Professional Documents
Culture Documents
Waccemerg
Waccemerg
5-Jan-14
S&P Capital IQ
Aswath Damodaran
http://www.damodaran.com
3.04%
Do you want to use the marginal tax rate for cost of debt?
Yes
40%
Industry Name
Number of Firms
Beta
Advertising
56
1.26
Aerospace/Defense
56
0.97
Air Transport
75
1.12
889
0.90
75
1.20
Auto Parts
350
1.12
Bank
436
0.90
Banks (Regional)
64
0.82
Beverage
33
0.82
Beverage (Alcoholic)
117
0.85
Biotechnology
127
1.01
Broadcasting
56
1.43
345
1.06
Building Materials
204
0.89
144
0.92
Apparel
Auto & Truck
Cable TV
29
1.16
547
0.99
41
1.10
Chemical (Specialty)
396
0.97
102
1.51
Computer Services
414
1.01
Computer Software
339
1.19
Computers/Peripherals
192
1.09
Construction
365
0.83
Diversified
247
0.83
78
0.98
Chemical (Basic)
Chemical (Diversified)
Educational Services
Cost of Equity
12.42%
10.30%
11.37%
9.72%
12.00%
11.36%
9.76%
9.16%
9.14%
9.35%
10.58%
13.69%
10.97%
9.65%
9.94%
11.69%
10.42%
11.21%
10.30%
14.34%
10.54%
11.93%
11.18%
9.21%
9.24%
10.36%
E/(D+E)
91.49%
85.34%
43.33%
76.07%
76.66%
80.70%
46.03%
32.89%
84.21%
95.14%
95.43%
80.88%
51.62%
73.67%
87.58%
88.32%
89.21%
74.17%
71.26%
68.38%
90.31%
95.68%
73.28%
70.03%
60.40%
87.11%
93.71%
80.26%
62.66%
82.75%
69.45%
72.02%
52.49%
62.95%
68.47%
72.77%
95.45%
81.39%
86.76%
77.00%
82.33%
79.50%
72.94%
68.49%
74.57%
83.37%
86.54%
98.51%
76.01%
72.61%
60.86%
79.96%
Electrical Equipment
536
1.07
Electronics
657
1.17
106
1.12
Engineering
717
1.27
Entertainment
139
1.18
87
1.29
Farming/Agriculture
249
0.84
Financial Svcs.
329
0.91
97
0.86
784
0.77
46
1.06
Furn/Home Furnishings
205
0.84
Healthcare Equipment
87
1.04
Healthcare Facilities
72
0.60
Healthcare Products
53
0.79
Healthcare Services
96
0.96
38
1.47
185
1.23
Homebuilding
32
1.69
Hotel/Gaming
389
0.82
Household Products
205
0.81
Information Services
43
0.70
Insurance (General)
152
0.54
56
0.81
Insurance (Prop/Cas.)
131
0.56
117
1.28
Investment Co.
147
0.92
Machinery
645
1.08
330
1.28
59
0.64
Heavy Construction
Insurance (Life)
24
1.23
133
1.50
Oil/Gas Distribution
75
1.26
Oilfield Svcs/Equip.
