Levered Beta
Also called equity beta. Business risk plus the extra risk that borrowing imposes on the equity. What you actually put into CAPM. Relever an unlevered beta at the capital structure of the company you are valuing, not the peer set’s, or the beta and the WACC weights disagree with each other. Work through it interactively in the Beta Refresher lab at /labs/beta.
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This term comes up constantly in valuation interviews and on the desk.
DCF interview questions guideRelated Valuation terms
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