Margins by Sector

Data Used: S&P Capital IQ, Bloomberg and the Fed

Date of Analysis: Data used is as of January 2014

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

can be obtained by clicking here

on which companies are included in each industry


Industry Name Number of firms Net Margin Pre-tax Unadjusted Operating Margin Pre-tax Lease adjusted Margin After-tax Lease Adjusted Margin EBITDA/Sales EBITDASG&A/Sales EBITDAR&D/Sales
Advertising 65 3.90% 11.54% 14.58% 13.70% 15.52% 35.21% 15.70%
Aerospace/Defense 95 6.64% 11.13% 11.39% 9.68% 12.78% 20.30% 16.85%
Air Transport 25 2.82% 6.60% 7.20% 6.21% 9.40% 13.41% 9.46%
Apparel 70 6.72% 12.95% 13.85% 12.42% 14.23% 49.53% 14.64%
Auto & Truck 26 3.82% 3.34% 3.49% 3.33% 6.88% 15.48% 11.12%
Auto Parts 75 4.00% 7.45% 7.82% 7.08% 9.17% 16.66% 11.79%
Bank 7 27.21% 0.00% 0.00% 0.00% 0.00% 44.42% 0.00%
Banks (Regional) 721 23.05% 0.00% 0.00% 0.00% 0.00% 50.77% 0.00%
Beverage  47 12.77% 17.75% 17.83% 17.13% 21.54% 57.88% 21.97%
Beverage (Alcoholic) 19 22.63% 20.23% 20.58% 18.38% 22.38% 50.35% 22.42%
Biotechnology 349 6.88% 16.91% 16.64% 16.45% 22.31% 52.85% 56.85%
Broadcasting 30 29.55% 24.41% 26.68% 23.15% 27.45% 49.82% 27.45%
Brokerage & Investment Banking 49 9.72% 0.59% 1.76% 1.52% 0.56% 34.05% 0.63%
Building Materials 37 1.91% 6.35% 6.98% 5.84% 8.21% 24.60% 8.95%
Business & Consumer Services 179 4.34% 9.51% 10.08% 8.73% 12.85% 32.77% 13.09%
Cable TV 16 8.93% 18.61% 19.01% 16.16% 28.96% 55.80% 29.01%
Chemical (Basic) 47 4.28% 10.01% 10.32% 9.67% 14.11% 21.90% 14.70%
Chemical (Diversified) 10 7.74% 9.38% 9.59% 7.19% 14.22% 21.72% 17.82%
Chemical (Specialty) 100 11.19% 15.25% 15.93% 13.90% 19.60% 37.28% 22.32%
Coal & Related Energy 45 -10.81% 2.70% 3.58% 3.49% 20.03% 24.33% 24.59%
Computer Services 129 6.85% 9.78% 10.18% 9.16% 12.13% 25.58% 14.38%
Computer Software 273 20.47% 26.73% 27.00% 25.34% 30.75% 62.03% 46.75%
Computers/Peripherals 66 13.17% 18.60% 18.64% 17.59% 22.64% 33.61% 27.09%
Construction 18 3.02% 6.19% 6.56% 5.91% 13.60% 23.00% 13.71%
Diversified 20 10.46% 13.77% 14.41% 12.59% 20.30% 26.86% 24.20%
Educational Services 40 -0.07% 8.23% 8.16% 7.20% 15.38% 53.22% 15.80%
Electrical Equipment 135 6.36% 12.66% 13.25% 12.26% 15.63% 34.92% 17.66%
Electronics 191 5.67% 8.25% 8.03% 7.43% 12.60% 25.51% 17.22%
Electronics (Consumer & Office) 26 9.36% 6.46% 7.76% 7.06% 10.49% 29.91% 14.03%
