Industry Name Number of firms Lease Expense/ Sales Total Debt without leases (US $ millions) Total Debt with Leases (US $ millions) Lease Debt as % of Total Debt Market Debt to Capital without  leases Market Debt to Capital with leases Book Debt to Capital without leases Book Debt to Capital with leases Operating income (before lease adj) (US $ millions) Operating income (after lease adj) (US $ millions) ROIC (without leases) ROIC (with leases) Pre-tax Operating Margin (before lease adj) Pre-tax Operating Margin (after lease adj)
Advertising 40 5.94% $16,334.04 $22,286.88 26.71% 35.58% 42.49% 83.50% 87.12% $3,738.69 $3,683.89 -229.45% 77.90% 12.59% 12.40%
Aerospace/Defense 87 0.72% $112,899.82 $129,966.40 13.13% 14.51% 15.58% 52.17% 54.26% $44,778.65 $45,125.38 91.86% 66.31% 11.72% 11.81%
Air Transport 17 5.29% $55,634.08 $110,457.31 49.63% 28.98% 41.52% 55.55% 68.49% $22,448.58 $21,334.38 26.49% 13.55% 13.51% 12.84%
Apparel 51 4.63% $17,857.40 $32,156.48 44.47% 18.00% 25.48% 44.02% 55.04% $6,559.92 $6,587.84 21.70% 14.27% 10.89% 10.94%
Auto & Truck 18 0.27% $38,617.65 $264,396.11 85.39% 59.37% 59.69% 75.01% 75.26% $13,538.92 $13,663.28 20.05% 4.36% 3.93% 3.96%
Auto Parts 62 0.68% $16,150.73 $18,087.26 10.71% 20.46% 22.06% 42.88% 45.23% $6,963.00 $7,060.29 33.10% 30.52% 8.96% 9.08%
Bank (Money Center) 11 2.93% $1,939,082.45 $1,987,518.56 2.44% 60.72% 61.13% 65.79% 66.17% $0.00 -$237.92 0.00% -0.01% 0.00% -0.07%
Banks (Regional) 612 2.97% $374,795.96 $414,980.88 9.68% 35.91% 36.98% 45.68% 46.82% $0.00 -$259.79 0.00% -0.03% 0.00% -0.16%
Beverage (Alcoholic) 28 0.57% $22,575.77 $24,361.76 7.33% 20.24% 20.73% 50.41% 51.15% $5,395.19 $5,386.27 26.77% 24.33% 23.45% 23.41%
Beverage (Soft) 35 0.71% $92,350.47 $98,927.73 6.65% 18.26% 18.74% 68.98% 69.65% $23,036.11 $23,194.14 27.57% 25.60% 19.19% 19.32%
Broadcasting 27 3.54% $72,001.17 $78,337.23 8.09% 51.32% 52.87% 88.55% 89.17% $11,301.34 $11,385.53 24.79% 21.38% 23.28% 23.45%
Brokerage & Investment Banking 42 2.77% $720,192.80 $766,895.52 6.09% 68.45% 68.74% 77.17% 77.41% $482.30 $150.95 0.06% 0.02% 0.34% 0.11%
Building Materials 39 1.06% $18,416.50 $20,743.53 11.22% 16.31% 17.67% 48.17% 50.57% $6,423.10 $6,586.35 20.54% 19.20% 10.06% 10.31%
Business & Consumer Services 169 1.84% $36,936.35 $46,471.78 20.52% 18.76% 21.53% 53.33% 57.59% $10,831.86 $11,188.97 35.12% 26.92% 10.15% 10.49%
Cable TV 14 1.01% $180,904.52 $196,612.46 7.99% 34.04% 34.66% 59.14% 59.80% $29,716.90 $29,605.95 14.01% 12.75% 18.31% 18.25%
Chemical (Basic) 38 1.24% $15,180.80 $17,460.35 13.06% 26.99% 29.22% 56.17% 58.87% $3,496.23 $3,502.71 16.54% 14.80% 10.89% 10.91%