251
1.08
280
0.83
Paper/Forest Products
196
0.86
519
0.87
Power
420
0.87
Precious Metals
111
1.70
163
0.80
12
0.90
Railroad
11.00%
11.75%
11.42%
12.52%
11.82%
12.67%
9.33%
9.80%
9.49%
8.82%
10.96%
9.32%
10.83%
7.49%
8.96%
10.17%
14.02%
12.22%
15.68%
9.13%
9.10%
8.27%
7.08%
9.08%
7.24%
12.62%
9.91%
11.09%
12.62%
7.81%
12.21%
14.23%
12.45%
11.08%
9.24%
9.46%
9.50%
9.53%
15.70%
9.00%
9.76%
78.56%
75.67%
68.92%
49.25%
84.13%
86.03%
67.51%
50.02%
48.85%
77.67%
56.78%
83.27%
94.30%
84.16%
93.63%
83.24%
90.40%
61.33%
43.80%
86.25%
90.99%
92.69%
81.64%
67.30%
80.74%
97.30%
51.71%
80.83%
64.86%
86.34%
69.62%
79.84%
52.95%
69.90%
69.57%
54.17%
91.41%
52.89%
75.47%
86.92%
81.40%
75.96%
79.74%
76.38%
78.80%
102.99%
92.24%
68.20%
78.66%
85.64%
72.04%
77.15%
78.18%
83.37%
63.25%
74.24%
80.36%
97.66%
75.11%
78.97%
69.79%
75.06%
77.12%
65.67%
58.03%
61.80%
99.60%
87.59%
73.71%
77.21%
77.84%
54.64%
91.07%
70.87%
78.58%
82.41%
75.56%
76.96%
66.59%
98.42%
77.80%
51.33%
Real Estate
296
1.05
552
1.16
230
1.02
Recreation
99
1.11
Reinsurance
29
0.99
Restaurant
73
1.06
Retail (Automotive)
62
0.75
12
1.13
Retail (Distributors)
427
0.84
Retail (General)
145
1.00
51
0.89
Retail (Internet)
12
3.55
154
1.08
Rubber& Tires
70
1.12
Semiconductor
379
1.35
Semiconductor Equip
151
1.27
225
0.91
Shoe
65
0.90
Steel
488
1.23
Telecom (Wireless)
61
0.96
Telecom. Equipment
280
1.17
Telecom. Services
117
0.82
Thrift
31
1.00
Tobacco
35
0.63
135
0.89
Trucking
89
0.74
Utility (General)
10
0.29
Utility (Water)
55
0.91
Total Market
19083
1.01
Tranportation
10.90%
11.70%
10.62%
11.28%
10.46%
10.94%
8.64%
11.47%
9.30%
10.52%
9.66%
29.49%
11.09%
11.40%
13.14%
12.55%
9.86%
9.73%
12.20%
10.22%
11.78%
9.13%
10.46%
7.73%
9.66%
8.59%
5.19%
9.81%
10.61%
60.73%
21.50%
58.70%
83.51%
87.46%
87.69%
58.69%
74.70%
60.34%
75.45%
79.08%
59.83%
80.14%
68.15%
88.17%
72.35%
52.31%
83.76%
49.33%
77.15%
83.94%
73.00%
38.61%
97.17%
59.57%
72.28%
28.48%
74.79%
63.09%
72.75%
77.25%
75.79%
77.63%
52.92%
78.51%
69.71%
80.30%
79.54%
59.30%
65.30%
114.33%
69.48%
72.10%
80.58%
83.15%
68.37%
73.74%
75.53%
64.66%
86.78%
77.26%
62.68%
59.63%
64.49%
69.52%
51.93%
59.73%
76.46%
Basis Spread
0.25
0.25
0.5
0.5
0.65
0.65
0.8
0.8
0.9
0.9
10
Cost of Debt
7.68%
7.18%
6.18%
7.18%
6.68%
6.68%
6.18%
6.18%
6.68%
6.68%
7.68%
7.18%
7.18%
6.68%
7.18%
6.68%
6.68%
6.68%
6.68%
7.18%
7.18%
7.68%
6.68%
6.68%
6.18%
6.68%
Tax Rate
15.88%
8.29%
12.83%
14.46%
15.86%
18.09%
18.62%
17.86%
13.30%
20.21%
7.87%
18.69%
10.35%
16.47%
13.46%
13.12%
15.04%
16.44%
18.19%
15.87%
13.33%
11.93%
13.17%
13.81%
14.00%
9.86%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
4.00%
4.61%
4.31%
3.71%
4.31%
4.01%
4.01%
3.71%
3.71%
4.01%
4.01%
4.61%
4.31%
