End Game

Variable
Number of firms

Gross Margin

Net Margin

Pre-tax, Pre-stock compensation

Operating Margin

Pre-tax Unadjusted Operating Margin

After-tax Unadjusted Operating Margin

Pre-tax Lease adjusted Margin

After-tax Lease Adjusted Margin

Pre-tax Lease & R&D adj Margin

After-tax Lease & R&D adj Margin

EBITDA/Sales

EBITDASG&A/Sales

COGS/Sales

R&D/Sales

SG&A/ Sales

Stock-Based Compensation/Sales

Lease Expense/Sales
Lease adjustment to operating income

R&D adjustment to operating income

Measures of profitability and costs, by industry

Explanation
Number of firms in the industry grouping.
Aggregated gross profits as a percent of aggregated revenues, across
companies in the group.
Aggregated net profits as a percent of aggregated revenues, across
companies in the group.
Aggregated operating profits, prior to taxes and stock compensation, as a
percent of aggregated revenues, across companies in the group.
Aggregated as-stated operating profits, prior to taxes, as a percent of
aggregated revenues, across companies in the group.
Aggregated as-stated operating profits, after netting effective taxes, as a
percent of aggregated revenues, across companies in the group.
Aggregated operating profits, adjusted for leases treated as debt, as a
percent of aggregated revenues, across companies in the group.
Aggregated operating profits, adjusted for leases treated as debt and
taxes, as a percent of aggregated revenues, across companies in the
group.

Aggregated operating profits, adjusted for leases treated as debt and R&D
as a capital expense, as a percent of aggregated revenues, across
companies in the group.

Aggregated operating profits, adjusted for leases treated as debt and R&D
as a capital expense, after effective taxes, as a percent of aggregated
revenues, across companies in the group.

Aggregated EBITDA as a percent of aggregated revenues, across

companies in the group.
Aggregated EBITDA, with SG&A added back, as a percent of aggregated
revenues, across companies in the group.
Aggregated cost of goods sold (COGS) as a percent of aggregated
revenues, across companies in the group.
Aggregated R&D costs as a percent of aggregated revenues, across
companies in the group.
Aggregated SG&A costs as a percent of aggregated revenues, across
companies in the group.
Aggregated stock-based compensation expensed, as a percent of
aggregated revenues, across companies in the group.
Aggregated current year's lease expense, as a percent of aggregated
revenues, across companies in the group.
Operating Income + Current year's lease exp - Lease Asset Depreciation

Operating Income + Current year's R&D exp - Amortization of R&D asset

Why?
Law of large numbers?
Profitability after subtracting out the direct cost of production, but before fixed costs, financial expenses
and taxes.
Profitability, after all expenses and taxes, accrusing to stocholders in the firm

Operating profitablity, prior to taxes and expenses associated with stock based compensation

Operating profitability, as measured in financial statements.

Operating profitability, after assuming taxes paid at effective tax rate, as measured in financial statements.

Operating profitability, with leases treated as debt, prior to taxes.

Operating profitability, with leases treated as debt, after paying taxes (at effective tax rate)

Operating profitability, with leases treated as debt and capitalized R&D, prior to taxes.

Operating profitability, with leases treated as debt and capitalized R&D, after paying taxes (at effective tax
rate)

Measure of pre-tax cash profitability of operations

Measure of pre-tax cash profitability, prior to SG&A expenses, of operations

Measure of direct costs of production, as percetn of sales, of products/services sold.

Measure of investment in long term growth by companies that derive their value from the products of R&D
(including patents and licenses).
Measure of SG&A costs as percent of sales.

Measure of expenses from stock-based compensation.

Measure of current year's lease expense, as percent of sales.

Lease expenses are financing, not operating expenses. Hence we add them back. Treating leases as debt
creates a lease asset, that needs to be depreciated. Hence the subtracting out of lease depreciation.

