Here are publicly available screens that implement the various approaches I discussed re: WACC.
“Cost of Capital - Standard CAPM with all its warts:” https://www.portfolio123.com/app/screen/summary/124759?st=1&mt=1
“Cost of Capital - Fixing CAPM Problems:” https://www.portfolio123.com/app/screen/summary/124761?st=1&mt=1
“Cost of Capital - As Simple as Feasible:” https://www.portfolio123.com/app/screen/summary/124760?st=1&mt=1
“Cost of Capital with a novel cost-of-equity idea:” https://www.portfolio123.com/app/screen/summary/124763?mt=1
Be sure to use this screen in conjunction with “My Fancy Risk Rank:” https://www.portfolio123.com/app/ranking-system/249209
An important thing I forgot to mention:
These routines are strictly for calculating WACC and would be expected to be included among other screening/buy rules. It’s important that those rules include @ComEq(0,qtr)>=0 of something like that. If equity is negative, as it can be, you’d wind up with a distorted or perhaps even negative WACC.
You’d then have to choose to simply let such companies fall out of your model (a perfectly reasonable decision if you’re choosing to use something like EVA or anything else that requires a WACC as part of your selection process), or you’d have to use EVAL condition to simply set a WACC by fiat, perhaps a pre-determined spread above #tnx…