Cost of Equity and Capital (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2025
Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/wacc.xls
For global datasets: https://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
can be obtained by clicking here
on
which companies are included in each industry
| Industry Name | Number of Firms | Beta | Cost of Equity | E/(D+E) | Std Dev in Stock | Cost of Debt | Tax Rate | After-tax Cost of Debt | D/(D+E) | Cost of Capital |
| Advertising | 54 | 1.34 | 10.37% | 79.24% | 67.19% | 6.41% | 7.67% | 4.81% | 20.76% | 9.22% |
| Aerospace/Defense | 67 | 0.90 | 8.48% | 81.44% | 42.74% | 5.53% | 11.02% | 4.15% | 18.56% | 7.68% |
| Air Transport | 24 | 1.24 | 9.93% | 48.35% | 65.27% | 6.41% | 10.15% | 4.81% | 51.65% | 7.29% |
| Apparel | 37 | 0.99 | 8.87% | 68.55% | 50.93% | 5.78% | 8.08% | 4.34% | 31.45% | 7.44% |
| Auto & Truck | 34 | 1.62 | 11.57% | 81.70% | 77.59% | 6.41% | 2.11% | 4.81% | 18.30% | 10.34% |
| Auto Parts | 33 | 1.23 | 9.88% | 67.64% | 52.62% | 5.78% | 12.77% | 4.34% | 32.36% | 8.09% |
| Bank (Money Center) | 15 | 0.88 | 8.37% | 35.31% | 30.47% | 5.53% | 18.10% | 4.15% | 64.69% | 5.64% |
| Banks (Regional) | 591 | 0.52 | 6.83% | 62.38% | 29.96% | 5.08% | 16.84% | 3.81% | 37.62% | 5.69% |
| Beverage (Alcoholic) | 18 | 0.61 | 7.22% | 76.65% | 63.08% | 5.78% | 8.28% | 4.34% | 23.35% | 6.55% |
| Beverage (Soft) | 29 | 0.57 | 7.04% | 83.52% | 47.67% | 5.78% | 6.94% | 4.34% | 16.48% | 6.59% |
| Broadcasting | 22 | 0.92 | 8.55% | 40.07% | 52.60% | 5.78% | 10.74% | 4.34% | 59.93% | 6.03% |
| Brokerage & Investment Banking | 30 | 0.95 | 8.70% | 34.89% | 40.49% | 5.53% | 14.42% | 4.15% | 65.11% | 5.74% |
| Building Materials | 39 | 1.36 | 10.47% | 84.05% | 34.75% | 5.53% | 19.11% | 4.15% | 15.95% | 9.46% |
| Business & Consumer Services | 152 | 1.00 | 8.93% | 85.63% | 45.39% | 5.78% | 12.48% | 4.34% | 14.37% | 8.27% |
| Cable TV | 9 | 0.96 | 8.74% | 44.18% | 49.73% | 5.78% | 10.47% | 4.34% | 55.82% | 6.28% |
| Chemical (Basic) | 31 | 1.15 | 9.55% | 63.19% | 50.02% | 5.78% | 7.97% | 4.34% | 36.81% | 7.63% |
| Chemical (Diversified) | 4 | 0.99 | 8.88% | 46.92% | 46.97% | 5.78% | 0.00% | 4.34% | 53.08% | 6.47% |
| Chemical (Specialty) | 60 | 0.92 | 8.57% | 78.66% | 48.15% | 5.78% | 9.99% | 4.34% | 21.34% | 7.67% |
| Coal & Related Energy | 16 | 1.18 | 9.70% | 91.35% | 53.78% | 5.78% | 2.77% | 4.34% | 8.65% | 9.23% |
| Computer Services | 63 | 1.23 | 9.93% | 79.16% | 44.40% | 5.53% | 10.78% | 4.15% | 20.84% | 8.72% |
| Computers/Peripherals | 35 | 1.14 | 9.53% | 95.40% | 52.62% | 5.78% | 8.99% | 4.34% | 4.60% | 9.29% |
