Debt Fundamentals 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/dbtfund.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 Book Debt to Capital Market Debt to Capital (Unadjusted) Market D/E (unadjusted) Market Debt to Capital (adjusted for leases) Market D/E (adjusted for leases) Effective tax rate Institutional Holdings Std dev in Stock Prices EBITDA/EV Net PP&E/Total Assets Capital Spending/Total Assets
Advertising 40 83.50% 35.58% 55.24% 42.49% 73.87% 6.38% 25.79% 80.95% 11.69% 6.58% 1.52%
Aerospace/Defense 87 52.17% 14.51% 16.97% 15.58% 18.46% 11.59% 56.33% 49.06% 7.15% 12.95% 2.23%
Air Transport 17 55.55% 28.98% 40.81% 41.52% 71.00% 24.57% 75.58% 40.20% 15.23% 59.27% 9.78%
Apparel 51 44.02% 18.00% 21.96% 25.48% 34.18% 10.35% 53.42% 59.71% 8.97% 11.38% 2.60%
Auto & Truck 18 75.01% 59.37% 146.14% 59.69% 148.09% 8.15% 59.74% 38.59% 9.41% 17.70% 7.72%
Auto Parts 62 42.88% 20.46% 25.72% 22.06% 28.30% 7.71% 58.70% 56.74% 12.93% 26.19% 5.70%
Bank (Money Center) 11 65.79% 60.72% 154.58% 61.13% 157.26% 27.31% 53.43% 33.37% 0.22% 0.56% 0.03%
Banks (Regional) 612 45.68% 35.91% 56.04% 36.98% 58.68% 25.57% 34.89% 32.08% 0.34% 1.35% 0.18%
Beverage (Alcoholic) 28 50.41% 20.24% 25.38% 20.73% 26.14% 10.12% 37.91% 50.14% 5.78% 18.64% 3.36%
Beverage (Soft) 35 68.98% 18.26% 22.34% 18.74% 23.06% 6.41% 25.17% 45.33% 5.57% 14.80% 2.88%
Broadcasting 27 88.55% 51.32% 105.43% 52.87% 112.17% 17.18% 55.44% 52.30% 10.89% 6.85% 1.16%
Brokerage & Investment Banking 42 77.17% 68.45% 216.93% 68.74% 219.92% 14.56% 63.84% 42.48% 0.25% 1.13% 0.25%
Building Materials 39 48.17% 16.31% 19.50% 17.67% 21.46% 23.34% 72.72% 41.01% 7.80% 26.24% 3.45%
Business & Consumer Services 169 53.33% 18.76% 23.09% 21.53% 27.44% 11.09% 47.73% 49.45% 7.91% 10.53% 2.33%
Cable TV 14 59.14% 34.04% 51.61% 34.66% 53.05% 22.23% 45.34% 36.33% 10.01% 18.70% 4.43%
Chemical (Basic) 38 56.17% 26.99% 36.96% 29.22% 41.28% 9.76% 46.94% 59.39% 10.28% 42.00% 4.45%
Chemical (Diversified) 7 30.97% 20.52% 25.82% 21.37% 27.19% 11.66% 76.65% 68.62% 6.32% 20.92% 2.10%
Chemical (Specialty) 99 52.89% 21.28% 27.03% 22.48% 29.00% 9.64% 53.59% 59.69% 7.13% 26.84% 3.19%
Coal & Related Energy 30 44.40% 28.27% 39.40% 31.23% 45.41% 4.94% 33.59% 90.61% 20.01% 60.05% 2.59%
Computer Services 111 52.33% 21.38% 27.19% 23.57% 30.83% 9.40% 51.85% 48.53% 8.98% 7.94% 2.07%
Computers/Peripherals 58 47.83% 14.47% 16.91% 15.38% 18.17% 5.03% 46.20% 61.38% 8.23% 7.96% 3.12%
