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Date updated: 5-Jan-17

Created by: Aswath Damodaran, adamodar@stern.nyu.edu


What is this data? Cost of equity and capital (updateable)
Home Page: http://www.damodaran.com
Data website: http://www.stern.nyu.edu/~adamodar/New_Home_
Companies in each industry: http://www.stern.nyu.edu/~adamodar/pc/datasets/
Variable definitions: http://www.stern.nyu.edu/~adamodar/New_Home_
To update this spreadsheet, enter the following
Long Term Treasury bond rate =
Risk Premium to Use for Equity =
Global Default Spread to add to cost of debt =
Do you want to use the marginal tax rate for cost of debt?
If yes, enter the marginal tax rate to use

These costs of capital are in US$. To convert to a different currency, please enter
Expected inflation rate in local currency =
Expected inflation rate in US $ =

Industry Name Number of Firms


Advertising 41
Aerospace/Defense 96
Air Transport 18
Apparel 58
Auto & Truck 15
Auto Parts 63
Bank (Money Center) 10
Banks (Regional) 645
Beverage (Alcoholic) 25
Beverage (Soft) 36
Broadcasting 30
Brokerage & Investment Banking 45
Building Materials 41
Business & Consumer Services 165
Cable TV 14
Chemical (Basic) 45
Chemical (Diversified) 8
Chemical (Specialty) 100
Coal & Related Energy 38
Computer Services 117
Computers/Peripherals 55
Construction Supplies 51
Diversified 24
Drugs (Biotechnology) 426
Drugs (Pharmaceutical) 164
Education 36
Electrical Equipment 119
Electronics (Consumer & Office) 24
Electronics (General) 164
Engineering/Construction 48
Entertainment 79
Environmental & Waste Services 89
Farming/Agriculture 37
Financial Svcs. (Non-bank & Insurance) 258
Food Processing 87
Food Wholesalers 16
Furn/Home Furnishings 30
Green & Renewable Energy 25
Healthcare Products 254
Healthcare Support Services 121
Heathcare Information and Technology 125
Homebuilding 33
Hospitals/Healthcare Facilities 38
Hotel/Gaming 69
Household Products 129
Information Services 64
Insurance (General) 19
Insurance (Life) 22
Insurance (Prop/Cas.) 50
Investments & Asset Management 156
Machinery 127
Metals & Mining 97
Office Equipment & Services 24
Oil/Gas (Integrated) 7
Oil/Gas (Production and Exploration) 330
Oil/Gas Distribution 78
Oilfield Svcs/Equip. 148
Packaging & Container 26
Paper/Forest Products 23
Power 68
Precious Metals 109
Publishing & Newspapers 37
R.E.I.T. 238
Real Estate (Development) 18
Real Estate (General/Diversified) 11
Real Estate (Operations & Services) 54
Recreation 66
Reinsurance 3
Restaurant/Dining 86
Retail (Automotive) 25
Retail (Building Supply) 6
Retail (Distributors) 88
Retail (General) 19
Retail (Grocery and Food) 14
Retail (Online) 57
Retail (Special Lines) 108
Rubber& Tires 4
Semiconductor 80
Semiconductor Equip 45
Shipbuilding & Marine 11
Shoe 10
Software (Entertainment) 13
Software (Internet) 297
Software (System & Application) 236
Steel 38
Telecom (Wireless) 17
Telecom. Equipment 107
Telecom. Services 67
Tobacco 22
Transportation 17
Transportation (Railroads) 7
Trucking 30
Utility (General) 18
Utility (Water) 22
Total Market 7330
Total Market (without financials) 6100
modaran, adamodar@stern.nyu.edu
uity and capital (updateable)
w.damodaran.com
w.stern.nyu.edu/~adamodar/New_Home_Page/data.html
w.stern.nyu.edu/~adamodar/pc/datasets/indname.xls
w.stern.nyu.edu/~adamodar/New_Home_Page/datafile/variable.htm

