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Relative PE Ratios - Technology & Industrial Sectors

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Data attempting to illustrate Larry Summer's comment on moving from a manufacturing economy to a services-based economy.
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1997 1998 1999 2000 2001 2002 2003 2004 2005 0.0x 10.0x 20.0x 30.0x 40.0x 50.0x 60.0x 70.0x 80.0x 90.0x 100.0x Tech PE / Indu Industrials Technology PE
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Page 1: Relative PE Ratios - Technology & Industrial Sectors

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110.0x

10.0x

20.0x

30.0x

40.0x

50.0x

60.0x

70.0x

80.0x

90.0x

100.0x

0.00x

0.25x

0.50x

0.75x

1.00x

1.25x

1.50x

1.75x

2.00x

2.25x

2.50x

Tech PE / Industrial PE

Industrials Technology PE Technology / PE Industrial

Page 2: Relative PE Ratios - Technology & Industrial Sectors

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110.0x

10.0x

20.0x

30.0x

40.0x

50.0x

60.0x

70.0x

80.0x

90.0x

100.0x

0.00x

0.25x

0.50x

0.75x

1.00x

1.25x

1.50x

1.75x

2.00x

2.25x

2.50x

Tech PE / Industrial PE

Industrials Technology PE Technology / PE Industrial

Page 3: Relative PE Ratios - Technology & Industrial Sectors

PE Technology / PE Industrial 2.1x 2.2x 1.6x 2.0x 1.4x

Year 1998 1999 2000 2001 2002Industrials P/E Ratio 23.3x 26.4x 29.1x 23.7x 37.0x

# of Firms 828 829 729 926 965Aerospace/Defense P/E Ratio 17.3x 18.9x 22.8x 18.8x 24.1xAerospace/Defense # of Firms 48 48 39 65 77Building Materials P/E Ratio 17.9x 14.4x 8.3x 12.9x 20.3xBuilding Materials # of Firms 57 57 37 52 53Engineering & Const P/E Ratio 29.0x 45.7x 49.6x 22.6x 44.1xEngineering & Const # of Firms 152 144 137 196 199Electrical Equipment P/E Ratio 31.4x 32.1x 37.7x 27.2x 64.3xElectrical Equipment # of Firms 104 103 81 92 94Industrial Services P/E Ratio 27.9x 25.6x 32.5x 35.4x 35.0xIndustrial Services # of Firms 157 175 173 212 206Machinery P/E Ratio 12.1x 15.9x 16.4x 17.4x 24.3xMachinery # of Firms 140 136 122 151 153Office Equip/Supplies P/E Ratio 27.5x 23.7x 10.0x 26.7x 62.8xOffice Equip/Supplies # of Firms 31 30 28 34 34Human Resources P/E Ratio 28.8x 32.3x 23.8x 22.0x 61.9xHuman Resources # of Firms 33 31 29 22 29Air Transport P/E Ratio 10.5x 11.5x 15.3x 10.8x 22.2xAir Transport # of Firms 44 42 36 45 43Maritime P/E Ratio 14.1x 13.1x 30.2x 11.8x 15.0xMaritime # of Firms 22 22 14 20 20Railroad P/E Ratio 16.4x 22.4x 14.4x 16.7x 24.8xRailroad # of Firms 15 17 16 16 16Trucking P/E Ratio 34.2x 30.4x 24.1x 25.7x 33.9xTrucking # of Firms 25 24 17 21 41

Year 1998 1999 2000 2001 2002Technology P/E Ratio 49.9x 57.2x 47.8x 46.5x 52.5x

# of Firms 1096 1143 1221 1279 1366Internet P/E Ratio N/A N/A N/A N/A 50.0Internet # of Firms N/A N/A N/A N/A 382Information Services P/E Ratio 27.9x 25.6x 32.5x 49.9x 57.4xInformation Services # of Firms 157 175 173 19 31Computer Software/Svcs P/E Ratio 61.0x 67.4x 52.1x 54.9x 43.4xComputer Software/Svcs # of Firms 355 368 399 468 454Computers/Peripherals P/E Ratio 61.0x 67.4x 52.1x 54.9x 67.1xComputers/Peripherals # of Firms 355 368 399 468 176Electronics P/E Ratio 29.0x 45.7x 49.6x 22.6x 44.1xElectronics # of Firms 152 144 137 196 199Semiconductor P/E Ratio 33.6x 53.2x 38.8x 22.0x 65.9xSemiconductor # of Firms 69 81 104 118 110Semiconductor Equip P/E Ratio 37.1x 57.4x 42.0x 15.5x 239.4x

