Financing Flows by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2022

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 49  $                         1,248.78  $                            330.07  $                                 2,036.38  $             457.54 8.45%  $        12,875.38  $        11,296.77  $        (1,578.61) -7.27%  $        (1,321.59)
Aerospace/Defense 73  $                         9,754.71  $                       13,514.41  $                                 3,305.10  $       (19,964.02) -14.94%  $        37,760.78  $        32,004.39  $        (5,756.39) -3.09%  $         3,162.39
Air Transport 21  $                                1.91  $                              29.50  $                                 7,828.44  $          7,797.02 26.82%  $        33,245.96  $        34,658.81  $         1,412.85 1.07%  $      (16,583.83)
Apparel 39  $                         1,408.32  $                            872.40  $                                    628.85  $         (1,651.87) -7.14%  $          5,730.15  $          2,603.84  $        (3,126.32) -15.12%  $            238.16
Auto & Truck 26  $                            370.30  $                              82.33  $                                 8,111.12  $          7,658.49 7.89%  $      129,728.59  $      102,892.06  $      (26,836.53) -9.72%  $              29.44
Auto Parts 38  $                            635.90  $                            911.93  $                                 1,877.37  $             329.54 1.70%  $        14,264.09  $        14,024.06  $           (240.03) -0.99%  $              88.60
Bank (Money Center) 7  $                       25,650.66  $                       51,216.00  $                                    314.00  $       (76,552.66) -8.80%  $      263,011.00  $      281,269.00  $       18,258.00 0.89%  $                    -  
Banks (Regional) 563  $                       17,899.60  $                       11,645.92  $                                 8,723.47  $       (20,822.05) -3.80%  $      172,505.55  $        86,260.25  $      (86,245.30) -30.41%  $                    -  
Beverage (Alcoholic) 21  $                         1,102.93  $                         1,382.42  $                                    258.47  $         (2,226.88) -7.48%  $          4,595.58  $          1,949.68  $        (2,645.90) -12.51%  $        (1,382.27)
Beverage (Soft) 32  $                       15,653.94  $                         1,194.68  $                                 1,344.13  $       (15,504.50) -24.79%  $        33,973.36  $        16,910.28  $      (17,063.08) -17.27%  $         1,154.77
Broadcasting 28  $                         1,356.68  $                         2,223.41  $                                 2,153.63  $         (1,426.46) -3.21%  $        10,943.08  $          8,492.75  $        (2,450.33) -2.88%  $            423.16
Brokerage & Investment Banking 31  $                         8,290.28  $                       17,715.50  $                                 2,492.73  $       (23,513.05) -10.76%  $      143,032.92  $      211,854.16  $       68,821.24 6.72%  $            372.10
Building Materials 44  $                         1,556.47  $                         4,976.58  $                                    812.76  $         (5,720.29) -17.35%  $        16,476.83  $        15,006.15  $        (1,470.68) -3.74%  $             (61.81)
Business & Consumer Services 160  $                         3,204.54  $                         7,383.93  $                                 5,826.96  $         (4,761.50) -6.16%  $        37,125.38  $        39,609.03  $         2,483.65 2.63%  $            968.30
Cable TV 11  $                         4,744.90  $                       27,517.13  $                                    119.50  $       (32,142.53) -21.93%  $        44,915.60  $        51,602.30  $         6,686.70 2.51%  $        (1,168.70)
Chemical (Basic) 35  $                         4,176.41  $                            945.64  $                                 1,034.40  $         (4,087.65) -12.73%  $        15,024.06  $        12,321.58  $        (2,702.49) -5.74%  $            102.15
Chemical (Diversified) 4  $                            318.00  $                            192.33  $                                      30.00  $            (480.33) -11.61%  $          2,775.04  $          1,912.07  $           (862.98) -14.60%  $              40.14
Chemical (Specialty) 81  $                         7,084.75  $                         9,308.34  $                                 4,037.40  $       (12,355.69) -8.30%  $        27,498.66  $        15,471.81  $      (12,026.85) -11.21%  $         1,387.15
Coal & Related Energy 18  $                                6.13  $                              10.83  $                                    559.13  $             542.17 23.56%  $             443.38  $             357.30  $             (86.08) -3.02%  $           (415.15)
