Ibrahim Kaba at his UMass Boston graduation, holding his diploma

Finance • Analytics • Lowell, MA

IbrahimKaba

Economics graduate, UMass Boston. MPA candidate. I build financial models that turn public filings into a valuation someone can act on.

See the work

I sold Black Card memberships on the floor at Planet Fitness. Then I built the model that values the company.

Results-oriented collaborator with a background in customer acquisition and retention, now applying that same discipline to financial modeling, valuation and analysis in fast-paced, competitive environments.

  • Financial Modeling
  • DCF Valuation
  • Econometrics

How I build • 01

Structure before conclusions.

Clean historicals, explicit drivers and linked schedules are the foundation of analysis that can be audited, explained and trusted.

How I build • 02

Forecast the business, not the spreadsheet.

Revenue, margins, working capital, CapEx, depreciation, debt and cash flow should move because the business drivers move, not because a plug makes the model work.

Flagship project • Complete • Sep 2026

Planet Fitness 3-Statement Model & DCF

An integrated income statement, balance sheet and cash flow model for Planet Fitness, Inc. (NYSE: PLNT), built from the FY2023 10-K. It projects five years of revenue, margins, EBITDA and free cash flow, then values the company with a DCF, Bear/Base/Bull scenarios, sensitivity tables, trading comps and a valuation football field, closing with an investment committee memo.

Ticker
NYSE: PLNT
Source
FY2023 Form 10-K
Historical
FY2021A–FY2023A
Forecast
FY2024E–FY2028E
Balance check
OK / BALANCED
Tool
Microsoft Excel
$190.72Base-case value per share, perpetuity growth DCF
$148.14Base-case value per share, 12.0x exit multiple
$40.16Share price used in the valuation
6.63%WACC (Re 9.01%, after-tax Rd 2.99%)

Valuation football field

Implied value per share, $

DCF methodsMarket multiplesCurrent share price $40.16

Revenue and EBITDA, FY2021A–FY2028E

Base case, $ millions

Revenue, actualRevenue, projectedEBITDA

Scenario analysis

Toggled on the Inputs tab

CaseYr 5 RevEBITDA %DCF – GordonDCF – Exit
Bear9%→5% growth, GM to 80.0%$1,50245.6%$104.47$78.82
Base Active14.4% growth, 82.3% GM held flat$2,09657.6%$190.72$148.14
Bull16%→14% growth, GM to 84.0%$2,15560.0%$205.69$160.07

Build sequence

Every step linked to the next

  1. 01Historical financial statementsIncome statement, balance sheet and cash flow from the 10-KComplete
  2. 02Historical driver analysisGrowth, margins, DSO / DIO / DPO, capital intensityComplete
  3. 03Working capital scheduleComplete
  4. 04Depreciation scheduleExisting and new-asset waterfall, 4.77-year useful lifeComplete
  5. 05Debt schedule and interestComplete
  6. 06Integrated 3-statement forecastComplete
  7. 07DCF valuationUFCF build, WACC, Gordon growth and exit multipleComplete
  8. 08Sensitivities, scenarios, comps, football fieldComplete
  9. 09Investment committee memoComplete

What drives the range

  • Terminal value dominates.PV of terminal value is 86% of Gordon-growth EV. Each ±50bp on WACC moves value by roughly ±$26 per share.
  • The discount rate looks low.A 6.6% WACC leans on a 4.17% securitized cost of debt and book debt weights. Market-value weights would push it up.
  • Operating leverage is an assumption.SG&A grows with inflation, so EBITDA margin expands from 39% to 58%. If costs scale with club growth, value compresses.
  • Growth durability.A consumer slowdown, HVLP saturation or slower franchise openings would move results toward the Bear case.

