industry averages financial ratios

Industry averages (US)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA

10

Industry nameNumber of firms

Avg Annual

Rev Growth:

Last 5 years

COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of

Revenue

Industry nameAverage Effective

Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of

Equity

Equity (Levered)

Beta

Cost of Equity

Industry nameStd Dev'n in Stock

Prices

Pre-tax Cost of

Debt

Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

11 Advertising 31 4.60% 52.63% 35.93% 11.44% 3.05% -12.79% Advertising 16.81% 1.13 8.67% 1.30 9.54% Advertising 83.02% 5.54% 26.35% 7.90% 65.96% Advertising 1.67 10.91 14.64 3.24 23.81 Advertising

12 Aerospace/Defense 66 12.33% 82.00% 8.01% 9.99% 3.59% 5.12% Aerospace/Defense 23.03% 0.87 7.39% 0.92 7.62% Aerospace/Defense 44.75% 4.04% 16.46% 6.77% 38.94% Aerospace/Defense 1.31 10.54 13.08 4.58 18.98 Aerospace/Defense

13 Air Transport 35 6.51% 77.46% 14.50% 8.04% 8.06% -10.55% Air Transport 26.03% 0.92 7.64% 1.07 8.37% Air Transport 63.96% 4.54% 30.31% 6.66% 48.91% Air Transport 1.01 7.89 12.56 5.00 20.19 Air Transport

14 Apparel 46 7.48% 55.91% 33.39% 10.70% 2.92% 16.47% Apparel 18.85% 1.17 8.90% 1.20 9.06% Apparel 67.00% 5.04% 8.57% 8.54% 62.44% Apparel 2.08 15.70 19.42 4.60 27.98 Apparel

15 Auto Parts 54 0.90% 83.49% 9.63% 6.88% 4.07% 7.47% Auto Parts 17.88% 1.50 10.56% 1.66 11.35% Auto Parts 51.50% 4.54% 18.11% 9.78% 44.16% Auto Parts 0.93 9.56 13.48 2.90 18.33 Auto Parts

16 Automotive 11 9.66% 81.60% 11.85% 6.55% 6.00% 21.29% Automotive 17.79% 1.14 8.72% 1.70 11.52% Automotive 49.51% 4.04% 46.62% 7.28% 32.06% Automotive 0.98 8.76 15.02 1.59 13.60 Automotive

17 Bank 375 0.00% NA NA NA NA NA Bank 17.91% 0.62 6.14% 0.88 7.45% Bank 43.18% 4.04% 45.74% 5.15% 28.22% Bank NA 5.40 5.40 1.21 14.83 Bank

18 Bank (Midwest) 86 0.00% NA NA NA NA NA Bank (Midwest) 21.88% 0.86 7.34% 0.95 7.80% Bank (Midwest) 32.12% 4.04% 24.39% 6.49% 26.00% Bank (Midwest) NA 5.43 5.43 1.59 15.44 Bank (Midwest)

19 Beverage 36 3.24% 45.47% 34.06% 20.46% 5.43% 4.26% Beverage 17.04% 0.71 6.61% 0.81 7.08% Beverage 47.98% 4.04% 18.12% 6.24% 41.13% Beverage 3.59 14.36 17.56 4.79 21.00 Beverage

20 Biotechnology 232 23.92% 22.26% 55.46% 22.27% 5.02% 7.95% Biotechnology 2.63% 1.27 9.41% 1.24 9.22% Biotechnology 83.67% 5.54% 11.16% 8.56% 76.27% Biotechnology 8.17 28.37 36.70 6.46 NA Biotechnology

21 Building Materials 42 4.86% 83.22% 16.23% 0.55% 3.33% 8.14% Building Materials 11.27% 1.28 9.46% 1.69 11.50% Building Materials 76.77% 5.04% 30.25% 8.94% 58.75% Building Materials 1.64 26.98 298.53 2.42 NA Building Materials

22

Industry nameNumber

of firms

Avg Annual

Rev

Growth: Last 5 years

COGS as

% of Revenue

SG&A as

% of Revenues

EBIT as

% of Revenue

Capex as

% of Revenue

Non-cash WC as %

of Revenue

Industry name

Average

Effective Tax Rate

Asset

(Unlevered) Beta

Unlevered

Cost of Equity

Equity

(Levered) Beta

Cost of

EquityIndustry name

Std Dev'n

in Stock Prices

Pre-tax

Cost of Debt

Market

Debt/Capital

Cost of

Capital

Asset

VolatilityIndustry name

EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

23 Cable TV 18 8.74% 70.75% 10.11% 19.14% 12.51% -8.88% Cable TV 20.75% 0.71 6.59% 0.96 7.83% Cable TV 37.32% 4.04% 35.25% 5.92% 27.18% Cable TV 2.62 8.03 13.68 5.24 22.50 Cable TV

24 Chemical (Basic) 18 -6.24% 76.02% 9.83% 14.15% 7.66% 14.69% Chemical (Basic) 21.56% 1.20 9.03% 1.32 9.63% Chemical (Basic) 38.16% 4.04% 18.89% 8.27% 32.49% Chemical (Basic) 1.59 8.37 11.25 2.76 14.09 Chemical (Basic)

25 Chemical (Diversified) 32 9.02% 69.48% 14.80% 15.73% 6.58% 16.18% Chemical (Diversified) 21.15% 1.24 9.24% 1.32 9.62% Chemical (Diversified) 44.72% 4.04% 14.84% 8.56% 39.48% Chemical (Diversified) 2.07 10.11 13.16 3.47 21.70 Chemical (Diversified)

26 Chemical (Specialty) 73 11.69% 74.61% 13.73% 11.66% 4.95% 13.88% Chemical (Specialty) 15.52% 1.03 8.17% 1.13 8.71% Chemical (Specialty) 60.60% 4.54% 16.36% 7.73% 52.78% Chemical (Specialty) 1.71 10.92 14.68 3.91 19.15 Chemical (Specialty)

27 Coal 19 5.79% 84.97% 4.83% 10.20% 14.52% 7.03% Coal 9.47% 0.89 7.51% 1.44 10.26% Coal 46.07% 4.04% 43.67% 6.84% 30.77% Coal 1.40 6.97 13.73 1.43 NA Coal

28 Computer Software 181 10.34% 28.13% 44.94% 26.93% 2.99% -11.17% Computer Software 13.43% 0.90 7.54% 0.85 7.28% Computer Software 67.14% 5.04% 7.05% 6.98% 63.37% Computer Software 4.09 12.98 15.20 4.28 22.56 Computer Software

29 Computers/Peripherals 68 -0.77% 64.69% 19.43% 15.88% 3.76% -0.65% Computers/Peripherals 7.63% 1.29 9.51% 1.28 9.45% Computers/Peripherals 77.26% 5.04% 7.89% 8.95% 72.42% Computers/Peripherals 1.67 8.69 10.53 4.06 16.09 Computers/Peripherals

30 Diversified Co. 123 11.32% 73.36% 13.46% 13.18% 5.05% 47.81% Diversified Co. 20.27% 0.88 7.45% 1.15 8.79% Diversified Co. 57.21% 4.54% 37.79% 6.50% 40.61% Diversified Co. 2.18 12.68 16.55 2.91 19.57 Diversified Co.

31 Drug 199 23.48% 31.89% 42.46% 25.65% 3.86% 8.29% Drug 5.89% 0.99 8.00% 1.04 8.25% Drug 84.78% 5.54% 11.62% 7.67% 76.97% Drug 4.06 11.84 15.82 3.85 21.67 Drug

32

Industry nameNumber

of firms

Avg Annual

Rev


COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of Revenue


Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of

Equity

Equity (Levered)

Beta

Cost of

EquityIndustry name

Std Dev'n in Stock

Prices

Pre-tax Cost of

Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

33 E-Commerce 66 13.83% 49.31% 38.51% 12.17% 7.52% -9.13% E-Commerce 10.24% 0.82 7.12% 0.82 7.13% E-Commerce 72.45% 5.04% 7.30% 6.83% 68.24% E-Commerce 6.01 30.97 49.33 6.33 72.59 E-Commerce

34 Educational Services 33 3.59% 48.91% 38.39% 12.70% 4.11% -4.01% Educational Services 21.44% 0.85 7.30% 0.78 6.93% Educational Services 81.04% 5.54% 12.53% 6.47% 73.00% Educational Services 1.02 5.95 8.02 2.93 17.99 Educational Services

35 Electric Util. (Central) 20 -2.25% 78.41% 3.01% 18.58% 23.55% 8.30% Electric Util. (Central) 28.85% 0.35 4.80% 0.55 5.77% Electric Util. (Central) 14.80% 3.54% 44.44% 4.15% 9.81% Electric Util. (Central) 2.61 8.51 14.04 1.62 15.76 Electric Util. (Central)

36 Electric Utility (East) 17 -9.80% 79.99% 0.00% 20.00% 28.77% 7.10% Electric Utility (East) 31.06% 0.26 4.32% 0.39 4.99% Electric Utility (East) 13.08% 3.54% 44.17% 3.73% 8.69% Electric Utility (East) 3.09 9.56 15.46 1.54 17.08 Electric Utility (East)

37 Electric Utility (West) 15 -5.02% 81.85% 1.27% 16.88% 27.46% -0.48% Electric Utility (West) 28.24% 0.37 4.87% 0.54 5.76% Electric Utility (West) 14.11% 3.54% 41.24% 4.26% 9.67% Electric Utility (West) 2.46 8.32 14.60 1.54 15.79 Electric Utility (West)

