Betas by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2015

Download as an excel file instead: http://www.stern.nyu.edu/~adamodar/pc/datasets/betas.xls

For global datasets: http://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html

can be obtained by clicking here

on which companies are included in each industry


Industry Number of firms Beta  D/E Ratio Tax rate Unlevered beta Cash/Firm value Unlevered beta corrected for cash HiLo Risk Standard deviation of equity
Advertising 52 1.18 50.62% 4.13% 0.80 3.77% 0.83 0.6900 51.52%
Aerospace/Defense 93 1.16 18.96% 14.87% 1.00 5.61% 1.06 0.4353 50.15%
Air Transport 22 0.98 81.51% 18.71% 0.59 3.63% 0.61 0.4971 53.32%
Apparel 64 0.99 20.73% 11.16% 0.84 2.52% 0.86 0.5106 56.24%
Auto & Truck 22 1.09 105.95% 4.45% 0.54 7.78% 0.59 0.6152 43.52%
Auto Parts 75 1.35 28.64% 11.05% 1.07 6.06% 1.14 0.4917 53.89%
Bank (Money Center) 13 0.81 218.66% 26.43% 0.31 8.41% 0.34 0.1480 39.98%
Banks (Regional) 676 0.53 77.69% 20.66% 0.33 12.56% 0.37 0.1969 37.41%
Beverage (Alcoholic) 22 1.06 21.88% 8.54% 0.88 1.66% 0.89 0.5838 55.14%
Beverage (Soft) 46 1.14 23.04% 5.55% 0.93 4.23% 0.98 0.6977 61.94%
Broadcasting 28 1.30 71.06% 18.34% 0.82 1.58% 0.83 0.4053 62.12%
Brokerage & Investment Banking 46 1.16 303.54% 13.99% 0.32 21.95% 0.41 0.4180 44.77%
Building Materials 39 1.12 32.23% 17.45% 0.88 5.00% 0.93 0.3410 43.52%
Business & Consumer Services 177 1.19 30.41% 13.30% 0.94 5.17% 1.00 0.5382 52.77%
Cable TV 18 0.91 44.80% 21.18% 0.67 2.98% 0.70 0.3746 52.83%
Chemical (Basic) 46 0.94 40.31% 10.88% 0.69 8.61% 0.75 0.5541 50.32%
Chemical (Diversified) 10 1.17 33.20% 22.47% 0.93 5.52% 0.99 0.3198 41.14%
Chemical (Specialty) 103 1.03 21.36% 11.16% 0.86 5.54% 0.91 0.4312 51.80%
Coal & Related Energy 42 1.64 110.41% 0.99% 0.78 5.70% 0.83 0.6123 74.62%
Computer Services 119 1.16 27.56% 10.48% 0.93 5.64% 0.99 0.5193 59.41%
Computers/Peripherals 64 1.21 9.47% 7.35% 1.11 5.03% 1.17 0.4644 66.35%
Construction Supplies 55 1.60 45.39% 16.28% 1.16 4.99% 1.22 0.3884 47.26%
Diversified 23 1.00 60.89% 13.96% 0.66 6.32% 0.70 0.3898 32.85%
Drugs (Biotechnology) 400 1.10 8.48% 1.48% 1.02 4.02% 1.06 0.5719 93.06%
Drugs (Pharmaceutical) 151 1.03 13.42% 4.58% 0.91 4.08% 0.95 0.5615 75.04%
Education 42 1.13 39.42% 12.18% 0.84 11.55% 0.95 0.5092 70.19%
Electrical Equipment 126 1.24 16.86% 5.99% 1.07 6.52% 1.14 0.5870 65.34%
Electronics (Consumer & Office) 28 1.37 4.43% 4.50% 1.32 4.51% 1.38 0.6108 56.16%
