Cost
of Capital by Sector (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2020
Download as an excel file instead: http://www.stern.nyu.edu/~adamodar/pc/datasets/wacc.xls
For global datasets: http://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
can be obtained by clicking here
on
which companies are included in each industry
| Industry Name | Number of Firms | Beta | Cost of Equity | E/(D+E) | Std Dev in Stock | Cost of Debt | Tax Rate | After-tax Cost of Debt | D/(D+E) | Cost of Capital |
| Advertising | 47 | 1.44 | 9.41% | 54.03% | 62.38% | 3.67% | 4.13% | 2.75% | 45.97% | 6.35% |
| Aerospace/Defense | 77 | 1.23 | 8.32% | 80.46% | 38.74% | 3.27% | 8.54% | 2.45% | 19.54% | 7.18% |
| Air Transport | 18 | 1.44 | 9.38% | 49.16% | 31.74% | 3.27% | 18.47% | 2.45% | 50.84% | 5.86% |
| Apparel | 51 | 1.06 | 7.41% | 70.54% | 51.10% | 3.67% | 11.11% | 2.75% | 29.46% | 6.04% |
| Auto & Truck | 13 | 1.10 | 7.61% | 37.75% | 35.02% | 3.27% | 5.93% | 2.45% | 62.25% | 4.40% |
| Auto Parts | 46 | 1.21 | 8.22% | 66.28% | 50.43% | 3.67% | 7.25% | 2.75% | 33.72% | 6.37% |
| Bank (Money Center) | 7 | 1.00 | 7.12% | 36.00% | 17.74% | 2.72% | 19.36% | 2.04% | 64.00% | 3.87% |
| Banks (Regional) | 611 | 0.57 | 4.87% | 61.38% | 18.26% | 2.72% | 17.46% | 2.04% | 38.62% | 3.78% |
| Beverage (Alcoholic) | 21 | 1.13 | 7.78% | 76.17% | 42.46% | 3.67% | 6.62% | 2.75% | 23.83% | 6.58% |
| Beverage (Soft) | 34 | 1.22 | 8.26% | 83.87% | 57.08% | 3.67% | 4.00% | 2.75% | 16.13% | 7.37% |
| Broadcasting | 27 | 1.21 | 8.23% | 50.39% | 32.65% | 3.27% | 13.31% | 2.45% | 49.61% | 5.36% |
| Brokerage & Investment Banking | 39 | 1.46 | 9.52% | 27.15% | 27.36% | 3.27% | 12.83% | 2.45% | 72.85% | 4.37% |
| Building Materials | 42 | 1.23 | 8.32% | 75.72% | 30.78% | 3.27% | 16.26% | 2.45% | 24.28% | 6.90% |
| Business & Consumer Services | 165 | 1.07 | 7.46% | 76.74% | 43.80% | 3.67% | 8.32% | 2.75% | 23.26% | 6.37% |
| Cable TV | 14 | 1.11 | 7.72% | 62.43% | 25.03% | 3.27% | 14.55% | 2.45% | 37.57% | 5.74% |
| Chemical (Basic) | 43 | 1.37 | 9.03% | 62.08% | 51.96% | 3.67% | 6.66% | 2.75% | 37.92% | 6.65% |
| Chemical (Diversified) | 6 | 1.85 | 11.55% | 55.97% | 35.92% | 3.27% | 11.89% | 2.45% | 44.03% | 7.55% |
| Chemical (Specialty) | 94 | 1.14 | 7.82% | 77.81% | 48.36% | 3.67% | 11.01% | 2.75% | 22.19% | 6.70% |
| Coal & Related Energy | 22 | 1.40 | 9.18% | 55.65% | 54.71% | 3.67% | 0.97% | 2.75% | 44.35% | 6.33% |
| Computer Services | 106 | 1.20 | 8.18% | 69.13% | 45.52% | 3.67% | 8.92% | 2.75% | 30.87% | 6.50% |
| Computers/Peripherals | 48 | 1.75 | 11.01% | 86.59% | 50.41% | 3.67% | 6.21% | 2.75% | 13.41% | 9.90% |
