无风险收益率（rf）
数据地址：中国债券信息网 - 中债收益率
风险溢价(ERP)
| Country | 国家 | GDP (十亿为单位) | 穆迪评级 | 调整后违约利差 | 股票风险溢价(ERP) | 国家风险溢价 | 企业所得税率 |
|---|---|---|---|---|---|---|---|
| China | 中国 | 13608.15 | A1 | 0.59% | 5.89% | 0.69% | 25.00% |
原始的excel文件：下载
Last updated: January 2020
All credits go to Aswath Damodaran.
贝塔系数（beta）
| 行业名称 | 企业数量 | Average Unlevered Beta | Average Levered Beta | Average correlation with the market | Total Unlevered Beta | Total Levered Beta |
|---|---|---|---|---|---|---|
| Advertising | 55 | 1.68 | 1.76 | 20.73% | 8.11 | 8.49 |
| Aerospace/Defense | 33 | 1.59 | 1.58 | 27.61% | 5.77 | 5.71 |
| Air Transport | 17 | 1.04 | 1.98 | 40.38% | 2.58 | 4.91 |
| Apparel | 211 | 1.30 | 1.42 | 22.64% | 5.76 | 6.28 |
| Auto & Truck | 36 | 2.15 | 2.12 | 33.29% | 6.47 | 6.38 |
| Auto Parts | 153 | 1.71 | 1.72 | 29.43% | 5.83 | 5.85 |
| Bank (Money Center) | 24 | 0.97 | 1.79 | 51.13% | 1.90 | 3.51 |
| Banks (Regional) | 34 | 0.36 | 1.31 | 33.53% | 1.07 | 3.90 |
| Beverage (Alcoholic) | 45 | 2.23 | 2.09 | 32.62% | 6.83 | 6.40 |
| Beverage (Soft) | 2 | 0.26 | 0.39 | 4.74% | 5.53 | 8.33 |
| Broadcasting | 8 | 1.97 | 1.84 | 25.01% | 7.89 | 7.35 |
| Brokerage & Investment Banking | 97 | 1.24 | 2.22 | 32.47% | 3.81 | 6.85 |
| Building Materials | 49 | 1.92 | 2.01 | 32.24% | 5.96 | 6.22 |
| Business & Consumer Services | 102 | 1.35 | 1.38 | 20.81% | 6.51 | 6.62 |
| Cable TV | 12 | 2.02 | 1.86 | 31.40% | 6.42 | 5.92 |
| Chemical (Basic) | 213 | 1.48 | 1.69 | 29.65% | 4.99 | 5.69 |
| Chemical (Diversified) | 9 | 1.99 | 2.05 | 34.30% | 5.80 | 5.98 |
| Chemical (Specialty) | 177 | 1.50 | 1.68 | 30.44% | 4.94 | 5.52 |
| Coal & Related Energy | 47 | 1.60 | 1.86 | 29.14% | 5.47 | 6.39 |
| Computer Services | 115 | 1.46 | 1.57 | 21.52% | 6.77 | 7.29 |
| Computers/Peripherals | 51 | 1.69 | 1.87 | 24.52% | 6.90 | 7.61 |
| Construction Supplies | 125 | 1.88 | 2.02 | 34.45% | 5.47 | 5.87 |
| Diversified | 19 | 0.61 | 1.67 | 35.18% | 1.73 | 4.76 |
| Drugs (Biotechnology) | 57 | 1.48 | 1.46 | 24.49% | 6.06 | 5.94 |
| Drugs (Pharmaceutical) | 227 | 1.74 | 1.76 | 29.15% | 5.97 | 6.02 |
| Education | 37 | 1.99 | 1.95 | 24.08% | 8.28 | 8.08 |
| Electrical Equipment | 253 | 1.70 | 1.72 | 29.39% | 5.79 | 5.84 |
| Electronics (Consumer & Office) | 33 | 1.60 | 1.84 | 26.67% | 6.00 | 6.90 |