Computer Services 83  $                         6,900.74  $                         7,348.07  $                                 1,125.70  $       (13,123.11) -21.03%  $        33,493.03  $        19,417.22  $      (14,075.81) -17.76%  $        (1,254.49)
Computers/Peripherals 46  $                       17,057.10  $                     100,578.51  $                                 2,379.43  $     (115,256.18) -116.91%  $        36,685.64  $        47,838.06  $       11,152.42 5.11%  $       30,344.09
Construction Supplies 48  $                         4,472.80  $                         4,694.50  $                                 2,477.11  $         (6,690.18) -9.40%  $        29,902.48  $        29,207.45  $           (695.03) -0.85%  $           (682.35)
Diversified 22  $                         6,888.86  $                       34,610.30  $                                 1,801.20  $       (39,697.97) -7.99%  $        40,778.08  $        24,457.20  $      (16,320.88) -6.95%  $        (1,533.43)
Drugs (Biotechnology) 581  $                       16,647.24  $                       14,111.66  $                               56,054.99  $        25,296.09 16.58%  $        17,727.88  $        16,859.74  $           (868.15) -0.48%  $         4,658.88
Drugs (Pharmaceutical) 298  $                       34,442.85  $                       11,292.10  $                               11,634.19  $       (34,100.76) -12.88%  $        45,734.38  $        37,316.97  $        (8,417.40) -3.57%  $         2,227.02
Education 35  $                              88.70  $                         1,265.64  $                                 3,060.03  $          1,705.70 11.77%  $          3,449.84  $          2,966.16  $           (483.68) -6.18%  $            122.38
Electrical Equipment 104  $                         2,644.68  $                         2,264.96  $                                 8,659.57  $          3,749.93 10.99%  $        10,620.00  $        13,449.15  $         2,829.15 7.58%  $            107.10
Electronics (Consumer & Office) 16  $                                   -    $                            231.35  $                                    730.66  $             499.31 41.67%  $             414.66  $             221.38  $           (193.28) -26.23%  $              35.65
Electronics (General) 137  $                         1,582.23  $                         2,938.95  $                                 3,479.51  $         (1,041.67) -1.79%  $        13,966.02  $        18,137.66  $         4,171.64 10.99%  $            521.05
Engineering/Construction 48  $                            161.69  $                         1,958.80  $                                 1,672.83  $            (447.67) -1.58%  $        15,181.31  $        18,108.98  $         2,927.67 14.22%  $        (1,286.21)
Entertainment 108  $                            912.76  $                         3,066.22  $                                 7,724.42  $          3,745.44 2.79%  $        12,025.54  $        10,939.96  $        (1,085.57) -0.97%  $        (3,206.48)
Environmental & Waste Services 58  $                         1,738.60  $                         1,415.54  $                                    323.98  $         (2,830.16) -10.55%  $        20,500.75  $        22,645.42  $         2,144.67 6.63%  $           (887.07)
Farming/Agriculture 36  $                         2,307.16  $                         3,318.38  $                                 1,096.22  $         (4,529.32) -9.56%  $        47,321.06  $        50,894.40  $         3,573.34 5.02%  $             (22.71)
Financial Svcs. (Non-bank & Insurance) 223  $                       16,674.56  $                       27,382.62  $                                 3,384.86  $       (40,672.32) -41.81%  $   3,373,482.94  $   3,357,285.85  $      (16,197.10) -0.21%  $            309.73
Food Processing 92  $                       10,024.98  $                         6,215.25  $                                 1,502.69  $       (14,737.54) -9.12%  $        39,921.78  $        34,587.86  $        (5,333.92) -4.03%  $         1,127.94
Food Wholesalers 15  $                            980.90  $                              65.42  $                                    193.37  $            (852.96) -8.17%  $        11,222.84  $          9,174.83  $        (2,048.00) -8.05%  $           (418.51)
Furn/Home Furnishings 32  $                            988.99  $                         2,850.76  $                                    917.25  $         (2,922.50) -16.57%  $          6,758.93  $          6,211.16  $           (547.76) -3.80%  $            395.62
Green & Renewable Energy 20  $                            466.90  $                              10.80  $                                    519.00  $               41.30 1.15%  $          5,051.20  $          7,229.43  $         2,178.23 11.75%  $             (25.73)
