Saturday, February 4, 2023

Your Industry Choice Matters

I once had a management professor give one bit of advice to people just entering the workforce. When choosing an industry to work in, it is better to choose a fast-growing industry rather than a slow-growth or declining industry. 


If one has a choice, it is helpful to be in an industry forecast to show lots of growth, which also often correlates with other valuation ratios, such as enterprise value/revenue. 


Here is a ranking of industries made by Stern School at New York University researchers and updated in January 2023. Looking at EV/Sales ratios, one can see that valuation ratios can routinely vary by an order of magnitude. 


Financial services and real estate investment trusts routinely are valued at 10 to 20 times specialty retailers and as much as 63 times higher than grocers. Compared to fixed network communications services, financial services are an order of magnitude more highly valued. 


IndustryValuation Enterprise Value Compared to Sales Ratio

Industry Name

Number of firms

Price/Sales

Net Margin

EV/Sales

Pre-tax Operating Margin

Financial Services (Non-bank and Insurance)

223

2.18

26.32%

23.49

15.88%

R.E.I.T. 

223

6.35

23.77%

11.06

23.20%

Utility (Water)

16

6.43

25.12%

9.18

29.38%

Green & Renewable Energy

19

3.68

17.77%

7.79

24.48%

Software (System & Application)

390

7.14

14.61%

7.59

21.90%

Software (Internet)

33

5.57

-19.07%

6.33

-5.48%

Transportation (Railroads)

4

5.04

27.65%

6.32

39.86%

Information Services

73

5.77

16.62%

6.26

24.21%

Drugs (Biotechnology)

598

5.78

0.65%

6.18

11.87%

Healthcare Information and Technology

138

4.81

-0.33%

5.33

17.00%

Investments & Asset Management

600

4.15

24.93%

5.16

18.15%

Healthcare Products

254

4.73

7.00%

5.15

15.13%

Tobacco

15

4.19

23.46%

5.05

43.97%

Semiconductor

68

4.63

22.74%

4.98

25.44%

Drugs (Pharmaceutical)

281

4.38

18.35%

4.85

27.37%

Beverage (Soft)

31

4.16

14.60%

4.67

19.14%

Bank (Money Center)

7

2.55

26.96%

4.49

0.10%

Brokerage & Investment Banking

30

2.14

16.01%

4.46

0.31%

Banks (Regional)

557

3.2

30.31%

4.34

-0.10%

Utility (General)

15

2.47

12.68%

4.28

18.03%

Hotel/Gaming

69

2.75

1.10%

4.2

4.23%

Beverage (Alcoholic)

23

3.38

5.76%

4.07

20.17%

Restaurant/Dining

70

3.16

9.28%

4.07

12.80%

Real Estate (General/Diversified)

12

3.14

12.67%

4.02

18.60%

Power

48

2.14

9.17%

3.75

15.67%

Computers/Peripherals

42

3.41

16.68%

3.67

21.43%

Semiconductor Equip

30

3.43

22.27%

3.66

27.44%

Household Products

127

3.23

11.25%

3.65

17.12%

Software (Entertainment)

91

3.54

20.91%

3.59

25.65%

Telecom Equipment

79

3.31

13.29%

3.56

18.63%

Precious Metals

74

3.3

7.18%

3.55

10.10%

Shoe

13

3.06

11.17%

3.22

12.83%

Telecom (Wireless)

16

1.98

2.54%

3.18

12.37%

Entertainment

110

2.47

0.90%

3.06

7.44%

Environmental & Waste Services

62

2.44

7.29%

3.03

12.85%

Real Estate (Development)

18

1.42

15.04%

2.81

17.48%

Total Market

7165

1.95

8.89%

2.8

11.60%

Electrical Equipment

110

2.38

7.31%

2.77

10.25%

Machinery

116

2.28

8.51%

2.67

14.00%

Oil/Gas Distribution

23

1.54

2.08%

2.6

10.82%

Aerospace/Defense

77

2.1

4.05%

2.55

8.68%

Diversified

23

2.16

0.98%

2.5

3.59%

Chemical (Specialty)

