By Roger J. Grabowski, James P. Harrington, Duff & Phelps, Carla Nunes
Real-world cost-of-capital info from throughout industries and round the globe
The 2016 foreign Valuation instruction manual - price of Capital deals a similar form of rigorous industry-level research released within the U.S.-centric Valuation guide - price of Capital. It offers industry-level expense of capital estimates (cost of fairness, price of debt, and weighted ordinary fee of capital, or WACC), plus exact industry-level records for revenues, industry capitalization, capital constitution, a variety of levered and unlevered beta estimates (e.g., ordinary-least squares (OLS) beta, sum beta, peer workforce beta, draw back beta, etc.), valuation (trading) multiples, monetary and profitability ratios, fairness returns, combination forward-looking earnings-per-share (EPS) progress charges, and more.
For additional information approximately Duff & Phelps valuation information assets released through Wiley, please stopover at www.wiley.com/go/valuationhandbooks.
- 2016 foreign Valuation guide - consultant to price of Capital
- 2016 Valuation guide - advisor to price of Capital
- 2016 Valuation guide - rate of Capital
- Four worldwide financial areas: The 2016 overseas Valuation guide - expense of Capital contains industry-level analyses for 4 international fiscal areas: the "World," the ecu Union, the Eurozone, and the uk. Industries within the booklet are pointed out via their international type usual (GICS) code (at the 2-, 4-, and 6-digit code level).
- Three currencies: Each of the 4 international region's analyses are awarded in 3 currencies: the Euro, the British pound, and the U.S. dollar.
Read Online or Download 2016 International Valuation Handbook: Industry Cost of Capital PDF
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Extra info for 2016 International Valuation Handbook: Industry Cost of Capital
The MSCI ACWI IMI, or the MSCI Europe Index). , debt) in the subject business's capital structure. , debt) removed, thereby reflecting only the effect of business risk. An unlevered beta is the beta that would be expected if a company were financed only with equity capital. One typically uses excess returns in the regression analysis that is performed to calculate beta estimates. Excess returns are calculated by subtracting a risk-free rate from the total returns of both the market benchmark (the “independent” variable in the regression), and the total returns of the company or portfolio (the “dependent” variable in the regression) for which the beta is being calculated.
The GICS code and a short description of the industry are provided in the upper left of each of the industry data pages. , “healthy”) set of companies is also provided. The main set of companies is used to calculate the “Median”, “GICS Composite”, “Large Composite”, and “Small Composite”. The number of companies included in the “High-FinancialRisk” company set for each industry data page is also available, as described in “Number of Companies in the Median, the Composites, and the High-Financial-Risk Category” later in this section.
You may notice that companies may be included in several different (though related) GICS codes, or you may also identify companies that are not included in an industry in which the company does participate. To demonstrate how this can occur, and to aid in understanding how the company sets are identified for each industry, consider the two hypothetical companies shown in Exhibit 13. Company 1 and Company 2 both derive 100% of their revenue from the same 6-digit GICS codes, but end up being included in the analysis for different sets of industries.