Chemical (Diversified) 7 1.13% $48,650.10 $53,685.83 9.38% 20.52% 21.37% 30.97% 32.08% $9,768.80 $9,791.61 20.67% 18.49% 12.01% 12.03%
Chemical (Specialty) 99 1.60% $79,143.73 $91,076.49 13.10% 21.28% 22.48% 52.89% 54.64% $18,506.60 $18,865.37 21.46% 18.97% 13.24% 13.50%
Coal & Related Energy 30 2.91% $4,470.76 $5,367.75 16.71% 28.27% 31.23% 44.40% 47.92% $1,178.14 $1,340.64 8.22% 8.78% 7.79% 8.87%
Computer Services 111 1.07% $78,614.45 $98,408.31 20.11% 21.38% 23.57% 52.33% 55.45% $23,985.79 $24,486.78 54.20% 37.05% 8.13% 8.30%
Computers/Peripherals 58 0.61% $154,496.59 $178,988.80 13.68% 14.47% 15.38% 47.83% 49.62% $72,642.25 $72,477.48 32.94% 29.42% 19.81% 19.76%
Construction Supplies 49 0.81% $33,705.29 $78,885.88 57.27% 23.61% 24.51% 56.54% 57.75% $13,528.32 $13,642.23 22.37% 11.85% 9.54% 9.62%
Diversified 24 0.87% $276,882.92 $307,626.86 9.99% 23.68% 24.52% 38.71% 39.81% $58,475.33 $58,530.52 12.58% 11.71% 12.94% 12.95%
Drugs (Biotechnology) 459 0.88% $130,069.19 $146,056.75 10.95% 13.12% 13.67% 48.35% 49.54% $32,892.66 $32,766.32 21.22% 19.14% 25.01% 24.92%
Drugs (Pharmaceutical) 185 0.63% $141,507.89 $151,921.50 6.85% 12.39% 12.76% 40.66% 41.48% $53,321.65 $53,355.95 27.50% 26.09% 23.61% 23.63%
Education 34 3.83% $5,822.68 $9,952.84 41.50% 19.46% 27.97% 36.02% 47.50% $1,475.63 $1,448.30 19.24% 11.90% 8.33% 8.17%
Electrical Equipment 118 1.32% $17,015.76 $20,753.01 18.01% 12.67% 13.68% 38.44% 40.56% $6,719.92 $6,877.11 28.73% 25.17% 11.62% 11.89%
Electronics (Consumer & Office) 24 0.98% $393.20 $584.85 32.77% 4.64% 6.49% 27.80% 35.45% -$115.61 -$115.44 -11.66% -9.66% -3.36% -3.36%
Electronics (General) 167 0.91% $23,530.41 $28,383.01 17.10% 11.84% 13.02% 29.03% 31.31% $8,843.04 $8,996.05 18.80% 17.19% 9.32% 9.48%
Engineering/Construction 49 1.73% $14,462.29 $19,782.11 26.89% 18.43% 22.91% 31.94% 38.17% $4,650.42 $4,894.62 22.93% 18.52% 4.07% 4.29%
Entertainment 90 2.06% $94,720.42 $119,116.05 20.48% 22.33% 25.23% 46.73% 50.72% $32,938.54 $32,595.21 41.76% 31.14% 20.93% 20.72%
Environmental & Waste Services 87 2.71% $27,888.69 $32,709.52 14.74% 24.12% 25.85% 56.57% 58.83% $5,745.51 $5,985.53 24.94% 21.31% 12.03% 12.54%
Farming/Agriculture 34 0.63% $25,634.54 $63,006.10 59.31% 34.82% 35.71% 56.40% 57.35% $7,095.48 $7,309.20 12.75% 7.60% 4.36% 4.50%
Financial Svcs. (Non-bank & Insurance) 264 1.27% $5,839,973.64 $5,903,408.26 1.07% 91.15% 91.17% 95.78% 95.79% $15,102.28 $14,765.80 0.21% 0.20% 7.45% 7.28%
Food Processing 87 0.88% $119,835.30 $132,851.06 9.80% 22.75% 23.56% 45.87% 47.00% $32,370.29 $32,644.27 22.33% 20.36% 14.09% 14.21%
Food Wholesalers 15 0.43% $15,156.69 $17,555.73 13.67% 25.42% 27.25% 63.00% 65.17% $3,498.10 $3,560.90 23.15% 19.96% 2.93% 2.98%
