Cost of Equity and Capital (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2023
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 | 58 | 1.63 | 13.57% | 68.97% | 52.72% | 5.88% | 6.39% | 4.41% | 31.03% | 10.73% |
| Aerospace/Defense | 77 | 1.41 | 12.28% | 79.33% | 37.56% | 5.50% | 8.60% | 4.13% | 20.67% | 10.59% |
| Air Transport | 21 | 1.42 | 12.29% | 34.92% | 37.73% | 5.50% | 10.47% | 4.13% | 65.08% | 6.98% |
| Apparel | 39 | 1.32 | 11.75% | 65.98% | 38.51% | 5.50% | 12.04% | 4.13% | 34.02% | 9.15% |
| Auto & Truck | 31 | 1.54 | 13.03% | 66.58% | 52.61% | 5.88% | 3.00% | 4.41% | 33.42% | 10.15% |
| Auto Parts | 37 | 1.47 | 12.64% | 70.10% | 39.52% | 5.50% | 9.30% | 4.13% | 29.90% | 10.09% |
| Bank (Money Center) | 7 | 1.08 | 10.30% | 31.61% | 19.59% | 4.73% | 16.25% | 3.55% | 68.39% | 5.68% |
| Banks (Regional) | 557 | 0.50 | 6.88% | 60.75% | 16.76% | 4.73% | 18.84% | 3.55% | 39.25% | 5.57% |
| Beverage (Alcoholic) | 23 | 1.01 | 9.90% | 81.36% | 49.87% | 5.50% | 9.39% | 4.13% | 18.64% | 8.82% |
| Beverage (Soft) | 31 | 1.30 | 11.62% | 86.75% | 41.72% | 5.50% | 6.42% | 4.13% | 13.25% | 10.63% |
| Broadcasting | 26 | 1.32 | 11.73% | 40.51% | 46.90% | 5.50% | 15.76% | 4.13% | 59.49% | 7.21% |
| Brokerage & Investment Banking | 30 | 1.20 | 11.04% | 33.21% | 28.00% | 5.50% | 15.32% | 4.13% | 66.79% | 6.42% |
| Building Materials | 45 | 1.28 | 11.47% | 77.56% | 29.19% | 5.50% | 16.71% | 4.13% | 22.44% | 9.82% |
| Business & Consumer Services | 164 | 1.17 | 10.84% | 78.45% | 45.78% | 5.50% | 9.43% | 4.13% | 21.55% | 9.39% |
| Cable TV | 10 | 1.26 | 11.34% | 48.25% | 25.41% | 5.50% | 21.95% | 4.13% | 51.75% | 7.60% |
| Chemical (Basic) | 38 | 1.25 | 11.29% | 67.43% | 46.58% | 5.50% | 9.83% | 4.13% | 32.57% | 8.95% |
| Chemical (Diversified) | 4 | 1.41 | 12.27% | 63.19% | 39.49% | 5.50% | 12.02% | 4.13% | 36.81% | 9.27% |
| Chemical (Specialty) | 76 | 1.28 | 11.47% | 78.49% | 42.32% | 5.50% | 10.75% | 4.13% | 21.51% | 9.89% |
| Coal & Related Energy | 19 | 1.45 | 12.51% | 82.16% | 61.96% | 5.88% | 2.28% | 4.41% | 17.84% | 11.06% |
| Computer Services | 80 | 1.17 | 10.84% | 75.44% | 47.78% | 5.50% | 6.47% | 4.13% | 24.56% | 9.19% |
| Computers/Peripherals | 42 | 1.29 | 11.55% | 91.31% | 48.73% | 5.50% | 9.13% | 4.13% | 8.69% | 10.90% |
| Construction Supplies | 49 | 1.26 | 11.39% | 76.85% | 35.11% | 5.50% | 10.52% | 4.13% | 23.15% | 9.71% |
| Diversified | 23 | 1.04 | 10.05% | 82.48% | 57.84% | 5.88% | 2.98% | 4.41% | 17.52% | 9.06% |
| Drugs (Biotechnology) | 598 | 1.24 | 11.26% | 86.71% | 58.41% | 5.88% | 0.94% | 4.41% | 13.29% | 10.35% |
