Revenue Multiples by Sector

Data Used: Value Line database, of 6870 firms

Date of Analysis: Data used is as of January 2009

can be obtained by clicking here

on which companies are included in each industry


Industry Name Number of Firms Price/Sales Net Margin Expected Growth Payout Beta Value/Sales After-tax Operating Margin
Advertising 30 0.51 2.26% 18.44% 7.17% 1.43 0.94 11.95%
Aerospace/Defense 66 0.65 3.57% 15.52% 12.42% 1.27 0.73 8.31%
Air Transport 44 0.44 0.17% 13.59% 9.33% 1.15 0.65 11.05%
Apparel 53 0.49 2.69% 11.83% 8.42% 1.14 0.64 10.18%
Auto & Truck 20 0.22 0.57% 11.80% 8.71% 1.49 0.51 7.96%
Auto Parts 54 0.18 0.90% 13.22% 17.95% 1.56 0.29 5.56%
Bank 477 NA NA 8.77% 36.07% 0.71 NA NA
Bank (Canadian) 8 NA NA 5.33% 46.75% 0.86 NA NA
Bank (Midwest) 39 NA NA 5.03% 54.64% 0.91 NA NA
Beverage 41 1.73 5.77% 11.77% 23.38% 0.95 1.99 14.75%
Biotechnology 108 5.81 8.33% 20.96% 0.49% 1.25 5.71 16.90%
Building Materials 52 0.44 2.23% 7.68% 14.30% 1.39 0.85 10.51%
Cable TV 25 1.20 3.28% 19.43% 11.78% 1.56 2.20 19.49%
Canadian Energy 12 1.21 9.48% 10.23% 11.45% 1.22 1.61 28.84%
Chemical (Basic) 19 0.73 6.40% 24.21% 16.37% 1.26 0.88 11.97%
Chemical (Diversified) 33 0.99 5.55% 12.78% 19.75% 1.21 1.15 14.14%
Chemical (Specialty) 88 0.71 2.69% 11.12% 17.73% 1.18 0.90 9.75%
Coal 18 0.88 4.53% 20.83% 20.71% 1.98 1.26 15.76%
Computer Software/Svcs 322 2.08 8.24% 18.83% 10.17% 1.22 1.93 17.24%
Computers/Peripherals 125 0.74 3.55% 20.79% 6.33% 1.29 0.70 8.78%
Diversified Co. 113 0.83 4.85% 13.46% 20.12% 1.25 1.96 17.93%
Drug 342 2.57 8.38% 18.46% 25.99% 1.16 2.63 22.65%
E-Commerce 54 2.16 3.38% 20.51% 1.20% 1.50 1.86 8.76%
Educational Services 34 2.91 5.63% 23.73% 2.31% 0.84 2.75 11.69%
Electric Util. (Central) 24 0.81 3.61% 6.95% 31.65% 0.82 1.65 14.67%
Electric Utility (East) 26 1.13 4.49% 7.95% 29.52% 0.74 1.93 17.24%
Electric Utility (West) 16 0.85 3.72% 4.93% 24.77% 0.79 1.57 16.51%
Electrical Equipment 83 0.89 4.96% 13.79% 13.79% 1.37 1.00 11.48%
Electronics 173 0.29 1.40% 16.93% 7.35% 1.31 0.32 5.61%
Entertainment 84 0.77 3.66% 14.42% 11.91% 1.66 1.27 15.00%
Entertainment Tech 33 1.34 -1.45% 15.26% NA 1.45 0.85 1.77%
Environmental 79 1.18 3.48% 19.52% 22.11% 1.11 1.73 13.42%
Financial Svcs. (Div.) 296 2.14 -22.60% 10.19% 22.83% 1.27 6.96 76.59%
Food Processing 109 0.77 2.98% 15.45% 14.65% 0.80 1.01 8.59%
Food Wholesalers 18 0.24 0.94% 12.88% 11.15% 0.73 0.36 3.75%
Foreign Electronics 10 0.34 1.67% 11.25% 9.77% 1.18 0.32 7.43%
Furn/Home Furnishings 34 0.29 1.43% 3.94% 13.14% 1.29 0.45 7.04%
Grocery 14 0.70 1.06% 11.44% 6.47% 0.84 0.79 3.81%
Healthcare Information 29 2.01 7.79% 19.86% 3.84% 1.05 2.08 14.16%
Heavy Construction 14 0.56 2.23% 17.14% 3.83% 1.48 0.49 3.85%
Homebuilding 32 0.27 -10.34% 10.13% NA 1.36 0.58 -16.36%
Hotel/Gaming 68 0.66 3.26% 15.15% 10.47% 1.70 1.50 15.26%
Household Products 26 1.71 5.90% 12.80% 21.58% 1.08 2.05 15.33%
Human Resources 31 0.24 1.20% 16.16% 7.33% 1.44 0.23 3.31%
Industrial Services 167 0.55 2.03% 14.60% 5.16% 1.20 0.71 8.27%
Information Services 34 1.65 5.92% 13.74% 5.47% 1.22 1.68 14.72%
Insurance (Life) 35 NA NA 9.00% 23.35% 1.17 NA NA
Insurance (Prop/Cas.) 78 NA NA 9.59% 14.29% 0.91 NA NA
