📥 Free Download

Free WACC Excel Template

A professionally built WACC spreadsheet — ready to use in under 60 seconds. Covers standard WACC, CAPM cost of equity, preferred stock, and private company adjustments. No macros, no add-ins, no email required.

WACC Calculator Spreadsheet (.xlsx)
Five pre-built worksheets covering every major WACC methodology. Enter your numbers and all calculations, charts, and interpretations update automatically.
✓ 100% Free ✓ No Email Required ✓ Excel & Google Sheets ✓ No Macros ✓ Instant Download
Download Free Excel Template
Excel .xlsx format · Works with Excel 2016+, Microsoft 365, and Google Sheets
📊
Excel Template
.xlsx format
📋 What's Included

Everything Pre-Built for You

Six powerful worksheets, fully formatted and formula-driven. Just fill in the yellow input cells — everything else calculates automatically.

📊
Standard WACC Calculator
The core worksheet. Enter cost of equity, cost of debt, equity value, debt value, and tax rate. WACC, weights, and contributions calculate instantly with an auto-updating doughnut chart.
β
CAPM Cost of Equity
Dedicated CAPM tab. Input Beta, risk-free rate, and market return — the cost of equity auto-fills into the main WACC sheet. Includes a live formula display and sensitivity analysis.
💹
Preferred Stock WACC
Full 3-component WACC for companies with preferred equity. Separate cost and weight for preferred stock, with correct treatment — no tax shield on preferred dividends.
🏢
Private Company Adjustments
Size premium, illiquidity premium, and company-specific risk premium fields that adjust the cost of equity automatically. Includes a reference table of typical premium ranges by company size.
📈
Sensitivity Analysis Table
A two-variable data table showing how WACC changes across different cost of equity and cost of debt assumptions. Essential for scenario analysis and valuation stress-testing.
📝
DCF Ready Output
A summary output tab formatted for use in a DCF model. Includes WACC, component breakdown, capital structure weights, and a clean printable summary for presentations or reports.
📑 Worksheet Overview

5 Worksheets Inside

Each tab is purpose-built for a specific WACC scenario. No clutter — just the inputs and outputs you need.

1. WACC_Main

Standard WACC Calculator

The primary calculation sheet. Covers the classic 2-component WACC formula with optional preferred stock toggle.

Cost of Equity input (or linked from CAPM tab)
Cost of Debt with automatic tax shield
Equity, Debt, and optional Preferred values
Auto-calculated weights and WACC result
Auto-updating capital structure pie chart
2. CAPM_CoE

CAPM Cost of Equity

Calculate the cost of equity from Beta using the Capital Asset Pricing Model. Result feeds directly into the main sheet.

Risk-free rate (linked to 10-yr Treasury)
Beta input with industry reference table
Equity risk premium with Damodaran reference
Auto-calculated Ke fed to WACC_Main
Beta sensitivity: Ke at 0.5x to 2.0x Beta
3. Preferred_Stock

3-Component WACC with Preferred

Full capital structure model including preferred stock with separate cost and weight calculation.

Preferred dividend and price inputs
Auto-calculated cost of preferred stock
3-component WACC with no tax shield on preferred
3-colour capital structure chart
4. Private_Co

Private Company WACC

Adjusted WACC for private businesses with size, illiquidity, and company-specific risk premiums.

Size premium with Duff and Phelps reference
Illiquidity premium guidance table
Company-specific risk premium checklist
Adjusted Ke auto-calculated and used in WACC
5. Sensitivity

Sensitivity Analysis

Two-variable data table showing WACC across different cost of equity and debt scenarios. Essential for range analysis.

Cost of Equity from 6% to 20% across columns
Cost of Debt from 3% to 12% down rows
Conditional formatting — green low, red high
Base case highlighted automatically
Instructions

How to Use Guide

Step-by-step instructions for using each worksheet, with formula explanations and data source guidance.

Yellow cells = input, white cells = calculated
Where to find each input (Bloomberg, Damodaran)
Common mistakes and how to avoid them
Glossary of all WACC terms used
⚖️ Comparison

Online Calculator vs. Excel Template

Both tools are free. Here is when to use each one.

Feature Online Calculator Excel Template
Instant WACC calculation ✓ ✓
Works offline — ✓
Save and reuse your inputs — ✓
Sensitivity analysis table — ✓
Multiple scenarios side by side — ✓
Customise and extend formulas — ✓
Share with a team — ✓
Use in presentations or reports — ✓
No software required ✓ —
Mobile friendly ✓ —
Plain-English result interpretation ✓ —
FAQ

Frequently Asked Questions

Everything you need to know about the free WACC Excel template.

Is the Excel template really free?+
Yes — completely free. No email address, no account, no subscription, no payment of any kind. Click the download button and the file downloads instantly to your device. We will never ask for your contact details to access our free tools.
What version of Excel do I need?+
The template works with Microsoft Excel 2016 and later, Microsoft 365 (any version), and Google Sheets. It uses only standard Excel formulas — no macros, no VBA, no add-ins required. If you open it in Google Sheets, upload the .xlsx file to Google Drive and open it with Google Sheets for full compatibility.
Does the template work on Mac?+
Yes. The template is fully compatible with Excel for Mac (2016 and later versions). It also works on any device via Google Sheets — simply upload to Google Drive and open in your browser, including on iPad or Android tablets.
Can I modify the template for my own use?+
Absolutely. The template is completely unlocked — no password protection, no hidden sheets, no restricted cells. You can add rows, change formulas, add your company branding, or extend it into a full financial model. We just ask that you do not redistribute it as your own paid product.
Does Excel have a built-in WACC function?+
No — Excel does not have a WACC function. The standard WACC formula must be built manually: =(E/(E+D)*Ke) + (D/(E+D)*Kd*(1-t)) where E is equity value, D is debt value, Ke is cost of equity, Kd is cost of debt, and t is the tax rate. Our template has all of this pre-built, labelled, and formatted so you simply enter your numbers in the yellow input cells.
Can I use this template for a DCF valuation?+
Yes — the template is specifically designed to feed into a DCF model. The Summary Output tab provides the WACC figure in a clean format ready to use as your discount rate. For a full DCF model you would need to add your own free cash flow projections and terminal value calculation, but the WACC component is completely handled by this template.
Where do I find the inputs for the template?+
The Instructions tab inside the template guides you to all major sources. Key sources: Risk-free rate — US Treasury website (treasury.gov) for current 10-year yield; Beta — Yahoo Finance, Bloomberg, or Damodaran Online for industry betas; Equity Risk Premium — Damodaran's annual update (pages.stern.nyu.edu/~adamodar); Cost of Debt — company's most recent annual report or credit facility documents; Market values — Bloomberg, company investor relations, or financial statements.
Is the sensitivity analysis automatically updated?+
Yes. The sensitivity analysis on the Sensitivity tab uses Excel's data table feature (What-If Analysis), which automatically recalculates every time you change an input on the main tab. The conditional colour formatting (green for low WACC, yellow for moderate, red for high) also updates automatically so you can instantly see the full range of scenarios.
📥 Free Download

Ready to Download?

Get the complete WACC Excel template instantly — no email, no sign-up, completely free.

Download Free Excel Template
Excel .xlsx · Compatible with Excel 2016+, Microsoft 365, and Google Sheets
📊 Online Calculator β WACC with Beta 🏢 Private Company WACC