8/2/23, 19:25 Betas

Betas by Sector (US)

Date of Analysis: Data used is as of January 2023

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

For global datasets: https://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html

YouTube Video explaining data: https://www.youtube.com/watch?v=rxmttgceSjg

can be obtained by clicking here

on which companies are included in each industry

Effective
Industry Name Number of firms Beta  D/E Ratio Tax rate Unlevered beta Cash/Firm value Unlevered beta c
Advertising 58 1.63 44.99% 6.39% 1.22 9.35% 1.
Aerospace/Defense 77 1.41 26.06% 8.60% 1.18 3.77% 1.
Air Transport 21 1.42 186.33% 10.47% 0.59 14.90% 0.
Apparel 39 1.32 51.57% 12.04% 0.96 6.02% 1.
Auto & Truck 31 1.54 50.19% 3.00% 1.12 8.67% 1.
Auto Parts 37 1.47 42.66% 9.30% 1.12 7.13% 1.
Bank (Money Center) 7 1.08 216.38% 16.25% 0.41 44.30% 0.
Banks (Regional) 557 0.50 64.62% 18.84% 0.34 17.66% 0.
Beverage (Alcoholic) 23 1.01 22.91% 9.39% 0.86 1.86% 0.
Beverage (Soft) 31 1.30 15.27% 6.42% 1.17 2.66% 1.
Broadcasting 26 1.32 146.83% 15.76% 0.63 10.39% 0.
Brokerage & Investment Banking 30 1.20 201.09% 15.32% 0.48 30.76% 0.
Building Materials 45 1.28 28.93% 16.71% 1.05 4.44% 1.
Business & Consumer Services 164 1.17 27.47% 9.43% 0.97 4.80% 1.
Cable TV 10 1.26 107.27% 21.95% 0.70 1.47% 0.
Chemical (Basic) 38 1.25 48.30% 9.83% 0.92 4.54% 0.
Chemical (Diversified) 4 1.41 58.24% 12.02% 0.98 9.82% 1.
Chemical (Specialty) 76 1.28 27.40% 10.75% 1.06 5.00% 1.
Coal & Related Energy 19 1.45 21.71% 2.28% 1.25 12.60% 1.
Computer Services 80 1.17 32.56% 6.47% 0.94 5.21% 0.
Computers/Peripherals 42 1.29 9.52% 9.13% 1.21 1.79% 1.
Construction Supplies 49 1.26 30.13% 10.52% 1.03 4.15% 1.
Diversified 23 1.04 21.24% 2.98% 0.90 4.67% 0.
Drugs (Biotechnology) 598 1.24 15.32% 0.94% 1.11 7.14% 1.
Drugs (Pharmaceutical) 281 1.27 13.62% 2.37% 1.15 2.56% 1.
Education 33 1.10 30.61% 7.10% 0.90 9.90% 0.
Electrical Equipment 110 1.59 22.52% 4.47% 1.36 5.07% 1.
Electronics (Consumer & Office) 16 1.54 16.45% 3.98% 1.37 15.08% 1.
Electronics (General) 138 1.20 18.82% 6.29% 1.05 5.69% 1.
Engineering/Construction 43 1.20 31.59% 13.30% 0.97 4.92% 1.
Entertainment 110 1.45 33.28% 3.45% 1.16 6.90% 1.
Environmental & Waste Services 62 1.02 25.54% 5.42% 0.85 0.81% 0.
Farming/Agriculture 39 1.14 33.87% 6.64% 0.91 2.33% 0.
Financial Svcs. (Non-bank & Insuran 223 0.89 1004.40% 14.61% 0.10 2.24% 0.
Food Processing 92 0.92 28.86% 7.74% 0.75 1.87% 0.
Food Wholesalers 14 1.12 46.16% 11.94% 0.83 1.30% 0.
Furn/Home Furnishings 32 1.27 55.94% 12.67% 0.90 5.95% 0.
Green & Renewable Energy 19 1.60 121.12% 6.73% 0.84 4.38% 0.
Healthcare Products 254 1.16 12.60% 3.70% 1.06 3.20% 1.
Healthcare Support Services 131 1.16 23.61% 6.74% 0.99 8.08% 1.
Heathcare Information and Technol 138 1.47 14.21% 4.30% 1.33 2.99% 1.
Homebuilding 32 1.50 32.34% 17.81% 1.21 9.31% 1.
Hospitals/Healthcare Facilities 34 1.17 87.24% 9.56% 0.71 1.85% 0.
Hotel/Gaming 69 1.46 66.58% 8.14% 0.97 8.22% 1.
