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Stock markets compared by cost of capital (WACC)

Data as of .

WACC by market and sector

Cap-weighted across companies, at the cockpit's default liquidity gate ($50M a day); local currency. Ranked by the All-sectors column. Data as of 6 Nov 2026.
MarketAll sectorsCommunication ServicesConsumer DiscretionaryConsumer StaplesEnergyFinancialsHealth CareIndustrialsInformation TechnologyMaterialsReal EstateUtilities
Switzerland5.4%5.0%7.4%5.1%—5.0%5.2%5.5%5.0%5.9%——
Singapore5.9%5.3%———6.1%—5.9%——5.0%—
Germany7.4%5.0%6.1%——6.1%5.8%9.2%9.4%7.0%5.2%5.2%
Spain7.5%—10.4%—5.3%6.8%—7.4%8.3%——6.2%
Sweden7.6%————6.0%—8.8%—8.8%——
Canada7.7%5.4%7.2%5.0%6.9%6.3%—7.3%13.6%10.2%—5.1%
Italy7.9%—9.6%—6.3%7.9%—8.1%10.5%——7.0%
Japan7.9%7.0%7.3%5.5%5.1%5.2%6.4%8.6%12.3%8.7%5.5%5.0%
Australia8.2%6.1%9.6%6.7%6.1%7.3%7.1%8.1%12.6%9.5%12.7%—
Hong Kong8.2%8.5%10.9%8.1%5.8%6.2%9.5%7.0%8.0%13.6%8.3%—
China8.3%6.8%8.0%6.5%5.1%5.2%7.4%8.6%12.2%8.9%6.6%5.0%
Denmark8.4%—————9.3%5.9%————
Finland8.5%————5.4%——12.9%———
Taiwan8.6%5.0%7.9%—5.0%5.0%7.6%7.7%9.1%6.2%——
United Kingdom8.7%7.2%12.2%8.2%7.4%8.0%8.9%10.3%8.7%11.0%—8.2%
France9.0%6.9%11.5%8.8%6.1%6.4%7.9%10.5%9.6%8.8%—7.0%
Norway9.1%———10.6%5.6%—8.7%————
South Korea10.2%6.4%7.0%6.5%5.3%5.4%5.6%7.7%11.6%5.8%——
United States10.3%12.3%11.0%7.1%6.9%8.2%7.6%9.7%12.2%9.0%8.5%6.8%
Netherlands11.0%5.0%—5.7%—5.2%6.6%12.2%13.0%9.6%——
Poland12.2%—11.9%——12.4%———12.1%——
India13.0%12.5%13.3%13.4%13.0%12.3%12.8%15.3%14.0%———
All markets9.6%11.3%10.4%7.1%6.9%7.3%7.6%9.3%11.9%9.1%8.3%6.4%

Other measures: market capitalisation · market cap to GDP · number of listed companies · forward P/E · P/E ratio · price-to-book · EV/sales · free cash flow yield · revenue growth · EPS growth · operating margin · return on capital · net debt to EBITDA · share of profitable companies · share of companies expanding margins · share of companies with accelerating revenue · ROIC minus WACC · ROIC · growth the price implies (Req g) · growth hurdle · EV/EBITDA · share of companies burning cash · capex intensity · 1-week return · 1-month return · 3-month return · 6-month return · year-to-date return · 1-year return · breadth (share above the 50-day average).

Questions

Which stock market has the lowest cost of capital (WACC)?
Switzerland, at 5.4% (cap-weighted, as of 6 Nov 2026), followed by Singapore (5.9%) and Germany (7.4%).