Sherafy Industry Financial Benchmarks is a dated reference dataset for comparing a business’s operating profile, capital structure, and valuation assumptions with broad global industry measures. This release contains 96 industries and is designed to provide transparent calculator defaults—not to replace company-specific research or professional advice.
Release status
Current draft release: 2026-08-31
Industry source data as of: 2026-01-05
Country-risk companion release: 157 countries and jurisdictions, source data as of 2026-07-01. Workbook notes a July 9, 2026 default-spread correction.
This Page remains a draft while Sherafy completes source-attribution and reader-presentation checks. Its data release is local and versioned; calculators will use a pinned release rather than call a third-party provider live.
What the benchmarks cover
| Benchmark area | Measures in this release |
|---|---|
| Risk and capital structure | Levered beta, unlevered beta, debt-to-equity ratio, effective tax rate |
| Profitability | Gross margin, operating margin, EBITDA margin, net margin, cost and operating-expense ratios |
| Working capital | Accounts receivable, inventory, accounts payable, and non-cash working capital as a share of revenue |
| Growth and reinvestment | Return on capital, reinvestment rate, expected EBIT growth |
Industry benchmark table
All percentage values are shown as a share of revenue, capital, or the relevant base. NWC means non-cash working capital. A dash means the source did not report a usable value for that industry.
| Industry | Firms | Beta | Unlevered beta | D/E | Gross margin | EBITDA margin | NWC / sales | ROC | Expected EBIT growth |
|---|---|---|---|---|---|---|---|---|---|
| Advertising | 419 | 1.27 | 0.98 | 40.6% | 34.8% | 10.6% | -0.7% | 17.9% | 2.0% |
| Aerospace/Defense | 319 | 1.23 | 1.12 | 13.0% | 21.1% | 10.6% | 39.3% | 15.5% | 10.8% |
| Air Transport | 150 | 0.99 | 0.62 | 78.9% | 24.8% | 13.1% | -3.5% | 9.0% | 4.3% |
| Apparel | 1,207 | 0.76 | 0.67 | 18.7% | 46.7% | 14.5% | 22.3% | 16.1% | 6.4% |
| Auto & Truck | 165 | 1.41 | 1.04 | 47.8% | 16.2% | 9.0% | -2.5% | 4.3% | 3.4% |
| Auto Parts | 797 | 1.45 | 1.20 | 27.8% | 18.1% | 9.0% | 11.4% | 12.9% | 11.4% |
| Bank (Money Center) | 604 | 0.70 | 0.27 | 211.7% | 99.6% | 0.3% | — | — | — |
| Banks (Regional) | 825 | 0.51 | 0.20 | 202.3% | 99.6% | -0.0% | — | — | — |
| Beverage (Alcoholic) | 217 | 0.79 | 0.69 | 20.3% | 50.9% | 26.3% | 10.9% | 15.4% | 2.1% |
| Beverage (Soft) | 94 | 0.59 | 0.52 | 18.7% | 49.6% | 20.0% | -4.3% | 25.4% | 8.3% |
| Broadcasting | 127 | 0.83 | 0.58 | 56.8% | 35.7% | 14.8% | 11.5% | 9.5% | 11.3% |
| Brokerage & Investment Banking | 623 | 0.98 | 0.42 | 179.1% | 55.1% | 0.8% | -135.2% | — | — |
| Building Materials | 469 | 1.00 | 0.86 | 22.8% | 31.7% | 14.0% | 17.6% | 14.2% | 8.1% |
| Business & Consumer Services | 994 | 0.99 | 0.86 | 20.6% | 32.4% | 12.5% | 10.9% | 22.1% | 7.3% |
| Cable TV | 42 | 1.10 | 0.57 | 124.2% | 61.8% | 31.6% | 2.6% | 11.2% | -0.7% |