Engineering 56 2.15% 4.48% 5.23% 4.45% 6.01% 11.63% 6.03%
Entertainment 85 13.75% 19.81% 19.80% 18.84% 22.99% 35.78% 23.00%
Environmental & Waste Services 108 4.40% 11.62% 12.48% 11.85% 18.71% 30.56% 18.77%
Farming/Agriculture 29 1.05% 2.40% 2.55% 2.32% 3.58% 6.11% 3.67%
Financial Svcs. 76 21.77% 9.85% 10.05% 8.20% 10.47% 46.05% 10.66%
Financial Svcs. (Non-bank & Insurance) 17 15.55% 0.14% 1.51% 1.36% 0.00% 55.30% 0.00%
Food Processing 97 6.22% 10.75% 11.18% 9.61% 12.88% 29.02% 13.61%
Food Wholesalers 18 2.02% 4.00% 4.13% 3.69% 4.98% 17.62% 4.98%
Furn/Home Furnishings 36 4.16% 7.33% 7.87% 7.08% 9.11% 25.19% 10.73%
Healthcare Equipment 193 9.41% 20.30% 20.53% 19.34% 26.43% 57.91% 35.39%
Healthcare Facilities 47 2.54% 10.76% 10.95% 9.47% 15.79% 18.84% 15.84%
Healthcare Products 58 4.26% 10.65% 11.00% 10.04% 17.58% 53.00% 23.01%
Healthcare Services 126 2.42% 4.99% 5.08% 4.38% 5.48% 13.82% 5.56%
Heathcare Information and Technology 125 7.52% 13.02% 13.42% 12.61% 18.58% 46.61% 25.42%
Heavy Construction 46 5.61% 9.71% 10.05% 8.10% 14.38% 24.06% 17.44%
Homebuilding 32 14.11% 8.80% 8.97% 8.37% 7.22% 18.54% 7.22%
Hotel/Gaming 89 2.87% 15.76% 15.56% 13.93% 22.13% 38.71% 22.54%
Household Products 139 9.63% 16.43% 16.60% 15.02% 19.23% 52.48% 21.01%
Information Services 71 15.50% 24.23% 25.17% 20.88% 27.44% 47.53% 28.73%
Insurance (General) 26 5.02% 13.04% 13.28% 10.73% 19.21% 23.19% 19.22%
Insurance (Life) 27 4.85% 8.54% 8.70% 7.15% 9.81% 18.20% 9.81%
Insurance (Prop/Cas.) 53 10.33% 14.35% 14.59% 11.75% 12.87% 21.72% 12.87%
Internet software and services 330 14.18% 18.91% 18.84% 17.97% 23.50% 51.08% 35.98%
Investment Co. 65 16.63% 6.83% 7.01% 6.55% 6.16% 55.30% 6.28%
Machinery 141 7.72% 12.07% 12.59% 10.95% 15.26% 34.49% 17.12%
Metals & Mining 134 4.86% 14.28% 14.50% 14.22% 22.90% 28.30% 23.31%
Office Equipment & Services 30 2.68% 8.27% 8.99% 7.83% 12.00% 36.81% 13.39%
Oil/Gas (Integrated) 8 9.72% 12.61% 12.99% 10.32% 21.10% 24.55% 21.35%
Oil/Gas (Production and Exploration) 411 7.68% 22.49% -36.96% -34.64% 42.09% 48.34% 42.18%
Oil/Gas Distribution 80 4.14% 7.95% 8.01% 7.68% 10.32% 13.05% 10.32%
Oilfield Svcs/Equip. 163 3.52% 5.69% 6.22% 5.56% 8.73% 11.18% 9.08%
Packaging & Container 24 3.73% 9.29% 9.81% 7.72% 13.61% 24.06% 14.29%
Paper/Forest Products 21 4.05% 7.20% 7.51% 6.89% 11.26% 23.08% 11.34%
