{"product_id":"wacc","title":"WACC Calculator (Weighted Average Cost of Capital)","description":"\u003cstyle\u003e\n.wacc-calculator{--ink:#0f172a;--muted:#475569;--border:#e2e8f0;--surface:#ffffff;--tint:#f8fafc;--primary:#1d4ed8;--accent:#c2410c;--accent-hover:#9a3412;--chart-1:#1e40af;--chart-2:#0d9488;--chart-3:#7c3aed;--chart-4:#be185d;--chart-5:#334155;--danger:#b91c1c;--success:#047857;--focus:#2563eb;container-type:inline-size;container-name:wacc-layout;width:100%;max-width:1200px;margin:0 auto;color:var(--ink);font-family:ui-sans-serif,system-ui,-apple-system,BlinkMacSystemFont,\"Segoe UI\",sans-serif;font-size:15px;line-height:1.55;background:var(--surface);font-variant-numeric:tabular-nums}\n.wacc-calculator,.wacc-calculator *,.wacc-calculator *::before,.wacc-calculator *::after{box-sizing:border-box}\n.wacc-calculator a{color:var(--primary);text-decoration:underline;text-underline-offset:2px}\n.wacc-calculator a:hover{color:#1e3a8a}\n.wacc-calculator button,.wacc-calculator 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auto}\n.wacc-workspace{display:grid;grid-template-columns:minmax(0,1fr);gap:24px;align-items:start;min-width:0}\n.wacc-panel{border:1px solid var(--border);border-radius:8px;background:var(--surface);box-shadow:0 1px 2px rgba(15,23,42,.06);padding:24px;min-width:0}\n.wacc-panel-title{margin:0 0 16px;font-size:18px;line-height:1.35;font-weight:650}\n.wacc-panel-intro{margin:-8px 0 20px;color:var(--muted);font-size:13px;font-weight:500}\n.wacc-fields{display:grid;grid-template-columns:repeat(auto-fit,minmax(min(100%,220px),1fr));gap:16px;align-items:start;min-width:0}\n.wacc-field{display:flex;flex-direction:column;gap:6px;min-width:0}\n.wacc-label{font-size:14px;font-weight:600;color:var(--ink)}\n.wacc-control{display:flex;align-items:stretch;min-width:0;border:1px solid #cbd5e1;border-radius:6px;background:#fff;transition:border-color .15s ease,box-shadow .15s ease}\n.wacc-control:focus-within{border-color:var(--focus);box-shadow:0 0 0 3px rgba(37,99,235,.14)}\n.wacc-affix{display:flex;align-items:center;justify-content:center;min-width:38px;padding:0 10px;background:var(--tint);color:var(--muted);font-weight:700;border-right:1px solid var(--border)}\n.wacc-affix-right{border-right:0;border-left:1px solid var(--border)}\n.wacc-input{width:100%;min-width:0;height:44px;border:0;background:transparent;padding:9px 11px;outline:none;font-variant-numeric:tabular-nums}\n.wacc-helper{min-height:40px;margin:0;color:var(--muted);font-size:13px;font-weight:500;line-height:1.45}\n.wacc-error{min-height:19px;margin:0;color:var(--danger);font-size:13px;font-weight:600;line-height:1.4}\n.wacc-results{display:grid;gap:16px;min-width:0}\n.wacc-primary-result{padding:20px;border:1px solid #bfdbfe;border-radius:8px;background:#eff6ff;min-width:0}\n.wacc-primary-label{margin:0 0 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.wacc-chart-card{height:auto!important;min-height:0!important;gap:20px!important}\n.wacc-safe-chart-stack .wacc-chart-caption{margin-top:20px!important}\n.wacc-table-card{display:grid;gap:0;min-width:0}\n.wacc-table-wrap{width:100%;max-width:100%;overflow-x:auto;overflow-y:visible;border:1px solid var(--border);border-radius:6px;background:#fff;min-width:0}\n.wacc-table{width:100%;border-collapse:collapse;min-width:620px;font-size:13px;font-variant-numeric:tabular-nums}\n.wacc-table th,.wacc-table td{padding:10px 12px;border-bottom:1px solid var(--border);text-align:left;vertical-align:top}\n.wacc-table th{background:#0f2747;color:#fff;font-weight:700;white-space:nowrap}\n.wacc-table td:not(:first-child),.wacc-table th:not(:first-child){text-align:right}\n.wacc-table tbody tr:hover{background:#f8fafc}\n.wacc-table tbody tr:last-child td{border-bottom:0}\n.wacc-table-note{margin-top:16px;padding:10px 12px;border:1px solid 