Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Starts PublishingTSE:7849 -0.43%86 WACC % is 2.1% as of Jul. 14, 2026, which is 1% below its 10-year median of 2.13. GuruFocus rates TSE:7849 with a GF Score™ of 86/100 and a GF Value™ of 円3,953.56 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,039 Media - Diversified companies, Starts Publishing ranks better than 93.36% on this metric.
As of today (2026-07-14), Starts Publishing's weighted average cost of capital is 2.1%%. Starts Publishing's ROIC % is 7.22% (calculated using TTM income statement data).
Starts Publishing generates higher returns on investment than it costs the company to raise the capital needed for that investment. It 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.
For a comprehensive WACC calculation, please access the WACC Calculator.
Starts Publishing (TSE:7849) 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, Starts Publishing's weighted average cost of capital is 2.1%%. Starts Publishing's ROIC % is 7.22% (calculated using TTM income statement data).
Starts Publishing generates higher returns on investment than it costs the company to raise the capital needed for that investment. It 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.
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
Starts Publishing WACC % Historical Data
* Premium members only.
The historical data trend for Starts Publishing'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 Publishing subindustry, Starts Publishing'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.
Starts Publishing WACC % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Starts Publishing's WACC % distribution charts can be found below:
* The bar in red indicates where Starts Publishing'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, Starts Publishing's market capitalization (E) is 円13270.934 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, Starts Publishing's latest one-year quarterly average Book Value of Debt (D) is 円135 Mil.
a) weight of equity = E / (E + D) = 13270.934 / (13270.934 + 135) = 0.9899
b) weight of debt = D / (E + D) = 135 / (13270.934 + 135) = 0.0101
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 2.65%. 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. Starts Publishing's beta is -0.0877.
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 = 2.65% + -0.0877 * 6% = 2.1238%
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, Starts Publishing's interest expense (positive number) was 円-0 Mil. Its total Book Value of Debt (D) is 円135 Mil.
Cost of Debt = -0 / 135 = 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 = 216.711 / 751.86 = 28.82%.
Starts Publishing'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)
=
0.9899
*
2.1238%
+
0.0101
*
0%
*
(1 - 28.82%)
=
2.1%
* 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.
Starts Publishing (TSE:7849) has a WACC % of 2.1% as of Jul. 14, 2026. The weighted average cost of capital (WACC) is the average rate a company pays to finance assets. View historical data on Starts Publishing and its competitors. This is near median its historical median of 2.13. According to the industry distribution chart, Starts Publishing ranks #69 out of 1039 companies in the Media - Diversified industry, placing it in the top 6.6%.
Is Starts Publishing's WACC % too high?
Starts Publishing's current WACC % of 2.1% is near median its 10-year median of 2.13. The Media - Diversified industry median WACC % is 7.35. Starts Publishing's value of 2.1% is 71.4% below this industry median. Based on the distribution chart, Starts Publishing ranks #69 out of 1039 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Starts Publishing has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Starts Publishing's WACC % compare to NYT and WLY?
According to the Media - Diversified industry distribution chart, Starts Publishing ranks #69 out of 1039 companies for WACC %. This places Starts Publishing in the top 7% of its industry — outperforming the majority of peers. The industry median WACC % is 7.35. Starts Publishing's value of 2.1% is 71.4% below this benchmark. While the company's 10-year median is 2.13 vs. the industry median of 7.35, Starts Publishing has consistently been below 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 Media - Diversified company?
The median WACC % among Media - Diversified companies is 7.35, based on 1,039 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. Starts Publishing's current WACC % of 2.1% is 71.4% below 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 Starts Publishing and its competitors. For the Media - Diversified industry, the median WACC % is 7.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Starts Publishing's current WACC % is 2.1%, which is near median its own 10-year median of 2.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Starts Publishing stock overvalued right now?
Based on GuruFocus' analysis, Starts Publishing (TSE:7849) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,953.56, compared to a current price of 円3,490.00 — trading 11.7% below its estimated fair value. The current WACC % is 2.1%, which is near median its 10-year median of 2.13 and 71.4% below the Media - Diversified industry median of 7.35. Starts Publishing's overall GF Score™ is 86/100 with 2 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 Starts Publishing (TSE:7849), the current WACC % is 2.1% as of Jul. 14, 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 Starts Publishing (TSE:7849) Overvalued in 2026?
Based on GuruFocus' analysis, Starts Publishing stock appears to be undervalued.
The current stock price of 円3,490.00 is trading 11.7% below its estimated GF Value™ of 円3,953.56.
GuruFocus considers Starts Publishing to be Modestly Undervalued.
Key valuation signals for TSE:7849:
WACC %: 2.1% (near median its 10-year median of 2.13)
GF Value™: 円3,953.56 vs. price of 円3,490.00 (11.7% below fair value)
Industry Position: 71.4% below the Media - Diversified median (#69 of 1039)
No single metric tells the full story. See the TSE:7849 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Starts Publishing Corp is engaged in Tokyo marketing domain which include event planning and management and sales to publishing store, and post contents of the domain. Its segments include: Book content business; and Media Solutions Business. It derives maximum revenue from Book content business segment.
86GF Score
Get the complete analysis for TSE:7849
WACC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TSE:7849 has been successfully added to your 
