Esty, Benjamin C., and E. Scott Mayfield. "The Weighted Average Cost of Capital (WACC): Derivation, Intuition, and Applications." Harvard Business School Technical Note 221-106, June 2021.

The weighted average cost of capital (WACC) is a measure of the average rate of return that a company is expected to pay to its investors to finance its assets. The WACC takes into account the ...