Electronics (General) 189 1.03 14.69% 8.64% 0.91 10.67% 1.01 0.4862 69.01%
Engineering/Construction 56 1.31 27.31% 14.18% 1.06 11.07% 1.19 0.5367 47.91%
Entertainment 84 1.21 27.52% 4.11% 0.95 3.26% 0.99 0.6339 58.48%
Environmental & Waste Services 103 1.28 40.58% 6.31% 0.93 1.17% 0.94 0.6112 65.61%
Farming/Agriculture 37 0.84 60.46% 9.36% 0.54 5.94% 0.58 0.5378 41.59%
Financial Svcs. (Non-bank & Insurance) 288 0.67 1206.66% 18.49% 0.06 2.51% 0.06 0.2987 38.80%
Food Processing 96 0.99 27.21% 13.70% 0.80 2.28% 0.82 0.4540 42.05%
Food Wholesalers 14 1.41 17.10% 13.47% 1.23 2.10% 1.26 0.5645 35.73%
Furn/Home Furnishings 27 1.09 26.61% 14.48% 0.89 3.65% 0.92 0.4335 54.24%
Green & Renewable Energy 26 1.32 109.96% 1.94% 0.63 6.10% 0.68 0.7017 53.18%
Healthcare Products 261 0.99 15.67% 6.73% 0.86 4.54% 0.90 0.5028 64.48%
Healthcare Support Services 138 1.05 26.66% 13.27% 0.86 5.72% 0.91 0.5200 46.72%
Heathcare Information and Technology 127 0.95 19.75% 6.35% 0.80 4.16% 0.84 0.5306 70.49%
Homebuilding 35 1.29 60.76% 18.11% 0.86 6.66% 0.92 0.3704 53.78%
Hospitals/Healthcare Facilities 56 0.97 75.58% 10.93% 0.58 1.28% 0.59 0.3416 43.11%
Hotel/Gaming 80 1.18 54.64% 11.41% 0.80 3.95% 0.83 0.4525 49.55%
Household Products 135 1.03 18.89% 10.46% 0.88 3.40% 0.91 0.5794 61.63%
Information Services 67 1.11 13.31% 17.93% 1.01 3.77% 1.04 0.3610 42.71%
Insurance (General) 24 1.03 43.04% 19.21% 0.76 4.99% 0.80 0.2812 35.35%
Insurance (Life) 25 1.04 71.23% 24.30% 0.68 10.21% 0.75 0.1725 34.48%
Insurance (Prop/Cas.) 52 0.83 32.90% 22.18% 0.66 4.74% 0.69 0.2422 36.73%
Investments & Asset Management 148 1.10 74.07% 6.84% 0.65 10.82% 0.73 0.4238 41.63%
Machinery 137 1.23 20.43% 15.64% 1.05 5.94% 1.11 0.4598 46.22%
Metals & Mining 124 1.28 50.69% 1.80% 0.86 5.52% 0.91 0.7351 74.49%
Office Equipment & Services 25 1.34 51.88% 18.65% 0.94 5.51% 1.00 0.3942 49.87%
Oil/Gas (Integrated) 8 0.81 11.06% 14.56% 0.74 3.43% 0.76 0.4107 33.56%
Oil/Gas (Production and Exploration) 392 1.27 48.18% 7.04% 0.87 4.30% 0.91 0.6440 71.93%
Oil/Gas Distribution 85 0.96 47.75% 4.68% 0.66 0.96% 0.67 0.3010 43.15%
Oilfield Svcs/Equip. 161 1.54 27.63% 10.99% 1.24 6.07% 1.32 0.5574 65.23%
Packaging & Container 26 0.95 48.60% 18.18% 0.68 2.50% 0.70 0.3367 31.06%
Paper/Forest Products 22 0.84 51.02% 11.54% 0.58 3.25% 0.59 0.4571 44.94%
Power 82 0.83 75.74% 20.77% 0.52 1.93% 0.53 0.3032 29.70%
Precious Metals 147 1.29 40.80% 1.33% 0.92 11.87% 1.05 0.7545 93.69%
