Gross Income Based Net Income Based   Expense Ratios
Industry Name Number of firms Gross Margin Net Margin Pre-tax, Pre-stock compensation Operating Margin Pre-tax Unadjusted Operating Margin After-tax Unadjusted Operating Margin Pre-tax Lease adjusted Margin After-tax Lease Adjusted Margin Pre-tax Lease & R&D adj Margin After-tax Lease & R&D adj Margin EBITDA/Sales EBITDASG&A/Sales EBITDAR&D/Sales COGS/Sales R&D/Sales SG&A/ Sales Stock-Based Compensation/Sales Lease Expense/Sales
Advertising 40 27.61% 5.45% 13.39% 12.59% 11.79% 12.40% 11.61% 12.41% 11.62% 15.97% 28.31% 16.00% 72.39% 0.02% 12.34% 0.80% 5.94%
Aerospace/Defense 87 20.63% 7.22% 12.16% 11.72% 10.36% 11.81% 10.44% 11.63% 10.26% 13.47% 20.55% 17.34% 79.37% 3.86% 7.08% 0.44% 0.72%
Air Transport 17 32.49% 7.03% 13.81% 13.51% 10.19% 12.84% 9.68% 12.84% 9.69% 20.64% 24.40% 20.74% 67.51% 0.10% 3.76% 0.30% 5.29%
Apparel 51 49.73% 3.43% 11.66% 10.89% 9.77% 10.94% 9.81% 10.98% 9.84% 14.13% 52.78% 14.36% 50.27% 0.23% 38.65% 0.76% 4.63%
Auto & Truck 18 12.22% 2.07% 4.31% 3.93% 3.61% 3.96% 3.64% 4.21% 3.89% 10.25% 18.15% 15.13% 87.78% 4.89% 7.90% 0.39% 0.27%
Auto Parts 62 17.64% 5.32% 9.48% 8.96% 8.27% 9.08% 8.38% 9.55% 8.85% 11.05% 18.16% 14.51% 82.36% 3.47% 7.12% 0.52% 0.68%
Bank (Money Center) 11 100.00% 26.03% 2.35% 0.00% 0.00% -0.07% -0.05% -0.07% -0.05% 0.00% 51.03% 0.00% 0.00% 0.00% 51.03% 2.35% 2.93%
Banks (Regional) 612 99.77% 23.82% 1.47% 0.00% 0.00% -0.16% -0.12% -0.16% -0.12% 0.00% 50.10% 0.00% 0.23% 0.00% 50.10% 1.47% 2.97%
Beverage (Alcoholic) 28 48.70% 21.18% 24.06% 23.45% 21.08% 23.41% 21.04% 23.41% 21.05% 20.26% 44.64% 20.26% 51.30% 0.00% 24.38% 0.61% 0.57%
Beverage (Soft) 35 56.02% 10.86% 19.77% 19.19% 17.96% 19.32% 18.09% 19.33% 18.09% 22.71% 59.24% 23.36% 43.98% 0.65% 36.54% 0.58% 0.71%
Broadcasting 27 52.64% 4.09% 24.22% 23.28% 19.28% 23.45% 19.42% 23.45% 19.43% 28.92% 51.80% 28.93% 47.36% 0.01% 22.88% 0.95% 3.54%
Brokerage & Investment Banking 42 69.02% 15.01% 3.48% 0.34% 0.29% 0.11% 0.09% 0.11% 0.09% 0.38% 41.06% 0.44% 30.98% 0.06% 40.69% 3.14% 2.77%
Building Materials 39 27.02% 6.30% 10.69% 10.06% 7.71% 10.31% 7.91% 10.33% 7.92% 12.50% 28.81% 13.22% 72.98% 0.71% 16.31% 0.64% 1.06%