R&D is a capital, not an operating expense. Hence we add it back. Treating R&D as a capital asset creates
amortization over multiple perods. Hence we net out this amortization.
Date updated: 5-Jan-23
Created by: Aswath Damodaran, adamodar@stern.nyu.edu
What is this data? Profit margins (net, operating and EBITDA)
Home Page: http://www.damodaran.com
Data website: https://pages.stern.nyu.edu/~adamodar/New_Home_Page/data.html
Companies in each industry: https://pages.stern.nyu.edu/~adamodar/pc/datasets/indname.xls
Variable definitions: https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/varia
Gross Income
Based

Industry Name Number of firms Gross Margin

Advertising 135 20.44%
Aerospace/Defense 121 20.75%
Air Transport 79 5.74%
Apparel 919 24.78%
Auto & Truck 78 18.67%
Auto Parts 527 17.04%
Bank (Money Center) 459 99.17%
Banks (Regional) 91 99.67%
Beverage (Alcoholic) 123 57.35%
Beverage (Soft) 40 43.74%
Broadcasting 60 39.19%
Brokerage & Investment Banking 434 77.03%
Building Materials 250 26.86%
Business & Consumer Services 313 20.82%
Cable TV 33 43.14%
Chemical (Basic) 691 18.71%
Chemical (Diversified) 34 35.55%
Chemical (Specialty) 625 28.87%
Coal & Related Energy 93 41.04%
Computer Services 548 15.96%
Computers/Peripherals 220 20.94%
Construction Supplies 546 21.77%
Diversified 204 28.54%
Drugs (Biotechnology) 304 57.82%
Drugs (Pharmaceutical) 701 46.00%
Education 151 49.01%
Electrical Equipment 694 18.10%
Electronics (Consumer & Office) 81 17.10%
Electronics (General) 976 14.27%
Engineering/Construction 876 11.73%
Entertainment 329 56.25%
Environmental & Waste Services 183 25.48%
Farming/Agriculture 296 14.61%
Financial Svcs. (Non-bank & Insurance) 609 77.29%
Food Processing 946 21.40%
Food Wholesalers 98 13.58%
Furn/Home Furnishings 254 27.11%
Green & Renewable Energy 131 54.23%
Healthcare Products 340 50.37%
Healthcare Support Services 195 13.60%
Heathcare Information and Technology 117 43.55%
Homebuilding 42 21.46%
Hospitals/Healthcare Facilities 139 34.48%
Hotel/Gaming 412 39.29%
Household Products 300 44.65%
Information Services 90 37.69%
Insurance (General) 137 23.74%
Insurance (Life) 85 16.48%
Insurance (Prop/Cas.) 152 17.77%
Investments & Asset Management 483 55.37%
Machinery 865 23.94%
Metals & Mining 326 17.92%
Office Equipment & Services 73 29.57%
Oil/Gas (Integrated) 15 35.93%
Oil/Gas (Production and Exploration) 107 64.66%
Oil/Gas Distribution 105 10.28%
Oilfield Svcs/Equip. 229 12.88%
Packaging & Container 305 19.49%
Paper/Forest Products 188 22.08%
Power 317 15.11%
Precious Metals 71 22.55%
Publishing & Newspapers 171 33.26%
R.E.I.T. 261 74.08%
Real Estate (Development) 757 19.78%
Real Estate (General/Diversified) 220 35.35%
Real Estate (Operations & Services) 352 42.29%
Recreation 139 24.71%
Reinsurance 29 6.22%
Restaurant/Dining 141 29.77%
Retail (Automotive) 103 8.94%
Retail (Building Supply) 36 32.56%
Retail (Distributors) 642 7.06%
Retail (General) 122 30.01%
Retail (Grocery and Food) 75 24.54%
Retail (Online) 98 27.05%
Retail (Special Lines) 197 30.37%
Rubber& Tires 71 20.40%
Semiconductor 485 35.36%
Semiconductor Equip 253 32.76%
Shipbuilding & Marine 236 45.89%
Shoe 58 27.04%
Software (Entertainment) 57 48.07%
Software (Internet) 42 13.25%
Software (System & Application) 492 45.10%
Steel 519 17.71%
Telecom (Wireless) 59 50.10%
Telecom. Equipment 293 22.26%
Telecom. Services 138 51.68%
Tobacco 31 38.98%
Transportation 220 12.34%
Transportation (Railroads) 17 19.97%
Trucking 110 27.73%
Utility (General) 13 28.63%
Utility (Water) 71 36.26%
Total Market 24853 28.24%
Total Market (without financials) 22403 23.79%
dar@stern.nyu.edu
g and EBITDA) Emerging Markets
m
/~adamodar/New_Home_Page/data.html
/~adamodar/pc/datasets/indname.xls
/~adamodar/New_Home_Page/datafile/variable.htm