Publshing & Newspapers 43 1.15 47.39% 14.93% 0.82 7.41% 0.88 0.3531 50.42%
R.E.I.T. 213 0.79 88.52% 1.24% 0.42 1.69% 0.43 0.1767 31.55%
Real Estate (Development) 18 1.02 45.42% 7.21% 0.72 12.23% 0.82 0.6338 43.65%
Real Estate (General/Diversified) 11 1.82 27.56% 9.39% 1.46 1.32% 1.47 0.4916 45.97%
Real Estate (Operations & Services) 52 1.30 57.34% 8.63% 0.85 4.50% 0.89 0.5133 50.05%
Recreation 68 1.21 31.64% 11.25% 0.95 4.09% 0.99 0.5114 50.41%
Reinsurance 4 1.35 37.59% 15.53% 1.02 9.16% 1.12 0.4123 21.20%
Restaurant/Dining 79 0.89 27.87% 15.14% 0.72 2.35% 0.74 0.3574 44.43%
Retail (Automotive) 30 1.18 50.19% 18.76% 0.83 1.34% 0.85 0.4353 48.06%
Retail (Building Supply) 5 1.44 19.46% 30.64% 1.27 1.52% 1.29 0.3399 50.71%
Retail (Distributors) 90 1.12 48.00% 16.84% 0.80 1.78% 0.81 0.4701 52.06%
Retail (General) 23 1.03 31.37% 21.36% 0.83 2.68% 0.85 0.3159 46.36%
Retail (Grocery and Food) 21 1.05 56.14% 22.94% 0.73 2.08% 0.75 0.4125 51.83%
Retail (Online) 46 1.40 7.52% 9.38% 1.31 6.18% 1.39 0.5190 70.16%
Retail (Special Lines) 128 1.07 41.45% 20.44% 0.81 4.50% 0.85 0.4280 51.42%
Rubber& Tires 4 1.02 87.74% 13.58% 0.58 11.24% 0.65 0.3456 49.54%
Semiconductor 100 1.21 10.75% 10.11% 1.11 5.22% 1.17 0.4111 57.12%
Semiconductor Equip 47 1.23 17.63% 6.88% 1.06 9.76% 1.17 0.3887 60.18%
Shipbuilding & Marine 14 1.36 53.62% 6.75% 0.91 3.49% 0.94 0.4613 71.45%
Shoe 13 0.84 7.34% 20.15% 0.80 3.53% 0.82 0.4250 40.80%
Software (Entertainment) 20 1.12 17.30% 1.46% 0.95 15.83% 1.13 0.6514 69.84%
Software (Internet) 327 1.29 5.59% 5.07% 1.22 5.58% 1.29 0.6319 72.48%
Software (System & Application) 259 1.10 9.70% 6.86% 1.01 4.58% 1.06 0.5374 61.85%
Steel 40 1.31 64.03% 13.99% 0.85 6.31% 0.90 0.3778 52.45%
Telecom (Wireless) 21 1.15 154.38% 5.76% 0.47 7.90% 0.51 0.5844 53.05%
Telecom. Equipment 126 1.24 11.72% 8.70% 1.12 6.22% 1.20 0.4811 62.74%
Telecom. Services 77 1.07 65.43% 11.83% 0.68 1.96% 0.69 0.5288 55.60%
Tobacco 20 1.09 19.75% 12.39% 0.93 2.06% 0.94 0.6449 41.74%
Transportation 21 0.86 21.03% 20.08% 0.73 4.11% 0.77 0.3829 42.36%
Transportation (Railroads) 10 1.05 20.21% 21.30% 0.90 1.76% 0.92 0.3456 30.73%
Trucking 30 1.32 66.66% 27.38% 0.89 2.72% 0.92 0.3604 48.49%
Unclassified 8 0.10 26.26% 3.93% 0.08 38.92% 0.14 0.6038 NA
Utility (General) 21 0.59 61.30% 30.59% 0.42 0.84% 0.42 0.1577 23.02%
Utility (Water) 19 1.09 50.17% 15.10% 0.76 0.66% 0.77 0.3330 38.21%
Total Market 7887 1.06 66.14% 10.76% 0.67 4.95% 0.70 0.4697 53.60%


Last Updated in January 2015
By Aswath Damodaran