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Aswath Damodaran January 2026 U.S. cost of capital dataset. Third-party list posts can help discover candidates, but they do not qualify as the final source for a retained row.
Damodaran Sector Cost of Capital and WACC
January 2026 U.S. industry averages for beta, cost of equity, debt ratios, cost of debt, tax rates, and weighted average cost of capital.
96verified rowsJuly 29, 2026last checkedYearlyrefresh schedule
| # | Industry | Firms | Beta | Cost of equity | Equity weight | Cost of debt | Tax rate | After-tax cost of debt | Debt weight | WACC | Official source | Checked |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 01 | Advertising | 52 | 1.21 | 9.35 | 71.33 | 5.29 | 5.02 | 3.97 | 28.67 | 7.81 | Open source ↗ | 2026-07-29 |
| 02 | Aerospace/Defense | 79 | 0.95 | 8.17 | 86.53 | 5.29 | 11.58 | 3.97 | 13.47 | 7.60 | Open source ↗ | 2026-07-29 |
| 03 | Air Transport | 23 | 1.19 | 9.24 | 52.31 | 5.29 | 8.29 | 3.97 | 47.69 | 6.72 | Open source ↗ | 2026-07-29 |
| 04 | Apparel | 35 | 0.94 | 8.12 | 76.17 | 5.29 | 9.61 | 3.97 | 23.83 | 7.13 | Open source ↗ | 2026-07-29 |
| 05 | Auto & Truck | 33 | 1.46 | 10.45 | 83.55 | 5.29 | 3.74 | 3.97 | 16.45 | 9.38 | Open source ↗ | 2026-07-29 |
| 06 | Auto Parts | 35 | 1.34 | 9.92 | 70.69 | 5.29 | 15.00 | 3.97 | 29.31 | 8.18 | Open source ↗ | 2026-07-29 |
| 07 | Bank (Money Center) | 15 | 0.76 | 7.34 | 37.85 | 4.73 | 18.43 | 3.55 | 62.15 | 4.98 | Open source ↗ | 2026-07-29 |
| 08 | Banks (Regional) | 568 | 0.40 | 5.73 | 65.75 | 4.73 | 17.61 | 3.55 | 34.25 | 4.98 | Open source ↗ | 2026-07-29 |
| 09 | Beverage (Alcoholic) | 14 | 0.81 | 7.57 | 69.76 | 5.29 | 12.35 | 3.97 | 30.24 | 6.48 | Open source ↗ | 2026-07-29 |
| 10 | Beverage (Soft) | 27 | 0.64 | 6.81 | 82.93 | 5.29 | 6.85 | 3.97 | 17.07 | 6.33 | Open source ↗ | 2026-07-29 |
| 11 | Broadcasting | 24 | 0.47 | 6.05 | 53.81 | 5.29 | 7.73 | 3.97 | 46.19 | 5.09 | Open source ↗ | 2026-07-29 |
| 12 | Brokerage & Investment Banking | 32 | 1.17 | 9.17 | 42.45 | 5.07 | 15.27 | 3.80 | 57.55 | 6.08 | Open source ↗ | 2026-07-29 |
| 13 | Building Materials | 41 | 1.11 | 8.91 | 79.37 | 5.07 | 18.02 | 3.80 | 20.63 | 7.85 | Open source ↗ | 2026-07-29 |
| 14 | Business & Consumer Services | 155 | 0.89 | 7.91 | 83.53 | 5.07 | 10.38 | 3.80 | 16.47 | 7.23 | Open source ↗ | 2026-07-29 |
| 15 | Cable TV | 9 | 0.74 | 7.25 | 40.50 | 5.07 | 10.64 | 3.80 | 59.50 | 5.20 | Open source ↗ | 2026-07-29 |