76

2.05

8.07%

2.48

14.80%

Cable TV

10

1.19

7.91%

2.43

19.52%

Total Market (without financials)

5649

1.93

7.77%

2.35

12.03%

Telecom. Services

49

1.01

12.81%

2.18

19.95%

Insurance (General)

21

1.7

15.21%

2.16

21.86%

Construction Supplies

49

1.72

8.23%

2.15

11.16%

Oil/Gas (Production and Exploration)

174

1.83

26.01%

2.12

35.68%

Food Processing

92

1.66

7.10%

2.1

11.94%

Metals & Mining

68

1.86

9.66%

2.06

22.84%

Business & Consumer Services

164

1.69

4.92%

2.05

9.22%

Advertising

58

1.49

3.79%

1.96

11.11%

Retail (Building Supply)

15

1.64

8.67%

1.96

13.81%

Electronics (General)

138

1.73

6.32%

1.94

9.83%

Retail (Online)

63

1.63

0.64%

1.87

1.84%

Education

33

1.57

2.92%

1.85

5.16%

Auto and Truck

31

1.32

5.02%

1.81

6.49%

Recreation

57

1.22

1.30%

1.77

8.31%

Hospitals/Healthcare Facilities

34

0.85

5.31%

1.57

11.62%

Retail (Distributors)

69

1.06

7.30%

1.45

11.90%

Trucking

35

1.07

1.29%

1.45

9.18%

Coal & Related Energy

19

1.35

20.44%

1.43

22.17%

Insurance (Prop/Cas.)

51

1.21

4.05%

1.39

6.49%

Oil/Gas (Integrated)

4

1.31

15.17%

1.39

17.46%

Building Materials

45

1.1

10.30%

1.36

13.94%

Broadcasting

26

0.6

11.90%

1.33

14.75%

Insurance (Life)

27

0.83

6.07%

1.33

8.39%

Packaging & Container

25

0.79

6.06%

1.25

9.63%

Farming/Agriculture

39

0.94

5.66%

1.22

7.78%

Computer Services

80

0.93

2.53%

1.17

6.89%

Apparel

39

0.81

5.07%

1.16

11.11%

Publishing & Newspapers

20

0.88

2.82%

1.16

7.75%

Engineering/Construction

43

0.87

2.16%

1.08

4.69%

Transportation

18

0.89

6.99%

1.08

9.38%

Shipbuilding & Marine

8

0.82

21.55%

1.07

26.33%

Air Transport

21

0.42

-1.71%

1.02

2.08%

Real Estate (Operations and Services)

60

0.52

-0.76%

1

0.50%

Retail (Special Lines)

78

0.72

3.86%

0.97

5.74%

Office Equipment & Services

16

0.6

2.36%

0.93

6.26%

Chemical (Diversified)

4

0.64

13.16%

0.91

13.56%

Retail (Automotive)

30

0.59

4.07%

0.91

5.73%

Chemical (Basic)

38

0.63

9.70%

0.89

13.14%

Furn/Home Furnishings

32

0.6

2.03%

0.88

7.89%

Homebuilding

32

0.71

13.98%

0.85

18.79%

Auto Parts

37

0.62

2.16%

0.82

5.19%

Retail (General)

15

0.7

2.35%

0.81

4.12%

Electronics (Consumer and Office)

16

0.78

0.54%

0.78

2.11%

Paper/Forest Products

7

0.58

10.23%

0.77

18.59%

Healthcare Support Services

131

0.61

2.01%

0.69

4.00%

Steel

28

0.58

14.70%

0.68

19.89%

Reinsurance

1

0.58

3.54%

0.63

4.64%

Oilfield Svcs/Equip.

