How to trace the input chain behind any financial model output cell
- Step 1Upload the financial model — Drop your XLSX financial model onto the Dependency Map tool.
- Step 2Target the key output cell — Enter the address of the valuation or KPI cell you want to trace (e.g. Enterprise_Value!B30).
- Step 3Review the input chain — Each precedent cell is listed with its formula or hardcoded value — identify which are assumptions vs calculations.
- Step 4Document assumptions — Use the dependency tree output in your model documentation or audit memo.
Frequently asked questions
Can it show which cells are hardcoded assumptions?+
Yes — cells with no formula are marked as 'hardcoded' in the dependency tree. These are your model inputs/assumptions.
What if the model has too many nested levels?+
The trace limit is 8 levels deep by default. For very deeply nested models, the tree stops at level 8 and marks deeper nodes as 'depth limit reached'.
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