2.45%
5.69%
0.00%

6.00%
1.90%

Beta Cost of Equity


1.36 10.21%
1.07 8.56%
1.12 8.83%
0.88 7.46%
0.85 7.26%
1.12 8.84%
0.86 7.34%
0.47 5.14%
0.79 6.96%
0.91 7.64%
1.22 9.39%
1.08 8.58%
1.01 8.18%
1.07 8.54%
1.12 8.80%
1.00 8.15%
1.52 11.09%
1.20 9.27%
1.36 10.21%
0.99 8.06%
1.06 8.46%
1.31 9.93%
0.76 6.80%
1.40 10.43%
1.02 8.23%
1.23 9.42%
1.14 8.96%
1.08 8.61%
0.86 7.37%
1.18 9.17%
1.20 9.29%
0.85 7.30%
0.92 7.68%
0.65 6.17%
0.75 6.74%
1.20 9.30%
0.84 7.20%
1.14 8.94%
1.04 8.35%
0.94 7.79%
0.95 7.86%
1.08 8.58%
1.10 8.70%
0.96 7.92%
0.80 6.98%
0.98 8.03%
0.90 7.60%
1.03 8.34%
0.83 7.17%
0.90 7.55%
1.06 8.49%
1.30 9.87%
1.49 10.93%
1.08 8.60%
1.38 10.29%
1.20 9.25%
1.37 10.22%
0.84 7.22%
1.12 8.81%
0.54 5.55%
1.25 9.57%
1.32 9.96%
0.72 6.57%
0.68 6.34%
1.27 9.68%
0.99 8.09%
0.92 7.69%
0.75 6.70%
0.77 6.82%
0.91 7.65%
1.30 9.84%
1.10 8.74%
1.05 8.42%
0.69 6.38%
1.23 9.43%
1.02 8.27%
1.35 10.11%
1.20 9.25%
1.10 8.69%
1.20 9.29%
0.85 7.30%
0.98 8.03%
1.13 8.90%
1.13 8.86%
1.60 11.55%
1.12 8.80%
0.99 8.08%
1.04 8.38%
1.28 9.73%
1.01 8.22%
0.79 6.92%
1.21 9.31%
0.38 4.59%
0.65 6.14%
1.00 8.15%
1.08 8.59%
US companies

Cost of Debt Lookup Table (based on std dev in stock p


Standard Deviation
0 0.25
0.25 0.4
Yes 0.4 0.65
40% 0.65 0.75
0.75 0.9
0.9 1
1 10

