要理解WACC，想象公司使用多种资金来源，如借款和股东投资。WACC则是所有资金来源成本的加权平均，衡量公司融资成本的综合情况。成本权益（cost of equity）是指通过发行股票筹集资金的代价。上市公司的成本权益可以通过资本资产定价模型（CAPM）计算得出。终端价值（terminal value）是一个投资分析术语，用来估算...
小知识系列第二集: WACC; Cost of Equity, 视频播放量 754、弹幕量 1、点赞数 7、投硬币枚数 7、收藏人数 4、转发人数 0, 视频作者 Aierwen在英国, 作者简介 英国剑桥大学的新加坡留学生,相关视频:小知识系列第一集: WACC,[经验分享] 毕业留英的小建议 | 国际学生如何
This paper shows a formulation for the cost of equity and the WACC for growing perpetuities. Some authors have derived the general expressions for those formulas but not specifically for perpetuities with constant growth. The result obtained is that a previously general formulation for a finite ...
更为完整的计算还应包括优先股资本成本,WACC = Cost of Equity * % Equity + Cost of Debt * ( 1 - Tax Rate) % Debt + Cost of Preferred Stock * % Preferred Stock 注意FCF的假设前提 (1)不含任何财务杠杆即利息费用,所以基于EBIT计算税金 (2)考虑了所有现金流入并保留业务运营(CAPEX、营运资本增加...
cost of equity，就是企业通过权益融资的成本，如果是上市企业可以通过capm模型确定 terminal value的话，...
WACC Part 1 – Cost of Equity The cost of equity is calculated using theCapital Asset Pricing Model (CAPM)which equates rates of return to volatility (risk vs reward). Below is the formula for the cost of equity: Re = Rf + β × (Rm − Rf) ...
Enterprise Value vs. Equity ValueMarket ValueDiscount RateStakeholdersEarnings Power Value (EPV)Which Company Should Have a Higher Value? Cost of Capital (WACC) Cost of CapitalWACCDiscount FactorPresent Value Factor (PVF) Enterprise Value (TEV) Enterprise Value (TEV)Net DebtEquity Value to Ente...
WACC Part 1 – Cost of Equity The cost of equity is calculated using theCapital Asset Pricing Model (CAPM)which equates rates of return to volatility (risk vs reward). Below is the formula for the cost of equity: Re = Rf + β × (Rm − Rf) ...
WACC=(EV×Re)+(DV×Rd×(1−Tc))where:E=Market value of the firm’s equityD=Market value of the firm’s debtV=E+DRe=Cost of equityRd=Cost of debtTc=Corporate tax rate\begin{aligned} &\text{WACC} = \left ( \frac{ E }{ V} \times Re \right ) + \left ( \frac{ D }{...
plans to buy a big office space and has to raise $1 million to carry out this plan. The company then decides to sell 6,000 of its shares at $100 each to raise $600,000. The cost of equity is 6% as the shareholders of the company now anticipate a return of 6% in the investment...