38 Electrical Equipment 60 -2.61% 72.16% 21.10% 6.74% 4.34% 14.57% Electrical Equipment 16.78% 1.34 9.76% 1.35 9.77% Electrical Equipment 67.15% 5.04% 10.49% 9.06% 61.56% Electrical Equipment 1.91 18.40 28.29 2.89 21.52 Electrical Equipment

39 Electronics 99 5.20% 82.99% 11.05% 5.97% 2.22% 11.76% Electronics 11.65% 1.10 8.52% 1.14 8.74% Electronics 75.34% 5.04% 15.50% 7.85% 66.12% Electronics 0.83 9.61 13.95 2.41 19.42 Electronics

40 Engineering & Const 30 13.10% 89.85% 4.96% 5.19% 1.51% 5.90% Engineering & Const 19.88% 1.15 8.78% 1.10 8.56% Engineering & Const 56.11% 4.54% 10.59% 7.95% 51.40% Engineering & Const 0.61 9.17 11.81 2.26 18.53 Engineering & Const

41 Entertainment 67 9.04% 63.94% 14.42% 21.64% 4.57% 4.36% Entertainment 14.87% 1.18 8.95% 1.33 9.71% Entertainment 61.01% 4.54% 16.95% 8.52% 52.86% Entertainment 3.31 12.88 15.27 3.50 23.38 Entertainment

42


Avg Annual

Rev Growth:

Last 5 years

COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of

Revenue


Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of

Equity

Equity (Levered)

Beta

Cost of Equity


Prices

Pre-tax Cost of

Debt

Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

43 Entertainment Tech 36 5.45% 40.32% 44.84% 14.84% 3.53% -7.70% Entertainment Tech 11.45% 1.33 9.71% 1.06 8.35% Entertainment Tech 49.47% 4.04% 6.01% 8.00% 47.11% Entertainment Tech 1.96 10.01 13.18 1.92 24.76 Entertainment Tech

44 Environmental 61 16.24% 73.54% 12.23% 14.23% 9.36% 2.22% Environmental 10.82% 0.34 4.74% 0.45 5.31% Environmental 77.98% 5.04% 28.42% 4.66% 60.74% Environmental 2.36 10.35 16.55 2.56 26.35 Environmental

45 Financial Svcs. (Div.) 225 19.02% 9.41% 41.83% 48.76% 3.41% 37.15% Financial Svcs. (Div.) 16.74% 0.95 7.77% 1.19 8.98% Financial Svcs. (Div.) 54.62% 4.54% 35.09% 6.79% 39.84% Financial Svcs. (Div.) 5.48 10.58 11.24 2.36 21.60 Financial Svcs. (Div.)

46 Food Processing 104 6.58% 72.26% 18.51% 9.23% 3.45% 7.06% Food Processing 21.85% 0.76 6.84% 0.85 7.29% Food Processing 51.38% 4.54% 17.03% 6.52% 44.48% Food Processing 1.40 12.04 15.15 3.27 20.25 Food Processing

47 Foreign Electronics 10 -9.48% 68.41% 27.03% 4.56% 4.86% 3.84% Foreign Electronics 31.10% 1.15 8.78% 1.11 8.57% Foreign Electronics 29.83% 4.04% 24.76% 7.05% 24.06% Foreign Electronics 0.54 5.39 11.74 1.21 NA Foreign Electronics

48 Funeral Services 6 6.73% 72.15% 13.13% 14.72% 3.96% 3.82% Funeral Services 27.80% 0.81 7.08% 1.01 8.11% Funeral Services 25.91% 4.04% 28.09% 6.51% 20.24% Funeral Services 2.24 11.69 15.25 2.87 23.53 Funeral Services

49 Furn/Home Furnishings 28 2.97% 70.02% 23.14% 6.84% 2.53% 14.14% Furn/Home Furnishings 19.54% 1.33 9.70% 1.39 10.01% Furn/Home Furnishings 45.61% 4.04% 12.04% 9.10% 41.26% Furn/Home Furnishings 1.34 14.07 19.64 2.95 30.21 Furn/Home Furnishings

50 Healthcare Information 19 7.12% 42.08% 44.24% 13.68% 5.39% 4.53% Healthcare Information 18.01% 1.08 8.42% 1.07 8.37% Healthcare Information 54.31% 4.54% 7.71% 7.93% 50.98% Healthcare Information 4.74 21.11 34.62 5.37 70.26 Healthcare Information

51 Heavy Truck & Equip 21 3.93% 76.66% 12.47% 10.87% 4.68% 20.83% Heavy Truck & Equip 20.13% 1.46 10.32% 1.79 12.01% Heavy Truck & Equip 39.16% 4.04% 29.49% 9.18% 30.19% Heavy Truck & Equip 1.14 8.23 10.51 3.58 12.31 Heavy Truck & Equip

52 Homebuilding 25 14.61% 106.32% 11.30% -17.62% 0.55% 80.09% Homebuilding 7.09% 1.40 10.04% 1.79 11.98% Homebuilding 41.47% 4.04% 35.22% 8.61% 30.21% Homebuilding 1.84 NA NA 2.25 30.72 Homebuilding

53

Industry nameNumber

of firms

Avg Annual

Rev


COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of Revenue


Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of

Equity

Equity (Levered)

Beta

Cost of

EquityIndustry name

Std Dev'n in Stock

Prices

Pre-tax Cost of

Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

54 Hotel/Gaming 53 15.36% 68.66% 16.14% 15.20% 7.30% -5.77% Hotel/Gaming 14.48% 1.14 8.75% 1.49 10.47% Hotel/Gaming 58.46% 4.54% 30.65% 8.10% 44.56% Hotel/Gaming 3.10 13.81 20.37 5.45 55.84 Hotel/Gaming

55 Household Products 26 7.33% 53.64% 29.43% 16.93% 4.10% 4.05% Household Products 23.88% 0.86 7.35% 0.94 7.75% Household Products 40.37% 4.04% 13.70% 7.02% 35.99% Household Products 2.65 13.13 15.63 4.38 20.42 Household Products

56 Human Resources 25 7.68% 79.88% 16.97% 3.15% 0.62% 5.30% Human Resources 25.63% 1.50 10.53% 1.47 10.40% Human Resources 50.44% 4.54% 8.33% 9.76% 47.10% Human Resources 0.52 13.14 16.57 3.20 29.59 Human Resources

57 Industrial Services 122 6.30% 78.20% 11.58% 10.23% 7.52% 8.77% Industrial Services 20.04% 0.68 6.42% 0.93 7.68% Industrial Services 58.23% 4.54% 37.91% 5.80% 41.28% Industrial Services 1.56 11.24 15.25 2.35 22.70 Industrial Services

58 Information Services 29 10.26% 58.90% 21.46% 19.64% 4.13% 4.22% Information Services 17.00% 1.02 8.15% 1.14 8.73% Information Services 55.92% 4.54% 16.06% 7.76% 48.83% Information Services 4.05 14.48 20.62 5.10 25.60 Information Services

59 Insurance (Life) 31 0.00% NA NA NA NA NA Insurance (Life) 20.49% 1.66 11.33% 1.62 11.14% Insurance (Life) 29.38% 4.04% 26.98% 8.79% 23.20% Insurance (Life) NA 1.51 1.51 1.03 12.97 Insurance (Life)

Page 1 of 5

60 Insurance (Prop/Cas.) 66 4.96% NA NA NA NA NA Insurance (Prop/Cas.) 12.62% 0.81 7.08% 0.81 7.09% Insurance (Prop/Cas.) 27.38% 4.04% 17.91% 6.25% 23.52% Insurance (Prop/Cas.) NA NA NA 1.36 15.49 Insurance (Prop/Cas.)

61 Internet 145 18.48% 51.40% 34.35% 14.24% 6.77% -5.45% Internet 11.27% 1.02 8.16% 0.95 7.77% Internet 90.80% 6.04% 2.34% 7.67% 89.11% Internet 5.57 27.77 39.09 6.83 56.41 Internet

62 Investment Co. 16 32.20% 28.96% 38.25% 32.79% 5.40% -9.95% Investment Co. 21.82% 1.47 10.40% 1.19 9.01% Investment Co. 66.00% 5.04% 5.35% 8.69% 63.19% Investment Co. 3.05 8.17 9.31 3.92 14.41 Investment Co.

