Betas by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2018

Download as an excel file instead: http://www.stern.nyu.edu/~adamodar/pc/datasets/betas.xls

For global datasets: http://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 Beta  D/E Ratio Effective Tax rate Unlevered beta Cash/Firm value Unlevered beta corrected for cash HiLo Risk Standard deviation of equity Standard deviation in operating income (last 10 years)
Advertising 40 1.15 73.87% 6.38% 0.74 5.80% 0.78 0.6310 80.95% 15.30%
Aerospace/Defense 87 1.08 18.46% 11.59% 0.95 4.33% 0.99 0.4893 49.06% 12.87%
Air Transport 17 1.01 71.00% 24.57% 0.66 2.67% 0.67 0.4148 40.20% 92.29%
Apparel 51 1.02 34.18% 10.35% 0.81 5.16% 0.85 0.4998 59.71% 22.55%
Auto & Truck 18 1.20 148.09% 8.15% 0.56 4.88% 0.59 0.6051 38.59% 209.62%
Auto Parts 62 1.04 28.30% 7.71% 0.85 7.19% 0.92 0.5423 56.74% 53.93%
Bank (Money Center) 11 0.64 157.26% 27.31% 0.29 9.94% 0.32 0.1462 33.37% NA
Banks (Regional) 612 0.50 58.68% 25.57% 0.35 10.04% 0.39 0.1809 32.08% NA
Beverage (Alcoholic) 28 1.33 26.14% 10.12% 1.11 1.20% 1.12 0.5387 50.14% 32.58%
Beverage (Soft) 35 0.70 23.06% 6.41% 0.60 4.46% 0.63 0.5850 45.33% 13.03%
Broadcasting 27 1.12 112.17% 17.18% 0.60 7.16% 0.65 0.4085 52.30% 20.47%
Brokerage & Investment Banking 42 1.24 219.92% 14.56% 0.46 14.84% 0.54 0.4586 42.48% 36.49%
Building Materials 39 1.11 21.46% 23.34% 0.95 3.30% 0.99 0.3135 41.01% 55.46%
Business & Consumer Services 169 1.17 27.44% 11.09% 0.97 3.94% 1.01 0.5442 49.45% 19.49%
Cable TV 14 0.92 53.05% 22.23% 0.66 1.67% 0.67 0.4154 36.33% 35.61%
Chemical (Basic) 38 1.20 41.28% 9.76% 0.91 5.52% 0.96 0.5297 59.39% 40.60%
Chemical (Diversified) 7 2.03 27.19% 11.66% 1.69 6.07% 1.79 0.3952 68.62% 36.93%
Chemical (Specialty) 99 1.11 29.00% 9.64% 0.91 3.71% 0.95 0.4598 59.69% 20.92%
Coal & Related Energy 30 1.25 45.41% 4.94% 0.93 10.94% 1.04 0.5930 90.61% 226.93%
Computer Services 111 1.10 30.83% 9.40% 0.89 5.49% 0.94 0.5432 48.53% 12.54%
Computers/Peripherals 58 1.01 18.17% 5.03% 0.89 4.44% 0.93 0.5296 61.38% 44.58%
Construction Supplies 49 1.12 32.47% 17.36% 0.90 5.64% 0.95 0.3347 45.67% 28.97%
Diversified 24 1.19 32.49% 12.09% 0.96 5.48% 1.01 0.4370 26.82% 22.28%
Drugs (Biotechnology) 459 1.44 15.83% 1.36% 1.29 5.27% 1.36 0.5569 94.78% 59.98%
Drugs (Pharmaceutical) 185 1.21 14.63% 2.11% 1.09 3.65% 1.13 0.5754 85.70% 9.32%
Education 34 1.15 38.83% 8.24% 0.89 7.06% 0.96 0.4730 53.59% 25.37%
Electrical Equipment 118 1.08 15.85% 5.06% 0.97 5.49% 1.02 0.6021 66.17% 15.61%
Electronics (Consumer & Office) 24 1.09 6.94% 5.98% 1.04 3.85% 1.08 0.5949 70.22% 257.32%
Electronics (General) 167 0.94 14.97% 8.34% 0.84 7.80% 0.91 0.5125 60.25% 28.33%
