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Farming, fishing and forestry

Beef and sheep farm financial model, built free.

A three-statement Excel model for a beef, sheep and feedlot enterprise, built from your own figures and checked to balance.

  • Free account
  • No card
  • Usually ready within the hour

We use generative AI in parts of our process, so mistakes can occur. Every model should be checked by a person before it is relied on. Read more

The business

Breeds and grows cattle and sheep on pasture (and may finish cattle in a feedlot), earning revenue from livestock and wool sales and from growth in the value of the herd.

See the sampleHow the model works

In short

  • 01

    Three linked statements

    Income statement, balance sheet and cash flow, linked in every period.

  • 02

    Valued two ways

    Discounted cash flow and net asset value, side by side.

  • 03

    Monthly to annual

    Monthly, quarterly, half-yearly or annual periods, for up to 30 years.

  • 04

    Checked every period

    A Checks sheet shows the balance sheet balances and the cash reconciles.

The sample

The sample, as Excel draws it.

Built by the same system and checks as yours: its structure and its inputs, ready for your own figures.

Annual · 10 years · Low detail
Beef and sheep farm sample model.xlsx
The How It Works sheet of the sample beef and sheep farm model

The sample describes no real business. Yours is calibrated to your own figures, so its results are your business’s.

How it works

How the model works for a beef and sheep farm.

  1. How it earns revenue1 formula
    Revenue (top-down) · Across the business
    RevenueUnits soldAverage price
  2. What drives its costs3 formulas
    Husbandry and feed costs · All herds
    Feed and yardage costsFeed costsYardage costs
    Direct costs (top-down) · Across the business
    Cost of salesRevenuefrom statementsGross margin
    Operating expenses · Across the business
    Total FTEsOperations and deliverySales and marketingTechnologyFinance, HR and administration
  3. What it invests in3 formulas
    Farmland value · All farms
    Depreciation of farm improvementsDepreciation of existing improvementsDepreciation of new improvements (from mid-period)
    Farmland value · All farms
    Improvements at period endImprovements at period startImprovements capexDepreciation of farm improvements
    Farmland value · All farms
    Farmland and improvementsLand at costImprovements at period end
  4. How it is funded3 formulas
    Debt
    RepaymentsScheduled repaymentsPrepayments from an equity raise and the cash sweep
    Debt
    Closing balanceOpening balanceDrawdownsRepayments
    Debt
    Interest expenseOpening balanceAll-in interest rateshare of the year
  5. How profit becomes cash3 formulas
    Working capital
    Trade receivablesRevenuefrom statementsDebtor daysDays in period
    Working capital
    InventoryDirect costs (positive)from statementsInventory daysDays in period
    Working capital
    Trade payablesCash operating costs (positive)from statementsCreditor daysDays in period
What it covers

25 parts, each one tested.

Every part is a tested building block with its own checks: yours is put together from the ones your business needs.

  • CPI forecastConsensus curve with long-run anchor
  • Revenue (top-down)Price × volume
  • Direct costs (top-down)Gross margin %
  • Operating expensesHeadcount build by function
  • Working capitalFull working capital
  • Income taxCorporate rate with tax losses
  • DebtAmortising term loan
  • Dividends and distributionsPayout of net profit
  • Discounted cash flow valuationDCF on free cash flow to the firm
  • Net asset valueBook net asset value
  • Commodity price deckFlat real pricesPrice paths for the farm, fish and forest commodities in the model — grain, oilseeds, cotton, sugar, beef, lamb, pork, wool, milk, fish, logs, fertiliser and feed — that sales and cost methods read as indices.
  • Seasonal conditions and climate riskSeason type by yearA season factor that scales yields, carrying capacity, receivals, input demand (or, for ski resorts, snow and skier visits) for drought, average and good years.
  • Purchase price and acquisition costsAgreed price plus costs
  • Hold-period cash flowsAsset-level NOI less capex
  • Exit value and exit costsTerminal capitalisation rate
  • Investment returnsIRR, equity multiple and cash-on-cash
  • Key-metric summaryLast-twelve-month and run-rate metrics
  • Budget phasingSeasonal profile of twelve monthly weights
  • Covenant tests and headroomLVR, gearing and ICR for property
  • Case selectionStackable stress toggles
  • Discount rate (WACC)CAPM at target gearing
  • Farmland valueHeld at costValue of farmland and fixed improvements — held at cost, revalued, or at fair value for leased-out farms.
  • Herd numbers and turnoffDairy herdHead of livestock (or fish) through the year — births, deaths, purchases, sales and moves between classes.
  • Husbandry and feed costsCost of gain (feed conversion)Costs of running the herd — feed, animal health, breeding, shearing, freight, selling costs and agistment.
  • Livestock at fair valueHead by class × market value per headValue of livestock (or fish biomass) on hand at fair value less costs to sell, and the fair-value movement taken to profit (AASB 141), net of the value of animals sold so sales are not counted twice.
Key numbers

The numbers it tracks.

  1. 01kg of beef or lamb per hectare
  2. 02cost of production per kg
  3. 03gross margin per DSE
  4. 04weaning or marking %
  5. 05herd value
  6. 06return on assets
Used for

What it is used for.

Also used for
  • Scenarios and sensitivities
  • Asset acquisition
Related models

More in farming, fishing and forestry.

Every agriculture and food model

Looking for a beef and sheep farm financial model template? Ours arrives built for your business, with your figures in it.

See a finished model, sheet by sheet

The sample is built on illustrative figures and describes no real business. Models are calculations prepared from the information you provide. They are not financial advice and must be independently verified. See our terms.