ASPI.JK WACC - Weighted Average Cost of Capital
The WACC of Andalan Sakti Primaindo PT (ASPI.JK) is 9.5%.
| Range | Selected | |
| Cost of equity | 9.1% - 11.3% | 10.2% |
| Tax rate | 22.0% - 23.2% | 22.6% |
| Cost of debt | 4.0% - 7.0% | 5.5% |
| WACC | 8.4% - 10.6% | 9.5% |
| Category | Low | High |
| Long-term bond rate | 6.6% | 7.1% |
| Equity market risk premium | 7.9% | 8.9% |
| Adjusted beta | 0.31 | 0.41 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 9.1% | 11.3% |
| Tax rate | 22.0% | 23.2% |
| Debt/Equity ratio | 0.13 | 0.13 |
| Cost of debt | 4.0% | 7.0% |
| After-tax WACC | 8.4% | 10.6% |
| Selected WACC | 9.5% | |
| Debt/Equity | Unlevered | |||
| Peers | Company Name | ratio | Beta | beta |
| ASPI.JK | Andalan Sakti Primaindo PT | 0.13 | 2.13 | 1.93 |
| BAPA.JK | Bekasi Asri Pemula Tbk PT | 0.09 | 0.62 | 0.58 |
| BCIP.JK | Bumi Citra Permai Tbk PT | 0 | 0.82 | 0.82 |
| DFAM.JK | Dafam Property Indonesia Tbk PT | 1.45 | 0.11 | 0.05 |
| FMII.JK | Fortune Mate Indonesia Tbk PT | 0.03 | -0.21 | -0.21 |
| MDLN.JK | Modernland Realty Tbk PT | 10.68 | 0.16 | 0.02 |
| MINA.JK | Sanurhasta Mitra Tbk PT | 0 | -1 | -1 |
| PAMG.JK | Bima Sakti Pertiwi Tbk PT | 0.43 | 0.25 | 0.19 |
| PUDP.JK | Pudjiadi Prestige Tbk PT | 0.03 | 1.68 | 1.64 |
| RBMS.JK | Ristia Bintang Mahkotasejati Tbk PT | 2.11 | -0.24 | -0.09 |
| SMDM.JK | Suryamas Dutamakmur Tbk PT | 0.03 | -0.44 | -0.43 |
| Low | High | |
| Unlevered beta | 0.02 | 0.19 |
| Relevered beta | -0.03 | 0.12 |
| Adjusted relevered beta | 0.31 | 0.41 |
ASPI.JK'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 ASPI.JK:
cost_of_equity (10.20%) = risk_free_rate (6.85%) + equity_risk_premium (8.40%) * adjusted_beta (0.31) + 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.