VASTN.AS WACC - Weighted Average Cost of Capital
The WACC of Vastned Retail NV (VASTN.AS) is 5.4%.
| Range | Selected | |
| Cost of equity | 5.0% - 9.6% | 7.3% |
| Tax rate | 3.3% - 4.8% | 4.05% |
| Cost of debt | 4.0% - 4.8% | 4.4% |
| WACC | 4.3% - 6.5% | 5.4% |
| Category | Low | High |
| Long-term bond rate | 2.6% | 3.1% |
| Equity market risk premium | 5.1% | 6.1% |
| Adjusted beta | 0.47 | 0.98 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 5.0% | 9.6% |
| Tax rate | 3.3% | 4.8% |
| Debt/Equity ratio | 1.5 | 1.5 |
| Cost of debt | 4.0% | 4.8% |
| After-tax WACC | 4.3% | 6.5% |
| Selected WACC | 5.4% | |
| Debt/Equity | Unlevered | |||
| Peers | Company Name | ratio | Beta | beta |
| VASTN.AS | Vastned Retail NV | 1.5 | 0.22 | 0.09 |
| ASC.BR | Ascencio SCA | 1.11 | 0.57 | 0.27 |
| BLND.L | British Land Company PLC | 0.57 | 0.91 | 0.58 |
| CAPC.L | Capital & Counties Properties PLC | 0.67 | 1.36 | 0.83 |
| FREY.PA | Frey SA | 1.36 | 0.08 | 0.03 |
| HMSO.L | Hammerson PLC | 1.16 | 1.26 | 0.59 |
| SHB.L | Shaftesbury PLC | 0.6 | 0.95 | 0.6 |
| WEHB.BR | Wereldhave Belgium NV | 0.55 | 0.13 | 0.08 |
| YGGYO.IS | Yeni Gimat Gayrimenkul Yatirim Ortakligi AS | 0 | 0.05 | 0.05 |
| YORE.MC | Olimpo Real Estate SOCIMI SA | 0.88 | -0.06 | -0.03 |
| Low | High | |
| Unlevered beta | 0.09 | 0.4 |
| Relevered beta | 0.21 | 0.97 |
| Adjusted relevered beta | 0.47 | 0.98 |
VASTN.AS'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 VASTN.AS:
cost_of_equity (7.30%) = risk_free_rate (2.85%) + equity_risk_premium (5.60%) * adjusted_beta (0.47) + 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.