Net Income Based Operating Income Based

Pre-tax After-tax
Pre-tax, Pre-stock Unadjusted Unadjusted
compensation Operating Operating Operating
Net Margin Margin Margin Margin
3.18% 5.28% 4.96% 4.33%
6.14% 6.27% 6.14% 5.45%
-10.15% -2.35% -2.47% -2.30%
4.64% 7.24% 7.17% 6.11%
3.61% 3.57% 3.47% 3.02%
3.54% 3.91% 3.78% 3.21%
39.75% 0.11% 0.01% 0.01%
41.27% 0.06% 0.05% 0.04%
21.55% 28.69% 28.56% 23.35%
10.30% 15.27% 15.22% 12.81%
11.07% 12.81% 12.76% 10.90%
12.90% 0.93% 0.67% 0.58%
7.22% 9.14% 8.92% 7.45%
2.59% 4.81% 4.66% 4.12%
-3.65% 5.11% 4.96% 4.50%
7.28% 10.59% 9.75% 8.23%
12.07% 17.24% 17.06% 13.72%
12.47% 17.71% 17.61% 14.71%
18.69% 28.96% 28.94% 24.10%
5.92% 7.22% 7.09% 6.13%
5.78% 7.90% 7.74% 6.60%
4.84% 7.15% 7.08% 6.07%
8.08% 13.83% 13.80% 11.94%
2.21% 9.27% 6.96% 6.51%
9.21% 10.54% 10.16% 8.64%
6.07% 14.44% 13.80% 12.26%
5.10% 6.12% 6.00% 5.27%
1.55% 2.45% 2.41% 2.07%
4.71% 5.48% 5.33% 4.70%
2.75% 8.80% 4.68% 4.06%
3.84% 8.45% 7.47% 6.80%
5.59% 12.97% 12.92% 11.13%
4.11% 6.90% 6.87% 5.99%
21.74% 7.01% 6.64% 5.57%
4.35% 6.95% 6.86% 5.79%
2.38% 3.65% 3.58% 3.10%
7.72% 8.27% 8.09% 6.94%
23.66% 39.79% 39.73% 35.82%
18.34% 22.58% 21.74% 19.54%
2.30% 4.72% 4.60% 3.87%
17.23% 18.25% 16.38% 14.93%
6.64% 6.49% 6.33% 5.51%
9.60% 14.86% 14.61% 12.06%
-8.63% -0.52% -1.05% -0.97%
7.50% 10.11% 9.97% 8.65%
5.21% 14.34% 12.95% 10.57%
5.71% 8.21% 8.10% 6.90%
5.96% 3.19% 3.14% 2.71%
5.00% 4.69% 4.57% 3.81%
20.84% 23.21% 22.89% 21.09%
6.18% 7.89% 7.68% 6.63%
7.69% 11.55% 11.51% 9.88%
1.69% 4.04% 3.88% 3.31%
11.97% 22.13% 22.13% 17.13%
25.57% 39.45% 39.35% 33.66%
4.18% 5.89% 5.86% 5.09%
2.79% 5.11% 5.10% 4.35%
4.65% 6.62% 6.57% 5.57%
9.79% 12.08% 12.00% 10.27%
3.04% 7.26% 7.23% 6.18%
10.91% 16.96% 16.86% 14.74%
9.39% 8.05% 7.84% 6.92%
67.54% 63.49% 61.38% 59.33%
4.40% 10.56% 10.44% 8.74%
11.22% 17.68% 17.63% 15.18%
14.80% 25.05% 24.21% 20.76%
4.28% 6.89% 6.82% 6.02%
-1.58% -1.49% -1.72% -1.55%
1.82% 4.89% 4.68% 4.16%
1.99% 3.94% 3.89% 3.17%
5.35% 9.09% 8.94% 7.58%
1.46% 3.25% 3.23% 2.76%
2.39% 6.06% 6.02% 5.03%
1.84% 3.60% 3.58% 3.00%
-1.61% -1.70% -3.98% -3.56%
0.47% 5.29% 4.76% 4.01%
3.39% 4.25% 4.20% 3.56%
19.12% 21.67% 21.31% 19.01%
17.10% 20.07% 19.48% 16.76%
35.92% 39.82% 39.78% 34.80%
6.11% 6.46% 6.32% 5.35%
23.08% 18.78% 12.96% 11.66%
-0.42% 2.21% 1.08% 0.98%
-2.15% 4.67% 1.76% 1.60%
7.14% 9.32% 9.31% 7.85%
10.40% 14.43% 14.33% 11.52%
3.48% 4.30% 3.99% 3.62%
7.40% 12.35% 12.26% 10.48%
16.84% 21.07% 20.91% 16.03%
4.16% 6.98% 6.79% 5.69%
11.31% 19.91% 19.86% 15.83%
-3.58% 6.93% 5.27% 4.53%
14.08% 17.69% 17.65% 16.18%
11.90% 21.63% 21.61% 18.71%
8.64% 9.84% 9.42% 8.13%
6.83% 10.78% 10.32% 8.92%
rating Income Based EBITDA Based