Business & Consumer Services 169 32.25% 5.19% 11.01% 10.15% 9.03% 10.49% 9.32% 10.53% 9.36% 13.05% 32.31% 13.35% 67.75% 0.30% 19.26% 0.86% 1.84%
Cable TV 14 60.80% 7.88% 19.24% 18.31% 14.24% 18.25% 14.19% 18.25% 14.19% 29.14% 54.92% 29.21% 39.20% 0.08% 25.78% 0.92% 1.01%
Chemical (Basic) 38 19.18% 5.77% 11.36% 10.89% 9.83% 10.91% 9.85% 10.94% 9.87% 13.41% 20.68% 14.04% 80.82% 0.63% 7.27% 0.47% 1.24%
Chemical (Diversified) 7 22.29% 5.58% 12.70% 12.01% 10.61% 12.03% 10.63% 12.24% 10.84% 15.45% 22.19% 18.19% 77.71% 2.73% 6.74% 0.70% 1.13%
Chemical (Specialty) 99 36.42% 7.53% 13.90% 13.24% 11.96% 13.50% 12.20% 13.56% 12.26% 18.20% 38.20% 21.20% 63.58% 3.00% 20.00% 0.66% 1.60%
Coal & Related Energy 30 23.18% 12.62% 8.51% 7.79% 7.41% 8.87% 8.43% 8.71% 8.27% 9.33% 14.93% 9.55% 76.82% 0.23% 5.60% 0.72% 2.91%
Computer Services 111 25.42% 5.93% 8.69% 8.13% 7.37% 8.30% 7.52% 8.35% 7.57% 10.83% 25.55% 13.10% 74.58% 2.27% 14.72% 0.56% 1.07%
Computers/Peripherals 58 34.69% 14.34% 21.61% 19.81% 18.81% 19.76% 18.77% 20.01% 19.01% 24.14% 33.61% 29.51% 65.31% 5.37% 9.47% 1.80% 0.61%
Construction Supplies 49 21.66% 4.78% 9.98% 9.54% 7.89% 9.62% 7.95% 9.62% 7.95% 12.74% 22.23% 15.41% 78.34% 2.67% 9.49% 0.44% 0.81%
Diversified 24 20.62% 8.54% 13.21% 12.94% 11.37% 12.95% 11.38% 13.01% 11.44% 18.15% 25.32% 20.51% 79.38% 2.36% 7.17% 0.27% 0.87%
Drugs (Biotechnology) 459 72.99% 12.57% 30.25% 25.01% 24.67% 24.92% 24.58% 26.17% 25.83% 31.34% 57.53% 63.13% 27.01% 31.79% 26.19% 5.23% 0.88%
Drugs (Pharmaceutical) 185 70.96% 14.05% 25.06% 23.61% 23.11% 23.63% 23.13% 25.21% 24.72% 31.94% 59.76% 50.03% 29.04% 18.09% 27.82% 1.45% 0.63%
Education 34 41.67% 1.38% 9.56% 8.33% 7.64% 8.17% 7.50% 8.26% 7.58% 13.43% 44.65% 14.51% 58.33% 1.08% 31.22% 1.24% 3.83%
Electrical Equipment 118 32.85% 6.21% 12.43% 11.62% 11.03% 11.89% 11.29% 12.00% 11.39% 14.98% 34.96% 17.45% 67.15% 2.47% 19.99% 0.81% 1.32%
Electronics (Consumer & Office) 24 32.53% -10.63% -0.13% -3.36% -3.16% -3.36% -3.16% -4.17% -3.97% -7.25% 17.19% 4.80% 67.47% 12.05% 24.44% 3.24% 0.98%
Electronics (General) 167 29.41% 6.67% 10.42% 9.32% 8.55% 9.48% 8.69% 9.81% 9.02% 13.60% 27.76% 19.08% 70.59% 5.48% 14.16% 1.10% 0.91%
Engineering/Construction 49 11.15% 1.99% 4.49% 4.07% 3.53% 4.29% 3.71% 4.28% 3.71% 5.63% 12.27% 5.64% 88.85% 0.01% 6.64% 0.42% 1.73%
