8613.T WACC - Weighted Average Cost of Capital
The WACC of Marusan Securities Co Ltd (8613.T) is 8.4%.
| Range | Selected | |
| Cost of equity | 7.4% - 9.7% | 8.55% |
| Tax rate | 29.7% - 30.4% | 30.05% |
| Cost of debt | 4.0% - 4.5% | 4.25% |
| WACC | 7.3% - 9.5% | 8.4% |
| Category | Low | High |
| Long-term bond rate | 1.4% | 1.9% |
| Equity market risk premium | 6.1% | 7.1% |
| Adjusted beta | 0.99 | 1.03 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 7.4% | 9.7% |
| Tax rate | 29.7% | 30.4% |
| Debt/Equity ratio | 0.03 | 0.03 |
| Cost of debt | 4.0% | 4.5% |
| After-tax WACC | 7.3% | 9.5% |
| Selected WACC | 8.4% | |
| Debt/Equity | Unlevered | |||
| Peers | Company Name | ratio | Beta | beta |
| 8613.T | Marusan Securities Co Ltd | 0.03 | 0.98 | 0.96 |
| 2174.T | GCA Corp | 0.08 | 1.67 | 1.58 |
| 7185.T | Hirose Tusyo Inc | 0.26 | 0.66 | 0.56 |
| 8614.T | Toyo Securities Co Ltd | 0.27 | 1.02 | 0.86 |
| 8622.T | Mito Securities Co Ltd | 0.1 | 1.65 | 1.54 |
| 8624.T | Ichiyoshi Securities Co Ltd | 0.07 | 1.15 | 1.1 |
| 8706.T | Kyokuto Securities Co Ltd | 0.21 | 1.1 | 0.96 |
| 8707.T | IwaiCosmo Holdings Inc | 0.36 | 1.2 | 0.96 |
| 8708.T | Aizawa Securities Co Ltd | 0.62 | 1.33 | 0.93 |
| 8789.T | FinTech Global Inc | 0.35 | 1.4 | 1.12 |
| Low | High | |
| Unlevered beta | 0.96 | 1.02 |
| Relevered beta | 0.99 | 1.04 |
| Adjusted relevered beta | 0.99 | 1.03 |
8613.T'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 8613.T:
cost_of_equity (8.55%) = risk_free_rate (1.65%) + equity_risk_premium (6.60%) * adjusted_beta (0.99) + 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.