| Drugs (Pharmaceutical) | 281 | 1.27 | 11.41% | 88.02% | 64.88% | 5.88% | 2.37% | 4.41% | 11.98% | 10.57% |
| Education | 33 | 1.10 | 10.42% | 76.56% | 41.81% | 5.50% | 7.10% | 4.13% | 23.44% | 8.94% |
| Electrical Equipment | 110 | 1.59 | 13.32% | 81.62% | 58.55% | 5.88% | 4.47% | 4.41% | 18.38% | 11.68% |
| Electronics (Consumer & Office) | 16 | 1.54 | 13.02% | 85.87% | 39.56% | 5.50% | 3.98% | 4.13% | 14.13% | 11.76% |
| Electronics (General) | 138 | 1.20 | 11.02% | 84.16% | 44.94% | 5.50% | 6.29% | 4.13% | 15.84% | 9.92% |
| Engineering/Construction | 43 | 1.20 | 10.99% | 75.99% | 35.17% | 5.50% | 13.30% | 4.13% | 24.01% | 9.34% |
| Entertainment | 110 | 1.45 | 12.49% | 75.03% | 57.81% | 5.88% | 3.45% | 4.41% | 24.97% | 10.47% |
| Environmental & Waste Services | 62 | 1.02 | 9.91% | 79.66% | 48.09% | 5.50% | 5.42% | 4.13% | 20.34% | 8.73% |
| Farming/Agriculture | 39 | 1.14 | 10.65% | 74.70% | 54.43% | 5.88% | 6.64% | 4.41% | 25.30% | 9.07% |
| Financial Svcs. (Non-bank & Insurance) | 223 | 0.89 | 9.14% | 9.05% | 27.15% | 5.50% | 14.61% | 4.13% | 90.95% | 4.58% |
| Food Processing | 92 | 0.92 | 9.33% | 77.60% | 34.23% | 5.50% | 7.74% | 4.13% | 22.40% | 8.16% |
| Food Wholesalers | 14 | 1.12 | 10.55% | 68.42% | 32.42% | 5.50% | 11.94% | 4.13% | 31.58% | 8.52% |
| Furn/Home Furnishings | 32 | 1.27 | 11.43% | 64.13% | 41.91% | 5.50% | 12.67% | 4.13% | 35.87% | 8.81% |
| Green & Renewable Energy | 19 | 1.60 | 13.39% | 45.23% | 67.60% | 7.01% | 6.73% | 5.26% | 54.77% | 8.93% |
| Healthcare Products | 254 | 1.16 | 10.78% | 88.81% | 50.94% | 5.88% | 3.70% | 4.41% | 11.19% | 10.07% |
| Healthcare Support Services | 131 | 1.16 | 10.77% | 80.90% | 47.79% | 5.50% | 6.74% | 4.13% | 19.10% | 9.50% |
| Heathcare Information and Technology | 138 | 1.47 | 12.62% | 87.56% | 53.87% | 5.88% | 4.30% | 4.41% | 12.44% | 11.60% |
| Homebuilding | 32 | 1.50 | 12.80% | 75.57% | 33.33% | 5.50% | 17.81% | 4.13% | 24.43% | 10.68% |
| Hospitals/Healthcare Facilities | 34 | 1.17 | 10.85% | 53.41% | 51.19% | 5.88% | 9.56% | 4.41% | 46.59% | 7.85% |
| Hotel/Gaming | 69 | 1.46 | 12.55% | 60.03% | 38.05% | 5.50% | 8.14% | 4.13% | 39.97% | 9.18% |
| Household Products | 127 | 1.16 | 10.74% | 86.56% | 56.83% | 5.88% | 6.73% | 4.41% | 13.44% | 9.89% |
| Information Services | 73 | 1.40 | 12.22% | 88.45% | 45.11% | 5.50% | 12.45% | 4.13% | 11.55% | 11.29% |
| Insurance (General) | 21 | 1.23 | 11.17% | 76.63% | 43.76% | 5.50% | 10.26% | 4.13% | 23.37% | 9.53% |