| 16 | Chemical (Basic) | 29 | 1.01 | 8.46 | 50.16 | 5.29 | 7.68 | 3.97 | 49.84 | 6.22 | Open source ↗ | 2026-07-29 |
| 17 | Chemical (Diversified) | 4 | 0.85 | 7.74 | 36.22 | 5.07 | 0.00 | 3.80 | 63.78 | 5.23 | Open source ↗ | 2026-07-29 |
| 18 | Chemical (Specialty) | 59 | 0.97 | 8.28 | 76.99 | 5.07 | 13.68 | 3.80 | 23.01 | 7.25 | Open source ↗ | 2026-07-29 |
| 19 | Coal & Related Energy | 16 | 1.07 | 8.73 | 93.33 | 5.29 | 3.13 | 3.97 | 6.67 | 8.41 | Open source ↗ | 2026-07-29 |
| 20 | Computer Services | 64 | 1.09 | 8.80 | 79.94 | 5.29 | 10.53 | 3.97 | 20.06 | 7.83 | Open source ↗ | 2026-07-29 |
| 21 | Computers/Peripherals | 36 | 1.35 | 9.97 | 95.58 | 5.29 | 5.91 | 3.97 | 4.42 | 9.71 | Open source ↗ | 2026-07-29 |
| 22 | Construction Supplies | 40 | 1.15 | 9.08 | 85.02 | 5.07 | 16.04 | 3.80 | 14.98 | 8.29 | Open source ↗ | 2026-07-29 |
| 23 | Diversified | 20 | 0.88 | 7.88 | 86.54 | 4.73 | 2.76 | 3.55 | 13.46 | 7.30 | Open source ↗ | 2026-07-29 |
| 24 | Drugs (Biotechnology) | 496 | 1.14 | 9.01 | 88.46 | 6.02 | 1.08 | 4.51 | 11.54 | 8.49 | Open source ↗ | 2026-07-29 |
| 25 | Drugs (Pharmaceutical) | 228 | 0.98 | 8.33 | 87.31 | 6.02 | 2.99 | 4.51 | 12.69 | 7.85 | Open source ↗ | 2026-07-29 |
| 26 | Education | 32 | 0.78 | 7.43 | 80.40 | 5.29 | 15.54 | 3.97 | 19.60 | 6.75 | Open source ↗ | 2026-07-29 |
| 27 | Electrical Equipment | 112 | 1.25 | 9.53 | 89.28 | 6.02 | 4.82 | 4.51 | 10.72 | 8.99 | Open source ↗ | 2026-07-29 |
| 28 | Electronics (Consumer & Office) | 8 | 0.87 | 7.81 | 94.51 | 6.02 | 0.00 | 4.51 | 5.49 | 7.63 | Open source ↗ | 2026-07-29 |
| 29 | Electronics (General) | 114 | 0.97 | 8.28 | 90.08 | 5.29 | 8.04 | 3.97 | 9.92 | 7.85 | Open source ↗ | 2026-07-29 |
| 30 | Engineering/Construction | 48 | 1.21 | 9.35 | 87.71 | 5.29 | 13.64 | 3.97 | 12.29 | 8.69 | Open source ↗ | 2026-07-29 |
| 31 | Entertainment | 92 | 0.83 | 7.63 | 86.27 | 5.29 | 3.30 | 3.97 | 13.73 | 7.13 | Open source ↗ | 2026-07-29 |
| 32 | Environmental & Waste Services | 53 | 0.95 | 8.17 | 82.34 | 5.29 | 4.27 | 3.97 | 17.66 | 7.43 | Open source ↗ | 2026-07-29 |
| 33 | Farming/Agriculture | 35 | 1.13 | 8.99 | 65.86 | 5.29 | 6.29 | 3.97 | 34.14 | 7.27 | Open source ↗ | 2026-07-29 |
| 34 | Financial Svcs. (Non-bank & Insurance) | 176 | 0.97 | 8.27 | 26.87 | 5.07 | 12.06 | 3.80 | 73.13 | 5.00 | Open source ↗ | 2026-07-29 |
| 35 | Food Processing | 78 | 0.61 | 6.66 | 69.57 | 5.07 | 10.37 | 3.80 | 30.43 | 5.79 | Open source ↗ | 2026-07-29 |