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p{margin:0;color:#1e3a8a}\n.wacc-visually-hidden{position:absolute!important;width:1px!important;height:1px!important;padding:0!important;margin:-1px!important;overflow:hidden!important;clip:rect(0,0,0,0)!important;white-space:nowrap!important;border:0!important}\n@container wacc-layout (min-width:640px){.wacc-chart-cluster{grid-template-columns:minmax(220px,320px) minmax(0,max-content);column-gap:24px;justify-content:center}.wacc-line-cluster{grid-template-columns:minmax(0,1fr)}.wacc-chart-grid{grid-template-columns:minmax(0,1fr)}}\n@container wacc-layout (min-width:900px){.wacc-workspace{grid-template-columns:minmax(0,1fr) minmax(0,1fr)}}\n@container wacc-layout (max-width:639px){.wacc-chart-legend{align-self:center}.wacc-header,.wacc-panel,.wacc-section,.wacc-education{padding:16px}.wacc-toolbar{align-items:stretch}.wacc-button{flex:1 1 auto}.wacc-download{flex:1 0 100%}.wacc-fields{grid-template-columns:minmax(0,1fr)}.wacc-legend-row{grid-template-columns:12px minmax(74px,1fr) max-content;column-gap:8px}.wacc-legend-percent{grid-column:2\/4;padding-left:0}.wacc-chart-caption,.wacc-table-note{margin-top:16px}.wacc-line-svg{min-height:220px}.wacc-title{font-size:22px}}\n@media (max-width:639px){.wacc-chart-legend{align-self:center}.wacc-header,.wacc-panel,.wacc-section,.wacc-education{padding:16px}.wacc-toolbar{align-items:stretch}.wacc-button{flex:1 1 auto}.wacc-download{flex:1 0 100%}.wacc-fields{grid-template-columns:minmax(0,1fr)}.wacc-legend-row{grid-template-columns:12px minmax(74px,1fr) max-content;column-gap:8px}.wacc-legend-percent{grid-column:2\/4;padding-left:0}.wacc-chart-caption,.wacc-table-note{margin-top:16px}.wacc-line-svg{min-height:220px}.wacc-title{font-size:22px}}\n\u003c\/style\u003e\n\u003cdiv class=\"wacc-calculator\" data-calculator-root\u003e\n  \u003cdiv class=\"wacc-shell\"\u003e\n    \u003cheader class=\"wacc-header\"\u003e\n      \u003ch2 class=\"wacc-title\"\u003eWeighted Average Cost of Capital Calculator\u003c\/h2\u003e\n      \u003cp class=\"wacc-subtitle\"\u003eEstimate the blended after-tax cost of equity and debt, see each funding source’s contribution, and export the current analysis to Excel.\u003c\/p\u003e\n      \u003cdiv class=\"wacc-pills\" aria-label=\"Live WACC summary\"\u003e\n        \u003cspan class=\"wacc-pill\"\u003eWACC \u003cstrong id=\"wacc-pill-wacc\"\u003e11.42%\u003c\/strong\u003e\u003c\/span\u003e\n        \u003cspan class=\"wacc-pill\"\u003eEquity weight \u003cstrong id=\"wacc-pill-equity\"\u003e58.33%\u003c\/strong\u003e\u003c\/span\u003e\n        \u003cspan class=\"wacc-pill\"\u003eDebt weight \u003cstrong id=\"wacc-pill-debt\"\u003e41.67%\u003c\/strong\u003e\u003c\/span\u003e\n        \u003cspan class=\"wacc-pill\"\u003eTotal capital \u003cstrong id=\"wacc-pill-capital\"\u003e$1,200,000.00\u003c\/strong\u003e\u003c\/span\u003e\n      \u003c\/div\u003e\n    \u003c\/header\u003e\n\n    \u003cdiv class=\"wacc-toolbar\" aria-label=\"Calculator actions\"\u003e\n      \u003cbutton class=\"wacc-button wacc-download\" id=\"wacc-download\" type=\"button\"\u003e\n        \u003csvg class=\"wacc-icon\" viewbox=\"0 0 24 24\" aria-hidden=\"true\"\u003e\u003cpath fill=\"currentColor\" d=\"M11 3h2v9.17l3.59-3.58L18 10l-6 6-6-6 1.41-1.41L11 12.17V3ZM5 18h14v2H5v-2Z\"\u003e\u003c\/path\u003e\u003c\/svg\u003e\n        \u003cspan\u003eDownload Excel\u003c\/span\u003e\n      \u003c\/button\u003e\n      \u003cbutton class=\"wacc-button wacc-reset\" id=\"wacc-reset\" type=\"button\"\u003eReset\u003c\/button\u003e\n    \u003c\/div\u003e\n\n    \u003cdiv class=\"wacc-workspace\"\u003e\n      \u003csection class=\"wacc-panel\" aria-labelledby=\"wacc-inputs-title\"\u003e\n        \u003ch3 class=\"wacc-panel-title\" id=\"wacc-inputs-title\"\u003eCapital assumptions\u003c\/h3\u003e\n        \u003cp class=\"wacc-panel-intro\"\u003eUse market values when they are available. All results update as you type.