Engineering/Construction 49 1.27 29.72% 13.37% 1.04 8.14% 1.13 0.4130 53.02% 11.78%
Entertainment 90 1.15 33.74% 5.45% 0.92 4.23% 0.96 0.6323 54.94% 20.36%
Environmental & Waste Services 87 0.88 34.87% 4.45% 0.69 0.93% 0.70 0.6050 65.74% 12.70%
Farming/Agriculture 34 0.74 55.54% 7.69% 0.52 6.02% 0.56 0.4842 42.57% 25.17%
Financial Svcs. (Non-bank & Insurance) 264 0.61 1032.19% 19.89% 0.07 2.38% 0.07 0.2561 36.63% 53.82%
Food Processing 87 0.68 30.82% 15.13% 0.55 1.58% 0.56 0.4234 41.18% 25.40%
Food Wholesalers 15 1.79 37.46% 11.91% 1.39 1.76% 1.41 0.4729 55.42% 15.90%
Furn/Home Furnishings 31 0.79 27.86% 12.56% 0.65 3.22% 0.67 0.4142 51.26% 34.05%
Green & Renewable Energy 22 1.20 98.23% 2.41% 0.69 4.47% 0.72 0.6613 60.29% 93.85%
Healthcare Products 251 0.94 17.08% 4.79% 0.83 5.87% 0.89 0.5371 66.92% 10.87%
Healthcare Support Services 115 0.90 24.83% 13.69% 0.76 8.35% 0.82 0.4877 57.44% 24.22%
Heathcare Information and Technology 112 0.98 19.30% 5.96% 0.85 3.37% 0.88 0.5393 58.64% 30.64%
Homebuilding 32 1.11 39.65% 23.86% 0.85 4.82% 0.89 0.3080 44.70% 128.07%
Hospitals/Healthcare Facilities 35 1.18 176.51% 10.57% 0.50 1.75% 0.51 0.4592 60.63% 30.20%
Hotel/Gaming 70 0.94 39.91% 14.01% 0.72 3.22% 0.74 0.4199 45.51% 26.64%
Household Products 131 1.00 21.03% 7.35% 0.86 2.31% 0.88 0.6009 56.30% 6.39%
Information Services 61 0.88 15.71% 15.90% 0.79 4.07% 0.82 0.3503 41.35% 34.44%
Insurance (General) 21 0.78 38.50% 14.71% 0.61 3.99% 0.63 0.2871 37.21% 76.79%
Insurance (Life) 25 1.01 57.06% 15.32% 0.70 12.71% 0.81 0.2369 37.34% 36.74%
Insurance (Prop/Cas.) 50 0.84 26.43% 18.50% 0.70 4.06% 0.73 0.2254 34.65% 57.83%
Investments & Asset Management 165 0.99 42.08% 8.30% 0.75 13.70% 0.87 0.3629 41.00% 27.10%
Machinery 126 1.15 19.75% 14.05% 1.00 3.69% 1.04 0.4209 43.17% 20.89%
Metals & Mining 102 1.10 30.54% 1.66% 0.90 6.75% 0.96 0.6862 82.33% 40.51%
Office Equipment & Services 24 1.37 51.65% 18.37% 0.99 10.21% 1.10 0.4977 49.66% 18.32%
Oil/Gas (Integrated) 5 1.37 15.29% 10.96% 1.23 1.70% 1.25 0.3307 20.21% 61.70%
Oil/Gas (Production and Exploration) 311 1.26 41.91% 2.18% 0.95 4.89% 1.00 0.5978 78.88% 109.36%
Oil/Gas Distribution 16 1.21 93.43% 4.84% 0.71 1.53% 0.72 0.4481 62.79% 30.48%
Oilfield Svcs/Equip. 130 1.23 30.98% 5.27% 0.99 5.93% 1.06 0.5501 73.29% 42.07%
Packaging & Container 25 0.74 50.22% 22.37% 0.53 3.01% 0.55 0.2952 27.67% 17.89%
Paper/Forest Products 21 1.20 40.01% 14.18% 0.92 5.94% 0.98 0.4787 56.81% 34.50%
Power 61 0.50 76.36% 20.31% 0.32 1.75% 0.32 0.2477 31.23% 8.37%
Precious Metals 111 0.96 17.85% 2.16% 0.85 10.39% 0.95 0.6903 91.35% 72.71%
Publishing & Newspapers 41 1.02 44.49% 11.92% 0.76 7.84% 0.83 0.3562 54.14% 13.55%