| Construction Supplies | 44 | 1.36 | 9.01% | 71.36% | 29.91% | 3.27% | 15.82% | 2.45% | 28.64% | 7.13% |
| Diversified | 23 | 1.40 | 9.21% | 76.24% | 38.16% | 3.27% | 6.68% | 2.45% | 23.76% | 7.60% |
| Drugs (Biotechnology) | 503 | 1.43 | 9.37% | 87.27% | 67.45% | 4.42% | 0.61% | 3.32% | 12.73% | 8.60% |
| Drugs (Pharmaceutical) | 267 | 1.36 | 9.00% | 87.01% | 77.14% | 6.92% | 1.36% | 5.19% | 12.99% | 8.51% |
| Education | 35 | 1.61 | 10.27% | 74.81% | 37.64% | 3.27% | 6.56% | 2.45% | 25.19% | 8.30% |
| Electrical Equipment | 113 | 1.44 | 9.43% | 82.65% | 53.67% | 3.67% | 3.94% | 2.75% | 17.35% | 8.27% |
| Electronics (Consumer & Office) | 20 | 1.28 | 8.55% | 82.87% | 62.17% | 3.67% | 5.45% | 2.75% | 17.13% | 7.56% |
| Electronics (General) | 153 | 1.15 | 7.90% | 84.58% | 42.78% | 3.67% | 6.65% | 2.75% | 15.42% | 7.11% |
| Engineering/Construction | 54 | 1.60 | 10.23% | 71.80% | 33.19% | 3.27% | 9.44% | 2.45% | 28.20% | 8.03% |
| Entertainment | 107 | 1.33 | 8.85% | 83.29% | 55.57% | 3.67% | 1.93% | 2.75% | 16.71% | 7.83% |
| Environmental & Waste Services | 82 | 1.27 | 8.52% | 75.94% | 44.34% | 3.67% | 4.14% | 2.75% | 24.06% | 7.13% |
| Farming/Agriculture | 31 | 0.89 | 6.57% | 61.58% | 46.88% | 3.67% | 5.91% | 2.75% | 38.42% | 5.10% |
| Financial Svcs. (Non-bank & Insurance) | 232 | 0.73 | 5.73% | 10.18% | 25.70% | 3.27% | 14.42% | 2.45% | 89.82% | 2.79% |
| Food Processing | 88 | 0.88 | 6.47% | 72.79% | 31.53% | 3.27% | 6.44% | 2.45% | 27.21% | 5.38% |
| Food Wholesalers | 17 | 0.87 | 6.43% | 69.47% | 31.58% | 3.27% | 7.79% | 2.45% | 30.53% | 5.22% |
| Furn/Home Furnishings | 35 | 1.08 | 7.52% | 67.41% | 43.38% | 3.67% | 8.15% | 2.75% | 32.59% | 5.97% |
| Green & Renewable Energy | 22 | 1.07 | 7.50% | 47.03% | 53.76% | 3.67% | 1.52% | 2.75% | 52.97% | 4.98% |
| Healthcare Products | 242 | 1.04 | 7.34% | 88.30% | 53.09% | 3.67% | 3.52% | 2.75% | 11.70% | 6.81% |
| Healthcare Support Services | 128 | 1.17 | 8.01% | 71.48% | 49.95% | 3.67% | 8.26% | 2.75% | 28.52% | 6.51% |
| Heathcare Information and Technology | 129 | 1.24 | 8.39% | 87.21% | 53.86% | 3.67% | 3.84% | 2.75% | 12.79% | 7.67% |
| Homebuilding | 32 | 0.83 | 6.22% | 69.35% | 36.55% | 3.27% | 17.02% | 2.45% | 30.65% | 5.07% |
| Hospitals/Healthcare Facilities | 36 | 1.22 | 8.27% | 43.44% | 42.63% | 3.67% | 7.50% | 2.75% | 56.56% | 5.15% |
| Hotel/Gaming | 65 | 1.26 | 8.48% | 63.93% | 34.10% | 3.27% | 12.52% | 2.45% | 36.07% | 6.31% |
| Household Products | 127 | 1.03 | 7.28% | 85.34% | 50.91% | 3.67% | 5.93% | 2.75% | 14.66% | 6.61% |
