can be obtained by clicking here
on
which companies are included in each industry
| Do you want to use marginal or effective tax rates in unlevering
betas? |
Marginal |
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| If marginal
tax rate, enter the marginal tax rate to use |
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25.37% |
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Effective |
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Marginal |
| 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 |
419 |
1.27 |
40.55% |
13.47% |
0.98 |
10.04% |
1.09 |
0.4367 |
47.82% |
22.99% |
|
| Aerospace/Defense |
319 |
1.23 |
13.00% |
10.93% |
1.12 |
3.82% |
1.17 |
0.4404 |
46.54% |
20.01% |
|
| Air Transport |
150 |
0.99 |
78.89% |
14.62% |
0.62 |
8.85% |
0.68 |
0.3091 |
33.63% |
199.56% |
|
| Apparel |
1207 |
0.76 |
18.70% |
15.24% |
0.67 |
5.14% |
0.71 |
0.3570 |
40.91% |
32.17% |
|
| Auto &
Truck |
165 |
1.41 |
47.81% |
11.57% |
1.04 |
9.53% |
1.15 |
0.4438 |
46.54% |
30.27% |
|
| Auto Parts |
797 |
1.45 |
27.80% |
17.28% |
1.20 |
11.29% |
1.35 |
0.3402 |
38.55% |
18.62% |
|
| Bank (Money
Center) |
604 |
0.70 |
211.72% |
21.59% |
0.27 |
25.48% |
0.36 |
0.2489 |
24.57% |
22.54% |
|
| Banks
(Regional) |
825 |
0.51 |
202.28% |
18.36% |
0.20 |
31.88% |
0.30 |
0.2085 |
23.33% |
207.41% |
|
| Beverage
(Alcoholic) |
217 |
0.79 |
20.29% |
17.62% |
0.69 |
5.05% |
0.73 |
0.2641 |
34.01% |
18.64% |
|
| Beverage
(Soft) |
94 |
0.59 |
18.72% |
13.30% |
0.52 |
4.03% |
0.54 |
0.3841 |
36.93% |
21.82% |
|
| Broadcasting |
127 |
0.83 |
56.77% |
15.20% |
0.58 |
10.87% |
0.66 |
0.3820 |
40.48% |
18.27% |
|
| Brokerage
& Investment Banking |
623 |
0.98 |
179.14% |
15.37% |
0.42 |
13.94% |
0.49 |
0.3692 |
40.96% |
44.37% |
|
| Building
Materials |
469 |
1.00 |
22.78% |
16.72% |
0.86 |
4.86% |
0.90 |
0.3169 |
34.63% |
24.79% |
|
| Business &
Consumer Services |
994 |
0.99 |
20.61% |
15.82% |
0.86 |
5.33% |
0.91 |
0.3704 |
39.44% |
21.99% |
|
| Cable TV |
42 |
1.10 |
124.17% |
10.02% |
0.57 |
3.63% |
0.59 |
0.3609 |
39.03% |
22.81% |
|
| Chemical
(Basic) |
909 |
1.26 |
50.48% |
14.72% |
0.91 |
8.96% |
1.00 |
0.3163 |
37.70% |
38.53% |
|
| Chemical
(Diversified) |
63 |
1.17 |
52.52% |
21.13% |
0.84 |
7.70% |
0.91 |
0.2759 |
29.76% |
27.42% |
|
| Chemical
(Specialty) |
952 |
1.15 |
23.52% |
15.73% |
0.98 |
5.89% |
1.04 |
0.3482 |
39.45% |
33.57% |
|
| Coal &
Related Energy |
212 |
1.14 |
19.90% |
10.66% |
1.00 |
12.17% |
1.13 |
0.4598 |
58.63% |
63.85% |
|
| Computer
Services |
1225 |
1.12 |
15.01% |
16.58% |
1.00 |
6.29% |
1.07 |
0.3663 |
42.51% |
16.17% |
|
| Computers/Peripherals |
343 |
1.49 |
6.19% |
12.93% |
1.42 |
3.25% |
1.47 |
0.3738 |
43.56% |
