Margin/ ROIC by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2024

Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/mgnroc.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 After-tax Operating Margin Sales/ Invested Capital (LTM) Return on Capital
Advertising 57 9.60% 3.28 31.52%
Aerospace/Defense 70 8.15% 1.98 16.17%
Air Transport 25 6.15% 1.78 10.92%
Apparel 38 8.63% 1.77 15.29%
Auto & Truck 34 4.95% 1.05 5.19%
Auto Parts 39 5.07% 2.00 10.16%
Bank (Money Center) 15 0.07% 0.27 0.02%
Banks (Regional) 625 -0.15% 0.37 -0.05%
Beverage (Alcoholic) 19 18.59% 0.90 16.67%
Beverage (Soft) 29 18.10% 1.69 30.65%
Broadcasting 22 10.81% 1.12 12.06%
Brokerage & Investment Banking 27 0.47% 0.28 0.13%
Building Materials 44 11.04% 2.29 25.27%
Business & Consumer Services 162 10.09% 2.72 27.45%
Cable TV 10 14.56% 0.78 11.31%
Chemical (Basic) 32 7.30% 1.62 11.81%
Chemical (Diversified) 4 1.23% 1.28 1.57%
Chemical (Specialty) 68 11.67% 1.16 13.51%
Coal & Related Energy 18 20.01% 1.47 29.50%
Computer Services 72 6.74% 3.59 24.17%
Computers/Peripherals 36 19.66% 1.92 37.80%
Construction Supplies 45 13.14% 1.53 20.16%
Diversified 23 21.86% 0.93 20.40%
Drugs (Biotechnology) 572 3.82% 0.41 1.56%
Drugs (Pharmaceutical) 245 20.80% 0.64 13.38%
Education 31 4.60% 1.29 5.93%
Electrical Equipment 103 9.05% 1.47 13.27%
Electronics (Consumer & Office) 13 0.57% 1.67 0.95%
Electronics (General) 129 9.01% 1.68 15.11%
Engineering/Construction 43 4.04% 3.11 12.58%
Entertainment 98 6.83% 1.11 7.56%
Environmental & Waste Services 57 13.07% 2.29 29.94%
Farming/Agriculture 42 9.79% 1.83 17.93%
Financial Svcs. (Non-bank & Insurance) 172 13.57% 0.06 0.88%
Food Processing 82 10.02% 1.72 17.23%
Food Wholesalers 14 1.87% 8.02 14.96%
Furn/Home Furnishings 31 5.26% 1.96 10.31%
Green & Renewable Energy 17 20.82% 0.20 4.15%
Healthcare Products 230 13.19% 0.99 13.08%
Healthcare Support Services 119 3.55% 12.88 45.74%
Heathcare Information and Technology 128 13.71% 1.04 14.28%
Homebuilding 32 13.50% 1.55 20.91%
Hospitals/Healthcare Facilities 32 10.76% 1.87 20.16%
Hotel/Gaming 68 12.38% 0.81 9.99%
Household Products 93 15.63% 1.99 31.17%
Information Services 18 10.41% 2.19 22.74%
Insurance (General) 21 13.18% 1.19 15.65%
Insurance (Life) 23 0.12% 0.94 0.11%
Insurance (Prop/Cas.) 50 6.56% 1.69 11.12%
Investments & Asset Management 334 13.00% 0.47 6.16%
Machinery 103 13.31% 1.87 24.91%
Metals & Mining 68 19.17% 1.25 24.03%
Office Equipment & Services 17 6.24% 2.07 12.93%
Oil/Gas (Integrated) 4 12.44% 1.37 17.04%
Oil/Gas (Production and Exploration) 166 35.57% 0.80 28.41%
Oil/Gas Distribution 24 34.68% 0.59 20.60%
Oilfield Svcs/Equip. 100 7.89% 3.55 28.02%
Packaging & Container 22 8.17% 1.74 14.21%
Paper/Forest Products 7 8.84% 2.14 18.90%
Power 50 14.06% 0.41 5.78%
Precious Metals 61 9.29% 0.51 4.69%
Publishing & Newspapers 21 6.92% 2.00 13.86%
R.E.I.T. 193 21.34% 0.14 2.98%
Real Estate (Development) 17 11.00% 0.27 2.93%
Real Estate (General/Diversified) 11 14.26% 0.37 5.31%
Real Estate (Operations & Services) 60 0.05% 1.45 0.07%
Recreation 55 7.43% 1.28 9.54%
Reinsurance 1 7.44% 4.05 30.12%
Restaurant/Dining 64 12.07% 1.62 19.56%
Retail (Automotive) 30 4.94% 2.67 13.20%
Retail (Building Supply) 16 10.83% 3.64 39.43%
Retail (Distributors) 62 10.25% 1.82 18.61%
Retail (General) 26 4.10% 2.41 9.89%
Retail (Grocery and Food) 14 2.31% 4.76 10.99%
Retail (REITs) 28 34.12% 0.13 4.46%
Retail (Special Lines) 105 4.34% 3.11 13.50%
Rubber& Tires 3 2.16% 1.45 3.12%
Semiconductor 63 19.58% 0.58 11.37%
Semiconductor Equip 30 22.05% 1.16 25.68%
Shipbuilding & Marine 8 11.14% 0.83 9.24%
Shoe 13 10.80% 2.23 24.04%
Software (Entertainment) 84 26.81% 0.74 19.94%
Software (Internet) 35 -0.76% 0.64 -0.48%
Software (System & Application) 351 25.23% 0.92 23.22%
Steel 29 10.24% 2.17 22.18%
Telecom (Wireless) 13 13.52% 0.48 6.55%
Telecom. Equipment 66 19.48% 1.45 28.18%
Telecom. Services 42 19.60% 0.60 11.80%
Tobacco 16 36.92% 2.18 80.36%
Transportation 36 7.48% 2.07 15.48%
Transportation (Railroads) 4 28.91% 0.49 14.26%
Trucking 22 6.92% 1.84 12.75%
Utility (General) 14 18.60% 0.35 6.47%
Utility (Water) 13 27.28% 0.25 6.80%
Total Market 6481 10.68% 0.79 8.41%
Total Market (without financials) 5214 11.42% 1.28 14.67%


Last Updated in January 2024
By Aswath Damodaran