63

Industry nameNumber

of firms

Avg Annual

Rev


COGS as

% of Revenue

SG&A as

% of Revenues

EBIT as

% of Revenue

Capex as

% of Revenue

Non-cash WC as %

of Revenue

Industry name

Average

Effective Tax Rate

Asset

(Unlevered) Beta

Unlevered

Cost of Equity

Equity

(Levered) Beta

Cost of

EquityIndustry name

Std Dev'n

in Stock Prices

Pre-tax

Cost of Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

64 IT Services 55 3.33% 69.23% 17.10% 13.66% 2.30% 3.97% IT Services 18.61% 0.94 7.74% 0.90 7.56% IT Services 51.20% 4.54% 5.29% 7.31% 49.04% IT Services 2.13 12.62 15.60 5.20 22.36 IT Services

65 Machinery 82 3.47% 66.91% 20.58% 12.51% 4.19% 16.45% Machinery 24.47% 1.09 8.48% 1.19 8.99% Machinery 47.09% 4.04% 16.62% 7.90% 40.92% Machinery 1.92 11.60 15.31 3.24 23.60 Machinery

66 Maritime 51 -7.04% 81.87% 7.29% 10.84% 19.40% 4.26% Maritime 5.99% 0.71 6.58% 1.48 10.46% Maritime 75.61% 5.04% 57.16% 6.21% 43.68% Maritime 2.99 12.20 27.61 1.20 NA Maritime

67 Med Supp Invasive 74 1.14% 37.20% 39.77% 23.03% 4.62% 28.87% Med Supp Invasive 15.02% 0.92 7.64% 0.97 7.87% Med Supp Invasive 55.16% 4.54% 12.93% 7.20% 49.52% Med Supp Invasive 3.13 10.99 13.61 3.32 18.61 Med Supp Invasive

68 Med Supp Non-Invasive 127 11.25% 80.01% 12.22% 7.77% 1.32% 3.19% Med Supp Non-Invasive 11.14% 0.87 7.41% 0.88 7.45% Med Supp Non-Invasive 62.14% 4.54% 9.09% 7.02% 57.65% Med Supp Non-Invasive 1.11 11.73 14.28 3.92 21.77 Med Supp Non-Invasive

69 Medical Services 106 8.35% 76.16% 13.27% 10.56% 2.19% -0.97% Medical Services 18.76% 0.73 6.68% 0.91 7.60% Medical Services 72.79% 5.04% 31.09% 6.18% 55.25% Medical Services 0.92 7.18 8.72 2.55 15.66 Medical Services

70 Metal Fabricating 25 0.74% 70.80% 15.51% 13.69% 4.10% 17.60% Metal Fabricating 16.65% 1.31 9.60% 1.41 10.07% Metal Fabricating 57.52% 4.54% 15.91% 8.90% 50.29% Metal Fabricating 1.71 9.92 12.49 2.88 18.01 Metal Fabricating

71 Metals & Mining (Div.) 71 2.64% 72.70% 3.05% 24.25% 23.72% 4.31% Metals & Mining (Div.) 11.84% 1.22 9.16% 1.39 9.98% Metals & Mining (Div.) 82.87% 5.54% 19.45% 8.68% 70.20% Metals & Mining (Div.) 2.17 6.71 8.96 1.93 12.10 Metals & Mining (Div.)

72 Natural Gas (Div.) 30 -4.25% 71.56% 9.84% 18.59% 79.63% -4.32% Natural Gas (Div.) 19.04% 1.04 8.25% 1.29 9.51% Natural Gas (Div.) 43.11% 4.04% 26.18% 7.66% 34.31% Natural Gas (Div.) 4.09 8.25 22.00 2.00 29.06 Natural Gas (Div.)

73

Industry nameNumber

of firms

Avg Annual

Rev


COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of Revenue


Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of

Equity

Equity (Levered)

Beta

Cost of

EquityIndustry name

Std Dev'n in Stock

Prices

Pre-tax Cost of

Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

74 Natural Gas Utility 26 -7.97% 69.52% 18.53% 11.95% 16.90% 6.00% Natural Gas Utility 25.74% 0.40 5.02% 0.56 5.83% Natural Gas Utility 29.29% 4.04% 37.22% 4.56% 20.91% Natural Gas Utility 2.12 11.43 17.75 2.30 28.14 Natural Gas Utility

75 Newspaper 12 2.29% 54.56% 32.14% 13.30% 2.93% -3.10% Newspaper 29.11% 1.90 12.52% 2.01 13.08% Newspaper 42.63% 4.04% 16.94% 11.27% 36.94% Newspaper 2.13 11.17 15.98 3.48 16.53 Newspaper

76 Office Equip/Supplies 18 0.49% 69.92% 23.11% 6.97% 1.86% 6.63% Office Equip/Supplies 22.90% 0.94 7.73% 1.14 8.72% Office Equip/Supplies 56.56% 4.54% 31.65% 6.82% 42.69% Office Equip/Supplies 0.66 6.33 9.43 1.67 11.86 Office Equip/Supplies

77 Oil/Gas Distribution 11 -2.80% 79.69% 7.76% 12.54% 15.36% 0.10% Oil/Gas Distribution 17.33% 0.67 6.40% 1.01 8.11% Oil/Gas Distribution 37.38% 4.04% 39.32% 5.88% 26.13% Oil/Gas Distribution 2.49 13.84 19.83 2.71 28.77 Oil/Gas Distribution

78 Oilfield Svcs/Equip. 80 14.20% 76.81% 7.18% 16.01% 15.99% 18.95% Oilfield Svcs/Equip. 19.53% 1.29 9.49% 1.47 10.37% Oilfield Svcs/Equip. 53.47% 4.54% 20.69% 8.79% 44.79% Oilfield Svcs/Equip. 2.16 8.89 13.50 1.99 18.49 Oilfield Svcs/Equip.

79 Packaging & Container 26 2.70% 80.07% 10.31% 9.62% 4.53% 8.87% Packaging & Container 23.58% 0.87 7.39% 1.09 8.48% Packaging & Container 44.69% 4.04% 28.58% 6.75% 34.75% Packaging & Container 1.29 9.05 13.43 3.35 20.07 Packaging & Container

80 Paper/Forest Products 29 5.05% 83.36% 7.93% 8.71% 4.86% 11.49% Paper/Forest Products 12.27% 0.93 7.67% 1.17 8.91% Paper/Forest Products 43.52% 4.04% 27.43% 7.13% 34.22% Paper/Forest Products 1.32 8.97 15.10 2.46 NA Paper/Forest Products

81 Petroleum (Integrated) 28 20.39% 84.75% 4.62% 10.63% 8.91% 2.42% Petroleum (Integrated) 30.70% 1.01 8.08% 1.07 8.38% Petroleum (Integrated) 47.09% 4.04% 17.47% 7.34% 40.61% Petroleum (Integrated) 0.67 4.62 6.34 1.44 9.54 Petroleum (Integrated)

82 Petroleum (Producing) 168 7.01% 71.46% 4.31% 24.23% 32.19% 1.49% Petroleum (Producing) 13.09% 1.23 9.20% 1.48 10.42% Petroleum (Producing) 72.91% 5.04% 21.52% 8.83% 60.60% Petroleum (Producing) 1.94 5.04 8.00 1.62 15.94 Petroleum (Producing)

83 Pharmacy Services 16 13.34% 81.45% 13.80% 4.76% 1.28% 2.36% Pharmacy Services 23.64% 0.90 7.53% 1.00 8.05% Pharmacy Services 55.91% 4.54% 15.78% 7.21% 48.95% Pharmacy Services 0.76 11.70 15.88 2.48 24.40 Pharmacy Services

84

Industry nameNumber

of firms

Avg Annual

Rev


COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of Revenue


Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of

Equity

Equity (Levered)

Beta

Cost of

EquityIndustry name

Std Dev'n in Stock

Prices

Pre-tax Cost of

Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

85 Pipeline MLPs 62 -1.75% 88.26% 3.09% 8.65% 11.15% 0.00% Pipeline MLPs 5.50% 0.41 5.08% 0.56 5.85% Pipeline MLPs 22.33% 3.54% 29.46% 4.75% 17.22% Pipeline MLPs 2.12 16.96 24.45 3.18 25.58 Pipeline MLPs

86 Power 92 -2.13% 85.42% 6.83% 7.75% 17.19% 6.06% Power 8.99% 0.73 6.69% 1.50 10.53% Power 88.17% 5.54% 57.27% 6.40% 50.88% Power 1.72 9.78 22.23 1.11 NA Power

87 Precious Metals 74 14.61% 59.39% 8.63% 31.98% 42.70% 10.36% Precious Metals 10.50% 0.73 6.68% 0.83 7.19% Precious Metals 66.24% 5.04% 25.52% 6.13% 53.05% Precious Metals 2.03 4.55 6.34 0.77 8.85 Precious Metals

88 Precision Instrument 76 -3.49% 54.74% 29.23% 16.03% 3.72% 19.51% Precision Instrument 13.41% 1.08 8.43% 1.12 8.65% Precision Instrument 57.51% 4.54% 13.23% 7.86% 51.49% Precision Instrument 2.66 12.13 16.62 2.96 23.34 Precision Instrument

89 Public/Private Equity 20 14.68% 49.63% 17.28% 33.10% 1.76% 10.04% Public/Private Equity 20.12% 1.58 10.93% 1.67 11.40% Public/Private Equity 33.66% 4.04% 21.60% 9.46% 27.96% Public/Private Equity 3.21 8.95 9.70 1.62 6.78 Public/Private Equity

90 Publishing 21 -3.12% 65.41% 26.49% 8.10% 4.17% 12.31% Publishing 23.36% 0.92 7.64% 1.13 8.70% Publishing 54.21% 4.54% 26.84% 7.09% 42.87% Publishing 1.44 10.62 17.80 3.52 46.87 Publishing

91 R.E.I.T. 131 -5.51% 13.11% 6.71% 80.18% 8.72% 0.52% R.E.I.T. 0.50% 0.98 7.95% 1.35 9.77% R.E.I.T. 29.77% 4.04% 30.52% 7.53% 22.72% R.E.I.T. 7.13 7.71 8.89 1.26 11.65 R.E.I.T.