Entertainment 90 41.91% 11.50% 21.66% 20.93% 19.79% 20.72% 19.59% 20.72% 19.59% 24.26% 40.76% 24.29% 58.09% 0.03% 16.51% 0.73% 2.06%
Environmental & Waste Services 87 32.86% 4.41% 12.62% 12.03% 11.50% 12.54% 11.98% 12.54% 11.98% 19.78% 32.71% 19.82% 67.14% 0.03% 12.93% 0.58% 2.71%
Farming/Agriculture 34 11.02% 3.08% 4.55% 4.36% 4.03% 4.50% 4.15% 4.50% 4.16% 7.18% 12.55% 8.40% 88.98% 1.22% 5.38% 0.19% 0.63%
Financial Svcs. (Non-bank & Insurance) 264 81.50% 26.46% 8.50% 7.45% 5.97% 7.28% 5.84% 7.39% 5.94% 7.76% 37.90% 8.08% 18.50% 0.31% 30.14% 1.05% 1.27%
Food Processing 87 29.05% 7.37% 14.51% 14.09% 11.96% 14.21% 12.06% 14.21% 12.06% 17.09% 31.50% 17.74% 70.95% 0.65% 14.41% 0.41% 0.88%
Food Wholesalers 15 16.96% 1.34% 3.07% 2.93% 2.58% 2.98% 2.62% 2.98% 2.62% 4.15% 18.10% 4.15% 83.04% 0.00% 13.95% 0.14% 0.43%
Furn/Home Furnishings 31 25.90% 5.89% 9.40% 9.12% 7.97% 9.42% 8.24% 9.48% 8.30% 12.57% 28.94% 14.26% 74.10% 1.69% 16.37% 0.29% 1.40%
Green & Renewable Energy 22 57.41% 1.27% 17.46% 16.01% 15.63% 11.76% 11.48% 11.73% 11.45% 55.01% 70.52% 55.22% 42.59% 0.21% 15.51% 1.44% 2.20%
Healthcare Products 251 57.45% 8.52% 16.88% 15.16% 14.43% 15.34% 14.60% 15.98% 15.25% 21.04% 53.56% 28.45% 42.55% 7.41% 32.52% 1.73% 0.88%
Healthcare Support Services 115 14.34% 2.58% 4.81% 4.61% 3.98% 4.68% 4.04% 4.67% 4.03% 5.28% 13.40% 5.33% 85.66% 0.05% 8.12% 0.20% 0.34%
Heathcare Information and Technology 112 51.59% 8.54% 15.65% 13.63% 12.81% 13.77% 12.95% 14.34% 13.52% 18.91% 47.55% 26.02% 48.41% 7.11% 28.64% 2.03% 1.32%
Homebuilding 32 20.33% 5.98% 10.45% 10.02% 7.63% 10.11% 7.70% 10.11% 7.70% 9.98% 20.20% 9.98% 79.67% 0.00% 10.22% 0.44% 0.37%
Hospitals/Healthcare Facilities 35 36.43% 0.61% 9.69% 9.22% 8.24% 8.81% 7.88% 8.81% 7.88% 14.72% 18.67% 14.72% 63.57% 0.00% 3.96% 0.47% 2.21%
Hotel/Gaming 70 54.39% 8.25% 21.32% 20.35% 17.50% 19.60% 16.85% 19.59% 16.84% 25.89% 44.27% 26.15% 45.61% 0.26% 18.38% 0.98% 1.34%
Household Products 131 50.87% 13.90% 18.90% 18.15% 16.81% 18.24% 16.90% 18.30% 16.96% 21.99% 54.16% 24.02% 49.13% 2.03% 32.18% 0.76% 1.01%
Information Services 61 50.84% 13.39% 26.77% 25.03% 21.05% 25.32% 21.30% 25.40% 21.38% 28.97% 49.78% 30.28% 49.16% 1.31% 20.81% 1.73% 1.58%
