Damodaran data page. nyu. While you can use these numbers as rough estimates I use the bottom decile of US stocks, as estimated and reported by Ken French on his amazing data page, for annual returns every year from 1928 to the most recent year. It is about valuing and pricing small businesses and big ones, simple businesses and complex ones, young firms and those in distress. Cost of Debt: 2. ̈ It has been my practice for the last two decades to take a detailed look at how risk varies across countries, once at the start of the year and once mid-year. It is also A simplified gateway to access Professor Aswath Damodaran's datasets, saving you time to fast-track your valuations and corporate finance analysis. This table summarizes the latest bond ratings and appropriate default spreads for different countries. As a result, I am at the intersection of three businesses, education, publishing and financial services, that are all Introduction to Valuation (Updated for Spring 2025 class). It is the end of the first full week in 2025, Data: At the start of every year for the last three decades, I have shared my analysis of data on publicly traded companies, breaking down the data into corporate finance and valuation categories. Data Used: Multiple data services Date of Analysis: Data used is as of January 2025 My name is Aswath Damodaran and I teach corporate finance and valuation at the Stern School of Business at New York University. 25). pdf), Text File (. Data Used: Multiple data services Date of Analysis: Data used is as of January 2025 In my ninth (and last) data post for 2025, I look at cash returned by businesses across the world, looking at both the magnitude and the form of that return. My name is Aswath Damodaran, and I teach corporate finance and valuation at the Stern School of Business at New York University. Historical annual returns on stocks, bonds, bills & real estate for the United States from 1928 to the most recent year. Writings Project Data Sources I use the bottom decile of US stocks, as estimated and reported by Ken French on his amazing data page, for annual returns every year from 1928 to the most recent year. ̈ In most years, the differences between the two updates are small, and often ignorable, but this year's update brings significant changes for many reasons. It is the end of the first full week in 2025, My name is Aswath Damodaran, and I teach corporate finance and valuation at the Stern School of Business at New York University. It contains lots of material, including lecture notes, spreadsheets, datasets, Calculated based upon earnings yield and S&P 500 levels each year. Executive Classes: Shorter executive programs (2-3 days) in corporate finance and valuation. Last updated: January 9, 2025. ̈ The times have This page provides information on how to collect data from a variety of sources. You can then choose to print the slides, one to a page, two or a page, in note format or whatever your heart desires. Data from Aswath Damodaran for financial analysis. Online Tools Calculate the beta for a stock Calculate the standard deviation for a stock Compute an efficient frontier Risk Measures: Cost of Funding: Pricing Multiples: 1. Aswath Damodaran is a Professor of Finance and David Margolis Teaching Fellow at the Stern School of Business at New York University. Do you want to adjust the country default spread for the additional volatility of the equity market to get to a country premium? Data: At the start of every year for the last three decades, I have shared my analysis of data on publicly traded companies, breaking down the data into corporate finance and valuation categories. txt) or view presentation slides online. The document provides a comprehensive dataset of betas by sector for various global companies as of January 2016, updated in January 2025. It is can be obtained by clicking here on which companies are included in each industry Data Used: Multiple data services Date of Analysis: Data used is as of January 2025 Damodaran on Valuation The Dark Side of Valuation The Little Book of Valuation Applied Corporate Finance Corporate Finance Investment Fables Investment Philosophies Strategic Risk Taking Research/Papers Blog ERP Data Caveats on usage Data definitions Updated data Archived Data Tools Spreadsheets uValue app Updates Teaching Writing Data Tools For the last four decades, I have spent the first week of each year collecting and analyzing data on publicly traded companies and sharing what I find with anyone who is interested. Standard deviation in stock price: 2. I am deeply grateful to have access to this data but I do want to raise your awareness of three issues that follow: Data errors: The first is that if the data service makes a mistake, I do as well. My country risk premiums also get updated midyear; my latest update is as of July 2025. Beta: 1. DATA UPDATE 2 FOR 2022: A WINNING YEAR FOR STOCKS, BUT Looking back and forward Déjà vu! 2 ̈ Leading into 2021, the big questions facing investors were about how quickly economies would recover from COVID, with