Margins by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2017

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

    Net Income Based Operating Income Based EBITDA Based
Industry Name Number of firms Net 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
Advertising 41 6.04% 12.04% 11.43% 12.07% 11.46% 12.07% 11.46% 15.39% 32.80% 15.39%
Aerospace/Defense 96 7.15% 10.60% 9.45% 10.74% 9.57% 11.14% 9.98% 13.54% 20.24% 17.69%
Air Transport 18 10.79% 17.02% 13.11% 16.30% 12.56% 16.31% 12.56% 21.87% 25.51% 21.97%
Apparel 58 6.29% 11.41% 10.16% 11.31% 10.07% 11.32% 10.08% 14.63% 52.45% 14.76%
Auto & Truck 15 6.35% 5.34% 4.91% 5.39% 4.95% 5.44% 5.00% 9.37% 16.87% 13.91%
Auto Parts 63 4.76% 8.52% 7.63% 8.68% 7.78% 9.12% 8.22% 10.71% 18.03% 13.91%
Bank (Money Center) 10 24.50% 0.00% 0.00% -0.12% -0.09% -0.12% -0.09% 0.00% 52.15% 0.00%
Banks (Regional) 645 23.39% 0.00% 0.00% -0.13% -0.10% -0.13% -0.10% 0.00% 50.90% 0.00%
Beverage (Alcoholic) 25 19.13% 24.19% 21.56% 24.26% 21.63% 24.26% 21.62% 27.10% 52.27% 27.11%
Beverage (Soft) 36 12.81% 18.75% 17.65% 18.86% 17.75% 18.87% 17.77% 22.84% 60.37% 23.49%
Broadcasting 30 7.49% 23.00% 18.73% 23.09% 18.81% 23.08% 18.79% 27.02% 50.74% 27.02%
Brokerage & Investment Banking 45 13.42% 0.31% 0.27% -0.07% -0.06% -0.06% -0.05% 0.17% 46.54% 0.24%
Building Materials 41 6.77% 10.20% 7.81% 10.45% 8.00% 10.46% 8.02% 11.32% 27.60% 12.07%
Business & Consumer Services 165 4.61% 10.26% 8.97% 10.47% 9.15% 10.48% 9.16% 13.39% 33.93% 13.68%
Cable TV 14 11.68% 19.30% 15.38% 19.21% 15.31% 19.21% 15.31% 27.59% 57.58% 27.68%
Chemical (Basic) 45 3.20% 10.36% 9.56% 10.24% 9.45% 10.24% 9.45% 15.77% 23.60% 16.47%
Chemical (Diversified) 8 11.68% 12.58% 11.75% 12.50% 11.67% 12.32% 11.49% 17.22% 27.06% 21.17%
Chemical (Specialty) 100 5.26% 13.92% 12.59% 14.16% 12.80% 14.12% 12.76% 19.52% 39.58% 22.50%
Coal & Related Energy 38 -17.72% -15.34% -15.26% -14.27% -14.20% -14.08% -14.01% 24.50% 30.10% 24.85%
Computer Services 117 6.02% 8.42% 7.48% 8.61% 7.65% 8.73% 7.77% 11.71% 26.83% 14.10%
Computers/Peripherals 55 14.18% 19.85% 18.72% 19.82% 18.70% 19.83% 18.71% 24.42% 33.73% 29.50%
Construction Supplies 51 3.99% 9.07% 7.40% 9.23% 7.53% 9.05% 7.35% 15.56% 25.23% 18.38%
Diversified 24 9.96% 13.78% 12.19% 13.78% 12.19% 13.77% 12.18% 18.82% 26.65% 21.16%
Drugs (Biotechnology) 426 15.45% 28.14% 27.73% 27.89% 27.49% 31.16% 30.75% 33.79% 59.00% 64.63%
Drugs (Pharmaceutical) 164 14.19% 24.11% 23.50% 24.12% 23.50% 24.48% 23.87% 30.48% 58.94% 47.66%
Education 36 2.01% 7.68% 6.97% 7.84% 7.11% 8.01% 7.28% 12.09% 51.20% 13.23%
Electrical Equipment 119 6.71% 12.09% 11.38% 12.38% 11.65% 12.15% 11.42% 15.79% 35.70% 18.31%
Electronics (Consumer & Office) 24 -1.72% 2.33% 2.24% 2.16% 2.07% 3.38% 3.30% 10.18% 29.82% 18.75%
Electronics (General) 164 5.80% 8.13% 7.41% 8.28% 7.55% 8.60% 7.87% 13.46% 28.14% 19.01%
Engineering/Construction 48 0.57% 3.78% 3.21% 3.98% 3.37% 3.98% 3.37% 5.88% 12.45% 5.91%