101

0.47

5.25%

0.58

7.37%

Rubber and  Tires

3

0.14

4.21%

0.55

5.84%

Food Wholesalers

14

0.29

1.09%

0.41

2.10%

Retail (Grocery and Food)

13

0.24

1.96%

0.37

2.92%

source: https://pages.stern.nyu.edu/~adamodar/pc/datasets/psdata.xls


The point is that, when one has a choice, choose to enter an industry with higher growth rates or higher valuation ratios or both. 


The same sort of relationship also holds for managerial success, once those choices have been made. It is easier to be a “hero” when one has worked in a fast-growing, more-profitable industry to begin with. The same amount of effort and talent is likely to produce consistently higher outcomes compared to the same effort and talent expended in a slow-growth, lower-valuation industry. 


Of course, one has to evaluate the particular valuation metrics used. Also, not every ranking, even using the same metric, will produce the same results. That can be the case when industries routinely rely on different amounts of debt financing, when “cost of goods” is disparate, or when a ranking is unrepresentative of all firms in an industry (focusing only the largest firms, for example). 


Industry

EV/Revenue

Publishing

31.54

EDP Services

23.45

Construction/Ag Equipment/Trucks

19.54

Computer Software: Prepackaged Software

17.81

Biotechnology: Biological Products (No Diagnostic Substances)

17.75

Real Estate Investment Trusts

17.62

Retail: Computer Software & Peripheral Equipment

17.18

Biotechnology: Electromedical & Electrotherapeutic Apparatus

16.85

Managed Health Care

14.97

Ophthalmic Goods

14.57

Business Services

14.37

Finance: Consumer Services

14.29

Real Estate

12.69

Auto Manufacturing

12.53

Multi-Sector Companies

10.34

Biotechnology: Commercial Physical & Biological Research

10.33

Medical/Dental Instruments

10.17

Advertising

9.96

Semiconductors

9.82

Investment Bankers/Brokers/Service

8.57

Oil & Gas Production

8.51

Hotels/Resorts

8.29

Beverages (Production/Distribution)