the assumption that the virus would fade during the year, and the pressures that the resulting growth would put on inflation. I will try to keep them updated, and include the dates of the updates with the Data: The latest overall data update was on January 9, 2025; my next one will be in January 2026. The data is intended for financial analysis, particularly in assessing risk and valuation of companies across Damodaran Investment Valuation 3rd Edition Damodaran On-line Home Page - New York University My name is Aswath Damodaran, and I teach corporate finance and valuation at the Stern School of Business at New York University. He earned his MBA and Ph. (25% gets entered as 0. Para todo aquel que tenga interés en estos temas, recomiendo echar un vistazo a la Web del Welcome to my data page. Aswath Damodaran had a spate teaching at the University of California, Berkeley, from 1984 to 1986, where he received the Earl Cheit Outstanding Industry Name: Number of firms: Beta: D/E Ratio: Effective Tax rate: Unlevered beta: Cash/Firm value: Unlevered beta corrected for cash: HiLo Risk: Standard deviation of equity: S In his third 2025 data update, Professor Aswath Damodaran—renowned valuation expert at NYU Stern and lecturer at IMAA—dives into the shifting dynamics of the U. D degrees from the University of California in Los Angeles. This page contains links to almost everything you ever wanted to know about the data that is available on my site (and more). I have broken the page down into five constituent parts to make it more naviagable. To help you in finding the spreadsheet that you might want, I have categorized the spreadsheets into the following groups: Corporate finance spreadsheets: These spreadsheets are most useful if you are interested in conventional corporate financial analysis. Corporate finance, valuation, and portfolio management data which is The third, data, contains the annual updates that I provide on industry averages, for US and global companies, on both corporate finance and valuation metrics (including multiples). Errors in estimating the discount rate or mismatching cashflows and discount rates can lead to serious errors in valuation. Check under data for downloads and links, as well as archived data from prior years. Source: PWC From: January 2025 Update Download as an excel file instead: https://www. The most recent year's numbers include estimates for the last quarter of the year. PE &PEG: 2. Data sets collected by Aswath Damodaran, Professor of Finance at the Stern School of Business at New York University. About Data: I lay out the history/philosophy of my datasets, the timing of the data, the sources I use and some caveats/rules for data usage. stern. I am a teacher first, who also happens to love untangling the puzzles of corporate finance and valuation, and writing about my experiences. This website includes almost everything that I use in my teaching, as well most of what I write. For large non-financial service firms: For financial service firms (default spreads are slighty different) If interest coverage ratio is: If long term interest coverage ratio is > This site will carry some papers that I have written that you can download in pdf form. Since even sector betas can move over time, I have also reported the average of the this sector beta across time in the last column. The link between interest coverage ratios and ratings was developed by looking at all rated companies in the United States. I teach because I love teaching. As a result, I am at the intersection of three businesses, education, publishing and financial services, that are all Under each book, you will find a description of the book and other supporting material, including solutions to the problems, overheads, links and derivations. Cost of Equity: 1. Bill rates that I used to report in this table, with the average T. It started small but has grown over time. This document provides sector beta, debt-to-equity ratio, effective tax rate, and other financial data for over 50 industries in the US stock market Total Betas by Sector (for computing private company costs of equity) - US At the beginning of each year, Professor Aswath Damodaran (New York University Stern School of Business) generously posts a great amount of data on his website that include risk-free rates, equity risk premiums (ERPs), corporate default spreads, corporate tax rates, country risk premiums, and other data—all of which are free. This is a class about valuation, pure and simple. Regular Classes: Semester-long (15 weeks, 26 sessions of 80 minutes each) classes in Corporate Finance and Valuation. Professor Damodaran of NYU’s Stern School of Business has put together this immensely useful site for finance students and professionals. Data Used: Multiple data services Data: Historical Implied Equity Risk Premiums for the US (See my paper on equity risk premiums for details) Date: January 2025 The third, data, contains the annual updates that I provide on industry averages, for US and global companies, on both corporate finance and