Pre-tax After-tax Pre-tax After-tax

Lease Lease Lease & Lease &
adjusted Adjusted R&D adj R&D adj EBITDASG& EBITDAR&D
Margin Margin Margin Margin EBITDA/Sales A/Sales /Sales
4.97% 4.34% 5.07% 4.44% 8.14% 21.91% 9.54%
6.15% 5.46% 6.39% 5.69% 10.56% 19.63% 14.45%
-2.58% -2.41% -2.59% -2.41% 9.25% 17.02% 9.42%
7.19% 6.13% 7.21% 6.14% 9.87% 24.10% 10.60%
3.47% 3.02% 3.67% 3.21% 7.17% 16.68% 10.22%
3.79% 3.21% 3.89% 3.31% 8.19% 16.07% 11.29%
0.02% 0.02% 0.02% 0.02% 0.33% -537.43% 0.33%
0.07% 0.06% 0.07% 0.06% 0.06% 41.02% 0.06%
28.60% 23.39% 28.61% 23.40% 31.38% 52.37% 31.68%
15.22% 12.81% 15.24% 12.83% 19.13% 45.75% 19.25%
12.77% 10.90% 12.82% 10.96% 24.14% 45.06% 24.59%
0.67% 0.57% 0.68% 0.59% 1.18% 12.16% 1.32%
8.92% 7.45% 8.85% 7.38% 16.12% 30.24% 18.06%
4.70% 4.15% 4.64% 4.09% 7.61% 19.74% 9.07%
4.96% 4.50% 4.98% 4.52% 29.54% 52.81% 30.74%
9.76% 8.23% 9.85% 8.33% 16.94% 23.07% 18.15%
17.06% 13.72% 17.08% 13.74% 20.00% 30.07% 20.84%
17.61% 14.71% 17.76% 14.87% 17.39% 24.31% 19.12%
28.94% 24.10% 29.04% 24.19% 25.62% 33.02% 26.19%
7.09% 6.13% 7.08% 6.12% 8.70% 14.53% 9.80%
7.75% 6.61% 7.58% 6.44% 13.94% 22.71% 18.17%
7.08% 6.07% 6.95% 5.93% 15.72% 26.12% 17.92%
13.81% 11.94% 13.83% 11.96% 16.66% 26.33% 16.92%
6.98% 6.53% 8.30% 7.85% 17.09% 46.48% 36.25%
13.09% 11.14% 13.13% 11.17% 15.25% 42.15% 21.04%
13.87% 12.32% 12.90% 11.34% 21.25% 52.49% 22.41%
6.01% 5.28% 6.31% 5.58% 8.25% 16.39% 11.47%
2.41% 2.07% 2.28% 1.93% 8.30% 19.49% 12.50%
5.34% 4.71% 5.29% 4.65% 11.63% 16.79% 15.27%
4.68% 4.06% 4.66% 4.04% 6.31% 10.71% 8.47%
7.48% 6.81% 7.72% 7.04% 14.61% 52.79% 22.19%
12.93% 11.13% 12.86% 11.07% 21.21% 31.77% 22.85%
6.87% 5.99% 6.83% 5.95% 7.74% 14.46% 8.07%
6.65% 5.57% 6.75% 5.67% 9.03% 28.12% 9.69%
6.87% 5.80% 6.88% 5.81% 10.42% 23.65% 10.72%
3.58% 3.10% 3.58% 3.11% 4.22% 11.83% 4.23%
8.10% 6.95% 8.02% 6.87% 10.63% 25.96% 13.67%
39.70% 35.79% 39.73% 35.82% 61.72% 68.92% 61.95%
21.75% 19.55% 22.72% 20.51% 29.56% 50.47% 36.89%
4.61% 3.87% 4.61% 3.88% 5.71% 13.93% 6.14%
16.38% 14.94% 16.95% 15.50% 20.13% 38.18% 26.99%
6.34% 5.51% 6.43% 5.60% 9.13% 23.10% 9.43%
14.65% 12.10% 14.66% 12.11% 20.30% 33.33% 20.45%
-1.03% -0.94% -1.05% -0.97% 6.50% 27.22% 7.22%
9.98% 8.66% 9.91% 8.59% 16.39% 46.81% 17.72%
13.04% 10.65% 13.13% 10.74% 13.86% 32.00% 15.56%