Furn/Home Furnishings 31 1.40% $11,281.91 $14,354.50 21.41% 19.27% 21.79% 41.56% 45.37% $4,123.91 $4,262.45 22.49% 19.50% 9.12% 9.42%
Green & Renewable Energy 22 2.20% $6,158.68 $7,587.38 18.83% 47.57% 49.55% 52.29% 54.27% $278.78 $204.78 3.07% 1.94% 16.01% 11.76%
Healthcare Products 251 0.88% $97,992.99 $109,835.55 10.78% 14.01% 14.59% 39.73% 40.86% $22,409.21 $22,674.07 22.47% 20.22% 15.16% 15.34%
Healthcare Support Services 115 0.34% $136,598.81 $163,870.60 16.64% 18.52% 19.89% 42.06% 44.23% $55,810.06 $56,636.24 71.43% 51.61% 4.61% 4.68%
Heathcare Information and Technology 112 1.32% $48,538.24 $55,421.20 12.42% 15.16% 16.17% 41.98% 43.86% $9,120.72 $9,216.38 23.25% 19.80% 13.63% 13.77%
Homebuilding 32 0.37% $35,752.41 $40,754.28 12.27% 27.95% 28.39% 44.49% 45.03% $9,193.93 $9,274.77 9.88% 9.31% 10.02% 10.11%
Hospitals/Healthcare Facilities 35 2.21% $88,785.85 $112,984.06 21.42% 60.19% 63.84% 85.24% 87.08% $12,106.45 $11,572.28 17.12% 11.84% 9.22% 8.81%
Hotel/Gaming 70 1.34% $109,312.18 $131,850.05 17.09% 27.08% 28.52% 62.61% 64.28% $21,916.89 $21,109.71 13.78% 11.39% 20.35% 19.60%
Household Products 131 1.01% $77,876.36 $102,240.66 23.83% 16.26% 17.37% 49.73% 51.72% $31,626.13 $31,791.27 44.94% 32.88% 18.15% 18.24%
Information Services 61 1.58% $108,548.51 $132,417.66 18.03% 12.95% 13.58% 53.18% 54.52% $38,824.79 $39,275.49 47.25% 35.53% 25.03% 25.32%
Insurance (General) 21 0.95% $61,793.43 $68,445.20 9.72% 26.28% 27.80% 29.87% 31.50% $6,483.60 $6,579.79 2.88% 2.82% 5.03% 5.11%
Insurance (Life) 25 0.44% $119,845.07 $127,269.34 5.83% 35.71% 36.33% 36.53% 37.16% $17,289.92 $17,329.27 4.49% 4.40% 8.19% 8.21%
Insurance (Prop/Cas.) 50 0.60% $52,525.07 $59,220.87 11.31% 19.72% 20.90% 29.44% 30.97% $16,439.86 $16,607.34 8.59% 8.32% 9.20% 9.30%
Investments & Asset Management 165 1.66% $144,373.62 $153,934.25 6.21% 28.60% 29.62% 45.92% 47.14% $18,168.12 $18,028.65 10.64% 9.95% 20.10% 19.95%
Machinery 126 0.99% $57,348.86 $63,833.48 10.16% 15.65% 16.49% 45.48% 47.02% $18,750.56 $19,104.66 33.20% 29.84% 13.35% 13.60%
Metals & Mining 102 0.52% $21,875.24 $25,217.17 13.25% 22.95% 23.39% 46.63% 47.25% $7,053.60 $7,104.12 15.36% 14.41% 17.82% 17.94%
Office Equipment & Services 24 1.54% $6,870.66 $8,772.79 21.68% 30.98% 34.06% 58.37% 61.73% $1,825.03 $1,938.51 25.40% 20.37% 8.06% 8.56%
Oil/Gas (Integrated) 5 1.20% $90,470.00 $99,182.39 8.78% 12.47% 13.26% 20.53% 21.70% $9,829.00 $10,447.12 2.10% 2.18% 2.76% 2.94%
Oil/Gas (Production and Exploration) 311 1.32% $193,088.85 $212,249.41 9.03% 28.59% 29.53% 43.64% 44.77% -$312.13 $408.54 -0.08% 0.10% -0.20% 0.26%
Oil/Gas Distribution 16 1.02% $100,157.23 $106,811.62 6.23% 47.87% 48.30% 59.91% 60.32% $8,493.40 $8,574.32 6.39% 6.13% 17.63% 17.80%