Entertainment 79 12.58% 21.67% 20.48% 21.50% 20.32% 21.51% 20.33% 24.85% 41.86% 24.88%
Environmental & Waste Services 89 4.63% 11.60% 11.01% 12.04% 11.43% 12.00% 11.39% 19.32% 32.19% 19.35%
Farming/Agriculture 37 3.18% 4.41% 4.06% 4.53% 4.18% 4.53% 4.17% 7.26% 12.59% 8.52%
Financial Svcs. (Non-bank & Insurance) 258 21.77% 7.90% 6.25% 7.78% 6.16% 7.80% 6.19% 9.36% 39.93% 9.53%
Food Processing 87 6.73% 13.51% 11.53% 13.66% 11.65% 13.67% 11.67% 15.12% 30.93% 15.81%
Food Wholesalers 16 1.13% 2.79% 2.46% 2.85% 2.51% 2.85% 2.51% 3.80% 16.69% 3.80%
Furn/Home Furnishings 30 6.02% 9.67% 8.26% 9.98% 8.52% 10.02% 8.56% 11.72% 28.07% 13.34%
Green & Renewable Energy 25 -9.57% 21.51% 20.60% 16.70% 15.99% 16.74% 16.03% 38.62% 54.22% 38.90%
Healthcare Products 254 9.95% 15.67% 14.71% 15.91% 14.93% 16.49% 15.52% 20.33% 52.54% 27.71%
Healthcare Support Services 121 2.30% 4.56% 3.90% 4.60% 3.94% 4.61% 3.95% 5.20% 13.46% 5.28%
Heathcare Information and Technology 125 8.08% 13.27% 12.44% 13.38% 12.54% 13.85% 13.00% 18.81% 47.21% 25.20%
Homebuilding 33 6.17% 9.94% 7.23% 10.02% 7.29% 10.02% 7.29% 9.55% 19.80% 9.55%
Hospitals/Healthcare Facilities 38 0.52% 10.08% 8.87% 9.74% 8.56% 9.74% 8.56% 14.57% 18.38% 14.57%
Hotel/Gaming 69 8.06% 18.74% 16.63% 18.07% 16.04% 18.09% 16.06% 27.41% 45.57% 27.68%
Household Products 129 10.22% 18.31% 16.65% 18.39% 16.73% 18.34% 16.68% 21.67% 54.08% 23.69%
Information Services 64 12.94% 23.00% 19.23% 23.32% 19.50% 23.41% 19.59% 26.90% 48.16% 28.57%
Insurance (General) 19 4.30% 8.36% 6.83% 8.42% 6.87% 8.42% 6.87% 16.54% 30.34% 16.55%
Insurance (Life) 22 7.36% 12.47% 9.61% 12.51% 9.64% 12.51% 9.64% 14.37% 24.74% 14.37%
Insurance (Prop/Cas.) 50 7.20% 11.31% 8.79% 11.43% 8.88% 11.43% 8.88% 14.30% 25.19% 14.30%
Investments & Asset Management 156 18.39% 18.28% 16.87% 17.93% 16.55% 17.96% 16.58% 20.71% 53.80% 21.10%
Machinery 127 6.60% 13.07% 11.54% 13.34% 11.78% 13.30% 11.73% 16.66% 36.40% 18.82%
Metals & Mining 97 -25.15% 5.01% 4.95% 5.17% 5.11% 5.09% 5.03% 22.51% 26.73% 22.69%
Office Equipment & Services 24 4.81% 9.88% 8.23% 10.19% 8.49% 10.21% 8.51% 13.21% 38.38% 14.69%
Oil/Gas (Integrated) 7 0.56% -3.36% -3.32% -3.04% -3.00% -3.05% -3.01% 17.79% 23.77% 18.31%
Oil/Gas (Production and Exploration) 330 -85.74% -29.80% -29.70% -28.89% -28.80% -28.91% -28.81% 52.04% 66.87% 52.22%
Oil/Gas Distribution 78 1.55% 13.70% 13.30% 13.66% 13.26% 13.66% 13.26% 21.03% 25.94% 21.03%
Oilfield Svcs/Equip. 148 -4.28% 2.56% 2.45% 2.81% 2.69% 2.75% 2.63% 13.15% 17.89% 13.70%
Packaging & Container 26 3.78% 9.92% 7.49% 10.09% 7.62% 10.10% 7.63% 15.42% 26.35% 15.93%
Paper/Forest Products 23 8.30% 4.86% 4.16% 4.91% 4.20% 4.92% 4.21% 9.75% 19.26% 9.85%
Power 68 4.01% 18.73% 15.12% 18.44% 14.89% 18.42% 14.87% 31.23% 34.35% 31.34%
Precious Metals 109 -17.03% 14.44% 14.18% 14.61% 14.34% 14.74% 14.47% 31.24% 37.25% 32.53%
Publishing & Newspapers 37 1.59% 6.98% 5.98% 7.00% 6.00% 6.96% 5.96% 11.33% 35.23% 11.44%
R.E.I.T. 238 22.43% 26.44% 25.99% 22.99% 22.59% 22.99% 22.59% 45.43% 54.28% 45.46%
