Financing Flows by Sector (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2026
Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/fundgrEB.xls
For global datasets: https://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 Name | Number of Firms | Dividends in $ millions | Buybacks in $ millions | Equity Issuance in $ millions | Net Equity Change in $ millions | Net Equity Change as % of Book Equity | Debt Repaid in $ millions | Debt Raised in $ millions | Net Debt Change in $ millions | Net Change in Debt as % of Total Debt | Change in Lease Debt in $ millions |
| Advertising | 52 | $571.10 | $2,180.39 | $1,996.04 | -$184.35 | -2.22% | $8,884.05 | $6,551.98 | -$2,332.07 | -11.38% | $76.79 |
| Aerospace/Defense | 79 | $12,526.49 | $19,594.05 | $28,024.85 | $8,430.80 | 5.15% | $37,065.83 | $36,062.20 | -$1,003.63 | -0.43% | $474.84 |
| Air Transport | 23 | $812.00 | $4,370.74 | $1,460.95 | -$2,909.79 | -6.72% | $26,694.38 | $12,603.38 | -$14,091.00 | -14.65% | $15,367.83 |
| Apparel | 35 | $1,218.62 | $4,943.84 | $270.53 | -$4,673.31 | -20.02% | $13,819.92 | $8,589.16 | -$5,230.77 | -33.11% | $831.99 |
| Auto & Truck | 33 | $3,743.20 | $8,775.76 | $4,917.92 | -$3,857.84 | -1.90% | $107,264.33 | $113,946.81 | $6,682.48 | 2.10% | $4,467.89 |
| Auto Parts | 35 | $693.93 | $1,657.20 | $612.55 | -$1,044.66 | -3.59% | $4,667.41 | $4,257.48 | -$409.93 | -1.97% | $341.16 |
| Bank (Money Center) | 15 | $40,401.78 | $79,296.00 | $2,109.00 | -$77,187.00 | -6.91% | $396,960.00 | $780,459.00 | $383,499.00 | 11.57% | $0.00 |
| Banks (Regional) | 568 | $18,200.20 | $12,736.65 | $4,195.37 | -$8,541.28 | -1.65% | $277,926.07 | $256,199.89 | -$21,726.17 | -6.44% | $0.00 |
| Beverage (Alcoholic) | 14 | $1,538.00 | $2,180.81 | $48.60 | -$2,132.21 | -7.89% | $2,497.61 | $848.02 | -$1,649.59 | -8.33% | -$248.51 |
| Beverage (Soft) | 27 | $17,711.00 | $2,929.19 | $544.38 | -$2,384.81 | -3.03% | $19,939.77 | $25,974.62 | $6,034.86 | 4.74% | $804.45 |
| Broadcasting | 24 | $894.77 | $1,535.58 | $87.18 | -$1,448.40 | -3.92% | $13,383.26 | $10,032.22 | -$3,351.05 | -7.24% | $114.00 |
| Brokerage & Investment Banking | 32 | $14,207.81 | $28,530.99 | $2,149.84 | -$26,381.15 | -9.11% | $278,790.78 | $303,224.36 | $24,433.58 | 1.78% | $1.69 |
| Building Materials | 41 | $2,369.83 | $9,950.91 | $370.65 | -$9,580.26 | -16.53% | $15,123.98 | $15,768.03 | $644.05 | 1.28% | $1,319.61 |
| Business & Consumer Services | 155 | $8,076.91 | $13,960.91 | $1,102.72 | -$12,858.19 | -12.34% | $55,266.63 | $67,168.09 | $11,901.46 | 11.46% | $1,322.06 |
| Cable TV | 9 | $5,224.20 | $12,461.23 | $458.70 | -$12,002.53 | -8.50% | $34,501.00 | $33,960.80 | -$540.20 | -0.20% | $1,067.40 |
| Chemical (Basic) | 29 | $4,092.30 | $700.41 | $159.28 | -$541.13 | -1.04% | $7,043.30 | $9,711.87 | $2,668.58 | 5.51% | $1,430.40 |
