Sphere 3DANY -6.64%58 WACC % is 32.16% as of Jun. 26, 2026, which is 80% above its 10-year median of 17.88. GuruFocus rates ANY with a GF Score™ of 58/100 and a GF Value™ of $3.00 (Fairly Valued). The stock has 4 warning signs investors should review. Among 828 Capital Markets companies, Sphere 3D ranks worse than 97.95% on this metric.
As of today (2026-06-26), Sphere 3D's weighted average cost of capital is 32.16%%. Sphere 3D's ROIC % is -52.99% (calculated using TTM income statement data).
Sphere 3D earns returns that do not match up to its cost of capital. It will destroy value as it grows.
For a comprehensive WACC calculation, please access the WACC Calculator.
Sphere 3D (NAS:ANY) WACC % Explanation
Because it costs money to raise capital. A firm that generates higher ROIC % than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, Sphere 3D's weighted average cost of capital is 32.16%%. Sphere 3D's ROIC % is -52.99% (calculated using TTM income statement data).
Sphere 3D earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Be Aware
1. GuruFocus uses book value of debt (D) to do the calculation. It is simplified by adding latest one-year quarterly average Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation together.
For companies that report quarterly, GuruFocus combines all of the most recent year's quarterly debt data from the beginning of the year to the year-end and calculates the average.
For companies that report semi-annually, GuruFocus combines all of the most recent year's semi-annual debt data from the start of the year to the year-end and calculates the average.
For companies that report annually, GuruFocus combines the beginning and ending annual debt data from the most recent year and then calculates the average.
2. The WACC formula discussed above does not include Preferred Stock. Please adjust if preferred stock is considered.
3. (Expected Return of the Market - Risk-Free Rate of Return) is also called market premium. GuruFocus requires market premium to be 6%.
4. GuruFocus uses the latest TTM Interest Expense divided by the latest one-year quarterly average debt to get the simplified cost of debt.
Related Terms
Sphere 3D WACC % Historical Data
* Premium members only.
The historical data trend for Sphere 3D's WACC % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Capital Markets subindustry, Sphere 3D's WACC %, along with its competitors' market caps and WACC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Sphere 3D WACC % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Sphere 3D's WACC % distribution charts can be found below:
* The bar in red indicates where Sphere 3D's WACC % falls into.
The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. The WACC is commonly referred to as the firm's cost of capital. Generally speaking, a company's assets are financed by debt and equity. WACC is the average of the costs of these sources of financing, each of which is weighted by its respective use in the given situation. By taking a weighted average, we can see how much interest the company has to pay for every dollar it finances.
WACC
=
E
/
(E + D)
*
Cost of Equity
+
D
/
(E + D)
*
Cost of Debt
*
(1 - Tax Rate)
1. Weights:
Generally speaking, a company's assets are financed by debt and equity. We need to calculate the weight of equity and the weight of debt.
The market value of equity (E) is also called "Market Cap". As of today, Sphere 3D's market capitalization (E) is $18.717 Mil.
The market value of debt is typically difficult to calculate, therefore, GuruFocus uses book value of debt (D) to do the calculation. It is simplified by adding the latest one-year quarterly average Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation together. As of Mar. 2026, Sphere 3D's latest one-year quarterly average Book Value of Debt (D) is $0 Mil.
a) weight of equity = E / (E + D) = 18.717 / (18.717 + 0) = 1
b) weight of debt = D / (E + D) = 0 / (18.717 + 0) = 0
2. Cost of Equity:
GuruFocus uses Capital Asset Pricing Model (CAPM) to calculate the required rate of return. The formula is:
Cost of Equity = Risk-Free Rate of Return + Beta of Asset * (Expected Return of the Market - Risk-Free Rate of Return)
a) GuruFocus uses 10-Year Treasury Constant Maturity Rate as the risk-free rate. It is updated daily. The current risk-free rate is 4.372%. Please go to Economic Indicators page for more information. Please note that we use the 10-Year Treasury Constant Maturity Rate of the country/region where the company is headquartered. If the data for that country/region is not available, then we will use the 10-Year Treasury Constant Maturity Rate of the United States as default.
b) Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. Sphere 3D's beta is 4.6307.
c) (Expected Return of the Market - Risk-Free Rate of Return) is also called market premium. GuruFocus requires market premium to be 6%.
Cost of Equity = 4.372% + 4.6307 * 6% = 32.1562%
3. Cost of Debt:
GuruFocus uses latest TTM Interest Expense divided by the latest one-year quarterly average debt to get the simplified cost of debt.