| Electronics (General) | 312 | 1.65 | 1.67 | 26.43% | 6.23 | 6.30 |
| Engineering/Construction | 222 | 1.01 | 1.61 | 25.80% | 3.93 | 6.25 |
| Entertainment | 110 | 1.60 | 1.66 | 24.16% | 6.62 | 6.87 |
| Environmental & Waste Services | 78 | 1.35 | 1.68 | 24.93% | 5.40 | 6.72 |
| Farming/Agriculture | 58 | 1.15 | 1.33 | 18.33% | 6.29 | 7.25 |
| Financial Svcs. (Non-bank & Insurance) | 81 | 0.94 | 1.57 | 21.37% | 4.41 | 7.36 |
| Food Processing | 158 | 1.58 | 1.58 | 24.77% | 6.36 | 6.39 |
| Food Wholesalers | 17 | 1.65 | 1.85 | 17.19% | 9.62 | 10.76 |
| Furn/Home Furnishings | 80 | 1.89 | 1.68 | 30.08% | 6.27 | 5.60 |
| Green & Renewable Energy | 34 | 0.90 | 1.43 | 28.79% | 3.13 | 4.96 |
| Healthcare Products | 66 | 1.74 | 1.70 | 26.07% | 6.67 | 6.54 |
| Healthcare Support Services | 55 | 1.28 | 1.48 | 25.89% | 4.95 | 5.73 |
| Heathcare Information and Technology | 24 | 2.17 | 2.13 | 26.83% | 8.10 | 7.94 |
| Homebuilding | 3 | 0.43 | 0.46 | 26.46% | 1.64 | 1.72 |
| Hospitals/Healthcare Facilities | 19 | 1.46 | 1.63 | 19.44% | 7.49 | 8.38 |
| Hotel/Gaming | 88 | 1.40 | 1.69 | 29.65% | 4.73 | 5.70 |
| Household Products | 65 | 1.55 | 1.55 | 21.07% | 7.36 | 7.35 |
| Information Services | 8 | 1.91 | 1.66 | 29.02% | 6.58 | 5.71 |
| Insurance (General) | 5 | 1.44 | 1.69 | 24.91% | 5.77 | 6.78 |
| Insurance (Life) | 7 | 2.03 | 2.61 | 48.75% | 4.17 | 5.36 |
| Insurance (Prop/Cas.) | 4 | 2.24 | 2.56 | 38.16% | 5.86 | 6.70 |
| Investments & Asset Management | 51 | 0.15 | 1.31 | 15.82% | 0.95 | 8.26 |
| Machinery | 311 | 1.62 | 1.70 | 29.38% | 5.53 | 5.79 |
| Metals & Mining | 109 | 1.38 | 1.79 | 30.53% | 4.51 | 5.86 |
| Office Equipment & Services | 13 | 1.17 | 1.13 | 19.28% | 6.09 | 5.87 |
| Oil/Gas (Integrated) | 5 | 1.48 | 2.33 | 43.77% | 3.38 | 5.32 |
| Oil/Gas (Production and Exploration) | 20 | 1.18 | 1.43 | 17.53% | 6.74 | 8.18 |
| Oil/Gas Distribution | 21 | 1.14 | 1.67 | 24.61% | 4.65 | 6.78 |
| Oilfield Svcs/Equip. | 55 | 1.87 | 1.93 | 28.40% | 6.57 | 6.78 |
| Packaging & Container | 56 | 1.36 | 1.43 | 25.30% | 5.36 | 5.64 |
| Paper/Forest Products | 51 | 1.28 | 1.70 | 29.09% | 4.41 | 5.84 |
| Power | 93 | 1.00 | 1.69 | 31.48% | 3.18 | 5.38 |
| Precious Metals | 24 | 1.27 | 1.52 | 17.36% | 7.33 | 8.76 |
| Publishing & Newspapers | 62 | 2.04 | 1.69 | 25.58% | 7.97 | 6.61 |