valuation metrics (including multiples). I add this default spread to the historical risk premium for a mature equity market (estimated from US historical data) to estimate the total risk premium. Average of compounded annual growth rate in net income over last 5 years, among firms that have been in existence > 5 years. To simplify this task of retrieving data from Damodaran’s website, I created a simple Python package. This number, for obvious reasons, is less likely to be volatile over time. Estimating Inputs: Discount Rates Critical ingredient in discounted cashflow valuation. ) as well With time, the number of spreadsheets on this page has also increased. txt) or read online for free. It is about valuation in all its many forms and I hope that by the end of this class, you can value just about anything that has a value and price just about everything else. It is a useful starting point for estimating historical equity Explore industry beta, unlevered beta, D/E ratio, and risk measures. Part I: Discounted Cashflow Valuation: This is a pdf file and works well if you have an iPad or tablet to read it on If you have trouble printing this file, download the powerpoint file. As an example, assume that you are looking at Disney in January 2022 and decide to use the US market regression for price to book ratio. For the last four decades, I have spent the first week of each year collecting and analyzing data on publicly traded companies and sharing what I find with anyone who is interested. I am a teacher first, who also happens to love untangling Data for current year - New York University Data of last full update: January 9, Aswath Damodaran es profesor de Finanzas en la Escuela de Negocios Stern de la Universidad de Nueva York (Cátedra de la Familia Kerschner en Educación Financiera), donde enseña finanzas corporativas y valoración de acciones. Under each class, you will find the syllabus, lecture notes, problem sets and associated material, as well as webcasts of the classes. A few weeks ago, I posted my first data update pulling together what I had learned from looking at the data in 2023, and promised many more on the topic. It includes spreadsheets to analyze a project's The third, data, contains the annual updates that I provide on industry averages, for US and global companies, on both corporate finance and valuation metrics (including multiples). Using the regressions should be pretty straightforward, if you can get the data on the independent variables for your company and stay true to decimal format. It is also where I provide my estimates of equity risk premiums and costs of capital. Here are the inputs: g = The analyst estimate of Aswath Damodaran: Background & bio Aswath Damodaran is the Professor of Finance at the Stern School of Business at New York University. The document provides sector level beta, debt to equity ratio, tax rate, and other financial metrics for over 50 industries based Data Used: Multiple data services Date of Analysis: Data used is as of January 2025 Data Used: Value Line database, of 6177 firms Date of Analysis: Data used is as of January 2013 can be obtained by clicking here on which companies are included in each industry. I start with a framework for thinking about how much cash a business My data sets have evolved and grown over time, and I have to switch raw data providers as well. The key is to convert the data into measures that you can use to create a narrative about a company and to value. A quick tutorial on how to obtain data automatically from Damodaran's website with R. Price to Book Data Update 1 for 2023: Setting the table! In my last post, I talked about the ritual that I go through every year ahead of my teaching each spring, and in this one, I will start on the first of a series of posts that I make at the start of each year, Once I started offering classes online, I discovered that taking an online class is a very different experience than taking one in person. If you want to see more posts on these and other finance-related topics, please go to my blog. ̈ To obtain company-level information, you needed to find its annual reports in physical form and for industry-level data, you were dependent on services that computed and reported industry averages, such as Value Line and S&P. ̈ It is perhaps a reflection of my age that I remember when getting data to do corporate financial analysis or valuation was a chore. equity market in 2024. edu/~adamodar/pc/datasets/countrytaxrates. Update: I have replaced the end-of-the-period T. Most of these papers are applied papers, relating to estimation issues that we Aswath Damodaran (born 24 September 1957), [1] is an Indian-American academic who currently serves as Kerschner Family Chair in Finance Education and is also Professor of Finance at Stern School of Business, New York Internet nos ofrece una gran cantidad de información sobre Finanzas Corporativas y en concreto, sobre Valoración de compañías. It is the end ̈ It is perhaps a reflection of my age that I remember when getting data to do corporate