4.31%
4.01%
4.31%
4.01%
4.01%
4.01%
4.01%
4.31%
4.31%
4.61%
4.01%
4.01%
3.71%
4.01%
D/(D+E)
8.51%
14.66%
56.67%
23.93%
23.34%
19.30%
53.97%
67.11%
15.79%
4.86%
4.57%
19.12%
48.38%
26.33%
12.42%
11.68%
10.79%
25.83%
28.74%
31.62%
9.69%
4.32%
26.72%
29.97%
39.60%
12.89%
Cost of Capital
11.75%
9.42%
7.03%
8.42%
10.14%
9.94%
6.50%
5.50%
8.33%
9.09%
10.31%
11.90%
7.75%
8.17%
9.24%
10.79%
9.73%
9.35%
8.49%
11.17%
9.94%
11.61%
9.26%
7.65%
7.05%
9.54%
6.68%
6.68%
6.68%
6.68%
8.68%
7.68%
6.68%
6.68%
7.18%
6.68%
6.68%
6.68%
7.18%
6.18%
6.68%
7.18%
7.68%
6.68%
6.68%
6.68%
6.68%
6.68%
6.68%
6.18%
6.18%
7.68%
7.18%
6.68%
6.68%
6.68%
6.18%
7.68%
6.68%
6.68%
7.18%
6.68%
6.68%
6.68%
7.68%
6.68%
6.18%
14.52%
12.99%
12.33%
13.56%
8.52%
12.11%
12.87%
17.28%
13.21%
14.16%
10.30%
14.90%
10.51%
16.22%
11.83%
16.10%
7.16%
14.57%
9.32%
12.50%
14.61%
16.59%
10.91%
15.83%
12.83%
11.71%
7.43%
15.49%
10.69%
14.19%
22.89%
13.09%
13.74%
14.05%
15.92%
12.85%
16.00%
14.96%
9.04%
13.07%
17.29%
4.01%
4.01%
4.01%
4.01%
5.21%
4.61%
4.01%
4.01%
4.31%
4.01%
4.01%
4.01%
4.31%
3.71%
4.01%
4.31%
4.61%
4.01%
4.01%
4.01%
4.01%
4.01%
4.01%
3.71%
3.71%
4.61%
4.31%
4.01%
4.01%
4.01%
3.71%
4.61%
4.01%
4.01%
4.31%
4.01%
4.01%
4.01%
4.61%
4.01%
3.71%
21.44%
24.33%
31.08%
50.75%
15.87%
13.97%
32.49%
49.98%
51.15%
22.33%
43.22%
16.73%
5.70%
15.84%
6.37%
16.76%
9.60%
38.67%
56.20%
13.75%
9.01%
7.31%
18.36%
32.70%
19.26%
2.70%
48.29%
19.17%
35.14%
13.66%
30.38%
20.16%
47.05%
30.10%
30.43%
45.83%
8.59%
47.11%
24.53%
13.08%
18.60%
9.50%
9.86%
9.11%
8.20%
10.77%
11.54%
7.60%
6.91%
6.84%
7.74%
7.95%
8.43%
10.46%
6.89%
8.65%
9.19%
13.11%
9.04%
9.12%
8.43%
8.64%
7.96%
6.51%
7.32%
6.56%
12.41%
7.20%
9.73%
9.59%
7.29%
9.63%
12.29%
8.48%
8.95%
7.74%
6.96%
9.03%
6.93%
12.98%
8.34%
8.63%
6.68%
6.68%
6.68%
6.68%
6.18%
6.68%
6.68%
7.18%
6.68%
6.18%
6.68%
8.68%
6.68%
6.68%
7.18%
7.18%
6.68%
6.68%
6.68%
6.18%
7.18%
6.68%
6.18%
6.18%
6.18%
6.68%
6.18%
6.18%
6.68%
14.10%
18.74%
12.45%
16.40%
9.73%
15.83%
16.43%
18.38%
15.08%
22.76%
20.73%
11.72%
16.39%
18.60%
9.65%
9.93%
11.20%
18.74%
13.87%
16.43%
10.45%
12.71%
18.32%
22.08%
19.47%
16.20%
11.20%
17.88%
14.28%
4.01%
4.01%
4.01%
4.01%
3.71%
4.01%
4.01%
4.31%
4.01%
3.71%
4.01%
5.21%
4.01%
4.01%
4.31%
4.31%
4.01%
4.01%
4.01%
3.71%
4.31%
4.01%
3.71%
3.71%
3.71%
4.01%
3.71%
3.71%
4.01%
39.27%
78.50%
41.30%
16.49%
12.54%
12.31%
41.31%
25.30%
39.66%
24.55%
20.92%
40.17%
19.86%
31.85%
11.83%
27.65%
47.69%
16.24%
50.67%
22.85%
16.06%
27.00%
61.39%
2.83%
40.43%
27.72%
71.52%
25.21%
36.91%
8.19%
5.66%
7.89%
10.08%
9.61%
10.09%
6.72%
9.66%
7.20%
8.85%
8.48%
19.74%
9.69%
9.05%
12.09%
10.27%
7.07%
8.80%
8.05%
8.73%
10.58%
7.75%
6.32%
7.62%
7.26%
7.32%
4.13%
8.27%
8.17%