The study analyzed the capital cost at PT Kalbe Farma Tbk using the Weighted Average Cost of Capital (WACC) method. The researchers found that the WACC values for the company were optimal, with a decreasing trend from 2018 to 2020 and a slight increase in 2021. A good WACC value ensures that investors receive the minimum rate of return required. This analysis helps company management understand the balance between debt and capital and provides valuable information for potential investors.