Stage 5 (2022)
Originally published: 04/08/2022 14:22
Publication number: ELQ-16652-1
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Stage 5 (2022) "Traveling and Holidays"

This is a real-life example of an FMWC competition case.

Financial Modeling World Cup is an annual competition dedicated to financial modeling with a view of promoting healthy competition and education. FMWC challenges participants through a range of different types of questions. To answer everything correctly and win prizes, it takes a wide spectrum of skills and knowledge related to financial modeling. The competition is structured in a way that each participant accumulates points during the season by participating in as many Stages as they desire. At the end of the season (December), the overall winners are announced and the prize fund is distributed. Additional monthly prize money is distributed to the best performing participants of each stage.

This is an actual case study that was presented to the participants of the Financial Modeling World Cup 2022, Stage 5 (July 22-25).

Case study description:
This case involves forecasting the operating kilometers of a new electric railway over a period of 20 years from 1 October 2022 to 30 September 2042, and then forecasting the amount and cost of electricity required to run the trains.

The downloadable file consists of the following:
-Task: PDF file with Case Materials; PDF file with Questions; Excel file with initial data and case assumptions
-Solution: Excel file with full Solution Model; PDF file with correct Answers in Bold

You can also buy tickets to participate in the future FMWC Stages at

This Best Practice includes
3 files to start the Task; 2 files for Solution and Answers

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Further information

To provide training opportunities for financial modelers.

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