Margins 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/margin.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 Gross Margin Net Margin Pre-tax, Pre-stock compensation Operating Margin Pre-tax Unadjusted Operating Margin After-tax Unadjusted Operating Margin Pre-tax Lease adjusted Margin After-tax Lease Adjusted Margin Pre-tax Lease & R&D adj Margin After-tax Lease & R&D adj Margin EBITDA/Sales EBITDASG&A/Sales EBITDAR&D/Sales COGS/Sales R&D/Sales SG&A/ Sales Stock-Based Compensation/Sales Lease Expense/Sales
Advertising 49 26.20% 3.10% 12.28% 10.62% 10.00% 10.91% 10.28% 11.07% 10.45% 12.24% 22.78% 13.10% 73.80% 0.86% 10.54% 1.67% 4.08%
Aerospace/Defense 73 16.87% 3.41% 9.04% 7.81% 7.28% 7.86% 7.33% 7.97% 7.44% 9.28% 16.45% 13.63% 83.13% 4.35% 7.17% 1.23% 0.80%
Air Transport 21 1.41% -7.66% -22.54% -23.14% -21.90% -23.78% -22.52% -23.68% -22.41% -28.57% -25.43% -28.18% 98.59% 0.39% 3.14% 0.59% 12.69%
Apparel 39 53.04% 7.06% 12.78% 11.96% 10.52% 12.70% 11.17% 12.70% 11.16% 8.31% 49.17% 8.45% 46.96% 0.14% 40.86% 0.82% 5.48%
Auto & Truck 26 14.25% 3.96% 6.31% 5.26% 5.05% 5.30% 5.10% 5.89% 5.69% 6.76% 14.18% 12.37% 85.75% 5.61% 7.42% 1.05% 0.41%
Auto Parts 38 15.58% 1.34% 6.89% 6.40% 5.53% 6.53% 5.64% 6.94% 6.05% 7.50% 14.78% 10.81% 84.42% 3.30% 7.27% 0.49% 0.75%
Bank (Money Center) 7 100.00% 32.61% 2.31% 0.00% 0.00% -0.04% -0.03% -0.04% -0.03% 0.00% 53.28% 0.00% 0.00% 0.00% 53.28% 2.31% 2.45%
Banks (Regional) 563 99.83% 31.31% 1.30% 0.00% 0.00% -0.27% -0.22% -0.27% -0.22% 0.00% 47.57% 0.00% 0.17% 0.00% 47.57% 1.30% 2.30%
Beverage (Alcoholic) 21 47.99% 5.07% 23.63% 23.03% 21.20% 23.01% 21.19% 23.01% 21.19% 27.27% 52.21% 27.27% 52.01% 0.00% 24.94% 0.60% 1.77%
Beverage (Soft) 32 55.27% 14.47% 21.28% 20.67% 19.73% 20.74% 19.80% 20.74% 19.80% 21.49% 55.45% 22.05% 44.73% 0.56% 33.96% 0.61% 0.87%
Broadcasting 28 45.22% 10.40% 19.37% 18.32% 16.20% 18.13% 16.04% 18.13% 16.04% 24.68% 45.79% 24.69% 54.78% 0.01% 21.11% 1.05% 1.03%
Brokerage & Investment Banking 31 69.46% 20.34% 4.74% 1.31% 1.12% 1.01% 0.86% 1.37% 1.22% 0.94% 36.37% 1.42% 30.54% 0.48% 35.43% 3.43% 2.04%
Building Materials 44 28.32% 8.40% 12.29% 11.63% 9.65% 11.76% 9.76% 11.82% 9.81% 11.44% 27.09% 12.42% 71.68% 0.98% 15.65% 0.66% 1.00%
