| Industry Name | Number of Firms | Average Beta | Market D/E Ratio | Tax Rate | Unlevered Beta | Cash/Firm Value | Unlevered Beta corrected for cash |
| Advertising | 30 | 1.16 | 9.53% | 39.78% | 1.10 | 4.89% | 1.15 |
| Aerospace/Defense | 40 | 0.83 | 44.76% | 35.74% | 0.64 | 4.70% | 0.67 |
| Air Transport | 37 | 1.09 | 78.02% | 39.08% | 0.74 | 11.37% | 0.84 |
| Apparel | 46 | 0.82 | 52.67% | 38.11% | 0.62 | 4.27% | 0.65 |
| Auto & Truck | 20 | 0.86 | 128.07% | 37.73% | 0.48 | 11.17% | 0.54 |
| Auto Parts (OEM) | 31 | 0.79 | 72.29% | 37.19% | 0.54 | 5.76% | 0.57 |
| Auto Parts (Replacement) | 28 | 0.65 | 122.49% | 35.88% | 0.36 | 2.65% | 0.37 |
| Bank | 177 | 0.79 | 55.99% | 35.74% | 0.58 | 16.43% | 0.69 |
| Bank (Canadian) | 7 | 1.10 | 31.17% | 35.83% | 0.92 | 8.30% | 1.00 |
| Bank (Foreign) | 2 | 1.35 | 19.79% | 29.00% | 1.18 | 10.52% | 1.32 |
| Bank (Midwest) | 33 | 0.83 | 59.67% | 33.19% | 0.59 | 15.68% | 0.70 |
| Beverage (Alcoholic) | 22 | 0.60 | 25.04% | 39.14% | 0.52 | 2.70% | 0.54 |
| Beverage (Soft Drink) | 14 | 0.77 | 12.26% | 34.79% | 0.71 | 1.72% | 0.73 |
| Building Materials | 40 | 0.87 | 49.44% | 36.46% | 0.66 | 3.61% | 0.69 |
| Cable TV | 21 | 1.11 | 60.56% | 45.00% | 0.83 | 11.65% | 0.94 |
| Canadian Energy | 16 | 0.71 | 52.89% | 41.88% | 0.55 | 2.06% | 0.56 |
| Cement & Aggregates | 13 | 0.77 | 26.79% | 34.99% | 0.65 | 3.13% | 0.67 |
| Chemical (Basic) | 14 | 0.88 | 36.92% | 34.73% | 0.71 | 2.98% | 0.73 |
| Chemical (Diversified) | 34 | 0.77 | 25.53% | 35.02% | 0.66 | 3.46% | 0.68 |
| Chemical (Specialty) | 83 | 0.76 | 41.28% | 35.35% | 0.60 | 2.92% | 0.62 |
| Computer & Peripherals | 147 | 1.13 | 3.07% | 33.29% | 1.11 | 3.03% | 1.14 |
| Computer Software & Svcs | 413 | 1.05 | 2.21% | 33.82% | 1.03 | 4.24% | 1.08 |
| Diversified Co. | 91 | 0.81 | 32.29% | 37.43% | 0.67 | 5.49% | 0.71 |
| Drug | 272 | 0.87 | 3.27% | 30.04% | 0.85 | 2.55% | 0.87 |
| Drugstore | 10 | 0.90 | 13.96% | 39.67% | 0.83 | 0.89% | 0.84 |
| Educational Services | 28 | 0.83 | 5.04% | 38.90% | 0.81 | 5.45% | 0.85 |
| Electric Util. (Central) | 35 | 0.54 | 112.82% | 34.10% | 0.31 | 2.99% | 0.32 |
| Electric Utility (East) | 36 | 0.53 | 87.08% | 36.31% | 0.34 | 2.18% | 0.35 |
| Electric Utility (West) | 17 | 0.54 | 102.80% | 34.66% | 0.32 | 3.16% | 0.33 |
| Electrical Equipment | 87 | 0.86 | 3.03% | 34.47% | 0.84 | 0.89% | 0.85 |