Pharma & Drugs 138 20.31% 24.76% 25.08% 24.00% 34.02% 63.21% 48.88%
Power 106 7.26% 17.06% 16.25% 13.65% 26.90% 30.44% 27.01%
Precious Metals 166 -18.86% 11.65% 12.22% 12.12% 42.36% 51.58% 44.42%
Publshing & Newspapers 52 3.10% 9.24% 9.57% 8.24% 15.78% 34.69% 16.92%
R.E.I.T. 46 73.16% 0.29% 0.33% 0.32% 0.95% 12.06% 0.95%
Railroad 10 17.62% 30.74% 31.27% 24.86% 37.71% 37.80% 37.71%
Real Estate (Development) 22 -12.88% 8.18% 5.88% 5.71% 6.62% 19.19% 6.62%
Real Estate (General/Diversified) 11 4.80% 8.37% 8.71% 7.95% 21.96% 38.13% 21.96%
Real Estate (Operations & Services) 47 3.96% 9.14% 9.57% 8.75% 12.49% 50.21% 12.53%
Recreation 70 7.29% 14.11% 14.16% 12.91% 18.15% 40.21% 20.58%
Reinsurance 3 5.37% 8.25% 8.14% 7.05% 13.08% 13.34% 13.08%
Restaurant 84 7.73% 15.05% 14.12% 11.98% 19.60% 32.65% 19.63%
Retail (Automotive) 30 2.94% 5.47% 5.05% 4.08% 6.04% 19.24% 6.04%
Retail (Building Supply) 7 5.56% 9.86% 9.16% 7.15% 11.08% 33.44% 11.08%
Retail (Distributors) 87 3.53% 9.32% 9.76% 8.18% 9.64% 28.34% 9.68%
Retail (General) 21 2.90% 5.28% 5.07% 3.80% 7.40% 26.96% 7.41%
Retail (Grocery and Food) 21 0.75% 3.00% 2.26% 1.74% 4.86% 23.65% 4.86%
Retail (Internet) 47 3.37% 4.37% 4.12% 3.71% 6.31% 29.71% 9.43%
Retail (Special Lines) 137 3.88% 7.02% 6.84% 5.55% 8.85% 31.76% 8.89%
Rubber& Tires 4 2.68% 7.01% 7.60% 6.45% 9.86% 22.55% 11.63%
Semiconductor 104 11.43% 15.65% 15.91% 14.75% 27.61% 41.51% 46.82%
Semiconductor Equip 51 -1.25% 6.65% 7.07% 6.71% 16.15% 31.86% 30.06%
Shipbuilding & Marine 14 0.27% 7.68% 10.59% 10.06% 15.85% 24.42% 15.85%
Shoe 14 9.47% 12.67% 12.90% 10.35% 13.17% 44.35% 13.28%
Steel 37 -2.44% 4.38% 4.60% 3.95% 8.86% 15.01% 8.93%
Telecom (Wireless) 28 -6.30% 3.65% -0.97% -0.86% 19.28% 49.22% 19.42%
Telecom. Equipment 131 14.98% 18.71% 19.01% 17.70% 23.36% 44.04% 38.01%
Telecom. Services 82 3.32% 12.27% 12.50% 11.45% 25.68% 56.41% 26.17%
Thrift 223 164.70% -0.23% 0.00% 0.00% 0.00% 10.00% 0.01%
Tobacco 12 24.69% 40.07% 40.37% 34.63% 41.50% 58.51% 42.45%
Transportation 22 3.36% 5.91% 6.11% 4.81% 8.52% 9.84% 8.53%
Trucking 28 3.17% 9.05% 11.43% 8.24% 13.29% 19.71% 13.29%
Utility (General) 20 6.28% 17.48% 17.51% 12.27% 27.32% 27.68% 27.36%
Utility (Water) 20 14.20% 29.10% 29.18% 24.94% 42.50% 47.68% 42.58%
Total Market 7766 8.06% 10.57% 9.66% 8.66% 14.71% 30.01% 16.76%

 



Last Updated in January 2014
By Aswath Damodaran