Business & Consumer Services 160 31.80% 4.97% 10.32% 9.12% 8.19% 9.17% 8.24% 9.41% 8.48% 12.27% 30.65% 13.05% 68.20% 0.77% 18.38% 1.20% 1.56%
Cable TV 11 57.39% 11.24% 20.32% 19.23% 15.75% 19.21% 15.73% 19.21% 15.73% 29.18% 53.27% 29.32% 42.61% 0.14% 24.09% 1.09% 0.96%
Chemical (Basic) 35 20.38% 11.43% 15.37% 14.93% 13.44% 15.01% 13.51% 15.14% 13.64% 9.98% 14.16% 10.99% 79.62% 1.01% 4.18% 0.43% 1.51%
Chemical (Diversified) 4 21.05% 8.09% 10.16% 9.72% 9.34% 9.66% 9.29% 9.84% 9.47% 9.52% 19.64% 11.27% 78.95% 1.75% 10.12% 0.44% 1.33%
Chemical (Specialty) 81 34.25% 11.53% 14.02% 13.33% 11.98% 13.52% 12.15% 13.67% 12.30% 17.16% 33.28% 19.66% 65.75% 2.50% 16.12% 0.69% 1.42%
Coal & Related Energy 18 18.54% -5.14% -2.38% -3.21% -3.19% -2.80% -2.78% -2.68% -2.66% 5.97% 11.77% 6.24% 81.46% 0.27% 5.80% 0.83% 1.77%
Computer Services 83 27.24% 3.42% 7.30% 6.48% 5.95% 6.84% 6.28% 6.92% 6.36% 10.33% 27.45% 13.02% 72.76% 2.69% 17.12% 0.82% 1.75%
Computers/Peripherals 46 36.88% 18.72% 22.66% 20.78% 19.75% 20.73% 19.70% 21.27% 20.24% 23.95% 34.03% 29.94% 63.12% 5.99% 10.09% 1.87% 2.67%
Construction Supplies 48 22.73% 7.92% 11.65% 11.03% 9.60% 11.04% 9.60% 11.31% 9.87% 12.89% 21.77% 15.61% 77.27% 2.72% 8.87% 0.62% 0.74%
Diversified 22 36.91% 22.58% 30.35% 30.12% 27.94% 30.23% 28.04% 30.03% 27.85% 23.60% 29.24% 25.30% 63.09% 1.70% 5.63% 0.23% 0.89%
Drugs (Biotechnology) 581 62.25% -0.62% 18.96% 12.37% 12.30% 12.12% 12.06% 15.73% 15.66% 17.05% 45.57% 56.67% 37.75% 39.62% 28.52% 6.59% 1.27%
Drugs (Pharmaceutical) 298 67.35% 11.03% 26.41% 24.71% 24.17% 24.70% 24.16% 29.16% 28.62% 27.56% 49.85% 50.65% 32.65% 23.08% 22.29% 1.70% 0.73%
Education 35 47.90% 7.17% 9.17% 5.92% 5.47% 5.41% 4.99% 6.50% 6.09% 10.49% 45.82% 14.93% 52.10% 4.44% 35.33% 3.24% 3.69%
Electrical Equipment 104 33.53% 7.26% 13.09% 11.40% 10.83% 11.60% 11.03% 12.00% 11.42% 14.89% 34.54% 18.13% 66.47% 3.24% 19.65% 1.69% 1.09%
Electronics (Consumer & Office) 16 32.41% 7.08% 8.02% 4.80% 4.57% 4.98% 4.73% 5.59% 5.35% 6.63% 27.54% 13.50% 67.59% 6.87% 20.91% 3.22% 0.72%
Electronics (General) 137 28.40% 7.02% 11.82% 10.37% 9.68% 10.40% 9.71% 10.62% 9.93% 12.83% 25.46% 18.01% 71.60% 5.18% 12.63% 1.45% 0.87%
Engineering/Construction 48 13.45% 1.81% 5.20% 4.70% 4.06% 4.95% 4.28% 4.95% 4.28% 6.89% 14.66% 6.91% 86.55% 0.02% 7.76% 0.50% 2.77%