| Chemical (Diversified) | 4 | $274.00 | $8.08 | $1.16 | -$6.92 | -0.16% | $1,095.05 | $1,269.18 | $174.13 | 2.63% | $199.11 |
| Chemical (Specialty) | 59 | $7,870.11 | $6,742.72 | $841.19 | -$5,901.53 | -3.41% | $39,363.68 | $43,518.56 | $4,154.88 | 3.36% | $1,089.26 |
| Coal & Related Energy | 16 | $72.21 | $265.02 | $1,139.55 | $874.53 | 11.95% | $152.50 | $1,473.88 | $1,321.37 | 84.96% | $8.42 |
| Computer Services | 64 | $7,760.47 | $7,634.73 | $1,490.10 | -$6,144.63 | -7.37% | $15,910.10 | $19,689.59 | $3,779.49 | 3.85% | -$1,147.55 |
| Computers/Peripherals | 36 | $19,202.07 | $106,180.05 | $2,757.95 | -$103,422.10 | -90.35% | $36,588.51 | $41,694.64 | $5,106.13 | 2.79% | $19,110.94 |
| Construction Supplies | 40 | $7,224.30 | $8,018.40 | $102.23 | -$7,916.18 | -8.39% | $26,430.95 | $36,584.05 | $10,153.10 | 10.55% | $228.85 |
| Diversified | 20 | $4,928.38 | $7,885.91 | $1,683.09 | -$6,202.82 | -0.94% | $33,609.70 | $42,256.11 | $8,646.41 | 4.46% | $443.02 |
| Drugs (Biotechnology) | 496 | $20,803.60 | $14,405.25 | $25,232.53 | $10,827.28 | 5.61% | $29,267.71 | $24,178.82 | -$5,088.90 | -2.61% | -$375.37 |
| Drugs (Pharmaceutical) | 228 | $42,241.20 | $17,586.14 | $6,749.20 | -$10,836.94 | -3.62% | $43,365.76 | $60,229.24 | $16,863.47 | 5.47% | -$568.36 |
| Education | 32 | $339.30 | $1,137.98 | $1,102.15 | -$35.84 | -0.23% | $2,800.65 | $732.82 | -$2,067.83 | -28.96% | $103.06 |
| Electrical Equipment | 112 | $2,905.71 | $5,403.29 | $3,097.76 | -$2,305.54 | -2.78% | $15,845.86 | $23,315.18 | $7,469.32 | 12.10% | $292.27 |
| Electronics (Consumer & Office) | 8 | $0.00 | $109.79 | $16.81 | -$92.98 | -11.22% | $161.83 | $234.60 | $72.76 | 193.12% | -$53.53 |
| Electronics (General) | 114 | $2,212.18 | $6,237.20 | $2,275.70 | -$3,961.50 | -4.49% | $12,867.99 | $16,226.60 | $3,358.61 | 6.42% | $550.29 |
| Engineering/Construction | 48 | $826.91 | $2,937.45 | $925.46 | -$2,011.98 | -5.30% | $64,526.31 | $66,191.49 | $1,665.18 | 5.12% | $2,889.47 |
| Entertainment | 92 | $2,622.46 | $16,479.60 | $3,534.41 | -$12,945.19 | -6.88% | $48,328.54 | $40,024.12 | -$8,304.42 | -6.03% | -$1,730.18 |
| Environmental & Waste Services | 53 | $2,582.17 | $1,412.16 | $227.20 | -$1,184.96 | -3.61% | $63,606.14 | $69,923.07 | $6,316.92 | 12.81% | $1,469.66 |
| Farming/Agriculture | 35 | $3,604.14 | $2,897.12 | $110.21 | -$2,786.91 | -3.86% | $25,764.45 | $25,463.51 | -$300.94 | -0.29% | $1,547.90 |
| Financial Svcs. (Non-bank & Insurance) | 176 | $24,037.58 | $83,109.33 | $7,511.20 | -$75,598.12 | -16.79% | $2,266,325.74 | $2,119,917.74 | -$146,408.00 | -1.77% | $65,328.71 |
| Food Processing | 78 | $11,627.10 | $6,907.68 | $499.76 | -$6,407.92 | -3.63% | $24,614.60 | $22,526.26 | -$2,088.34 | -1.67% | -$2,184.76 |
| Food Wholesalers | 13 | $1,034.70 | $2,222.87 | $214.17 | -$2,008.70 | -13.47% | $17,401.36 | $18,998.43 | $1,597.07 | 5.41% | $610.30 |
