Betas
by Sector (US)Data Used: Multiple data services
Date of Analysis: Data used is as of January 2025
Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/betas.xls
For global datasets: https://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
YouTube Video explaining data: https://www.youtube.com/watch?v=rxmttgceSjg
can be obtained by clicking here
on
which companies are included in each industry
| Industry Name | Number of firms | Beta | D/E Ratio | Effective Tax rate | Unlevered beta | Cash/Firm value | Unlevered beta corrected for cash | HiLo Risk | Standard deviation of equity | Standard deviation in operating income (last 10 years) |
| Advertising | 54 | 1.34 | 26.20% | 7.67% | 1.12 | 6.56% | 1.20 | 0.6098 | 67.19% | 12.10% |
| Aerospace/Defense | 67 | 0.90 | 22.79% | 11.02% | 0.77 | 3.87% | 0.80 | 0.4341 | 42.74% | 23.92% |
| Air Transport | 24 | 1.24 | 106.83% | 10.15% | 0.69 | 10.28% | 0.76 | 0.5255 | 65.27% | 204.02% |
| Apparel | 37 | 0.99 | 45.89% | 8.08% | 0.74 | 10.86% | 0.83 | 0.4841 | 50.93% | 24.49% |
| Auto & Truck | 34 | 1.62 | 22.40% | 2.11% | 1.39 | 3.51% | 1.43 | 0.6646 | 77.59% | 46.93% |
| Auto Parts | 33 | 1.23 | 47.83% | 12.77% | 0.91 | 8.61% | 0.99 | 0.3843 | 52.62% | 20.56% |
| Bank (Money Center) | 15 | 0.88 | 183.19% | 18.10% | 0.37 | 29.77% | 0.53 | 0.2337 | 30.47% | NA |
| Banks (Regional) | 591 | 0.52 | 60.32% | 16.84% | 0.36 | 24.75% | 0.48 | 0.2078 | 29.96% | 265.19% |
| Beverage (Alcoholic) | 18 | 0.61 | 30.47% | 8.28% | 0.50 | 1.86% | 0.51 | 0.5509 | 63.08% | 21.67% |
| Beverage (Soft) | 29 | 0.57 | 19.73% | 6.94% | 0.50 | 3.57% | 0.51 | 0.6427 | 47.67% | 15.38% |
| Broadcasting | 22 | 0.92 | 149.56% | 10.74% | 0.43 | 9.47% | 0.48 | 0.5390 | 52.60% | 28.23% |
| Brokerage & Investment Banking | 30 | 0.95 | 186.59% | 14.42% | 0.40 | 15.59% | 0.47 | 0.3990 | 40.49% | 57.36% |
| Building Materials | 39 | 1.36 | 18.97% | 19.11% | 1.19 | 3.57% | 1.23 | 0.3033 | 34.75% | 46.33% |
| Business & Consumer Services | 152 | 1.00 | 16.78% | 12.48% | 0.89 | 3.27% | 0.92 | 0.4832 | 45.39% | 26.12% |
| Cable TV | 9 | 0.96 | 126.35% | 10.47% | 0.49 | 2.19% | 0.50 | 0.4196 | 49.73% | 28.09% |
| Chemical (Basic) | 31 | 1.15 | 58.25% | 7.97% | 0.80 | 7.16% | 0.86 | 0.5490 | 50.02% | 38.53% |
| Chemical (Diversified) | 4 | 0.99 | 113.12% | 0.00% | 0.54 | 7.34% | 0.58 | 0.2709 | 46.97% | 38.49% |
| Chemical (Specialty) | 60 | 0.92 | 27.12% | 9.99% | 0.76 | 3.58% | 0.79 | 0.4247 | 48.15% | 18.52% |
| Coal & Related Energy | 16 | 1.18 | 9.47% | 2.77% | 1.10 | 12.87% | 1.27 | 0.4805 | 53.78% | 245.43% |
| Computer Services | 63 | 1.23 | 26.33% | 10.78% | 1.03 | 5.58% | 1.09 | 0.5269 | 44.40% | 22.99% |