Internet 208 2.60 6.53% 20.31% 0.20% 1.41 2.22 13.94%
Investment Co. 17 NA NA 0.00% NA 0.83 NA NA
Investment Co.(Foreign) 16 NA NA 0.00% 36.72% 1.31 NA NA
Machinery 124 0.50 3.49% 15.12% 10.21% 1.39 0.70 9.49%
Manuf. Housing/RV 18 0.17 -1.61% 6.79% 9.05% 1.32 0.17 2.37%
Maritime 56 0.85 13.32% 8.91% 17.67% 1.30 2.23 29.09%
Medical Services 160 0.45 2.38% 15.05% 0.86% 1.10 0.59 8.16%
Medical Supplies 252 1.03 3.60% 18.56% 15.25% 1.17 1.08 8.54%
Metal Fabricating 35 0.57 2.71% 10.14% 10.49% 1.56 0.59 10.22%
Metals & Mining (Div.) 78 1.29 5.94% 9.13% 10.00% 1.69 1.49 25.33%
Natural Gas (Div.) 34 1.29 9.41% 11.83% 13.80% 1.20 2.00 23.75%
Natural Gas Utility 25 0.60 2.30% 5.63% 30.14% 0.69 1.09 10.36%
Newspaper 16 0.62 2.18% -8.44% 9.12% 1.16 1.12 16.06%
Office Equip/Supplies 26 0.36 1.74% 12.12% 10.66% 1.11 0.52 6.92%
Oil/Gas Distribution 19 0.77 4.25% 8.88% 39.70% 0.89 1.36 12.24%
Oilfield Svcs/Equip. 112 0.94 8.24% 13.03% 6.06% 1.56 1.24 19.65%
Packaging & Container 33 0.41 1.97% 11.79% 12.39% 1.27 0.72 10.04%
Paper/Forest Products 38 0.36 0.80% 7.84% 28.92% 1.20 0.74 10.31%
Petroleum (Integrated) 25 0.60 5.11% 6.23% 14.04% 1.34 0.65 10.45%
Petroleum (Producing) 188 0.96 6.99% 15.49% 5.13% 1.24 1.29 26.43%
Pharmacy Services 19 0.47 1.43% 16.55% 6.20% 0.94 0.56 4.13%
Power 66 0.87 2.50% 30.08% 0.19% 1.63 1.54 12.74%
Precious Metals 75 4.55 9.32% 18.07% 19.95% 1.41 4.72 23.79%
Precision Instrument 90 0.97 4.11% 13.08% 4.96% 1.47 0.92 12.59%
Property Management 17 0.84 4.02% 12.95% 23.90% 1.38 2.90 27.99%
Publishing 27 0.39 1.30% 10.85% 80.61% 1.24 0.89 10.27%
R.E.I.T. 144 2.76 61.19% 9.01% 115.46% 1.35 4.05 16.08%
Railroad 15 1.47 7.24% 13.41% 14.10% 1.25 2.03 20.60%
Recreation 64 0.77 4.49% 8.51% 21.67% 1.41 1.16 15.62%
Reinsurance 11 NA NA 11.06% 12.85% 0.91 NA NA
Restaurant 68 1.30 4.10% 13.02% 21.18% 1.26 1.57 13.16%
Retail (Special Lines) 155 0.37 1.82% 11.61% 9.70% 1.26 0.40 6.06%
Retail Automotive 16 0.28 1.26% 8.35% 1.96% 1.31 0.47 4.31%
Retail Building Supply 8 0.58 2.26% 3.92% 14.55% 1.01 0.72 7.31%
Retail Store 38 0.43 1.56% 10.38% 11.18% 1.01 0.54 4.47%
Securities Brokerage 32 0.40 -1.40% 16.29% 28.02% 1.37 1.82 25.61%
Semiconductor 122 1.52 4.69% 18.48% 21.82% 1.81 1.31 21.97%
Semiconductor Equip 16 0.97 4.57% 11.42% 5.01% 1.78 0.81 17.41%
Shoe 19 0.95 1.68% 7.04% 11.89% 1.23 0.84 8.44%
Steel (General) 20 0.46 4.36% 9.65% 9.43% 1.71 0.55 8.29%
Steel (Integrated) 14 0.41 5.67% 8.54% 6.35% 1.96 0.59 14.41%
Telecom. Equipment 110 1.12 2.81% 15.00% 13.06% 1.49 0.90 10.62%
Telecom. Services 140 1.18 3.45% 14.60% 21.11% 1.43 1.69 28.38%
Thrift 234 NA NA 9.60% 64.16% 0.66 NA NA
Tobacco 12 1.39 3.00% 4.70% 32.09% 0.71 1.47 6.66%
Toiletries/Cosmetics 23 0.76 3.04% 10.50% 16.72% 0.95 0.98 7.97%
Trucking 33 0.35 0.95% 12.06% 8.06% 1.17 0.75 8.54%
Utility (Foreign) 5 0.59 0.01% 20.00% 0.00% 1.23 0.90 9.47%
Water Utility 16 2.10 3.63% 10.50% 274.15% 0.86 3.80 25.93%
Wireless Networking 57 1.89 3.52% 17.02% 1.53% 1.54 2.36 11.63%
Public/Private Equity 10 0.88 22.90% 1.25% 23.46% 2.08 4.01 47.57%
Funeral Services 6 0.88 2.96% 14.13% 17.83% 1.41 1.40 13.16%
Total Market 6870 0.94 3.44% 13.46% 16.22% 1.19 1.28 14.61%


Last Updated in January 2009
By Aswath Damodaran