Entertainment 108 41.94% 3.86% 11.15% 8.67% 8.44% 8.04% 7.83% 8.75% 8.54% 11.67% 34.57% 16.74% 58.06% 5.07% 22.90% 2.47% 2.46%
Environmental & Waste Services 58 33.64% 6.72% 13.61% 12.94% 12.17% 13.11% 12.34% 13.11% 12.34% 18.86% 32.25% 18.87% 66.36% 0.02% 13.40% 0.67% 2.00%
Farming/Agriculture 36 13.61% 6.03% 7.74% 7.50% 6.93% 7.62% 7.03% 7.65% 7.06% 7.94% 12.99% 9.11% 86.39% 1.16% 5.05% 0.24% 0.83%
Financial Svcs. (Non-bank & Insurance) 223 85.08% 32.33% 15.75% 14.06% 11.87% 13.95% 11.78% 14.20% 12.02% 11.54% 40.69% 12.26% 14.92% 0.73% 29.16% 1.69% 0.92%
Food Processing 92 27.00% 8.44% 13.96% 13.47% 12.05% 13.60% 12.17% 13.61% 12.18% 16.47% 29.55% 17.08% 73.00% 0.61% 13.08% 0.49% 2.15%
Food Wholesalers 15 14.85% 0.69% 2.09% 1.93% 1.77% 1.86% 1.70% 1.86% 1.70% 2.75% 15.34% 2.75% 85.15% 0.00% 12.59% 0.15% 0.45%
Furn/Home Furnishings 32 29.74% 7.64% 11.88% 10.95% 9.66% 11.04% 9.75% 11.10% 9.80% 11.01% 28.97% 12.42% 70.26% 1.41% 17.97% 0.93% 1.51%
Green & Renewable Energy 20 62.92% -19.78% 24.77% 23.66% 23.32% 23.43% 23.09% 23.40% 23.07% 55.09% 66.78% 55.19% 37.08% 0.10% 11.69% 1.11% 0.26%
Healthcare Products 244 59.04% 12.92% 19.97% 17.69% 16.95% 17.90% 17.16% 18.71% 17.97% 20.33% 51.50% 28.33% 40.96% 8.01% 31.17% 2.29% 0.94%
Healthcare Support Services 131 14.83% 2.42% 4.54% 4.27% 3.94% 4.16% 3.84% 4.17% 3.85% 5.27% 15.02% 5.31% 85.17% 0.04% 9.75% 0.28% 0.48%
Heathcare Information and Technology 142 52.49% 16.64% 21.41% 18.09% 17.44% 18.14% 17.49% 19.50% 18.85% 18.66% 44.32% 25.65% 47.51% 6.99% 25.66% 3.32% 1.12%
Homebuilding 29 24.87% 12.73% 16.59% 16.28% 13.25% 16.29% 13.26% 16.29% 13.26% 14.64% 23.63% 14.64% 75.13% 0.00% 8.99% 0.31% 0.24%
Hospitals/Healthcare Facilities 31 36.78% 7.23% 13.48% 12.85% 11.70% 12.45% 11.33% 12.45% 11.33% 13.93% 17.50% 13.93% 63.22% 0.00% 3.57% 0.63% 2.53%
Hotel/Gaming 66 55.45% -28.56% -1.70% -9.11% -8.56% -14.03% -13.18% -12.73% -11.88% -9.07% 31.24% -4.30% 44.55% 4.77% 40.31% 7.41% 3.55%
Household Products 118 50.13% 12.45% 19.34% 18.41% 17.33% 18.48% 17.39% 18.53% 17.45% 21.99% 53.20% 23.79% 49.87% 1.80% 31.21% 0.93% 1.33%
Information Services 79 53.83% 16.92% 26.62% 23.78% 21.11% 23.92% 21.24% 24.31% 21.63% 27.44% 52.01% 30.62% 46.17% 3.18% 24.57% 2.84% 1.26%