| Computers/Peripherals | 35 | 1.14 | 4.82% | 8.99% | 1.10 | 1.42% | 1.12 | 0.4501 | 52.62% | 29.18% |
| Construction Supplies | 46 | 1.29 | 21.56% | 13.55% | 1.11 | 3.40% | 1.15 | 0.4555 | 47.52% | 35.39% |
| Diversified | 21 | 1.09 | 16.09% | 5.01% | 0.97 | 4.08% | 1.01 | 0.5726 | 59.35% | 73.55% |
| Drugs (Biotechnology) | 535 | 1.25 | 17.09% | 1.05% | 1.11 | 5.07% | 1.17 | 0.6315 | 86.83% | 39.35% |
| Drugs (Pharmaceutical) | 231 | 1.07 | 16.89% | 2.58% | 0.95 | 3.08% | 0.98 | 0.6501 | 80.05% | 25.33% |
| Education | 29 | 0.98 | 19.44% | 11.89% | 0.86 | 6.95% | 0.92 | 0.5231 | 55.82% | 15.92% |
| Electrical Equipment | 101 | 1.27 | 14.84% | 5.14% | 1.14 | 4.87% | 1.20 | 0.6052 | 72.12% | 15.35% |
| Electronics (Consumer & Office) | 11 | 0.92 | 13.31% | 0.00% | 0.84 | 12.32% | 0.95 | 0.6540 | 73.20% | 1011.22% |
| Electronics (General) | 122 | 1.06 | 14.42% | 6.59% | 0.96 | 5.57% | 1.01 | 0.5014 | 61.61% | 26.37% |
| Engineering/Construction | 42 | 0.99 | 17.92% | 14.71% | 0.87 | 5.05% | 0.92 | 0.4576 | 47.33% | 27.96% |
| Entertainment | 96 | 1.04 | 20.34% | 2.06% | 0.90 | 3.67% | 0.94 | 0.6256 | 62.70% | 30.41% |
| Environmental & Waste Services | 50 | 0.92 | 19.32% | 6.84% | 0.80 | 1.41% | 0.82 | 0.5672 | 54.48% | 31.77% |
| Farming/Agriculture | 35 | 0.98 | 53.33% | 8.89% | 0.70 | 4.11% | 0.73 | 0.5104 | 69.59% | 50.76% |
| Financial Svcs. (Non-bank & Insur | 166 | 1.07 | 286.66% | 11.81% | 0.34 | 2.79% | 0.35 | 0.3957 | 41.96% | 34.87% |
| Food Processing | 77 | 0.47 | 36.52% | 10.12% | 0.37 | 2.74% | 0.38 | 0.4525 | 46.27% | 10.04% |
| Food Wholesalers | 14 | 0.72 | 43.28% | 15.53% | 0.54 | 1.39% | 0.55 | 0.3446 | 39.17% | 33.58% |
| Furn/Home Furnishings | 28 | 0.87 | 41.93% | 11.61% | 0.66 | 4.52% | 0.69 | 0.4093 | 54.80% | 22.10% |
| Green & Renewable Energy | 18 | 1.13 | 176.18% | 1.22% | 0.49 | 2.71% | 0.50 | 0.6739 | 71.93% | 41.18% |
| Healthcare Products | 218 | 1.01 | 12.79% | 4.10% | 0.92 | 3.38% | 0.96 | 0.5519 | 67.41% | 32.72% |
| Healthcare Support Services | 113 | 0.94 | 32.20% | 8.80% | 0.76 | 7.02% | 0.82 | 0.5578 | 54.00% | 26.43% |
| Heathcare Information and Techno | 116 | 1.22 | 16.20% | 3.82% | 1.09 | 2.93% | 1.12 | 0.5497 | 64.54% | 44.24% |
| Homebuilding | 30 | 1.43 | 17.50% | 17.73% | 1.26 | 8.31% | 1.38 | 0.3436 | 41.43% | 67.64% |
| Hospitals/Healthcare Facilities | 33 | 0.86 | 77.15% | 9.05% | 0.54 | 3.95% | 0.57 | 0.5355 | 50.81% | 18.23% |
| Hotel/Gaming | 65 | 1.19 | 43.21% | 10.65% | 0.90 | 5.17% | 0.95 | 0.4344 | 45.10% | 101.92% |
| Household Products | 101 | 0.90 | 15.22% | 8.00% | 0.81 | 3.07% | 0.83 | 0.6304 | 56.67% | 11.91% |