Construction Supplies 49 56.54% 23.61% 30.90% 24.51% 32.47% 17.36% 71.92% 45.67% 6.87% 18.36% 3.99%
Diversified 24 38.71% 23.68% 31.03% 24.52% 32.49% 12.09% 53.35% 26.82% 6.81% 17.81% 1.79%
Drugs (Biotechnology) 459 48.35% 13.12% 15.10% 13.67% 15.83% 1.36% 36.19% 94.78% 4.19% 6.66% 1.41%
Drugs (Pharmaceutical) 185 40.66% 12.39% 14.14% 12.76% 14.63% 2.11% 32.45% 85.70% 6.38% 11.24% 1.84%
Education 34 36.02% 19.46% 24.17% 27.97% 38.83% 8.24% 52.85% 53.59% 9.37% 19.58% 3.08%
Electrical Equipment 118 38.44% 12.67% 14.51% 13.68% 15.85% 5.06% 33.99% 66.17% 6.42% 19.56% 3.64%
Electronics (Consumer & Office) 24 27.80% 4.64% 4.87% 6.49% 6.94% 5.98% 19.86% 70.22% 0.57% 11.16% 4.30%
Electronics (General) 167 29.03% 11.84% 13.44% 13.02% 14.97% 8.34% 45.09% 60.25% 7.21% 22.40% 3.69%
Engineering/Construction 49 31.94% 18.43% 22.59% 22.91% 29.72% 13.37% 65.44% 53.02% 10.02% 10.49% 2.31%
Entertainment 90 46.73% 22.33% 28.75% 25.23% 33.74% 5.45% 43.44% 54.94% 9.40% 15.00% 2.32%
Environmental & Waste Services 87 56.57% 24.12% 31.78% 25.85% 34.87% 4.45% 37.53% 65.74% 8.33% 38.35% 4.68%
Farming/Agriculture 34 56.40% 34.82% 53.43% 35.71% 55.54% 7.69% 45.93% 42.57% 7.19% 18.67% 3.57%
Financial Svcs. (Non-bank & Insurance) 264 95.78% 91.15% 1030.23% 91.17% 1032.19% 19.89% 38.19% 36.63% 0.30% 0.50% 0.20%
Food Processing 87 45.87% 22.75% 29.44% 23.56% 30.82% 15.13% 54.59% 41.18% 7.42% 14.11% 2.26%
Food Wholesalers 15 63.00% 25.42% 34.08% 27.25% 37.46% 11.91% 67.58% 55.42% 8.59% 22.77% 3.34%
Furn/Home Furnishings 31 41.56% 19.27% 23.86% 21.79% 27.86% 12.56% 47.73% 51.26% 9.60% 22.45% 4.28%
Green & Renewable Energy 22 52.29% 47.57% 90.75% 49.55% 98.23% 2.41% 35.12% 60.29% 6.37% 76.34% 2.22%
Healthcare Products 251 39.73% 14.01% 16.30% 14.59% 17.08% 4.79% 42.50% 66.92% 4.92% 10.68% 2.11%
Healthcare Support Services 115 42.06% 18.52% 22.73% 19.89% 24.83% 13.69% 56.18% 57.44% 9.28% 4.48% 1.21%
Heathcare Information and Technology 112 41.98% 15.16% 17.87% 16.17% 19.30% 5.96% 45.37% 58.64% 4.56% 8.10% 1.87%
Homebuilding 32 44.49% 27.95% 38.80% 28.39% 39.65% 23.86% 74.55% 44.70% 7.25% 1.07% 0.46%
Hospitals/Healthcare Facilities 35 85.24% 60.19% 151.20% 63.84% 176.51% 10.57% 60.50% 60.63% 12.09% 41.42% 4.70%
Hotel/Gaming 70 62.61% 27.08% 37.13% 28.52% 39.91% 14.01% 49.44% 45.51% 7.44% 54.81% 3.47%
Household Products 131 49.73% 16.26% 19.42% 17.37% 21.03% 7.35% 31.95% 56.30% 7.01% 14.41% 2.63%
Information Services 61 53.18% 12.95% 14.88% 13.58% 15.71% 15.90% 65.18% 41.35% 5.25% 3.73% 1.31%