23.39% |
|
| Construction
Supplies |
804 |
1.03 |
30.27% |
16.72% |
0.84 |
7.95% |
0.92 |
0.3297 |
37.32% |
27.88% |
|
| Diversified |
329 |
0.80 |
48.50% |
15.18% |
0.59 |
10.28% |
0.65 |
0.2871 |
30.02% |
34.36% |
|
| Drugs
(Biotechnology) |
1193 |
1.23 |
12.35% |
2.08% |
1.13 |
4.56% |
1.18 |
0.5504 |
65.51% |
42.43% |
|
| Drugs
(Pharmaceutical) |
1260 |
1.06 |
14.94% |
10.35% |
0.96 |
4.28% |
1.00 |
0.4199 |
47.49% |
19.88% |
|
| Education |
281 |
0.81 |
28.61% |
14.55% |
0.67 |
10.16% |
0.74 |
0.3741 |
41.91% |
28.83% |
|
| Electrical
Equipment |
1158 |
1.37 |
13.74% |
12.20% |
1.25 |
7.08% |
1.34 |
0.4109 |
46.76% |
28.94% |
|
| Electronics
(Consumer & Office) |
122 |
1.20 |
16.33% |
13.28% |
1.07 |
10.53% |
1.19 |
0.3899 |
43.63% |
24.91% |
|
| Electronics
(General) |
1481 |
1.60 |
14.17% |
11.89% |
1.45 |
7.85% |
1.57 |
0.3894 |
44.37% |
24.73% |
|
| Engineering/Construction |
1390 |
1.00 |
76.55% |
17.66% |
0.64 |
16.10% |
0.76 |
0.3613 |
40.13% |
19.92% |
|
| Entertainment |
733 |
1.01 |
12.73% |
8.03% |
0.92 |
5.83% |
0.98 |
0.4294 |
47.54% |
18.14% |
|
| Environmental
& Waste Services |
397 |
1.10 |
35.70% |
12.80% |
0.87 |
4.18% |
0.91 |
0.4001 |
43.98% |
28.11% |
|
| Farming/Agriculture |
428 |
0.67 |
59.04% |
15.63% |
0.47 |
5.62% |
0.49 |
0.3387 |
36.17% |
33.77% |
|
| Financial
Svcs. (Non-bank & Insurance) |
1138 |
0.82 |
264.81% |
15.91% |
0.28 |
6.25% |
0.30 |
0.3699 |
41.34% |
28.84% |
|
| Food
Processing |
1450 |
0.67 |
37.10% |
16.35% |
0.53 |
5.82% |
0.56 |
0.3120 |
33.90% |
14.52% |
|
| Food
Wholesalers |
183 |
0.68 |
58.24% |
17.44% |
0.48 |
4.32% |
0.50 |
0.3343 |
35.99% |
29.33% |
|
| Furn/Home
Furnishings |
383 |
0.97 |
25.73% |
15.39% |
0.81 |
13.50% |
0.94 |
0.3207 |
37.31% |
19.83% |
|
| Green &
Renewable Energy |
258 |
0.84 |
71.43% |
11.00% |
0.55 |
3.72% |
0.57 |
0.3628 |
39.03% |
33.54% |
|
| Healthcare
Products |
842 |
1.18 |
13.86% |
8.45% |
1.07 |
4.06% |
1.12 |
0.4226 |
48.39% |
27.87% |
|
| Healthcare
Support Services |
478 |
0.92 |
38.13% |
14.62% |
0.71 |
8.37% |
0.78 |
0.3930 |
42.40% |
20.70% |
|
| Heathcare
Information and Technology |
430 |
1.29 |
13.96% |
7.86% |
1.17 |
3.23% |
1.21 |
0.4492 |
54.35% |
38.46% |
|
| Homebuilding |
160 |
0.96 |
39.90% |
19.73% |
0.74 |
10.03% |
0.82 |
0.3194 |
32.37% |
37.63% |
|
| Hospitals/Healthcare
Facilities |
249 |
0.76 |
46.58% |
18.46% |
0.56 |
3.39% |
0.58 |
0.3212 |
36.00% |
24.07% |
|
| Hotel/Gaming |
656 |
0.80 |
40.24% |
15.06% |
0.61 |
6.43% |
0.66 |
0.3340 |
39.27% |
99.03% |
|
| Household
Products |
588 |
0.83 |
15.67% |
13.11% |
0.74 |
4.00% |
0.77 |
0.3872 |
40.42% |
11.06% |
|
| Information
Services |
86 |
1.02 |
31.98% |
19.82% |
0.83 |
5.41% |
