Learn the Fundamental Skills Every Investor Needs

Learn how real investors value a business using cash flows — not hype, predictions, or price movements. In this free introductory course, you’ll discover a simple, repeatable process for estimating what a stock is worth and comparing that value to the market price.

Who This Course Is For?

• Beginners who want to understand what a stock is really worth • Early investors who feel overwhelmed by financial statements • Anyone who wants a clear, cash-flow-based valuation process • Long-term thinkers who want real investing skills, not speculation • DIY investors who want a method they can apply immediately If you want a fundamentals-first approach you can actually use, this course is for you.

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Why Valuation Matters

Most people invest without any idea of what a business is worth. They buy because the price moved, a headline was exciting, or someone tweeted a hot take. Real investors do something very different: they value the business first — and make decisions second. This course teaches you the foundation of that process. You’ll learn how to think like an investor by estimating: • What the business earns • What cash flows it can produce • What those cash flows are worth today • How that value compares to the stock price This skill changes the way you invest forever.

Meet Your Instructor: 

Matt DePaola is the co-founder of the Fundamental Investing Institute and host of the Fundamentals Unfiltered podcast. He teaches practical, fundamentals-first investing with a focus on intrinsic value, cash-flow-based analysis, and long-term thinking. Matt’s mission is to make high-quality financial education accessible and clear for beginners, early investors, and business owners.

Do I need any prior experience with finance or accounting? Not much. It helps to have a basic awareness of business financial statements, but this course is still built for beginners. I’ll show you where to find the key numbers on the income statement and cash flow statement and how to use them step-by-step.

Is there a lot of math involved? Only simple “napkin math.” If you can use a calculator, you can follow the valuation process in this course.

Can I use this method to value real companies? Yes — this framework works for most established, cash-flow-generating businesses. You’ll learn how to calculate value, estimate yield, and compare intrinsic value to the stock price using free public data.

Course Curriculum

4 Chapters · 30 Lessons

  1. 1

    Foundations — From Bonds to Present Value

    1. (Included in full purchase)

      Welcome to How to Value a Stock

    2. (Included in full purchase)

      Learning Objectives:

    3. (Included in full purchase)

      Introduction and How to Value a Stock

    4. (Included in full purchase)

      Value a Stock Like a Bond

    5. (Included in full purchase)

      Bond Coupon

    6. (Included in full purchase)

      Concept of Present Value

    7. (Included in full purchase)

      Bond Valuation Example

    8. (Included in full purchase)

      Quiz — From Bonds to Present Value

  2. 2

    The Equity Coupon — Free Cash Flow per Share

    1. (Included in full purchase)

      Learning Objectives:

    2. (Included in full purchase)

      Equity Coupon "Free" Cash Flow Per Share

    3. (Included in full purchase)

      Formula Reference Sheet (Downloadable PDF)

    4. (Included in full purchase)

      Steps in the Process - To Calculate Free Cash Flow per Share

    5. (Included in full purchase)

      Principles of Calculating Free Cash Flow per Share

    6. (Included in full purchase)

      P & L Statement - Where to find the elements to calculate Free Cash Flow per share

    7. (Included in full purchase)

      Elements of Free Cash Flow

    8. (Included in full purchase)

      Diluted Shares Outstanding

    9. (Included in full purchase)

      Calculating a Valuation Multiple

    10. (Included in full purchase)

      Quiz — Free Cash Flow & Equity Coupon

  3. 3

    Case Study — Valuing Lowe’s Step by Step

    1. (Included in full purchase)

      Learning Objectives:

    2. (Included in full purchase)

      Example using Lowe's Companies, Inc

    3. (Included in full purchase)

      Example Details using Yahoo! Finance

    4. (Included in full purchase)

      Considerations

    5. (Included in full purchase)

      Quiz — Example, Yield & Margin of Safety

    6. (Included in full purchase)

      Practice: Try This Framework Yourself

  4. 4

    Summary, Glossary & Next Steps

    1. (Included in full purchase)

      Learning Objectives:

    2. (Included in full purchase)

      Lesson Summary

    3. (Included in full purchase)

      Summary, Margin of Safety & Next Steps

    4. (Included in full purchase)

      What's Next?

    5. (Included in full purchase)

      Glossary

    6. (Included in full purchase)

      Full Course Transcript (Download)

Start learning how to value a stock — in one hour.

Gain the foundation every investor needs and learn a framework you can use for the rest of your investing life.

Pre-order Now