7.85

Major Pharmaceuticals

7.75

Other Consumer Services

7.38

Specialty Chemicals

7.31

Environmental Services

7.16

Industrial Machinery/Components

6.81

Misc Health and Biotechnology Services

6.78

Biotechnology: In Vitro & In Vivo Diagnostic Substances

6.68

Restaurants

6.62

Investment Managers

6.62

Industrial Specialties

6.54

Movies/Entertainment

6.51

Building operators

6.25

Telecommunications Equipment

6.19

Other Transportation

6.15

Diversified Commercial Services

6.08

Electrical Products

6.01

Television Services

5.95

Electric Utilities: Central

5.72

Radio And Television Broadcasting And Communications Equipment

5.59

Services or Misc. Amusement & Recreation

5.5

Savings Institutions

5.35

Rental/Leasing Companies

5.31

Water Supply

5.22

Internet and Information Services

5.19

Diversified Financial Services

5.15

Railroads

5.08

Biotechnology: Laboratory Analytical Instruments

5.03

Precision Instruments

5.01

Medical Specialties

4.89

Power Generation

4.74

Motor Vehicles

4.65

Oil/Gas Transmission

4.62

Specialty Foods

4.52

Military/Government/Technical

4.43

Assisted Living Services

4.41

Package Goods/Cosmetics

4.22

Diversified Manufacture

4.01

Metal Fabrications

3.98

Finance/Investors Services

3.94

Medical Electronics

3.86

Ordnance And Accessories

3.82

Wholesale Distributors

3.75

Office Equipment/Supplies/Services

3.66

Natural Gas Distribution

3.55

Broadcasting

3.49

Fluid Controls

3.46

Banks

3.46

Tools/Hardware

3.35

Oilfield Services/Equipment

3.29

Commercial Banks

3.24

Computer peripheral equipment

3.23

Major Chemicals

3.12

Medical/Nursing Services

3.11

Aerospace

3.06

Major Banks

3.04

Specialty Insurers

3.01

Life Insurance

2.91

Agricultural Chemicals

2.88

Paints/Coatings

2.85

Building Materials

2.84

Homebuilding

2.8

Air Freight/Delivery Services

2.79

Building Products

2.78

Computer Software: Programming Data Processing

2.68

Farming/Seeds/Milling

2.6

Other Metals and Minerals

2.56

Recreational Products/Toys

2.54

Catalog/Specialty Distribution

2.54

Shoe Manufacturing

2.5

Precious Metals

2.5

Other Specialty Stores

2.3

Consumer Electronics/Video Chains

2.24

Electronic Components

2.23

Computer Manufacturing

2.2

Steel/Iron Ore

2.19

Professional Services

2.18

Packaged Foods

2.17

Marine Transportation

2.12

Containers/Packaging

2.09

Electronics Distribution

2.07

Trucking Freight/Courier Services

2

Service to the Health Industry

2

Newspapers/Magazines

2

Consumer Electronics/Appliances

1.95

Meat/Poultry/Fish

1.93

Home Furnishings

1.93

Apparel

1.77

Auto Parts: O.E.M.

1.76

Integrated oil Companies

1.73

Hospital/Nursing Management

1.71

Pollution Control Equipment

1.65

Automotive Aftermarket

1.57

Aluminum

1.57

Coal Mining

1.54

Textiles

1.5

Department/Specialty Retail Stores

1.49

Food Distributors

1.47

Paper

1.4

Clothing/Shoe/Accessory Stores

1.35

Plastic Products

1.31

RETAIL: Building Materials

1.15

Engineering & Construction

1.09

Consumer Specialties

1.04

Property or Casualty Insurers

1.01

Transportation Services

0.99

Accident & Health Insurance

0.98

Oil Refining/Marketing

0.93

Tobacco

0.92

Other Pharmaceuticals

0.92

Finance Companies

0.91

Trusts Except Educational Religious and Charitable

0.79

Forest Products

0.51

Food Chains

0.31

source: https://eqvista.com/revenue-multiples-by-industry/




Sector

Industry Description

EV/Revenue

# Firms

Manufacturing

Biological Products, (No Diagnostic Substances)

20.64

165

Finance

Real Estate Investment Trusts

12.49

199

Manufacturing

In Vitro & In Vivo Diagnostic Substances

10.72

21

Finance

Investors, Nec

10.57

30

Finance

Real Estate

10.23

29

Manufacturing

Laboratory Analytical Instruments

10.03

29

Transportation

Water Supply

8.84

12

Manufacturing

Pharmaceutical Preparations

8.32

512

Services

Services-Consumer Credit Reporting, Collection Agencies

8.22

6

Manufacturing

Optical Instruments & Lenses

7.92

5

Services

Services-Prepackaged Software

7.87

205

Transportation

Railroads, Line-Haul Operating

7.49

6

Services

Services-Miscellaneous Amusement & Recreation

7.33

15

Services

Services-Offices & Clinics Of Doctors Of Medicine

7.11

7

Finance

Security & Commodity Brokers, Dealers, Exchanges & Services

7.03

10

Manufacturing

Surgical & Medical Instruments & Apparatus

6.95

106

Transportation

Communications Services, Nec

6.93

9

Services

Services-Health Services

6.58

9

Services

Services-Computer Programming, Data Processing, Etc.