0.87 |
0.3521 |
38.00% |
32.27% |
|
| Insurance
(General) |
204 |
0.51 |
30.06% |
15.38% |
0.42 |
11.91% |
0.47 |
0.3034 |
31.99% |
21.89% |
|
| Insurance
(Life) |
143 |
0.80 |
75.13% |
17.25% |
0.52 |
35.21% |
0.79 |
0.2720 |
30.01% |
17.06% |
|
| Insurance
(Prop/Cas.) |
248 |
0.43 |
16.34% |
19.38% |
0.38 |
6.66% |
0.41 |
0.2731 |
29.54% |
31.60% |
|
| Investments
& Asset Management |
1315 |
0.75 |
60.34% |
7.28% |
0.52 |
8.79% |
0.57 |
0.3197 |
36.86% |
30.20% |
|
| Machinery |
1553 |
1.37 |
13.56% |
15.99% |
1.24 |
6.47% |
1.33 |
0.3476 |
40.34% |
17.69% |
|
| Metals &
Mining |
1874 |
1.24 |
23.04% |
4.37% |
1.05 |
6.28% |
1.13 |
0.5370 |
74.74% |
51.57% |
|
| Office
Equipment & Services |
139 |
0.76 |
28.57% |
16.19% |
0.63 |
12.08% |
0.71 |
0.3073 |
36.87% |
7.09% |
|
| Oil/Gas
(Integrated) |
34 |
0.69 |
21.60% |
28.27% |
0.59 |
6.22% |
0.63 |
0.2144 |
29.12% |
66.31% |
|
| Oil/Gas
(Production and Exploration) |
539 |
0.89 |
35.82% |
8.96% |
0.70 |
6.38% |
0.75 |
0.4669 |
53.92% |
121.03% |
|
| Oil/Gas
Distribution |
186 |
0.65 |
61.54% |
12.14% |
0.45 |
2.89% |
0.46 |
0.3471 |
33.96% |
40.53% |
|
| Oilfield
Svcs/Equip. |
431 |
0.95 |
39.66% |
13.73% |
0.73 |
8.50% |
0.80 |
0.3715 |
42.21% |
61.31% |
|
| Packaging
& Container |
438 |
0.76 |
52.65% |
16.67% |
0.55 |
5.31% |
0.58 |
0.3191 |
34.41% |
12.62% |
|
| Paper/Forest
Products |
271 |
0.89 |
78.08% |
12.51% |
0.56 |
8.05% |
0.61 |
0.3058 |
36.75% |
37.74% |
|
| Power |
486 |
0.71 |
85.87% |
17.86% |
0.43 |
4.55% |
0.46 |
0.2609 |
30.61% |
21.92% |
|
| Precious
Metals |
777 |
1.40 |
9.06% |
5.11% |
1.31 |
4.72% |
1.37 |
0.5774 |
79.89% |
65.29% |
|
| Publishing
& Newspapers |
307 |
0.82 |
27.99% |
15.03% |
0.68 |
13.26% |
0.78 |
0.3130 |
36.18% |
13.60% |
|
| R.E.I.T. |
643 |
0.56 |
80.07% |
3.97% |
0.35 |
2.24% |
0.36 |
0.2051 |
22.81% |
20.53% |
|
| Real Estate
(Development) |
895 |
0.93 |
191.18% |
14.52% |
0.38 |
14.47% |
0.45 |
0.3518 |
43.16% |
49.13% |
|
| Real Estate
(General/Diversified) |
312 |
0.93 |
88.56% |
14.29% |
0.56 |
6.53% |
0.60 |
0.2920 |
33.51% |
13.41% |
|
| Real Estate
(Operations & Services) |
752 |
0.78 |
82.50% |
14.27% |
0.48 |
5.89% |
0.51 |
0.2987 |
36.27% |
15.20% |
|
| Recreation |
332 |
1.01 |
33.37% |
14.77% |
0.81 |
9.47% |
0.89 |
0.3565 |
38.88% |
25.75% |
|
| Reinsurance |
32 |
0.99 |
20.28% |
17.74% |
0.86 |
9.79% |
0.95 |
0.2533 |
30.57% |
42.04% |
|
| Restaurant/Dining |
410 |
0.75 |
26.01% |
15.21% |
0.63 |
4.33% |
0.66 |
0.3241 |
33.14% |
33.73% |
|
| Retail
(Automotive) |
212 |
0.83 |
52.75% |
16.93% |
0.60 |
4.92% |
0.63 |
0.3492 |
37.07% |
28.89% |
|
| Retail
(Building Supply) |
121 |
0.94 |
25.95% |
18.44% |
0.79 |
1.63% |
0.80 |
0.3039 |