| Insurance (Life) | 27 | 0.94 | 9.46% | 51.97% | 28.89% | 5.50% | 11.41% | 4.13% | 48.03% | 6.90% |
| Insurance (Prop/Cas.) | 51 | 0.80 | 8.65% | 82.33% | 27.67% | 5.50% | 10.92% | 4.13% | 17.67% | 7.85% |
| Investments & Asset Management | 600 | 0.62 | 7.58% | 72.28% | 9.91% | 4.73% | 4.01% | 3.55% | 27.72% | 6.47% |
| Machinery | 116 | 1.22 | 11.16% | 82.75% | 32.36% | 5.50% | 10.37% | 4.13% | 17.25% | 9.94% |
| Metals & Mining | 68 | 1.29 | 11.54% | 82.27% | 70.06% | 7.01% | 4.15% | 5.26% | 17.73% | 10.43% |
| Office Equipment & Services | 16 | 1.18 | 10.87% | 59.95% | 35.22% | 5.50% | 19.53% | 4.13% | 40.05% | 8.17% |
| Oil/Gas (Integrated) | 4 | 0.98 | 9.69% | 89.68% | 30.55% | 5.50% | 14.22% | 4.13% | 10.32% | 9.11% |
| Oil/Gas (Production and Exploration) | 174 | 1.26 | 11.35% | 83.28% | 56.98% | 5.88% | 4.60% | 4.41% | 16.72% | 10.19% |
| Oil/Gas Distribution | 23 | 0.99 | 9.77% | 58.34% | 33.55% | 5.50% | 6.90% | 4.13% | 41.66% | 7.42% |
| Oilfield Svcs/Equip. | 101 | 1.38 | 12.05% | 75.41% | 46.90% | 5.50% | 7.07% | 4.13% | 24.59% | 10.10% |
| Packaging & Container | 25 | 0.95 | 9.54% | 61.74% | 24.43% | 4.73% | 14.66% | 3.55% | 38.26% | 7.25% |
| Paper/Forest Products | 7 | 1.38 | 12.10% | 69.51% | 42.84% | 5.50% | 12.76% | 4.13% | 30.49% | 9.66% |
| Power | 48 | 0.73 | 8.19% | 56.45% | 17.18% | 4.73% | 12.30% | 3.55% | 43.55% | 6.17% |
| Precious Metals | 74 | 1.23 | 11.21% | 85.97% | 72.54% | 7.01% | 2.87% | 5.26% | 14.03% | 10.37% |
| Publishing & Newspapers | 20 | 1.11 | 10.50% | 70.34% | 30.92% | 5.50% | 9.67% | 4.13% | 29.66% | 8.61% |
| R.E.I.T. | 223 | 1.06 | 10.20% | 56.39% | 21.54% | 4.73% | 3.38% | 3.55% | 43.61% | 7.30% |
| Real Estate (Development) | 18 | 1.52 | 12.89% | 47.05% | 51.25% | 5.88% | 6.66% | 4.41% | 52.95% | 8.40% |
| Real Estate (General/Diversified) | 12 | 0.79 | 8.57% | 71.52% | 28.66% | 5.50% | 9.37% | 4.13% | 28.48% | 7.31% |
| Real Estate (Operations & Services) | 60 | 1.35 | 11.87% | 47.79% | 44.43% | 5.50% | 5.47% | 4.13% | 52.21% | 7.83% |
| Recreation | 57 | 1.42 | 12.30% | 65.76% | 42.13% | 5.50% | 9.49% | 4.13% | 34.24% | 9.50% |
| Reinsurance | 1 | 0.83 | 8.81% | 68.92% | 19.37% | 4.73% | 6.48% | 3.55% | 31.08% | 7.17% |
| Restaurant/Dining | 70 | 1.41 | 12.26% | 76.47% | 41.15% | 5.50% | 8.54% | 4.13% | 23.53% | 10.34% |
| Retail (Automotive) | 30 | 1.52 | 12.91% | 63.50% | 35.71% | 5.50% | 15.84% | 4.13% | 36.50% | 9.70% |
| Retail (Building Supply) | 15 | 1.79 | 14.51% | 82.50% | 37.55% | 5.50% | 13.39% | 4.13% | 17.50% | 12.69% |
| Retail (Distributors) | 69 | 1.28 | 11.45% | 71.65% | 37.08% | 5.50% | 13.59% | 4.13% | 28.35% | 9.38% |