| Information Services | 69 | 1.09 | 7.60% | 89.38% | 37.80% | 3.27% | 8.34% | 2.45% | 10.62% | 7.06% |
| Insurance (General) | 19 | 0.74 | 5.78% | 70.71% | 31.00% | 3.27% | 16.10% | 2.45% | 29.29% | 4.81% |
| Insurance (Life) | 24 | 1.08 | 7.52% | 50.63% | 25.13% | 3.27% | 14.78% | 2.45% | 49.37% | 5.02% |
| Insurance (Prop/Cas.) | 51 | 0.68 | 5.45% | 79.14% | 21.71% | 2.72% | 14.03% | 2.04% | 20.86% | 4.74% |
| Investments & Asset Management | 192 | 1.03 | 7.26% | 64.76% | 27.88% | 3.27% | 7.47% | 2.45% | 35.24% | 5.57% |
| Machinery | 120 | 1.25 | 8.40% | 80.74% | 35.39% | 3.27% | 12.32% | 2.45% | 19.26% | 7.26% |
| Metals & Mining | 92 | 1.31 | 8.73% | 72.35% | 73.25% | 4.42% | 1.96% | 3.32% | 27.65% | 7.24% |
| Office Equipment & Services | 22 | 1.65 | 10.48% | 64.57% | 31.28% | 3.27% | 15.29% | 2.45% | 35.43% | 7.63% |
| Oil/Gas (Integrated) | 4 | 1.30 | 8.68% | 78.85% | 28.62% | 3.27% | 24.54% | 2.45% | 21.15% | 7.37% |
| Oil/Gas (Production and Exploration) | 269 | 1.48 | 9.61% | 63.94% | 59.37% | 3.67% | 3.70% | 2.75% | 36.06% | 7.14% |
| Oil/Gas Distribution | 24 | 1.02 | 7.20% | 52.72% | 32.66% | 3.27% | 5.46% | 2.45% | 47.28% | 4.96% |
| Oilfield Svcs/Equip. | 136 | 1.58 | 10.13% | 67.27% | 53.50% | 3.67% | 5.06% | 2.75% | 32.73% | 7.72% |
| Packaging & Container | 24 | 0.99 | 7.07% | 60.26% | 33.14% | 3.27% | 12.18% | 2.45% | 39.74% | 5.24% |
| Paper/Forest Products | 15 | 1.54 | 9.91% | 71.71% | 37.37% | 3.27% | 10.41% | 2.45% | 28.29% | 7.80% |
| Power | 52 | 0.58 | 4.91% | 57.97% | 18.49% | 2.72% | 13.27% | 2.04% | 42.03% | 3.71% |
| Precious Metals | 83 | 1.44 | 9.38% | 84.48% | 82.64% | 6.92% | 1.75% | 5.19% | 15.52% | 8.73% |
| Publishing & Newspapers | 31 | 1.07 | 7.47% | 59.68% | 38.18% | 3.27% | 8.10% | 2.45% | 40.32% | 5.45% |
| R.E.I.T. | 234 | 0.68 | 5.48% | 54.24% | 19.86% | 2.72% | 1.92% | 2.04% | 45.76% | 3.90% |
| Real Estate (Development) | 20 | 1.24 | 8.35% | 58.82% | 47.22% | 3.67% | 2.19% | 2.75% | 41.18% | 6.04% |
| Real Estate (General/Diversified) | 12 | 1.63 | 10.41% | 68.76% | 21.35% | 2.72% | 6.55% | 2.04% | 31.24% | 7.80% |
| Real Estate (Operations & Services) | 57 | 0.93 | 6.77% | 62.97% | 39.15% | 3.27% | 5.58% | 2.45% | 37.03% | 5.17% |
| Recreation | 63 | 0.90 | 6.61% | 74.80% | 47.53% | 3.67% | 8.21% | 2.75% | 25.20% | 5.64% |
| Reinsurance | 2 | 0.82 | 6.18% | 77.51% | 14.87% | 2.72% | 17.55% | 2.04% | 22.49% | 5.25% |
| Restaurant/Dining | 77 | 0.97 | 6.98% | 70.59% | 38.76% | 3.27% | 6.57% | 2.45% | 29.41% | 5.65% |
| Retail (Automotive) | 26 | 1.33 | 8.85% | 57.85% | 37.37% | 3.27% | 14.04% | 2.45% | 42.15% | 6.15% |
