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Cinya · 2023年04月29日

debt,stock,equity的weight 怎么算?公式是什么

NO.PZ2023031001000056

问题如下:

An analyst gathered the following Information about the capital structure and before-tax component costs for a company. The company’s marginal tax rate is 40%.


The company’s weighted average cost of capital (WACC) is closest to:

选项:

A.

8.55%.

B.

9.95%.

C.

10.00%.

解释:

As the target capital weights are not given, you can use market value weights to compute the WACC. The market value weights for debt, preferred stock and equity are 0.2667, 0.0667, and 0.6667 respectively.

WACC=Wd * rd (1 -t) + Wp * rp + We * re

= 0.2667 * 8%(1 - 0.4) + 0.0667 * 10% + 0.6667 * 12% = 9.95%

谢谢老师

1 个答案

王琛_品职助教 · 2023年05月04日

嗨,努力学习的PZer你好:


1

使用市场价值 market value,以 debt 为例,权重的计算公式为

80/(80+20+200) = 0.2667

2

关于权重的计算注意事项,也请参考:https://class.pzacademy.com/qa/121301

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虽然现在很辛苦,但努力过的感觉真的很好,加油!