| Electronics | 141 | 0.95 | 5.66% | 32.72% | 0.91 | 3.14% | 0.94 |
| Entertainment | 91 | 0.87 | 22.52% | 43.00% | 0.77 | 2.56% | 0.79 |
| Environmental | 53 | 0.71 | 125.85% | 40.50% | 0.41 | 1.39% | 0.41 |
| Financial Svcs. (Div.) | 186 | 0.95 | 47.30% | 33.48% | 0.72 | 9.36% | 0.79 |
| Food Processing | 93 | 0.68 | 31.35% | 35.34% | 0.57 | 15.29% | 0.67 |
| Food Wholesalers | 23 | 0.69 | 36.62% | 40.20% | 0.57 | 3.31% | 0.59 |
| Foreign Electron/Entertn | 13 | 0.89 | 18.92% | 42.91% | 0.80 | 12.11% | 0.91 |
| Foreign Telecom. | 16 | 1.09 | 8.40% | 29.70% | 1.03 | 1.51% | 1.05 |
| Furn./Home Furnishings | 36 | 0.83 | 29.07% | 37.11% | 0.70 | 3.26% | 0.72 |
| Gold/Silver Mining | 31 | 0.64 | 15.23% | 30.07% | 0.58 | 6.19% | 0.61 |
| Grocery | 27 | 0.71 | 38.59% | 38.64% | 0.57 | 1.93% | 0.59 |
| Healthcare Info Systems | 31 | 0.84 | 14.82% | 37.08% | 0.77 | 6.21% | 0.82 |
| Home Appliance | 12 | 0.93 | 35.96% | 35.00% | 0.76 | 5.72% | 0.80 |
| Homebuilding | 59 | 0.82 | 94.29% | 38.40% | 0.52 | 4.95% | 0.55 |
| Hotel/Gaming | 54 | 0.85 | 92.44% | 38.60% | 0.54 | 4.34% | 0.57 |
| Household Products | 29 | 0.75 | 17.35% | 36.26% | 0.68 | 2.00% | 0.69 |
| Industrial Services | 185 | 0.89 | 20.98% | 38.86% | 0.79 | 3.64% | 0.82 |
| Insurance (Life) | 33 | 0.92 | 23.04% | 31.98% | 0.80 | 7.13% | 0.86 |
| Insurance (Prop/Casualty | 59 | 0.81 | 9.46% | 24.74% | 0.76 | 7.56% | 0.82 |
| Internet | 307 | 2.01 | 1.24% | 28.84% | 2.00 | 3.52% | 2.07 |
| Investment Co. | 26 | 0.58 | 2.76% | 0.00% | 0.56 | 0.17% | 0.56 |
| Investment Co. (Foreign) | 20 | 1.16 | 3.12% | 0.00% | 1.13 | 0.91% | 1.14 |
| Machinery | 124 | 0.77 | 46.33% | 35.53% | 0.59 | 2.85% | 0.61 |
| Manuf. Housing/Rec Veh | 21 | 0.80 | 51.02% | 38.00% | 0.61 | 10.58% | 0.68 |
| Maritime | 16 | 0.78 | 130.12% | 23.50% | 0.39 | 5.47% | 0.42 |
| Medical Services | 160 | 0.86 | 33.12% | 37.45% | 0.71 | 10.18% | 0.79 |
| Medical Supplies | 196 | 0.82 | 7.09% | 33.83% | 0.79 | 2.30% | 0.80 |
| Metal Fabricating | 42 | 0.83 | 22.88% | 34.64% | 0.72 | 2.39% | 0.74 |
| Metals & Mining (Div.) | 37 | 0.87 | 40.24% | 33.90% | 0.69 | 3.03% | 0.71 |
| Natural Gas (Distrib.) | 42 | 0.60 | 81.48% | 36.43% | 0.39 | 1.65% | 0.40 |
| Natural Gas (Diversified | 39 | 0.71 | 41.49% | 34.40% | 0.55 | 2.25% | 0.57 |
| Newspaper | 19 | 0.82 | 18.01% | 37.62% | 0.73 | 2.83% | 0.76 |