Insurance (General) 21 25.69% 2.41% 5.58% 5.03% 4.29% 5.11% 4.36% 5.11% 4.35% 12.66% 25.79% 12.67% 74.31% 0.01% 13.12% 0.54% 0.95%
Insurance (Life) 25 27.63% 4.85% 8.55% 8.19% 6.93% 8.21% 6.95% 8.21% 6.95% 8.65% 19.12% 8.65% 72.37% 0.00% 10.48% 0.36% 0.44%
Insurance (Prop/Cas.) 50 26.66% 5.17% 9.57% 9.20% 7.50% 9.30% 7.58% 9.30% 7.58% 12.09% 22.66% 12.09% 73.34% 0.00% 10.57% 0.37% 0.60%
Investments & Asset Management 165 69.81% 22.54% 22.99% 20.10% 18.44% 19.95% 18.30% 19.98% 18.32% 19.18% 51.39% 19.65% 30.19% 0.48% 32.21% 2.88% 1.66%
Machinery 126 34.67% 8.27% 14.16% 13.35% 11.47% 13.60% 11.69% 13.68% 11.77% 15.94% 35.61% 18.07% 65.33% 2.13% 19.67% 0.81% 0.99%
Metals & Mining 102 30.49% 6.03% 18.22% 17.82% 17.52% 17.94% 17.65% 17.93% 17.63% 19.51% 23.29% 19.65% 69.51% 0.14% 3.79% 0.40% 0.52%
Office Equipment & Services 24 33.90% 2.25% 8.62% 8.06% 6.58% 8.56% 6.99% 8.60% 7.02% 11.54% 35.67% 13.33% 66.10% 1.79% 24.13% 0.56% 1.54%
Oil/Gas (Integrated) 5 38.45% 5.64% 3.19% 2.76% 2.46% 2.94% 2.61% 2.93% 2.61% 11.05% 16.36% 11.48% 61.55% 0.43% 5.31% 0.43% 1.20%
Oil/Gas (Production and Exploration) 311 53.64% -6.62% 2.17% -0.20% -0.19% 0.26% 0.25% 0.23% 0.23% 19.88% 32.18% 19.96% 46.36% 0.08% 12.30% 2.37% 1.32%
Oil/Gas Distribution 16 38.39% 2.04% 18.37% 17.63% 16.78% 17.80% 16.94% 17.80% 16.94% 27.57% 34.75% 27.57% 61.61% 0.00% 7.17% 0.75% 1.02%
Oilfield Svcs/Equip. 130 13.05% 0.73% 3.42% 3.03% 2.87% 3.23% 3.06% 3.20% 3.03% 6.04% 10.48% 6.46% 86.95% 0.42% 4.43% 0.38% 1.36%
Packaging & Container 25 23.33% 5.25% 10.29% 9.84% 7.64% 10.00% 7.77% 10.00% 7.77% 14.45% 25.03% 14.95% 76.67% 0.50% 10.58% 0.44% 0.94%
Paper/Forest Products 21 18.97% 2.26% 5.77% 5.40% 4.63% 5.43% 4.66% 5.44% 4.67% 9.64% 19.47% 9.76% 81.03% 0.12% 9.83% 0.37% 0.63%
Power 61 39.42% 13.93% 18.76% 18.33% 14.61% 17.94% 14.30% 17.92% 14.27% 32.15% 34.52% 32.22% 60.58% 0.07% 2.37% 0.43% 1.58%
Precious Metals 111 44.59% 3.55% 18.72% 17.24% 16.86% 17.38% 17.00% 17.39% 17.01% 36.38% 44.47% 37.76% 55.41% 1.38% 8.08% 1.49% 0.63%
Publishing & Newspapers 41 39.29% -1.18% 8.10% 7.60% 6.70% 7.43% 6.55% 7.43% 6.54% 11.24% 37.42% 11.37% 60.71% 0.14% 26.18% 0.49% 1.60%
R.E.I.T. 244 61.96% 24.44% 27.45% 26.03% 25.52% 22.31% 21.87% 22.31% 21.87% 45.83% 54.53% 45.86% 38.04% 0.02% 8.70% 1.42% 2.42%
