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VeoliaJanv2017 (XLSX)

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Yes/No Book or Market Value ERP choices Cost of debt Synthetic rating Beta
Yes B Will input Direct input 1 Direct input
No V Country of incorporation Synthetic rating 2 Single Business(US)
  Operating countries Actual rating  Single Business(Global)
  Operating regions   Multibusiness(US)
     Multibusiness(Global)
Estimation of Current Cost of Capital       Operating Countries ERP calculator    
Inputs       Country Revenues ERP Weight Weighted ERP
Equity         0.00% 0.00% 0.00%
Number of Shares outstanding = 549.50        0.00% 0.00% 0.00%
Current Market Price per share =  $15.31         0.00% 0.00% 0.00%
         0.00% 0.00% 0.00%
Approach for estimating beta Single Business(Global)        0.00% 0.00% 0.00%
"If direct input  enter levered beta (or regression beta)" 1.20        0.00% 0.00% 0.00%
Unlevered beta = 1.11        0.00% 0.00% 0.00%
Riskfree Rate = 0.26%        0.00% 0.00% 0.00%
What approach do you want to use to input ERP? Operating regions        0.00% 0.00% 0.00%
"Direct input for ERP (if you choose ""will input""" 5.75%        0.00% 0.00% 0.00%
           
Equity Risk Premium used in cost of equity = 7.16%         0.00% 0.00%
       Total 0  0.00% 0.00%
Debt       Operating Regions ERP calculator    
Book Value of Straight Debt = " $12 350.90 "      Region Revenues ERP Weight Weighted ERP
Interest Expense on Debt =  $372.00       Africa  11.76% 0.00% 0.0000%
Average Maturity = 3      Asia  7.49% 0.00% 0.0000%
Approach for estimating pre-tax cost of debt Actual rating      Australia & New Zealand  6.00% 0.00% 0.0000%
"If direct input  input the pre-tax cost of debt" 3.500%      Caribbean  14.61% 0.00% 0.0000%
"If actual rating  input the rating" Ba1/BB+      Central and South America  10.42% 0.00% 0.0000%
"If synethetic rating  input the type of company" 1      Eastern Europe & Russia  9.65% 0.00% 0.0000%
Pre-tax Cost of Debt = 3.01%      Middle East  7.11% 0.00% 0.0000%
Tax Rate = 33%      North America  6.00% 0.00% 0.0000%
       Western Europe 14316.2 7.16% 100.00% 7.1604%
Book Value of Convertible Debt = 0      Rest of the world  7.50%  
Interest Expense on Convertible = 0      Total 14316.2  100.00% 7.1604%
Maturity of Convertible Bond = 0          
Market Value of Convertible = 0      Multi Business (US Industry Averages)    
       Business Revenues EV/Sales Estimated Value Unlevered Beta
Debt value of operating leases = " $1 324.59 "        0.0000  $-    0.0000
         0.0000  $-    0.0000
Preferred Stock         0.0000  $-    0.0000
Number of Preferred Shares = 0        0.0000  $-    0.0000
Current Market Price per Share= 70        0.0000  $-    0.0000
Annual Dividend per Share = 5        0.0000  $-    0.0000
         0.0000  $-    0.0000
Output         0.0000  $-    0.0000
Estimating Market Value of Straight Debt =  " $12 351.57 "       0.0000  $-    0.0000
Estimated Value of Straight Debt in Convertible =   $-          0.0000  $-    0.0000
Value of Debt in Operating leases =  " $1 324.59 "       0.0000  $-    0.0000
Estimated Value of Equity in Convertible =   $-          0.0000  $-    0.0000
Levered Beta for equity =  2.32     Company  $-      $-    #DIV/0!
           
 Equity Debt  Preferred Stock Capital   Multi Business (Global Industry Averages)    
Market Value " $8 412.85 " " $13 676.16 "  $-    " $22 089.00 "   Business Revenues EV/Sales Estimated Value Unlevered Beta
Weight in Cost of Capital 38.09% 61.91% 0.00% 100.00%     0.0000  $-    0.0000
Cost of Component 16.86% 2.02% 7.14% 7.67%     0.0000  $-    0.0000
         0.0000  $-    0.0000
       Company  $-      $-    #DIV/0!
Country GDP (in billions) Adj. Default Spread Total Risk Premium Country Risk Premium Corporate Tax Rate Region
Abu Dhabi 390 0.55% 6.74% 0.74% 55.00% Middle East
Albania 13.2 4.99% 12.71% 6.71% 15.00% Eastern Europe & Russia
Andorra (Principality of) 3.25 2.44% 9.28% 3.28% 0.00% Western Europe
Angola 138.4 3.33% 10.48% 4.48% 30.00% Africa
Argentina 537.8 8.31% 17.17% 11.17% 35.00% Central and South America
Armenia 11.6 3.99% 11.37% 5.37% 20.00% Eastern Europe & Russia
Aruba 2.6 1.77% 8.38% 2.38% 28.00% Caribbean
Australia 1454.7 0.00% 6.00% 0.00% 30.00% Australia & New Zealand
Austria 436.9 0.00% 6.00% 0.00% 25.00% Western Europe
Azerbaijan 75.2 2.44% 9.28% 3.28% 20.12% Eastern Europe & Russia
Bahamas 8.5 2.11% 8.84% 2.84% 0.00% Caribbean
Bahrain 33.9 2.44% 9.28% 3.28% 0.00% Middle East
Bangladesh 172.9 3.99% 11.37% 5.37% 27.50% Asia
Barbados 4.4 7.21% 15.70% 9.70% 25.00% Caribbean
Belarus 76.1 8.31% 17.17% 11.17% 18.00% Eastern Europe & Russia
Belgium 531.2 0.67% 6.90% 0.90% 33.99% Western Europe
Belize 1.7 9.98% 19.42% 13.42% 26.85% Central and South America
Bermuda 5.557 0.78% 7.05% 1.05% 0.00% Caribbean
Bolivia 33 3.99% 11.37% 5.37% 25.00% Central and South America
Bosnia and Herzegovina 18.3 7.21% 15.70% 9.70% 10.00% Eastern Europe & Russia
Botswana 15.8 0.94% 7.26% 1.26% 22.00% Africa
Brazil 2346.1 2.44% 9.28% 3.28% 34.00% Central and South America
Bulgaria 56.7 2.11% 8.84% 2.84% 10.00% Eastern Europe & Russia
Burkina Faso 12.5 7.21% 15.70% 9.70% 27.92% Africa
Cambodia 16.8 6.10% 14.20% 8.20% 0.00% Asia
Cameroon 32.1 6.10% 14.20% 8.20% 33.00% Africa
Canada 1785.4 0.00% 6.00% 0.00% 26.50% North America
Cayman Islands 3.2 0.67% 6.90% 0.90% 0.00% Caribbean
Cape Verde 1.9 6.10% 14.20% 8.20% 27.92% Africa
