Calculating Return on Equity in a DCF

How do you find the rate of return on equity when you're looking at different financing options in a DCF. I know that the formula is net income/shareholder equity, but this isn't giving me different rates for the different financing options... Thanks for any input

 

this might make sense if a firm needed to meet covenants (i.e. ROE) a few years down the road yet also needs $$ to grow and wants to see how various financing can help (e.g. stock issuance would impact for sure)

 

Rip it from research reports and / or spam the shit out of your banker buddies until they cave and send you some barra's beta numbers. Drop it in your model, foot note that bitch, hit F9 and go watch some soccer games at bar with your friends. Done.

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