D11.VN WACC - Weighted Average Cost of Capital
The WACC of Real Estate 11 JSC (D11.VN) is 8.2%.
| Range | Selected | |
| Cost of equity | 7.0% - 10.2% | 8.6% |
| Tax rate | 18.4% - 19.4% | 18.9% |
| Cost of debt | 4.0% - 4.5% | 4.25% |
| WACC | 6.8% - 9.7% | 8.2% |
| Category | Low | High |
| Long-term bond rate | 2.7% | 3.2% |
| Equity market risk premium | 9.5% | 10.5% |
| Adjusted beta | 0.45 | 0.61 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 7.0% | 10.2% |
| Tax rate | 18.4% | 19.4% |
| Debt/Equity ratio | 0.08 | 0.08 |
| Cost of debt | 4.0% | 4.5% |
| After-tax WACC | 6.8% | 9.7% |
| Selected WACC | 8.2% | |
| Debt/Equity | Unlevered | |||
| Peers | Company Name | ratio | Beta | beta |
| D11.VN | Real Estate 11 JSC | 0.08 | 0.21 | 0.2 |
| 526727.BO | Garnet Construction Ltd | 0.21 | -0.68 | -0.58 |
| AAV.VN | Viet Tien Son Real Estate Holding Co | 0.22 | 0.15 | 0.13 |
| CEO.VN | CEO Group JSC | 0.05 | 1.87 | 1.79 |
| CIG.VN | Coma 18 JSC | 0.42 | 0.04 | 0.03 |
| CLG.VN | Cotec Investment and Land House Development JSC | 2.46 | -0.04 | -0.01 |
| HQC.VN | Hoang Quan Consulting Trading Service Real Estate Corp | 0.96 | 1.24 | 0.7 |
| PRECHA.BK | Preecha Group PCL | 0.62 | 1.36 | 0.91 |
| RCL.VN | Cho Lon Real Estate JSC | 0.08 | 0.33 | 0.31 |
| VIC.VN | Vingroup JSC | 0.66 | 0.81 | 0.53 |
| Low | High | |
| Unlevered beta | 0.17 | 0.4 |
| Relevered beta | 0.18 | 0.42 |
| Adjusted relevered beta | 0.45 | 0.61 |
D11.VN'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 D11.VN:
cost_of_equity (8.60%) = risk_free_rate (2.95%) + equity_risk_premium (10.00%) * adjusted_beta (0.45) + 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.