Real Estate (Development) 20 39.70% 13.45% 15.18% 14.05% 13.24% 11.59% 10.91% 11.59% 10.91% 26.87% 39.35% 26.87% 60.30% 0.00% 12.48% 1.13% 0.75%
Real Estate (General/Diversified) 10 55.30% 8.99% 18.85% 14.53% 12.68% 14.64% 12.77% 14.64% 12.77% 17.30% 57.82% 17.30% 44.70% 0.00% 40.52% 4.32% 1.05%
Real Estate (Operations & Services) 60 46.92% 5.18% 8.71% 7.52% 6.86% 7.56% 6.89% 7.58% 6.92% 10.41% 45.76% 10.54% 53.08% 0.12% 35.34% 1.19% 2.20%
Recreation 70 38.60% 2.12% 11.74% 10.90% 9.80% 10.92% 9.81% 11.09% 9.98% 16.51% 39.80% 19.38% 61.40% 2.87% 23.29% 0.84% 1.61%
Reinsurance 3 15.89% 5.26% 7.70% 7.35% 6.54% 7.31% 6.51% 7.31% 6.51% 11.43% 11.85% 11.43% 84.11% 0.00% 0.41% 0.36% 0.28%
Restaurant/Dining 81 29.81% 9.98% 16.93% 16.25% 13.81% 14.55% 12.37% 14.55% 12.36% 20.52% 29.25% 20.54% 70.19% 0.02% 8.74% 0.68% 4.98%
Retail (Automotive) 25 21.69% 3.27% 6.17% 5.98% 4.84% 5.39% 4.36% 5.39% 4.36% 7.18% 22.23% 7.18% 78.31% 0.00% 15.06% 0.19% 1.67%
Retail (Building Supply) 8 34.15% 7.00% 12.31% 12.08% 10.23% 11.63% 9.84% 11.63% 9.84% 13.33% 33.51% 13.33% 65.85% 0.00% 20.18% 0.23% 0.99%
Retail (Distributors) 92 27.87% 3.93% 7.98% 7.66% 6.57% 7.97% 6.84% 7.97% 6.84% 8.40% 27.09% 8.41% 72.13% 0.01% 18.69% 0.32% 1.53%
Retail (General) 18 25.45% 2.32% 4.70% 4.50% 3.47% 4.21% 3.24% 4.21% 3.24% 6.86% 27.24% 6.86% 74.55% 0.00% 20.38% 0.19% 0.90%
Retail (Grocery and Food) 14 22.21% 1.62% 2.78% 2.64% 2.09% 2.33% 1.84% 2.33% 1.84% 4.91% 22.75% 4.91% 77.79% 0.00% 17.83% 0.14% 0.82%
Retail (Online) 61 43.76% 3.72% 6.07% 3.90% 3.60% 3.76% 3.48% 4.14% 3.86% 8.43% 36.30% 9.81% 56.24% 1.38% 27.87% 2.17% 0.84%
Retail (Special Lines) 106 26.91% 3.18% 6.53% 6.26% 4.88% 5.82% 4.54% 5.82% 4.54% 8.57% 28.87% 8.63% 73.09% 0.06% 20.31% 0.27% 3.87%
Rubber& Tires 4 24.18% 6.64% 9.99% 9.83% 9.05% 10.31% 9.50% 10.33% 9.52% 17.17% 31.51% 19.64% 75.82% 2.47% 14.34% 0.16% 1.86%
Semiconductor 72 54.69% 18.10% 27.55% 24.93% 22.93% 25.02% 23.01% 26.07% 24.06% 31.03% 42.13% 48.85% 45.31% 17.82% 11.10% 2.62% 0.55%
Semiconductor Equip 45 43.72% 18.74% 23.92% 22.35% 20.45% 22.55% 20.63% 23.66% 21.74% 24.29% 34.30% 35.26% 56.28% 10.96% 10.01% 1.57% 0.51%