| Retail (General) | 15 | 1.36 | 11.98% | 83.35% | 31.53% | 5.50% | 21.26% | 4.13% | 16.65% | 10.67% |
| Retail (Grocery and Food) | 13 | 0.67 | 7.85% | 60.31% | 28.26% | 5.50% | 16.45% | 4.13% | 39.69% | 6.37% |
| Retail (Online) | 63 | 1.49 | 12.71% | 83.91% | 59.41% | 5.88% | 4.09% | 4.41% | 16.09% | 11.38% |
| Retail (Special Lines) | 78 | 1.48 | 12.64% | 71.86% | 38.59% | 5.50% | 15.02% | 4.13% | 28.14% | 10.25% |
| Rubber& Tires | 3 | 0.84 | 8.86% | 23.24% | 39.79% | 5.50% | 0.00% | 4.13% | 76.76% | 5.22% |
| Semiconductor | 68 | 1.61 | 13.43% | 89.88% | 38.40% | 5.50% | 8.18% | 4.13% | 10.12% | 12.49% |
| Semiconductor Equip | 30 | 1.76 | 14.32% | 89.46% | 41.57% | 5.50% | 10.94% | 4.13% | 10.54% | 13.24% |
| Shipbuilding & Marine | 8 | 0.94 | 9.49% | 71.93% | 41.16% | 5.50% | 6.23% | 4.13% | 28.07% | 7.98% |
| Shoe | 13 | 1.33 | 11.77% | 91.73% | 39.37% | 5.50% | 10.70% | 4.13% | 8.27% | 11.13% |
| Software (Entertainment) | 91 | 1.36 | 11.98% | 95.42% | 58.71% | 5.88% | 3.82% | 4.41% | 4.58% | 11.63% |
| Software (Internet) | 33 | 1.55 | 13.09% | 84.99% | 55.24% | 5.88% | 2.37% | 4.41% | 15.01% | 11.79% |
| Software (System & Application) | 390 | 1.47 | 12.61% | 91.44% | 52.11% | 5.88% | 3.40% | 4.41% | 8.56% | 11.91% |
| Steel | 28 | 1.34 | 11.85% | 77.76% | 38.30% | 5.50% | 14.95% | 4.13% | 22.24% | 10.14% |
| Telecom (Wireless) | 16 | 1.03 | 10.00% | 60.55% | 51.92% | 5.88% | 3.83% | 4.41% | 39.45% | 7.80% |
| Telecom. Equipment | 79 | 1.23 | 11.20% | 89.54% | 41.35% | 5.50% | 4.06% | 4.13% | 10.46% | 10.46% |
| Telecom. Services | 49 | 0.88 | 9.12% | 45.93% | 55.37% | 5.88% | 6.54% | 4.41% | 54.07% | 6.57% |
| Tobacco | 15 | 2.00 | 15.76% | 80.61% | 44.06% | 5.50% | 9.83% | 4.13% | 19.39% | 13.51% |
| Transportation | 18 | 1.06 | 10.17% | 77.21% | 28.05% | 5.50% | 16.39% | 4.13% | 22.79% | 8.79% |
| Transportation (Railroads) | 4 | 1.11 | 10.46% | 78.46% | 16.34% | 4.73% | 16.57% | 3.55% | 21.54% | 8.97% |
| Trucking | 35 | 1.55 | 13.06% | 69.49% | 41.17% | 5.50% | 14.79% | 4.13% | 30.51% | 10.33% |
| Utility (General) | 15 | 0.64 | 7.65% | 57.41% | 14.97% | 4.73% | 13.20% | 3.55% | 42.59% | 5.90% |
| Utility (Water) | 16 | 1.15 | 10.73% | 69.74% | 27.96% | 5.50% | 8.45% | 4.13% | 30.26% | 8.73% |
| Total Market | 7165 | 1.16 | 10.75% | 65.14% | 41.37% | 5.50% | 7.52% | 4.13% | 34.86% | 8.44% |
| Total Market (without financials) | 5649 | 1.29 | 11.56% | 79.11% | 47.98% | 5.50% | 6.38% | 4.13% | 20.89% | 10.01% |
Last Updated in January 2023
By Aswath Damodaran