Page 4: Relative PE Ratios - Technology & Industrial Sectors

Semiconductor Equip # of Firms 8 7 9 10 14

Source: Damodaran Online Home Page for Aswath Damodaranhttp://pages.stern.nyu.edu/~adamodar/Data PagePE Ratio by Sector

Raw Data: Value Line database, of 5928 firms

Page 5: Relative PE Ratios - Technology & Industrial Sectors

1.7x 1.3x 1.3x 1.3x 1.8x 2.1x 1.6x 1.3x

2003 2004 2005 2006 2007 2008 2009 201045.3x 69.2x 41.6x 42.0x 30.1x 13.4x 24.8x 53.8x

894 905 918 990 914 870 888 64550.2x 41.1x 37.2x 36.2x 39.6x 13.9x 31.6x 35.1x

72 67 70 73 69 66 67 6330.9x 32.2x 53.5x 29.6x 17.6x 12.1x 29.1x 72.4x

48 49 45 47 49 52 53 4756.6x 71.3x 44.3x 50.8x 31.1x 15.0x 24.6x 17.8x

181 179 175 186 179 173 183 1745.0x 46.4x 31.5x 32.9x 26.1x 25.6x 31.1x 46.9x

86 93 91 94 86 83 87 7933.0x 65.8x 36.9x 43.9x 29.7x 12.4x 25.2x 29.9x

190 200 207 230 196 167 168 13729.7x 136.2x 72.2x 53.2x 27.7x 9.9x 14.4x 51.5x

138 133 134 139 126 124 130 11420.3x 36.7x 20.8x 48.1x 25.8x 8.4x 23.2x 182.6x

31 28 27 26 25 26 25 24150.8x 116.4x 29.0x 39.6x 20.6x 7.8x 34.0x 169.0x

27 28 30 35 35 31 30 2480.9x 36.0x 33.1x 43.3x 64.2x 11.4x 25.0x 28.9x

43 46 45 56 49 44 44 4049.8x 63.9x 23.8x 20.6x 29.9x 9.2x 14.4x 41.6x

23 28 39 46 52 56 53 5324.7x 29.7x 29.4x 28.5x 20.7x 10.1x 38.7x 40.0x

16 18 18 20 16 15 15 1430.9x 46.9x 23.8x 24.7x 11.9x 13.7x 30.9x 83.9x

39 36 37 38 32 33 33 332003 2004 2005 2006 2007 2008 2009 201078.9x 88.6x 52.8x 55.2x 54.7x 27.6x 38.9x 70.6x1162 1181 1185 1267 1157 1000 1052 841

106.9 126.2 74.1 49.1 76.7 21.8 52.5 43.9289 297 306 329 266 208 239 180

54.9x 37.3x 38.6x 33.2x 35.6x 16.9x 19.6x 38.7x29 33 36 41 38 34 29 26

71.7x 73.2x 46.9x 52.9x 58.8x 46.8x 32.5x 50.2x387 389 395 425 376 322 333 247

66.2x 67.1x 44.6x 96.6x 32.5x 14.6x 30.3x 141.6x148 143 138 148 144 125 129 101

56.6x 71.3x 44.3x 50.8x 31.1x 15.0x 24.6x 47.5x181 179 175 186 179 173 183 158

71.2x 107.8x 45.8x 46.2x 64.5x 23.8x 65.2x 136.5x113 124 121 124 138 122 125 115

224.1x 105.7x 32.9x 31.6x 17.3x 7.5x 30.6x 39.9x

Page 6: Relative PE Ratios - Technology & Industrial Sectors

15 16 14 14 16 16 14 14

Page 7: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of Firms Current PE Trailing PE EPS Growth PEG Ratio