92 Railroad 13 12.09% 69.95% 0.55% 29.50% 19.49% -0.87% Railroad 30.96% 1.24 9.25% 1.40 10.03% Railroad 32.21% 4.04% 17.33% 8.71% 27.81% Railroad 3.98 10.43 13.48 3.60 19.50 Railroad

93 Recreation 53 10.80% 71.65% 16.13% 12.22% 7.33% -3.08% Recreation 20.89% 1.15 8.78% 1.37 9.87% Recreation 46.18% 4.04% 23.96% 8.08% 37.52% Recreation 2.03 11.30 16.58 2.53 23.26 Recreation

94


Avg Annual

Rev Growth:

Last 5 years

COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of

Revenue


Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of

Equity

Equity (Levered)

Beta

Cost of Equity


Prices

Pre-tax Cost of

Debt

Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

95 Reinsurance 12 0.00% NA NA NA NA NA Reinsurance 6.53% 0.90 7.55% 0.81 7.08% Reinsurance 20.86% 3.54% 13.79% 6.39% 18.59% Reinsurance NA 37.10 37.10 0.92 9.65 Reinsurance

96 Restaurant 67 1.40% 72.65% 11.04% 16.31% 7.70% -4.12% Restaurant 22.49% 0.94 7.72% 1.00 8.04% Restaurant 53.50% 4.54% 11.67% 7.42% 48.56% Restaurant 2.71 12.96 16.61 7.29 24.21 Restaurant

97 Retail (Hardlines) 69 10.42% 66.43% 24.88% 8.70% 7.58% 8.78% Retail (Hardlines) 23.83% 1.60 11.03% 1.68 11.44% Retail (Hardlines) 52.44% 4.54% 11.18% 10.46% 47.80% Retail (Hardlines) 1.87 15.81 21.50 6.80 34.01 Retail (Hardlines)

98 Retail (Softlines) 41 7.33% 62.65% 26.50% 10.85% 4.47% 3.26% Retail (Softlines) 26.53% 1.33 9.67% 1.27 9.41% Retail (Softlines) 56.84% 4.54% 4.77% 9.09% 54.68% Retail (Softlines) 1.27 9.12 11.69 5.72 21.18 Retail (Softlines)

99 Retail Automotive 19 11.71% 75.28% 17.89% 6.83% 2.51% 14.50% Retail Automotive 32.89% 1.04 8.22% 1.27 9.40% Retail Automotive 36.44% 4.04% 28.17% 7.43% 28.45% Retail Automotive 1.08 12.73 15.83 4.47 20.64 Retail Automotive

100 Retail Building Supply 10 8.37% 67.22% 23.44% 9.34% 2.03% 4.88% Retail Building Supply 24.71% 1.10 8.56% 1.17 8.90% Retail Building Supply 28.59% 4.04% 9.81% 8.27% 26.37% Retail Building Supply 1.51 12.95 16.19 5.64 25.38 Retail Building Supply

101 Retail Store 36 8.73% 76.24% 18.24% 5.53% 2.83% 0.79% Retail Store 23.46% 1.05 8.27% 1.18 8.95% Retail Store 40.98% 4.04% 18.54% 7.74% 35.00% Retail Store 0.65 8.65 11.83 3.24 17.34 Retail Store

102 Retail/Wholesale Food 32 10.91% 81.07% 15.15% 3.78% 2.36% 0.90% Retail/Wholesale Food 29.85% 0.68 6.43% 0.78 6.95% Retail/Wholesale Food 30.14% 4.04% 23.34% 5.90% 24.63% Retail/Wholesale Food 0.54 9.51 14.31 3.78 21.20 Retail/Wholesale Food

103 Securities Brokerage 30 -4.90% 63.63% 4.32% 32.05% 3.06% NA Securities Brokerage 24.32% 0.80 7.05% 1.18 8.95% Securities Brokerage 43.92% 4.04% 63.94% 4.78% 23.56% Securities Brokerage 4.35 12.02 13.58 1.35 22.36 Securities Brokerage

104


Avg

Annual Rev

Growth:

Last 5 years

COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of

Revenue

Industry nameAverage Effective Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of Equity

Equity (Levered)

Beta

Cost of Equity

Industry nameStd Dev'n in Stock Prices

Pre-tax Cost of Debt

Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

105 Semiconductor 136 -4.41% 51.53% 30.19% 18.28% 14.55% 9.22% Semiconductor 11.02% 1.44 10.22% 1.38 9.93% Semiconductor 49.52% 4.04% 9.85% 9.19% 45.65% Semiconductor 2.78 9.35 15.19 3.12 20.22 Semiconductor

106 Semiconductor Equip 10 2.12% 61.98% 27.67% 10.34% 6.65% 13.78% Semiconductor Equip 20.20% 1.88 12.42% 1.73 11.71% Semiconductor Equip 36.83% 4.04% 11.65% 10.63% 33.43% Semiconductor Equip 2.07 11.55 19.97 2.28 38.37 Semiconductor Equip

107 Shoe 12 5.03% 56.48% 32.35% 11.18% 2.55% 16.61% Shoe 23.43% 1.39 10.01% 1.32 9.62% Shoe 49.98% 4.04% 3.79% 9.34% 48.46% Shoe 2.06 15.75 18.40 5.11 26.30 Shoe

108 Steel 32 1.11% 91.63% 5.38% 2.99% 6.25% 20.26% Steel 26.96% 1.22 9.14% 1.66 11.36% Steel 39.65% 4.04% 38.89% 7.88% 27.83% Steel 0.84 10.62 27.92 0.94 41.46 Steel

109 Telecom. Equipment 91 1.39% 68.79% 31.36% -0.15% 2.92% -3.64% Telecom. Equipment 17.41% 1.27 9.39% 1.05 8.27% Telecom. Equipment 61.81% 4.54% 11.02% 7.66% 56.41% Telecom. Equipment 1.59 42.19 NA 2.40 19.08 Telecom. Equipment

110 Telecom. Services 61 6.10% 58.07% 22.07% 19.86% 15.62% -11.81% Telecom. Services 17.82% 0.90 7.54% 1.05 8.30% Telecom. Services 62.49% 4.54% 25.17% 6.90% 50.20% Telecom. Services 2.00 5.68 10.05 2.25 15.66 Telecom. Services

111 Telecom. Utility 24 0.01% 53.78% 30.27% 15.94% 13.96% -6.47% Telecom. Utility 19.76% 0.47 5.39% 0.77 6.87% Telecom. Utility 41.97% 4.04% 47.08% 4.77% 27.04% Telecom. Utility 1.86 5.42 11.68 2.38 13.57 Telecom. Utility

Avg Annual Non-cash

Page 2 of 5

Industry averages (Global)

112

Industry nameNumber

of firms

Rev Growth:

Last 5 years

COGS as

% of Revenue

SG&A as

% of Revenues

EBIT as

% of Revenue

Capex as

% of Revenue

WC as % of

RevenueIndustry name

Average

Effective Tax Rate

Asset

(Unlevered) Beta

Unlevered

Cost of Equity

Equity

(Levered) Beta

Cost of

EquityIndustry name

Std Dev'n

in Stock Prices

Pre-tax

Cost of Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

113 Thrift 170 0.00% NA NA NA NA NA Thrift 16.03% 0.79 7.01% 0.69 6.51% Thrift 34.84% 4.04% 8.01% 6.18% 32.62% Thrift NA 5.52 5.52 1.32 22.91 Thrift

114 Tobacco 11 20.51% 67.16% 9.83% 23.01% 1.41% -1.71% Tobacco 33.51% 0.81 7.07% 0.88 7.45% Tobacco 30.12% 4.04% 16.33% 6.63% 26.24% Tobacco 2.41 9.71 10.48 14.45 17.61 Tobacco

115 Toiletries/Cosmetics 15 4.78% 37.64% 51.85% 10.51% 3.20% 7.51% Toiletries/Cosmetics 29.96% 0.97 7.90% 1.03 8.18% Toiletries/Cosmetics 38.40% 4.04% 15.71% 7.27% 33.64% Toiletries/Cosmetics 1.73 12.81 16.48 7.13 30.43 Toiletries/Cosmetics

116 Trucking 31 1.26% 87.89% 4.26% 7.85% 10.95% 4.11% Trucking 27.33% 1.19 9.01% 1.40 10.05% Trucking 42.67% 4.04% 23.56% 8.26% 34.80% Trucking 1.06 7.72 13.47 4.02 26.32 Trucking

117 Water Utility 9 4.44% 65.98% 6.39% 27.63% 29.00% 5.96% Water Utility 34.28% 0.31 4.60% 0.45 5.27% Water Utility 14.75% 3.54% 40.25% 4.01% 10.21% Water Utility 4.34 10.65 15.69 1.97 20.53 Water Utility

118 Wireless Networking 53 11.83% 59.06% 33.37% 7.57% 7.70% 5.00% Wireless Networking 11.06% 0.93 7.69% 1.18 8.96% Wireless Networking 62.14% 4.54% 28.78% 7.17% 48.23% Wireless Networking 3.28 16.11 43.41 3.95 NA Wireless Networking

119 Total Market 5748 7.56% 66.35% 17.10% 16.56% 7.79% 6.22% Total Market 15.74% 0.96 7.83% 1.11 8.58% Total Market 56.51% 4.54% 24.55% 7.14% 45.66% Total Market 1.88 8.60 11.35 2.49 18.98 Total Market