| Chemical (Basic) | 909 | 1.26 | 0.91 | 50.5% | 14.8% | 10.0% | 12.0% | 3.1% | 4.4% |
| Chemical (Diversified) | 63 | 1.17 | 0.84 | 52.5% | 26.7% | 11.9% | 20.9% | 6.4% | 5.0% |
| Chemical (Specialty) | 952 | 1.15 | 0.98 | 23.5% | 30.2% | 16.0% | 18.9% | 9.5% | 5.4% |
| Coal & Related Energy | 212 | 1.14 | 1.00 | 19.9% | 31.9% | 28.8% | -3.2% | 14.1% | 11.5% |
| Computer Services | 1,225 | 1.12 | 1.00 | 15.0% | 20.8% | 8.7% | 29.9% | 21.0% | 6.7% |
| Computers/Peripherals | 343 | 1.49 | 1.42 | 6.2% | 28.4% | 15.7% | 4.7% | 19.9% | 11.2% |
| Construction Supplies | 804 | 1.03 | 0.84 | 30.3% | 26.0% | 13.2% | 17.4% | 9.3% | 4.7% |
| Diversified | 329 | 0.80 | 0.59 | 48.5% | 28.9% | 20.6% | 6.0% | 9.0% | 3.5% |
| Drugs (Biotechnology) | 1,193 | 1.23 | 1.13 | 12.3% | 59.1% | 12.9% | 20.6% | 3.0% | 0.9% |
| Drugs (Pharmaceutical) | 1,260 | 1.06 | 0.96 | 14.9% | 66.1% | 26.2% | 18.5% | 14.7% | 4.0% |
| Education | 281 | 0.81 | 0.67 | 28.6% | 47.2% | 19.0% | 6.0% | 14.4% | 3.9% |
| Electrical Equipment | 1,158 | 1.37 | 1.25 | 13.7% | 24.1% | 10.5% | 22.3% | 11.5% | 10.7% |
| Electronics (Consumer & Office) | 122 | 1.20 | 1.07 | 16.3% | 26.0% | 9.0% | 5.2% | 8.1% | 4.3% |
| Electronics (General) | 1,481 | 1.60 | 1.45 | 14.2% | 18.5% | 9.7% | 18.4% | 8.2% | 8.9% |
| Engineering/Construction | 1,390 | 1.00 | 0.64 | 76.5% | 17.5% | 6.4% | 16.7% | 7.2% | 9.6% |
| Entertainment | 733 | 1.01 | 0.92 | 12.7% | 44.9% | 16.7% | 2.7% | 11.0% | -0.6% |
| Environmental & Waste Services | 397 | 1.10 | 0.87 | 35.7% | 33.1% | 17.4% | 15.5% | 10.4% | 12.1% |
| Farming/Agriculture | 428 | 0.67 | 0.47 | 59.0% | 15.9% | 8.8% | 18.5% | 6.8% | 2.8% |
| Financial Svcs. (Non-bank & Insurance) | 1,138 | 0.82 | 0.28 | 264.8% | 71.3% | 16.0% | — | — | — |
| Food Processing | 1,450 | 0.67 | 0.53 | 37.1% | 25.9% | 11.4% | 10.6% | 12.0% | 4.5% |
| Food Wholesalers | 183 | 0.68 | 0.48 | 58.2% | 14.6% | 3.5% | 6.8% | 10.7% | 11.2% |
| Furn/Home Furnishings | 383 | 0.97 | 0.81 | 25.7% | 28.0% | 9.6% | 6.0% | 12.6% | 4.1% |
| Green & Renewable Energy | 258 | 0.84 | 0.55 | 71.4% | 50.4% | 46.7% | 10.3% | 5.5% | 11.6% |
| Healthcare Products | 842 | 1.18 | 1.07 | 13.9% | 53.9% | 19.3% | 26.8% | 13.7% | 6.7% |
| Healthcare Support Services | 478 | 0.92 | 0.71 | 38.1% | 12.4% | 4.0% | -2.5% | 20.7% | 10.6% |
| Heathcare Information and Technology | 430 | 1.29 | 1.17 | 14.0% | 45.1% | 19.5% | 24.4% | 12.5% | 4.8% |
| Homebuilding | 160 | 0.96 | 0.74 | 39.9% | 21.6% | 11.7% | 67.3% | 10.4% | 5.2% |
| Hospitals/Healthcare Facilities | 249 | 0.76 | 0.56 | 46.6% | 34.5% | 15.1% | 5.7% | 13.2% | 4.8% |
| Hotel/Gaming | 656 | 0.80 | 0.61 | 40.2% | 53.0% | 21.5% | -3.7% | 11.8% | 2.6% |
| Household Products | 588 | 0.83 | 0.74 | 15.7% | 51.7% | 18.4% | 5.9% | 23.1% | 5.5% |
| Information Services | 86 | 1.02 | 0.83 | 32.0% | 33.9% | 15.7% | 14.1% | 22.8% | -3.7% |
| Insurance (General) | 204 | 0.51 | 0.42 | 30.1% | 24.8% | 12.7% | 14.8% | 25.6% | 10.4% |
