公司理财第十二章 WACC 及公司评估.pptVIP

Topics Covered Geothermal’s Cost of Capital Weighted Average Cost of Capital (WACC) Measuring Capital Structure Calculating Required Rates of Return Calculating WACC Interpreting WACC Valuing Entire Businesses Cost of Capital Cost of Capital - The return the firm’s investors could expect to earn if they invested in securities with comparable degrees of risk. Capital Structure - The firm’s mix of long term debt financing and equity financing. （which is only part of its financial structure.） Cost of Capital The cost of capital for an all-equity financed firm owning all the stock is the same