120

Industry nameNumber

of firms

Avg Annual

Rev


COGS as

% of Revenue

SG&A as

% of Revenues

EBIT as

% of Revenue

Capex as

% of Revenue

Non-cash WC as %

of Revenue

Industry name

Average

Effective Tax Rate

Asset

(Unlevered) Beta

Unlevered

Cost of Equity

Equity

(Levered) Beta

Cost of

EquityIndustry name

Std Dev'n

in Stock Prices

Pre-tax

Cost of Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

121

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA

10

Industry nameNumber

of firms

Avg Annual

Rev


COGS as

% of Revenue

SG&A as

% of Revenues

EBIT as

% of Revenue

Capex as

% of Revenue

Non-cash WC as %

of Revenue

Industry name

Average

Effective Tax Rate

Asset

(Unlevered) Beta

Unlevered

Cost of Equity

Equity

(Levered) Beta

Cost of

EquityIndustry name

Std Dev'n

in Stock Prices

Pre-tax

Cost of Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

11 Advertising 243 5.04% 67.62% 24.08% 8.30% 2.04% -6.07% Advertising 17.09% 0.89 8.70% 1.03 9.56% Advertising 92.64% 6.94% 17.05% 8.75% 76.23% Advertising 1.60 12.97 16.45 2.92 24.54 Advertising

12 Aerospace/Defense 207 4.86% 80.12% 10.50% 9.38% 2.98% 19.67% Aerospace/Defense 13.25% 0.91 8.82% 1.00 9.36% Aerospace/Defense 83.42% 6.44% 15.45% 8.61% 72.17% Aerospace/Defense 1.40 11.53 14.66 3.71 19.98 Aerospace/Defense

13 Air Transport 157 7.67% 88.78% 6.12% 5.10% 9.63% -3.53% Air Transport 15.59% 0.60 6.83% 1.05 9.70% Air Transport 68.64% 5.94% 44.56% 7.23% 41.53% Air Transport 1.11 9.30 18.25 1.94 14.99 Air Transport

14 Apparel 1170 6.38% 60.85% 26.91% 12.24% 4.09% 23.27% Apparel 14.75% 0.82 8.27% 0.91 8.84% Apparel 80.76% 6.44% 13.31% 8.26% 70.06% Apparel 1.78 11.27 12.44 2.52 20.02 Apparel

15 Auto & Truck 129 6.71% 83.57% 10.72% 5.71% 6.88% 0.32% Auto & Truck 13.90% 0.85 8.44% 1.28 11.15% Auto & Truck 71.70% 5.94% 44.09% 8.07% 47.52% Auto & Truck 0.92 9.30 15.32 1.51 11.47 Auto & Truck

16 Auto Parts 609 6.04% 85.19% 8.20% 6.61% 5.35% 9.13% Auto Parts 18.98% 1.11 10.11% 1.23 10.85% Auto Parts 73.64% 5.94% 21.53% 9.41% 60.67% Auto Parts 0.78 7.47 11.44 1.72 14.79 Auto Parts

17 Bank 580 8.98% 58.34% 41.42% 0.24% 4.15% NA Bank 18.14% 0.40 5.60% 1.12 10.16% Bank 56.13% 5.44% 74.41% 5.43% 26.90% Bank 9.84 5.46 NA 1.15 9.31 Bank

18 Banks (Regional) 947 6.44% 50.91% 49.09% 0.00% 4.90% NA Banks (Regional) 19.85% 0.50 6.20% 0.67 7.27% Banks (Regional) 65.09% 5.94% 51.40% 5.67% 39.77% Banks (Regional) 4.12 NA NA 0.95 11.71 Banks (Regional)

19 Beverage 107 6.04% 50.81% 34.84% 14.34% 4.83% 0.93% Beverage 10.40% 0.89 8.71% 1.01 9.44% Beverage 79.12% 5.94% 17.51% 8.51% 67.70% Beverage 2.42 13.43 16.59 4.12 20.47 Beverage

20 Beverage (Alcoholic) 209 6.88% 52.95% 27.09% 19.97% 5.59% 7.98% Beverage (Alcoholic) 18.10% 0.71 7.58% 0.82 8.22% Beverage (Alcoholic) 71.22% 5.94% 18.22% 7.48% 60.73% Beverage (Alcoholic) 3.55 12.33 15.43 2.95 17.04 Beverage (Alcoholic)

21


Avg Annual

Rev Growth: Last 5 years

COGS as

% of Revenue

SG&A as

% of Revenues

EBIT as

% of Revenue

Capex as

% of Revenue

Non-cash

WC as % of

Revenue

Industry name

Average

Effective Tax Rate

Asset

(Unlevered) Beta

Unlevered

Cost of Equity

Equity

(Levered) Beta

Cost of Equity

Industry name

Std Dev'n

in Stock Prices

Pre-tax

Cost of Debt

Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

22 Biotechnology 707 11.03% 55.42% 29.00% 15.58% 4.80% 27.86% Biotechnology 2.91% 1.03 9.58% 1.06 9.80% Biotechnology 121.02% 7.94% 7.33% 9.49% 113.32% Biotechnology 9.58 22.75 48.17 7.33 31.81 Biotechnology

23 Broadcasting 134 4.12% 64.76% 18.78% 16.46% 3.46% 12.17% Broadcasting 17.82% 1.08 9.93% 1.33 11.50% Broadcasting 83.75% 6.44% 23.64% 9.85% 67.01% Broadcasting 2.78 12.85 15.17 2.53 12.22 Broadcasting

24Brokerage & Investment Banking

521 4.59% 69.60% 29.98% 0.43% 3.21% NABrokerage & Investment Banking

11.69% 0.35 5.23% 1.08 9.87%Brokerage & Investment Banking

86.04% 6.44% 76.00% 5.79% 40.55%Brokerage & Investment Banking

5.98 10.75 3.13 1.31 16.91Brokerage & Investment Banking

25 Building Materials 414 5.37% 74.44% 18.93% 6.63% 4.48% 17.21% Building Materials 18.24% 0.81 8.16% 0.96 9.16% Building Materials 73.65% 5.94% 25.32% 7.89% 58.27% Building Materials 1.15 10.77 15.88 1.83 23.39 Building Materials

26Business & Consumer Services

714 7.52% 75.77% 16.42% 7.81% 3.05% 9.52%Business & Consumer Services

17.75% 0.77 7.91% 0.87 8.60%Business & Consumer Services

78.50% 5.94% 16.56% 7.86% 66.19%Business & Consumer Services

1.39 12.39 15.80 3.44 24.23Business & Consumer Services

27 Cable TV 63 10.40% 56.87% 24.85% 18.29% 11.83% 0.82% Cable TV 15.62% 0.72 7.60% 1.00 9.38% Cable TV 72.61% 5.94% 32.82% 7.67% 53.71% Cable TV 3.17 10.20 16.74 5.25 21.77 Cable TV

28 Chemical (Basic) 735 6.09% 83.54% 7.65% 8.81% 5.41% 12.35% Chemical (Basic) 15.40% 0.92 8.91% 1.00 9.39% Chemical (Basic) 74.24% 5.94% 12.51% 8.74% 66.75% Chemical (Basic) 2.68 8.24 12.07 4.36 16.69 Chemical (Basic)

29 Chemical (Diversified) 84 2.78% 81.32% 11.30% 7.39% 5.74% 17.93% Chemical (Diversified) 22.63% 1.02 9.54% 1.25 11.01% Chemical (Diversified) 62.82% 5.44% 26.56% 9.10% 49.21% Chemical (Diversified) 1.16 9.50 15.30 2.08 16.59 Chemical (Diversified)

30 Chemical (Specialty) 681 8.57% 74.27% 14.44% 11.30% 6.93% 14.65% Chemical (Specialty) 17.61% 0.88 8.61% 0.97 9.19% Chemical (Specialty) 74.57% 5.94% 17.56% 8.30% 63.68% Chemical (Specialty) 1.62 10.05 13.46 2.38 16.02 Chemical (Specialty)

31 Coal & Related Energy 322 15.68% 88.92% 5.16% 5.92% 8.12% 5.75% Coal & Related Energy 6.27% 0.90 8.73% 1.24 10.91% Coal & Related Energy 112.53% 7.94% 36.24% 8.97% 80.88% Coal & Related Energy 0.99 8.53 15.41 1.22 11.77 Coal & Related Energy

32

Industry nameNumber

of firms

Avg Annual

Rev


COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of Revenue


Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of

Equity

Equity (Levered)

Beta

Cost of

EquityIndustry name

Std Dev'n in Stock

Prices

Pre-tax Cost of

Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

33 Computer Services 939 6.29% 79.65% 12.80% 7.55% 1.55% 11.93% Computer Services 17.30% 0.87 8.54% 0.92 8.89% Computer Services 80.48% 6.44% 13.08% 8.32% 70.76% Computer Services 1.03 10.43 12.64 3.50 16.87 Computer Services

34 Computer Software 1059 7.96% 47.09% 30.17% 22.73% 3.82% 14.46% Computer Software 11.78% 1.02 9.55% 1.03 9.56% Computer Software 94.90% 6.94% 6.48% 9.26% 89.23% Computer Software 4.05 12.92 15.76 3.93 19.51 Computer Software

35 Computers/Peripherals 316 -0.84% 79.98% 9.47% 10.55% 3.22% 7.58% Computers/Peripherals 11.98% 1.11 10.11% 1.13 10.21% Computers/Peripherals 86.41% 6.44% 11.29% 9.56% 78.16% Computers/Peripherals 1.20 8.55 11.22 2.85 14.18 Computers/Peripherals

36 Construction 477 6.24% 71.81% 17.10% 11.08% 7.30% 9.05% Construction 14.84% 0.68 7.34% 0.92 8.86% Construction 74.37% 5.94% 33.62% 7.28% 54.65% Construction 1.72 9.82 14.58 1.45 17.30 Construction

37 Diversified 341 7.97% 79.77% 11.60% 8.63% 5.34% 3.85% Diversified 14.26% 0.59 6.82% 0.89 8.70% Diversified 60.97% 5.44% 40.82% 6.71% 41.52% Diversified 1.57 11.72 16.60 1.49 15.46 Diversified