| Office Equip & Supplies | 28 | 0.89 | 61.28% | 38.84% | 0.65 | 2.15% | 0.66 |
| Oilfield Services/Equip. | 70 | 1.02 | 17.48% | 31.32% | 0.91 | 4.60% | 0.95 |
| Packaging & Container | 37 | 0.77 | 115.14% | 38.33% | 0.45 | 2.50% | 0.46 |
| Paper & Forest Products | 52 | 0.80 | 73.05% | 35.98% | 0.54 | 3.65% | 0.56 |
| Petroleum (Integrated) | 42 | 0.76 | 13.01% | 40.12% | 0.70 | 2.01% | 0.72 |
| Petroleum (Producing) | 97 | 0.73 | 39.53% | 36.80% | 0.59 | 1.36% | 0.59 |
| Precision Instrument | 88 | 0.87 | 6.91% | 32.17% | 0.83 | 2.52% | 0.85 |
| Publishing | 48 | 0.82 | 23.97% | 38.56% | 0.71 | 3.62% | 0.74 |
| R.E.I.T. | 152 | 0.70 | 9.47% | 45.10% | 0.66 | 0.24% | 0.66 |
| Railroad | 16 | 0.81 | 64.73% | 36.31% | 0.57 | 2.35% | 0.59 |
| Recreation | 86 | 0.81 | 26.88% | 31.23% | 0.68 | 4.99% | 0.72 |
| Restaurant | 93 | 0.77 | 23.68% | 36.83% | 0.67 | 2.00% | 0.68 |
| Retail (Special Lines) | 202 | 1.13 | 14.85% | 38.57% | 1.04 | 6.45% | 1.11 |
| Retail Building Supply | 12 | 0.85 | 2.80% | 38.44% | 0.84 | 0.60% | 0.84 |
| Retail Store | 31 | 1.06 | 20.52% | 38.74% | 0.94 | 1.40% | 0.95 |
| Securities Brokerage | 32 | 1.22 | 107.81% | 36.73% | 0.72 | 13.52% | 0.84 |
| Semiconductor | 100 | 1.31 | 1.90% | 27.84% | 1.29 | 3.20% | 1.33 |
| Semiconductor Cap Equip | 7 | 1.84 | 0.64% | 32.36% | 1.84 | 4.01% | 1.91 |
| Shoe | 26 | 0.90 | 17.36% | 37.09% | 0.82 | 8.34% | 0.89 |
| Steel (General) | 30 | 0.76 | 67.84% | 35.06% | 0.53 | 7.64% | 0.57 |
| Steel (Integrated) | 19 | 0.90 | 93.61% | 28.20% | 0.54 | 11.73% | 0.61 |
| Telecom. Equipment | 118 | 1.10 | 3.82% | 32.08% | 1.07 | 1.89% | 1.09 |
| Telecom. Services | 172 | 1.17 | 18.64% | 37.53% | 1.05 | 2.83% | 1.08 |
| Textile | 26 | 0.76 | 232.68% | 36.87% | 0.31 | 2.68% | 0.32 |
| Thrift | 133 | 0.80 | 358.00% | 35.76% | 0.24 | 2.82% | 0.25 |
| Tire & Rubber | 10 | 0.87 | 79.44% | 37.50% | 0.58 | 5.13% | 0.61 |
| Tobacco | 12 | 0.62 | 29.19% | 38.92% | 0.52 | 7.28% | 0.56 |
| Toiletries/Cosmetics | 20 | 0.93 | 15.69% | 34.73% | 0.84 | 1.40% | 0.85 |
| Trucking/Transp. Leasing | 50 | 0.84 | 144.26% | 38.89% | 0.45 | 10.92% | 0.50 |
| Utility (Foreign) | 2 | 1.40 | 44.81% | 30.50% | 1.06 | 0.64% | 1.07 |
| Water Utility | 15 | 0.59 | 85.18% | 36.88% | 0.38 | 0.80% | 0.39 |
| Wireless Networking | 11 | 1.25 | 0.63% | 35.63% | 1.24 | 2.04% | 1.27 |
| Market | 5903 | 0.86 | 23.92% | 35.48% | 0.74 | 4.80% | 0.78 |