| Insurance (Life) | 143 | 0.80 | 0.52 | 75.1% | 37.5% | 13.9% | -101.8% | 14.5% | -6.6% |
| Insurance (Prop/Cas.) | 248 | 0.43 | 0.38 | 16.3% | 26.7% | 14.6% | -25.8% | 18.1% | -1.7% |
| Investments & Asset Management | 1,315 | 0.75 | 0.52 | 60.3% | 57.6% | 20.4% | — | 8.3% | 8.1% |
| Machinery | 1,553 | 1.37 | 1.24 | 13.6% | 33.0% | 13.2% | 29.1% | 11.8% | 6.5% |
| Metals & Mining | 1,874 | 1.24 | 1.05 | 23.0% | 20.4% | 14.9% | 12.8% | 13.7% | 12.7% |
| Office Equipment & Services | 139 | 0.76 | 0.63 | 28.6% | 34.9% | 10.5% | 15.0% | 12.6% | 7.5% |
| Oil/Gas (Integrated) | 34 | 0.69 | 0.59 | 21.6% | 32.9% | 22.2% | 2.5% | 13.9% | 3.5% |
| Oil/Gas (Production and Exploration) | 539 | 0.89 | 0.70 | 35.8% | 57.0% | 48.4% | 1.1% | 14.9% | 13.8% |
| Oil/Gas Distribution | 186 | 0.65 | 0.45 | 61.5% | 31.4% | 23.8% | 2.6% | 9.2% | 7.3% |
| Oilfield Svcs/Equip. | 431 | 0.95 | 0.73 | 39.7% | 13.2% | 7.5% | 5.5% | 9.1% | 2.6% |
| Packaging & Container | 438 | 0.76 | 0.55 | 52.6% | 23.1% | 12.4% | 15.7% | 9.3% | 7.8% |
| Paper/Forest Products | 271 | 0.89 | 0.56 | 78.1% | 20.9% | 12.4% | 17.5% | 2.9% | 4.0% |
| Power | 486 | 0.71 | 0.43 | 85.9% | 29.5% | 23.4% | 2.7% | 7.0% | 7.9% |
| Precious Metals | 777 | 1.40 | 1.31 | 9.1% | 35.7% | 24.8% | 8.0% | 21.5% | 15.4% |
| Publishing & Newspapers | 307 | 0.82 | 0.68 | 28.0% | 39.8% | 11.0% | 7.2% | 9.3% | 5.5% |
| R.E.I.T. | 643 | 0.56 | 0.35 | 80.1% | 59.9% | 44.5% | 112.1% | 3.7% | -0.6% |
| Real Estate (Development) | 895 | 0.93 | 0.38 | 191.2% | 13.7% | 5.2% | 170.9% | 1.2% | -13.1% |
| Real Estate (General/Diversified) | 312 | 0.93 | 0.56 | 88.6% | 28.5% | 18.8% | 116.9% | 3.6% | 2.4% |
| Real Estate (Operations & Services) | 752 | 0.78 | 0.48 | 82.5% | 40.0% | 17.5% | 18.5% | 4.2% | 1.1% |
| Recreation | 332 | 1.01 | 0.81 | 33.4% | 39.5% | 16.0% | 13.9% | 9.5% | 2.4% |
| Reinsurance | 32 | 0.99 | 0.86 | 20.3% | 21.2% | 6.7% | -64.7% | 17.4% | 8.5% |
| Restaurant/Dining | 410 | 0.75 | 0.63 | 26.0% | 36.7% | 13.4% | -0.9% | 14.2% | 3.9% |
| Retail (Automotive) | 212 | 0.83 | 0.60 | 52.8% | 16.3% | 6.4% | 10.3% | 10.5% | 4.2% |
| Retail (Building Supply) | 121 | 0.94 | 0.79 | 25.9% | 35.5% | 12.7% | 9.8% | 23.1% | 13.1% |
| Retail (Distributors) | 1,079 | 0.81 | 0.60 | 48.3% | 15.8% | 6.2% | 16.0% | 7.3% | 7.2% |
| Retail (General) | 252 | 0.98 | 0.90 | 13.0% | 32.6% | 9.5% | 1.2% | 11.7% | 9.1% |
| Retail (Grocery and Food) | 215 | 0.87 | 0.65 | 46.0% | 24.3% | 5.9% | -2.6% | 10.1% | 1.1% |
| Retail (REITs) | 113 | 0.61 | 0.40 | 71.1% | 74.0% | 57.0% | 0.2% | 5.1% | -0.4% |
| Retail (Special Lines) | 649 | 0.96 | 0.84 | 18.4% | 36.6% | 8.8% | 7.3% | 17.0% | 3.3% |
| Rubber& Tires | 91 | 0.94 | 0.71 | 44.1% | 27.3% | 13.1% | 21.2% | 8.3% | 7.4% |
| Semiconductor | 675 | 1.88 | 1.82 | 4.1% | 46.6% | 31.2% | 17.6% | 20.5% | 12.0% |
| Semiconductor Equip | 391 | 2.13 | 2.04 | 5.6% | 38.9% | 22.4% | 30.6% | 17.2% | 8.4% |