6.55

59

Services

Hotels & Motels

6.5

26

Services

Services-Amusement & Recreation Services

6.37

18

Finance

Patent Owners & Lessors

6.24

10

Services

Services-Miscellaneous Equipment Rental & Leasing

5.98

6

Finance

Operators Of Nonresidential Buildings

5.72

6

Manufacturing

Industrial Instruments For Measurement, Display, And Control

5.63

13

Manufacturing

Measuring & Controlling Devices, Nec

5.57

10

Manufacturing

Miscellaneous Electrical Machinery, Equipment & Supplies

5.34

17

Services

Services-Commercial Physical & Biological Research

5.31

24

Manufacturing

Electromedical & Electrotherapeutic Apparatus

5.18

25

Manufacturing

Beverages

5.17

12

Manufacturing

Orthopedic, Prosthetic & Surgical Appliances & Supplies

5.17

25

Manufacturing

Medicinal Chemicals & Botanical Products

5.11

16

Retail

Retail-Building Materials, Hardware, Garden Supply

5.02

5

Transportation

Natural Gas Transmission

4.95

20

Finance

Surety Insurance

4.83

8

Retail

Retail-Eating & Drinking Places

4.81

6

Manufacturing

Aircraft

4.79

5

Manufacturing

Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics

4.67

5

Manufacturing

Dental Equipment & Supplies

4.66

5

Transportation

Refuse Systems

4.55

7

Transportation

Transportation Services

4.49

14

Transportation

Pipe Lines (No Natural Gas)