Advertising 25 55.11 49.12 17.83% 3.09 Aerospace/Defense 48 17.31 18.29 16.27% 1.06 Air Transport 44 10.55 10.24 12.50% 0.84 Aluminum 9 16.19 24.41 14.33% 1.13 Apparel 61 19.14 16.29 20.50% 0.93 Auto & Truck 20 14.36 29.86 15.00% 0.96 Auto Parts (OEM) 36 17.87 16.55 14.69% 1.22 Auto Parts (Replacement) 36 24.55 24.32 27.08% 0.91 Bank 162 23.48 21.87 12.91% 1.82 Bank (Canadian) 8 9.07 23.47 11.17% 0.81 Bank (Foreign) 2 28.63 28.63 15.75% 1.82 Bank (Midwest) 34 34.64 31.59 14.12% 2.45 Beverage (Alcoholic) 22 31.99 38.12 12.67% 2.53 Beverage (Soft Drink) 13 40.45 50.50 13.83% 2.92 Building Materials 57 17.87 14.88 14.86% 1.20 Cable TV 22 NA NA 14.00% NA Canadian Energy 15 17.64 31.19 10.42% 1.69 Cement & Aggregates 15 17.77 16.32 17.14% 1.04 Chemical (Basic) 18 13.25 21.99 4.42% 3.00 Chemical (Diversified) 35 17.69 19.34 9.41% 1.88 Chemical (Specialty) 89 15.95 20.32 9.72% 1.64 Coal/Alternate Energy 6 31.91 25.31 18.75% 1.70 Computer & Peripherals 166 41.04 49.79 19.18% 2.14 Computer Software & Svc 355 60.99 51.64 23.95% 2.55 Copper 7 5.66 18.99 2.50% 2.26 Diversified Co. 101 24.77 21.91 13.91% 1.78 Drug 229 58.88 74.57 20.25% 2.91 Drugstore 12 48.63 42.99 15.58% 3.12 Educational Services 21 52.16 38.21 24.70% 2.11 Electric Util. (Central) 36 18.08 18.38 5.65% 3.20 Electric Utility (East) 38 17.36 19.02 4.24% 4.09 Electric Utility (West) 19 16.04 17.80 2.71% 5.93 Electrical Equipment 104 31.40 31.75 13.21% 2.38 Electronics 152 28.97 42.71 15.23% 1.90 Entertainment 70 121.60 110.68 25.00% 4.86 Environmental 61 77.70 25.56 20.92% 3.71 Financial Services 101 34.25 42.07 18.15% 1.89 Food Processing 93 22.19 23.42 14.88% 1.49 Food Wholesalers 18 27.34 25.96 14.50% 1.89 Foreign Electron/Entertn 13 25.40 44.44 9.09% 2.79 Foreign Telecom. 19 35.81 46.67 14.86% 2.41 Furn./Home Furnishings 36 20.12 18.84 17.42% 1.16 Gold/Silver Mining 34 NA NA 14.00% NA

Page 8: Relative PE Ratios - Technology & Industrial Sectors

Grocery 29 37.42 39.74 13.50% 2.77 Healthcare Info Systems 32 52.51 44.11 23.40% 2.24 Home Appliance 15 34.93 29.35 16.83% 2.08 Homebuilding 66 19.17 14.39 20.00% 0.96 Hotel/Gaming 56 18.99 19.04 11.82% 1.61 Household Products 33 28.82 38.46 17.31% 1.66 Industrial Services 157 27.92 29.12 18.11% 1.54 Insurance (Diversified) 57 22.27 24.10 11.77% 1.89 Insurance (Life) 32 25.42 26.78 14.54% 1.75 Insurance (Prop/Casualty) 66 13.60 17.37 9.60% 1.42 Internet 28 NA NA 46.25% NA Investment Co. (Domestic 18 292.24 274.00 NA NA Investment Co. (Foreign) 24 131.24 268.37 NA NA Investment Co. (Income) 13 NA NA NA NA Machinery 140 12.11 12.24 11.52% 1.05 Manuf. Housing/Rec Veh 21 15.57 14.45 12.75% 1.22 Maritime 22 14.10 15.78 28.38% 0.50 Medical Services 191 26.09 26.09 11.19% 2.33 Medical Supplies 210 40.22 42.06 18.17% 2.21 Metal Fabricating 42 15.87 28.06 11.63% 1.36 Metals & Mining (Div.) 29 22.98 31.26 10.40% 2.21 Natural Gas (Distrib.) 54 16.85 22.02 7.96% 2.12 Natural Gas (Diversified) 41 21.02 43.12 15.10% 1.39 Newspaper 20 30.13 33.15 13.10% 2.30 Office Equip & Supplies 31 27.49 28.51 14.30% 1.92 Oilfield Services/Equip. 93 14.76 13.84 19.17% 0.77 Packaging & Container 33 21.17 25.60 13.64% 1.55 Paper & Forest Products 63 37.42 33.04 9.79% 3.82 Petroleum (Integrated) 41 15.77 19.84 10.92% 1.44 Petroleum (Producing) 104 24.53 427.73 13.32% 1.84 Precision Instrument 101 27.40 43.65 16.00% 1.71 Publishing 57 30.94 38.11 12.82% 2.41 R.E.I.T. 87 165.19 17.37 25.75% 6.42 Railroad 15 16.43 30.18 11.86% 1.39 Recreation 90 30.55 32.76 18.03% 1.69 Restaurant 90 29.08 27.83 17.56% 1.66 Retail (Special Lines) 172 28.59 27.80 18.49% 1.55 Retail Building Supply 14 66.73 52.61 18.21% 3.66 Retail Store 49 32.41 47.46 15.55% 2.08 Securities Brokerage 35 17.08 19.57 12.13% 1.41 Semiconductor 69 33.57 96.96 14.17% 2.37 Semiconductor Cap Equip 8 37.12 48.45 11.50% 3.23 Shoe 26 13.51 18.36 18.19% 0.74 Steel (General) 31 9.19 11.27 12.62% 0.73