| Construction Supplies | 46 | 1.29 | 10.18% | 82.26% | 47.52% | 5.78% | 13.55% | 4.34% | 17.74% | 9.14% |
| Diversified | 21 | 1.09 | 9.30% | 86.14% | 59.35% | 5.78% | 5.01% | 4.34% | 13.86% | 8.61% |
| Drugs (Biotechnology) | 535 | 1.25 | 10.00% | 85.40% | 86.83% | 7.58% | 1.05% | 5.69% | 14.60% | 9.37% |
| Drugs (Pharmaceutical) | 231 | 1.07 | 9.23% | 85.55% | 80.05% | 7.58% | 2.58% | 5.69% | 14.45% | 8.72% |
| Education | 29 | 0.98 | 8.84% | 83.72% | 55.82% | 5.78% | 11.89% | 4.34% | 16.28% | 8.10% |
| Electrical Equipment | 101 | 1.27 | 10.08% | 87.07% | 72.12% | 6.41% | 5.14% | 4.81% | 12.93% | 9.40% |
| Electronics (Consumer & Office) | 11 | 0.92 | 8.56% | 88.25% | 73.20% | 6.41% | 0.00% | 4.81% | 11.75% | 8.12% |
| Electronics (General) | 122 | 1.06 | 9.16% | 87.40% | 61.61% | 5.78% | 6.59% | 4.34% | 12.60% | 8.55% |
| Engineering/Construction | 42 | 0.99 | 8.86% | 84.80% | 47.33% | 5.78% | 14.71% | 4.34% | 15.20% | 8.17% |
| Entertainment | 96 | 1.04 | 9.09% | 83.10% | 62.70% | 5.78% | 2.06% | 4.34% | 16.90% | 8.28% |
| Environmental & Waste Services | 50 | 0.92 | 8.57% | 83.81% | 54.48% | 5.78% | 6.84% | 4.34% | 16.19% | 7.88% |
| Farming/Agriculture | 35 | 0.98 | 8.83% | 65.22% | 69.59% | 6.41% | 8.89% | 4.81% | 34.78% | 7.43% |
| Financial Svcs. (Non-bank & Insurance) | 166 | 1.07 | 9.23% | 25.86% | 41.96% | 5.53% | 11.81% | 4.15% | 74.14% | 5.46% |
| Food Processing | 77 | 0.47 | 6.63% | 73.25% | 46.27% | 5.78% | 10.12% | 4.34% | 26.75% | 6.02% |
| Food Wholesalers | 14 | 0.72 | 7.72% | 69.79% | 39.17% | 5.53% | 15.53% | 4.15% | 30.21% | 6.64% |
| Furn/Home Furnishings | 28 | 0.87 | 8.33% | 70.46% | 54.80% | 5.78% | 11.61% | 4.34% | 29.54% | 7.15% |
| Green & Renewable Energy | 18 | 1.13 | 9.47% | 36.21% | 71.93% | 6.41% | 1.22% | 4.81% | 63.79% | 6.50% |
| Healthcare Products | 218 | 1.01 | 8.97% | 88.66% | 67.41% | 6.41% | 4.10% | 4.81% | 11.34% | 8.50% |
| Healthcare Support Services | 113 | 0.94 | 8.66% | 75.64% | 54.00% | 5.78% | 8.80% | 4.34% | 24.36% | 7.60% |
| Heathcare Information and Technology | 116 | 1.22 | 9.88% | 86.06% | 64.54% | 5.78% | 3.82% | 4.34% | 13.94% | 9.10% |
| Homebuilding | 30 | 1.43 | 10.76% | 85.11% | 41.43% | 5.53% | 17.73% | 4.15% | 14.89% | 9.78% |
| Hospitals/Healthcare Facilities | 33 | 0.86 | 8.29% | 56.45% | 50.81% | 5.78% | 9.05% | 4.34% | 43.55% | 6.57% |
| Hotel/Gaming | 65 | 1.19 | 9.75% | 69.83% | 45.10% | 5.78% | 10.65% | 4.34% | 30.17% | 8.12% |
| Household Products | 101 | 0.90 | 8.46% | 86.79% | 56.67% | 5.78% | 8.00% | 4.34% | 13.21% | 7.91% |
| Information Services | 16 | 0.98 | 8.84% | 73.87% | 39.66% | 5.53% | 15.37% | 4.15% | 26.13% | 7.62% |