Chile 258.1 0.67% 6.90% 0.90% 22.50% Central and South America
China 10354.8 0.67% 6.90% 0.90% 25.00% Asia
Colombia 377.7 2.11% 8.84% 2.84% 25.00% Central and South America
Congo (Democratic Republic of) 33.1 7.21% 15.70% 9.70% 27.92% Africa
Congo (Republic of) 14.2 3.99% 11.37% 5.37% 27.92% Africa
Cook Islands 1.2 4.99% 12.71% 6.71% 27.00% Australia & New Zealand
Costa Rica 49.6 2.77% 9.72% 3.72% 30.00% Central and South America
Côte d'Ivoire 34.2 3.99% 11.37% 5.37% 27.92% Africa
Croatia 57.1 2.77% 9.72% 3.72% 20.00% Eastern Europe & Russia
Cuba 77.2 9.98% 19.42% 13.42% 27.35% Caribbean
Curacao 1 1.33% 7.79% 1.79% 25.00% Caribbean
Cyprus 23.2 4.99% 12.71% 6.71% 12.50% Western Europe
Czech Republic 205.3 0.78% 7.05% 1.05% 19.00% Eastern Europe & Russia
Denmark 342.4 0.00% 6.00% 0.00% 23.50% Western Europe
Dominican Republic 64.1 4.99% 12.71% 6.71% 27.00% Caribbean
Ecuador 100.9 7.21% 15.70% 9.70% 22.00% Central and South America
Egypt 286.5 7.21% 15.70% 9.70% 22.50% Africa
El Salvador 25.2 3.99% 11.37% 5.37% 30.00% Central and South America
Estonia 26.5 0.78% 7.05% 1.05% 20.00% Eastern Europe & Russia
Ethiopia 55.6 4.99% 12.71% 6.71% 27.92% Africa
Fiji 4.5 4.99% 12.71% 6.71% 20.00% Asia
Finland 272.2 0.00% 6.00% 0.00% 20.00% Western Europe
France 2829.2 0.55% 6.74% 0.74% 33.33% Western Europe
Gabon 18.2 3.99% 11.37% 5.37% 27.92% Africa
Georgia 16.5 3.99% 11.37% 5.37% 15.00% Eastern Europe & Russia
Germany 3868.3 0.00% 6.00% 0.00% 29.65% Western Europe
Ghana 38.6 7.21% 15.70% 9.70% 25.00% Africa
Greece 235.6 11.08% 20.90% 14.90% 29.00% Western Europe
Guatemala 58.8 2.77% 9.72% 3.72% 25.00% Central and South America
Guernsey (States of) 0.5 0.44% 6.59% 0.59% 0.00% Western Europe
Honduras 19.4 7.21% 15.70% 9.70% 30.00% Central and South America
Hong Kong 290.1 0.44% 6.59% 0.59% 16.50% Asia
Hungary 138.4 2.77% 9.72% 3.72% 19.00% Eastern Europe & Russia
Iceland 17 2.11% 8.84% 2.84% 20.00% Western Europe
India 2048.5 2.44% 9.28% 3.28% 34.61% Asia
Indonesia 888.5 2.44% 9.28% 3.28% 25.00% Asia
Ireland 250.8 1.77% 8.38% 2.38% 12.50% Western Europe
Isle of Man 1.4 0.44% 6.59% 0.59% 0.00% Western Europe
Israel 305.7 0.78% 7.05% 1.05% 26.50% Middle East
Italy 2141.2 2.11% 8.84% 2.84% 31.40% Western Europe
Jamaica 13.9 9.98% 19.42% 13.42% 25.00% Caribbean
Japan 4601.5 0.78% 7.05% 1.05% 33.06% Asia
Jersey (States of) 1 0.44% 6.59% 0.59% 0.00% Western Europe
Jordan 35.8 4.99% 12.71% 6.71% 20.00% Middle East
Kazakhstan 217.9 2.11% 8.84% 2.84% 20.00% Eastern Europe & Russia
Kenya 60.9 4.99% 12.71% 6.71% 30.00% Africa
Korea 1410.4 0.55% 6.74% 0.74% 24.20% Asia
Kuwait 163.6 0.55% 6.74% 0.74% 15.00% Middle East
Latvia 31.3 1.33% 7.79% 1.79% 15.00% Eastern Europe & Russia
Lebanon 45.7 6.10% 14.20% 8.20% 15.00% Middle East
Liechtenstein 10.5 0.00% 6.00% 0.00% 12.50% Western Europe
Lithuania 48.4 1.33% 7.79% 1.79% 15.00% Eastern Europe & Russia
Luxembourg 64.9 0.00% 6.00% 0.00% 29.22% Western Europe
Macao 55.5 0.55% 6.74% 0.74% 12.00% Asia
Macedonia 11.3 3.99% 11.37% 5.37% 10.00% Eastern Europe & Russia
Malaysia 338.1 1.33% 7.79% 1.79% 25.00% Asia
Malta 9.6 1.33% 7.79% 1.79% 35.00% Western Europe
Mauritius 12.6 1.77% 8.38% 2.38% 15.00% Asia
Mexico 1294.7 1.33% 7.79% 1.79% 30.00% Central and South America
Moldova 8 7.21% 15.70% 9.70% 12.00% Eastern Europe & Russia
Mongolia 12 6.10% 14.20% 8.20% 21.96% Asia
Montenegro 4.6 3.99% 11.37% 5.37% 9.00% Eastern Europe & Russia
Montserrat 1.5 2.44% 9.28% 3.28% 27.35% Caribbean
Morocco 110 2.77% 9.72% 3.72% 30.00% Africa
Mozambique 15.9 6.10% 14.20% 8.20% 32.00% Africa
Namibia 13 2.44% 9.28% 3.28% 33.00% Africa
Netherlands 879.3 0.00% 6.00% 0.00% 25.00% Western Europe
New Zealand 166.1 0.00% 6.00% 0.00% 28.00% Australia & New Zealand
Nicaragua 11.8 6.10% 14.20% 8.20% 26.85% Central and South America
Nigeria 568.5 3.99% 11.37% 5.37% 30.00% Africa
Norway 499.8 0.00% 6.00% 0.00% 27.00% Western Europe
Oman 81.8 0.78% 7.05% 1.05% 12.00% Middle East
Pakistan 243.6 7.21% 15.70% 9.70% 33.00% Asia
Panama 46.2 2.11% 8.84% 2.84% 25.00% Central and South America
Papua New Guinea 16.9 4.99% 12.71% 6.71% 30.00% Asia
Paraguay 30.9 2.77% 9.72% 3.72% 10.00% Central and South America
Peru 202.6 1.33% 7.79% 1.79% 28.00% Central and South America
Philippines 284.8 2.11% 8.84% 2.84% 30.00% Asia
Poland 545 0.94% 7.26% 1.26% 19.00% Eastern Europe & Russia
Portugal 230.1 2.77% 9.72% 3.72% 21.00% Western Europe
Qatar 210.1 0.55% 6.74% 0.74% 10.00% Middle East
Ras Al Khaimah (Emirate of) 5.2 0.94% 7.26% 1.26% 0.00% Middle East
Romania 199 2.44% 9.28% 3.28% 16.00% Eastern Europe & Russia
Russia 1860.6 2.77% 9.72% 3.72% 20.00% Eastern Europe & Russia
Rwanda 7.9 4.99% 12.71% 6.71% 27.92% Africa
Saudi Arabia 746.3 0.67% 6.90% 0.90% 20.00% Middle East
Senegal 15.7 4.99% 12.71% 6.71% 27.92% Africa
Serbia 43.9 4.99% 12.71% 6.71% 15.00% Eastern Europe & Russia
Sharjah 1 1.33% 7.79% 1.79% 0.00% Middle East
Singapore 307.9 0.00% 6.00% 0.00% 17.00% Asia
Slovakia 100.3 0.94% 7.26% 1.26% 22.00% Eastern Europe & Russia
Slovenia 49.5 2.44% 9.28% 3.28% 17.00% Eastern Europe & Russia
South Africa 350.6 2.11% 8.84% 2.84% 28.00% Africa
Spain 1381.3 2.11% 8.84% 2.84% 28.00% Western Europe
Sri Lanka 78.8 4.99% 12.71% 6.71% 28.00% Asia
St. Maarten 1.5 1.77% 8.38% 2.38% 24.50% Caribbean
St. Vincent & the Grenadines 0.713 7.21% 15.70% 9.70% 26.85% Caribbean
Suriname 5.2 3.99% 11.37% 5.37% 34.50% Central and South America
Sweden 571.1 0.00% 6.00% 0.00% 22.00% Western Europe