Page 9: Relative PE Ratios - Technology & Industrial Sectors

Steel (Integrated) 20 20.30 31.07 7.93% 2.56 Telecom. Equipment 100 61.66 68.17 23.92% 2.58 Telecom. Services 131 54.29 206.29 18.48% 2.94 Textile 27 14.46 19.12 14.33% 1.01 Thrift 120 23.92 20.06 17.53% 1.36 Tire & Rubber 10 12.84 12.76 9.90% 1.30 Tobacco 16 17.63 17.29 9.30% 1.90 Toiletries/Cosmetics 25 34.18 38.03 18.21% 1.88 Trucking/Transp. Leasing 51 14.90 12.24 19.53% 0.76 Utility (Foreign) 2 22.63 37.71 13.25% 1.71 Water Utility 17 20.68 19.98 8.00% 2.58

Page 10: Relative PE Ratios - Technology & Industrial Sectors

Beta Payout Market Value Revenues Net Inc TTM Net Income Book Equity

1.16 23.23% 43390.6397 16690.4996 883.3999 787.3599 5429.5594

1.01 29.46% 96118.1187 125581.699 5256.22 5551.9299 41862.0998

1.26 5.20% 81928.1883 149302.348 8002.1497 7768.4296 34878.3891

1.01 38.94% 25943.2697 36023.8998 1062.6999 1602.71 12818.86

0.99 14.62% 24635.129 31937.9981 1512.2699 1287.2 10042.1897

1.04 57.04% 386119.435 358546.03 12933.0799 26890.31 157602.788

0.91 22.74% 37359.9794 65531.4493 2257.02 2090.34 15719.4295

0.85 44.81% 23058.6298 27726.6988 948.0999 939.3599 7389.8096

0.89 32.69% 660602.463 0 30200.3994 28133.5495 171466.997

0.99 75.01% 66605.159 89.8 2838 7344 42587.03

1.10 37.86% 62019.3281 0 2166 2166 12618

0.92 41.96% 227552.73 0 7203.3996 6569.3894 43659.669

0.77 60.13% 55056.9688 28834.5002 1444.3 1720.9399 17313.7598

0.98 47.57% 269338.23 58576.1597 5333.0799 6658.34 19986.9799

0.94 18.20% 36132.2587 59152.7981 2427.7999 2022.0598 12340.3896

1.10 -2.98% 64730.4211 21249.2991 -1903.4998 -2026.1798 -382.7001

0.89 80.54% 44061.7793 42070.0298 1412.5797 2497.8998 26328.8595

0.92 16.72% 16618.2297 10046.9999 1018.1999 934.9299 5812.9296

0.95 53.79% 100512.52 68488.1998 4570.9 7584.0999 24546.13

0.94 48.56% 139119.179 118580.799 7194.3796 7862.2895 45235.1892

0.92 38.75% 75235.9978 70635.298 3702.8998 4717.1497 25371.6986

0.83 1.97% 11224.4597 5639.1999 443.5 351.73 2426.2

1.32 8.31% 788090.428 315500.947 15827.0896 19204.4098 91538.1986

1.40 4.40% 757513.833 147456.597 14668.1195 12419.4597 71242.8275

1.00 144.02% 6469.4197 11996.6997 340.7 1143.77 8153.3397

0.94 21.39% 204083.258 177522.597 9313.1096 8237.8798 52862.8888

1.21 69.21% 1200017.62 144965.329 16091.6798 20380.64 96394.1593

0.99 22.46% 65012.519 51443.7001 1512.0999 1336.77 9038.9798

1.14 0.94% 10695.2597 3562.5997 279.9 205.06 1919.2197

0.63 81.07% 119959.399 115615.598 6525.1995 6636.5095 63325.7391

0.66 81.15% 169470.409 127309.3 8909.2993 9763.9694 82401.4992

0.67 71.39% 59185.9297 61436.4988 3324.3997 3689.6099 33030.4395

1.12 37.58% 443923.475 169782.198 13979.73 14138.4998 65895.0699

1.18 20.04% 83930.9072 75627.5976 1964.9902 2897.0599 26734.8188

1.01 42.02% 221738.499 80081.7783 2003.4699 1823.5199 63124.3984

0.96 7.67% 53839.7795 32390.1998 2105.9998 692.9398 11433.2897

1.24 27.06% 396728.122 99920.9183 9430.5495 11583.5093 75818.1184

0.79 41.86% 349832.385 298577.249 14937.2396 15763.9695 88015.6975

0.80 20.75% 36185.1993 98388.6 1393.81 1323.32 9354.4097

0.87 40.33% 200372.809 160679.719 4508.6398 7887.8094 121041.35

1.11 72.21% 629368.513 181932.049 13485.0295 17574.8696 132468.7