| Furn/Home Furnishings | 27 | $640.24 | $511.79 | $79.50 | -$432.29 | -2.27% | $17,043.67 | $18,793.43 | $1,749.76 | 9.37% | -$25.13 |
| Green & Renewable Energy | 15 | $45.10 | $3.25 | $3.13 | -$0.11 | 0.00% | $6,542.90 | $7,220.79 | $677.89 | 2.54% | -$42.55 |
| Healthcare Products | 204 | $9,780.43 | $11,848.44 | $4,898.12 | -$6,950.33 | -2.85% | $51,155.45 | $42,258.63 | -$8,896.82 | -5.90% | $1,509.73 |
| Healthcare Support Services | 104 | $16,728.05 | $31,564.10 | $3,439.65 | -$28,124.45 | -8.21% | $183,483.09 | $202,433.66 | $18,950.57 | 6.02% | -$907.77 |
| Heathcare Information and Technology | 115 | $1,927.97 | $16,080.89 | $1,781.97 | -$14,298.92 | -7.99% | $21,633.74 | $18,430.50 | -$3,203.25 | -3.02% | $325.20 |
| Homebuilding | 30 | $1,533.89 | $10,708.95 | $220.71 | -$10,488.24 | -9.31% | $23,681.60 | $26,191.73 | $2,510.13 | 6.72% | -$742.10 |
| Hospitals/Healthcare Facilities | 31 | $988.38 | $11,654.40 | $105.24 | -$11,549.17 | -55.45% | $21,034.77 | $22,463.72 | $1,428.95 | 1.55% | $1,442.27 |
| Hotel/Gaming | 63 | $4,468.05 | $27,711.84 | $4,552.36 | -$23,159.48 | -43.00% | $68,244.71 | $76,164.38 | $7,919.67 | 3.22% | -$4,231.18 |
| Household Products | 110 | $16,754.75 | $10,105.21 | $1,655.95 | -$8,449.26 | -9.16% | $24,184.14 | $22,639.45 | -$1,544.69 | -1.60% | -$118.84 |
| Information Services | 15 | $847.70 | $2,690.67 | $540.45 | -$2,150.22 | -12.16% | $7,575.00 | $6,454.10 | -$1,120.90 | -5.35% | $749.30 |
| Insurance (General) | 21 | $2,582.11 | $1,428.67 | $14,607.62 | $13,178.94 | 35.67% | $6,395.87 | $24,774.86 | $18,378.99 | 37.85% | -$144.07 |
| Insurance (Life) | 20 | $6,322.82 | $11,390.38 | $1,525.90 | -$9,864.48 | -6.75% | $7,661.77 | $12,074.10 | $4,412.33 | 2.87% | -$197.50 |
| Insurance (Prop/Cas.) | 57 | $10,949.78 | $15,072.98 | $1,438.91 | -$13,634.07 | -5.24% | $45,915.93 | $47,858.50 | $1,942.57 | 2.33% | $29.39 |
| Investments & Asset Management | 283 | $21,514.29 | $17,220.66 | $12,772.38 | -$4,448.28 | -1.91% | $79,759.66 | $99,512.05 | $19,752.38 | 6.80% | $131.55 |
| Machinery | 105 | $6,954.04 | $11,778.50 | $1,381.60 | -$10,396.89 | -8.21% | $25,939.72 | $25,974.82 | $35.10 | 0.04% | $844.24 |
| Metals & Mining | 73 | $3,335.50 | $162.17 | $1,603.14 | $1,440.98 | 4.00% | $7,914.95 | $7,583.46 | -$331.49 | -1.41% | $181.26 |
| Office Equipment & Services | 14 | $341.16 | $559.61 | $20.18 | -$539.43 | -12.00% | $4,105.47 | $4,058.40 | -$47.07 | -0.83% | -$49.66 |
| Oil/Gas (Integrated) | 4 | $30,447.49 | $34,098.78 | $983.00 | -$33,115.78 | -7.34% | $14,940.00 | $14,082.00 | -$858.00 | -0.81% | $6,625.00 |
| Oil/Gas (Production and Exploration) | 142 | $14,786.46 | $16,592.15 | $5,806.66 | -$10,785.49 | -3.71% | $86,469.47 | $95,258.90 | $8,789.43 | 5.07% | $8,601.22 |
| Oil/Gas Distribution | 23 | $9,873.14 | $3,754.48 | $2,484.50 | -$1,269.98 | -1.61% | $141,587.62 | $151,299.17 | $9,711.55 | 5.75% | $2,340.90 |
