Financial modeling can be a tedious process with multitudes of rows and columns of data. Excel shortcuts are crucial to any financial analyst's success. In this guide, we'll review the key shortcuts you need to speed up your modeling.
Navigation & Selection
To navigate around the workbook without a mouse, you can use the arrow keys. That much you know. But you can also jump cells by hitting CTRL + ARROW. That keystroke combination will move the active cell to the end of a selection (for contiguous cells), or the next cell with data (if blank cells are between).
To highlight data quickly, use CTRL + SHIFT + ARROW. This is important to copy over formulas or formats quickly in your models.
Paste Special
We all know the copy (CTRL + C) and paste (CTRL + V) shortcuts. Copy and paste copies and pastes (almost) everything from the copied cell, including formulas, formatting, comments, etc. (note that it doesn't copy the column width)
In financial models, you typically need to copy over formulas without overriding the formatting in current cells. To do so, follow the copy and paste method above with one change:
CTRL + C to copy, than CTRL + ALT + V for Paste Special.
Paste Special allows you to paste only the parts of the cell you want - formulas, formatting, comments, column width, Data Validation, and more.
When copying formulas in financial models, make sure to use Paste Special > Formulas to keep the formatting that was previously set.
Saving Your Files
When working on large models, files can unexpectedly shut down or errors can happen at any stage.
Financial analysts should be saving their files with CTRL + S, which most people know.
But you should also know the F12 shortcut for Save As. When you receive a file from someone else, don't override their work. Save the file with a new name (F12) and work off your version. Additionally, it is beneficial to Save As when you complete a major step in your model so that you can retrace your work if something goes wrong.
Repeat Command
To quickly replicate a command in Excel, hit the F4 key. If you've applied a border, for example, to one cell, you can hit F4 to apply that same border to another.
Cell Anchoring / Locking
When editing the active cell (i.e. when working inside a cell), hit the F4 key on a particular cell to lock the cell.
If you hit the F4 key once, it creates an absolute reference (for example, $C$4 with two dollar signs), which means that the cell will be anchored when you move vertically or horizontally.
If you hit F4 again, it will cycle through the cell anchoring so that you can lock only the row (C$4 for example, with a dollar sign before the row number), or lock only the column ($C4, with a dollar sign before the column letter).
When writing formulas, using the appropriate cell locking technique is crucial to building our your model efficiently and accurately. For example, when you discount your cash flow, the discount rate should be an absolute cell reference. But when you calculate your expense line items as a percentage of revenue, you'll likely want to lock only the row.
Split Your Screen for Data Entry
When copying financials into Excel, you can work faster by moving your Excel spreadsheet to the left of your screen (or to your left monitor if you are working with a second monitor) with WINDOWS + Left Arrow.
The move your financial statement to the right part of your screen with WINDOWS + Right Arrow.
Once you've split your screens so that both your Excel spreadsheet and financial statements are visible, you can toggle between the applications with ALT + Tab.
Master These Excel & Modeling Techniques in Classroom Training
These are some of the few tricks & techniques we cover in our Excel classes in NYC. For aspiring or current financial analysts, apply these tools while building valuations models in our financial modeling training programs. All our courses are taught with practical exercises. You'll be working in Excel creating the same models hedge fund, private equity, and investment banking analysts work with today.