CAPM Calculator

Calculate the expected return of an investment based on systemic risk and risk-free rates.

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Calculation Parameters

Specify your inputs below.

Calculated Result

Market Risk Premium 5.50%
Expected Return (CAPM) 10.88%
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Expert Tip

The CAPM model determines whether an asset is priced fairly based on its systematic market risk beta.

How this Calculator Works

This calculator estimates the expected return of an asset using the Capital Asset Pricing Model (CAPM). It links the asset's risk (represented by Beta) to the expected market return and the risk-free rate of return. Portfolio managers use it to determine hurdle rates for equity investments.

Formula & Methodology

Expected Return = Risk-Free Rate + Beta * (Market Return - Risk-Free Rate) - Risk-Free Rate is the yield on riskless assets (e.g. government treasury bonds). - Beta is the stock's systemic risk coefficient. - Market Return is the expected long-term annualized return of the stock market.

Step-by-Step Calculation Example

Here is a step-by-step example showing how the calculations are performed:

An investor evaluates a stock with a Beta of 1.2. The risk-free rate is 3%, and the expected market return is 10%. 1. Calculate market risk premium: 10% - 3% = 7%. 2. Multiply by Beta: 1.2 * 7% = 8.4%. 3. Add the risk-free rate: 3% + 8.4% = 11.4%. Result: The expected rate of return for the stock is 11.4%.

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Detailed Insights & Expert Guide

โ„น๏ธ About this Calculation

This equity research and valuation calculator evaluates corporate fundamentals, stock price multiples, cost of capital, dividend discount models, and shareholder return metrics based on SEC financial reporting and Wall Street equity analysis standards.

Variable Glossary

Input

Equity Inputs

Share price, earnings per share (EPS), dividend amount, book value, debt/equity ratio, or systematic beta coefficient.

Parameter

Valuation Output

Price-to-Earnings (P/E), EV/EBITDA multiple, Intrinsic Value ($), WACC %, or Return on Equity (ROE %).

How to Calculate Step-by-Step

1

Step 1

Input current stock price, shares outstanding, or balance sheet / income statement numbers.

2

Step 2

Enter expected growth rate, cost of equity, or market risk premium assumptions.

3

Step 3

Review calculated valuation multiples, margin of safety comparison, or required rate of return.

FAQ

What is WACC and why is it crucial for equity valuation?
Weighted Average Cost of Capital (WACC) represents a company's required average return on debt and equity capital. It is used as the hurdle rate to discount future cash flows in DCF valuation models.
How does stock Beta measure systematic risk?
A stock beta of 1.0 means price volatility matches the broader market index. Beta > 1.0 indicates higher volatility, while Beta < 1.0 reflects lower systematic volatility.
Should valuation multiples be evaluated in isolation?
No. Valuation ratios (P/E, EV/EBITDA, P/B) should always be benchmarked against industry peer groups, historical trading averages, and expected earnings growth (PEG ratio).