8.10% 6.91% 8.10% 6.91% 10.62% 22.43% 10.62%
3.14% 2.71% 3.14% 2.71% 12.66% 22.57% 12.66%
4.58% 3.82% 4.58% 3.82% 6.99% 16.47% 6.99%
22.89% 21.09% 22.92% 21.12% 18.40% 32.69% 18.52%
7.68% 6.63% 7.65% 6.60% 11.86% 23.24% 15.56%
11.54% 9.91% 11.67% 10.03% 14.91% 17.94% 15.89%
3.88% 3.31% 3.85% 3.28% 7.72% 30.02% 9.26%
22.13% 17.13% 22.13% 17.13% 20.95% 25.85% 21.28%
39.36% 33.67% 39.31% 33.62% 41.53% 47.35% 42.04%
5.87% 5.10% 5.87% 5.10% 7.81% 10.64% 7.89%
5.10% 4.35% 5.14% 4.39% 7.07% 9.85% 7.34%
6.57% 5.58% 6.60% 5.60% 12.59% 21.86% 13.70%
12.00% 10.27% 11.95% 10.22% 17.71% 25.25% 18.67%
7.23% 6.18% 7.26% 6.22% 18.27% 22.64% 18.62%
16.86% 14.74% 16.90% 14.78% 24.78% 28.37% 25.27%
7.85% 6.92% 7.61% 6.68% 11.81% 34.31% 12.90%
61.38% 59.33% 61.38% 59.33% 47.74% 55.99% 47.74%
10.44% 8.74% 10.41% 8.71% 14.37% 21.73% 14.50%
17.56% 15.12% 17.74% 15.30% 23.12% 38.13% 24.40%
24.27% 20.81% 24.31% 20.85% 27.86% 43.56% 28.05%
6.82% 6.02% 6.90% 6.09% 13.62% 27.58% 15.24%
-1.72% -1.55% -1.72% -1.55% 3.56% 9.48% 3.56%
4.88% 4.34% 4.87% 4.33% 9.62% 27.05% 9.67%
3.89% 3.17% 3.89% 3.17% 5.82% 10.88% 5.83%
8.94% 7.58% 8.94% 7.58% 10.81% 31.70% 10.81%
3.23% 2.76% 3.24% 2.77% 4.33% 7.36% 4.45%
6.00% 5.01% 6.01% 5.03% 9.33% 30.87% 9.39%
3.59% 3.01% 3.61% 3.02% 5.59% 24.74% 5.67%
-3.88% -3.47% -3.15% -2.75% -4.44% 21.59% -0.05%
4.88% 4.12% 4.82% 4.06% 6.73% 30.79% 6.90%
4.20% 3.56% 4.09% 3.45% 12.63% 22.64% 14.59%
21.31% 19.02% 21.83% 19.54% 31.03% 37.32% 38.87%
19.48% 16.77% 20.05% 17.33% 19.77% 27.69% 24.81%
39.79% 34.80% 39.83% 34.84% 37.06% 41.29% 37.21%
6.33% 5.35% 6.30% 5.33% 8.05% 26.24% 9.79%
12.96% 11.66% 13.14% 11.84% 24.97% 57.95% 35.05%
1.13% 1.02% 1.27% 1.16% 3.67% 11.99% 7.28%
1.78% 1.62% 2.68% 2.52% 7.00% 34.51% 22.81%
9.31% 7.85% 9.29% 7.84% 19.41% 22.89% 20.71%
14.33% 11.52% 14.36% 11.55% 33.79% 47.09% 34.14%
4.00% 3.63% 3.98% 3.61% 5.61% 14.97% 13.92%
12.29% 10.51% 12.28% 10.50% 31.01% 44.44% 31.52%
20.91% 16.03% 21.08% 16.20% 26.10% 37.95% 26.86%
6.80% 5.70% 6.79% 5.69% 9.52% 14.17% 9.96%
19.88% 15.84% 19.86% 15.83% 31.29% 33.93% 31.39%
5.28% 4.54% 5.59% 4.85% 14.35% 29.23% 15.96%
17.65% 16.18% 17.66% 16.19% 28.64% 34.39% 28.71%
21.62% 18.72% 21.64% 18.73% 33.58% 45.87% 33.96%
9.45% 8.16% 9.49% 8.20% 13.62% -3.96% 15.09%
10.36% 8.96% 10.40% 9.00% 14.67% 23.11% 16.32%
 Expense Ratios