E/(D+E) Std Dev in Stock Cost of Debt Tax Rate


61.36% 72.80% 4.05% 5.10%
80.95% 40.75% 3.70% 10.86%
58.78% 38.61% 3.50% 22.99%
74.51% 47.15% 3.70% 10.95%
39.93% 29.21% 3.50% 8.14%
73.95% 50.64% 3.70% 10.40%
34.72% 25.85% 3.50% 27.90%
62.30% 22.84% 3.05% 25.43%
77.51% 44.18% 3.70% 10.86%
80.31% 52.80% 3.70% 5.87%
51.04% 41.01% 3.70% 18.54%
30.10% 44.96% 3.70% 13.59%
78.75% 33.77% 3.50% 23.39%
74.02% 44.71% 3.70% 12.61%
67.01% 30.78% 3.50% 20.28%
63.05% 59.91% 3.70% 7.71%
73.79% 45.48% 3.70% 6.59%
76.94% 45.44% 3.70% 9.58%
41.92% 73.31% 4.05% 0.48%
77.92% 45.57% 3.70% 11.18%
83.61% 60.29% 3.70% 5.68%
70.14% 38.87% 3.50% 18.44%
73.54% 23.28% 3.05% 11.55%
83.72% 75.23% 5.20% 1.44%
87.28% 67.61% 4.05% 2.54%
74.97% 51.51% 3.70% 9.29%
83.93% 54.63% 3.70% 5.87%
83.76% 66.94% 4.05% 3.81%
84.84% 48.91% 3.70% 8.85%
75.50% 44.23% 3.70% 15.15%
76.44% 44.71% 3.70% 5.50%
71.95% 57.94% 3.70% 5.07%
62.49% 41.14% 3.70% 7.89%
8.17% 29.20% 3.50% 20.80%
78.84% 30.98% 3.50% 14.66%
73.35% 52.66% 3.70% 11.77%
77.51% 42.94% 3.70% 14.58%
36.45% 47.60% 3.70% 4.25%
84.78% 56.59% 3.70% 6.12%
75.66% 50.06% 3.70% 14.31%
82.85% 52.46% 3.70% 6.32%
60.14% 33.76% 3.50% 27.28%
36.93% 44.67% 3.70% 12.06%
64.40% 39.32% 3.50% 11.23%
82.51% 50.91% 3.70% 9.05%
83.02% 36.65% 3.50% 16.37%
71.97% 30.38% 3.50% 18.33%
58.34% 27.80% 3.50% 22.91%
76.27% 25.41% 3.50% 22.27%
61.89% 34.30% 3.50% 7.71%
82.17% 38.59% 3.50% 11.73%
65.80% 77.36% 5.20% 1.16%
64.80% 33.85% 3.50% 16.68%
85.54% 46.30% 3.70% 1.14%
68.03% 75.08% 5.20% 0.32%
56.48% 45.13% 3.70% 2.93%
75.38% 60.50% 3.70% 4.11%
64.09% 29.58% 3.50% 24.47%
66.96% 38.67% 3.50% 14.46%
53.39% 24.11% 3.05% 19.27%
80.58% 78.31% 5.20% 1.84%
63.72% 48.08% 3.70% 14.32%
55.72% 24.67% 3.05% 1.72%
62.30% 39.45% 3.50% 1.97%
80.43% 24.99% 3.05% 15.32%
56.60% 50.15% 3.70% 8.78%
76.27% 46.01% 3.70% 13.21%
75.54% 21.23% 3.05% 19.33%
74.07% 39.10% 3.50% 16.47%
62.54% 28.30% 3.50% 22.58%
82.06% 39.62% 3.50% 20.11%
63.71% 40.48% 3.70% 16.95%
71.65% 40.00% 3.70% 22.22%
59.93% 35.13% 3.50% 24.11%
91.22% 48.86% 3.70% 8.46%
65.73% 42.19% 3.70% 21.29%
58.02% 63.88% 3.70% 10.09%
87.65% 42.08% 3.70% 7.71%
85.95% 38.24% 3.50% 11.13%
67.38% 73.54% 4.05% 7.30%
90.70% 37.21% 3.50% 14.47%
87.15% 48.14% 3.70% 1.04%
95.91% 55.85% 3.70% 3.49%
82.30% 47.40% 3.70% 5.67%
67.60% 54.19% 3.70% 7.94%
46.60% 37.67% 3.50% 9.11%
80.29% 49.24% 3.70% 6.14%
60.28% 47.21% 3.70% 13.36%
85.34% 61.73% 3.70% 8.84%
75.77% 32.72% 3.50% 17.46%
78.16% 27.05% 3.50% 22.17%
52.41% 42.01% 3.70% 26.74%
59.39% 19.32% 3.05% 25.62%
69.70% 27.03% 3.50% 11.97%
59.56% 45.04% 3.70% 10.44%
73.69% 48.81% 3.70% 8.31%
based on std dev in stock prices)
Basis Spread
0.60%
1.05%
1.25%
1.60%
2.75%
3.75%
4.50%