Switzerland 701 0.00% 6.00% 0.00% 17.92% Western Europe
Taiwan 970.9 0.67% 6.90% 0.90% 17.00% Asia
Thailand 404.8 1.77% 8.38% 2.38% 20.00% Asia
Trinidad and Tobago 28.9 2.11% 8.84% 2.84% 25.00% Caribbean
Tunisia 48.6 3.99% 11.37% 5.37% 25.00% Africa
Turkey 798.4 2.44% 9.28% 3.28% 20.00% Western Europe
Turks and Caicos Islands 1.5 1.77% 8.38% 2.38% 26.85% Caribbean
Uganda 27 4.99% 12.71% 6.71% 30.00% Africa
Ukraine 131.8 11.08% 20.90% 14.90% 18.00% Eastern Europe & Russia
United Arab Emirates 399.5 0.55% 6.74% 0.74% 55.00% Middle East
United Kingdom 2988.9 0.44% 6.59% 0.59% 20.00% Western Europe
United States of America 17419 0.00% 6.00% 0.00% 40.00% North America
Uruguay 57.5 2.11% 8.84% 2.84% 25.00% Central and South America
Venezuela 381.3 11.08% 20.90% 14.90% 34.00% Central and South America
Vietnam 186.2 4.99% 12.71% 6.71% 22.00% Asia
Zambia 27.1 6.10% 14.20% 8.20% 35.00% Africa
      
Region Weighted Average: TRP Weighted Average: CRP Weighted Average: Default Spreads Tax Rate  
Africa 11.76% 5.76% 4.29% 28.18%  
Asia 7.49% 1.49% 1.11% 26.90%  
Australia & New Zealand 6.00% 0.00% 0.00% 29.79%  
Caribbean 14.61% 8.61% 6.40% 24.90%  
Central and South America 10.42% 4.42% 3.29% 31.19%  
Eastern Europe & Russia 9.65% 3.65% 2.71% 19.04%  
Middle East 7.11% 1.11% 0.82% 30.34%  
North America 6.00% 0.00% 0.00% 38.74%  
Western Europe 7.16% 1.16% 0.86% 26.80%  
Global 7.45% 1.45% 1.08% 29.95%  
Country Marginal tax rate     Country Country Default Spread ERP Marginal tax rate CRP   Country Marginal tax rate
Abu Dhabi 55.00%     Abu Dhabi 0.50% 6.50% 55.00% 0.750%   Abu Dhabi 55.00%
Albania 15.00%     Albania 4.50% 12.50% 15.00% 6.750%   Albania 15.00%
Andorra 19.00%     Andorra 0.75% 6.88% 19.00% 1.130%   Andorra 19.00%
Angola 35.00%     Angola 3.00% 10.25% 35.00% 4.500%   Angola 35.00%
Anguilla 16.67%     Anguilla 5.75% 14.37% 16.67% 8.620%   Anguilla 16.67%
Argentina 35.00%     Argentina 7.50% 17.00% 35.00% 11.250%   Argentina 35.00%
Armenia 20.00%     Armenia 3.00% 10.25% 20.00% 4.500%   Armenia 20.00%
Aruba 28.00%     Aruba 6.50% 15.50% 28.00% 9.750%   Aruba 28.00%
Australia 30.00%     Australia 0.00% 5.75% 30.00% 0.000%   Australia 30.00%
Austria 25.00%     Austria 0.00% 5.75% 25.00% 0.000%   Austria 25.00%
Azerbaijan 25.00%     Azerbaijan 2.20% 9.05% 25.00% 3.300%   Azerbaijan 25.00%
Bahamas 0.00%     Bahamas 1.90% 8.60% 0.00% 2.850%   Bahamas 0.00%
Bahrain 0.00%     Bahrain 1.90% 8.60% 0.00% 2.850%   Bahrain 0.00%
Bangladesh 27.50%     Bangladesh 3.60% 11.15% 27.50% 5.400%   Bangladesh 27.50%
Barbados 25.00%     Barbados 6.50% 15.50% 25.00% 9.750%   Barbados 25.00%
Belarus 18.00%     Belarus 6.50% 15.50% 18.00% 9.750%   Belarus 18.00%
Belgium 33.99%     Belgium 0.60% 6.65% 33.99% 0.900%   Belgium 33.99%
Belize 33.99%     Belize 9.00% 19.25% 33.99% 13.500%   Belize 33.99%
Benin 27.85%     Benin 3.99% 11.73% 27.85% 5.980%   Benin 27.85%
Bermuda 0.00%     Bermuda 0.70% 6.80% 0.00% 1.050%   Bermuda 0.00%
Bolivia 25.00%     Bolivia 3.60% 11.15% 25.00% 5.400%   Bolivia 25.00%
Bosnia and Herzegovina 10.00%     Bosnia and Herzegovina 6.50% 15.50% 10.00% 9.750%   Bosnia and Herzegovina 10.00%
Botswana 22.00%     Botswana 0.85% 7.03% 22.00% 1.275%   Botswana 22.00%
Brazil 25.00%     Brazil 1.90% 8.60% 25.00% 2.850%   Brazil 25.00%
British Virgin Islands 16.67%     British Virgin Islands 5.75% 14.37% 16.67% 8.620%   British Virgin Islands 16.67%
Bulgaria 10.00%     Bulgaria 1.90% 8.60% 10.00% 2.850%   Bulgaria 10.00%
Burkina Faso 10.00%     Burkina Faso 6.50% 15.50% 10.00% 9.750%   Burkina Faso 10.00%
Cambodia 20.00%     Cambodia 5.50% 14.00% 20.00% 8.250%   Cambodia 20.00%
Cameroon 20.00%     Cameroon 5.50% 14.00% 20.00% 8.250%   Cameroon 20.00%
Canada 26.50%     Canada 0.00% 5.75% 26.50% 0.000%   Canada 26.50%
Cape Verde 26.50%     Cape Verde 5.50% 14.00% 26.50% 8.250%   Cape Verde 26.50%
Cayman Islands 0.00%     Cayman Islands 5.50% 14.00% 0.00% 8.250%   Cayman Islands 0.00%
Channel Islands 0.00%     Channel Islands 0.75% 6.88% 0.00% 1.130%   Channel Islands 0.00%
Chile 20.00%     Chile 0.60% 6.65% 20.00% 0.900%   Chile 20.00%
China 25.00%     China 0.60% 6.65% 25.00% 0.900%   China 25.00%
Colombia 25.00%     Colombia 1.90% 8.60% 25.00% 2.850%   Colombia 25.00%
Congo (Democratic Republic of) 27.85%     Congo (Democratic Republic of) 6.50% 15.50% 27.85% 9.750%   Congo (Democratic Republic of) 27.85%
Congo (Republic of) 27.85%     Congo (Republic of) 3.60% 11.15% 27.85% 5.400%   Congo (Republic of) 27.85%
Cook Islands 25.00%     Cook Islands 4.50% 12.50% 25.00% 6.750%   Cook Islands 25.00%
Costa Rica 30.00%     Costa Rica 2.50% 9.50% 30.00% 3.750%   Costa Rica 30.00%
Croatia 20.00%     Croatia 2.50% 9.50% 20.00% 3.750%   Croatia 20.00%
Cuba 20.00%     Cuba 9.00% 19.25% 20.00% 13.500%   Cuba 20.00%
Curaçao 27.50%     Curaçao 5.75% 14.37% 27.50% 8.620%   Curaçao 27.50%
Cyprus 12.50%     Cyprus 6.50% 15.50% 12.50% 9.750%   Cyprus 12.50%
Czech Republic 19.00%     Czech Republic 0.70% 6.80% 19.00% 1.050%   Czech Republic 19.00%
Denmark 24.50%     Denmark 0.00% 5.75% 24.50% 0.000%   Denmark 24.50%
Dominican Republic 28.00%     Dominican Republic 4.50% 12.50% 28.00% 6.750%   Dominican Republic 28.00%
Ecuador 22.00%     Ecuador 6.50% 15.50% 22.00% 9.750%   Ecuador 22.00%
Egypt 25.00%     Egypt 7.50% 17.00% 25.00% 11.250%   Egypt 25.00%
El Salvador 30.00%     El Salvador 3.60% 11.15% 30.00% 5.400%   El Salvador 30.00%