Stock-
Based Lease
SG&A/ Compensati Expense/Sal
COGS/Sales R&D/Sales Sales on/Sales es
79.56% 1.40% 13.78% 0.32% 0.59%
79.25% 3.89% 9.07% 0.13% 0.25%
94.26% 0.17% 7.77% 0.12% 2.90%
75.22% 0.73% 14.23% 0.08% 0.90%
81.33% 3.05% 9.51% 0.11% 0.17%
82.96% 3.10% 7.87% 0.13% 0.13%
0.83% 0.00% -537.75% 0.10% 0.70%
0.33% 0.00% 40.96% 0.01% 0.42%
42.65% 0.30% 20.99% 0.14% 0.26%
56.26% 0.12% 26.62% 0.05% 0.35%
60.81% 0.45% 20.92% 0.05% 1.36%
22.97% 0.13% 10.98% 0.25% 0.30%
73.14% 1.94% 14.13% 0.22% 0.27%
79.18% 1.46% 12.13% 0.14% 0.41%
56.86% 1.20% 23.27% 0.16% 0.82%
81.29% 1.21% 6.13% 0.84% 0.10%
64.45% 0.84% 10.07% 0.18% 0.13%
71.13% 1.74% 6.92% 0.10% 0.13%
58.96% 0.56% 7.39% 0.02% 0.94%
84.04% 1.10% 5.82% 0.13% 0.31%
79.06% 4.23% 8.78% 0.16% 0.06%
78.23% 2.20% 10.40% 0.06% 0.31%
71.46% 0.25% 9.67% 0.02% 0.29%
42.18% 19.15% 29.38% 2.31% 0.24%
54.00% 5.79% 26.90% 0.38% 0.21%
50.99% 1.15% 31.23% 0.64% 1.64%
81.90% 3.22% 8.14% 0.11% 0.14%
82.90% 4.20% 11.19% 0.04% 0.38%
85.73% 3.65% 5.16% 0.15% 0.13%
88.27% 2.15% 4.40% 4.12% 0.67%
43.75% 7.58% 38.19% 0.98% 0.48%
74.52% 1.65% 10.56% 0.05% 0.49%
85.39% 0.34% 6.72% 0.03% 0.31%
22.71% 0.66% 19.10% 0.36% 0.69%
78.60% 0.30% 13.24% 0.08% 0.26%
86.42% 0.02% 7.62% 0.06% 0.19%
72.89% 3.04% 15.32% 0.18% 0.29%
45.77% 0.23% 7.20% 0.06% 0.20%
49.63% 7.32% 20.90% 0.84% 0.49%
86.40% 0.43% 8.22% 0.11% 0.19%
56.45% 6.86% 18.05% 1.87% 0.16%
78.54% 0.30% 13.97% 0.16% 0.37%
65.52% 0.15% 13.03% 0.25% 0.52%
60.71% 0.71% 20.72% 0.54% 0.72%
55.35% 1.34% 30.43% 0.15% 0.28%
62.31% 1.71% 18.15% 1.39% 0.66%
76.26% 0.00% 11.81% 0.11% 0.07%