4.41

12

Transportation

Natural Gas Transmisison & Distribution

4.38

7

Finance

Personal Credit Institutions

4.36

11

Transportation

Water Transportation

4.31

19

Transportation

Electric & Other Services Combined

4.29

19

Services

Services-Computer Processing & Data Preparation

4.18

71

Manufacturing

Perfumes, Cosmetics & Other Toilet Preparations

4.17

12

Manufacturing

Computer Peripheral Equipment, Nec

4.13

16

Services

Services-Motion Picture & Video Tape Production

4.1

6

Transportation

Electric Services

4.03

45

Finance

Security Brokers, Dealers & Flotation Companies

4.03

26

Manufacturing

Search, Detection, Navagation, Guidance, Aeronautical Sys

3.97

5

Finance

Finance Services

3.93

27

Services

Services-Equipment Rental & Leasing, Nec

3.81

16

Manufacturing

Semiconductors & Related Devices

3.75

89

Manufacturing

Miscellaneous Food Preparations & Kindred Products

3.73

5

Manufacturing

Motors & Generators

3.69

5

Transportation

Natural Gas Distribution

3.67

11

Manufacturing

Electrical Industrial Apparatus

3.62

8

Mining

Gold And Silver Ores

3.6

51

Mining

Crude Petroleum & Natural Gas

3.59

86

Transportation

Cable & Other Pay Television Services

3.47

16

Finance

Mortgage Bankers & Loan Correspondents

3.43

6

Finance

Insurance Agents, Brokers & Service

3.42

17

Finance

Investment Advice

3.34

41

Manufacturing

Refrigeration & Service Industry Machinery

3.32

6

Services

Services-Home Health Care Services

3.29

8

Finance

Commercial Banks, Nec

3.25

22

Transportation

Deep Sea Foreign Transportation Of Freight

3.21

36

Manufacturing

Canned, Frozen & Preservd Fruit, Veg & Food Specialties

3.19

6

Manufacturing

Communications Equipment, Nec

3.17

14

Manufacturing

General Industrial Machinery & Equipment

3.12

8

Services

Services-Management Services

3.1

7

Mining

Metal Mining

2.98

28

Transportation

Air Transportation, Scheduled

2.98

20

Finance

Savings Institutions, Not Federally Chartered

2.93

17

Services

Services-Business Services, Nec

2.83

102

Services

Services-Medical Laboratories

2.83

27

Manufacturing

General Industrial Machinery & Equipment, Nec

2.81

6

Finance

Savings Institution, Federally Chartered

2.8

41

Manufacturing

Computer Communications Equipment

2.79

13

Manufacturing

Sugar & Confectionery Products

2.78

5

Finance

State Commercial Banks

2.72

159

Mining

Drilling Oil & Gas Wells

2.71

8

Manufacturing

Pumps & Pumping Equipment

2.71

8

Retail

Retail-Miscellaneous Retail

2.64

7

Manufacturing

Railroad Equipment

2.54

5

Manufacturing

Aircraft Engines & Engine Parts

2.51

5

Manufacturing

Agricultural Chemicals

2.5

13

Finance

National Commercial Banks

2.46

80

Services

Services-Computer Programming Services

2.46

27

Manufacturing

Photographic Equipment & Supplies

2.38

6

Services

Services-Computer Integrated Systems Design

2.38

29

Manufacturing

Computer Storage Devices

2.36

5

Services

Services-Miscellaneous Business Services

2.35

7

Manufacturing

Miscellaneous Fabricated Metal Products

2.34

11

Manufacturing

Special Industry Machinery, Nec

2.33

13

Manufacturing

Electronic & Other Electrical Equipment (No Computer Equip)

2.32

6

Transportation

Television Broadcasting Stations

2.31

10

Manufacturing

Household Audio & Video Equipment

2.28

10

Manufacturing

Sporting & Athletic Goods, Nec

2.26

7

Manufacturing

Electronic Components, Nec

2.25

12

Transportation

Radio Broadcasting Stations

2.25

12

Manufacturing

Food And Kindred Products

2.24

14

Services

Services-Misc Health & Allied Services, Nec

2.21

13

Mining

Mining & Quarrying Of Nonmetallic Minerals (No Fuels)

2.19

18

Finance

Real Estate Agents & Managers (For Others)

2.15

11

Manufacturing

Grain Mill Products

2.12

6

Services

Services-Advertising

2.12

10

Manufacturing

Apparel & Other Finishd Prods Of Fabrics & Similar Matl

2.08

11

Manufacturing

Metalworkg Machinery & Equipment

2.08

5

Transportation

Hazardous Waste Management

2.06

5

Manufacturing

Men'S & Boys' Furnishgs, Work Clothg, & Allied Garments

2.03

7

Services

Services-Personal Services

2.01

14

Retail

Retail-Eating Places

2

40

Manufacturing

Plastic Materials, Synth Resins & Nonvulcan Elastomers

1.96

12

Finance

Blank Checks

1.95

382

Manufacturing

Construction Machinery & Equip

1.94

7

Manufacturing

Electronic Components & Accessories

1.87

9

Manufacturing

Footwear, (No Rubber)

1.86

6

Manufacturing

Electronic Computers

1.86

7

Manufacturing

Telephone & Telegraph Apparatus

1.85

18

Manufacturing

Miscellaneous Chemical Products

1.82

8

Manufacturing

Chemicals & Allied Products

1.81

11

Manufacturing

Instruments For Meas & Testing Of Electricity & Elec Signals

1.8

11

Manufacturing

Miscellaneous Manufacturing Industries

1.77

9

Manufacturing

Engines & Turbines

1.74

7

Manufacturing

Farm Machinery & Equipment

1.72

5

Manufacturing

Ship & Boat Building & Repairing

1.72

7

Manufacturing

Malt Beverages

1.7

5

Manufacturing

Bottled & Canned Soft Drinks & Carbonated Waters

1.7

10

Services

Services-Management Consulting Services

1.69

17

Manufacturing

Ordnance & Accessories, (No Vehicles/Guided Missiles)

1.68

8

Manufacturing

Cement, Hydraulic

1.66

5

Manufacturing

Industrial Organic Chemicals

1.65

21

Transportation

Telephone Communications (No Radiotelephone)