1.01 17.36% 22354.4496 23803.2992 1186.32 1110.95 6629.8798

0.60 NA 29727.1893 7717.1996 -3.27 -23.12 12520.0797

Page 11: Relative PE Ratios - Technology & Industrial Sectors

0.79 24.44% 122602.619 188037.198 3084.7498 3276.74 18435.8698

1.19 7.89% 33181 6256.7497 752.1799 631.95 3559.0899

0.93 40.94% 17152.2495 22580.8994 584.4 491 5441.06

0.98 17.53% 24855.4491 39951.5986 1727.12 1296.68 11959.509

1.07 8.89% 39699.0285 36941.8086 2084.8799 2090.28 21440.0192

0.97 47.80% 225275.841 86901.4999 5858.0998 7817.4697 25022.1397

1.09 14.96% 91233.3773 101694.697 3133.2198 3267.7899 27068.6884

0.93 19.12% 215980.309 15543.9998 8961.4897 9698.9497 73406.8403

0.98 22.51% 175441.821 0 6550.8995 6902.8598 53343.2988

0.91 22.02% 147987.649 30.5 8521.4393 10881.7696 75055.1284

1.82 NA 149927.808 6442.9999 -1.15 -145.74 2760.2899

0.83 52.13% 10795.5095 549.99 39.4 36.94 389.61

1.11 NA 5206.3596 294.08 19.4 39.67 1576.7999

0.56 NA 7981.7599 0 0 0 0

0.96 19.18% 92503.2864 135437.799 7558.3998 7640.1497 40350.008

0.91 10.06% 7765.2699 13517.7996 537.5 498.59 3120.86

0.99 35.60% 6011.3698 10912.4893 381 426.2 5439.6798

1.15 10.70% 143820.529 186014.478 5511.4897 5511.69 63875.7482

1.09 31.33% 382738.156 154408.947 9099.7895 9516.4295 47479.4088

0.98 30.67% 25951.7494 28390.7392 924.9399 1635.68 10028.4996

0.88 92.85% 34695.2891 30705.4492 1109.9 1509.84 25378.5496

0.64 91.18% 33968.0086 35073.6984 1542.5999 2015.5098 17117.5191

0.93 76.00% 78909.9198 98638.5995 1829.9999 3754.5798 32888.0596

0.92 38.42% 111623.819 51470.9492 3366.9995 3705.0795 26425.5595

1.06 26.00% 97256.9122 74241.2589 3411.5 3537.84 19427.8892

1.15 10.56% 94341.9884 72563.0075 6816.5798 6392.9192 38959.278

0.92 28.06% 31453.6187 39530.3993 1228.65 1485.5399 10246.3695

0.94 74.48% 94546.8675 132656.698 2861.32 2526.7599 52531.2989

0.90 55.53% 767728.795 637945.78 38692.5799 48678.44 310255.09

0.90 74.23% 50578.5183 27539.4991 118.25 2061.8199 28604.6787

1.10 51.31% 60871.0882 38139.4187 1394.4499 2221.8 14882.6992

0.98 66.59% 71368.0591 38291.0495 1872.8998 2306.3199 12257.5798

0.81 7.22% 75256.7772 117881.699 4333.1197 455.58 5258.8597

1.06 59.26% 65663.1998 43872.9998 2175.92 3995.88 33638.1898

0.98 22.33% 76886.2792 35935.0991 2347 2516.5499 18303.3192

1.01 10.56% 91281.5275 56233.7478 3280.0698 3138.86 18255.8688

1.13 12.07% 149619.304 181348.496 5382.2598 5233.0097 39248.9677

1.08 8.83% 115936.198 51199.7587 2203.5198 1737.33 11853.02

1.15 29.94% 336485.88 389673.129 7089.2999 10383.37 69437.4698

1.27 10.91% 132704.61 120420.7 6781.8498 7771.2098 38300.2596

1.54 17.03% 362545.18 86941.8989 3738.9999 10799.4599 59258.4495

1.63 0.50% 38357.3304 8259.9997 791.7 1033.3999 5957.7498

0.97 23.57% 12376.7196 20492.8993 674.1 916.44 6019.5699

0.92 21.95% 12134.5096 28406.799 1076.7999 1319.69 9541.2798

Page 12: Relative PE Ratios - Technology & Industrial Sectors

0.95 94.79% 21165.2299 34674.6998 681.2 1042.5699 21675.2894

1.41 7.56% 221757.507 66750.3986 3253.1001 3596.6 29032.4297

1.22 67.54% 975755.26 282222.879 4729.9502 17974.0703 135140.779

0.94 23.29% 8398.5995 17376.9996 439.2 580.7199 4485.0197

0.94 21.01% 200844.128 29.7 10013.4296 8394.8099 49079.3787

