Betas

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http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/Betas.html

Betas by Sector
Data Used: Value Line database, of 6177 firms
Date of Analysis: Data used is as of January 2013

can be obtained by clicking here

on which companies are included in each industry

Industry Name

Number of Firms

Average Beta

Market D/E Ra o

Tax Rate

Unlevered Beta

Cash/Firm Value

Unlevered Beta corrected for cash

Advertising
Aerospace/Defense

32
66

1.68
0.98

40.84%
26.64%

16.02%
20.08%

1.25
0.81

13.12%
11.74%

1.44
0.92

Air Transport
Apparel
Auto Parts

36
54
54

1.03
1.36
1.76

59.08%
13.77%
24.37%

21.35%
18.57%
18.77%

0.70
1.23
1.47

14.13%
5.13%
11.65%

0.82
1.29
1.66

Automotive
Bank
Bank (Midwest)

12
416
68

1.73
0.77
0.89

103.42%
128.23%
49.85%

16.24%
16.39%
20.99%

0.93
0.37
0.64

16.84%
16.43%
15.03%

1.11
0.45
0.76

Beverage
Biotechnology

35
214

0.95
1.23

22.29%
15.92%

18.82%
2.98%

0.80
1.07

4.33%
18.10%

0.84
1.30

43
20
18

1.57
1.40
1.37

65.24%
66.11%
24.73%

9.48%
21.23%
21.89%

0.99
0.92
1.15

6.18%
3.61%
7.52%

1.05
0.96
1.24

Building Materials
Cable TV
Chemical (Basic)
Chemical (Diversified)

33

1.55

16.69%

19.75%

1.37

6.96%

1.47

Chemical (Specialty)
Coal
Computer Software

70
20
191

1.18
1.47
0.98

20.53%
68.38%
6.55%

15.35%
11.27%
12.43%

1.00
0.91
0.92

4.58%
7.67%
16.59%

1.05
0.99
1.11

Computers/Peripherals
Diversified Co.
Drug
E-Commerce
Educational Services

81
113
223
64
33

1.37
1.22
1.08
1.05
0.91

9.70%
78.69%
14.79%
6.74%
24.73%

10.01%
17.18%
5.14%
10.52%
21.72%

1.26
0.74
0.94
0.99
0.76

9.78%
14.07%
8.25%
9.21%
30.24%

1.39
0.86
1.03
1.09
1.09

Electric Util. (Central)

Electric Utility (East)
Electric Utility (West)

20
17
15

0.57
0.43
0.58

85.00%
67.90%
81.37%

30.12%
33.49%
29.09%

0.36
0.29
0.37

1.03%
1.81%
1.88%

0.36
0.30
0.38

64
123
30
76
42
84
256
119
10
6
32
20
23
22
57
27
25
136
28
32
62
194
31
63
94
51
87
143
118
25
77
31
27
14
22

1.43
1.22
1.28
1.60
1.11
0.66
1.34
0.87
1.10
1.12
1.63
0.97
1.80
1.55
1.65
0.98
1.38
0.97
1.25
1.44
0.85
1.17
1.27
1.05
1.26
1.51
0.87
1.07
0.84
1.63
1.62
1.28
0.46
1.86
1.43

12.28%
22.46%
13.23%
33.87%
11.54%
43.07%
204.42%
23.50%
45.71%
49.48%
22.06%
11.62%
47.30%
49.57%
44.75%
18.11%
10.80%
36.56%
28.46%
55.85%
21.48%
2.29%
7.55%
5.72%
17.39%
181.21%
16.48%
12.89%
50.23%
23.59%
15.42%
41.08%
66.15%
39.29%
72.14%

16.15%
11.31%
25.00%
12.56%
11.01%
7.60%
16.23%
21.63%
23.12%
28.66%
16.69%
20.31%
22.74%
7.12%
17.52%
24.66%
26.61%
20.19%
18.33%
21.09%
10.73%
8.43%
2.26%
16.27%
22.73%
7.92%
12.60%
10.61%
17.72%
23.30%
11.24%
22.02%
28.80%
18.35%
22.66%

1.29
1.01
1.17
1.24
1.01
0.48
0.49
0.74
0.81
0.83
1.37
0.88
1.32
1.06
1.21
0.86
1.28
0.75
1.01
1.00
0.71
1.15
1.18
1.00
1.11
0.57
0.76
0.96
0.59
1.38
1.42
0.97
0.31
1.41
0.91

10.95%
13.01%
16.52%
5.81%
24.21%
2.45%
12.46%
3.74%
27.40%
2.94%
6.52%
10.06%
9.15%
15.14%
6.43%
2.52%
12.49%
9.21%
3.48%
28.90%
20.86%
12.04%
2.64%
10.31%
6.04%
6.05%
7.36%
13.33%
10.82%
11.91%
7.45%
4.36%
2.41%
5.91%
13.12%