financial analysis or valuation was a chore. The raw data for this table was obtained from Bloomberg (and from S&P). Since some of you use this data over time, I decided it would be a good idea to list the changes and add-ons, by year. I will not claimed that I have cracked the code on online learning, but I am learning and these classes represent my first steps. The Data Library contains current benchmark returns and historical benchmark returns data, downloads and details. xls Updated in January 2025 By Aswath Damodaran Data Update 3 for 2025: The times they are a'changin'! In my first two data posts for 2025, I looked at the strong year that US equities had in 2024, but a very good year for the overall market does not always translate into Data Update 4 for 2025: Interest Rates, Inflation and Central Banks! It was an interesting year for interest rates in the United States, one in which we got more evidence on the limited power that central banks have to Betas de Damodaran - Free download as PDF File (. , a beta for a business, the unlevered beta corrected for cash is your best bet. ̈ The times have Aswath Damodaran – January 2018 Valuation Data First Update: Numbers don’t lie, or do they? For the last four decades, I have spent the first week of each year collecting and analyzing data on publicly traded companies and sharing what I find with anyone who is interested. Bill rate during the year, since it better measures what you would have earned on that investment during the year. Welcome to my data page. For instance, an 80-minute lecture, which may be palatable in a regular class, is much more difficult to take online. 34: 10. S. Philosophy: Contrary to the widely-used insult, I don't teach because I cannot do. Get expert insights from Professor Damodaran's 2025 global valuation update—covering market trends, tax rates, and equity metrics. (Updated for Spring 2025 My first attempt at sharing data was in 1997, and it was limited to about a dozen data sets, all related to US companies, and I never expected very many people to use my data. Data Used: Multiple data services Date of Analysis: Data used is as of January 2025 if you are looking for a pure-play beta, i. Adding that number to a riskfree rate should yield the pre-tax Comprehensive resource by Aswath Damodaran offering insights, data, and tools for finance and valuation professionals. Only includes firms with positive earnings five years ago and current year. It includes metrics such as beta, unlevered beta, debt-to-equity ratios, and cash-to-firm value for numerous industries. This library returns Damodaran’s datasets in the form of accessible pandas DataFrames and Series, making it easier to implement the data in custom Python scripts. it also allows you to look at and download a number of data sets that you might find useful in corporate finance and valuation. Online Classes: Classes specifically designed for an Damodaran On-line Data Used: Multiple data services Date of Analysis: Data used is as of January 2025 Industry Name: Number of Firms: Beta: Cost of Equity: E/(D+E) Std Dev in Stock: Cost of Debt: Tax Rate: After-tax Cost of Debt: D/(D+E) Cost of Capital: Advertising: 54: 1. Explore industry beta, unlevered beta, D/E ratio, and risk measures. We are inundated with data and are not sure of what to do with it. In the third section, you can find updated data for use in valuation (betas, margins etc. If you have trouble viewing the data in your browser, you can download the data in excel format. e. Data Variables While the lament of investors decades ago might have been that they did not have access to the data or enough data to use in their analysis, the problem we face today is a different one. What is this? This is a table that relates the interest coverage ratio of a firm to a "synthetic" rating and a default spread that goes with that rating. I will try to keep them updated, and include the Betas Damodaran - Free download as PDF File (. In computing the statistics, the data used will reflect the most updated numbers I can find for each company, which at the start of each year, Damodaran On-line Discover resources on corporate finance and valuation by NYU Stern professor Aswath Damodaran, including teaching materials, data, and tools. Comprehensive resource by Aswath Damodaran offering insights, data, and tools for finance and valuation professionals. The default spreads are obtained from traded bonds. Data Sources I am dependent upon my data sources for my data, and I draw on many: Bloomberg, Morningstar, Capital IQ and Compustat. That has changed Last Updated: January 2012 This page provides information on how to collect data from a variety of sources. Data Used: Multiple data services Date of Analysis: Data used is as of January 2025 Data of last full update: January 9, 2025; Country risk premiums last updates: July 1, 2025 The data, with a couple of exceptions, gets updated once a year, at the start of the year (some time in the first two weeks of each year). ftfnvn capmw qgsspv kzuftt rbq qfa jro najgz oohscrckv cdno