Estonia 21.00%     Estonia 0.70% 6.80% 21.00% 1.050%   Estonia 21.00%
Falkland Islands 0.00%     Falkland Islands 2.80% 9.95% 0.00% 4.200%   Falkland Islands 0.00%
Fiji 20.00%     Fiji 4.50% 12.50% 20.00% 6.750%   Fiji 20.00%
Finland 20.00%     Finland 0.00% 5.75% 20.00% 0.000%   Finland 20.00%
France 33.33%     France 0.40% 6.35% 33.33% 0.600%   France 33.33%
Gabon 33.33%     Gabon 3.60% 11.15% 33.33% 5.400%   Gabon 33.33%
Georgia 15.00%     Georgia 3.60% 11.15% 15.00% 5.400%   Georgia 15.00%
Germany 29.58%     Germany 0.00% 5.75% 29.58% 0.000%   Germany 29.58%
Ghana 25.00%     Ghana 5.50% 14.00% 25.00% 8.250%   Ghana 25.00%
Gibraltar 10.00%     Gibraltar 0.75% 6.88% 10.00% 1.130%   Gibraltar 10.00%
Greece 26.00%     Greece 7.50% 17.00% 26.00% 11.250%   Greece 26.00%
Greenland 26.00%     Greenland 0.75% 6.88% 26.00% 1.130%   Greenland 26.00%
Guatemala 28.00%     Guatemala 2.50% 9.50% 28.00% 3.750%   Guatemala 28.00%
Honduras 30.00%     Honduras 6.50% 15.50% 30.00% 9.750%   Honduras 30.00%
Hong Kong 30.00%     Hong Kong 0.40% 6.35% 30.00% 0.600%   Hong Kong 30.00%
Hungary 19.00%     Hungary 2.50% 9.50% 19.00% 3.750%   Hungary 19.00%
Iceland 20.00%     Iceland 2.20% 9.05% 20.00% 3.300%   Iceland 20.00%
India 33.99%     India 2.20% 9.05% 33.99% 3.300%   India 33.99%
Indonesia 25.00%     Indonesia 2.20% 9.05% 25.00% 3.300%   Indonesia 25.00%
Ireland 12.50%     Ireland 1.60% 8.15% 12.50% 2.400%   Ireland 12.50%
Isle of Man 0.00%     Isle of Man 0.40% 6.35% 0.00% 0.600%   Isle of Man 0.00%
Israel 26.50%     Israel 0.70% 6.80% 26.50% 1.050%   Israel 26.50%
Italy 31.40%     Italy 1.90% 8.60% 31.40% 2.850%   Italy 31.40%
Ivory Coast 27.85%     Ivory Coast 4.50% 12.50% 27.85% 6.750%   Ivory Coast 27.85%
Jamaica 25.00%     Jamaica 10.00% 20.75% 25.00% 15.000%   Jamaica 25.00%
Japan 35.64%     Japan 0.70% 6.80% 35.64% 1.050%   Japan 35.64%
Jordan 14.00%     Jordan 4.50% 12.50% 14.00% 6.750%   Jordan 14.00%
Kazakhstan 20.00%     Kazakhstan 1.90% 8.60% 20.00% 2.850%   Kazakhstan 20.00%
Kenya 30.00%     Kenya 4.50% 12.50% 30.00% 6.750%   Kenya 30.00%
Korea 30.00%     Korea 0.60% 6.65% 30.00% 0.900%   Korea 30.00%
Kuwait 15.00%     Kuwait 0.50% 6.50% 15.00% 0.750%   Kuwait 15.00%
Kyrgyzstan 20.00%     Kyrgyzstan 2.22% 9.08% 20.00% 3.330%   Kyrgyzstan 20.00%
Laos 21.91%     Laos 1.01% 7.26% 21.91% 1.510%   Laos 21.91%
Latvia 15.00%     Latvia 1.60% 8.15% 15.00% 2.400%   Latvia 15.00%
Lebanon 15.00%     Lebanon 5.50% 14.00% 15.00% 8.250%   Lebanon 15.00%
Liechtenstein 12.50%     Liechtenstein 0.00% 5.75% 12.50% 0.000%   Liechtenstein 12.50%
Lithuania 15.00%     Lithuania 1.60% 8.15% 15.00% 2.400%   Lithuania 15.00%
Luxembourg 29.22%     Luxembourg 0.00% 5.75% 29.22% 0.000%   Luxembourg 29.22%
Macau 12.00%     Macau 0.50% 6.50% 12.00% 0.750%   Macau 12.00%
Macedonia 10.00%     Macedonia 3.60% 11.15% 10.00% 5.400%   Macedonia 10.00%
Malawi 30.00%     Malawi 3.99% 11.73% 30.00% 5.980%   Malawi 30.00%
Malaysia 25.00%     Malaysia 1.20% 7.55% 25.00% 1.800%   Malaysia 25.00%
Malta 35.00%     Malta 1.20% 7.55% 35.00% 1.800%   Malta 35.00%
Marshall Islands 0.00%     Marshall Islands 1.01% 7.26% 0.00% 1.510%   Marshall Islands 0.00%
Mauritius 15.00%     Mauritius 1.60% 8.15% 15.00% 2.400%   Mauritius 15.00%
Mexico 30.00%     Mexico 1.20% 7.55% 30.00% 1.800%   Mexico 30.00%
Moldova 25.00%     Moldova 6.50% 15.50% 25.00% 9.750%   Moldova 25.00%
Monaco 30.00%     Monaco 0.00% 5.75% 30.00% 0.000%   Monaco 30.00%
Mongolia 30.00%     Mongolia 5.50% 14.00% 30.00% 8.250%   Mongolia 30.00%
Montenegro 9.00%     Montenegro 3.60% 11.15% 9.00% 5.400%   Montenegro 9.00%
Montserrat 20.00%     Montserrat 2.20% 9.05% 20.00% 3.300%   Montserrat 20.00%
Morocco 30.00%     Morocco 2.50% 9.50% 30.00% 3.750%   Morocco 30.00%
Mozambique 32.00%     Mozambique 4.50% 12.50% 32.00% 6.750%   Mozambique 32.00%
Namibia 33.00%     Namibia 2.20% 9.05% 33.00% 3.300%   Namibia 33.00%
Netherlands 25.00%     Netherlands 0.00% 5.75% 25.00% 0.000%   Netherlands 25.00%
Netherlands Antilles 20.00%     Netherlands Antilles 0.00% 5.75% 20.00% 0.000%   Netherlands Antilles 20.00%
New Zealand 28.00%     New Zealand 0.00% 5.75% 28.00% 0.000%   New Zealand 28.00%
Nicaragua 27.15%     Nicaragua 6.50% 15.50% 27.15% 9.750%   Nicaragua 27.15%
Niger 27.85%     Niger 3.99% 11.73% 27.85% 5.980%   Niger 27.85%
Nigeria 30.00%     Nigeria 3.60% 11.15% 30.00% 5.400%   Nigeria 30.00%
Norway 27.00%     Norway 0.00% 5.75% 27.00% 0.000%   Norway 27.00%
Oman 12.00%     Oman 0.70% 6.80% 12.00% 1.050%   Oman 12.00%
Pakistan 34.00%     Pakistan 7.50% 17.00% 34.00% 11.250%   Pakistan 34.00%
Palestinian Authority 20.00%     Palestinian Authority 7.50% 17.00% 20.00% 11.250%   Palestinian Authority 20.00%
Panama 25.00%     Panama 1.90% 8.60% 25.00% 2.850%   Panama 25.00%
Papua New Guinea 30.00%     Papua New Guinea 4.50% 12.50% 30.00% 6.750%   Papua New Guinea 30.00%
Paraguay 10.00%     Paraguay 3.00% 10.25% 10.00% 4.500%   Paraguay 10.00%
Peru 30.00%     Peru 1.20% 7.55% 30.00% 1.800%   Peru 30.00%
Philippines 30.00%     Philippines 1.90% 8.60% 30.00% 2.850%   Philippines 30.00%
Poland 19.00%     Poland 0.85% 7.03% 19.00% 1.275%   Poland 19.00%
Portugal 23.00%     Portugal 2.50% 9.50% 23.00% 3.750%   Portugal 23.00%
Qatar 10.00%     Qatar 0.50% 6.50% 10.00% 0.750%   Qatar 10.00%
Reunion 0.00%     Reunion 0.00% 5.75% 0.00% 0.000%   Reunion 0.00%
Romania 16.00%     Romania 2.20% 9.05% 16.00% 3.300%   Romania 16.00%