\u003c\/p\u003e\n        \u003cdiv class=\"wacc-fields\"\u003e\n          \u003cdiv class=\"wacc-field\"\u003e\n            \u003clabel class=\"wacc-label\" for=\"wacc-cost-equity\"\u003eCost of equity\u003c\/label\u003e\n            \u003cdiv class=\"wacc-control\"\u003e\n\u003cinput class=\"wacc-input\" id=\"wacc-cost-equity\" data-wacc-field=\"costEquity\" inputmode=\"decimal\" autocomplete=\"off\" value=\"15.00\" aria-describedby=\"wacc-cost-equity-help wacc-cost-equity-error\"\u003e\u003cspan class=\"wacc-affix wacc-affix-right\"\u003e%\u003c\/span\u003e\n\u003c\/div\u003e\n            \u003cp class=\"wacc-helper\" id=\"wacc-cost-equity-help\"\u003eRequired return expected by common shareholders.\u003c\/p\u003e\n            \u003cp class=\"wacc-error\" id=\"wacc-cost-equity-error\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"wacc-field\"\u003e\n            \u003clabel class=\"wacc-label\" for=\"wacc-equity\"\u003eEquity market value\u003c\/label\u003e\n            \u003cdiv class=\"wacc-control\"\u003e\n\u003cspan class=\"wacc-affix\"\u003e$\u003c\/span\u003e\u003cinput class=\"wacc-input\" id=\"wacc-equity\" data-wacc-field=\"equity\" inputmode=\"decimal\" autocomplete=\"off\" value=\"700,000.00\" aria-describedby=\"wacc-equity-help wacc-equity-error\"\u003e\n\u003c\/div\u003e\n            \u003cp class=\"wacc-helper\" id=\"wacc-equity-help\"\u003eCurrent market value of common equity.\u003c\/p\u003e\n            \u003cp class=\"wacc-error\" id=\"wacc-equity-error\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"wacc-field\"\u003e\n            \u003clabel class=\"wacc-label\" for=\"wacc-cost-debt\"\u003ePre-tax cost of debt\u003c\/label\u003e\n            \u003cdiv class=\"wacc-control\"\u003e\n\u003cinput class=\"wacc-input\" id=\"wacc-cost-debt\" data-wacc-field=\"costDebt\" inputmode=\"decimal\" autocomplete=\"off\" value=\"8.00\" aria-describedby=\"wacc-cost-debt-help wacc-cost-debt-error\"\u003e\u003cspan class=\"wacc-affix wacc-affix-right\"\u003e%\u003c\/span\u003e\n\u003c\/div\u003e\n            \u003cp class=\"wacc-helper\" id=\"wacc-cost-debt-help\"\u003eCurrent borrowing yield or effective interest rate.\u003c\/p\u003e\n            \u003cp class=\"wacc-error\" id=\"wacc-cost-debt-error\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"wacc-field\"\u003e\n            \u003clabel class=\"wacc-label\" for=\"wacc-debt\"\u003eDebt market value\u003c\/label\u003e\n            \u003cdiv class=\"wacc-control\"\u003e\n\u003cspan class=\"wacc-affix\"\u003e$\u003c\/span\u003e\u003cinput class=\"wacc-input\" id=\"wacc-debt\" data-wacc-field=\"debt\" inputmode=\"decimal\" autocomplete=\"off\" value=\"500,000.00\" aria-describedby=\"wacc-debt-help wacc-debt-error\"\u003e\n\u003c\/div\u003e\n            \u003cp class=\"wacc-helper\" id=\"wacc-debt-help\"\u003eInterest-bearing debt included in the capital structure.\u003c\/p\u003e\n            \u003cp class=\"wacc-error\" id=\"wacc-debt-error\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"wacc-field\"\u003e\n            \u003clabel class=\"wacc-label\" for=\"wacc-tax-rate\"\u003eCorporate tax rate\u003c\/label\u003e\n            \u003cdiv class=\"wacc-control\"\u003e\n\u003cinput class=\"wacc-input\" id=\"wacc-tax-rate\" data-wacc-field=\"taxRate\" inputmode=\"decimal\" autocomplete=\"off\" value=\"20.00\" aria-describedby=\"wacc-tax-rate-help wacc-tax-rate-error\"\u003e\u003cspan class=\"wacc-affix wacc-affix-right\"\u003e%\u003c\/span\u003e\n\u003c\/div\u003e\n            \u003cp class=\"wacc-helper\" id=\"wacc-tax-rate-help\"\u003eMarginal rate used to estimate the interest tax shield.