Insurance (General) 21 29.87% 26.28% 35.64% 27.80% 38.50% 14.71% 63.74% 37.21% 6.07% 1.86% 0.19%
Insurance (Life) 25 36.53% 35.71% 55.55% 36.33% 57.06% 15.32% 70.94% 37.34% 6.31% 0.06% 0.01%
Insurance (Prop/Cas.) 50 29.44% 19.72% 24.57% 20.90% 26.43% 18.50% 62.70% 34.65% 7.79% 0.92% 0.27%
Investments & Asset Management 165 45.92% 28.60% 40.06% 29.62% 42.08% 8.30% 42.48% 41.00% 4.53% 0.60% 0.23%
Machinery 126 45.48% 15.65% 18.56% 16.49% 19.75% 14.05% 65.18% 43.17% 6.72% 12.82% 2.04%
Metals & Mining 102 46.63% 22.95% 29.79% 23.39% 30.54% 1.66% 18.41% 82.33% 11.10% 58.87% 4.23%
Office Equipment & Services 24 58.37% 30.98% 44.89% 34.06% 51.65% 18.37% 56.44% 49.66% 11.95% 13.16% 3.14%
Oil/Gas (Integrated) 5 20.53% 12.47% 14.25% 13.26% 15.29% 10.96% 67.19% 20.21% 7.72% 72.14% 5.40%
Oil/Gas (Production and Exploration) 311 43.64% 28.59% 40.04% 29.53% 41.91% 2.18% 38.39% 78.88% 8.95% 79.58% 14.47%
Oil/Gas Distribution 16 59.91% 47.87% 91.83% 48.30% 93.43% 4.84% 52.94% 62.79% 6.82% 62.43% 5.76%
Oilfield Svcs/Equip. 130 30.87% 21.44% 27.29% 23.65% 30.98% 5.27% 55.68% 73.29% 7.78% 36.87% 3.58%
Packaging & Container 25 64.99% 32.36% 47.83% 33.43% 50.22% 22.37% 73.48% 27.67% 9.70% 33.55% 3.92%
Paper/Forest Products 21 40.79% 26.72% 36.46% 28.58% 40.01% 14.18% 65.17% 56.81% 11.05% 46.59% 4.70%
Power 61 57.68% 42.08% 72.65% 43.30% 76.36% 20.31% 67.36% 31.23% 9.48% 68.22% 6.92%
Precious Metals 111 20.79% 14.95% 17.58% 15.15% 17.85% 2.16% 23.02% 91.35% 11.33% 57.78% 5.70%
Publishing & Newspapers 41 37.18% 25.18% 33.65% 30.79% 44.49% 11.92% 56.71% 54.14% 12.28% 17.37% 2.43%
R.E.I.T. 244 60.31% 42.53% 74.00% 43.98% 78.50% 1.96% 76.09% 32.14% 4.37% 53.26% 0.36%
Real Estate (Development) 20 40.37% 29.74% 42.32% 31.18% 45.30% 5.80% 41.04% 44.27% 3.33% 55.99% 0.55%
Real Estate (General/Diversified) 10 22.14% 18.53% 22.75% 19.10% 23.60% 12.77% 40.50% 41.07% 3.49% 18.34% 0.27%
Real Estate (Operations & Services) 60 55.12% 28.63% 40.11% 31.84% 46.71% 8.82% 31.16% 54.01% 6.58% 9.18% 1.12%
Recreation 70 51.14% 20.26% 25.41% 22.83% 29.59% 10.16% 55.66% 50.85% 8.50% 27.11% 4.21%
Reinsurance 3 22.94% 20.81% 26.29% 21.71% 27.73% 10.92% 72.70% 18.99% 6.97% 0.15% 0.10%
Restaurant/Dining 81 94.12% 17.13% 20.67% 24.36% 32.21% 14.99% 64.31% 48.41% 7.22% 46.54% 7.00%
Retail (Automotive) 25 75.29% 36.85% 58.35% 43.17% 75.96% 19.04% 74.09% 42.62% 8.96% 27.99% 3.55%
Retail (Building Supply) 8 81.97% 12.11% 13.78% 15.15% 17.86% 15.36% 43.02% 53.44% 7.39% 50.37% 3.70%