| 36 | Food Wholesalers | 13 | 0.87 | 7.82 | 68.04 | 5.07 | 9.15 | 3.80 | 31.96 | 6.53 | Open source ↗ | 2026-07-29 |
| 37 | Furn/Home Furnishings | 27 | 0.82 | 7.62 | 70.26 | 5.29 | 11.38 | 3.97 | 29.74 | 6.53 | Open source ↗ | 2026-07-29 |
| 38 | Green & Renewable Energy | 15 | 0.86 | 7.77 | 46.92 | 6.02 | 0.00 | 4.51 | 53.08 | 6.04 | Open source ↗ | 2026-07-29 |
| 39 | Healthcare Products | 204 | 0.91 | 8.00 | 88.66 | 5.29 | 4.85 | 3.97 | 11.34 | 7.54 | Open source ↗ | 2026-07-29 |
| 40 | Healthcare Support Services | 104 | 0.87 | 7.84 | 73.84 | 5.29 | 9.80 | 3.97 | 26.16 | 6.83 | Open source ↗ | 2026-07-29 |
| 41 | Heathcare Information and Technology | 115 | 1.11 | 8.89 | 86.40 | 5.29 | 6.38 | 3.97 | 13.60 | 8.22 | Open source ↗ | 2026-07-29 |
| 42 | Homebuilding | 30 | 0.91 | 8.01 | 82.41 | 5.07 | 16.99 | 3.80 | 17.59 | 7.27 | Open source ↗ | 2026-07-29 |
| 43 | Hospitals/Healthcare Facilities | 31 | 0.80 | 7.52 | 62.53 | 5.29 | 11.35 | 3.97 | 37.47 | 6.19 | Open source ↗ | 2026-07-29 |
| 44 | Hotel/Gaming | 63 | 1.08 | 8.77 | 71.56 | 5.07 | 8.31 | 3.80 | 28.44 | 7.36 | Open source ↗ | 2026-07-29 |
| 45 | Household Products | 110 | 0.82 | 7.59 | 84.64 | 5.29 | 6.50 | 3.97 | 15.36 | 7.03 | Open source ↗ | 2026-07-29 |
| 46 | Information Services | 15 | 0.92 | 8.06 | 75.09 | 5.07 | 18.16 | 3.80 | 24.91 | 7.00 | Open source ↗ | 2026-07-29 |
| 47 | Insurance (General) | 21 | 0.67 | 6.95 | 79.60 | 5.29 | 12.77 | 3.97 | 20.40 | 6.34 | Open source ↗ | 2026-07-29 |
| 48 | Insurance (Life) | 20 | 0.64 | 6.82 | 59.58 | 5.07 | 15.19 | 3.80 | 40.42 | 5.60 | Open source ↗ | 2026-07-29 |
| 49 | Insurance (Prop/Cas.) | 57 | 0.48 | 6.11 | 87.09 | 4.73 | 18.37 | 3.55 | 12.91 | 5.78 | Open source ↗ | 2026-07-29 |
| 50 | Investments & Asset Management | 283 | 0.66 | 6.89 | 75.36 | 5.07 | 3.53 | 3.80 | 24.64 | 6.13 | Open source ↗ | 2026-07-29 |
| 51 | Machinery | 105 | 0.96 | 8.25 | 87.19 | 5.29 | 13.37 | 3.97 | 12.81 | 7.70 | Open source ↗ | 2026-07-29 |
| 52 | Metals & Mining | 73 | 1.04 | 8.60 | 90.10 | 6.02 | 2.52 | 4.51 | 9.90 | 8.20 | Open source ↗ | 2026-07-29 |
| 53 | Office Equipment & Services | 14 | 1.33 | 9.90 | 67.52 | 5.07 | 12.30 | 3.80 | 32.48 | 7.92 | Open source ↗ | 2026-07-29 |
| 54 | Oil/Gas (Integrated) | 4 | 0.30 | 5.29 | 87.84 | 4.73 | 28.24 | 3.55 | 12.16 | 5.07 | Open source ↗ | 2026-07-29 |
| 55 | Oil/Gas (Production and Exploration) | 142 | 0.72 | 7.17 | 72.68 | 5.07 | 6.66 | 3.80 | 27.32 | 6.25 | Open source ↗ | 2026-07-29 |