Oilfield Svcs/Equip. 130 1.36% $97,818.34 $114,733.40 14.74% 21.44% 23.65% 30.87% 33.64% $13,642.38 $14,524.38 6.82% 6.66% 3.03% 3.23%
Packaging & Container 25 0.94% $59,250.90 $65,034.18 8.89% 32.36% 33.43% 64.99% 66.10% $11,259.34 $11,444.69 16.36% 15.00% 9.84% 10.00%
Paper/Forest Products 21 0.63% $6,182.37 $6,874.69 10.07% 26.72% 28.58% 40.79% 43.05% $1,258.75 $1,266.88 8.95% 8.52% 5.40% 5.43%
Power 61 1.58% $435,628.62 $486,931.26 10.54% 42.08% 43.30% 57.68% 58.89% $57,691.29 $56,464.67 7.11% 6.44% 18.33% 17.94%
Precious Metals 111 0.63% $5,501.78 $5,793.06 5.03% 14.95% 15.15% 20.79% 21.04% $1,823.35 $1,838.16 7.70% 7.67% 17.24% 17.38%
Publishing & Newspapers 41 1.60% $11,853.31 $16,465.11 28.01% 25.18% 30.79% 37.18% 43.90% $3,593.49 $3,513.97 17.46% 13.61% 7.60% 7.43%
R.E.I.T. 244 2.42% $690,832.17 $897,646.33 23.04% 42.53% 43.98% 60.31% 61.72% $45,376.13 $38,888.25 4.32% 3.08% 26.03% 22.31%
Real Estate (Development) 20 0.75% $3,399.61 $3,688.46 7.83% 29.74% 31.18% 40.37% 42.02% $203.54 $167.83 2.87% 2.27% 14.05% 11.59%
Real Estate (General/Diversified) 10 1.05% $888.94 $934.14 4.84% 18.53% 19.10% 22.14% 22.78% $98.77 $99.48 4.38% 4.32% 14.53% 14.64%
Real Estate (Operations & Services) 60 2.20% $18,638.77 $22,008.21 15.31% 28.63% 31.84% 55.12% 58.86% $2,461.98 $2,474.36 13.19% 11.07% 7.52% 7.56%
Recreation 70 1.61% $14,595.49 $17,709.26 17.58% 20.26% 22.83% 51.14% 54.92% $4,004.03 $4,011.96 19.00% 16.35% 10.90% 10.92%
Reinsurance 3 0.28% $5,071.70 $5,375.10 5.64% 20.81% 21.71% 22.94% 23.89% $1,363.95 $1,356.57 6.10% 5.97% 7.35% 7.31%
Restaurant/Dining 81 4.98% $66,891.09 $107,644.03 37.86% 17.13% 24.36% 94.12% 96.14% $19,902.36 $17,815.07 35.11% 17.03% 16.25% 14.55%
Retail (Automotive) 25 1.67% $45,460.66 $61,684.00 26.30% 36.85% 43.17% 75.29% 79.86% $8,917.89 $8,039.80 15.53% 10.38% 5.98% 5.39%
Retail (Building Supply) 8 0.99% $40,474.43 $54,396.91 25.59% 12.11% 15.15% 81.97% 85.49% $20,854.57 $20,073.66 41.88% 30.30% 12.08% 11.63%
Retail (Distributors) 92 1.53% $55,324.19 $64,550.58 14.29% 28.83% 31.31% 58.42% 61.25% $11,339.26 $11,796.26 14.41% 13.18% 7.66% 7.97%
Retail (General) 18 0.90% $86,979.79 $154,734.87 43.79% 17.28% 23.75% 45.50% 55.46% $38,408.39 $35,876.07 17.99% 11.90% 4.50% 4.21%
Retail (Grocery and Food) 14 0.82% $17,217.54 $29,813.39 42.25% 36.18% 45.56% 65.17% 73.42% $4,198.32 $3,706.88 15.89% 8.75% 2.64% 2.33%
Retail (Online) 61 0.84% $57,165.96 $91,068.12 37.23% 9.04% 10.24% 48.21% 51.69% $9,379.88 $9,044.12 32.60% 13.82% 3.90% 3.76%
Retail (Special Lines) 106 3.87% $79,541.95 $210,206.96 62.16% 17.43% 34.64% 42.02% 64.54% $38,929.91 $36,225.29 27.63% 11.74% 6.26% 5.82%