1.45
1.17
1.40
1.31
1.33
0.49
0.56
0.77
1.12
0.85
1.47
0.98
1.45
1.25
1.29
0.88
1.46
0.83
1.05
1.41
0.90
1.31
1.21
1.11
1.18
0.60
0.82
1.10
0.66
1.56
1.54
1.01
0.32
1.50
1.05

Electrical Equipment
Electronics
Engineering & Const
Entertainment
Entertainment Tech
Environmental
Financial Svcs. (Div.)
Food Processing
Foreign Electronics
Funeral Services
Furn/Home Furnishings
Healthcare Information
Heavy Truck & Equip
Homebuilding
Hotel/Gaming
Household Products
Human Resources
Industrial Services
Information Services
Insurance (Life)
Insurance (Prop/Cas.)
Internet
Investment Companies
IT Services
Machinery
Maritime
Med Supp Invasive
Med Supp Non-Invasive
Medical Services
Metal Fabricating
Metals & Mining (Div.)
Natural Gas (Div.)
Natural Gas Utility
Newspaper
Office Equip/Supplies

07-03-2013 12:29

Betas

2 de 2

http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/Betas.html

Oil/Gas Distribution

12

1.02

53.39%

18.11%

0.71

1.26%

0.72

Oilfield Svcs/Equip.
Packaging & Container
Paper/Forest Products

81
27
32

1.66
1.20
1.37

27.72%
56.17%
43.01%

18.20%
23.09%
11.43%

1.35
0.84
0.99

6.40%
5.10%
7.35%

1.45
0.88
1.07

Petroleum (Integrated)
Petroleum (Producing)
Pharmacy Services

26
176
18

1.17
1.45
1.17

20.47%
28.12%
18.88%

30.34%
11.71%
23.18%

1.02
1.16
1.02

7.03%
3.81%
5.11%

1.10
1.21
1.07

Pipeline MLPs
Power
Precious Metals

53
101
83

0.74
1.35
1.03

44.37%
163.45%
13.65%

4.30%
6.19%
11.13%

0.52
0.53
0.92

0.74%
7.85%
7.93%

0.52
0.58
1.00

82
31
12

1.27
1.30
2.02

21.21%
112.58%
28.73%

14.13%
16.50%
19.17%

1.07
0.67
1.64

11.37%
8.37%
15.39%

1.21
0.73
1.94

29
127

1.17
1.43

36.14%
37.01%

22.69%
0.04%

0.92
1.04

4.97%
6.78%

0.96
1.12

Railroad

12

1.32

23.46%

28.60%

1.13

1.69%

1.15

Recreation
Reinsurance
Restaurant

51
11
65

1.45
0.82
1.16

37.75%
18.90%
13.15%

20.31%
3.58%
19.23%

1.11
0.69
1.05

5.79%
24.61%
3.42%

1.18
0.91
1.08

Retail (Hardlines)
Retail (Softlines)

79
42

1.79
1.43

26.01%
5.59%

22.55%
25.57%

1.49
1.37

9.96%
8.96%

1.65
1.51

Retail Automotive
Retail Building Supply
Retail Store

19
10
38

1.39
1.11
1.29

44.33%
11.72%
25.58%

32.69%
25.56%
24.83%

1.07
1.02
1.08

2.50%
1.97%
4.67%

1.10
1.04
1.14

Retail/Wholesale Food
Securities Brokerage
Semiconductor
Semiconductor Equip
Shoe
Steel
Telecom. Equipment
Telecom. Services
Telecom. Utility
Thrift
Tobacco
Toiletries/Cosmetics
Trucking
Water Utility
Wireless Networking
Total Market

30
27
142
10
17
33
105
76
23
170
11
14
34
11
58
6177

0.68
1.07
1.49
1.79
1.26
1.65
1.07
1.15
0.92
0.68
0.86
1.17
1.09
0.49
1.35
1.17

34.84%
264.59%
10.06%
16.98%
1.94%
56.21%
13.31%
31.82%
108.25%
19.50%
18.87%
20.63%
42.33%
73.18%
25.67%
42.92%

31.18%
30.41%
11.71%
15.21%
19.89%
24.24%
14.01%
16.22%
26.94%
15.84%
32.82%
27.33%
25.94%
31.45%
10.06%
14.93%

0.55
0.38
1.37
1.57
1.24
1.16
0.96
0.91
0.51
0.58
0.76
1.01
0.83
0.33
1.10
0.86

5.46%
43.53%
14.48%
21.91%
8.93%
8.82%
30.13%
8.92%
3.31%
25.18%
3.21%
6.80%
5.15%
0.54%
6.00%
10.66%

0.58
0.66
1.60
2.01
1.37
1.27
1.37
1.00
0.53
0.78
0.79
1.09
0.87
0.33
1.17
0.96

Precision Instrument
Property Management
Public/Private Equity
Publishing
R.E.I.T.

Last Updated in January 2013

By Aswath Damodaran

07-03-2013 12:29