By Roger J. Grabowski, James P. Harrington, Carla Nunes
Real-world cost-of-capital information from throughout industries and round the globe
2015 overseas Valuation Handbook—Industry price of Capital is the fundamental reference for valuation pros, delivering country-level rate of fairness capital estimates for greater than one hundred fifty nations. up-to-date each year by way of the valuation specialists at Duff & Phelps, this authoritative consultant permits easy access to the information and adjustable capital versions required to properly make sure corporation chance. Methodologies are systematically specified by transparent, concise language, and monetary statistical calculations are defined intimately. Designed with a spotlight on practicality, this publication offers vast tables, charts, and definitions along real-world information shows from all significant industries to turn into a one-stop reference for the estimation of foreign expense of capital.
The price of capital is the predicted fee of go back for the aim of attracting money. The 2008 monetary situation exponentially elevated the trouble of estimation, and there's no 'one measurement matches all' resolution. This booklet is helping you intend and execute the right price of capital estimation to your specific objective, with large info and references supplied.
- Get professional suggestions on present methodologies and most sensible practices
- Perform exact calculations for a wide variety of monetary statistics
- Adjust for over a hundred and fifty kingdom- or region-specific risks
- Access facts from agriculture, production, transportation, prone, and more
Cost of capital estimation has lengthy been one among the main serious components in enterprise valuation, capital budgeting, feasibility experiences, and merger and acquisition judgements. probability performs a big position, and each department, asset, and undertaking merits a custom-tailored technique. 2015 foreign Valuation Handbook—Industry fee of Capital presents the globally-relevant, industry-specific, similar numbers that make exact estimation attainable
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Additional info for 2015 international valuation handbook: industry cost of capital
Exhibit 13: The “75% Rule” for Identifying “Pure Play” Companies by GICS Code Company 1 GICS Code 203020 203030 203040 GICS Code Description Airlines Marine Road & Rail Total Revenues Revenues € 5 € 12 € 83 € 100 GICS Code Description Airlines Marine Road & Rail Total Revenues Revenues € 33 € 33 € 34 € 100 Company 2 GICS Code 203020 203030 203040 Look now to Company 2 in Exhibit 13. At the 6-digit level, Company 2 will not be included in the industry analysis for GICS 203020, GICS 203030, or GICS 203040 (the company does not derive at least 75% of its revenue from any one of these GICS, and thus does not satisfy the 75% threshold in any instance).
46 2015 International Valuation Handbook – Industry Cost of Capital Unlevered Betas “Unlevered” betas (also called “asset” betas) have the effect of financial leverage removed, thereby reflecting only the effect of business risk. , no debt). The (levered) betas calculated in the industry analyses presented herein are as follows: (i) Raw (OLS) Beta, (ii) Blume-adjusted Raw (OLS) Beta, (iii) Peer Group Beta, (iv) Vasicek-adjusted Raw (OLS) Beta, (v) Sum Beta, and (vi) Downside Beta. Each of these levered betas is also presented in “unlevered” form.
The final result for Company 1 is summarized as follows: Company 1 will appear in the industry analysis for GICS 203040, GICS 2030, and GICS 20. Exhibit 13: The “75% Rule” for Identifying “Pure Play” Companies by GICS Code Company 1 GICS Code 203020 203030 203040 GICS Code Description Airlines Marine Road & Rail Total Revenues Revenues € 5 € 12 € 83 € 100 GICS Code Description Airlines Marine Road & Rail Total Revenues Revenues € 33 € 33 € 34 € 100 Company 2 GICS Code 203020 203030 203040 Look now to Company 2 in Exhibit 13.
2015 international valuation handbook: industry cost of capital by Roger J. Grabowski, James P. Harrington, Carla Nunes