| Insurance (General) | 22 | 0.76 | 7.87% | 85.21% | 51.01% | 5.78% | 8.78% | 4.34% | 14.79% | 7.35% |
| Insurance (Life) | 19 | 0.73 | 7.75% | 61.45% | 34.31% | 5.53% | 14.51% | 4.15% | 38.55% | 6.36% |
| Insurance (Prop/Cas.) | 53 | 0.61 | 7.20% | 86.61% | 33.69% | 5.53% | 16.05% | 4.15% | 13.39% | 6.79% |
| Investments & Asset Management | 231 | 0.57 | 7.04% | 74.05% | 22.94% | 5.08% | 6.19% | 3.81% | 25.95% | 6.20% |
| Machinery | 109 | 1.07 | 9.20% | 86.43% | 46.07% | 5.78% | 11.22% | 4.34% | 13.57% | 8.54% |
| Metals & Mining | 64 | 1.02 | 9.01% | 85.65% | 72.37% | 6.41% | 1.80% | 4.81% | 14.35% | 8.40% |
| Office Equipment & Services | 14 | 1.20 | 9.78% | 68.26% | 49.89% | 5.78% | 13.45% | 4.34% | 31.74% | 8.05% |
| Oil/Gas (Integrated) | 4 | 0.48 | 6.67% | 87.94% | 25.56% | 5.08% | 25.23% | 3.81% | 12.06% | 6.33% |
| Oil/Gas (Production and Exploration) | 147 | 0.88 | 8.37% | 78.96% | 47.66% | 5.78% | 7.10% | 4.34% | 21.04% | 7.52% |
| Oil/Gas Distribution | 24 | 0.75 | 7.85% | 65.99% | 38.17% | 5.53% | 12.48% | 4.15% | 34.01% | 6.59% |
| Oilfield Svcs/Equip. | 97 | 0.94 | 8.64% | 72.19% | 49.49% | 5.78% | 9.08% | 4.34% | 27.81% | 7.44% |
| Packaging & Container | 22 | 0.98 | 8.81% | 65.40% | 33.98% | 5.53% | 14.29% | 4.15% | 34.60% | 7.20% |
| Paper/Forest Products | 6 | 1.07 | 9.22% | 81.59% | 60.66% | 5.78% | 23.69% | 4.34% | 18.41% | 8.32% |
| Power | 48 | 0.54 | 6.93% | 55.45% | 27.31% | 5.08% | 12.11% | 3.81% | 44.55% | 5.54% |
| Precious Metals | 60 | 1.23 | 9.90% | 84.11% | 70.97% | 6.41% | 1.99% | 4.81% | 15.89% | 9.09% |
| Publishing & Newspapers | 19 | 0.64 | 7.34% | 77.70% | 41.00% | 5.53% | 9.76% | 4.15% | 22.30% | 6.63% |
| R.E.I.T. | 192 | 0.95 | 8.68% | 54.50% | 32.08% | 5.53% | 1.80% | 4.15% | 45.50% | 6.62% |
| Real Estate (Development) | 15 | 1.03 | 9.02% | 47.91% | 49.68% | 5.78% | 2.49% | 4.34% | 52.09% | 6.58% |
| Real Estate (General/Diversified) | 11 | 0.86 | 8.32% | 70.45% | 26.53% | 5.08% | 5.45% | 3.81% | 29.55% | 6.99% |
| Real Estate (Operations & Services) | 60 | 1.08 | 9.24% | 77.65% | 56.53% | 5.78% | 4.26% | 4.34% | 22.35% | 8.14% |
| Recreation | 50 | 1.33 | 10.33% | 60.57% | 53.06% | 5.78% | 7.33% | 4.34% | 39.43% | 7.97% |
| Reinsurance | 1 | 0.54 | 6.91% | 73.22% | 19.87% | 5.08% | 20.13% | 3.81% | 26.78% | 6.08% |
| Restaurant/Dining | 62 | 1.01 | 8.95% | 81.21% | 41.50% | 5.53% | 8.84% | 4.15% | 18.79% | 8.05% |
| Retail (Automotive) | 29 | 1.35 | 10.44% | 66.49% | 47.39% | 5.78% | 12.12% | 4.34% | 33.51% | 8.39% |
| Retail (Building Supply) | 13 | 1.79 | 12.34% | 83.20% | 52.13% | 5.78% | 13.66% | 4.34% | 16.80% | 11.00% |
