The WACC is calculated as Hurtlocker explained.

But we can consider it as the sum of the risks plus the time value of money (risk-free rate).

Much of the WACC is, in fact, independent of the company. Interest rates are the sum of the risks plus the risk-free rate.
To the risk-free rate, we must add country risk (the risk of the country where the company operates), sector risk (the economic sector in which it operates), and company risk (the riskier the company, the higher the interest rate).
My point is that, of all the components, only a portion depends on the company itself.