Category	Low	High

Long-term bond rate	3.9%	4.4%
Equity market risk premium	4.6%	5.6%
Adjusted beta	99.01	229.45

Additional risk adjustments	0.0%	0.5%
Cost of equity	459.3%	1289.8%

Tax rate	26.2%	27.0%
Debt/Equity ratio	925.89	925.89
Cost of debt	7.0%	9.1%

After-tax WACC	5.7%	8.0%


Selected WACC	6.8%

PBIO WACC - Detailed calculations of Beta

		Debt/Equity		Unlevered
Peers	Company Name	ratio	Beta	beta

PBIO	Pressure Biosciences Inc	925.89	-2.61	0
ARCH.V	Arch Biopartners Inc	0.02	0.68	0.67
CDXC	Chromadex Corp	0	0.57	0.57
CRL	Charles River Laboratories International Inc	0.29	0.43	0.36
ESSI	Eco Science Solutions Inc	324.48	1.04	0
EVIO	EVIO Inc	595.18	0	0
ICLR	ICON PLC	0.29	0.67	0.56
IQV	IQVIA Holdings Inc	0.5	0.65	0.47
PSNL	Personalis Inc	0	0.98	0.98

	Low	High

Unlevered beta	0.38	0.54
Relevered beta	147.28	341.97
Adjusted relevered beta	99.01	229.45

PBIO'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 PBIO:

cost_of_equity (874.55%) = risk_free_rate (4.15%) + equity_risk_premium (5.10%) * adjusted_beta (99.01) + 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.