0%

估值参数

无风险收益率(rf)

数据地址:中国债券信息网 - 中债收益率

风险溢价(ERP)

Country 国家 GDP (十亿为单位) 穆迪评级 调整后违约利差 股票风险溢价(ERP) 国家风险溢价 企业所得税率
China 中国 13608.15 A1 0.59% 5.89% 0.69% 25.00%

原始的excel文件:下载

Last updated: January 2020

All credits go to Aswath Damodaran.

贝塔系数(beta)

行业名称 企业数量 Average Unlevered Beta Average Levered Beta Average correlation with the market Total Unlevered Beta Total Levered Beta
Advertising 55 1.68 1.76 20.73% 8.11 8.49
Aerospace/Defense 33 1.59 1.58 27.61% 5.77 5.71
Air Transport 17 1.04 1.98 40.38% 2.58 4.91
Apparel 211 1.30 1.42 22.64% 5.76 6.28
Auto & Truck 36 2.15 2.12 33.29% 6.47 6.38
Auto Parts 153 1.71 1.72 29.43% 5.83 5.85
Bank (Money Center) 24 0.97 1.79 51.13% 1.90 3.51
Banks (Regional) 34 0.36 1.31 33.53% 1.07 3.90
Beverage (Alcoholic) 45 2.23 2.09 32.62% 6.83 6.40
Beverage (Soft) 2 0.26 0.39 4.74% 5.53 8.33
Broadcasting 8 1.97 1.84 25.01% 7.89 7.35
Brokerage & Investment Banking 97 1.24 2.22 32.47% 3.81 6.85
Building Materials 49 1.92 2.01 32.24% 5.96 6.22
Business & Consumer Services 102 1.35 1.38 20.81% 6.51 6.62
Cable TV 12 2.02 1.86 31.40% 6.42 5.92
Chemical (Basic) 213 1.48 1.69 29.65% 4.99 5.69
Chemical (Diversified) 9 1.99 2.05 34.30% 5.80 5.98
Chemical (Specialty) 177 1.50 1.68 30.44% 4.94 5.52
Coal & Related Energy 47 1.60 1.86 29.14% 5.47 6.39
Computer Services 115 1.46 1.57 21.52% 6.77 7.29
Computers/Peripherals 51 1.69 1.87 24.52% 6.90 7.61
Construction Supplies 125 1.88 2.02 34.45% 5.47 5.87
Diversified 19 0.61 1.67 35.18% 1.73 4.76
Drugs (Biotechnology) 57 1.48 1.46 24.49% 6.06 5.94
Drugs (Pharmaceutical) 227 1.74 1.76 29.15% 5.97 6.02
Education 37 1.99 1.95 24.08% 8.28 8.08
Electrical Equipment 253 1.70 1.72 29.39% 5.79 5.84
Electronics (Consumer & Office) 33 1.60 1.84 26.67% 6.00 6.90
Electronics (General) 312 1.65 1.67 26.43% 6.23 6.30
Engineering/Construction 222 1.01 1.61 25.80% 3.93 6.25
Entertainment 110 1.60 1.66 24.16% 6.62 6.87
Environmental & Waste Services 78 1.35 1.68 24.93% 5.40 6.72
Farming/Agriculture 58 1.15 1.33 18.33% 6.29 7.25
Financial Svcs. (Non-bank & Insurance) 81 0.94 1.57 21.37% 4.41 7.36
Food Processing 158 1.58 1.58 24.77% 6.36 6.39
Food Wholesalers 17 1.65 1.85 17.19% 9.62 10.76
Furn/Home Furnishings 80 1.89 1.68 30.08% 6.27 5.60
Green & Renewable Energy 34 0.90 1.43 28.79% 3.13 4.96
Healthcare Products 66 1.74 1.70 26.07% 6.67 6.54
Healthcare Support Services 55 1.28 1.48 25.89% 4.95 5.73
Heathcare Information and Technology 24 2.17 2.13 26.83% 8.10 7.94
Homebuilding 3 0.43 0.46 26.46% 1.64 1.72
Hospitals/Healthcare Facilities 19 1.46 1.63 19.44% 7.49 8.38
Hotel/Gaming 88 1.40 1.69 29.65% 4.73 5.70
Household Products 65 1.55 1.55 21.07% 7.36 7.35
