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I can't help with the ROIC calculation (yet), but I think I can help you simplify the WACC Calculation.

You can use thatswacc.com to automatically calculate the Weighted Average Cost of Capital for any publicly traded firm. (Disclaimer: I maintain the thatswacc.com site, so apologies for shilling here, but I think it addresses your specific need). You type in the ticker symbol for the company you are interested in, and WACC is calculated automatically.

You can see more details on the site, but here is the general process thatswacc.com uses to calculate WACC:

After you type in the ticker symbol, the site pulls back and displays 3 years (if available) of balance sheet (bs) and income statement (is) data for elements relevant to the WACC. It also finds an estimate of Beta for the stock.

recall that WACC =(D/V)*(1-Tc)(rD) + (E/V)(rE). The 'component' values that make up the WACC are calculated as follows:

Rd (cost of debt) = Interest Payments/(Short Term Debt + Long term debt)
where...
* Get Interest payments (from IS)
* Get Long Term and Short Term Debt (from BS)

Tc (Corporate Tax Rate) = 3 yr average of (Taxes Paid/Net Income Before Tax)
where...
* Taxes Paid (from IS)
* Net Income before Taxes (from IS)

rE (cost of Equity) = calculated using the Beta of the firm's stock and the CAPM (capital asset pricing model) equation.

D = total short term + long term debt in balance sheet
E = Total firm intraday market cap
V = D + E

The site calculates WACC and also shows the calculated values for all the 'component' variables (such as Tc, rD, rE, etc). You can then change any of the input variables you deem necessary (for example, the 3-year average tax rate at Borders Group (BGI) calculates to around -48%, so I always 'override' that with 28%, assuming the -48% isn't sustainable.

I hope the site is useful in your research (or simply that the steps above assist you in manually calculating WACC).

Good luck!

Mitch

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