| 56 | Oil/Gas Distribution | 23 | 0.67 | 6.93 | 63.08 | 5.07 | 9.17 | 3.80 | 36.92 | 5.78 | Open source ↗ | 2026-07-29 |
| 57 | Oilfield Svcs/Equip. | 97 | 0.95 | 8.19 | 72.80 | 5.29 | 8.75 | 3.97 | 27.20 | 7.04 | Open source ↗ | 2026-07-29 |
| 58 | Packaging & Container | 19 | 1.02 | 8.51 | 64.47 | 4.73 | 15.57 | 3.55 | 35.53 | 6.75 | Open source ↗ | 2026-07-29 |
| 59 | Paper/Forest Products | 6 | 0.96 | 8.22 | 69.60 | 5.29 | 8.60 | 3.97 | 30.40 | 6.93 | Open source ↗ | 2026-07-29 |
| 60 | Power | 46 | 0.48 | 6.10 | 57.42 | 4.73 | 12.75 | 3.55 | 42.58 | 5.01 | Open source ↗ | 2026-07-29 |
| 61 | Precious Metals | 56 | 0.84 | 7.68 | 93.21 | 6.02 | 5.97 | 4.51 | 6.79 | 7.47 | Open source ↗ | 2026-07-29 |
| 62 | Publishing & Newspapers | 19 | 0.56 | 6.46 | 80.68 | 5.07 | 10.21 | 3.80 | 19.32 | 5.95 | Open source ↗ | 2026-07-29 |
| 63 | R.E.I.T. | 190 | 0.64 | 6.81 | 54.21 | 4.73 | 1.58 | 3.55 | 45.79 | 5.32 | Open source ↗ | 2026-07-29 |
| 64 | Real Estate (Development) | 14 | 0.84 | 7.71 | 49.55 | 5.29 | 4.91 | 3.97 | 50.45 | 5.82 | Open source ↗ | 2026-07-29 |
| 65 | Real Estate (General/Diversified) | 12 | 0.81 | 7.56 | 65.12 | 5.07 | 4.65 | 3.80 | 34.88 | 6.25 | Open source ↗ | 2026-07-29 |
| 66 | Real Estate (Operations & Services) | 54 | 0.97 | 8.26 | 80.23 | 5.29 | 8.70 | 3.97 | 19.77 | 7.41 | Open source ↗ | 2026-07-29 |
| 67 | Recreation | 49 | 1.02 | 8.51 | 61.35 | 5.29 | 11.45 | 3.97 | 38.65 | 6.76 | Open source ↗ | 2026-07-29 |
| 68 | Reinsurance | 1 | 0.58 | 6.54 | 69.70 | 4.73 | 30.36 | 3.55 | 30.30 | 5.64 | Open source ↗ | 2026-07-29 |
| 69 | Restaurant/Dining | 64 | 0.92 | 8.07 | 78.60 | 5.07 | 9.92 | 3.80 | 21.40 | 7.16 | Open source ↗ | 2026-07-29 |
| 70 | Retail (Automotive) | 34 | 0.94 | 8.12 | 68.80 | 5.07 | 10.77 | 3.80 | 31.20 | 6.78 | Open source ↗ | 2026-07-29 |
| 71 | Retail (Building Supply) | 14 | 1.54 | 10.80 | 81.11 | 5.29 | 11.84 | 3.97 | 18.89 | 9.51 | Open source ↗ | 2026-07-29 |
| 72 | Retail (Distributors) | 62 | 0.95 | 8.18 | 77.98 | 5.07 | 14.59 | 3.80 | 22.02 | 7.22 | Open source ↗ | 2026-07-29 |
| 73 | Retail (General) | 23 | 0.81 | 7.54 | 92.64 | 5.07 | 19.10 | 3.80 | 7.36 | 7.27 | Open source ↗ | 2026-07-29 |
| 74 | Retail (Grocery and Food) | 15 | 1.12 | 8.94 | 65.81 | 5.29 | 12.22 | 3.97 | 34.19 | 7.24 | Open source ↗ | 2026-07-29 |
| 75 | Retail (REITs) | 26 | 0.62 | 6.72 | 63.93 | 4.73 | 1.60 | 3.55 | 36.07 | 5.57 | Open source ↗ | 2026-07-29 |
| 76 | Retail (Special Lines) | 94 | 1.09 | 8.81 | 83.50 | 5.29 | 10.07 | 3.97 | 16.50 | 8.01 | Open source ↗ | 2026-07-29 |