After-tax Cost of Debt D/(D+E) Cost of Capital Cost of Capital (Local Currency)
2.43% 38.64% 7.20% 11.51%
2.22% 19.05% 7.36% 11.68%
2.10% 41.22% 6.06% 10.33%
2.22% 25.49% 6.12% 10.39%
2.10% 60.07% 4.16% 8.35%
2.22% 26.05% 7.11% 11.42%
2.10% 65.28% 3.92% 8.10%
1.83% 37.70% 3.89% 8.07%
2.22% 22.49% 5.89% 10.16%
2.22% 19.69% 6.57% 10.86%
2.22% 48.96% 5.88% 10.14%
2.22% 69.90% 4.13% 8.32%
2.10% 21.25% 6.89% 11.19%
2.22% 25.98% 6.90% 11.20%
2.10% 32.99% 6.59% 10.88%
2.22% 36.95% 5.96% 10.23%
2.22% 26.21% 8.77% 13.14%
2.22% 23.06% 7.64% 11.97%
2.43% 58.08% 5.69% 9.94%
2.22% 22.08% 6.77% 11.06%
2.22% 16.39% 7.43% 11.76%
2.10% 29.86% 7.59% 11.92%
1.83% 26.46% 5.49% 9.73%
3.12% 16.28% 9.24% 13.64%
2.43% 12.72% 7.49% 11.81%
2.22% 25.03% 7.62% 11.95%
2.22% 16.07% 7.87% 12.21%
2.43% 16.24% 7.61% 11.94%
2.22% 15.16% 6.59% 10.88%
2.22% 24.50% 7.47% 11.79%
2.22% 23.56% 7.63% 11.96%
2.22% 28.05% 5.87% 10.13%
2.22% 37.51% 5.63% 9.88%
2.10% 91.83% 2.43% 6.55%
2.10% 21.16% 5.76% 10.01%
2.22% 26.65% 7.41% 11.73%
2.22% 22.49% 6.08% 10.35%
2.22% 63.55% 4.67% 8.88%
2.22% 15.22% 7.41% 11.74%
2.22% 24.34% 6.44% 10.72%
2.22% 17.15% 6.89% 11.19%
2.10% 39.86% 6.00% 10.26%
2.22% 63.07% 4.61% 8.82%
2.10% 35.60% 5.85% 10.11%
2.22% 17.49% 6.15% 10.42%
2.10% 16.98% 7.03% 11.33%
2.10% 28.03% 6.06% 10.32%
2.10% 41.66% 5.74% 9.99%
2.10% 23.73% 5.97% 10.23%
2.10% 38.11% 5.47% 9.72%
2.10% 17.83% 7.35% 11.67%
3.12% 34.20% 7.56% 11.89%
2.10% 35.20% 7.82% 12.16%
2.22% 14.46% 7.68% 12.01%
3.12% 31.97% 8.00% 12.34%
2.22% 43.52% 6.19% 10.46%
2.22% 24.62% 8.25% 12.61%
2.10% 35.91% 5.38% 9.62%
2.10% 33.04% 6.60% 10.88%
1.83% 46.61% 3.81% 7.99%
3.12% 19.42% 8.32% 12.67%
2.22% 36.28% 7.15% 11.46%
1.83% 44.28% 4.47% 8.68%
2.10% 37.70% 4.74% 8.96%
1.83% 19.57% 8.14% 12.50%
2.22% 43.40% 5.54% 9.79%
2.22% 23.73% 6.39% 10.67%
1.83% 24.46% 5.51% 9.76%
2.10% 25.93% 5.60% 9.85%
2.10% 37.46% 5.57% 9.82%
2.10% 17.94% 8.45% 12.81%
2.22% 36.29% 6.37% 10.65%
2.22% 28.35% 6.66% 10.95%
2.10% 40.07% 4.66% 8.87%
2.22% 8.78% 8.80% 13.18%
2.22% 34.27% 6.20% 10.47%
2.22% 41.98% 6.80% 11.09%
2.22% 12.35% 8.38% 12.74%
2.10% 14.05% 7.77% 12.10%
2.43% 32.62% 7.05% 11.36%
2.10% 9.30% 6.81% 11.11%
2.22% 12.85% 7.28% 11.60%
2.22% 4.09% 8.63% 13.00%
2.22% 17.70% 7.68% 12.01%
2.22% 32.40% 8.53% 12.90%
2.10% 53.40% 5.22% 9.46%
2.22% 19.71% 6.92% 11.22%
2.22% 39.72% 5.93% 10.20%
2.22% 14.66% 8.63% 13.00%
2.10% 24.23% 6.74% 11.03%
2.10% 21.84% 5.87% 10.13%
2.22% 47.59% 5.93% 10.20%
1.83% 40.61% 3.47% 7.63%
2.10% 30.30% 4.92% 9.14%
2.22% 40.44% 5.75% 10.00%
2.22% 26.31% 6.92% 11.22%
al (Local Currency)