Insurance (General) 23 34.52% 12.64% 17.84% 16.96% 15.02% 16.98% 15.04% 16.97% 15.03% 15.94% 28.47% 16.01% 65.48% 0.07% 12.53% 0.88% 0.93%
Insurance (Life) 24 30.89% 8.87% 12.46% 12.06% 10.34% 12.09% 10.37% 12.09% 10.37% 8.50% 19.95% 8.50% 69.11% 0.00% 11.45% 0.40% 0.34%
Insurance (Prop/Cas.) 52 32.84% 10.30% 16.06% 15.70% 13.60% 15.76% 13.65% 15.76% 13.65% 13.01% 24.09% 13.01% 67.16% 0.00% 11.07% 0.35% 0.46%
Investments & Asset Management 687 69.47% 25.18% 19.53% 16.23% 16.00% 16.09% 15.87% 16.16% 15.93% 12.82% 38.79% 13.27% 30.53% 0.44% 25.97% 3.30% 1.03%
Machinery 111 35.42% 10.79% 15.56% 14.67% 13.12% 14.85% 13.28% 14.93% 13.36% 15.99% 34.95% 18.00% 64.58% 2.02% 18.96% 0.89% 0.96%
Metals & Mining 74 36.60% 11.92% 27.02% 26.47% 25.92% 26.37% 25.83% 26.38% 25.83% 17.22% 20.78% 17.41% 63.40% 0.19% 3.56% 0.55% 0.75%
Office Equipment & Services 18 33.40% 2.55% 6.60% 5.86% 5.34% 6.01% 5.47% 6.08% 5.54% 9.89% 35.52% 11.86% 66.60% 1.97% 25.64% 0.74% 1.87%
Oil/Gas (Integrated) 4 37.48% 0.92% 7.46% 7.19% 5.80% 7.44% 6.00% 7.42% 5.98% 9.13% 18.21% 9.49% 62.52% 0.36% 9.08% 0.27% 0.96%
Oil/Gas (Production and Exploration) 183 58.81% 2.79% -1.62% -2.57% -2.52% -2.45% -2.40% -2.45% -2.40% 22.23% 28.79% 22.28% 41.19% 0.05% 6.56% 0.95% 2.74%
Oil/Gas Distribution 21 36.02% 5.19% 17.08% 16.48% 14.87% 16.57% 14.95% 16.57% 14.95% 29.69% 35.17% 29.69% 63.98% 0.00% 5.48% 0.60% 0.68%
Oilfield Svcs/Equip. 100 7.92% 1.55% 1.54% 1.18% 1.13% 1.35% 1.30% 1.32% 1.27% 2.24% 6.52% 2.64% 92.08% 0.40% 4.28% 0.36% 1.39%
Packaging & Container 26 21.98% 5.75% 10.21% 9.73% 8.06% 9.89% 8.20% 9.92% 8.23% 14.51% 24.11% 14.98% 78.02% 0.47% 9.60% 0.49% 1.03%
Paper/Forest Products 11 30.45% 12.23% 19.08% 18.64% 16.40% 18.78% 16.53% 18.81% 16.56% 12.80% 22.71% 13.00% 69.55% 0.20% 9.91% 0.44% 0.71%
Power 50 41.49% 9.06% 19.13% 18.77% 15.84% 18.69% 15.77% 18.70% 15.78% 33.63% 36.20% 33.71% 58.51% 0.08% 2.57% 0.35% 1.62%
Precious Metals 76 52.43% 14.48% 28.63% 27.58% 26.72% 27.58% 26.72% 27.65% 26.79% 41.93% 48.04% 42.84% 47.57% 0.92% 6.12% 1.05% 2.56%
Publishing & Newspapers 21 42.65% 3.55% 8.66% 7.79% 6.88% 7.68% 6.79% 7.80% 6.90% 10.67% 38.97% 11.54% 57.35% 0.87% 28.30% 0.87% 2.01%
R.E.I.T. 238 63.64% 21.77% 25.64% 23.88% 23.42% 20.40% 20.00% 20.40% 20.00% 41.28% 51.28% 41.29% 36.36% 0.01% 10.00% 1.75% 2.84%