38 Educational Services 161 8.79% 55.51% 35.48% 9.01% 5.02% 7.44% Educational Services 14.13% 0.79 8.08% 0.89 8.68% Educational Services 88.06% 6.44% 12.34% 8.17% 73.07% Educational Services 1.60 10.55 16.90 2.20 22.16 Educational Services

39 Electrical Equipment 863 4.67% 78.45% 14.70% 6.85% 4.37% 18.05% Electrical Equipment 13.53% 0.98 9.27% 1.09 9.95% Electrical Equipment 79.86% 5.94% 19.35% 8.83% 67.15% Electrical Equipment 1.29 11.78 17.24 2.23 21.91 Electrical Equipment

40 Electronics 1167 2.29% 82.30% 12.30% 5.40% 5.40% 18.11% Electronics 13.29% 1.07 9.84% 1.12 10.17% Electronics 82.71% 6.44% 19.62% 9.06% 69.40% Electronics 0.97 8.76 16.55 1.65 19.48 Electronics

41

Electronics (Consumer & Office)

185 2.59% 77.23% 19.47% 3.29% 3.76% 9.57%Electronics (Consumer & Office)

13.96% 1.04 9.66% 1.22 10.76%Electronics (Consumer & Office)

81.19% 6.44% 28.50% 8.98% 62.33%Electronics (Consumer & Office)

0.59 7.61 15.35 1.30 17.15Electronics (Consumer & Office)

42 Engineering 1167 6.18% 85.37% 10.60% 4.03% 2.87% 10.55% Engineering 16.25% 0.86 8.48% 1.22 10.82% Engineering 80.20% 6.44% 45.23% 7.96% 52.15% Engineering 0.62 8.68 11.52 1.36 12.73 Engineering

43


Avg Annual


COGS as

% of Revenue

SG&A as

% of Revenues

EBIT as

% of Revenue

Capex as

% of Revenue

Non-cash

WC as % of

Revenue

Industry name

Average

Effective Tax Rate

Asset

(Unlevered) Beta

Unlevered

Cost of Equity

Equity

(Levered) Beta

Cost of Equity

Industry name

Std Dev'n

in Stock Prices

Pre-tax

Cost of Debt

Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

Page 3 of 5

44 Entertainment 352 2.02% 67.48% 15.29% 17.23% 3.97% 9.53% Entertainment 9.04% 0.87 8.59% 1.04 9.63% Entertainment 96.49% 6.94% 17.63% 8.79% 80.36% Entertainment 2.81 12.68 15.99 2.92 17.94 Entertainment

45

Environmental & Waste Services

312 8.64% 77.41% 13.62% 8.97% 5.63% 9.23%Environmental & Waste Services

11.45% 0.86 8.49% 1.10 10.01%Environmental & Waste Services

95.73% 6.94% 24.90% 8.72% 75.45%Environmental & Waste Services

1.74 11.27 17.40 2.57 25.60Environmental & Waste Services

46 Farming/Agriculture 341 8.82% 90.06% 5.99% 3.95% 3.91% 16.81% Farming/Agriculture 13.19% 0.66 7.23% 0.81 8.21% Farming/Agriculture 69.73% 5.94% 30.29% 6.99% 52.95% Farming/Agriculture 0.78 12.84 18.14 1.46 17.71 Farming/Agriculture

47 Financial Svcs. 548 9.27% 42.85% 49.79% 7.36% 4.42% NA Financial Svcs. 17.33% 0.21 4.38% 0.96 9.12% Financial Svcs. 78.77% 5.94% 83.58% 4.97% 34.63% Financial Svcs. 13.99 17.54 20.75 1.35 12.89 Financial Svcs.

48

Financial Svcs. (Non-bank & Insurance)

133 19.67% 49.44% 46.59% 3.97% 3.52% NAFinancial Svcs. (Non-bank & Insurance)

12.60% 0.28 4.82% 0.93 8.93%Financial Svcs. (Non-bank & Insurance)

81.86% 6.44% 74.56% 5.63% 39.10%Financial Svcs. (Non-bank & Insurance)

7.55 8.16 7.48 0.91 12.21Financial Svcs. (Non-bank & Insurance)

49 Food Processing 1201 7.16% 72.89% 19.02% 8.09% 4.42% 10.11% Food Processing 16.40% 0.66 7.24% 0.77 7.92% Food Processing 68.73% 5.94% 19.67% 7.18% 57.49% Food Processing 1.39 12.35 16.32 2.67 21.19 Food Processing

50 Food Wholesalers 115 2.07% 84.82% 12.11% 3.07% 1.83% 2.73% Food Wholesalers 17.20% 0.59 6.81% 0.90 8.74% Food Wholesalers 71.74% 5.94% 40.52% 6.88% 47.55% Food Wholesalers 0.37 8.71 12.31 1.31 15.78 Food Wholesalers

51 Furn/Home Furnishings 319 3.04% 75.12% 18.24% 6.64% 3.05% 2.78% Furn/Home Furnishings 16.03% 0.87 8.54% 0.91 8.83% Furn/Home Furnishings 75.68% 5.94% 17.30% 8.02% 64.37% Furn/Home Furnishings 0.91 9.98 12.48 2.21 17.18 Furn/Home Furnishings

52 Healthcare Equipment 448 7.64% 48.72% 32.92% 18.37% 4.51% 23.12% Healthcare Equipment 8.83% 0.81 8.17% 0.87 8.59% Healthcare Equipment 94.01% 6.94% 13.05% 8.10% 83.73% Healthcare Equipment 2.86 11.36 14.75 3.26 21.46 Healthcare Equipment

53 Healthcare Facilities 170 12.96% 83.25% 6.19% 10.56% 5.94% 11.26% Healthcare Facilities 16.65% 0.49 6.14% 0.78 7.99% Healthcare Facilities 75.86% 5.94% 38.41% 6.52% 50.96% Healthcare Facilities 1.77 11.41 16.61 3.43 20.06 Healthcare Facilities

54


Avg Annual

Rev Growth: Last 5

years

COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash

WC as % of

Revenue


Asset (Unlevered)

Beta


Equity (Levered)

Beta

Cost of Equity



Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

55 Healthcare Products 159 16.82% 59.21% 28.20% 12.59% 6.63% 24.06% Healthcare Products 12.66% 0.81 8.18% 0.87 8.59% Healthcare Products 84.07% 6.44% 12.38% 8.08% 75.38% Healthcare Products 3.02 15.25 22.58 3.41 26.88 Healthcare Products

56 Healthcare Services 322 12.41% 86.50% 8.63% 4.86% 0.97% -0.27% Healthcare Services 17.26% 0.70 7.50% 0.82 8.23% Healthcare Services 81.35% 6.44% 21.15% 7.44% 66.41% Healthcare Services 0.58 9.63 11.63 2.16 19.15 Healthcare Services

57

Heathcare Information and Technology

278 8.13% 62.33% 25.74% 11.93% 4.10% 23.29%Heathcare Information and Technology

7.88% 1.02 9.54% 1.11 10.10%Heathcare Information and Technology

107.10% 7.94% 12.22% 9.54% 95.59%Heathcare Information and Technology

3.25 16.71 25.39 3.74 33.41Heathcare Information and Technology

58 Heavy Construction 335 3.60% 83.18% 10.51% 6.31% 5.10% 21.62% Heavy Construction 17.11% 0.95 9.08% 1.29 11.21% Heavy Construction 76.74% 5.94% 36.37% 8.64% 54.97% Heavy Construction 1.16 11.08 16.57 1.96 16.66 Heavy Construction

59 Homebuilding 164 3.48% 80.29% 13.14% 6.57% 1.13% 55.48% Homebuilding 16.65% 1.04 9.63% 1.36 11.66% Homebuilding 82.32% 6.44% 31.92% 9.38% 59.67% Homebuilding 1.22 12.67 20.63 1.52 11.30 Homebuilding

60 Hotel/Gaming 648 9.11% 71.95% 16.12% 11.94% 6.17% -1.96% Hotel/Gaming 12.36% 0.74 7.74% 0.90 8.76% Hotel/Gaming 76.10% 5.94% 23.01% 7.70% 60.87% Hotel/Gaming 2.60 14.07 19.87 2.62 24.45 Hotel/Gaming

61 Household Products 458 8.81% 49.76% 35.52% 14.73% 4.08% 9.97% Household Products 14.13% 0.76 7.90% 0.82 8.27% Household Products 79.65% 5.94% 11.41% 7.80% 71.85% Household Products 2.47 13.42 16.50 4.13 22.95 Household Products

62 Information Services 177 6.21% 58.03% 18.78% 23.19% 2.87% 12.56% Information Services 17.57% 0.79 8.07% 0.83 8.30% Information Services 75.29% 5.94% 9.03% 7.93% 69.34% Information Services 4.18 14.91 17.37 5.59 25.18 Information Services

63 Insurance (General) 235 9.69% 84.23% 7.01% 8.75% 0.84% 4.28% Insurance (General) 13.95% 0.66 7.26% 0.74 7.76% Insurance (General) 60.69% 5.44% 27.91% 6.66% 46.97% Insurance (General) 0.81 7.61 8.84 1.18 14.87 Insurance (General)

64 Insurance (Life) 121 12.08% 82.40% 8.93% 8.67% 0.43% 5.25% Insurance (Life) 18.80% 1.05 9.72% 1.21 10.71% Insurance (Life) 57.95% 5.44% 33.55% 8.39% 42.70% Insurance (Life) 0.95 10.24 10.86 1.34 15.20 Insurance (Life)

65


Avg

Annual Rev

Growth:

Last 5 years

COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of

Revenue


Asset (Unlevered)

Beta


Equity (Levered)

Beta

Cost of Equity



Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

66 Insurance (Prop/Cas.) 219 7.94% 78.57% 10.46% 10.97% 0.71% -26.30% Insurance (Prop/Cas.) 15.06% 0.63 7.05% 0.72 7.64% Insurance (Prop/Cas.) 61.43% 5.44% 23.61% 6.74% 49.57% Insurance (Prop/Cas.) 1.00 8.33 8.37 1.27 11.35 Insurance (Prop/Cas.)