| Retail (Distributors) | 66 | 1.12 | 9.42% | 76.18% | 43.89% | 5.53% | 13.50% | 4.15% | 23.82% | 8.16% |
| Retail (General) | 24 | 1.06 | 9.18% | 91.97% | 46.69% | 5.78% | 16.75% | 4.34% | 8.03% | 8.79% |
| Retail (Grocery and Food) | 17 | 0.58 | 7.09% | 65.68% | 27.13% | 5.08% | 13.28% | 3.81% | 34.32% | 5.96% |
| Retail (REITs) | 28 | 0.95 | 8.68% | 64.61% | 23.56% | 5.08% | 1.19% | 3.81% | 35.39% | 6.96% |
| Retail (Special Lines) | 98 | 1.22 | 9.88% | 77.56% | 57.00% | 5.78% | 8.23% | 4.34% | 22.44% | 8.64% |
| Rubber& Tires | 3 | 0.65 | 7.37% | 20.53% | 72.04% | 6.41% | 0.00% | 4.81% | 79.47% | 5.33% |
| Semiconductor | 63 | 1.49 | 11.01% | 96.25% | 56.05% | 5.78% | 4.19% | 4.34% | 3.75% | 10.76% |
| Semiconductor Equip | 30 | 1.48 | 11.01% | 92.44% | 51.09% | 5.78% | 9.95% | 4.34% | 7.56% | 10.51% |
| Shipbuilding & Marine | 8 | 0.58 | 7.08% | 83.95% | 45.19% | 5.78% | 5.78% | 4.34% | 16.05% | 6.64% |
| Shoe | 12 | 1.42 | 10.75% | 90.71% | 51.75% | 5.78% | 11.06% | 4.34% | 9.29% | 10.15% |
| Software (Entertainment) | 81 | 1.18 | 9.70% | 97.57% | 66.63% | 6.41% | 6.73% | 4.81% | 2.43% | 9.58% |
| Software (Internet) | 29 | 1.69 | 11.88% | 89.65% | 55.62% | 5.78% | 2.18% | 4.34% | 10.35% | 11.10% |
| Software (System & Application) | 333 | 1.24 | 9.96% | 95.33% | 63.63% | 5.78% | 4.44% | 4.34% | 4.67% | 9.69% |
| Steel | 27 | 1.06 | 9.17% | 79.43% | 46.79% | 5.78% | 11.76% | 4.34% | 20.57% | 8.17% |
| Telecom (Wireless) | 11 | 0.77 | 7.93% | 67.75% | 66.73% | 6.41% | 14.90% | 4.81% | 32.25% | 6.92% |
| Telecom. Equipment | 61 | 1.00 | 8.91% | 88.65% | 56.09% | 5.78% | 4.35% | 4.34% | 11.35% | 8.39% |
| Telecom. Services | 32 | 0.89 | 8.42% | 49.96% | 63.71% | 5.78% | 3.65% | 4.34% | 50.04% | 6.37% |
| Tobacco | 12 | 0.98 | 8.82% | 78.15% | 68.34% | 6.41% | 12.50% | 4.81% | 21.85% | 7.95% |
| Transportation | 21 | 1.03 | 9.03% | 72.09% | 51.68% | 5.78% | 11.90% | 4.34% | 27.91% | 7.72% |
| Transportation (Railroads) | 4 | 0.99 | 8.87% | 77.89% | 26.56% | 5.08% | 17.14% | 3.81% | 22.11% | 7.75% |
| Trucking | 24 | 1.10 | 9.36% | 81.36% | 32.18% | 5.53% | 18.60% | 4.15% | 18.64% | 8.39% |
| Utility (General) | 14 | 0.39 | 6.28% | 56.16% | 18.21% | 5.08% | 10.65% | 3.81% | 43.84% | 5.20% |
| Utility (Water) | 15 | 0.68 | 7.52% | 63.04% | 29.17% | 5.08% | 11.36% | 3.81% | 36.96% | 6.15% |
| Total Market | 6062 | 1.00 | 8.92% | 71.85% | 52.53% | 5.78% | 8.03% | 4.34% | 28.15% | 7.63% |
| Total Market (without financials) | 4935 | 1.09 | 9.28% | 83.83% | 57.40% | 5.78% | 6.75% | 4.34% | 16.17% | 8.48% |
Last Updated in January 2025
By Aswath Damodaran