| Oilfield Svcs/Equip. | 97 | $9,182.87 | $14,367.62 | $1,606.43 | -$12,761.20 | -7.22% | $70,643.80 | $77,409.83 | $6,766.03 | 5.32% | $5,011.49 |
| Packaging & Container | 19 | $2,767.80 | $3,424.59 | $376.36 | -$3,048.23 | -7.53% | $22,415.33 | $24,348.39 | $1,933.06 | 3.20% | -$253.96 |
| Paper/Forest Products | 6 | $1,261.00 | $231.30 | $0.00 | -$231.30 | -4.28% | $1,569.70 | $1,694.90 | $125.20 | 3.63% | -$50.40 |
| Power | 46 | $27,437.16 | $4,618.41 | $10,989.31 | $6,370.90 | 1.58% | $85,924.08 | $146,376.39 | $60,452.31 | 7.72% | -$7,658.36 |
| Precious Metals | 56 | $2,610.80 | $2,708.84 | $1,405.95 | -$1,302.89 | -2.95% | $5,562.26 | $2,146.27 | -$3,415.99 | -22.36% | $1,561.12 |
| Publishing & Newspapers | 19 | $454.20 | $581.01 | $10.46 | -$570.55 | -4.01% | $5,384.96 | $4,931.63 | -$453.33 | -6.83% | -$43.18 |
| R.E.I.T. | 190 | $54,420.04 | $5,494.45 | $38,312.09 | $32,817.64 | 5.92% | $14,504,496.75 | $14,572,888.37 | $68,391.62 | 6.84% | $14.92 |
| Real Estate (Development) | 14 | $0.00 | $12.85 | $866.77 | $853.92 | 16.61% | $1,709.44 | $1,844.42 | $134.98 | 2.05% | $5.62 |
| Real Estate (General/Diversified) | 12 | $62.90 | $32.18 | $0.28 | -$31.90 | -1.47% | $643.36 | $648.60 | $5.24 | 0.22% | $16.30 |
| Real Estate (Operations & Services) | 54 | $360.13 | $2,493.91 | $1,120.78 | -$1,373.13 | -3.41% | $34,168.94 | $33,170.33 | -$998.61 | -3.51% | -$8.80 |
| Recreation | 49 | $1,148.70 | $1,959.53 | $337.84 | -$1,621.69 | -7.94% | $12,805.02 | $12,573.21 | -$231.81 | -0.71% | $568.99 |
| Reinsurance | 1 | $237.00 | $114.00 | $4.00 | -$110.00 | -0.99% | $28.00 | $691.00 | $663.00 | 11.56% | $0.00 |
| Restaurant/Dining | 64 | $11,348.43 | $7,238.58 | $1,319.80 | -$5,918.78 | -368.94% | $19,272.07 | $24,239.35 | $4,967.27 | 4.17% | $5,821.60 |
| Retail (Automotive) | 34 | $644.65 | $7,012.86 | $2,212.44 | -$4,800.43 | -17.36% | $78,343.32 | $81,804.14 | $3,460.82 | 3.63% | $2,434.38 |
| Retail (Building Supply) | 14 | $12,039.95 | $2,395.24 | $676.00 | -$1,719.24 | 29.06% | $8,711.47 | $13,052.70 | $4,341.23 | 4.21% | $4,308.30 |
| Retail (Distributors) | 62 | $5,012.07 | $5,819.19 | $4,479.82 | -$1,339.36 | -1.72% | $49,674.15 | $56,973.07 | $7,298.92 | 8.24% | $4,132.28 |
| Retail (General) | 23 | $13,006.53 | $16,790.00 | $340.95 | -$16,449.05 | -3.86% | $40,059.00 | $38,545.30 | -$1,513.70 | -0.82% | $19,628.20 |
| Retail (Grocery and Food) | 15 | $1,367.20 | $7,667.05 | $219.03 | -$7,448.02 | -26.30% | $6,636.73 | $1,749.91 | -$4,886.82 | -16.39% | $535.15 |
| Retail (REITs) | 26 | $9,864.23 | $299.96 | $6,106.58 | $5,806.63 | 6.05% | $60,612.43 | $64,463.30 | $3,850.87 | 3.37% | $10.17 |
| Retail (Special Lines) | 94 | $4,703.79 | $8,781.00 | $851.23 | -$7,929.77 | -15.20% | $13,004.92 | $16,723.04 | $3,718.12 | 11.17% | $4,250.83 |