67

Internet software and services

706 9.58% 52.01% 28.66% 19.33% 8.91% 3.34%Internet software and services

8.65% 1.10 10.05% 1.09 9.98%Internet software and services

110.49% 7.94% 2.88% 9.85% 107.13%Internet software and services

6.76 22.50 31.85 5.50 35.49Internet software and services

68 Investment Co. 433 -2.32% 46.57% 39.49% 13.93% 2.37% NA Investment Co. 6.96% 0.58 6.74% 0.89 8.69% Investment Co. 90.22% 6.94% 45.22% 6.96% 58.73% Investment Co. 4.97 12.54 11.33 1.30 15.13 Investment Co.

69 Machinery 1270 2.08% 73.32% 18.01% 8.67% 4.05% 23.75% Machinery 17.45% 1.01 9.48% 1.08 9.91% Machinery 72.55% 5.94% 16.87% 8.94% 62.46% Machinery 1.50 11.90 16.15 2.39 20.24 Machinery

70 Metals & Mining 1691 9.15% 74.81% 11.71% 13.48% 19.79% 9.43% Metals & Mining 3.58% 1.03 9.57% 1.32 11.42% Metals & Mining 124.96% 7.94% 26.99% 9.83% 97.80% Metals & Mining 1.88 7.96 13.16 1.52 15.61 Metals & Mining

71Office Equipment & Services

161 0.82% 68.98% 24.02% 7.00% 3.32% 12.91%Office Equipment & Services

17.66% 0.62 6.97% 0.74 7.76%Office Equipment & Services

74.50% 5.94% 23.01% 6.93% 58.34%Office Equipment & Services

1.06 10.37 12.76 2.35 20.12Office Equipment & Services

72 Oil/Gas (Integrated) 53 6.66% 84.63% 5.05% 10.32% 11.44% 3.66% Oil/Gas (Integrated) 24.53% 1.04 9.63% 1.19 10.62% Oil/Gas (Integrated) 53.63% 5.44% 19.25% 9.31% 43.81% Oil/Gas (Integrated) 0.80 5.08 7.91 1.22 8.97 Oil/Gas (Integrated)

73

Oil/Gas (Production and Exploration)

1172 12.46% 69.44% 7.87% 22.69% 44.93% 1.72%Oil/Gas (Production and Exploration)

6.93% 0.74 7.73% 1.30 11.27%Oil/Gas (Production and Exploration)

115.11% 7.94% 22.87% 9.96% 74.58%Oil/Gas (Production and Exploration)

4.50 9.50 NA 1.74 14.79Oil/Gas (Production and Exploration)

74 Oil/Gas Distribution 199 11.09% 88.72% 3.30% 7.99% 14.19% 3.55% Oil/Gas Distribution 9.63% 0.73 7.69% 1.09 9.94% Oil/Gas Distribution 69.02% 5.94% 35.33% 7.90% 49.83% Oil/Gas Distribution 1.96 15.43 23.01 2.04 23.50 Oil/Gas Distribution

75 Oilfield Svcs/Equip. 593 9.00% 92.03% 3.80% 4.17% 3.65% 6.96% Oilfield Svcs/Equip. 13.98% 0.92 8.88% 1.14 10.28% Oilfield Svcs/Equip. 86.57% 6.44% 25.41% 8.81% 68.21% Oilfield Svcs/Equip. 0.58 8.92 12.79 1.90 15.27 Oilfield Svcs/Equip.

76


Avg

Annual Rev

Growth:

Last 5 years

COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of

Revenue


Asset (Unlevered)

Beta


Equity (Levered)

Beta

Cost of Equity



Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

77 Packaging & Container 398 6.04% 78.99% 13.48% 7.53% 5.28% 14.38% Packaging & Container 17.72% 0.64 7.13% 0.84 8.37% Packaging & Container 73.64% 5.94% 30.73% 7.08% 55.50% Packaging & Container 1.15 9.01 13.98 2.07 18.44 Packaging & Container

78 Paper/Forest Products 303 2.19% 80.04% 14.33% 5.63% 6.23% 17.20% Paper/Forest Products 12.53% 0.62 6.95% 0.97 9.21% Paper/Forest Products 76.88% 5.94% 43.28% 7.02% 51.15% Paper/Forest Products 1.18 10.05 20.07 1.24 16.65 Paper/Forest Products

79 Pharma & Drugs 820 12.16% 49.00% 29.91% 21.09% 4.19% 18.16% Pharma & Drugs 13.54% 0.83 8.31% 0.88 8.64% Pharma & Drugs 82.41% 6.44% 10.96% 8.18% 74.96% Pharma & Drugs 3.59 12.33 16.57 3.58 20.23 Pharma & Drugs

80 Power 743 12.80% 80.64% 7.56% 11.80% 16.00% 1.83% Power 14.72% 0.49 6.18% 0.88 8.60% Power 66.87% 5.94% 49.47% 6.40% 41.56% Power 1.86 8.74 15.69 1.21 14.81 Power

81 Precious Metals 1181 29.33% 81.96% 8.44% 9.60% 33.33% 14.88% Precious Metals 2.16% 1.15 10.36% 1.38 11.80% Precious Metals 137.70% 7.94% 23.45% 10.34% 112.20% Precious Metals 2.21 6.58 20.73 1.11 15.27 Precious Metals

82 Publshing & Newspapers 390 0.47% 71.86% 20.38% 7.76% 3.35% 8.16% Publshing & Newspapers 15.19% 0.77 7.94% 0.91 8.85% Publshing & Newspapers 78.10% 5.94% 22.23% 7.81% 62.90% Publshing & Newspapers 1.57 10.27 16.90 1.96 17.22 Publshing & Newspapers

83 R.E.I.T. 49 20.47% 87.60% 11.18% 1.21% 1.76% NA R.E.I.T. 2.32% 0.13 3.85% 0.79 8.07% R.E.I.T. 55.57% 5.44% 84.65% 4.46% 24.23% R.E.I.T. 32.55 10.74 20.06 0.91 5.43 R.E.I.T.

84 Railroad 54 4.64% 73.25% 7.42% 19.33% 14.92% -2.34% Railroad 25.54% 0.58 6.71% 0.76 7.90% Railroad 48.02% 4.94% 31.16% 6.51% 36.01% Railroad 2.76 9.37 13.51 2.09 16.36 Railroad

85Real Estate (General/Diversified)

422 3.78% 72.72% 10.95% 16.33% 8.02% 80.89%Real Estate (General/Diversified)

13.99% 0.70 7.49% 1.06 9.80%Real Estate (General/Diversified)

77.61% 5.94% 41.25% 7.47% 51.82%Real Estate (General/Diversified)

3.59 17.13 24.41 1.03 11.65Real Estate (General/Diversified)

86Real Estate (Development)

647 13.65% 69.02% 8.49% 22.49% 3.51% NAReal Estate (Development)

17.32% 0.31 5.01% 1.13 10.23%Real Estate (Development)

78.59% 5.94% 77.86% 5.50% 36.43%Real Estate (Development)

6.77 9.94 10.26 0.34 7.89Real Estate (Development)

87


Avg Annual


COGS as

% of Revenue

SG&A as

% of Revenues

EBIT as

% of Revenue

Capex as

% of Revenue

Non-cash

WC as % of

Revenue

Industry name

Average

Effective Tax Rate

Asset

(Unlevered) Beta

Unlevered

Cost of Equity

Equity

(Levered) Beta

Cost of Equity

Industry name

Std Dev'n

in Stock Prices

Pre-tax

Cost of Debt

Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

88Real Estate (Operations & Services)

481 11.14% 49.90% 20.69% 29.41% 8.03% 24.48%Real Estate (Operations & Services)

12.90% 0.55 6.54% 0.89 8.69%Real Estate (Operations & Services)

74.83% 5.94% 43.29% 6.73% 49.79%Real Estate (Operations & Services)

6.19 17.57 18.87 1.10 12.06Real Estate (Operations & Services)

89 Recreation 286 2.77% 67.60% 20.94% 11.46% 5.47% 15.51% Recreation 17.48% 0.86 8.49% 0.96 9.15% Recreation 76.90% 5.94% 19.25% 8.19% 63.75% Recreation 1.84 10.80 16.02 2.49 19.91 Recreation

90 Reinsurance 37 13.21% 87.97% 0.95% 11.07% 0.07% -54.10% Reinsurance 10.81% 0.89 8.66% 0.99 9.32% Reinsurance 49.08% 4.94% 24.75% 7.87% 39.30% Reinsurance 0.83 6.86 6.86 1.04 9.86 Reinsurance

91 Restaurant 304 5.91% 72.62% 16.50% 10.88% 5.60% -1.73% Restaurant 21.05% 0.64 7.12% 0.76 7.90% Restaurant 66.03% 5.94% 15.88% 7.30% 54.02% Restaurant 2.05 13.49 15.96 5.12 28.46 Restaurant

