The theme of this paper is the weighted average cost of capital or. The paper presents a theoretical background understanding the concept of measuring the weighted average cost of capital. The issues addressed are following; how does the company collect the money? What are the rules and principles that companies apply to doing business? What are the expectations of investors? An estimated average cost of capital? What are the advantages and disadvantages of applying WACC as the discount rate? What is the average weighted cost of capital of wine industry in Croatia? Weighted average cost of capital is a measure establishing the average cost of financing the company. As explained in the paper, the company is financed from two sources and that is, its own capital and borrowing. Through the work is shown the process of calculating the WACC, which is not an easy job, are explained in more detail for the number of formulas for the calculation of WACC and elaborated in detail each step in the calculation. The paper deals with the area of finance focused on risk, and particularly market risk, which is next to the beta, the most important factor for the calculation of the weighted average cost of capital. In the second part, the paper deals with the calculation of WACC on a concrete example, namely the leading 10 wine producing companies in the Republic of Croatia and the whole industry. What is important, and is demonstrated through examples, is the difference in the calculation of the WACC for joint stock companies or companies whose securities are listed on the stock exchange and to a limited liability company, whose papers are not in the capital markets. The goal we tried to achieve with this paper is to explain the concept of weighted average cost of capital, and the calculation of WACC on a concrete example and thus emphasize the importance of its application in contemporary management.