The WACC of Discover Financial Services (DFS) is 7.3%.
| Range | Selected | |
| Cost of equity | 7.80% - 10.80% | 9.30% |
| Tax rate | 22.90% - 23.00% | 22.95% |
| Cost of debt | 5.00% - 5.00% | 5.00% |
| WACC | 6.4% - 8.3% | 7.3% |
| Category | Low | High |
| Long-term bond rate | 3.9% | 4.4% |
| Equity market risk premium | 4.6% | 5.6% |
| Adjusted beta | 0.86 | 1.06 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 7.80% | 10.80% |
| Tax rate | 22.90% | 23.00% |
| Debt/Equity ratio | 0.57 | 0.57 |
| Cost of debt | 5.00% | 5.00% |
| After-tax WACC | 6.4% | 8.3% |
| Selected WACC | 7.3% | |