34.32% |
26.26% |
|
| Retail
(Distributors) |
1079 |
0.81 |
48.34% |
17.48% |
0.60 |
6.98% |
0.64 |
0.3516 |
38.60% |
34.81% |
|
| Retail
(General) |
252 |
0.98 |
13.04% |
17.67% |
0.90 |
4.47% |
0.94 |
0.3193 |
36.15% |
29.13% |
|
| Retail
(Grocery and Food) |
215 |
0.87 |
45.96% |
20.81% |
0.65 |
5.81% |
0.69 |
0.2967 |
36.19% |
21.37% |
|
| Retail (REITs) |
113 |
0.61 |
71.13% |
6.82% |
0.40 |
2.52% |
0.41 |
0.1698 |
17.81% |
12.78% |
|
| Retail
(Special Lines) |
649 |
0.96 |
18.36% |
16.92% |
0.84 |
6.53% |
0.90 |
0.3547 |
39.75% |
20.94% |
|
| Rubber&
Tires |
91 |
0.94 |
44.12% |
18.04% |
0.71 |
9.35% |
0.78 |
0.2609 |
30.13% |
15.01% |
|
| Semiconductor |
675 |
1.88 |
4.13% |
8.46% |
1.82 |
2.58% |
1.87 |
0.3834 |
45.08% |
41.95% |
|
| Semiconductor
Equip |
391 |
2.13 |
5.61% |
12.19% |
2.04 |
3.63% |
2.12 |
0.3931 |
45.99% |
50.23% |
|
| Shipbuilding
& Marine |
359 |
0.87 |
41.69% |
15.06% |
0.67 |
15.28% |
0.79 |
0.3161 |
33.78% |
104.61% |
|
| Shoe |
84 |
0.92 |
14.29% |
15.07% |
0.83 |
7.16% |
0.89 |
0.3540 |
42.42% |
27.83% |
|
| Software
(Entertainment) |
298 |
1.25 |
3.14% |
10.87% |
1.22 |
1.36% |
1.23 |
0.4718 |
49.31% |
54.49% |
|
| Software
(Internet) |
150 |
1.39 |
10.01% |
11.32% |
1.30 |
3.12% |
1.34 |
0.4472 |
48.49% |
71.07% |
|
| Software
(System & Application) |
1532 |
1.35 |
5.84% |
9.04% |
1.30 |
2.52% |
1.33 |
0.4458 |
50.94% |
41.63% |
|
| Steel |
719 |
1.13 |
47.34% |
14.55% |
0.83 |
10.24% |
0.93 |
0.3241 |
37.70% |
59.21% |
|
| Telecom
(Wireless) |
101 |
0.78 |
49.97% |
17.67% |
0.57 |
5.46% |
0.60 |
0.3119 |
28.26% |
14.79% |
|
| Telecom.
Equipment |
437 |
1.33 |
9.62% |
8.27% |
1.24 |
4.55% |
1.30 |
0.4051 |
46.97% |
13.95% |
|
| Telecom.
Services |
283 |
0.73 |
73.18% |
15.40% |
0.47 |
4.99% |
0.50 |
0.3446 |
37.53% |
5.49% |
|
| Tobacco |
48 |
0.43 |
23.66% |
20.13% |
0.36 |
2.98% |
0.37 |
0.3863 |
40.50% |
13.38% |
|
| Transportation |
451 |
0.96 |
53.47% |
17.59% |
0.69 |
7.83% |
0.75 |
0.3257 |
36.86% |
31.41% |
|
| Transportation
(Railroads) |
54 |
0.72 |
47.44% |
24.19% |
0.53 |
4.08% |
0.55 |
0.2085 |
22.88% |
24.44% |
|
| Trucking |
130 |
0.85 |
39.87% |
20.03% |
0.65 |
3.30% |
0.68 |
0.3708 |
38.33% |
33.13% |
|
| Utility
(General) |
52 |
0.50 |
76.23% |
18.54% |
0.32 |
3.95% |
0.33 |
0.1795 |
20.73% |
27.06% |
|
| Utility
(Water) |
106 |
0.70 |
91.27% |
16.09% |
0.42 |
5.89% |
0.45 |
0.2468 |
42.07% |
14.66% |
|
| Total Market |
48156 |
1.04 |
51.48% |
13.31% |
0.75 |
9.70% |
0.83 |
0.3691 |
42.07% |
24.29% |
|
| Total Market
(without financials) |
43056 |
1.08 |
25.95% |
13.13% |
0.90 |
5.52% |
0.96 |
0.3765 |
43.02% |
24.86% |
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Betas
by Sector (Global)