2017 Valuation Handbook – U.S. Industry Cost of Capital

EVERYTHING YOU NEED FOR A ACCURATE COST OF CAPITAL ESTIMATIONS AT THE INDUSTRY LEVEL—IN A SINGLE VOLUME

The 2017 Valuation Handbook – U.S. Industry Cost of Capital is part of the annually updated "Valuation Handbook" series of U.S. and international valuation data and industry statistics resources authored by Duff & Phelps and published by John Wiley & Sons. This invaluable reference provides business valuation and finance professionals with the critical data they need to measure company risk and cost of capital.

Gauging the risks of an investment is one of the trickiest aspects of finance. This comprehensive guidebook gives you U.S. industry–level cost of capital estimates, levered and unlevered betas, and a host of detailed industry–level statistics that can be used for benchmarking purposes, along with the ability to:

Turn to a definitive resource of world–class cost of capital data and guidance to gain a distinct competitive advantage in real–world situations. Use the most up–to–date cost of capital and industry data available. Benchmark, augment, and provide additional support for your own custom cost of capital and industry analysis.

Accurate. Reliable. Trusted. The 2017 Valuation Handbook – U.S. Industry Cost of Capital gives you an upper hand the moment you open it.

Other volumes in the annual series include:

2017 Valuation Handbook – U.S. Guide to Cost of Capital 2017 Valuation Handbook – International Guide to Cost of Capital 2017 Valuation Handbook – International Industry Cost of Capital

Acknowledgements xiii

Introduction 1

Methodology 5

Calculations of Industry Financial Statistics 24

Appendices

Industry Data Exhibits

Roger J. Grabowski is a managing director with Duff & Phelps. He is coauthor of Cost of Capital – Applications and Examples, Fifth Edition, The Lawyer′s Guide to Cost of Capital, and Cost of Capital in Litigation.

James P. Harrington is a director at Duff & Phelps. He is a leading contributor to Duff & Phelps′ efforts in the development of studies, surveys, online content and tools, firm–wide valuation models, data distribution platforms, and published thought leadership. He is a coauthor of the Duff & Phelps "Valuation Handbook" series, a contributing author to Cost of Capital – Applications and Examples, Fifth Edition, and a Duff & Phelps contributor to the Stocks, Bonds, Bills, and Inflation (SBBI) Yearbook.

Carla S. Nunes is a managing director in the Office of Professional Practice at Duff & Phelps, where she provides firm–wide technical guidance on a variety of valuation, financial reporting, and tax issues, with a particular focus on cost of capital. She is a coauthor of the Duff & Phelps "Valuation Handbook" series and a contributing author to Cost of Capital – Applications and Examples, Fifth Edition.