TRIM.JK WACC - Weighted Average Cost of Capital
The WACC of Trimegah Sekuritas Indonesia Tbk PT (TRIM.JK) is 8.7%.
| Range | Selected | |
| Cost of equity | 10.0% - 12.9% | 11.45% |
| Tax rate | 18.7% - 20.9% | 19.8% |
| Cost of debt | 5.0% - 5.0% | 5% |
| WACC | 7.8% - 9.6% | 8.7% |
| Category | Low | High |
| Long-term bond rate | 6.6% | 7.1% |
| Equity market risk premium | 7.9% | 8.9% |
| Adjusted beta | 0.43 | 0.6 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 10.0% | 12.9% |
| Tax rate | 18.7% | 20.9% |
| Debt/Equity ratio | 0.6 | 0.6 |
| Cost of debt | 5.0% | 5.0% |
| After-tax WACC | 7.8% | 9.6% |
| Selected WACC | 8.7% | |
| Debt/Equity | Unlevered | |||
| Peers | Company Name | ratio | Beta | beta |
| TRIM.JK | Trimegah Sekuritas Indonesia Tbk PT | 0.6 | 0.89 | 0.6 |
| AKSI.JK | Maming Enam Sembilan Mineral Tbk PT | 0.52 | 1.09 | 0.77 |
| APIC.JK | PACIFIC STRATEGIC FINANCIAL Tbk PT | 0.12 | -0.08 | -0.08 |
| BCAP.JK | MNC Kapital Indonesia Tbk PT | 7.98 | 0.97 | 0.13 |
| KREN.JK | Kresna Graha Investama Tbk PT | 1.66 | 0.69 | 0.3 |
| PADI.JK | Minna Padi Investama Sekuritas Tbk PT | 0.03 | -0.17 | -0.17 |
| PANS.JK | Panin Sekuritas Tbk PT | 0.05 | 0.27 | 0.26 |
| RELI.JK | Reliance Sekuritas Indonesia Tbk PT | 0 | 0.28 | 0.28 |
| UOBKH.BK | UOB Kay Hian Securities Thailand PCL | 0.01 | -0.21 | -0.21 |
| YULE.JK | Yulie Sekuritas Indonesia Tbk PT | 0 | 0.06 | 0.06 |
| Low | High | |
| Unlevered beta | 0.1 | 0.27 |
| Relevered beta | 0.15 | 0.4 |
| Adjusted relevered beta | 0.43 | 0.6 |
TRIM.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 TRIM.JK:
cost_of_equity (11.45%) = risk_free_rate (6.85%) + equity_risk_premium (8.40%) * adjusted_beta (0.43) + 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.