\u003c\/p\u003e\n            \u003cp class=\"wacc-error\" id=\"wacc-tax-rate-error\" aria-live=\"polite\"\u003e\u003c\/p\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/section\u003e\n\n      \u003csection class=\"wacc-panel\" aria-labelledby=\"wacc-results-title\"\u003e\n        \u003ch3 class=\"wacc-panel-title\" id=\"wacc-results-title\"\u003eLive results\u003c\/h3\u003e\n        \u003cdiv class=\"wacc-results\"\u003e\n          \u003cdiv class=\"wacc-primary-result\" aria-live=\"polite\" aria-atomic=\"true\"\u003e\n            \u003cp class=\"wacc-primary-label\"\u003eWeighted average cost of capital\u003c\/p\u003e\n            \u003cp class=\"wacc-primary-value\" id=\"wacc-primary-value\"\u003e11.42%\u003c\/p\u003e\n            \u003cp class=\"wacc-primary-note\" id=\"wacc-primary-note\"\u003eA project financed at this mix should generally clear an 11.42% return before it begins creating value.\u003c\/p\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"wacc-result-grid\"\u003e\n            \u003cdiv class=\"wacc-result-card\"\u003e\n\u003cp class=\"wacc-result-label\"\u003eEquity weight\u003c\/p\u003e\n\u003cp class=\"wacc-result-value\" id=\"wacc-equity-weight\"\u003e58.33%\u003c\/p\u003e\n\u003cp class=\"wacc-result-detail\" id=\"wacc-equity-contribution\"\u003e8.75 pp contribution\u003c\/p\u003e\n\u003c\/div\u003e\n            \u003cdiv class=\"wacc-result-card\"\u003e\n\u003cp class=\"wacc-result-label\"\u003eDebt weight\u003c\/p\u003e\n\u003cp class=\"wacc-result-value\" id=\"wacc-debt-weight\"\u003e41.67%\u003c\/p\u003e\n\u003cp class=\"wacc-result-detail\" id=\"wacc-debt-contribution\"\u003e2.67 pp contribution\u003c\/p\u003e\n\u003c\/div\u003e\n            \u003cdiv class=\"wacc-result-card\"\u003e\n\u003cp class=\"wacc-result-label\"\u003eAfter-tax debt cost\u003c\/p\u003e\n\u003cp class=\"wacc-result-value\" id=\"wacc-after-tax-debt\"\u003e6.40%\u003c\/p\u003e\n\u003cp class=\"wacc-result-detail\" id=\"wacc-tax-shield\"\u003e1.60 pp tax shield\u003c\/p\u003e\n\u003c\/div\u003e\n            \u003cdiv class=\"wacc-result-card\"\u003e\n\u003cp class=\"wacc-result-label\"\u003eTotal capital\u003c\/p\u003e\n\u003cp class=\"wacc-result-value\" id=\"wacc-total-capital\"\u003e$1,200,000.00\u003c\/p\u003e\n\u003cp class=\"wacc-result-detail\"\u003eEquity plus interest-bearing debt\u003c\/p\u003e\n\u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"wacc-formula\"\u003e\n            \u003cp class=\"wacc-formula-title\"\u003eCurrent calculation\u003c\/p\u003e\n            \u003cp class=\"wacc-formula-code\" id=\"wacc-formula-text\"\u003e58.33% × 15.00% + 41.67% × 8.00% × (1 − 20.00%) = 11.42%\u003c\/p\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/section\u003e\n    \u003c\/div\u003e\n\n    \u003csection class=\"wacc-section\" aria-labelledby=\"wacc-breakdown-title\"\u003e\n      \u003cdiv class=\"wacc-section-head\"\u003e\n        \u003ch3 class=\"wacc-section-title\" id=\"wacc-breakdown-title\"\u003eCapital mix and WACC contribution\u003c\/h3\u003e\n        \u003cp class=\"wacc-section-copy\"\u003eThe capital structure determines the weights; the required returns determine how much each source adds to WACC.\u003c\/p\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"wacc-chart-grid\"\u003e\n        \u003carticle class=\"wacc-chart-card\" data-wacc-chart-card=\"capital\"\u003e\n          \u003cdiv\u003e\n\u003ch4 class=\"wacc-chart-title\"\u003eCapital structure\u003c\/h4\u003e\n\u003cp class=\"wacc-chart-interpretation\" id=\"wacc-capital-interpretation\"\u003eEquity supplies 58.33% of the current funding mix.\u003c\/p\u003e\n\u003c\/div\u003e\n          \u003cdiv class=\"wacc-chart-cluster\"\u003e\n            \u003cdiv class=\"wacc-chart-visual\" data-wacc-plot=\"capital\"\u003e\n\u003csvg class=\"wacc-donut-svg\" id=\"wacc-capital-chart\" viewbox=\"0 0 320 320\" role=\"img\" aria-labelledby=\"wacc-capital-chart-title wacc-capital-chart-desc\"\u003e\u003ctitle id=\"wacc-capital-chart-title\"\u003eCapital structure donut chart\u003c\/title\u003e\n\u003cdesc id=\"wacc-capital-chart-desc\"\u003eEquity 58.33 percent and debt 41.67 percent.