83.52% 0.00% 9.91% 0.05% 0.10%
82.23% 0.00% 9.49% 0.11% 0.10%
44.63% 0.12% 14.29% 0.32% 0.39%
76.06% 3.69% 11.37% 0.21% 0.22%
82.08% 0.99% 3.03% 0.04% 0.09%
70.43% 1.54% 22.30% 0.15% 0.37%
64.07% 0.33% 4.90% 0.00% 0.15%
35.34% 0.52% 5.82% 0.10% 0.59%
89.72% 0.08% 2.82% 0.03% 0.17%
87.12% 0.27% 2.78% 0.01% 0.58%
80.51% 1.12% 9.27% 0.05% 0.20%
77.92% 0.96% 7.54% 0.09% 0.16%
84.89% 0.35% 4.37% 0.03% 0.14%
77.45% 0.48% 3.59% 0.10% 0.43%
66.74% 1.09% 22.49% 0.21% 0.59%
25.92% 0.00% 8.25% 2.10% 0.15%
80.22% 0.13% 7.35% 0.12% 1.64%
64.65% 1.28% 15.01% 0.05% 0.22%
57.71% 0.18% 15.70% 0.84% 0.65%
75.29% 1.62% 13.96% 0.07% 0.57%
93.78% 0.00% 5.92% 0.23% 0.10%
70.23% 0.05% 17.43% 0.21% 3.38%
91.06% 0.01% 5.06% 0.05% 0.11%
67.44% 0.00% 20.89% 0.15% 0.73%
92.94% 0.12% 3.03% 0.02% 0.06%
69.99% 0.06% 21.54% 0.04% 0.48%
75.46% 0.08% 19.15% 0.02% 0.40%
72.95% 4.39% 26.03% 2.27% 0.54%
69.63% 0.17% 24.06% 0.53% 2.64%
79.60% 1.95% 10.01% 0.05% 0.15%
64.64% 7.83% 6.28% 0.36% 0.17%
67.24% 5.04% 7.92% 0.59% 0.13%
54.11% 0.15% 4.23% 0.03% 2.11%
72.96% 1.75% 18.20% 0.14% 1.46%
51.93% 10.08% 32.99% 5.82% 1.11%
86.75% 3.61% 8.32% 1.13% 0.57%
54.90% 15.82% 27.51% 2.91% 0.54%
82.29% 1.30% 3.48% 0.01% 0.16%
49.90% 0.36% 13.31% 0.09% 1.59%
77.74% 8.31% 9.36% 0.31% 0.22%
48.32% 0.51% 13.42% 0.09% 1.30%
61.02% 0.76% 11.84% 0.16% 0.21%
87.66% 0.44% 4.65% 0.19% 0.86%
80.03% 0.10% 2.65% 0.04% 2.72%
72.27% 1.61% 14.88% 1.66% 1.36%
71.37% 0.07% 5.74% 0.04% 0.11%
63.74% 0.38% 12.30% 0.02% 0.24%
71.76% 1.46% -17.58% 0.43% 0.45%
76.21% 1.64% 8.44% 0.47% 0.46%