| 77 | Rubber& Tires | 3 | 0.53 | 6.31 | 21.81 | 5.29 | 0.00 | 3.97 | 78.19 | 4.48 | Open source ↗ | 2026-07-29 |
| 78 | Semiconductor | 66 | 1.52 | 10.72 | 97.47 | 5.29 | 5.11 | 3.97 | 2.53 | 10.55 | Open source ↗ | 2026-07-29 |
| 79 | Semiconductor Equip | 31 | 1.40 | 10.18 | 95.36 | 5.29 | 9.96 | 3.97 | 4.64 | 9.89 | Open source ↗ | 2026-07-29 |
| 80 | Shipbuilding & Marine | 8 | 0.75 | 7.31 | 81.60 | 5.29 | 5.26 | 3.97 | 18.40 | 6.69 | Open source ↗ | 2026-07-29 |
| 81 | Shoe | 11 | 1.02 | 8.49 | 89.33 | 5.29 | 11.86 | 3.97 | 10.67 | 8.01 | Open source ↗ | 2026-07-29 |
| 82 | Software (Entertainment) | 77 | 1.03 | 8.54 | 98.00 | 5.29 | 5.29 | 3.97 | 2.00 | 8.44 | Open source ↗ | 2026-07-29 |
| 83 | Software (Internet) | 29 | 1.69 | 11.48 | 89.05 | 5.29 | 3.05 | 3.97 | 10.95 | 10.66 | Open source ↗ | 2026-07-29 |
| 84 | Software (System & Application) | 309 | 1.28 | 9.64 | 94.72 | 5.29 | 5.51 | 3.97 | 5.28 | 9.34 | Open source ↗ | 2026-07-29 |
| 85 | Steel | 19 | 1.06 | 8.69 | 80.96 | 5.07 | 9.28 | 3.80 | 19.04 | 7.76 | Open source ↗ | 2026-07-29 |
| 86 | Telecom (Wireless) | 12 | 0.54 | 6.35 | 65.81 | 5.07 | 4.02 | 3.80 | 34.19 | 5.48 | Open source ↗ | 2026-07-29 |
| 87 | Telecom. Equipment | 57 | 0.92 | 8.07 | 91.56 | 5.29 | 7.06 | 3.97 | 8.44 | 7.72 | Open source ↗ | 2026-07-29 |
| 88 | Telecom. Services | 39 | 0.63 | 6.75 | 51.00 | 5.29 | 3.40 | 3.97 | 49.00 | 5.39 | Open source ↗ | 2026-07-29 |
| 89 | Tobacco | 10 | 0.79 | 7.49 | 81.32 | 6.02 | 14.77 | 4.51 | 18.68 | 6.94 | Open source ↗ | 2026-07-29 |
| 90 | Transportation | 19 | 0.86 | 7.79 | 73.29 | 5.07 | 8.54 | 3.80 | 26.71 | 6.72 | Open source ↗ | 2026-07-29 |
| 91 | Transportation (Railroads) | 4 | 0.98 | 8.30 | 78.25 | 4.73 | 16.98 | 3.55 | 21.75 | 7.27 | Open source ↗ | 2026-07-29 |
| 92 | Trucking | 26 | 1.01 | 8.46 | 79.85 | 5.07 | 12.60 | 3.80 | 20.15 | 7.52 | Open source ↗ | 2026-07-29 |
| 93 | Utility (General) | 14 | 0.24 | 5.02 | 55.10 | 4.73 | 12.77 | 3.55 | 44.90 | 4.36 | Open source ↗ | 2026-07-29 |
| 94 | Utility (Water) | 14 | 0.41 | 5.79 | 61.59 | 4.73 | 11.19 | 3.55 | 38.41 | 4.93 | Open source ↗ | 2026-07-29 |
| 95 | Total Market | 5994 | 0.91 | 8.02 | 73.98 | 5.29 | 8.30 | 3.97 | 26.02 | 6.96 | Open source ↗ | 2026-07-29 |
| 96 | Total Market (without financials) | 4822 | 0.99 | 8.37 | 85.26 | 5.29 | 7.10 | 3.97 | 14.74 | 7.72 | Open source ↗ | 2026-07-29 |
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