| R.E.I.T. | 10 | 0.78 | 0.95 | 33.45% | 2.32 | 2.83 |
| Real Estate (Development) | 231 | 1.13 | 1.98 | 33.94% | 3.33 | 5.82 |
| Real Estate (General/Diversified) | 70 | 1.27 | 1.84 | 35.86% | 3.54 | 5.14 |
| Real Estate (Operations & Services) | 95 | 1.14 | 1.45 | 23.43% | 4.87 | 6.19 |
| Recreation | 54 | 1.18 | 1.45 | 24.22% | 4.85 | 5.98 |
| Reinsurance | 1 | 1.38 | 1.80 | 44.83% | 3.08 | 4.02 |
| Restaurant/Dining | 46 | 1.31 | 1.43 | 19.26% | 6.83 | 7.44 |
| Retail (Automotive) | 26 | 1.48 | 2.32 | 28.40% | 5.20 | 8.16 |
| Retail (Building Supply) | 8 | 2.60 | 2.60 | 24.95% | 10.41 | 10.42 |
| Retail (Distributors) | 156 | 1.21 | 1.57 | 23.04% | 5.25 | 6.80 |
| Retail (General) | 64 | 1.22 | 1.58 | 33.42% | 3.65 | 4.74 |
| Retail (Grocery and Food) | 25 | 1.06 | 1.48 | 20.66% | 5.15 | 7.18 |
| Retail (Online) | 20 | 1.99 | 1.94 | 24.33% | 8.16 | 7.98 |
| Retail (Special Lines) | 57 | 1.30 | 1.61 | 22.90% | 5.66 | 7.01 |
| Rubber& Tires | 14 | 1.56 | 1.71 | 29.10% | 5.37 | 5.89 |
| Semiconductor | 87 | 1.55 | 1.60 | 23.39% | 6.61 | 6.84 |
| Semiconductor Equip | 16 | 1.52 | 1.87 | 30.99% | 4.92 | 6.03 |
| Shipbuilding & Marine | 54 | 1.22 | 1.82 | 33.63% | 3.63 | 5.40 |
| Shoe | 20 | 0.95 | 1.01 | 16.57% | 5.74 | 6.09 |
| Software (Entertainment) | 26 | 1.82 | 1.83 | 25.42% | 7.15 | 7.19 |
| Software (Internet) | 12 | 1.53 | 1.64 | 24.59% | 6.21 | 6.68 |
| Software (System & Application) | 133 | 2.09 | 2.01 | 25.00% | 8.35 | 8.05 |
| Steel | 97 | 1.30 | 1.61 | 28.70% | 4.55 | 5.60 |
| Telecom (Wireless) | 7 | 1.11 | 1.31 | 29.33% | 3.79 | 4.46 |
| Telecom. Equipment | 119 | 1.67 | 1.69 | 25.05% | 6.66 | 6.75 |
| Telecom. Services | 16 | 1.06 | 1.54 | 24.23% | 4.38 | 6.35 |
| Tobacco | 0 | NA | 0.00 | 0.00% | NA | NA |
| Transportation | 67 | 1.53 | 1.87 | 33.66% | 4.56 | 5.57 |
| Transportation (Railroads) | 7 | 1.71 | 1.77 | 42.12% | 4.05 | 4.21 |
| Trucking | 18 | 1.26 | 1.54 | 29.81% | 4.22 | 5.15 |
| Utility (General) | 4 | 1.39 | 1.86 | 41.58% | 3.35 | 4.48 |
| Utility (Water) | 33 | 1.22 | 1.65 | 33.60% | 3.64 | 4.90 |
| Total Market | 6199 | 1.25 | 1.69 | 27.54% | 4.56 | 6.15 |
| Total Market (without financials) | 5896 | 1.40 | 1.69 | 27.49% | 5.11 | 6.15 |
原始的excel文件：下载
Last updated: January 2020
All credits go to Aswath Damodaran.