300463.SZ WACC - Weighted Average Cost of Capital
The WACC of Maccura Biotechnology Co Ltd (300463.SZ) is 7.7%.
| Range | Selected | |
| Cost of equity | 6.5% - 9.5% | 8% |
| Tax rate | 8.6% - 12.8% | 10.7% |
| Cost of debt | 5.0% - 5.0% | 5% |
| WACC | 6.4% - 9.1% | 7.7% |
| Category | Low | High |
| Long-term bond rate | 2.7% | 3.2% |
| Equity market risk premium | 6.1% | 7.1% |
| Adjusted beta | 0.63 | 0.82 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 6.5% | 9.5% |
| Tax rate | 8.6% | 12.8% |
| Debt/Equity ratio | 0.1 | 0.1 |
| Cost of debt | 5.0% | 5.0% |
| After-tax WACC | 6.4% | 9.1% |
| Selected WACC | 7.7% | |
| Debt/Equity | Unlevered | |||
| Peers | Company Name | ratio | Beta | beta |
| 300463.SZ | Maccura Biotechnology Co Ltd | 0.1 | 1.35 | 1.24 |
| 087010.KQ | Peptron Inc | 0 | -0.19 | -0.19 |
| 114450.KQ | KPX Lifescience Co Ltd | 0.17 | 0.45 | 0.39 |
| 206650.KQ | EuBiologics Co Ltd | 0.03 | 0.2 | 0.2 |
| 2269.HK | WuXi Biologics (Cayman) Inc | 0.06 | 2 | 1.9 |
| 300030.SZ | Guangzhou Improve Medical Instruments Co Ltd | 0.18 | 0.77 | 0.66 |
| 526853.BO | Bilcare Ltd | 4.08 | 1.46 | 0.32 |
| 603108.SS | Shanghai Runda Medical Technology Co Ltd | 0.65 | 1.58 | 1 |
| 6118.HK | Austar Lifesciences Ltd | 1.15 | 0.85 | 0.42 |
| 688068.SS | Beijing Hotgen Biotech Co Ltd | 0 | 0.7 | 0.7 |
| Low | High | |
| Unlevered beta | 0.41 | 0.67 |
| Relevered beta | 0.45 | 0.73 |
| Adjusted relevered beta | 0.63 | 0.82 |
300463.SZ's CAPM model and how its cost of Equity is calculated
The Cost of Equity reflects the return a company needs to deliver to shareholders to justify the risk of investing in its shares. It’s computed using the Capital Asset Pricing Model (CAPM), which blends the risk-free rate, the stock’s beta, and the market risk premium.
This method evaluates the stock’s risk compared to a safe investment and the market’s overall volatility.
Here’s how we figure out the cost of equity for 300463.SZ:
cost_of_equity (8.00%) = risk_free_rate (2.95%) + equity_risk_premium (6.60%) * adjusted_beta (0.63) + risk_adjustments (0.25%)
We include the risk adjustments, which range from 0% to 1%, to keep our WACC conservatives, especially for companies traded in developing markets.