Russia 20.00%     Russia 1.90% 8.60% 20.00% 2.850%   Russia 20.00%
Rwanda 27.85%     Rwanda 5.50% 14.00% 27.85% 8.250%   Rwanda 27.85%
Samoa 27.00%     Samoa 5.50% 14.00% 27.00% 8.250%   Samoa 27.00%
Saudi Arabia 20.00%     Saudi Arabia 0.60% 6.65% 20.00% 0.900%   Saudi Arabia 20.00%
Senegal 27.85%     Senegal 4.50% 12.50% 27.85% 6.750%   Senegal 27.85%
Serbia 15.00%     Serbia 4.50% 12.50% 15.00% 6.750%   Serbia 15.00%
Sierra Leone 30.00%     Sierra Leone 3.99% 11.73% 30.00% 5.980%   Sierra Leone 30.00%
Singapore 17.00%     Singapore 0.00% 5.75% 17.00% 0.000%   Singapore 17.00%
Slovakia 22.00%     Slovakia 0.85% 7.03% 22.00% 1.275%   Slovakia 22.00%
Slovenia 17.00%     Slovenia 2.50% 9.50% 17.00% 3.750%   Slovenia 17.00%
South Africa 28.00%     South Africa 1.90% 8.60% 28.00% 2.850%   South Africa 28.00%
Spain 30.00%     Spain 1.90% 8.60% 30.00% 2.850%   Spain 30.00%
Sri Lanka 28.00%     Sri Lanka 4.50% 12.50% 28.00% 6.750%   Sri Lanka 28.00%
St. Maarten 20.00%     St. Maarten 1.60% 8.15% 20.00% 2.400%   St. Maarten 20.00%
St. Vincent & the Grenadines 20.00%     St. Vincent & the Grenadines 6.50% 15.50% 20.00% 9.750%   St. Vincent & the Grenadines 20.00%
Sudan 35.00%     Sudan 3.99% 11.73% 35.00% 5.980%   Sudan 35.00%
Suriname 34.50%     Suriname 3.60% 11.15% 34.50% 5.400%   Suriname 34.50%
Sweden 22.00%     Sweden 0.00% 5.75% 22.00% 0.000%   Sweden 22.00%
Switzerland 17.92%     Switzerland 0.00% 5.75% 17.92% 0.000%   Switzerland 17.92%
Taiwan 17.00%     Taiwan 0.60% 6.65% 17.00% 0.900%   Taiwan 17.00%
Tanzania 30.00%     Tanzania 3.99% 11.73% 30.00% 5.980%   Tanzania 30.00%
Thailand 20.00%     Thailand 1.60% 8.15% 20.00% 2.400%   Thailand 20.00%
Togo 27.85%     Togo 3.99% 11.73% 27.85% 5.980%   Togo 27.85%
Trinidad & Tobago 25.00%     Trinidad & Tobago 1.60% 8.15% 25.00% 2.400%   Trinidad & Tobago 25.00%
Tunisia 25.00%     Tunisia 3.60% 11.15% 25.00% 5.400%   Tunisia 25.00%
Turkey 20.00%     Turkey 2.20% 9.05% 20.00% 3.300%   Turkey 20.00%
Turks & Caicos Islands 20.00%     Turks & Caicos Islands 2.20% 9.05% 20.00% 3.300%   Turks & Caicos Islands 20.00%
Uganda 30.00%     Uganda 4.50% 12.50% 30.00% 6.750%   Uganda 30.00%
Ukraine 18.00%     Ukraine 10.00% 20.75% 18.00% 15.000%   Ukraine 18.00%
United Arab Emirates 55.00%     United Arab Emirates 0.50% 6.50% 55.00% 0.750%   United Arab Emirates 55.00%
United Kingdom 21.00%     United Kingdom 0.40% 6.35% 21.00% 0.600%   United Kingdom 21.00%
United States 40.00%     United States 0.00% 5.75% 40.00% 0.000%   United States 40.00%
Uruguay 25.00%     Uruguay 1.90% 8.60% 25.00% 2.850%   Uruguay 25.00%
Venezuela 34.00%     Venezuela 7.50% 17.00% 34.00% 11.250%   Venezuela 34.00%
Vietnam 22.00%     Vietnam 4.50% 12.50% 22.00% 6.750%   Vietnam 22.00%
Zambia 35.00%     Zambia 4.50% 12.50% 35.00% 6.750%   Zambia 35.00%
Zimbabwe 27.85%     Zimbabwe 3.99% 11.73% 27.85% 5.980%   Zimbabwe 27.85%
              
Region Tax Rate             
Africa 27.85%             
Asia 21.91%             
Australia & New Zealand 26.00%             
Caribbean 14.92%             
Central and South America 27.15%             
Eastern Europe & Russia 16.38%             
Middle East 19.22%             
North America 33.25%             
Western Europe 19.68%             
Global 23.57%             
VALUATION DIAGNOSTICS   
Invested capital at start of valuation " $19 426.19 "  
Invested capital at end of valuation " $23 773.05 "  
Change in invested capital over 10 years " $4 346.86 "  
Change in EBIT*(1–t) (after-tax operating income) over 10 years " $1 132.60 "  
Marginal ROIC over 10 years 26.06%  
ROIC at end of valuation 7.43%  
Average WACC over the 10 years (compounded) 7.17%  
Your calculated value as a percent of current price 125.38%  
    
Inputs If calculated value is negative or looks too low If calculated value looks too high 
Revenue growth rate (input cell B3) Increase revenue growth rate Decrease revenue growth rate 
Last period EBIT as % of revenue (Input cell B14) Increase the target pre-tax operating margin Decrease the target pre-tax operating margin  
Sales to Capital Ratio or reinvestment (Input cell B15) Decrease the sales/capital ratio Increase the sales/capital ratio  
Return on capital in perpetuity (B30 & B31) Increase relative to your cost of capital "If higher than your cost of capital  lower towards your cost of capital" T
Industry Name Number of firms Annual Average Revenue growth - Last 5 years Pre-tax Operating Margin After-tax ROC Average effective tax rate Unlevered Beta Equity (Levered) Beta Cost of equity Std deviation in stock prices Pre-tax cost of debt Market Debt/Capital Cost of capital Sales/Capital EV/Sales EV/EBITDA EV/EBIT Price/Book Trailing PE Non-cash WC as % of Revenues Cap Ex as % of Revenues Net Cap Ex as % of Revenues Reinvestment Rate ROE Dividend Payout Ratio Equity Reinvestment Rate
Advertising 240 9.50% 12.05% 34.40% 28.07% 0.96 1.11 10.54% 56.26% 5.10% 22.51% 8.97% 3.42 1.95 10.21 15.47 3.02 36.50 -8.80% 2.30% 6.42% 72.42% 12.10% 44.70% 44.70%
Aerospace/Defense 211 8.10% 10.08% 19.98% 28.02% 1.05 1.18 11.05% 47.55% 4.60% 18.76% 9.58% 2.29 1.48 10.92 14.52 4.10 68.17 21.11% 3.34% 4.49% 96.18% 12.48% 51.76% 51.76%
Air Transport 160 8.19% 10.52% 9.83% 20.14% 0.61 0.96 9.41% 39.84% 4.60% 44.95% 6.63% 1.10 1.51 6.89 14.29 2.49 18.72 -4.24% 10.85% 6.01% 66.14% 18.38% 19.58% 19.58%
Apparel 1174 5.87% 11.42% 12.56% 26.43% 0.79 0.89 8.90% 50.71% 5.10% 19.40% 7.87% 1.30 1.86 10.56 15.74 2.66 56.90 24.27% 3.73% 4.04% 65.65% 11.39% 41.97% 41.97%
