ZBRA.JK WACC - Weighted Average Cost of Capital
The WACC of Zebra Nusantara Tbk PT (ZBRA.JK) is 7.0%.
| Range | Selected | |
| Cost of equity | 11.5% - 14.6% | 13.05% |
| Tax rate | 12.0% - 22.9% | 17.45% |
| Cost of debt | 4.0% - 11.9% | 7.95% |
| WACC | 4.3% - 9.7% | 7.0% |
| Category | Low | High |
| Long-term bond rate | 6.6% | 7.1% |
| Equity market risk premium | 7.9% | 8.9% |
| Adjusted beta | 0.62 | 0.79 |
| Additional risk adjustments | 0.0% | 0.5% |
| Cost of equity | 11.5% | 14.6% |
| Tax rate | 12.0% | 22.9% |
| Debt/Equity ratio | 8.81 | 8.81 |
| Cost of debt | 4.0% | 11.9% |
| After-tax WACC | 4.3% | 9.7% |
| Selected WACC | 7.0% | |
| Debt/Equity | Unlevered | |||
| Peers | Company Name | ratio | Beta | beta |
| ZBRA.JK | Zebra Nusantara Tbk PT | 8.81 | 0.41 | 0.05 |
| BPTR.JK | Batavia Prosperindo Trans Tbk PT | 4.35 | 0.5 | 0.11 |
| GCAP.KL | G Capital Bhd | 0.53 | -0.03 | -0.02 |
| LRNA.JK | Eka Sari Lorena Transport Tbk PT | 0.21 | 0.32 | 0.27 |
| SAFE.JK | Steady Safe Tbk PT | 0.26 | -0.61 | -0.5 |
| SDMU.JK | Sidomulyo Selaras Tbk PT | 2.97 | 0.23 | 0.07 |
| TRUK.JK | Guna Timur Raya Tbk PT | 0.09 | 0.52 | 0.48 |
| VNS.VN | Vietnam Sun Corp | 0.87 | 0.09 | 0.05 |
| WEHA.JK | WEHA Transportasi Indonesia Tbk PT | 0.6 | 0.84 | 0.56 |
| Low | High | |
| Unlevered beta | 0.05 | 0.1 |
| Relevered beta | 0.43 | 0.69 |
| Adjusted relevered beta | 0.62 | 0.79 |
ZBRA.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 ZBRA.JK:
cost_of_equity (13.05%) = risk_free_rate (6.85%) + equity_risk_premium (8.40%) * adjusted_beta (0.62) + 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.