R.E.I.T. 244 0.66 78.50% 1.96% 0.41 2.00% 0.42 0.1817 32.14% 30.62%
Real Estate (Development) 20 0.75 45.30% 5.80% 0.56 9.13% 0.61 0.6155 44.27% 136.76%
Real Estate (General/Diversified) 10 0.75 23.60% 12.77% 0.63 13.84% 0.73 0.4356 41.07% 204.05%
Real Estate (Operations & Services) 60 1.02 46.71% 8.82% 0.75 5.89% 0.80 0.5502 54.01% 42.66%
Recreation 70 0.85 29.59% 10.16% 0.69 4.48% 0.73 0.5329 50.85% 47.63%
Reinsurance 3 0.52 27.73% 10.92% 0.43 7.80% 0.47 0.2463 18.99% 52.13%
Restaurant/Dining 81 0.85 32.21% 14.99% 0.68 1.85% 0.70 0.4220 48.41% 18.74%
Retail (Automotive) 25 1.01 75.96% 19.04% 0.64 0.99% 0.65 0.4279 42.62% 35.82%
Retail (Building Supply) 8 0.86 17.86% 15.36% 0.75 1.21% 0.76 0.4310 53.44% 28.48%
Retail (Distributors) 92 1.15 45.58% 14.20% 0.85 2.07% 0.87 0.4930 49.24% 35.40%
Retail (General) 18 1.05 31.15% 22.96% 0.85 2.88% 0.87 0.3620 49.94% 6.34%
Retail (Grocery and Food) 14 0.71 83.68% 21.04% 0.43 1.61% 0.44 0.4397 45.73% 17.63%
Retail (Online) 61 1.18 11.41% 7.57% 1.09 3.21% 1.12 0.5386 60.64% 49.32%
Retail (Special Lines) 106 1.11 53.00% 22.01% 0.79 3.41% 0.82 0.4805 59.68% 22.09%
Rubber& Tires 4 0.95 77.99% 7.91% 0.60 6.12% 0.64 0.4488 56.24% 42.44%
Semiconductor 72 1.17 13.10% 8.04% 1.07 7.82% 1.16 0.3870 52.68% 30.35%
Semiconductor Equip 45 0.98 11.53% 8.51% 0.90 8.36% 0.99 0.4202 61.04% 52.85%
Shipbuilding & Marine 9 1.34 46.95% 8.31% 0.99 2.51% 1.01 0.5144 94.40% 29.81%
Shoe 11 0.88 9.65% 16.75% 0.82 4.64% 0.86 0.3897 44.39% 25.36%
Software (Entertainment) 13 0.89 6.45% 2.21% 0.85 6.76% 0.91 0.4776 49.61% 103.93%
Software (Internet) 305 1.20 3.32% 2.50% 1.17 2.12% 1.20 0.6170 65.60% 49.78%
Software (System & Application) 255 1.09 14.14% 3.98% 0.98 3.75% 1.02 0.5575 53.27% 13.17%
Steel 37 1.82 36.23% 7.05% 1.42 7.06% 1.53 0.4324 70.40% 73.59%
Telecom (Wireless) 18 1.30 119.97% 7.95% 0.68 3.88% 0.71 0.6051 54.46% 38.36%
Telecom. Equipment 104 1.03 20.73% 8.12% 0.89 6.81% 0.96 0.4608 57.87% 20.11%
Telecom. Services 66 1.08 79.53% 8.05% 0.68 6.13% 0.72 0.6037 52.57% 34.87%
Tobacco 24 1.26 17.14% 5.25% 1.12 3.05% 1.15 0.6586 45.16% 13.92%
Transportation 18 0.95 30.02% 21.92% 0.77 3.00% 0.80 0.3657 46.36% 25.07%
Transportation (Railroads) 8 1.01 22.66% 23.82% 0.86 1.28% 0.87 0.3136 29.77% 24.46%
Trucking 30 1.20 69.80% 20.56% 0.78 2.99% 0.81 0.4038 54.25% 34.40%
Utility (General) 18 0.29 67.24% 30.89% 0.19 0.58% 0.20 0.1233 20.67% 7.02%
Utility (Water) 23 0.34 38.14% 15.09% 0.27 0.74% 0.27 0.3992 53.52% 24.03%
Total Market 7247 1.00 59.01% 10.04% 0.69 4.73% 0.72 0.4635 53.52% 15.92%
Total Market (without financials) 6057 1.07 30.74% 7.92% 0.87 3.95% 0.90 0.5079 57.16% 15.06%


Last Updated in January 2018
By Aswath Damodaran