Auto & Truck 125 5.86% 6.33% 6.35% 26.00% 0.83 1.25 11.61% 42.42% 4.60% 44.94% 7.84% 1.19 0.94 8.89 14.32 1.44 20.35 7.18% 6.93% 6.80% 167.58% 13.01% 28.58% 28.58%
Auto Parts 632 7.40% 7.09% 10.88% 26.69% 1.21 1.31 12.00% 46.23% 4.60% 18.42% 10.38% 1.88 0.92 8.08 12.89 1.97 51.21 10.18% 6.02% 6.30% 140.28% 12.33% 26.04% 26.04%
Bank (Money Center) 598 10.96% 0.07% 0.01% 23.69% 0.36 0.94 9.28% 30.16% 4.60% 74.21% 4.78% 0.11 8.87 NA NA 0.99 15.02 NA 4.60% 5.19% 731.31% 10.20% 32.50% 32.50%
Banks (Regional) 875 10.86% -0.04% -0.01% 28.04% 0.47 0.60 6.76% 29.35% 4.60% 55.00% 4.81% 0.25 4.44 NA NA 0.97 17.08 NA 5.38% 0.87% NA 8.79% 24.93% 24.93%
Beverage (Alcoholic) 212 7.24% 20.17% 12.14% 23.11% 0.75 0.85 8.59% 41.27% 4.60% 16.65% 7.69% 0.74 3.69 14.11 18.22 3.35 52.21 11.01% 4.82% 4.32% 35.03% 12.87% 56.51% 56.51%
Beverage (Soft) 104 6.44% 14.90% 18.23% 28.00% 0.92 1.06 10.17% 38.43% 4.60% 19.07% 8.85% 1.41 2.90 14.73 19.45 5.91 35.69 1.88% 4.39% 5.41% 47.55% 17.62% 79.02% 79.02%
Broadcasting 145 5.42% 17.97% 15.69% 30.11% 0.89 1.18 11.09% 43.59% 4.60% 31.64% 8.60% 1.09 2.55 10.43 14.19 2.38 31.32 13.42% 3.48% 4.51% 43.10% 7.06% 68.11% 68.11%
Brokerage & Investment Banking 542 7.81% 0.16% 0.03% 24.57% 0.44 1.05 10.11% 48.94% 4.60% 68.16% 5.41% 0.21 6.49 NA NA 1.51 234.53 NA 3.07% 3.47% -53014.09% 13.54% 26.69% 26.69%
Building Materials 422 5.69% 7.95% 9.68% 30.95% 0.86 1.01 9.78% 44.26% 4.60% 24.60% 8.16% 1.51 1.30 10.42 16.15 2.11 41.32 17.78% 4.36% 6.02% 118.51% 7.18% 44.54% 44.54%
Business & Consumer Services 766 8.78% 8.83% 20.39% 30.91% 0.87 1.00 9.70% 47.26% 4.60% 21.45% 8.31% 2.84 1.51 10.85 16.35 3.69 52.29 9.87% 2.93% 4.68% 90.83% 11.79% 54.26% 54.26%
Cable TV 66 12.97% 18.03% 13.45% 30.94% 0.80 1.11 10.50% 37.52% 4.60% 32.68% 8.12% 0.88 3.90 11.53 21.48 5.06 83.14 4.19% 12.61% 18.38% 143.89% 18.67% 37.85% 37.85%
Chemical (Basic) 735 7.01% 8.50% 7.64% 20.46% 0.94 1.11 10.56% 46.05% 4.60% 25.27% 8.71% 1.07 1.43 9.58 15.63 1.74 56.64 13.58% 5.82% 6.60% 83.65% 8.10% 59.18% 59.18%
Chemical (Diversified) 79 5.80% 8.94% 9.57% 27.43% 1.08 1.35 12.35% 40.55% 4.60% 29.15% 9.69% 1.35 1.16 8.03 12.78 1.96 73.75 17.45% 6.73% 8.63% 134.53% 13.73% 42.74% 42.74%
Chemical (Specialty) 713 7.91% 11.74% 12.23% 22.21% 1.03 1.18 11.04% 47.83% 4.60% 20.47% 9.44% 1.24 1.81 10.43 14.99 2.68 68.40 17.08% 6.83% 9.41% 114.62% 14.20% 41.85% 41.85%
Coal & Related Energy 280 2.34% 6.31% 3.55% 25.94% 0.95 1.40 12.72% 69.05% 5.60% 41.99% 9.03% 0.60 1.91 9.02 26.20 1.10 258.24 2.80% 12.76% 8.59% 277.38% -3.07% 19.51% 19.51%
Computer Services 918 6.98% 7.60% 21.34% 25.53% 0.95 1.02 9.85% 48.82% 4.60% 15.73% 8.81% 3.46 1.12 10.58 14.31 3.68 99.24 13.27% 1.74% 2.55% 56.30% 19.29% 32.62% 32.62%
Computers/Peripherals 332 2.04% 11.71% 18.37% 23.94% 1.27 1.32 12.14% 50.01% 5.10% 16.38% 10.74% 1.79 1.12 6.59 9.54 2.10 344.79 7.62% 5.23% 6.62% 82.07% 17.15% 26.66% 26.66%
Construction Supplies 733 6.75% 6.67% 6.10% 25.12% 0.89 1.14 10.78% 43.43% 4.60% 33.26% 8.27% 1.09 1.41 10.68 19.72 1.64 49.45 15.04% 5.39% 5.27% 130.79% 6.15% 72.57% 72.57%
Diversified 361 6.22% 13.38% 9.44% 24.91% 0.70 1.01 9.82% 35.84% 4.60% 40.37% 7.15% 0.82 1.73 9.33 12.68 1.22 62.71 -12.80% 5.33% 8.07% 97.52% 9.63% 32.82% 32.82%
Drugs (Biotechnology) 831 16.50% 31.50% 17.99% 20.18% 1.21 1.27 11.76% 78.04% 5.60% 11.19% 10.88% 0.59 8.67 14.92 24.32 7.29 229.52 22.03% 5.30% 29.25% 173.67% 17.81% 36.28% 36.28%
Drugs (Pharmaceutical) 926 11.52% 20.08% 12.88% 21.15% 1.02 1.10 10.45% 54.45% 5.10% 12.45% 9.60% 0.73 4.32 14.97 21.62 3.65 67.64 19.62% 4.21% 22.05% 153.26% 16.40% 51.99% 51.99%
Education 167 5.75% 9.34% 10.24% 29.19% 0.92 1.05 10.13% 50.68% 5.10% 25.72% 8.44% 1.30 1.70 8.70 17.38 1.90 43.61 8.65% 5.61% 9.35% 160.25% 3.89% 60.43% 60.43%
Electrical Equipment 822 7.99% 7.33% 10.10% 24.46% 1.09 1.19 11.12% 51.61% 5.10% 17.98% 9.76% 1.61 1.61 13.12 20.35 2.67 61.44 23.49% 4.28% 5.24% 121.16% 5.97% 70.42% 70.42%
Electronics (Consumer & Office) 153 -0.74% 5.09% 9.52% 23.68% 1.18 1.29 11.87% 53.55% 5.10% 27.53% 9.58% 2.03 0.56 6.90 14.69 1.51 561.66 6.21% 3.61% 5.51% 219.95% 4.23% 52.79% 52.79%
Electronics (General) 1219 4.83% 7.02% 9.41% 22.10% 1.24 1.27 11.74% 50.23% 5.10% 15.93% 10.44% 1.56 1.19 9.67 16.54 2.01 76.02 17.73% 5.16% 6.74% 152.90% 10.06% 30.68% 30.68%
Engineering/Construction 1117 6.85% 4.54% 7.66% 27.32% 0.90 1.20 11.17% 46.67% 4.60% 42.32% 7.81% 2.02 0.67 9.17 14.30 1.47 49.18 11.34% 3.07% 2.96% 131.76% 7.01% 104.03% 104.03%
Entertainment 350 9.70% 18.05% 20.86% 27.77% 1.06 1.22 11.33% 55.77% 5.10% 19.99% 9.78% 1.28 3.02 11.81 16.19 3.04 140.75 9.18% 4.60% 2.52% 86.88% 18.39% 35.29% 35.29%
Environmental & Waste Services 305 10.07% 8.49% 12.01% 27.11% 1.11 1.33 12.19% 59.81% 5.10% 22.81% 10.22% 1.61 2.04 11.68 23.57 3.09 39.25 9.37% 6.49% 4.30% 103.84% 2.98% 165.23% 165.23%
Farming/Agriculture 403 8.90% 5.35% 5.83% 26.71% 0.76 1.01 9.79% 44.87% 4.60% 31.65% 7.71% 1.22 1.31 12.24 18.94 2.20 59.54 20.72% 4.19% 5.26% 148.63% 5.85% 50.98% 50.98%
Financial Svcs. (Non-bank & Insurance) 988 16.49% 7.79% 0.30% 27.60% 0.10 0.73 7.68% 40.41% 4.60% 89.47% 3.69% 0.05 21.42 158.98 NA 1.35 83.27 NA 8.31% 12.04% 238.80% 10.01% 37.25% 37.25%
Food Processing 1228 7.62% 8.38% 12.28% 23.22% 0.72 0.82 8.40% 40.10% 4.60% 19.30% 7.40% 1.75 1.64 13.34 19.02 2.66 60.59 10.47% 4.60% 6.77% 111.73% 11.93% 44.64% 44.64%