Valuation summary

MethodLowHighMid
DCF – Perpetuity growth$160.00$233.95$196.98
DCF – Exit multiple$133.13$163.80$148.47
DCF – Bear to Bull$91.64$182.88$137.26
Trading comps – fitness peers$26.64$41.54$34.09
PLNT at own Dec-23 multiple$80.57$91.22$85.90

On the model's assumptions PLNT screens as materially undervalued, but the result is highly assumption-sensitive. I would anchor on the low end of the DCF range and validate club growth, cost scaling and a market-based WACC before acting.

Download the model .XLSX Read the IC memo PDF

Research project • Apr–May 2025 • UMass Boston

ECON 452 Econometrics: “The Run Support Riddle”

An empirical study testing whether team run production causally affects MLB pitcher win totals.

  • Designed and executed the study end to end using econometric methods.
  • Presented findings in professionally formatted tables and visualizations.
  • Delivered a written report covering methodology, results and limitations.

Toolkit

Skills built around business decisions.

The goal is not a list of software. It is knowing how to structure the problem, build the analysis, check the logic and explain the conclusion.

Finance & analytics

  • Financial Modeling 3-statement
  • DCF Valuation Gordon · exit multiple
  • Scenario & Sensitivity Analysis Bear · Base · Bull
  • Econometrics Causal inference
  • Data Analysis Tables · visuals
  • Microsoft Excel & Office Certified 2026

Professional

  • Customer Relationship Management
  • Project & Time Management
  • Teamwork & Collaboration
  • Critical Decision Making
  • Effective Communication
  • Conflict Resolution & Problem Solving
FMVAFinancial Modeling & Valuation AnalystCorporate Finance Institute
CBCACertified Banking & Credit AnalystCorporate Finance Institute
CMSACapital Markets & Securities AnalystCorporate Finance Institute
BIDABusiness Intelligence & Data AnalystCorporate Finance Institute
ExcelMicrosoft Excel Professional CertificateCoursera · Aug 2026

Background

From the sales floor to the spreadsheet.

Experience

  1. Jul 2025 – Present

    Universal Banker IAlign Credit Union · Lowell, MA

    • Deliver personalized financial service across all teller functions with strict regulatory compliance.
    • Guide members to the right resources for their goals; 3 product referrals converted into implemented financial solutions to date.
    • Turn routine transactions into experiences where members feel secure, accepted and valued.
  2. Oct 2024 – Feb 2025

    Assistant ManagerPlanet Fitness · Billerica, MA

    • Led daily operations and mentored staff in customer-centered engagement and long-term relationship building.
    • Held at least a 60% closing rate on the Black Card premium membership throughout tenure.
    • Helped deliver a 4% increase in total club membership from a 4,800-member baseline.
  3. Aug 2024 – Oct 2024

    Team LeadPlanet Fitness · Billerica, MA

    • Scored 97% on the company's sales tour evaluation, its most critical measure of sales proficiency.
    • Raised over $1,000 for the annual Boys & Girls Club donation campaign.
  4. May 2024 – Aug 2024

    Team MemberPlanet Fitness · Billerica, MA

    • Finished first company-wide in the summer membership upgrade contest with 17 upgrades.

Education

  1. In progress · Expected May 2028

    Master of Public AdministrationUniversity of Massachusetts Boston

  2. May 2025

    B.A. EconomicsUniversity of Massachusetts Boston

    Dean's List, Fall 2022

  3. 2018 – 2021

    Prior courseworkAssumption University · Ohio Wesleyan University

    Economics with a business concentration. Dean's List, Fall 2018. Men's soccer, 2019 NCAA DIII Sweet 16.

Working philosophy

Analysis is only useful when it drives action.

A strong model makes its assumptions visible, its relationships logical and its outputs easy to challenge. The work should help people understand what changed, why it matters and what to do next.

Contact

The next chapter is about applying the work.

I am continuing to build this portfolio while I pursue roles where I can contribute through modeling, analysis, forecasting and decision support.

Email
brahimkaba655@gmail.com
Based in
Lowell, Massachusetts
Résumé
Ibrahim Kaba, 2026–27 (PDF)