Total Betas by Sector (for computing private company costs of equity) - 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/totalbeta.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 Average Unlevered Beta Average Levered Beta Average correlation Total Unlevered Beta Total Levered Beta
Advertising 52 0.83 1.18 16.05% 5.15 7.36
Aerospace/Defense 93 1.06 1.16 30.81% 3.43 3.76
Air Transport 22 0.61 0.98 31.63% 1.93 3.09
Apparel 64 0.86 0.99 19.57% 4.39 5.07
Auto & Truck 22 0.59 1.09 22.34% 2.64 4.90
Auto Parts 75 1.14 1.35 25.75% 4.44 5.24
Bank (Money Center) 13 0.34 0.81 42.81% 0.79 1.88
Banks (Regional) 676 0.37 0.53 22.19% 1.68 2.37
Beverage (Alcoholic) 22 0.89 1.06 18.50% 4.83 5.71
Beverage (Soft) 46 0.98 1.14 15.84% 6.16 7.18
Broadcasting 28 0.83 1.30 28.26% 2.95 4.59
Brokerage & Investment Banking 46 0.41 1.16 30.44% 1.35 3.81
Building Materials 39 0.93 1.12 36.49% 2.54 3.06
Business & Consumer Services 177 1.00 1.19 24.47% 4.07 4.88
Cable TV 18 0.70 0.91 30.01% 2.32 3.04
Chemical (Basic) 46 0.75 0.94 20.26% 3.72 4.62
Chemical (Diversified) 10 0.99 1.17 46.95% 2.10 2.50
Chemical (Specialty) 103 0.91 1.03 31.84% 2.87 3.22
Coal & Related Energy 42 0.83 1.64 18.97% 4.39 8.66
Computer Services 119 0.99 1.16 21.91% 4.50 5.29
Computers/Peripherals 64 1.17 1.21 23.71% 4.94 5.11
Construction Supplies 55 1.22 1.60 38.26% 3.19 4.18
Diversified 23 0.70 1.00 39.14% 1.79 2.55
Drugs (Biotechnology) 400 1.06 1.10 15.01% 7.07 7.36
Drugs (Pharmaceutical) 151 0.95 1.03 16.78% 5.66 6.12
Education 42 0.95 1.13 19.88% 4.76 5.67
Electrical Equipment 126 1.14 1.24 22.39% 5.11 5.53
Electronics (Consumer & Office) 28 1.38 1.37 15.42% 8.94 8.90
Electronics (General) 189 1.01 1.03 21.02% 4.83 4.89
Engineering/Construction 56 1.19 1.31 30.11% 3.96 4.34
Entertainment 84 0.99 1.21 16.97% 5.81 7.11
Environmental & Waste Services 103 0.94 1.28 17.27% 5.45 7.44
Farming/Agriculture 37 0.58 0.84 24.29% 2.38 3.47
Financial Svcs. (Non-bank & Insurance) 288 0.06 0.67 20.32% 0.31 3.29
Food Processing 96 0.82 0.99 24.16% 3.41 4.11
Food Wholesalers 14 1.26 1.41 21.95% 5.73 6.44
Furn/Home Furnishings 27 0.92 1.09 28.61% 3.22 3.81
Green & Renewable Energy 26 0.68 1.32 15.20% 4.45 8.68
Healthcare Products 261 0.90 0.99 20.09% 4.50 4.93
Healthcare Support Services 138 0.91 1.05 19.68% 4.61 5.35
Heathcare Information and Technology 127 0.84 0.95 18.95% 4.41 5.01
Homebuilding 35 0.92 1.29 34.81% 2.64 3.70
Hospitals/Healthcare Facilities 56 0.59 0.97 28.32% 2.08 3.44
Hotel/Gaming 80 0.83 1.18 25.94% 3.19 4.55
Household Products 135 0.91 1.03 17.55% 5.19 5.86