| Information Services | 16 | 0.98 | 35.37% | 15.37% | 0.77 | 3.12% | 0.80 | 0.4241 | 39.66% | 44.39% |
| Insurance (General) | 22 | 0.76 | 17.35% | 8.78% | 0.67 | 2.45% | 0.69 | 0.3637 | 51.01% | 52.59% |
| Insurance (Life) | 19 | 0.73 | 62.73% | 14.51% | 0.50 | 19.81% | 0.62 | 0.2558 | 34.31% | 28.77% |
| Insurance (Prop/Cas.) | 53 | 0.61 | 15.46% | 16.05% | 0.55 | 4.62% | 0.57 | 0.2914 | 33.69% | 29.88% |
| Investments & Asset Management | 231 | 0.57 | 35.04% | 6.19% | 0.45 | 10.06% | 0.50 | 0.2668 | 22.94% | 19.98% |
| Machinery | 109 | 1.07 | 15.70% | 11.22% | 0.96 | 2.92% | 0.98 | 0.4267 | 46.07% | 20.52% |
| Metals & Mining | 64 | 1.02 | 16.76% | 1.80% | 0.91 | 5.56% | 0.96 | 0.6103 | 72.37% | 53.55% |
| Office Equipment & Services | 14 | 1.20 | 46.51% | 13.45% | 0.89 | 7.65% | 0.96 | 0.3777 | 49.89% | 17.10% |
| Oil/Gas (Integrated) | 4 | 0.48 | 13.71% | 25.23% | 0.44 | 3.77% | 0.46 | 0.1820 | 25.56% | 107.91% |
| Oil/Gas (Production and Exploratio | 147 | 0.88 | 26.65% | 7.10% | 0.73 | 3.25% | 0.75 | 0.4581 | 47.66% | 200.53% |
| Oil/Gas Distribution | 24 | 0.75 | 51.54% | 12.48% | 0.54 | 1.17% | 0.55 | 0.4258 | 38.17% | 60.13% |
| Oilfield Svcs/Equip. | 97 | 0.94 | 38.52% | 9.08% | 0.73 | 6.47% | 0.78 | 0.4582 | 49.49% | 81.77% |
| Packaging & Container | 22 | 0.98 | 52.91% | 14.29% | 0.70 | 5.33% | 0.74 | 0.2703 | 33.98% | 12.29% |
| Paper/Forest Products | 6 | 1.07 | 22.57% | 23.69% | 0.92 | 4.41% | 0.96 | 0.3677 | 60.66% | 80.73% |
| Power | 48 | 0.54 | 80.34% | 12.11% | 0.34 | 1.25% | 0.34 | 0.2644 | 27.31% | 10.88% |
| Precious Metals | 60 | 1.23 | 18.90% | 1.99% | 1.08 | 6.06% | 1.15 | 0.7072 | 70.97% | 55.01% |
| Publishing & Newspapers | 19 | 0.64 | 28.69% | 9.76% | 0.53 | 5.90% | 0.56 | 0.3281 | 41.00% | 12.56% |
| R.E.I.T. | 192 | 0.95 | 83.49% | 1.80% | 0.58 | 2.01% | 0.59 | 0.2572 | 32.08% | 23.21% |
| Real Estate (Development) | 15 | 1.03 | 108.71% | 2.49% | 0.57 | 8.08% | 0.62 | 0.4780 | 49.68% | 68.02% |
| Real Estate (General/Diversified) | 11 | 0.86 | 41.94% | 5.45% | 0.65 | 10.76% | 0.74 | 0.4624 | 26.53% | 88.83% |
| Real Estate (Operations & Service | 60 | 1.08 | 28.79% | 4.26% | 0.89 | 7.08% | 0.95 | 0.5104 | 56.53% | 26.71% |
| Recreation | 50 | 1.33 | 65.10% | 7.33% | 0.89 | 4.43% | 0.93 | 0.4857 | 53.06% | 24.96% |
| Reinsurance | 1 | 0.54 | 36.58% | 20.13% | 0.42 | 27.03% | 0.58 | 0.1814 | 19.87% | 22.03% |
| Restaurant/Dining | 62 | 1.01 | 23.14% | 8.84% | 0.86 | 1.73% | 0.87 | 0.4154 | 41.50% | 21.19% |
| Retail (Automotive) | 29 | 1.35 | 50.40% | 12.12% | 0.98 | 0.99% | 0.99 | 0.4338 | 47.39% | 31.13% |