Real Estate (Development) 19 28.92% -0.97% 8.34% 7.44% 7.24% 5.16% 5.03% 5.16% 5.03% 10.52% 19.90% 10.52% 71.08% 0.00% 9.38% 0.90% 0.57%
Real Estate (General/Diversified) 10 47.80% 14.98% 18.19% 15.46% 13.92% 15.33% 13.81% 15.33% 13.81% 11.35% 46.04% 11.35% 52.20% 0.00% 34.69% 2.73% 3.44%
Real Estate (Operations & Services) 51 41.67% -3.17% 3.24% 0.29% 0.27% -2.69% -2.51% -2.25% -2.08% 2.77% 39.84% 4.31% 58.33% 1.54% 37.07% 2.95% 5.41%
Recreation 60 39.32% 4.78% 13.18% 11.34% 10.46% 10.23% 9.44% 10.74% 9.95% 10.45% 33.86% 13.30% 60.68% 2.85% 23.41% 1.84% 1.91%
Reinsurance 2 22.41% 4.61% 7.55% 7.34% 5.66% 7.29% 5.61% 7.29% 5.61% 4.81% 5.01% 4.81% 77.59% 0.00% 0.20% 0.21% 0.16%
Restaurant/Dining 70 31.52% 12.63% 17.49% 16.43% 15.27% 12.29% 11.42% 12.29% 11.42% 17.49% 27.05% 17.50% 68.48% 0.00% 9.55% 1.06% 5.95%
Retail (Automotive) 32 22.20% 4.81% 7.34% 7.03% 6.04% 6.28% 5.39% 6.29% 5.39% 6.21% 20.56% 6.22% 77.80% 0.00% 14.35% 0.30% 1.38%
Retail (Building Supply) 16 34.75% 9.63% 14.72% 14.40% 12.17% 14.21% 12.01% 14.22% 12.01% 14.33% 33.12% 14.35% 65.25% 0.02% 18.80% 0.32% 1.42%
Retail (Distributors) 68 30.34% 5.40% 10.01% 9.62% 8.49% 9.82% 8.67% 9.82% 8.67% 9.11% 28.13% 9.12% 69.66% 0.00% 19.01% 0.39% 1.54%
Retail (General) 16 24.32% 2.65% 5.79% 5.54% 4.52% 5.13% 4.19% 5.13% 4.19% 6.38% 24.82% 6.38% 75.68% 0.00% 18.44% 0.25% 0.93%
Retail (Grocery and Food) 15 25.68% 1.11% 2.69% 2.53% 2.19% 1.83% 1.58% 1.83% 1.58% 5.11% 26.18% 5.12% 74.32% 0.00% 21.07% 0.16% 0.99%
Retail (Online) 60 41.54% 7.26% 8.67% 5.99% 5.71% 5.49% 5.23% 7.15% 6.89% 10.01% 35.39% 20.09% 58.46% 10.09% 25.39% 2.68% 1.32%
Retail (Special Lines) 76 30.90% 4.53% 7.30% 6.86% 5.85% 6.77% 5.78% 6.77% 5.77% 4.71% 28.38% 4.81% 69.10% 0.09% 23.66% 0.44% 4.86%
Rubber& Tires 2 22.07% 1.71% 5.59% 5.40% 4.46% 5.72% 4.72% 5.62% 4.62% 3.24% 19.68% 5.67% 77.93% 2.43% 16.44% 0.19% 1.77%
Semiconductor 67 55.24% 25.72% 31.27% 27.42% 25.55% 27.43% 25.57% 29.08% 27.21% 35.92% 44.24% 53.32% 44.76% 17.40% 8.32% 3.85% 0.57%
Semiconductor Equip 34 45.01% 22.60% 28.49% 26.98% 24.50% 27.10% 24.61% 27.92% 25.43% 27.77% 36.20% 37.15% 54.99% 9.38% 8.43% 1.51% 0.89%
Shipbuilding & Marine 8 30.68% 7.89% 17.92% 17.26% 16.71% 17.67% 17.11% 17.67% 17.11% 12.55% 20.51% 12.55% 69.32% 0.00% 7.96% 0.66% 2.70%