Healthcare Products 244  $                         6,087.21  $                         7,960.84  $                               10,284.68  $         (3,763.38) -2.21%  $        22,592.78  $        15,765.12  $        (6,827.67) -6.83%  $         1,013.83
Healthcare Support Services 131  $                       12,187.56  $                       27,085.15  $                               11,135.80  $       (28,136.91) -9.23%  $        69,985.64  $        71,209.23  $         1,223.59 0.48%  $         4,641.43
Heathcare Information and Technology 142  $                         1,717.81  $                         8,942.78  $                               14,306.69  $          3,646.10 2.76%  $        34,813.86  $        42,199.21  $         7,385.36 7.04%  $         1,759.30
Homebuilding 29  $                         1,096.30  $                         4,803.38  $                                    451.90  $         (5,447.79) -7.93%  $        18,058.83  $        18,583.43  $            524.60 1.36%  $           (494.27)
Hospitals/Healthcare Facilities 31  $                            835.80  $                         7,023.93  $                                    350.01  $         (7,509.72) -75.29%  $        28,142.14  $        25,399.83  $        (2,742.31) -3.36%  $           (504.38)
Hotel/Gaming 66  $                            238.23  $                         3,951.22  $                               15,725.55  $        11,536.10 18.62%  $        43,155.14  $        39,325.06  $        (3,830.09) -1.69%  $         2,133.86
Household Products 118  $                       14,114.12  $                       18,618.25  $                                 2,930.14  $       (29,802.23) -43.86%  $        22,671.14  $        20,802.52  $        (1,868.62) -2.06%  $             (65.61)
Information Services 79  $                         9,330.30  $                       28,584.34  $                                 7,209.31  $       (30,705.33) -15.96%  $        96,586.09  $      106,077.50  $         9,491.41 5.90%  $         1,590.44
Insurance (General) 23  $                         4,730.28  $                         6,011.94  $                                 3,765.83  $         (6,976.39) -5.74%  $        14,155.82  $          9,984.81  $        (4,171.01) -6.61%  $            507.30
Insurance (Life) 24  $                         5,767.79  $                       10,822.19  $                                 3,340.28  $       (13,249.70) -4.75%  $          7,087.84  $          1,265.71  $        (5,822.13) -3.06%  $            454.36
Insurance (Prop/Cas.) 52  $                         7,305.66  $                         6,674.59  $                                 2,439.83  $       (11,540.43) -6.69%  $        33,733.16  $        34,594.98  $            861.82 1.32%  $             (68.87)
Investments & Asset Management 687  $                       13,730.29  $                       11,443.17  $                               71,466.90  $        46,293.44 25.20%  $        49,730.27  $        49,335.60  $           (394.66) -0.18%  $         1,243.96
Machinery 111  $                         5,155.90  $                         4,395.92  $                                 3,579.91  $         (5,971.92) -6.79%  $        23,746.94  $        14,688.11  $        (9,058.83) -13.51%  $            392.76
Metals & Mining 74  $                         2,460.08  $                            129.34  $                                    975.52  $         (1,613.91) -6.83%  $          5,299.05  $          4,948.57  $           (350.48) -1.45%  $           (444.21)
Office Equipment & Services 18  $                            310.70  $                            100.76  $                                      59.44  $            (352.02) -6.87%  $          4,343.39  $          5,529.14  $         1,185.75 17.47%  $              45.60
Oil/Gas (Integrated) 4  $                       24,990.36  $                            363.90  $                                      32.00  $       (25,322.26) -7.93%  $        13,668.50  $      (12,863.70)  $      (26,532.20) -20.99%  $        (1,085.10)
Oil/Gas (Production and Exploration) 183  $                         6,193.40  $                         3,452.58  $                                 2,963.69  $         (6,682.30) -4.47%  $        67,208.50  $        54,450.76  $      (12,757.74) -10.04%  $        (4,712.39)
Oil/Gas Distribution 21  $                         7,984.59  $                         1,123.73  $                                    178.44  $         (8,929.88) -14.16%  $        26,197.96  $        22,686.01  $        (3,511.94) -2.69%  $        (1,823.41)
Oilfield Svcs/Equip. 100  $                         6,470.77  $                         2,266.17  $                                 3,415.16  $         (5,321.78) -4.11%  $        47,970.10  $        40,601.49  $        (7,368.61) -6.13%  $        (7,824.63)