| Retail (Building Supply) | 13 | 1.79 | 20.19% | 13.66% | 1.55 | 1.11% | 1.57 | 0.3394 | 52.13% | 32.29% |
| Retail (Distributors) | 66 | 1.12 | 31.27% | 13.50% | 0.91 | 2.22% | 0.93 | 0.4577 | 43.89% | 40.27% |
| Retail (General) | 24 | 1.06 | 8.73% | 16.75% | 0.99 | 2.83% | 1.03 | 0.3721 | 46.69% | 25.81% |
| Retail (Grocery and Food) | 17 | 0.58 | 52.26% | 13.28% | 0.42 | 10.74% | 0.47 | 0.5043 | 27.13% | 32.34% |
| Retail (REITs) | 28 | 0.95 | 54.77% | 1.19% | 0.67 | 2.08% | 0.69 | 0.2665 | 23.56% | 13.96% |
| Retail (Special Lines) | 98 | 1.22 | 28.93% | 8.23% | 1.00 | 5.05% | 1.06 | 0.5509 | 57.00% | 20.63% |
| Rubber& Tires | 3 | 0.65 | 387.13% | 0.00% | 0.17 | 7.16% | 0.18 | 0.4821 | 72.04% | 58.85% |
| Semiconductor | 63 | 1.49 | 3.89% | 4.19% | 1.45 | 1.13% | 1.46 | 0.4968 | 56.05% | 30.61% |
| Semiconductor Equip | 30 | 1.48 | 8.18% | 9.95% | 1.39 | 5.11% | 1.47 | 0.3470 | 51.09% | 56.83% |
| Shipbuilding & Marine | 8 | 0.58 | 19.11% | 5.78% | 0.51 | 3.60% | 0.52 | 0.4189 | 45.19% | 74.29% |
| Shoe | 12 | 1.42 | 10.25% | 11.06% | 1.32 | 6.11% | 1.41 | 0.4627 | 51.75% | 27.69% |
| Software (Entertainment) | 81 | 1.18 | 2.49% | 6.73% | 1.16 | 1.88% | 1.18 | 0.5913 | 66.63% | 58.90% |
| Software (Internet) | 29 | 1.69 | 11.54% | 2.18% | 1.56 | 2.88% | 1.60 | 0.5403 | 55.62% | 300.90% |
| Software (System & Application) | 333 | 1.24 | 4.90% | 4.44% | 1.20 | 1.74% | 1.22 | 0.5686 | 63.63% | 43.08% |
| Steel | 27 | 1.06 | 25.90% | 11.76% | 0.89 | 7.94% | 0.96 | 0.3582 | 46.79% | 101.97% |
| Telecom (Wireless) | 11 | 0.77 | 47.61% | 14.90% | 0.57 | 2.73% | 0.59 | 0.5664 | 66.73% | 66.40% |
| Telecom. Equipment | 61 | 1.00 | 12.80% | 4.35% | 0.91 | 3.83% | 0.95 | 0.5385 | 56.09% | 12.58% |
| Telecom. Services | 32 | 0.89 | 100.17% | 3.65% | 0.51 | 1.77% | 0.52 | 0.5682 | 63.71% | 15.70% |
| Tobacco | 12 | 0.98 | 27.96% | 12.50% | 0.81 | 1.81% | 0.83 | 0.5533 | 68.34% | 9.63% |
| Transportation | 21 | 1.03 | 38.71% | 11.90% | 0.80 | 4.38% | 0.83 | 0.4820 | 51.68% | 54.97% |
| Transportation (Railroads) | 4 | 0.99 | 28.39% | 17.14% | 0.82 | 1.10% | 0.83 | 0.2148 | 26.56% | 13.05% |
| Trucking | 24 | 1.10 | 22.92% | 18.60% | 0.94 | 2.27% | 0.96 | 0.3515 | 32.18% | 37.00% |
| Utility (General) | 14 | 0.39 | 78.06% | 10.65% | 0.25 | 0.81% | 0.25 | 0.1566 | 18.21% | 12.80% |
| Utility (Water) | 15 | 0.68 | 58.64% | 11.36% | 0.47 | 0.41% | 0.47 | 0.3517 | 52.53% | 16.71% |
| Total Market | 6062 | 1.00 | 39.18% | 8.03% | 0.77 | 5.11% | 0.82 | 0.4669 | 52.53% | 25.27% |
| Total Market (without financial | 4935 | 1.09 | 19.29% | 6.75% | 0.95 | 2.89% | 0.98 | 0.5139 | 57.40% | 25.78% |