Retail (Distributors) 92 58.42% 28.83% 40.51% 31.31% 45.58% 14.20% 57.11% 49.24% 7.38% 8.36% 4.96%
Retail (General) 18 45.50% 17.28% 20.89% 23.75% 31.15% 22.96% 75.25% 49.94% 10.35% 49.88% 4.99%
Retail (Grocery and Food) 14 65.17% 36.18% 56.68% 45.56% 83.68% 21.04% 47.82% 45.73% 13.97% 54.72% 7.97%
Retail (Online) 61 48.21% 9.04% 9.93% 10.24% 11.41% 7.57% 51.56% 60.64% 2.99% 20.39% 4.63%
Retail (Special Lines) 106 42.02% 17.43% 21.11% 34.64% 53.00% 22.01% 65.35% 59.68% 12.62% 20.24% 3.99%
Rubber& Tires 4 51.28% 40.40% 67.78% 43.82% 77.99% 7.91% 106.19% 56.24% 17.60% 40.16% 5.63%
Semiconductor 72 33.22% 11.21% 12.62% 11.58% 13.10% 8.04% 64.18% 52.68% 8.26% 22.41% 5.93%
Semiconductor Equip 45 33.20% 9.95% 11.04% 10.34% 11.53% 8.51% 60.13% 61.04% 8.53% 11.72% 2.77%
Shipbuilding & Marine 9 37.96% 29.42% 41.68% 31.95% 46.95% 8.31% 37.24% 94.40% 7.90% 62.17% 6.99%
Shoe 11 25.17% 4.68% 4.91% 8.80% 9.65% 16.75% 65.53% 44.39% 5.95% 15.80% 0.74%
Software (Entertainment) 13 23.74% 5.33% 5.63% 6.06% 6.45% 2.21% 68.37% 49.61% 4.41% 3.43% 1.06%
Software (Internet) 305 10.68% 2.35% 2.41% 3.21% 3.32% 2.50% 39.92% 65.60% 4.07% 14.43% 4.76%
Software (System & Application) 255 46.06% 11.46% 12.94% 12.39% 14.14% 3.98% 47.08% 53.27% 3.80% 7.36% 2.30%
Steel 37 43.62% 25.53% 34.29% 26.59% 36.23% 7.05% 58.77% 70.40% 11.62% 37.58% 3.38%
Telecom (Wireless) 18 61.15% 46.75% 87.80% 54.54% 119.97% 7.95% 40.51% 54.46% 16.03% 27.87% 6.85%
Telecom. Equipment 104 38.49% 16.28% 19.44% 17.17% 20.73% 8.12% 54.18% 57.87% 6.97% 6.71% 1.67%
Telecom. Services 66 66.44% 41.26% 70.24% 44.30% 79.53% 8.05% 38.81% 52.57% 13.61% 32.68% 5.85%
Tobacco 24 92.93% 14.38% 16.79% 14.63% 17.14% 5.25% 34.17% 45.16% 6.51% 10.23% 1.87%
Transportation 18 60.07% 17.17% 20.73% 23.09% 30.02% 21.92% 82.49% 46.36% 8.91% 47.52% 9.54%
Transportation (Railroads) 8 46.41% 17.13% 20.67% 18.48% 22.66% 23.82% 60.50% 29.77% 8.65% 86.16% 5.72%
Trucking 30 68.02% 38.99% 63.90% 41.11% 69.80% 20.56% 67.36% 54.25% 8.70% 21.76% 12.02%
Utility (General) 18 58.71% 39.78% 66.06% 40.21% 67.24% 30.89% 76.33% 20.67% 8.47% 69.28% 7.67%
Utility (Water) 23 55.57% 27.33% 37.60% 27.61% 38.14% 15.09% 40.31% 34.50% 6.45% 77.24% 7.04%
Total Market 7247 62.78% 35.83% 55.85% 37.11% 59.01% 10.04% 48.32% 53.52% 5.50% 13.26% 1.72%
Total Market (without financials) 6057 49.72% 21.55% 27.47% 23.51% 30.74% 7.92% 49.89% 57.16% 7.31% 30.81% 3.95%

Updated January 2018
By Aswath Damodaran