As of Mar. 2026, Sphere 3D's interest expense (positive number) was $-0 Mil. Its total Book Value of Debt (D) is $0 Mil.
Cost of Debt = -0 / 0 = %.
4. Multiply by one minus TTM Tax Rate:
GuruFocus uses the most recent TTM Tax Expense divided by the most recent TTM Pre-Tax Income to calculate the tax rate. The calculated TTM tax rate is limited to between 0% and 100%. If the calculated tax rate is higher than 100%, it is set to 100%. If the calculated tax rate is less than 0%, it is set to 0%.
The latest calculated TTM Tax Rate = 0.003 / -16.8 = -0.02%, which is less than 0%. Therefore it's set to 0%.
Sphere 3D's Weighted Average Cost Of Capital (WACC) for Today is calculated as:
WACC
=
E / (E + D)
*
Cost of Equity
+
D / (E + D)
*
Cost of Debt
*
(1 - Tax Rate)
=
1
*
32.1562%
+
0
*
%
*
(1 - 0%)
=
32.16%
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sphere 3D (ANY) has a WACC % of 32.16% as of Jun. 26, 2026. The weighted average cost of capital (WACC) is the average rate a company pays to finance assets. View historical data on Sphere 3D and its competitors. This is 80% above median its historical median of 17.88. Over the past decade, Sphere 3D's WACC % has ranged from 2.60 to 37.06. According to the industry distribution chart, Sphere 3D ranks #811 out of 828 companies in the Capital Markets industry, placing it in the top 97.9%.
Is Sphere 3D's WACC % too high?
Sphere 3D's current WACC % of 32.16% is 80% above median its 10-year median of 17.88. Over the past 10 years, this metric has ranged from a low of 2.60 to a high of 37.06. The Capital Markets industry median WACC % is 9.22. Sphere 3D's value of 32.16% is 248.8% above this industry median. Based on the distribution chart, Sphere 3D ranks #811 out of 828 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Sphere 3D has a GF Score™ of 58/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Sphere 3D's WACC % compare to NCPL and MEGL?
According to the Capital Markets industry distribution chart, Sphere 3D ranks #811 out of 828 companies for WACC %. This places Sphere 3D in the lower half of its industry. The industry median WACC % is 9.22. Sphere 3D's value of 32.16% is 248.8% above this benchmark. Historically, Sphere 3D's own WACC % has ranged from 2.60 to 37.06 over the past decade. While the company's 10-year median is 17.88 vs. the industry median of 9.22, Sphere 3D has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good WACC % for a Capital Markets company?
The median WACC % among Capital Markets companies is 9.22, based on 828 companies in the industry. Companies in the top quartile (top 25%) have a WACC % significantly above this median, while those in the bottom quartile fall well below. However, WACC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sphere 3D's current WACC % of 32.16% is 248.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high WACC % mean?
A high WACC % can signal that a stock is expensive relative to its fundamentals. The weighted average cost of capital (WACC) is the average rate a company pays to finance assets. View historical data on Sphere 3D and its competitors. For the Capital Markets industry, the median WACC % is 9.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sphere 3D's current WACC % is 32.16%, which is 80% above median its own 10-year median of 17.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sphere 3D stock overvalued right now?
Based on GuruFocus' analysis, Sphere 3D (ANY) is currently considered Fairly Valued. The stock's GF Value™ is $3.00, compared to a current price of $2.74 — trading 8.7% below its estimated fair value. The current WACC % is 32.16%, which is 80% above median its 10-year median of 17.88 and 248.8% above the Capital Markets industry median of 9.22. Sphere 3D's overall GF Score™ is 58/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is WACC % calculated?
WACC % is calculated from a company's financial statements. For Sphere 3D (ANY), the current WACC % is 32.16% as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Sphere 3D (ANY) Overvalued in 2026?
Based on GuruFocus' analysis, Sphere 3D stock appears to be undervalued.
The current stock price of $2.74 is trading 8.7% below its estimated GF Value™ of $3.00.
GuruFocus considers Sphere 3D to be Fairly Valued.
Key valuation signals for ANY:
WACC %: 32.16% (80% above median its 10-year median of 17.88)
GF Value™: $3.00 vs. price of $2.74 (8.7% below fair value)
Industry Position: 248.8% above the Capital Markets median (#811 of 828)
No single metric tells the full story. See the ANY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sphere 3D Corp is engaged in the Bitcoin mining business. The company has established an enterprise-scale mining operation through the procurement of mining equipment and partnering with experienced service providers. It generates revenue from mining and selling Bitcoin.
58GF Score
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