Return on Equity by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2023

Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/roe.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 ROE (unadjusted) ROE (adjusted for R&D)
Advertising 58 13.57% 11.60%
Aerospace/Defense 77 9.87% 7.81%
Air Transport 21 -11.37% -10.35%
Apparel 39 13.52% 13.41%
Auto & Truck 31 15.68% 11.37%
Auto Parts 37 7.03% 6.20%
Bank (Money Center) 7 11.35% 11.35%
Banks (Regional) 557 11.80% 11.80%
Beverage (Alcoholic) 23 5.28% 5.28%
Beverage (Soft) 31 31.94% 30.90%
Broadcasting 26 20.76% 20.75%
Brokerage & Investment Banking 30 13.43% 13.21%
Building Materials 45 32.73% 30.24%
Business & Consumer Services 164 12.85% 12.43%
Cable TV 10 12.14% 12.08%
Chemical (Basic) 38 34.78% 32.17%
Chemical (Diversified) 4 43.44% 37.94%
Chemical (Specialty) 76 11.43% 10.82%
Coal & Related Energy 19 74.08% 72.37%
Computer Services 80 12.15% 9.33%
Computers/Peripherals 42 96.26% 50.32%
Construction Supplies 49 18.78% 16.46%
Diversified 23 0.82% 0.83%
Drugs (Biotechnology) 598 0.68% 1.45%
Drugs (Pharmaceutical) 281 24.54% 13.69%
Education 33 3.19% 3.43%
Electrical Equipment 110 13.20% 12.02%
Electronics (Consumer & Office) 16 1.28% 1.49%
Electronics (General) 138 12.42% 10.13%
Engineering/Construction 43 7.50% 7.49%
Entertainment 110 1.18% 1.58%
Environmental & Waste Services 62 16.47% 16.46%
Farming/Agriculture 39 23.65% 21.35%
Financial Svcs. (Non-bank & Insurance) 223 48.08% 46.20%
Food Processing 92 11.54% 11.23%
Food Wholesalers 14 18.98% 18.98%
Furn/Home Furnishings 32 5.45% 5.01%
Green & Renewable Energy 19 18.27% 18.14%
Healthcare Products 254 7.09% 6.34%
Healthcare Support Services 131 12.34% 12.23%
Heathcare Information and Technology 138 -0.29% 0.20%
Homebuilding 32 30.75% 30.75%
Hospitals/Healthcare Facilities 34 49.04% 49.02%
Hotel/Gaming 69 2.53% 1.63%
Household Products 127 33.18% 28.82%
Information Services 73 17.74% 16.43%
Insurance (General) 21 17.43% 17.39%
Insurance (Life) 27 5.58% 5.58%
Insurance (Prop/Cas.) 51 5.71% 5.71%
Investments & Asset Management 600 17.17% 16.99%
Machinery 116 15.49% 14.16%
Metals & Mining 68 21.10% 20.88%
Office Equipment & Services 16 7.96% 6.94%
Oil/Gas (Integrated) 4 32.42% 32.02%
Oil/Gas (Production and Exploration) 174 47.00% 46.93%
Oil/Gas Distribution 23 4.09% 4.10%
Oilfield Svcs/Equip. 101 30.82% 29.74%
Packaging & Container 25 19.75% 18.96%
Paper/Forest Products 7 46.83% 46.72%
Power 48 9.39% 9.38%
Precious Metals 74 3.66% 3.80%
Publishing & Newspapers 20 5.15% 5.05%
R.E.I.T. 223 8.85% 8.85%
Real Estate (Development) 18 10.51% 10.51%
Real Estate (General/Diversified) 12 6.68% 6.68%
Real Estate (Operations & Services) 60 -3.58% -2.19%
Recreation 57 3.95% 3.66%
Reinsurance 1 4.46% 4.46%
Restaurant/Dining 70 NA NA
Retail (Automotive) 30 43.25% 43.21%
Retail (Building Supply) 15 0.48% 0.48%
Retail (Distributors) 69 27.37% 27.32%
Retail (General) 15 18.29% 18.29%
Retail (Grocery and Food) 13 27.98% 27.96%
Retail (Online) 63 2.54% 4.58%
Retail (Special Lines) 78 24.16% 23.82%
Rubber& Tires 3 19.81% 15.55%
Semiconductor 68 22.77% 16.46%
Semiconductor Equip 30 46.52% 31.17%
Shipbuilding & Marine 8 35.29% 35.29%
Shoe 13 36.28% 35.96%
Software (Entertainment) 91 22.77% 17.42%
Software (Internet) 33 -15.73% -8.79%
Software (System & Application) 390 19.68% 13.63%
Steel 28 53.75% 53.59%
Telecom (Wireless) 16 2.97% 2.85%
Telecom. Equipment 79 20.13% 13.04%
Telecom. Services 49 15.76% 15.51%
Tobacco 15 NA NA
Transportation 18 36.78% 36.73%
Transportation (Railroads) 4 33.56% 33.56%
Trucking 35 4.05% 4.18%
Utility (General) 15 11.24% 11.22%
Utility (Water) 16 13.19% 13.19%
Total Market 7165 16.47% 14.54%
Total Market (without financials) 5649 17.27% 14.69%

Last updated January 2023
By Aswath Damodaran