DIVA.JK WACC - Weighted Average Cost of Capital

The WACC of Distribusi Voucher Nusantara Tbk PT (DIVA.JK) is 11.2%.

The Cost of Equity of Distribusi Voucher Nusantara Tbk PT (DIVA.JK) is 14.50%.

The Cost of Debt of Distribusi Voucher Nusantara Tbk PT (DIVA.JK) is 5.50%.

	Range	Selected
Cost of equity	12.50% - 16.50%	14.50%
Tax rate	1.50% - 3.50%	2.50%
Cost of debt	4.00% - 7.00%	5.50%
WACC	9.4% - 13.0%	11.2%

WACC

DIVA.JK WACC calculation

Category	Low	High

Long-term bond rate	6.6%	7.1%
Equity market risk premium	7.9%	8.9%
Adjusted beta	0.75	1

Additional risk adjustments	0.0%	0.5%
Cost of equity	12.50%	16.50%

Tax rate	1.50%	3.50%
Debt/Equity ratio	0.57	0.57
Cost of debt	4.00%	7.00%

After-tax WACC	9.4%	13.0%


Selected WACC	11.2%

DIVA.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 DIVA.JK:

cost_of_equity (14.50%) = risk_free_rate (6.85%) + equity_risk_premium (8.40%) * adjusted_beta (0.75) + 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.