Shoe 12 46.89% 12.57% 16.84% 15.56% 14.03% 15.37% 13.86% 15.37% 13.86% 15.09% 46.27% 15.18% 53.11% 0.09% 31.19% 1.28% 2.35%
Software (Entertainment) 88 64.45% 29.04% 38.17% 31.12% 30.43% 30.69% 30.01% 32.59% 31.91% 24.77% 42.72% 39.92% 35.55% 15.15% 17.94% 7.05% 1.36%
Software (Internet) 36 61.00% -10.36% 12.36% -2.28% -2.25% -2.34% -2.31% 2.14% 2.17% 10.99% 53.68% 29.97% 39.00% 18.98% 42.70% 14.64% 3.64%
Software (System & Application) 375 71.59% 19.66% 31.77% 24.02% 23.21% 24.02% 23.21% 25.94% 25.13% 28.98% 59.11% 45.68% 28.41% 16.70% 30.13% 7.74% 1.71%
Steel 28 23.61% 10.96% 16.48% 16.13% 13.98% 16.18% 14.03% 16.18% 14.02% 5.71% 11.98% 5.75% 76.39% 0.03% 6.26% 0.35% 0.39%
Telecom (Wireless) 17 56.66% 4.82% 12.41% 11.70% 11.32% 9.84% 9.52% 9.93% 9.61% 28.52% 53.02% 28.80% 43.34% 0.27% 24.50% 0.71% 5.75%
Telecom. Equipment 82 55.66% 14.96% 22.85% 19.56% 18.52% 19.80% 18.75% 20.40% 19.35% 23.37% 44.88% 36.64% 44.34% 13.27% 21.51% 3.29% 1.43%
Telecom. Services 42 55.33% 7.80% 21.45% 20.94% 19.72% 20.75% 19.53% 20.76% 19.54% 32.60% 52.38% 33.04% 44.67% 0.44% 19.78% 0.51% 3.43%
Tobacco 16 62.87% 20.58% 44.71% 44.25% 40.61% 44.38% 40.73% 44.37% 40.72% 43.32% 61.77% 44.41% 37.13% 1.09% 18.45% 0.46% 0.71%
Transportation 17 21.25% 5.97% 8.84% 8.25% 7.06% 8.11% 6.94% 8.11% 6.94% 8.22% 9.21% 8.22% 78.75% 0.01% 0.99% 0.59% 3.44%
Transportation (Railroads) 4 55.98% 28.90% 42.40% 41.95% 34.67% 41.56% 34.36% 41.56% 34.36% 46.63% 46.63% 46.63% 44.02% 0.00% 0.00% 0.45% 1.52%
Trucking 34 25.08% 1.85% 7.02% 5.17% 4.34% 5.36% 4.50% 5.25% 4.39% 4.36% 17.08% 7.06% 74.92% 2.70% 12.72% 1.84% 7.33%
Utility (General) 16 40.06% 10.37% 19.61% 19.23% 17.35% 18.96% 17.11% 18.96% 17.11% 33.39% 32.91% 33.41% 59.94% 0.02% -0.48% 0.38% 0.66%
Utility (Water) 14 55.20% 18.77% 30.98% 30.15% 27.14% 29.94% 26.94% 29.94% 26.94% 42.58% 45.89% 42.58% 44.80% 0.00% 3.31% 0.83% 1.29%
Total Market 7229 38.44% 9.84% 13.20% 11.79% 10.96% 11.61% 10.79% 12.00% 11.18% 13.80% 30.53% 17.13% 61.56% 3.33% 16.73% 1.41% 1.60%
Total Market (without financials) 5619 34.58% 8.19% 13.56% 12.19% 11.46% 12.00% 11.28% 12.42% 11.70% 14.64% 29.60% 18.36% 65.42% 3.71% 14.96% 1.37% 1.62%

 

Last Updated in January 2022
By Aswath Damodaran