0.98 23.47% 15102.5497 22173.5003 1183.6 1176.44 6516.2699

0.81 57.48% 182321.498 140104.999 10544.6599 10339.23 28963.5799

1.03 36.15% 75286.5597 26502.1989 1979.5 2202.36 7339.3297

0.96 8.46% 20959.8092 48597.2983 1712.7499 1406.61 10509.8793

1.02 53.16% 52196.1991 7639 1384 2306.03 19953.5498

0.61 63.77% 8237.3398 3217.5097 412.3399 398.35 3770.6899

Page 13: Relative PE Ratios - Technology & Industrial Sectors

EPS growth

17.8333333

16.2666667

12.5

14.3333333

20.5

15

14.6944444

27.0833333

12.9142857

11.1666667

15.75

14.125

12.6666667

13.8333333

14.8611111

14

10.4166667

17.1428571

4.41666667

9.40909091

9.72222222

18.75

19.1833333

23.9459459

2.5

13.90625

20.25

15.5833333

24.7

5.65151515

4.24242424

2.70588235

13.2105263

15.2307692

25

20.9166667

18.1521739

14.8846154

14.5

9.09090909

14.8571429

17.4166667

14

Page 14: Relative PE Ratios - Technology & Industrial Sectors

13.5

23.4

16.8333333

20

11.8181818

17.3125

18.1136364

11.7692308

14.5416667

9.59615385

46.25

#DIV/0!

#DIV/0!

#DIV/0!

11.5227273

12.75

28.375

11.1923077

18.1666667

11.625

10.4

7.95652174

15.1

13.1

14.3

19.1666667

13.6363636

9.79166667

10.9230769

13.3181818

16

12.8214286

25.75

11.8571429

18.0294118

17.5555556

18.4903846

18.2142857

15.55

12.125

14.1666667

11.5

18.1875

12.6153846

Page 15: Relative PE Ratios - Technology & Industrial Sectors

7.92857143

23.9230769

18.4772727

14.3333333

17.5333333

9.9

9.3

18.2142857

19.5333333

13.25

8

Page 16: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of Firms Price/Current EPS Price/Trailing EPS Expected Growth

Advertising 28 54.08 60.07 18.64%Aerospace/Defense 48 18.88 18.87 13.72%Air Transport 42 11.50 12.32 10.73%Alternate Energy 5 29.07 35.07 17.00%Aluminum 9 22.60 26.53 17.33%Apparel 60 15.44 14.96 14.75%Auto & Truck 21 16.51 30.96 13.94%Auto Parts (OEM) 35 21.62 20.26 12.41%Auto Parts (Replacement) 34 21.42 19.31 19.42%Bank 189 18.93 18.32 12.16%Bank (Canadian) 7 9.30 9.38 10.58%Bank (Foreign) 2 31.93 31.93 13.25%Bank (Midwest) 37 19.74 18.92 13.28%Beverage (Alcoholic) 20 34.98 44.24 12.17%Beverage (Soft Drink) 15 40.29 45.13 9.94%Building Materials 57 14.38 13.68 13.94%Cable TV 21 NA NA 12.50%Canadian Energy 15 37.12 69.41 14.17%Cement & Aggregates 15 14.71 14.99 12.58%Chemical (Basic) 16 22.34 25.53 5.00%Chemical (Diversified) 34 19.92 22.20 10.50%Chemical (Specialty) 88 19.78 20.96 9.55%Computer & Peripherals 161 54.39 48.41 21.32%Computer Software & Svc 368 67.38 54.82 21.44%Copper 7 32.63 49.47 19.75%Diversified Co. 107 30.19 29.12 12.57%Drug 239 48.24 49.73 17.95%Drugstore 10 38.99 35.86 17.70%Educational Services 21 30.55 30.28 19.43%Electric Util. (Central) 36 14.38 14.28 7.19%Electric Utility (East) 39 14.91 15.18 5.33%Electric Utility (West) 19 15.84 15.36 3.53%Electrical Equipment 103 32.12 31.50 12.32%Electronics 144 45.71 54.46 17.67%Entertainment 73 99.84 99.89 17.79%Environmental 57 30.71 27.17 18.30%Financial Services 120 23.51 23.31 16.43%Food Processing 97 18.73 20.49 13.12%Food Wholesalers 22 27.79 26.97 14.07%Foreign Electron/Entertn 13 32.43 56.41 8.64%Foreign Telecom. 16 38.07 46.44 15.68%Furn./Home Furnishings 41 17.75 18.35 16.23%Gold/Silver Mining 32 90.97 104.59 14.20%