\u003c\/desc\u003e\u003cg id=\"wacc-capital-paths\"\u003e\u003c\/g\u003e\u003ctext id=\"wacc-capital-center-label\" x=\"160\" y=\"145\" text-anchor=\"middle\" fill=\"#475569\" font-size=\"14\" font-weight=\"600\"\u003eTotal capital\u003c\/text\u003e\u003ctext id=\"wacc-capital-center-value\" x=\"160\" y=\"174\" text-anchor=\"middle\" fill=\"#0f172a\" font-size=\"20\" font-weight=\"700\"\u003e$1.20M\u003c\/text\u003e\u003c\/svg\u003e\u003cdiv class=\"wacc-empty\" id=\"wacc-capital-empty\" aria-hidden=\"true\"\u003eEnter equity or debt to see the capital mix.\u003c\/div\u003e\n\u003c\/div\u003e\n            \u003cdiv class=\"wacc-chart-legend\" id=\"wacc-capital-legend\" aria-label=\"Capital structure legend\"\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"wacc-chart-caption\" id=\"wacc-capital-caption\"\u003eMarket-value weights are used because they better reflect the current economic claims of lenders and shareholders.\u003c\/div\u003e\n        \u003c\/article\u003e\n\n        \u003carticle class=\"wacc-chart-card\" data-wacc-chart-card=\"sensitivity\"\u003e\n          \u003cdiv\u003e\n\u003ch4 class=\"wacc-chart-title\"\u003eWACC sensitivity to debt weight\u003c\/h4\u003e\n\u003cp class=\"wacc-chart-interpretation\" id=\"wacc-sensitivity-interpretation\"\u003eAt unchanged component costs, the current 41.67% debt weight produces an 11.42% WACC.\u003c\/p\u003e\n\u003c\/div\u003e\n          \u003cdiv class=\"wacc-chart-cluster wacc-line-cluster\"\u003e\n            \u003cdiv class=\"wacc-chart-visual\" data-wacc-plot=\"sensitivity\"\u003e\n\u003csvg class=\"wacc-line-svg\" id=\"wacc-sensitivity-chart\" viewbox=\"0 0 760 360\" role=\"img\" aria-labelledby=\"wacc-sensitivity-chart-title wacc-sensitivity-chart-desc\"\u003e\u003ctitle id=\"wacc-sensitivity-chart-title\"\u003eWACC sensitivity line chart\u003c\/title\u003e\n\u003cdesc id=\"wacc-sensitivity-chart-desc\"\u003eModeled WACC as debt weight changes from zero to one hundred percent.\u003c\/desc\u003e\u003cg id=\"wacc-sensitivity-grid\"\u003e\u003c\/g\u003e\u003cpath id=\"wacc-sensitivity-area\" fill=\"#1e40af\" fill-opacity=\"0.10\"\u003e\u003c\/path\u003e\u003cpath id=\"wacc-sensitivity-line\" fill=\"none\" stroke=\"#1e40af\" stroke-width=\"4\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\u003e\u003c\/path\u003e\u003ccircle id=\"wacc-sensitivity-dot\" r=\"7\" fill=\"#7c3aed\" stroke=\"#ffffff\" stroke-width=\"3\"\u003e\u003c\/circle\u003e\u003cg id=\"wacc-sensitivity-labels\"\u003e\u003c\/g\u003e\u003c\/svg\u003e\u003cdiv class=\"wacc-empty\" id=\"wacc-sensitivity-empty\" aria-hidden=\"true\"\u003eEnter component costs to see WACC sensitivity.\u003c\/div\u003e\n\u003c\/div\u003e\n            \u003cdiv class=\"wacc-chart-legend\" id=\"wacc-sensitivity-legend\" aria-label=\"WACC sensitivity legend\"\u003e\u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"wacc-chart-caption\" id=\"wacc-sensitivity-caption\"\u003eThis is a mechanical sensitivity, not an optimal-capital-structure model. In practice, heavier leverage can change both debt and equity costs.\u003c\/div\u003e\n        \u003c\/article\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n\n    \u003csection class=\"wacc-section wacc-table-card\" aria-labelledby=\"wacc-detail-title\" data-wacc-table-card\u003e\n      \u003cdiv class=\"wacc-section-head\"\u003e\n        \u003ch3 class=\"wacc-section-title\" id=\"wacc-detail-title\"\u003eCalculation details\u003c\/h3\u003e\n        \u003cp class=\"wacc-section-copy\"\u003eEvery table value comes from the same live model used for the headline result and charts.