The WACC of Tamex Obiekty Sportowe SA (TOS.WA) is 8.9%.
Range | Selected | |
Cost of equity | 7.6% - 10.5% | 9.05% |
Tax rate | 23.3% - 25.0% | 24.15% |
Cost of debt | 6.7% - 11.1% | 8.9% |
WACC | 7.4% - 10.4% | 8.9% |
Category | Low | High |
Long-term bond rate | 5.5% | 6.0% |
Equity market risk premium | 6.3% | 7.3% |
Adjusted beta | 0.33 | 0.55 |
Additional risk adjustments | 0.0% | 0.5% |
Cost of equity | 7.6% | 10.5% |
Tax rate | 23.3% | 25.0% |
Debt/Equity ratio | 0.08 | 0.08 |
Cost of debt | 6.7% | 11.1% |
After-tax WACC | 7.4% | 10.4% |
Selected WACC | 8.9% | |
Debt/Equity | Unlevered | |||
Peers | Company Name | ratio | Beta | beta |
TOS.WA | Tamex Obiekty Sportowe SA | 0.08 | -0.36 | -0.34 |
AGA.MI | Agatos SpA | 2.81 | 0 | 0 |
ATR.WA | Atrem SA | 0.06 | 0.64 | 0.61 |
BTX.WA | Forbuild SA | 0.05 | 0 | 0 |
DOMIK.AT | Domiki Kritis SA | 0.25 | 0.59 | 0.5 |
EBX.WA | Ekobox SA | 0.02 | 1.27 | 1.26 |
EKTER.AT | Ekter SA | 0.36 | 1.03 | 0.81 |
ENP.WA | Energoaparatura SA | 0.01 | -0.07 | -0.07 |
MSP.WA | Mostostal Plock SA | 0.19 | 0.2 | 0.18 |
VTL.WA | Vistal Gdynia SA w restrukturyzacji | 1.49 | 0 | 0 |
Low | High | |
Unlevered beta | 0 | 0.3 |
Relevered beta | 0 | 0.33 |
Adjusted relevered beta | 0.33 | 0.55 |
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 TOS.WA:
cost_of_equity (9.05%) = risk_free_rate (5.75%) + equity_risk_premium (6.80%) * adjusted_beta (0.33) + 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.