| Shipbuilding & Marine | 359 | 0.87 | 0.67 | 41.7% | 26.5% | 22.5% | -1.3% | 8.8% | 4.2% |
| Shoe | 84 | 0.92 | 0.83 | 14.3% | 40.3% | 11.6% | 17.5% | 15.3% | 2.3% |
| Software (Entertainment) | 298 | 1.25 | 1.22 | 3.1% | 65.2% | 32.8% | 3.7% | 22.8% | 16.2% |
| Software (Internet) | 150 | 1.39 | 1.30 | 10.0% | 43.1% | 9.7% | 6.9% | 5.8% | 21.5% |
| Software (System & Application) | 1,532 | 1.35 | 1.30 | 5.8% | 67.8% | 29.8% | 12.4% | 23.7% | 18.4% |
| Steel | 719 | 1.13 | 0.83 | 47.3% | 15.4% | 9.2% | 14.1% | 5.1% | 4.9% |
| Telecom (Wireless) | 101 | 0.78 | 0.57 | 50.0% | 46.6% | 28.3% | -13.5% | 9.3% | 4.4% |
| Telecom. Equipment | 437 | 1.33 | 1.24 | 9.6% | 39.2% | 13.4% | 21.1% | 12.7% | 6.9% |
| Telecom. Services | 283 | 0.73 | 0.47 | 73.2% | 48.1% | 28.8% | 0.8% | 9.9% | -0.5% |
| Tobacco | 48 | 0.43 | 0.36 | 23.7% | 59.0% | 32.0% | 16.2% | 24.2% | 2.0% |
| Total Market | 48,156 | 1.04 | 0.75 | 51.5% | 33.9% | 14.0% | -125.2% | 6.7% | 3.4% |
| Total Market (without financials) | 43,056 | 1.08 | 0.90 | 25.9% | 29.6% | 14.8% | 11.7% | 10.6% | 5.8% |
| Transportation | 451 | 0.96 | 0.69 | 53.5% | 19.2% | 9.7% | 4.8% | 8.7% | 4.4% |
| Transportation (Railroads) | 54 | 0.72 | 0.53 | 47.4% | 37.5% | 32.3% | 7.3% | 7.8% | 5.3% |
| Trucking | 130 | 0.85 | 0.65 | 39.9% | 20.0% | 14.3% | 7.0% | 8.4% | 5.8% |
| Utility (General) | 52 | 0.50 | 0.32 | 76.2% | 34.9% | 21.8% | 2.2% | 8.0% | 8.4% |
| Utility (Water) | 106 | 0.70 | 0.42 | 91.3% | 46.8% | 37.4% | 15.4% | 6.7% | 6.6% |
How Sherafy calculators use this data
A calculator may prefill a benchmark after an industry is selected, but it will show the release ID and allow a user to replace that default. A selected beta, operating ratio, or reinvestment assumption can then flow into a cost-of-capital, free-cash-flow, or valuation calculation without silently changing the reference set.
Sources and methodology
The benchmark release combines current global industry source tables for levered and unlevered betas, operating and net margins, working-capital requirements, and fundamental EBIT growth. The related country-risk release uses the July 2026 country-risk workbook.
Sherafy keeps the source snapshots, field definitions, source-effective dates, and file hashes with each local release. Any transformation is limited to normalizing industry and country IDs, storing percentage fields as decimals for calculator use, and joining the benchmark tables by their source industry name.
Update policy and limitations
Sherafy will review these datasets after the publisher January and July update cycles and create a new dated release rather than overwrite a prior one. Benchmark data is an aggregate comparison point, not a valuation conclusion. Geography, business model, growth stage, accounting choices, customer concentration, and one-time events can all make a company materially different from its broader industry.
This resource is educational and does not constitute investment, accounting, tax, legal, or valuation advice.