CAPM - What is the Capital Asset Pricing Model


Summary

This video provides a comprehensive overview of the Capital Asset Pricing Model (CAPM) and its components like risk-free rate, beta, and expected stock market return. It explains beta's role in assessing stock movement in comparison to the market using examples of Apple and Facebook. The step-by-step calculation of CAPM is demonstrated for both companies, followed by the application of CAPM in determining Weighted Average Cost of Capital (WACC) and as a discount factor for stock valuation. Through practical examples with Apple and Facebook, the video showcases how CAPM can be utilized to calculate the present value of future cash flow expectations.


Introduction to CAPM

Introduction to the Capital Asset Pricing Model (CAPM) and its key components: risk-free rate, beta, and expected return of the stock market.

Understanding Beta

Explanation of beta and its relation to how a stock moves compared to the market, using Apple and Facebook as examples.

Calculating CAPM Formula

Step-by-step calculation of CAPM formula using inputs like risk-free rate, beta, and expected market return for Apple and Facebook.

Application in Valuation

Utilizing CAPM to calculate the Weighted Average Cost of Capital (WACC) and as a discount factor for stock valuation using an example with Apple and Facebook.

Using CAPM for Valuation

Demonstration of how to use CAPM results as a discount factor to calculate the present value of future cash flow expectations for Apple and Facebook.

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