Rubber& Tires 4 1.86% $6,361.17 $7,756.29 17.99% 40.40% 43.82% 51.28% 54.78% $1,766.74 $1,853.43 17.07% 15.62% 9.83% 10.31%
Semiconductor 72 0.55% $88,483.65 $102,150.74 13.38% 11.21% 11.58% 33.22% 34.04% $46,584.56 $46,746.10 25.51% 23.67% 24.93% 25.02%
Semiconductor Equip 45 0.51% $14,345.23 $16,284.77 11.91% 9.95% 10.34% 33.20% 34.17% $9,991.10 $10,082.51 52.17% 47.40% 22.35% 22.55%
Shipbuilding & Marine 9 6.15% $2,900.23 $3,634.66 20.21% 29.42% 31.95% 37.96% 40.80% $285.78 $359.17 4.35% 4.88% 5.89% 7.40%
Shoe 11 2.57% $5,712.77 $11,346.31 49.65% 4.68% 8.80% 25.17% 39.79% $5,404.67 $5,229.12 28.96% 20.56% 11.77% 11.39%
Software (Entertainment) 13 1.23% $5,432.30 $6,225.62 12.74% 5.33% 6.06% 23.74% 26.29% $3,081.35 $3,083.32 112.32% 86.74% 20.55% 20.57%
Software (Internet) 305 1.21% $34,320.85 $51,130.70 32.88% 2.35% 3.21% 10.68% 14.14% $47,699.10 $47,137.15 24.35% 22.12% 24.60% 24.31%
Software (System & Application) 255 1.52% $179,790.67 $208,553.57 13.79% 11.46% 12.39% 46.06% 48.27% $42,715.94 $42,898.34 25.29% 21.58% 19.17% 19.25%
Steel 37 0.59% $20,786.36 $23,690.21 12.26% 25.53% 26.59% 43.62% 44.97% $6,161.97 $6,289.32 16.75% 15.76% 7.14% 7.29%
Telecom (Wireless) 18 7.74% $67,555.20 $103,060.22 34.45% 46.75% 54.54% 61.15% 68.26% $7,606.10 $7,395.44 7.80% 5.44% 9.02% 8.77%
Telecom. Equipment 104 0.98% $56,896.34 $68,650.90 17.12% 16.28% 17.17% 38.49% 40.02% $19,520.06 $19,685.70 21.53% 19.03% 18.21% 18.37%
Telecom. Services 66 2.76% $335,000.20 $397,869.57 15.80% 41.26% 44.30% 66.44% 69.15% $59,243.42 $57,700.84 20.64% 16.23% 18.05% 17.58%
Tobacco 24 0.77% $48,362.97 $52,468.94 7.83% 14.38% 14.63% 92.93% 93.06% $21,212.43 $21,291.25 133.10% 105.03% 40.45% 40.60%
Transportation 18 2.75% $43,036.32 $63,562.66 32.29% 17.17% 23.09% 60.07% 68.55% $13,608.76 $13,342.41 27.54% 17.63% 7.87% 7.72%
Transportation (Railroads) 8 3.22% $42,242.55 $48,055.03 12.10% 17.13% 18.48% 46.41% 48.70% $16,410.39 $16,334.80 14.54% 13.55% 34.49% 34.33%
Trucking 30 4.78% $20,680.79 $48,658.29 57.50% 38.99% 41.11% 68.02% 69.91% $4,469.07 $4,913.13 13.05% 7.07% 6.96% 7.65%
Utility (General) 18 0.42% $158,861.60 $174,271.93 8.84% 39.78% 40.21% 58.71% 59.13% $22,539.00 $22,408.54 6.66% 6.21% 19.50% 19.39%
Utility (Water) 23 0.66% $12,214.84 $13,309.95 8.23% 27.33% 27.61% 55.57% 55.92% $2,094.00 $2,091.59 7.53% 6.75% 28.34% 28.31%
Total Market 7247 1.45% $15,372,800.63 $17,304,005.82 11.16% 35.83% 37.11% 62.78% 64.06% $1,525,867.81 $1,511,786.92 7.53% 6.75% 10.66% 10.56%
Total Market (without financials) 6057 1.41% $6,120,218.60 $7,822,332.95 21.76% 21.55% 23.51% 49.72% 52.53% $1,451,901.73 $1,438,822.84 17.05% 13.88% 11.29% 11.19%