\u003c\/p\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"wacc-table-wrap\" data-wacc-table-wrap\u003e\n        \u003ctable class=\"wacc-table\" aria-describedby=\"wacc-detail-note\"\u003e\n          \u003cthead\u003e\u003ctr\u003e\n\u003cth scope=\"col\"\u003eComponent\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eMarket value\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eCapital weight\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eInput cost\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eAfter-tax cost\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eWACC contribution\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n          \u003ctbody id=\"wacc-detail-body\"\u003e\u003c\/tbody\u003e\n        \u003c\/table\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"wacc-table-note\" id=\"wacc-detail-note\" data-wacc-table-note\u003eThe debt contribution applies the corporate tax rate only to the debt cost. Equity is not reduced by the interest tax shield.\u003c\/div\u003e\n    \u003c\/section\u003e\n\n    \u003csection class=\"wacc-section wacc-table-card\" aria-labelledby=\"wacc-sensitivity-table-title\" data-wacc-table-card\u003e\n      \u003cdiv class=\"wacc-section-head\"\u003e\n        \u003ch3 class=\"wacc-section-title\" id=\"wacc-sensitivity-table-title\"\u003eSensitivity table\u003c\/h3\u003e\n        \u003cp class=\"wacc-section-copy\"\u003eSelected points from the chart show how the weighted rate changes when only the debt weight moves.\u003c\/p\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"wacc-table-wrap\" data-wacc-table-wrap\u003e\n        \u003ctable class=\"wacc-table\" aria-describedby=\"wacc-sensitivity-table-note\"\u003e\n          \u003cthead\u003e\u003ctr\u003e\n\u003cth scope=\"col\"\u003eDebt weight\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eEquity weight\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eEquity contribution\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eDebt contribution\u003c\/th\u003e\n\u003cth scope=\"col\"\u003eModeled WACC\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n          \u003ctbody id=\"wacc-sensitivity-body\"\u003e\u003c\/tbody\u003e\n        \u003c\/table\u003e\n      \u003c\/div\u003e\n      \u003cdiv class=\"wacc-table-note\" id=\"wacc-sensitivity-table-note\" data-wacc-table-note\u003eComponent costs and the tax rate are held constant across rows. Real financing costs may rise or fall as leverage changes.\u003c\/div\u003e\n    \u003c\/section\u003e\n\n    \u003csection class=\"wacc-education\" aria-labelledby=\"wacc-guide-title\"\u003e\n      \u003cdiv class=\"wacc-education-block\"\u003e\n        \u003ch2 id=\"wacc-guide-title\"\u003eHow to use and interpret this WACC calculator\u003c\/h2\u003e\n        \u003cp\u003eWeighted average cost of capital, or WACC, estimates the blended annual return required by the providers of a company’s long-term capital. It combines the required return on equity with the after-tax cost of debt, weighted by the market value of each source. Analysts commonly use WACC as a hurdle rate for projects with risk similar to the existing business and as a discount rate for unlevered free cash flow in a discounted cash flow model.\u003c\/p\u003e\n        \u003cp\u003eThe output is an analytical benchmark, not personalized investment advice. A company-specific WACC depends on judgment about market values, comparable-company risk, borrowing costs, tax capacity, and the risk of the cash flows being valued.