Equity Risk Premium Number

Dear all,

I am building DCF models for US companies and was wondering what Equity Risk Premium you guys use in the industry? Various data sources suggest 5.5% for 2022, but they do not specify how it was calculated. Historical maybe?

Prof. Damodaran from the NYU suggests 4.24% and shows the derivation, but is more than 120 bp different that the "consensus".

I would gladly appreciate if anyone takes the time to answer this.

Thanks!

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