Information Services 8 1.91 1.66 29.02% 6.58 5.71
Insurance (General) 5 1.44 1.69 24.91% 5.77 6.78
Insurance (Life) 7 2.03 2.61 48.75% 4.17 5.36
Insurance (Prop/Cas.) 4 2.24 2.56 38.16% 5.86 6.70
Investments & Asset Management 51 0.15 1.31 15.82% 0.95 8.26
Machinery 311 1.62 1.70 29.38% 5.53 5.79
Metals & Mining 109 1.38 1.79 30.53% 4.51 5.86
Office Equipment & Services 13 1.17 1.13 19.28% 6.09 5.87
Oil/Gas (Integrated) 5 1.48 2.33 43.77% 3.38 5.32
Oil/Gas (Production and Exploration) 20 1.18 1.43 17.53% 6.74 8.18
Oil/Gas Distribution 21 1.14 1.67 24.61% 4.65 6.78
Oilfield Svcs/Equip. 55 1.87 1.93 28.40% 6.57 6.78
Packaging & Container 56 1.36 1.43 25.30% 5.36 5.64
Paper/Forest Products 51 1.28 1.70 29.09% 4.41 5.84
Power 93 1.00 1.69 31.48% 3.18 5.38
Precious Metals 24 1.27 1.52 17.36% 7.33 8.76
Publishing & Newspapers 62 2.04 1.69 25.58% 7.97 6.61
R.E.I.T. 10 0.78 0.95 33.45% 2.32 2.83
Real Estate (Development) 231 1.13 1.98 33.94% 3.33 5.82
Real Estate (General/Diversified) 70 1.27 1.84 35.86% 3.54 5.14
Real Estate (Operations & Services) 95 1.14 1.45 23.43% 4.87 6.19
Recreation 54 1.18 1.45 24.22% 4.85 5.98
Reinsurance 1 1.38 1.80 44.83% 3.08 4.02
Restaurant/Dining 46 1.31 1.43 19.26% 6.83 7.44
Retail (Automotive) 26 1.48 2.32 28.40% 5.20 8.16
Retail (Building Supply) 8 2.60 2.60 24.95% 10.41 10.42
Retail (Distributors) 156 1.21 1.57 23.04% 5.25 6.80
Retail (General) 64 1.22 1.58 33.42% 3.65 4.74
Retail (Grocery and Food) 25 1.06 1.48 20.66% 5.15 7.18
Retail (Online) 20 1.99 1.94 24.33% 8.16 7.98
Retail (Special Lines) 57 1.30 1.61 22.90% 5.66 7.01
Rubber& Tires 14 1.56 1.71 29.10% 5.37 5.89
Semiconductor 87 1.55 1.60 23.39% 6.61 6.84
Semiconductor Equip 16 1.52 1.87 30.99% 4.92 6.03
Shipbuilding & Marine 54 1.22 1.82 33.63% 3.63 5.40
Shoe 20 0.95 1.01 16.57% 5.74 6.09
Software (Entertainment) 26 1.82 1.83 25.42% 7.15 7.19
Software (Internet) 12 1.53 1.64 24.59% 6.21 6.68
Software (System & Application) 133 2.09 2.01 25.00% 8.35 8.05
Steel 97 1.30 1.61 28.70% 4.55 5.60
Telecom (Wireless) 7 1.11 1.31 29.33% 3.79 4.46
Telecom. Equipment 119 1.67 1.69 25.05% 6.66 6.75
Telecom. Services 16 1.06 1.54 24.23% 4.38 6.35
Tobacco 0 NA 0.00 0.00% NA NA
Transportation 67 1.53 1.87 33.66% 4.56 5.57
Transportation (Railroads) 7 1.71 1.77 42.12% 4.05 4.21
Trucking 18 1.26 1.54 29.81% 4.22 5.15
Utility (General) 4 1.39 1.86 41.58% 3.35 4.48
Utility (Water) 33 1.22 1.65 33.60% 3.64 4.90
Total Market 6199 1.25 1.69 27.54% 4.56 6.15
Total Market (without financials) 5896 1.40 1.69 27.49% 5.11 6.15

原始的excel文件:下载

Last updated: January 2020

All credits go to Aswath Damodaran.