| Retail (Building Supply) | 17 | 1.36 | 8.99% | 79.55% | 47.29% | 3.67% | 14.90% | 2.75% | 20.45% | 7.71% |
| Retail (Distributors) | 80 | 1.28 | 8.57% | 62.17% | 42.83% | 3.67% | 11.96% | 2.75% | 37.83% | 6.37% |
| Retail (General) | 18 | 1.14 | 7.87% | 75.70% | 40.40% | 3.67% | 15.49% | 2.75% | 24.30% | 6.62% |
| Retail (Grocery and Food) | 13 | 0.59 | 4.98% | 50.85% | 37.18% | 3.27% | 12.78% | 2.45% | 49.15% | 3.74% |
| Retail (Online) | 70 | 1.23 | 8.32% | 88.60% | 55.97% | 3.67% | 2.92% | 2.75% | 11.40% | 7.68% |
| Retail (Special Lines) | 89 | 1.03 | 7.28% | 58.63% | 44.95% | 3.67% | 11.89% | 2.75% | 41.37% | 5.41% |
| Rubber& Tires | 4 | 0.98 | 7.03% | 35.97% | 57.59% | 3.67% | 20.75% | 2.75% | 64.03% | 4.29% |
| Semiconductor | 72 | 1.29 | 8.61% | 89.45% | 43.69% | 3.67% | 6.15% | 2.75% | 10.55% | 7.99% |
| Semiconductor Equip | 39 | 1.28 | 8.57% | 89.15% | 41.06% | 3.67% | 9.71% | 2.75% | 10.85% | 7.94% |
| Shipbuilding & Marine | 10 | 2.17 | 13.22% | 64.22% | 34.05% | 3.27% | 4.89% | 2.45% | 35.78% | 9.37% |
| Shoe | 11 | 0.87 | 6.43% | 91.91% | 37.56% | 3.27% | 13.98% | 2.45% | 8.09% | 6.11% |
| Software (Entertainment) | 86 | 1.29 | 8.62% | 96.34% | 61.37% | 3.67% | 2.58% | 2.75% | 3.66% | 8.40% |
| Software (Internet) | 30 | 1.67 | 10.62% | 83.05% | 44.78% | 3.67% | 1.23% | 2.75% | 16.95% | 9.29% |
| Software (System & Application) | 363 | 1.20 | 8.14% | 91.18% | 49.50% | 3.67% | 2.60% | 2.75% | 8.82% | 7.67% |
| Steel | 32 | 1.62 | 10.34% | 68.04% | 39.39% | 3.27% | 9.25% | 2.45% | 31.96% | 7.82% |
| Telecom (Wireless) | 18 | 1.14 | 7.86% | 43.25% | 41.85% | 3.67% | 5.89% | 2.75% | 56.75% | 4.96% |
| Telecom. Equipment | 91 | 0.89 | 6.57% | 85.31% | 46.30% | 3.67% | 4.31% | 2.75% | 14.69% | 6.01% |
| Telecom. Services | 67 | 1.05 | 7.37% | 55.81% | 54.47% | 3.67% | 4.17% | 2.75% | 44.19% | 5.33% |
| Tobacco | 17 | 1.68 | 10.66% | 77.79% | 38.49% | 3.27% | 11.48% | 2.45% | 22.21% | 8.83% |
| Transportation | 18 | 1.31 | 8.71% | 64.84% | 27.99% | 3.27% | 12.76% | 2.45% | 35.16% | 6.51% |
| Transportation (Railroads) | 8 | 2.24 | 13.57% | 79.22% | 18.25% | 2.72% | 12.24% | 2.04% | 20.78% | 11.17% |
| Trucking | 33 | 1.37 | 9.06% | 63.34% | 41.85% | 3.67% | 16.73% | 2.75% | 36.66% | 6.74% |
| Utility (General) | 16 | 0.28 | 3.40% | 59.90% | 13.11% | 2.72% | 13.45% | 2.04% | 40.10% | 2.85% |
| Utility (Water) | 17 | 0.68 | 5.48% | 73.66% | 17.88% | 2.72% | 10.01% | 2.04% | 26.34% | 4.57% |
| Total Market | 7053 | 1.13 | 7.79% | 63.29% | 42.36% | 3.67% | 7.32% | 2.75% | 36.71% | 5.94% |
| Total Market (without financials) | 5878 | 1.21 | 8.21% | 75.99% | 46.41% | 3.67% | 5.81% | 2.75% | 24.01% | 6.90% |