Q: What is International Business Machines Corporation's WACC?

International Business Machines Corporation (IBM) has a Weighted Average Cost of Capital (WACC) of 6.58%. This is calculated using a Cost of Equity of 7.53% (via CAPM with a beta of 0.64) and a pre-tax Cost of Debt of 3.12%, with an equity weight of 81.24% in the capital structure.

Q: Is International Business Machines Corporation's WACC high or low?

International Business Machines Corporation's WACC of 6.58% is below the typical range of 8-12% for most companies, indicating relatively low cost of capital and lower risk. WACC is used as the discount rate in DCF valuations — a lower WACC results in higher present values of future cash flows.

Q: How is International Business Machines Corporation's WACC calculated?

International Business Machines Corporation's WACC is calculated using the formula: WACC = (E/V × Re) + (D/V × Rd × (1-T)). The Cost of Equity (Re) of 7.53% is derived from the CAPM model using a beta of 0.64. The pre-tax Cost of Debt (Rd) is 3.12%. The capital structure is 81.24% equity and 18.76% debt.

Question 1

What is International Business Machines Corporation's WACC?

Accepted Answer

International Business Machines Corporation（IBM） WACC 解读

International Business Machines Corporation（IBM）当前估算的 WACC 为 6.58%。其中股权成本为 7.53%，税前债务成本为 3.12%，股权权重为 81.24%。这个折现率可以直接作为 DCF 估值和资本结构判断的起点。

处于相对较低区间，通常意味着资本成本较低、估值折现压力更小。

Question 2

Is International Business Machines Corporation's WACC high or low?

Accepted Answer

International Business Machines Corporation（IBM） WACC 解读

International Business Machines Corporation（IBM）当前估算的 WACC 为 6.58%。其中股权成本为 7.53%，税前债务成本为 3.12%，股权权重为 81.24%。这个折现率可以直接作为 DCF 估值和资本结构判断的起点。

处于相对较低区间，通常意味着资本成本较低、估值折现压力更小。

Question 3

How is International Business Machines Corporation's WACC calculated?

Accepted Answer

International Business Machines Corporation（IBM） WACC 解读

International Business Machines Corporation（IBM）当前估算的 WACC 为 6.58%。其中股权成本为 7.53%，税前债务成本为 3.12%，股权权重为 81.24%。这个折现率可以直接作为 DCF 估值和资本结构判断的起点。

处于相对较低区间，通常意味着资本成本较低、估值折现压力更小。

International Business Machines Corporation (IBM) — WACC 分析

WACC 构成

解读

International Business Machines Corporation（IBM）WACC：6.58%

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International Business Machines Corporation（IBM） WACC 解读

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