Food Wholesalers 119 7.42% 2.85% 13.59% 26.96% 0.49 0.71 7.52% 41.38% 4.60% 41.29% 5.75% 5.77 0.38 8.52 13.13 1.42 29.70 3.87% 1.50% 1.74% 93.57% 7.15% 72.39% 72.39%
Furn/Home Furnishings 303 5.90% 7.86% 14.74% 19.08% 1.03 1.04 9.99% 45.68% 4.60% 14.25% 9.03% 2.28 1.23 11.28 15.52 2.62 52.16 8.17% 3.32% 4.99% 59.56% 15.05% 40.11% 40.11%
Green & Renewable Energy 172 20.38% 34.55% 6.69% 18.29% 0.72 1.17 10.96% 52.30% 5.10% 42.88% 7.79% 0.21 6.95 11.21 19.78 1.46 44.36 0.74% 45.94% 41.59% 153.55% 7.94% 77.27% 77.27%
Healthcare Products 661 9.99% 16.47% 15.87% 24.99% 0.93 1.02 9.90% 57.36% 5.10% 15.17% 8.94% 1.06 3.90 15.43 23.17 3.56 111.33 25.92% 5.59% 20.87% 186.54% 9.68% 48.30% 48.30%
Healthcare Support Services 335 7.32% 4.83% 29.94% 37.86% 0.98 1.15 10.80% 49.48% 4.60% 23.02% 9.06% 7.56 0.65 10.25 13.03 2.77 47.77 -0.24% 1.00% 3.13% 121.14% 12.46% 26.03% 26.03%
Heathcare Information and Technology 298 12.82% 12.53% 13.17% 17.75% 0.98 1.09 10.38% 60.83% 5.10% 14.06% 9.43% 1.15 3.95 18.06 30.37 4.40 65.61 23.36% 3.82% 7.74% 99.90% 10.65% 16.13% 16.13%
Homebuilding 160 8.29% 8.94% 8.13% 28.70% 0.93 1.16 10.94% 39.93% 4.60% 31.47% 8.51% 1.15 1.24 10.48 13.35 1.58 18.40 58.16% 0.80% 0.86% 65.66% 12.35% 20.07% 20.07%
Hospitals/Healthcare Facilities 211 12.13% 11.72% 8.03% 22.78% 0.42 0.67 7.26% 35.73% 4.60% 42.28% 5.55% 0.81 2.63 12.01 22.01 2.48 35.79 14.22% 5.60% 8.41% 130.16% 10.95% 80.92% 80.92%
Hotel/Gaming 651 10.78% 12.58% 8.51% 15.99% 0.73 0.93 9.16% 45.30% 4.60% 30.18% 7.37% 0.78 2.56 11.66 20.04 2.13 67.65 -1.70% 8.14% 7.70% 79.28% 11.37% 44.30% 44.30%
Household Products 481 10.83% 15.45% 23.22% 29.76% 0.96 1.04 10.00% 49.86% 4.60% 12.09% 9.18% 1.77 2.82 14.36 17.99 5.09 64.34 9.03% 3.92% 5.08% 46.60% 17.18% 58.30% 58.30%
Information Services 186 8.89% 21.99% 34.60% 28.06% 1.04 1.13 10.69% 48.17% 4.60% 13.92% 9.65% 1.89 4.42 15.56 20.08 5.58 75.56 3.03% 4.71% 7.76% 51.16% 22.44% 25.12% 25.12%
Insurance (General) 212 11.22% 8.52% 10.24% 25.01% 0.71 0.79 8.13% 32.81% 4.60% 28.56% 6.73% 1.43 0.86 8.16 9.91 1.09 19.60 14.59% 1.10% 0.21% 2.66% 7.82% 46.02% 46.02%
Insurance (Life) 122 7.83% 9.53% 12.02% 26.57% 1.30 1.09 10.39% 31.95% 4.60% 38.13% 7.65% 1.54 0.67 6.13 6.75 1.13 16.09 -148.87% 0.56% 0.79% 13.05% 11.64% 31.31% 31.31%
Insurance (Prop/Cas.) 219 8.51% 11.09% 11.48% 24.31% 0.57 0.63 6.99% 32.24% 4.60% 22.90% 6.13% 1.26 1.06 8.61 9.51 1.26 17.09 -26.53% 0.68% 1.17% 11.78% 11.06% 27.98% 27.98%
Investments & Asset Management 927 10.18% 24.31% 7.68% 17.80% 0.62 0.90 8.95% 44.62% 4.60% 42.85% 6.49% 0.34 4.64 16.66 16.95 1.24 240.44 NA 2.21% -0.35% -2.34% 12.37% 47.83% 47.83%
Machinery 1245 6.34% 9.67% 11.86% 28.03% 1.14 1.21 11.32% 46.43% 4.60% 16.82% 9.95% 1.51 1.63 11.60 16.34 2.58 78.91 24.67% 3.95% 5.31% 96.72% 9.64% 45.63% 45.63%
Metals & Mining 1518 8.41% 9.19% 7.36% 38.77% 0.98 1.48 13.31% 79.44% 5.60% 40.36% 9.52% 0.83 1.22 6.40 12.61 0.99 73.74 8.55% 12.08% 10.96% 164.49% -1.96% 0.76% 0.76%
Office Equipment & Services 151 3.92% 9.77% 15.80% 32.47% 0.88 1.02 9.85% 46.53% 4.60% 24.60% 8.22% 2.01 1.27 8.92 12.81 2.81 38.52 13.13% 3.38% 4.60% 78.99% 13.89% 34.20% 34.20%
Oil/Gas (Integrated) 49 3.16% 3.54% 2.73% 39.97% 1.35 1.70 14.97% 37.73% 4.60% 32.86% 11.11% 0.99 0.90 6.40 25.39 0.93 45.04 2.63% 13.19% 4.94% 175.97% 2.35% 159.28% 159.28%
Oil/Gas (Production and Exploration) 1029 14.31% 0.97% 0.33% 31.88% 1.13 1.87 16.17% 77.83% 5.60% 43.98% 10.78% 0.36 2.59 5.00 NA 0.95 84.56 3.67% 53.06% 12.38% NA -16.03% 3.41% 3.41%
Oil/Gas Distribution 207 11.81% 10.61% 7.75% 11.89% 0.85 1.55 13.83% 47.54% 4.60% 48.79% 8.65% 0.81 2.18 11.75 19.31 1.24 30.33 2.71% 21.48% 22.77% 243.12% 7.53% 179.37% 179.37%
Oilfield Svcs/Equip. 548 8.14% 4.74% 8.47% 28.48% 1.25 1.67 14.70% 56.47% 5.10% 33.70% 10.95% 2.03 0.68 7.57 13.76 1.48 42.85 8.27% 4.48% 3.54% 38.53% 3.39% 103.70% 103.70%
Packaging & Container 403 6.07% 8.74% 11.23% 27.69% 0.61 0.78 8.08% 39.69% 4.60% 29.23% 6.66% 1.59 1.43 10.00 15.96 2.52 33.94 14.11% 5.28% 7.63% 118.78% 12.13% 46.23% 46.23%
Paper/Forest Products 293 3.18% 7.07% 5.69% 24.89% 0.71 1.08 10.33% 45.91% 4.60% 41.54% 7.38% 0.93 1.32 9.33 17.71 1.48 43.80 18.25% 6.60% 4.48% 86.43% 4.50% 76.08% 76.08%
Power 565 9.26% 13.88% 6.65% 24.90% 0.54 0.92 9.14% 36.21% 4.60% 49.55% 6.20% 0.58 2.01 8.34 14.39 1.28 24.06 2.41% 17.00% 12.97% 121.26% 8.87% 59.53% 59.53%
Precious Metals 947 19.59% 4.41% 2.18% 41.13% 1.11 1.42 12.87% 85.98% 7.60% 30.32% 10.58% 0.51 1.97 7.32 41.46 0.99 41.30 11.92% 23.01% 13.00% 1571.07% -7.75% 0.35% 0.35%
Publshing & Newspapers 364 -0.21% 7.66% 9.43% 15.44% 0.92 1.07 10.23% 47.63% 4.60% 21.73% 8.70% 1.46 1.72 11.13 20.48 2.16 53.22 8.89% 3.39% 3.07% 49.17% 7.65% 68.81% 68.81%
R.E.I.T. 493 10.11% 30.66% 3.32% 3.26% 0.43 0.76 7.95% 25.20% 4.60% 45.25% 5.81% 0.11 12.39 21.80 35.74 1.63 56.52 44.15% 7.31% 7.29% 26.68% 9.21% 82.31% 82.31%
Real Estate (Development) 731 14.91% 18.26% 7.15% 30.99% 0.78 1.18 11.05% 44.56% 4.60% 48.29% 7.27% 0.48 2.76 13.02 14.16 1.07 66.45 160.48% 3.38% 5.02% 204.09% 12.36% 59.75% 59.75%
Real Estate (General/Diversified) 428 10.98% 21.37% 5.00% 17.30% 0.76 1.14 10.79% 42.91% 4.60% 43.16% 7.52% 0.28 3.97 14.07 17.68 0.90 51.69 78.90% 7.69% 13.12% 93.46% 8.73% 30.68% 30.68%
Real Estate (Operations & Services) 586 8.70% 30.04% 4.99% 17.93% 0.56 0.91 9.07% 39.20% 4.60% 45.26% 6.42% 0.19 6.25 16.47 19.60 0.99 44.10 21.06% 7.80% 15.07% 70.44% 9.16% 29.21% 29.21%