Real Estate (Development) 18 17.33% 6.78% 6.65% 5.21% 5.11% 5.21% 5.11% 14.49% 24.32% 14.49%
Real Estate (General/Diversified) 11 4.56% 21.21% 17.96% 21.24% 17.99% 21.24% 17.99% 30.14% 50.74% 30.14%
Real Estate (Operations & Services) 54 3.95% 7.75% 7.07% 7.90% 7.21% 7.90% 7.21% 11.43% 44.85% 11.43%
Recreation 66 6.70% 12.05% 10.46% 12.05% 10.46% 12.21% 10.61% 17.45% 40.06% 20.03%
Reinsurance 3 7.45% 11.39% 9.19% 11.31% 9.13% 11.31% 9.13% 11.98% 12.32% 11.98%
Restaurant/Dining 86 9.20% 15.21% 12.70% 13.65% 11.40% 13.65% 11.40% 20.03% 28.91% 20.06%
Retail (Automotive) 25 3.63% 6.22% 4.82% 5.63% 4.36% 5.63% 4.36% 7.36% 22.25% 7.36%
Retail (Building Supply) 6 6.25% 11.63% 9.29% 11.13% 8.89% 11.13% 8.89% 12.97% 33.53% 12.97%
Retail (Distributors) 88 3.52% 8.08% 6.71% 8.42% 6.99% 8.42% 6.99% 9.65% 28.28% 9.65%
Retail (General) 19 2.60% 4.74% 3.69% 4.33% 3.37% 4.33% 3.37% 7.01% 27.27% 7.01%
Retail (Grocery and Food) 14 1.89% 3.43% 2.61% 2.56% 1.94% 2.56% 1.94% 5.55% 24.27% 5.55%
Retail (Online) 57 2.97% 5.15% 4.71% 5.16% 4.72% 5.40% 4.97% 8.28% 33.84% 9.62%
Retail (Special Lines) 108 3.17% 6.66% 5.24% 6.19% 4.87% 6.20% 4.89% 8.59% 29.32% 8.65%
Rubber& Tires 4 2.96% 11.31% 10.17% 11.81% 10.61% 11.76% 10.57% 15.84% 31.06% 18.19%
Semiconductor 80 14.27% 20.66% 19.07% 20.94% 19.33% 21.78% 20.17% 30.96% 43.67% 50.38%
Semiconductor Equip 45 11.30% 16.79% 14.92% 17.00% 15.11% 17.54% 15.65% 22.28% 33.91% 34.91%
Shipbuilding & Marine 11 -7.62% 5.67% 5.26% 7.75% 7.19% 7.75% 7.19% 18.91% 30.51% 18.91%
Shoe 10 10.04% 12.29% 10.51% 12.10% 10.35% 12.10% 10.35% 14.29% 46.55% 14.40%
Software (Entertainment) 13 14.71% 17.28% 17.10% 17.30% 17.12% 18.65% 18.47% 19.39% 47.05% 38.52%
Software (Internet) 297 13.08% 22.09% 21.32% 21.69% 20.93% 23.55% 22.80% 23.87% 51.03% 40.40%
Software (System & Application) 236 11.21% 15.59% 14.71% 15.62% 14.73% 16.52% 15.63% 21.77% 47.46% 35.91%
Steel 38 -5.71% 0.46% 0.42% 0.64% 0.59% 0.64% 0.59% 7.26% 15.04% 7.35%
Telecom (Wireless) 17 -2.36% 5.54% 5.04% 4.29% 3.90% 4.29% 3.90% 21.49% 50.97% 21.53%
Telecom. Equipment 107 12.11% 18.06% 16.95% 18.27% 17.15% 18.81% 17.68% 22.09% 43.89% 34.41%
Telecom. Services 67 9.57% 19.19% 16.63% 18.74% 16.23% 18.73% 16.23% 33.07% 55.41% 33.61%
Tobacco 22 27.39% 40.14% 36.59% 40.28% 36.72% 40.30% 36.74% 39.66% 57.87% 40.80%
Transportation 17 4.99% 9.76% 8.06% 9.66% 7.97% 9.66% 7.97% 12.83% 15.05% 12.84%
Transportation (Railroads) 7 18.31% 32.39% 25.21% 32.14% 25.01% 32.14% 25.01% 45.49% 45.58% 45.49%
Trucking 30 3.84% 8.57% 6.28% 9.45% 6.92% 9.45% 6.92% 15.70% 22.76% 15.70%
Utility (General) 18 9.41% 19.83% 14.75% 19.79% 14.72% 19.79% 14.72% 31.19% 31.64% 31.25%
Utility (Water) 22 13.69% 30.10% 26.50% 29.97% 26.38% 29.98% 26.39% 42.91% 48.64% 42.98%
Total Market 7330 6.22% 10.38% 9.30% 10.28% 9.21% 10.40% 9.32% 15.92% 32.37% 18.24%
Total Market (without financials) 6100 5.10% 10.80% 9.91% 10.70% 9.81% 10.83% 9.94% 16.77% 31.43% 19.34%

 


Last Updated in January 2017
By Aswath Damodaran