Information Services 67 1.04 1.11 34.90% 2.99 3.19
Insurance (General) 24 0.80 1.03 45.46% 1.77 2.26
Insurance (Life) 25 0.75 1.04 48.03% 1.57 2.17
Insurance (Prop/Cas.) 52 0.69 0.83 38.50% 1.80 2.15
Investments & Asset Management 148 0.73 1.10 29.28% 2.49 3.75
Machinery 137 1.11 1.23 32.59% 3.41 3.76
Metals & Mining 124 0.91 1.28 14.01% 6.46 9.15
Office Equipment & Services 25 1.00 1.34 30.47% 3.28 4.41
Oil/Gas (Integrated) 8 0.76 0.81 49.36% 1.55 1.64
Oil/Gas (Production and Exploration) 392 0.91 1.27 21.65% 4.22 5.85
Oil/Gas Distribution 85 0.67 0.96 32.48% 2.06 2.97
Oilfield Svcs/Equip. 161 1.32 1.54 27.18% 4.85 5.68
Packaging & Container 26 0.70 0.95 51.37% 1.35 1.84
Paper/Forest Products 22 0.59 0.84 24.08% 2.47 3.47
Power 82 0.53 0.83 35.10% 1.51 2.36
Precious Metals 147 1.05 1.29 11.05% 9.47 11.70
Publshing & Newspapers 43 0.88 1.15 28.18% 3.13 4.07
R.E.I.T. 213 0.43 0.79 36.30% 1.18 2.17
Real Estate (Development) 18 0.82 1.02 16.22% 5.05 6.30
Real Estate (General/Diversified) 11 1.47 1.82 21.30% 6.92 8.54
Real Estate (Operations & Services) 52 0.89 1.30 19.66% 4.55 6.62
Recreation 68 0.99 1.21 22.16% 4.45 5.47
Reinsurance 4 1.12 1.35 46.99% 2.39 2.87
Restaurant/Dining 79 0.74 0.89 26.14% 2.83 3.42
Retail (Automotive) 30 0.85 1.18 33.40% 2.53 3.52
Retail (Building Supply) 5 1.29 1.44 43.14% 2.99 3.34
Retail (Distributors) 90 0.81 1.12 25.81% 3.14 4.32
Retail (General) 23 0.85 1.03 31.06% 2.74 3.32
Retail (Grocery and Food) 21 0.75 1.05 22.71% 3.29 4.62
Retail (Online) 46 1.39 1.40 20.77% 6.70 6.72
Retail (Special Lines) 128 0.85 1.07 25.55% 3.31 4.20
Rubber& Tires 4 0.65 1.02 28.80% 2.27 3.54
Semiconductor 100 1.17 1.21 31.38% 3.72 3.87
Semiconductor Equip 47 1.17 1.23 33.32% 3.52 3.70
Shipbuilding & Marine 14 0.94 1.36 28.45% 3.31 4.79
Shoe 13 0.82 0.84 21.86% 3.77 3.85
Software (Entertainment) 20 1.13 1.12 23.08% 4.90 4.83
Software (Internet) 327 1.29 1.29 16.23% 7.97 7.93
Software (System & Application) 259 1.06 1.10 20.59% 5.15 5.36
Steel 40 0.90 1.31 35.00% 2.58 3.75
Telecom (Wireless) 21 0.51 1.15 20.89% 2.43 5.51
Telecom. Equipment 126 1.20 1.24 24.34% 4.92 5.11
Telecom. Services 77 0.69 1.07 18.29% 3.78 5.84
Tobacco 20 0.94 1.09 26.26% 3.60 4.13
Transportation 21 0.77 0.86 29.54% 2.59 2.90
Transportation (Railroads) 10 0.92 1.05 46.22% 1.99 2.27
Trucking 30 0.92 1.32 41.20% 2.23 3.21
Unclassified 8 0.14 0.10 6.08% 2.24 1.72
Utility (General) 21 0.42 0.59 43.96% 0.95 1.35
Utility (Water) 19 0.77 1.09 26.69% 2.87 4.07
Total Market 7887 0.70 1.06 23.88% 2.95 4.46

 



Last Updated in January 2015
By Aswath Damodaran