Page 17: Relative PE Ratios - Technology & Industrial Sectors

Grocery 26 30.15 29.78 14.25%Healthcare Info Systems 32 53.60 52.09 15.70%Home Appliance 13 21.42 20.96 17.67%Homebuilding 64 12.24 10.87 18.21%Hotel/Gaming 58 21.23 20.07 15.39%Household Products 31 32.35 30.38 14.50%Industrial Services 175 25.63 23.92 21.17%Insurance (Diversified) 64 24.85 24.19 10.25%Insurance (Life) 33 18.05 17.44 12.96%Insurance (Prop/Casualty) 65 21.34 21.40 9.68%Internet 79 NA NA 62.00%Investment (Domestic) 7 10.93 10.96 NAInvestment Co. 20 NA NA NAInvestment Co. (Foreign) 21 172.35 168.02 NAMachinery 136 15.95 18.61 12.17%Manuf. Housing/Rec Veh 21 12.40 16.37 13.50%Maritime 22 13.07 14.76 23.60%Medical Services 194 21.42 22.11 18.59%Medical Supplies 203 41.28 37.74 18.97%Metal Fabricating 41 20.24 20.88 11.79%Metals & Mining (Div.) 28 45.82 71.84 29.80%Natural Gas (Distrib.) 52 23.03 20.43 8.13%Natural Gas (Diversified) 38 35.80 35.46 10.98%Newspaper 20 31.87 32.24 11.83%Office Equip & Supplies 30 23.70 24.62 11.95%Oilfield Services/Equip. 84 18.17 23.11 9.83%Packaging & Container 33 24.56 26.95 11.73%Paper & Forest Products 59 36.89 34.48 14.15%Petroleum (Integrated) 46 29.16 33.60 12.13%Petroleum (Producing) 92 147.66 NA 16.67%Precision Instrument 99 27.52 31.65 15.83%Publishing 54 34.20 49.87 13.81%R.E.I.T. 161 376.20 22.53 19.25%Railroad 17 22.39 21.07 14.43%Recreation 91 34.37 35.08 16.64%Restaurant 96 30.13 29.00 16.04%Retail (Special Lines) 177 30.99 30.71 19.25%Retail Building Supply 13 52.20 46.91 17.08%Retail Store 48 32.49 31.83 15.40%Securities Brokerage 32 25.80 20.47 12.77%Semiconductor 81 53.18 50.76 19.60%Semiconductor Cap Equip 7 57.41 79.40 15.14%Shoe 25 22.02 25.05 15.75%Steel (General) 30 11.63 15.02 10.00%

Page 18: Relative PE Ratios - Technology & Industrial Sectors

Steel (Integrated) 19 30.20 40.07 9.71%Telecom. Equipment 106 88.22 84.00 23.82%Telecom. Services 151 63.06 64.44 17.24%Textile 27 11.49 14.95 10.10%Thrift 131 18.73 17.87 14.97%Tire & Rubber 10 14.69 16.76 8.90%Tobacco 13 17.51 17.09 7.60%Toiletries/Cosmetics 24 30.36 29.90 16.88%Trucking/Transp. Leasing 51 13.97 13.47 15.47%Utility (Foreign) 2 19.98 33.29 13.50%Water Utility 17 18.73 18.68 7.58%