| Rubber& Tires | 3 | $0.00 | $0.00 | $3.63 | $3.63 | 0.08% | $19,643.32 | $18,640.13 | -$1,003.19 | -12.45% | $195.60 |
| Semiconductor | 66 | $25,363.10 | $81,248.97 | $9,195.34 | -$72,053.63 | -14.61% | $66,016.25 | $56,418.05 | -$9,598.21 | -4.92% | $200.35 |
| Semiconductor Equip | 31 | $3,803.60 | $12,289.94 | $755.46 | -$11,534.48 | -21.00% | $4,836.10 | $5,648.96 | $812.86 | 2.56% | -$152.90 |
| Shipbuilding & Marine | 8 | $106.30 | $568.39 | $8.44 | -$559.95 | -7.84% | $213.01 | $331.15 | $118.14 | 6.04% | $59.93 |
| Shoe | 11 | $2,475.47 | $2,299.32 | $461.26 | -$1,838.07 | -9.40% | $2,531.40 | $1,643.40 | -$888.00 | -8.49% | $378.54 |
| Software (Entertainment) | 77 | $15,397.21 | $106,052.13 | $2,868.74 | -$103,183.39 | -20.40% | $38,598.86 | $50,962.71 | $12,363.85 | 16.05% | $5,390.15 |
| Software (Internet) | 29 | $142.76 | $6,727.74 | $2,586.51 | -$4,141.22 | -17.95% | $9,099.76 | $19,303.83 | $10,204.08 | 30.43% | $2,883.12 |
| Software (System & Application) | 309 | $34,027.14 | $63,893.13 | $56,925.77 | -$6,967.36 | -1.27% | $36,175.09 | $85,104.67 | $48,929.58 | 14.30% | $17,166.59 |
| Steel | 19 | $1,355.85 | $2,745.75 | $194.21 | -$2,551.54 | -4.50% | $9,415.26 | $14,278.30 | $4,863.04 | 20.55% | $284.69 |
| Telecom (Wireless) | 12 | $6,032.20 | $12,833.34 | $1.82 | -$12,831.53 | -17.58% | $10,710.02 | $9,667.98 | -$1,042.04 | -1.12% | -$2,548.12 |
| Telecom. Equipment | 57 | $7,331.74 | $10,734.25 | $1,958.89 | -$8,775.36 | -12.38% | $31,680.48 | $26,975.44 | -$4,705.04 | -8.00% | $682.75 |
| Telecom. Services | 39 | $19,576.64 | $3,958.58 | $1,866.00 | -$2,092.58 | -1.01% | $38,519.99 | $41,878.72 | $3,358.73 | 0.99% | $2,884.03 |
| Tobacco | 10 | $15,432.85 | $1,027.97 | $115.99 | -$911.98 | 8.01% | $10,429.24 | $11,305.11 | $875.87 | 1.10% | $223.11 |
| Transportation | 19 | $7,282.20 | $9,955.63 | $740.14 | -$9,215.49 | -13.48% | $42,657.46 | $46,135.42 | $3,477.96 | 3.23% | $2,836.87 |
| Transportation (Railroads) | 4 | $5,419.80 | $6,196.00 | $14.69 | -$6,181.31 | -14.15% | $2,762.40 | $4,783.80 | $2,021.40 | 2.79% | -$151.50 |
| Trucking | 26 | $906.12 | $2,669.91 | $37.91 | -$2,632.00 | -6.27% | $11,849.36 | $13,249.66 | $1,400.30 | 5.29% | $1,373.87 |
| Utility (General) | 14 | $11,209.70 | $74.30 | $5,729.69 | $5,655.39 | 3.44% | $24,109.40 | $48,792.10 | $24,682.70 | 8.74% | $179.20 |
| Utility (Water) | 14 | $1,246.75 | $6.84 | $632.08 | $625.24 | 2.91% | $2,993.73 | $5,868.30 | $2,874.58 | 10.03% | $15.44 |
| Total Market | 5994 | $770,310.95 | $1,153,648.06 | $323,253.99 | -$830,394.08 | -6.46% | $20,297,032.11 | $20,922,594.26 | $625,562.15 | 2.67% | $203,690.71 |
| Total Market (without financials) | 4822 | $632,094.57 | $904,862.40 | $276,943.78 | -$627,918.63 | -6.41% | $16,937,296.29 | $17,278,573.76 | $341,277.48 | 3.59% | $138,540.94 |
Last updated in January 2026
By Aswath Damodaran