Packaging & Container 26  $                         2,660.10  $                         2,585.59  $                                    417.93  $         (4,827.76) -12.29%  $        29,595.84  $        24,238.29  $        (5,357.56) -6.94%  $            262.80
Paper/Forest Products 11  $                            189.04  $                         1,252.80  $                                        5.17  $         (1,436.67) -36.50%  $             801.36  $          3,227.59  $         2,426.23 50.59%  $           (244.77)
Power 50  $                       23,216.54  $                            544.22  $                               10,041.73  $       (13,719.04) -3.95%  $        78,437.56  $      124,972.50  $       46,534.94 8.16%  $        (2,668.45)
Precious Metals 76  $                         1,807.64  $                            487.18  $                                    663.65  $         (1,631.17) -5.64%  $          1,275.11  $             647.79  $           (627.32) -8.14%  $           (340.23)
Publishing & Newspapers 21  $                            385.13  $                              85.29  $                                    183.17  $            (287.25) -2.18%  $          7,058.68  $          7,721.94  $            663.26 7.11%  $            155.89
R.E.I.T. 238  $                       45,792.00  $                         3,400.46  $                               47,608.97  $         (1,583.49) -0.30%  $   5,273,518.66  $   5,295,982.62  $       22,463.96 2.50%  $         1,911.24
Real Estate (Development) 19  $                                0.01  $                                5.22  $                                    139.13  $             133.90 2.70%  $          2,285.76  $          2,610.39  $            324.63 5.63%  $               (3.00)
Real Estate (General/Diversified) 10  $                              43.20  $                              24.53  $                                            -    $              (67.73) -3.09%  $               21.77  $             105.52  $              83.75 7.00%  $             (62.27)
Real Estate (Operations & Services) 51  $                            174.01  $                         1,196.94  $                                 2,263.64  $             892.69 4.02%  $        27,501.85  $        40,234.90  $       12,733.04 35.78%  $         4,428.55
Recreation 60  $                         1,251.87  $                         1,699.37  $                                 2,415.55  $            (535.69) -4.67%  $        11,526.14  $        12,052.08  $            525.94 1.81%  $            757.74
Reinsurance 2  $                            193.00  $                            319.90  $                                            -    $            (512.90) -2.35%  $             599.60  $             579.20  $             (20.40) -0.34%  $              43.20
Restaurant/Dining 70  $                         7,787.18  $                         4,464.93  $                                 2,313.01  $         (9,939.10) 56.25%  $        22,196.58  $        15,217.35  $        (6,979.23) -7.71%  $            451.05
Retail (Automotive) 32  $                            466.46  $                       11,479.23  $                                 2,928.02  $         (9,017.67) -38.89%  $        53,392.25  $        58,657.76  $         5,265.51 9.43%  $            304.06
Retail (Building Supply) 16  $                         8,985.82  $                       24,973.56  $                                    683.98  $       (33,275.41) -293.57%  $          4,085.01  $        13,163.76  $         9,078.75 12.95%  $           (859.50)
Retail (Distributors) 68  $                         2,563.87  $                         2,490.65  $                                 2,338.09  $         (2,716.44) -5.84%  $        51,486.39  $        52,518.77  $         1,032.38 1.49%  $         1,284.55
Retail (General) 16  $                         9,657.38  $                       21,171.09  $                                    111.02  $       (30,717.44) -22.54%  $        22,014.25  $        12,266.46  $        (9,747.79) -11.52%  $         3,517.20
Retail (Grocery and Food) 15  $                            873.89  $                         1,841.96  $                                    222.24  $         (2,493.60) -14.12%  $          3,963.83  $          2,634.50  $        (1,329.33) -5.23%  $            495.70
Retail (Online) 60  $                            521.70  $                         6,164.69  $                                 7,346.73  $             660.34 0.75%  $        22,782.24  $        33,089.26  $       10,307.02 9.42%  $       13,732.18
Retail (Special Lines) 76  $                         4,861.37  $                         9,359.59  $                                 4,220.26  $       (10,000.69) -17.03%  $        46,838.49  $        30,144.74  $      (16,693.75) -37.49%  $      (11,213.93)
Rubber& Tires 2  $                                   -    $                                   -    $                                        9.00  $                 9.00 0.31%  $          7,282.00  $          8,780.00  $         1,498.00 18.05%  $             (47.96)