1.63

24

Wholesale

Wholesale-Machinery, Equipment & Supplies

1.62

7

Manufacturing

Radio & Tv Broadcasting & Communications Equipment

1.58

28

Retail

Retail-Auto & Home Supply Stores

1.58

6

Transportation

Radiotelephone Communications

1.54

12

Manufacturing

Aircraft Parts & Auxiliary Equipment, Nec

1.53

7

Manufacturing

Electric Lighting & Wiring Equipment

1.5

7

Construction

General Bldg Contractors - Residential Bldgs

1.48

5

Manufacturing

Plastics Products, Nec

1.48

14

Manufacturing

Motor Vehicles & Passenger Car Bodies

1.41

29

Manufacturing

Industrial Inorganic Chemicals

1.38

10

Retail

Retail-Lumber & Other Building Materials Dealers

1.35

6

Finance

Accident & Health Insurance

1.35

5

Mining

Oil & Gas Field Services, Nec

1.29

24

Manufacturing

Fabricated Structural Metal Products

1.27

5

Finance

Fire, Marine & Casualty Insurance

1.27

51

Services

Services-General Medical & Surgical Hospitals, Nec

1.27

6

Services

Services-Engineering Services

1.27

8

Transportation

Trucking (No Local)

1.24

15

Manufacturing

Household Appliances

1.22

5

Manufacturing

Steel Works, Blast Furnaces & Rolling & Finishing Mills

1.21

7

Manufacturing

Paper Mills

1.14

8

Services

Services-Advertising Agencies

1.14

8

Manufacturing

Cutlery, Handtools & General Hardware

1.13

11

Retail

Retail-Family Clothing Stores

1.13

10

Construction

Construction - Special Trade Contractors

1.1

9

Manufacturing

Games, Toys & Children'S Vehicles (No Dolls & Bicycles)

1.09

5

Wholesale

Wholesale-Groceries & Related Products

1.06

7

Finance

Title Insurance

1.05

5

Wholesale

Wholesale-Drugs, Proprietaries & Druggists' Sundries

1.04

7

Manufacturing

Oil & Gas Field Machinery & Equipment

1.03

12

Retail

Retail-Variety Stores

1.02

11

Retail

Retail-Apparel & Accessory Stores

1.01

7

Construction

Operative Builders

0.96

18

Retail

Retail-Auto Dealers & Gasoline Stations

0.96

21

Manufacturing

Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)

0.93

13

Wholesale

Wholesale-Industrial Machinery & Equipment

0.92

5

Manufacturing

Newspapers: Publishing Or Publishing & Printing

0.9

5

Manufacturing

Petroleum Refining

0.9

20

Manufacturing

Rolling Drawing & Extruding Of Nonferrous Metals

0.87

7

Manufacturing

Household Furniture

0.85

12

Manufacturing

Motor Vehicle Parts & Accessories

0.84

34

Wholesale

Wholesale-Lumber & Other Construction Materials

0.83

5

Mining

Bituminous Coal & Lignite Surface Mining

0.82

5

Wholesale

Wholesale-Electronic Parts & Equipment, Nec

0.81

12

Retail

Retail-Home Furniture, Furnishings & Equipment Stores

0.8

6

Services

Services-Educational Services

0.79

37

Transportation

Arrangement Of Transportation Of Freight & Cargo

0.78

8

Retail

Retail-Catalog & Mail-Order Houses

0.76

27

Finance

Hospital & Medical Service Plans

0.73

10

Construction

Water, Sewer, Pipeline, Comm & Power Line Construction

0.71

5

Retail

Retail-Retail Stores, Nec

0.65

16

Retail

Retail-Miscellaneous Shopping Goods Stores

0.64

8

Finance

Life Insurance

0.64

20

Services

Services-Help Supply Services

0.64

20

Retail

Retail-Drug Stores And Proprietary Stores

0.63

6

Construction

Heavy Construction Other Than Bldg Const - Contractors

0.61

10

Transportation

Trucking & Courier Services (No Air)

0.42

5

Wholesale

Wholesale-Petroleum & Petroleum Products (No Bulk Stations)

0.4

5

Manufacturing

Printed Circuit Boards

0.38

13

Wholesale

Wholesale-Computers & Peripheral Equipment & Software

0.37

5

Retail

Retail-Grocery Stores

0.37

9

Wholesale

Wholesale-Groceries, General Line

0.18

7

source: https://www.eval.tech/valuation-multiples-by-industry


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