\u003c\/p\u003e\n      \u003c\/div\u003e\n\n      \u003cdiv class=\"wacc-education-block\"\u003e\n        \u003ch3\u003eWhat each input means\u003c\/h3\u003e\n        \u003cp\u003e\u003cstrong\u003eCost of equity\u003c\/strong\u003e is the annual return common shareholders require for bearing business and financial risk. It is entered as a percentage. Analysts often estimate it with the capital asset pricing model, using a risk-free rate, an equity beta, and an equity risk premium. A higher cost of equity increases WACC in proportion to the equity weight. Common mistakes include using the historical accounting return on equity or a dividend yield as a full substitute for investors’ required return.\u003c\/p\u003e\n        \u003cp\u003e\u003cstrong\u003eEquity market value\u003c\/strong\u003e is the current value of the company’s common equity. For a listed company, this is usually diluted shares outstanding multiplied by share price, with adjustments where appropriate. For a private company, an estimated fair value may be necessary. Market value is preferred to book equity because WACC aims to weight current economic claims, not historical accounting balances. Enter a nonnegative U.S. dollar amount.\u003c\/p\u003e\n        \u003cp\u003e\u003cstrong\u003ePre-tax cost of debt\u003c\/strong\u003e is the current yield the company would pay on comparable borrowing, not necessarily the average coupon on old debt. A practical estimate may come from traded bond yields, a credit spread over a benchmark rate, or current lender quotes. Increasing this rate raises after-tax debt cost and WACC. The \u003ca href=\"https:\/\/fred.stlouisfed.org\/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eFederal Reserve Economic Data database\u003c\/a\u003e can help users review market interest-rate benchmarks.\u003c\/p\u003e\n        \u003cp\u003e\u003cstrong\u003eDebt market value\u003c\/strong\u003e includes interest-bearing debt used in the capital structure. Public bonds can be valued at market prices; private loans are often approximated by book value when their rates are close to current market rates. Avoid including operating liabilities such as ordinary trade payables unless your valuation framework explicitly treats them as financing.\u003c\/p\u003e\n        \u003cp\u003e\u003cstrong\u003eCorporate tax rate\u003c\/strong\u003e estimates the marginal rate applicable to deductible interest. It reduces the debt component because interest expense may create a tax shield. Use a rate that reflects the company’s expected taxable position and jurisdiction rather than automatically using a recent effective tax rate. The \u003ca href=\"https:\/\/www.irs.gov\/businesses\/corporations\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eIRS corporate information portal\u003c\/a\u003e is an authoritative starting point for U.S. federal corporate tax topics. A company with persistent tax losses may not realize the full shield immediately.\u003c\/p\u003e\n      \u003c\/div\u003e\n\n      \u003cdiv class=\"wacc-education-block\"\u003e\n        \u003ch3\u003eHow the formula works\u003c\/h3\u003e\n        \u003cp\u003eThe calculator first adds equity and debt to obtain total capital. Equity weight equals equity divided by total capital; debt weight equals debt divided by total capital. After-tax debt cost equals the pre-tax debt cost multiplied by one minus the corporate tax rate. WACC is then the equity weight multiplied by the cost of equity, plus the debt weight multiplied by the after-tax cost of debt.\u003c\/p\u003e\n        \u003cdiv class=\"wacc-callout\"\u003e\u003cp\u003e\u003cstrong\u003eWACC = E \/ (E + D) × Cost of equity + D \/ (E + D) × Cost of debt × (1 − Tax rate)\u003c\/strong\u003e\u003c\/p\u003e\u003c\/div\u003e\n        \u003cp\u003eThe primary result is shown as an annual percentage. The equity and debt contribution cards express how many percentage points each source adds to WACC. Those two contributions sum exactly to the headline WACC. The after-tax debt cost card shows the debt rate after the modeled tax shield; the tax-shield line shows the percentage-point reduction from the pre-tax rate.