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Knowledge and Training for Financial Decision Making!

FINEXPERT REPORT February 2023



Content
Preface & people
Executive Summary
Risk-free rate
Market returns and market risk premium
Sector classification of the DACH region
Betas
Sector returns
Trading multiples


ValueTrust, finexpert and the Institute of Management Accounting and Auditing at WU Vienna publish the twelfth edition of the ValueTrust DACH Capital Market Study (version: December 31, 2022). In our DACH Capital Market Study, we derive valuation parameters and cost of equity in a comprehensive manner for Germany, Austria and Switzerland to provide a sound basis for investment decisions. We present current valuation levels based on stock market multiples and estimate the cost of equity using four different methods for twelve different industries. >more

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