92 Retail (Automotive) 148 9.04% 82.89% 12.40% 4.71% 2.79% 7.77% Retail (Automotive) 18.79% 0.64 7.11% 0.89 8.70% Retail (Automotive) 74.45% 5.94% 31.28% 7.28% 53.29% Retail (Automotive) 0.75 11.94 15.43 3.09 17.60 Retail (Automotive)

93 Retail (Building Supply) 50 4.20% 67.70% 24.27% 8.02% 2.05% 7.46% Retail (Building Supply) 26.05% 0.74 7.72% 0.87 8.54% Retail (Building Supply) 63.52% 5.44% 15.08% 7.83% 52.05% Retail (Building Supply) 1.25 11.84 15.54 3.85 20.20 Retail (Building Supply)

Page 4 of 5

94 Retail (Distributors) 848 5.91% 87.00% 9.46% 3.55% 2.91% 14.12% Retail (Distributors) 19.04% 0.57 6.66% 0.88 8.63% Retail (Distributors) 74.17% 5.94% 45.80% 6.58% 47.65% Retail (Distributors) 0.67 12.70 16.83 1.34 13.31 Retail (Distributors)

95 Retail (General) 229 8.91% 74.94% 20.18% 4.88% 3.32% 0.28% Retail (General) 23.63% 0.73 7.68% 0.93 8.94% Retail (General) 61.64% 5.44% 23.61% 7.73% 46.70% Retail (General) 0.75 10.32 14.39 2.36 16.91 Retail (General)

96 Retail (Grocery and Food) 174 6.59% 78.64% 17.32% 4.04% 3.32% -3.65% Retail (Grocery and Food) 26.17% 0.53 6.38% 0.69 7.42% Retail (Grocery and Food) 55.19% 5.44% 26.25% 6.47% 39.97% Retail (Grocery and Food) 0.61 9.86 13.98 2.06 15.53 Retail (Grocery and Food)

97 Retail (Internet) 118 9.44% 69.54% 25.54% 4.93% 4.90% -2.65% Retail (Internet) 13.55% 1.22 10.81% 1.24 10.91% Retail (Internet) 112.07% 7.94% 4.42% 10.67% 106.91% Retail (Internet) 3.19 38.01 65.19 10.20 80.99 Retail (Internet)

98


Avg Annual


COGS as

% of Revenue

SG&A as

% of Revenues

EBIT as

% of Revenue

Capex as

% of Revenue

Non-cash

WC as % of

Revenue

Industry name

Average

Effective Tax Rate

Asset

(Unlevered) Beta

Unlevered

Cost of Equity

Equity

(Levered) Beta

Cost of Equity

Industry name

Std Dev'n

in Stock Prices

Pre-tax

Cost of Debt

Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

99 Retail (Special Lines) 543 4.59% 68.45% 24.80% 6.76% 2.45% 9.12% Retail (Special Lines) 20.75% 0.80 8.11% 0.93 8.97% Retail (Special Lines) 75.39% 5.94% 10.16% 8.48% 62.09% Retail (Special Lines) 1.17 12.78 13.88 3.27 20.67 Retail (Special Lines)

100 Rubber& Tires 93 6.75% 73.78% 16.45% 9.77% 7.14% 17.08% Rubber& Tires 20.06% 0.93 8.95% 1.15 10.32% Rubber& Tires 72.06% 5.94% 27.03% 8.65% 55.99% Rubber& Tires 0.94 6.64 9.32 1.82 12.17 Rubber& Tires

101 Semiconductor 559 2.98% 72.69% 13.51% 13.80% 11.05% 14.95% Semiconductor 9.04% 1.34 11.54% 1.37 11.77% Semiconductor 84.90% 6.44% 11.49% 10.93% 76.84% Semiconductor 1.81 7.29 12.66 2.16 13.25 Semiconductor

102 Semiconductor Equip 263 -0.13% 80.74% 14.72% 4.54% 5.80% 31.80% Semiconductor Equip 9.61% 1.23 10.86% 1.30 11.27% Semiconductor Equip 89.25% 6.44% 15.28% 10.23% 78.13% Semiconductor Equip 2.41 17.06 44.21 2.22 23.61 Semiconductor Equip

103 Shipbuilding & Marine 356 3.58% 86.73% 7.21% 6.06% 11.32% -0.96% Shipbuilding & Marine 12.58% 0.64 7.10% 1.06 9.78% Shipbuilding & Marine 75.25% 5.94% 42.68% 7.38% 47.70% Shipbuilding & Marine 1.65 11.53 19.29 1.18 14.94 Shipbuilding & Marine

104 Shoe 92 8.24% 63.31% 27.23% 9.46% 1.75% 21.10% Shoe 20.41% 0.90 8.73% 0.92 8.86% Shoe 72.19% 5.94% 6.67% 8.54% 66.44% Shoe 1.71 14.20 15.21 3.14 20.68 Shoe

105 Steel 714 1.63% 88.99% 7.62% 3.39% 7.31% 13.24% Steel 12.97% 0.78 8.00% 1.26 11.03% Steel 82.01% 6.44% 46.52% 8.00% 52.85% Steel 0.80 9.26 21.41 0.96 14.31 Steel

106 Telecom (Wireless) 116 8.86% 63.57% 20.52% 15.91% 17.27% 0.68% Telecom (Wireless) 15.35% 0.75 7.80% 0.95 9.07% Telecom (Wireless) 69.73% 5.94% 25.70% 7.81% 54.05% Telecom (Wireless) 2.29 7.28 13.78 1.96 11.42 Telecom (Wireless)

107

Industry nameNumber

of firms

Avg Annual

Rev


COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of Revenue


Tax Rate

Asset (Unlevered)

Beta

Unlevered Cost of

Equity

Equity (Levered)

Beta

Cost of

EquityIndustry name

Std Dev'n in Stock

Prices

Pre-tax Cost of

Debt

Market

Debt/Capital

Cost of

Capital

Asset


EV/

Sales

EV/

EBITDA

EV/

EBIT

Price/

Book

Trailing

PEIndustry name

108 Telecom. Equipment 525 4.09% 73.94% 16.81% 9.25% 2.82% 13.45% Telecom. Equipment 9.56% 1.13 10.21% 1.15 10.37% Telecom. Equipment 92.82% 6.94% 11.92% 9.71% 83.22% Telecom. Equipment 1.75 11.72 17.12 2.49 17.26 Telecom. Equipment

109 Telecom. Services 317 7.03% 67.33% 18.85% 13.81% 14.60% -1.62% Telecom. Services 12.92% 0.57 6.64% 0.84 8.34% Telecom. Services 79.59% 5.94% 37.28% 6.78% 55.25% Telecom. Services 1.84 6.23 12.14 1.71 17.69 Telecom. Services

110 Thrift 281 9.30% 88.39% 10.57% 1.04% 0.83% NA Thrift 18.73% 0.02 3.16% 0.60 6.83% Thrift 67.28% 5.94% 97.39% 4.23% 27.13% Thrift NA 17.76 NA 1.21 0.99 Thrift

111 Tobacco 53 9.63% 55.93% 15.44% 28.64% 3.14% 16.81% Tobacco 20.52% 0.61 6.90% 0.67 7.29% Tobacco 56.99% 5.44% 14.60% 6.78% 50.29% Tobacco 3.52 11.23 12.19 10.01 17.11 Tobacco

112 Transportation 228 11.70% 88.01% 4.16% 7.83% 4.12% 3.06% Transportation 20.49% 0.71 7.54% 0.89 8.72% Transportation 65.24% 5.94% 27.94% 7.45% 49.04% Transportation 1.36 11.65 15.74 2.40 18.44 Transportation

113 Trucking 191 1.87% 87.63% 6.04% 6.33% 8.76% 4.50% Trucking 23.30% 0.56 6.61% 0.82 8.25% Trucking 65.81% 5.94% 38.05% 6.69% 44.75% Trucking 1.08 9.52 13.18 2.05 19.93 Trucking

114 Utility (General) 55 4.05% 82.64% 6.83% 10.53% 11.16% 0.82% Utility (General) 25.18% 0.43 5.77% 0.70 7.47% Utility (General) 46.47% 4.94% 47.77% 5.55% 29.41% Utility (General) 1.27 7.43 11.70 1.26 19.17 Utility (General)

115 Utility (Water) 97 9.67% 59.65% 12.19% 28.16% 19.17% 13.65% Utility (Water) 15.09% 0.61 6.91% 0.83 8.32% Utility (Water) 66.98% 5.94% 34.00% 6.91% 49.19% Utility (Water) 4.43 11.14 15.61 2.12 14.91 Utility (Water)

116 Total Market 40906 6.86% 76.94% 14.43% 8.63% 6.63% 10.09% Total Market 13.80% 0.66 7.21% 1.03 9.56% Total Market 83.41% 6.44% 44.40% 7.32% 54.45% Total Market 1.98 9.77 14.83 1.80 14.60 Total Market

117


Avg Annual

Rev Growth:

Last 5 years

COGS as % of

Revenue

SG&A as % of

Revenues

EBIT as % of

Revenue

Capex as % of

Revenue

Non-cash WC as %

of

Revenue


Asset (Unlevered)

Beta


Equity (Levered)

Beta

Cost of Equity



Market Debt/Capital

Cost of Capital

Asset Volatility

Industry nameEV/

SalesEV/

EBITDAEV/

EBITPrice/ Book

Trailing PE

Industry name

118

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industry averages financial ratios

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