Household Products 127 1.16 15.52% 6.73% 1.03 2.21% 1.
Information Services 73 1.40 13.06% 12.45% 1.28 4.05% 1.
Insurance (General) 21 1.23 30.49% 10.26% 1.00 2.69% 1.
Insurance (Life) 27 0.94 92.40% 11.41% 0.55 16.87% 0.
Insurance (Prop/Cas.) 51 0.80 21.47% 10.92% 0.69 5.16% 0.
Investments & Asset Management 600 0.62 38.35% 4.01% 0.48 9.94% 0.
Machinery 116 1.22 20.84% 10.37% 1.06 3.16% 1.
Metals & Mining 68 1.29 21.54% 4.15% 1.11 8.91% 1.
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Office Equipment & Services 16 1.18 66.80% 19.53% 0.78 7.18% 0.
Oil/Gas (Integrated) 4 0.98 11.50% 14.22% 0.90 4.91% 0.
Oil/Gas (Production and Exploratio 174 1.26 20.08% 4.60% 1.09 3.81% 1.
Oil/Gas Distribution 23 0.99 71.41% 6.90% 0.65 1.67% 0.
Oilfield Svcs/Equip. 101 1.38 32.60% 7.07% 1.10 6.91% 1.
Packaging & Container 25 0.95 61.97% 14.66% 0.65 3.02% 0.
Paper/Forest Products 7 1.38 43.87% 12.76% 1.04 7.57% 1.
Power 48 0.73 77.16% 12.30% 0.46 1.03% 0.
Precious Metals 74 1.23 16.33% 2.87% 1.10 7.43% 1.
Publishing & Newspapers 20 1.11 42.18% 9.67% 0.85 7.35% 0.
R.E.I.T. 223 1.06 77.33% 3.38% 0.67 1.83% 0.
Real Estate (Development) 18 1.52 112.56% 6.66% 0.82 6.95% 0.
Real Estate (General/Diversified) 12 0.79 39.82% 9.37% 0.61 8.54% 0.
Real Estate (Operations & Services) 60 1.35 109.26% 5.47% 0.74 8.14% 0.
Recreation 57 1.42 52.06% 9.49% 1.02 5.18% 1.
Reinsurance 1 0.83 45.10% 6.48% 0.62 25.49% 0.
Restaurant/Dining 70 1.41 30.78% 8.54% 1.15 1.72% 1.
Retail (Automotive) 30 1.52 57.49% 15.84% 1.06 1.89% 1.
Retail (Building Supply) 15 1.79 21.21% 13.39% 1.54 1.50% 1.
Retail (Distributors) 69 1.28 39.57% 13.59% 0.98 2.25% 1.
Retail (General) 15 1.36 19.97% 21.26% 1.19 2.82% 1.
Retail (Grocery and Food) 13 0.67 65.82% 16.45% 0.45 5.54% 0.
Retail (Online) 63 1.49 19.17% 4.09% 1.30 4.12% 1.
Retail (Special Lines) 78 1.48 39.16% 15.02% 1.14 4.00% 1.
Rubber& Tires 3 0.84 330.33% 0.00% 0.24 9.97% 0.
Semiconductor 68 1.61 11.27% 8.18% 1.48 3.37% 1.
Semiconductor Equip 30 1.76 11.79% 10.94% 1.61 4.43% 1.
Shipbuilding & Marine 8 0.94 39.02% 6.23% 0.73 6.44% 0.
Shoe 13 1.33 9.01% 10.70% 1.24 3.50% 1.
Software (Entertainment) 91 1.36 4.80% 3.82% 1.32 3.07% 1.
Software (Internet) 33 1.55 17.66% 2.37% 1.37 3.29% 1.
Software (System & Application) 390 1.47 9.36% 3.40% 1.37 2.81% 1.
Steel 28 1.34 28.60% 14.95% 1.11 8.84% 1.
Telecom (Wireless) 16 1.03 65.15% 3.83% 0.69 2.64% 0.
Telecom. Equipment 79 1.23 11.68% 4.06% 1.13 3.79% 1.
Telecom. Services 49 0.88 117.72% 6.54% 0.47 1.13% 0.
Tobacco 15 2.00 24.06% 9.83% 1.69 2.84% 1.
Transportation 18 1.06 29.51% 16.39% 0.87 6.28% 0.
Transportation (Railroads) 4 1.11 27.45% 16.57% 0.92 1.47% 0.
Trucking 35 1.55 43.91% 14.79% 1.16 5.72% 1.
Utility (General) 15 0.64 74.18% 13.20% 0.41 0.33% 0.
Utility (Water) 16 1.15 43.40% 8.45% 0.87 0.35% 0.
Total Market 7165 1.16 53.52% 7.52% 0.83 6.66% 0.
Total Market (without financials) 5649 1.29 26.40% 6.38% 1.08 3.75% 1.

Last Updated in January 2023

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