Semiconductor 67  $                       21,526.11  $                       21,842.73  $                                 4,209.80  $       (39,159.04) -16.80%  $        42,615.89  $        49,212.50  $         6,596.61 4.18%  $         2,372.06
Semiconductor Equip 34  $                         2,442.20  $                         9,682.98  $                                 1,174.50  $       (10,950.69) -31.43%  $          3,462.75  $          2,747.64  $           (715.11) -3.52%  $         1,384.19
Shipbuilding & Marine 8  $                              82.66  $                            134.16  $                                    103.13  $            (113.69) -2.10%  $          1,589.90  $             946.60  $           (643.30) -22.39%  $             (87.36)
Shoe 12  $                         1,864.33  $                         1,031.85  $                                      48.56  $         (2,847.62) -17.51%  $          1,790.90  $          2,206.70  $            415.80 3.55%  $            115.81
Software (Entertainment) 88  $                            401.42  $                       80,074.52  $                                 4,409.62  $       (76,066.32) -21.39%  $        20,213.96  $        21,890.52  $         1,676.56 4.86%  $         8,062.04
Software (Internet) 36  $                              26.10  $                         1,834.28  $                                 4,532.66  $          2,672.28 13.23%  $          5,817.68  $          9,392.41  $         3,574.74 14.74%  $            700.04
Software (System & Application) 375  $                       24,431.65  $                       74,044.91  $                               36,204.93  $       (62,271.63) -22.30%  $        45,193.21  $        65,801.32  $       20,608.11 7.58%  $         5,964.44
Steel 28  $                         1,168.54  $                         2,972.93  $                                 1,281.56  $         (2,859.91) -8.28%  $        15,069.46  $        13,885.10  $        (1,184.36) -4.23%  $            289.50
Telecom (Wireless) 17  $                            106.68  $                            444.52  $                                      25.60  $            (525.60) -0.71%  $        20,149.45  $        25,644.10  $         5,494.65 6.40%  $       15,828.50
Telecom. Equipment 82  $                         7,082.02  $                         5,702.38  $                                 1,860.77  $       (10,923.62) -17.75%  $        10,446.63  $          5,341.92  $        (5,104.70) -13.93%  $              49.99
Telecom. Services 42  $                       26,511.09  $                         1,566.13  $                                    772.57  $       (27,304.65) -10.51%  $        40,468.82  $        91,932.89  $       51,464.07 13.22%  $         4,622.69
Tobacco 16  $                       14,103.59  $                         1,092.11  $                                      92.53  $       (15,103.17) 192.08%  $          9,572.95  $          8,391.17  $        (1,181.78) -1.94%  $           (111.27)
Transportation 17  $                         4,590.00  $                         2,144.55  $                                    993.61  $         (5,740.94) -16.14%  $        15,313.79  $          9,415.51  $        (5,898.28) -11.86%  $         6,505.14
Transportation (Railroads) 4  $                         4,530.00  $                       12,053.00  $                                      24.00  $       (16,559.00) -36.92%  $          4,259.00  $          6,202.00  $         1,943.00 3.23%  $           (408.00)
Trucking 34  $                            770.29  $                         2,389.96  $                                 6,087.43  $          2,927.19 7.25%  $        41,403.07  $        38,463.83  $        (2,939.24) -5.18%  $           (561.77)
Utility (General) 16  $                         9,636.80  $                            887.00  $                                 3,921.20  $         (6,602.60) -4.67%  $        25,351.50  $        44,008.20  $       18,656.70 8.31%  $            152.22
Utility (Water) 14  $                            851.02  $                              27.18  $                                    623.98  $            (254.23) -1.77%  $          2,579.17  $          3,450.12  $            870.94 4.15%  $              55.59
Total Market 7229  $                     591,708.80  $                     842,299.69  $                             465,119.58  $     (968,888.91) -9.81%  $ 11,371,272.41  $ 11,369,806.49  $        (1,465.92) -0.01%  $       71,163.33
Total Market (without financials) 5619  $                     491,659.68  $                     699,387.76  $                             369,191.69  $     (821,855.75) -11.13%  $   7,314,532.91  $   7,337,956.12  $       23,423.21 0.28%  $       68,344.75

Last updated in January 2022
By Aswath Damodaran