Shipbuilding & Marine 9 23.78% -1.80% 6.78% 5.89% 5.40% 7.40% 6.79% 7.40% 6.79% 13.54% 23.79% 13.54% 76.22% 0.00% 10.25% 0.89% 6.15%
Shoe 11 43.73% 9.44% 12.44% 11.77% 9.80% 11.39% 9.48% 11.37% 9.47% 14.39% 46.22% 14.49% 56.27% 0.10% 31.82% 0.67% 2.57%
Software (Entertainment) 13 66.18% 15.97% 24.44% 20.55% 20.10% 20.57% 20.11% 22.05% 21.60% 23.98% 50.76% 42.71% 33.82% 18.73% 26.77% 3.89% 1.23%
Software (Internet) 305 66.93% 23.83% 32.82% 24.60% 23.98% 24.31% 23.70% 26.04% 25.43% 26.20% 51.87% 42.21% 33.07% 16.02% 25.67% 8.22% 1.21%
Software (System & Application) 255 66.61% 14.59% 25.92% 19.17% 18.41% 19.25% 18.49% 21.09% 20.33% 25.94% 54.58% 43.89% 33.39% 17.95% 28.63% 6.74% 1.52%
Steel 37 16.05% 3.51% 7.51% 7.14% 6.64% 7.29% 6.77% 7.29% 6.78% 8.09% 15.13% 8.18% 83.95% 0.09% 7.04% 0.37% 0.59%
Telecom (Wireless) 18 56.55% 1.01% 9.66% 9.02% 8.31% 8.77% 8.08% 8.78% 8.08% 25.80% 54.41% 25.85% 43.45% 0.05% 28.62% 0.64% 7.74%
Telecom. Equipment 104 52.90% 13.76% 21.35% 18.21% 16.73% 18.37% 16.87% 18.51% 17.02% 23.73% 44.96% 35.97% 47.10% 12.24% 21.23% 3.14% 0.98%
Telecom. Services 66 55.77% 8.38% 18.50% 18.05% 16.59% 17.58% 16.16% 17.58% 16.16% 32.77% 55.18% 33.33% 44.23% 0.56% 22.40% 0.46% 2.76%
Tobacco 24 58.77% 43.37% 40.81% 40.45% 38.32% 40.60% 38.47% 40.62% 38.48% 41.43% 59.59% 42.65% 41.23% 1.22% 18.16% 0.36% 0.77%
Transportation 18 21.04% 4.44% 8.42% 7.87% 6.14% 7.72% 6.02% 7.72% 6.03% 11.38% 13.44% 11.39% 78.96% 0.01% 2.06% 0.55% 2.75%
Transportation (Railroads) 8 47.25% 18.68% 35.10% 34.49% 26.27% 34.33% 26.15% 34.33% 26.15% 41.59% 41.68% 41.59% 52.75% 0.00% 0.09% 0.62% 3.22%
Trucking 30 20.36% 1.99% 7.23% 6.96% 5.53% 7.65% 6.08% 7.66% 6.08% 14.34% 21.80% 14.38% 79.64% 0.04% 7.46% 0.27% 4.78%
Utility (General) 18 38.53% 9.48% 19.90% 19.50% 13.48% 19.39% 13.40% 19.39% 13.40% 30.01% 30.47% 30.03% 61.47% 0.02% 0.46% 0.40% 0.42%
Utility (Water) 23 54.32% 12.96% 28.97% 28.34% 24.06% 28.31% 24.03% 28.27% 24.00% 38.96% 47.83% 39.29% 45.68% 0.33% 8.88% 0.63% 0.66%
Total Market 7247 36.57% 7.90% 11.64% 10.66% 9.59% 10.56% 9.50% 10.70% 9.64% 15.02% 31.34% 17.41% 63.43% 2.39% 16.32% 0.98% 1.45%
Total Market (without financials) 6057 33.17% 6.89% 12.22% 11.29% 10.40% 11.19% 10.30% 11.35% 10.46% 16.03% 30.56% 18.68% 66.83% 2.66% 14.53% 0.93% 1.41%