Recreation 289 4.47% 11.09% 10.17% 29.01% 0.97 1.05 10.12% 44.71% 4.60% 18.50% 8.84% 1.12 2.17 11.89 18.86 2.86 59.46 17.37% 6.17% 6.71% 112.36% 9.88% 57.76% 57.76%
Reinsurance 38 11.55% 10.79% 11.77% 15.11% 1.02 1.10 10.45% 29.03% 4.60% 20.82% 8.95% 1.27 0.89 8.02 8.18 1.03 10.60 -48.41% 0.24% 0.78% 10.53% 10.74% 32.17% 32.17%
Restaurant/Dining 318 7.69% 10.58% 13.43% 30.74% 0.67 0.82 8.37% 38.87% 4.60% 24.81% 7.09% 1.61 2.31 12.10 21.56 5.45 33.97 -0.47% 5.35% 9.03% 122.65% 19.47% 55.03% 55.03%
Retail (Automotive) 157 8.39% 4.78% 10.09% 33.56% 0.74 1.01 9.80% 45.03% 4.60% 35.60% 7.46% 2.69 0.82 10.86 17.06 3.33 43.84 9.87% 2.63% 3.34% 121.96% 17.45% 81.92% 81.92%
Retail (Building Supply) 51 7.86% 8.91% 14.86% 34.28% 0.78 0.90 8.97% 38.25% 4.60% 18.95% 7.88% 2.19 1.57 11.79 17.60 6.30 20.47 7.16% 2.10% 1.23% 20.57% 23.76% 37.67% 37.67%
Retail (Distributors) 882 8.65% 3.57% 4.78% 28.65% 0.61 0.97 9.51% 47.14% 4.60% 48.25% 6.48% 1.64 0.75 11.78 20.00 1.33 107.71 15.33% 3.23% 3.00% 104.43% 6.60% 48.45% 48.45%
Retail (General) 221 5.23% 4.44% 8.74% 31.94% 0.87 1.14 10.76% 41.44% 4.60% 33.10% 8.27% 2.58 0.75 8.79 16.59 2.25 48.59 0.54% 3.18% 3.04% 107.75% 11.13% 48.33% 48.33%
Retail (Grocery and Food) 172 7.78% 3.11% 6.64% 29.77% 0.58 0.79 8.16% 36.91% 4.60% 38.13% 6.28% 2.87 0.63 8.38 20.20 2.07 39.46 -2.35% 3.08% 2.70% 113.34% 3.06% 150.70% 150.70%
Retail (Online) 130 21.27% 4.55% 17.91% 29.68% 1.39 1.43 12.94% 61.79% 5.10% 8.40% 12.15% 4.58 3.26 33.14 73.08 10.60 80.65 1.10% 3.74% 6.17% 230.74% 12.64% 6.97% 6.97%
Retail (Special Lines) 549 4.67% 6.65% 12.27% 32.06% 0.84 1.00 9.71% 44.06% 4.60% 25.11% 8.08% 2.38 1.19 9.67 17.66 3.35 37.34 9.23% 2.36% 3.76% 97.77% 15.65% 32.54% 32.54%
Rubber& Tires 88 2.90% 10.87% 11.68% 28.66% 0.93 1.11 10.56% 39.38% 4.60% 26.57% 8.61% 1.29 1.06 5.93 9.11 1.64 25.39 20.55% 4.85% 5.01% 59.44% 15.36% 27.56% 27.56%
Semiconductor 552 2.26% 18.08% 12.55% 16.56% 1.48 1.51 13.55% 48.81% 4.60% 12.23% 12.28% 0.78 2.72 8.78 15.08 2.71 76.14 18.05% 12.29% 13.72% 102.87% 15.73% 38.98% 38.98%
Semiconductor Equip 262 5.27% 12.63% 9.88% 16.96% 1.45 1.55 13.84% 52.35% 5.10% 19.32% 11.86% 0.89 2.23 11.43 17.13 2.31 54.41 29.08% 9.18% 12.55% 156.90% 9.25% 37.57% 37.57%
Shipbuilding & Marine 337 3.08% 8.00% 4.69% 18.16% 0.78 1.21 11.27% 44.85% 4.60% 45.20% 7.63% 0.67 1.70 8.81 20.75 1.09 33.20 1.35% 11.27% 9.06% 139.17% 5.25% 64.11% 64.11%
Shoe 88 7.76% 10.41% 14.98% 21.80% 0.94 0.96 9.40% 50.35% 5.10% 8.96% 8.88% 1.80 2.06 13.57 19.00 3.79 31.11 20.60% 1.84% 1.72% 32.32% 17.28% 43.36% 43.36%
Software (Entertainment) 118 1.83% 15.37% 13.30% 24.33% 1.59 1.44 13.00% 62.52% 5.10% 6.40% 12.40% 0.97 3.58 15.83 20.69 2.84 29.45 17.25% 3.24% 3.67% 19.67% 9.80% 20.11% 20.11%
Software (Internet) 762 11.63% 20.98% 15.17% 22.63% 1.34 1.34 12.26% 65.10% 5.60% 4.43% 11.89% 0.79 6.98 23.33 35.84 5.01 66.17 8.44% 10.32% 16.07% 122.04% 11.22% 6.65% 6.65%
Software (System & Application) 986 10.91% 22.17% 18.63% 27.23% 1.19 1.24 11.53% 60.42% 5.10% 9.59% 10.77% 0.95 5.15 16.99 22.58 5.12 108.49 12.70% 4.62% 10.87% 74.58% 11.84% 52.12% 52.12%
Steel 732 2.65% 2.59% 2.28% 31.26% 0.72 1.26 11.69% 50.47% 5.10% 51.62% 7.50% 1.00 0.82 7.69 28.79 0.81 99.27 12.80% 5.84% 3.99% 157.54% -3.18% 0.95% 0.95%
Telecom (Wireless) 110 5.56% 13.23% 8.54% 33.27% 0.85 1.16 10.93% 39.51% 4.60% 35.08% 8.23% 0.77 2.03 6.30 15.22 1.69 77.40 -8.65% 20.11% 10.79% 128.62% 6.96% 89.60% 89.60%
Telecom. Equipment 478 3.66% 12.96% 11.13% 22.80% 1.22 1.30 11.92% 55.35% 5.10% 15.06% 10.66% 0.97 2.28 12.06 16.32 2.74 227.74 20.22% 3.83% 7.57% 88.66% 10.42% 52.18% 52.18%
Telecom. Services 292 3.49% 13.43% 10.81% 26.75% 0.64 0.96 9.42% 44.62% 4.60% 39.10% 7.00% 0.94 2.16 6.92 15.87 2.01 41.37 -1.32% 13.07% 2.69% 35.05% 10.64% 79.94% 79.94%
Tobacco 61 5.81% 27.15% 44.53% 30.06% 0.81 0.90 9.01% 39.76% 4.60% 15.02% 8.14% 1.95 4.41 14.47 16.19 10.61 18.21 10.42% 3.10% 15.48% 79.38% 61.71% 66.94% 66.94%
Transportation 222 12.69% 8.23% 10.15% 27.79% 0.89 1.15 10.84% 43.92% 4.60% 33.29% 8.30% 1.55 1.32 9.55 15.90 2.30 32.34 3.48% 4.72% 3.56% 69.08% 12.31% 57.10% 57.10%
Transportation (Railroads) 54 4.76% 23.23% 9.58% 32.52% 0.79 1.00 9.76% 29.91% 4.60% 28.14% 7.92% 0.54 3.09 9.24 13.31 2.24 29.35 -0.41% 17.71% 13.42% 87.00% 13.64% 33.40% 33.40%
Trucking 193 4.35% 7.91% 9.46% 30.66% 0.65 0.98 9.57% 39.61% 4.60% 44.21% 6.76% 1.55 1.21 7.93 15.19 2.10 24.18 8.71% 10.38% 8.83% 162.74% 11.37% 26.38% 26.38%
Unclassified 48 10.90% 66.23% 3.85% 0.77% 0.61 0.62 6.90% 26.39% 4.60% 6.66% 6.65% 0.06 14.32 16.70 7.16 0.92 307.02 67.22% 1.16% 0.46% 1.42% 3.40% 60.55% 60.55%
Utility (General) 57 1.04% 10.19% 7.03% 31.09% 0.51 0.84 8.50% 29.21% 4.60% 47.81% 5.97% 0.89 1.48 8.33 14.47 1.43 34.56 0.12% 12.00% 6.58% 80.39% 3.00% 201.63% 201.63%
Utility (Water) 96 12.52% 25.70% 7.13% 21.67% 0.71 0.95 9.33% 42.87% 4.60% 33.06% 7.31% 0.33 5.36 14.09 20.68 2.25 49.63 7.17% 21.04% 16.48% 96.67% 9.55% 59.51% 59.51%
Industry Name Number of firms Annual Average Revenue growth - Last 5 years Pre-tax Operating Margin After-tax ROC Average effective tax rate Unlevered Beta Equity (Levered) Beta Cost of equity Std deviation in stock prices Pre-tax cost of debt Market Debt/Capital Cost of capital Sales/Capital EV/Sales EV/EBITDA EV/EBIT Price/Book Trailing PE Non-cash WC as % of Revenues Cap Ex as % of Revenues Net Cap Ex as % of Revenues Reinvestment Rate ROE Dividend Payout Ratio Equity Reinvestment Rate
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