\u003c\/p\u003e\n      \u003c\/div\u003e\n\n      \u003cdiv class=\"wacc-education-block\"\u003e\n        \u003ch3\u003eHow to read the charts and tables\u003c\/h3\u003e\n        \u003cp\u003eThe capital-structure donut shows the market-value shares of equity and debt. It does not show which source is “better”; it simply visualizes the weighting used in the calculation. The WACC-contribution detail table separates market value, weight, input cost, after-tax cost, and contribution so you can cross-foot the result.\u003c\/p\u003e\n        \u003cp\u003eThe sensitivity line changes debt weight from 0% to 100% while holding the cost of equity, pre-tax debt cost, and tax rate constant. The highlighted point marks the current capital mix. If after-tax debt cost is below the cost of equity, the line slopes downward. That mechanical result should not be interpreted as proof that maximum debt minimizes the company’s true cost of capital: additional leverage can increase default risk, borrowing spreads, and the required return on equity.\u003c\/p\u003e\n        \u003cp\u003eThe sensitivity table provides exact values at selected debt weights and includes the current mix. Use it to understand arithmetic exposure, then supplement it with scenario-specific component costs when evaluating a real financing plan.\u003c\/p\u003e\n      \u003c\/div\u003e\n\n      \u003cdiv class=\"wacc-education-block\"\u003e\n        \u003ch3\u003ePractical interpretation and common mistakes\u003c\/h3\u003e\n        \u003cp\u003eA project expected to earn more than WACC may create value if its cash flows, risk, and measurement basis are comparable to the company used to estimate the rate. A return below WACC may fail to compensate capital providers. In valuation, WACC is generally paired with unlevered free cash flow; equity cash flow requires a cost-of-equity discount rate instead. The \u003ca href=\"https:\/\/www.sec.gov\/edgar\/search\/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eSEC EDGAR database\u003c\/a\u003e provides filings that can support market-value debt, share-count, interest-expense, and tax research for U.S. public companies.\u003c\/p\u003e\n        \u003cul\u003e\n          \u003cli\u003eDo not mix book-value equity with market-value debt when reliable market values are available.\u003c\/li\u003e\n          \u003cli\u003eDo not use a project WACC that is lower than the company rate merely to make a project pass; riskier projects generally require a higher hurdle rate.\u003c\/li\u003e\n          \u003cli\u003eDo not apply the tax shield when the company is unlikely to use interest deductions within the relevant period.\u003c\/li\u003e\n          \u003cli\u003eDo not assume component costs remain constant across major leverage changes.\u003c\/li\u003e\n          \u003cli\u003eDo not round intermediate weights or contributions; round only the displayed result.\u003c\/li\u003e\n        \u003c\/ul\u003e\n        \u003cp\u003eFor broader conceptual background, the \u003ca href=\"https:\/\/www.investopedia.com\/terms\/w\/wacc.asp\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eInvestopedia WACC overview\u003c\/a\u003e explains common uses and limitations. For rigorous work, document the source date and rationale for every assumption, compare against industry and transaction evidence, and refresh the rate when markets or the capital structure change materially.\u003c\/p\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n  \u003c\/div\u003e\n\u003c\/div\u003e","brand":"FinancialModelsLab","offers":[{"title":"Default Title","offer_id":49909484454131,"sku":"wacc","price":0.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/6191\/2762\/files\/wacc.webp?v=1783935443","url":"https:\/\/financialmodelslab.com\/products\/wacc","provider":"Financial Models Lab","version":"1.0","type":"link"}