+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

2017 Valuation Handbook - International Industry Cost of Capital. Wiley Finance

  • ID: 4328014
  • Book
  • Region: Global
  • 1008 Pages
  • John Wiley and Sons Ltd
1 of 4

The annual standard source for real–world cost of capital data from across industries and around the globe

Properly estimating the cost of capital requires matching the risks associated with the expected net cash flows with the appropriate discount rate. The 2017 Valuation Handbook – International Industry Cost of Capital is the definitive source of accurate, reliable, and timely industry–level cost of capital data in a global setting.

The 2017 Valuation Handbook – International Industry Cost of Capital is the fully updated annual reference that provides the industry–level data needed to develop cost of capital estimates on a global scale, and allows you to benchmark your cost of capital estimate for your subject company to the cost of capital of companies in the same industry and economic region, on a consistent currency basis.

Part of the Duff & Phelps series of annual valuation resources, this publication provides the critical data and guidance financial professionals need when analyzing specific industries globally.

Note: Product cover images may vary from those shown
2 of 4

Acknowledgements xiii

Introduction 1

Who Should Use the Valuation Handbook – International Industry Cost of Capital 2

Industry–level Cost of Capital Estimates 3

Industry–level Statistics, Capital Structure, Valuation Multiples, and Betas 4

New in the 2017 Valuation Handbook – International Industry Cost of Capital 4

Methodology 5

“Data Through” Date 5

Countries of Incorporation 5

Company Type 5

Currencies Used 5

Global Areas Covered 6

Industry Identification by GICS Code 9

Minimum Number of Companies Required 10

Data Sources 10

Derivation of Long–term Risk–free Rates and Long–term Equity Risk Premia 13

Company Screening Process 16

Identifying Initial Company Sets 17

Additional Company Screening 18

Medians and Industry Composites 23

“Latest” and “5–Year” Averages 26

Calculation of Industry Financial Statistics 31

GICS Code and Number of Companies in the Main Set 31

Global Area and Currency 31

Graph – Relative 5–Year Performance 31

Three Largest and Three Smallest Companies by Sales and Total Assets 31

Annualized Monthly Performance Statistics 31

Number of Companies in the Median, the Composites, and the High–Financial–Risk Category 33

Return Ratios 34

Liquidity Ratio 38

Profitability Ratio 39

Graph – Operating Margin 39

Beta Overview 40

Levered Betas 41

Adjusted Betas 45

Graph – Betas (Levered ) 47

Unlevered Betas 48

Leverage Ratios 49

Graph – Capital Structure, GICS Composite 53

Derivation of Long–term Growth Rates 53

Equity Valuation Multiples 54

Enterprise Valuation (EV) Multiples 61

Graph – Enterprise Valuation Multiples 66

Long–term Risk–free Rates and Long–term Equity Risk Premia 66

Cost of Capital Estimates 68

CAPM 68

Discounted Cash Flow (DCF) Models 70

1–Stage DCF 70

3–Stage DCF 72

Cost of Debt 75

Weighted Average Cost of Capital (WACC) 78

WACC Calculations 82

WACC – Graph 83

Appendix A

Definitions of Standard & Poor’s Global Vantage Database Data Items Used in Calculations

Industry Data Exhibits

World Company Set

Industry Data Exhibit 1: World Company Set, in € EUR

Industry Data Exhibit 2: World Company Set, in £ GBP

Industry Data Exhibit 3: World Company Set, in $ USD

European Company Set

Industry Data Exhibit 4: European Union, in € EUR

Industry Data Exhibit 5: European Union, in £ GBP

Industry Data Exhibit 6: European Union, in $ USD

Eurozone Company Set

Industry Data Exhibit 7: Eurozone, in € EUR

Industry Data Exhibit 8: Eurozone, in £ GBP

Industry Data Exhibit 9: Eurozone, in $ USD

United Kingdom Company Set

Industry Data Exhibit 10: United Kingdom, in € EUR

Industry Data Exhibit 11: United Kingdom, in £ GBP

Industry Data Exhibit 12: United Kingdom, in $ USD

Note: Product cover images may vary from those shown
3 of 4

Loading
LOADING...

4 of 4
Roger J. Grabowski
Carla Nunes
James P. Harrington
Duff & Phelps
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
Order Online - visit: https://www.researchandmarkets.com/reports/4328014
Adroll
adroll