Page 19: Relative PE Ratios - Technology & Industrial Sectors

Payout Beta

24.64% 1.07

24.56% 0.93

5.27% 1.11

11.85% 0.69

16.61% 0.89

13.10% 0.87

28.61% 0.95

31.62% 0.80

40.90% 0.73

45.56% 0.81

36.10% 0.98

24.10% 1.18

42.13% 0.83

50.87% 0.64

55.10% 0.80

19.26% 0.85

NA 1.01

94.99% 0.78

18.86% 0.81

49.38% 0.87

39.96% 0.81

32.96% 0.83

15.54% 1.14

5.42% 1.22

60.08% 0.84

28.32% 0.83

45.11% 1.06

24.75% 0.94

3.20% 0.90

73.59% 0.53

68.15% 0.54

68.69% 0.56

42.07% 0.99

10.07% 1.05

12.89% 0.95

7.79% 0.81

29.52% 1.07

32.35% 0.72

24.77% 0.79

17.39% 0.86

44.00% 1.07

14.06% 0.90

56.84% 0.53

Page 20: Relative PE Ratios - Technology & Industrial Sectors

19.97% 0.72

15.07% 0.95

26.04% 0.88

18.56% 0.87

16.15% 0.93

41.98% 0.84

16.86% 0.99

20.96% 0.84

20.56% 0.92

22.67% 0.80

NA 1.51

47.48% 0.59

NA 0.63

### 1.02

23.65% 0.86

10.35% 0.83

24.97% 0.88

7.54% 1.01

34.95% 0.95

20.77% 0.90

61.20% 0.77

### 0.59

55.09% 0.82

33.85% 0.83

26.84% 0.96

14.44% 1.08

26.32% 0.82

71.64% 0.83

70.45% 0.78

### 0.80

30.24% 0.98

40.78% 0.89

93.14% 0.74

38.74% 0.87

25.76% 0.88

11.44% 0.86

11.33% 1.02

12.46% 0.93

20.59% 1.05

16.73% 1.28

5.61% 1.34

0.50% 1.53

21.39% 0.82

23.43% 0.85

Page 21: Relative PE Ratios - Technology & Industrial Sectors

58.19% 0.84

6.83% 1.21

77.68% 1.11

10.26% 0.82

30.15% 0.84

26.12% 0.93

67.04% 0.75

39.22% 0.88

9.72% 0.85

18.81% 0.95

65.69% 0.55

Page 22: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of Firms Price/Current EPS Price/Trailing EPS Expected Growth

Advertising 30 60.95 79.55 27.25%Aerospace/Defense 39 22.76 21.45 16.80%Air Transport 36 15.29 16.20 12.56%Apparel 41 10.25 10.46 12.96%Auto & Truck 19 15.00 14.47 11.32%Auto Parts (OEM) 29 6.92 6.76 8.74%Auto Parts (Replacement) 26 8.59 11.32 13.55%Bank 170 15.60 15.61 10.57%Bank (Canadian) 7 11.07 12.63 12.75%Bank (Foreign) 2 29.00 29.00 13.00%Bank (Midwest) 32 15.72 16.36 10.14%Beverage (Alcoholic) 19 22.73 20.81 13.52%Beverage (Soft Drink) 13 41.28 38.88 15.94%Building Materials 37 8.27 8.42 14.84%Cable TV 22 NA NA 15.92%Canadian Energy 15 26.11 11.91 25.42%Cement & Aggregates 13 11.24 12.40 10.06%Chemical (Basic) 15 17.38 15.61 7.00%Chemical (Diversified) 32 25.94 24.40 14.34%Chemical (Specialty) 78 17.83 17.58 9.68%Computer & Peripherals 138 44.36 37.87 28.25%Computer Software & Svc 399 52.10 61.40 31.37%Diversified Co. 92 20.75 19.56 12.86%Drug 287 56.75 50.70 28.12%Drugstore 10 148.32 1541.14 16.43%E-Commerce 6 NA NA 64.75%Educational Services 27 111.19 92.58 23.43%Electric Util. (Central) 32 15.73 15.02 10.57%Electric Utility (East) 34 16.18 17.98 7.60%Electric Utility (West) 20 20.57 18.65 11.61%Electrical Equipment 81 37.71 33.02 22.38%Electronics 137 49.56 36.99 25.05%Entertainment 91 112.41 96.07 20.04%Environmental 50 16.74 20.77 17.32%Financial Svcs. (Div.) 185 24.89 21.88 16.65%Food Processing 86 15.15 17.75 13.73%Food Wholesalers 23 27.02 24.83 14.00%Foreign Electron/Entertn 13 50.26 77.44 17.56%Foreign Telecom. 14 51.01 58.95 14.42%Furn./Home Furnishings 33 10.14 10.51 13.80%Gold/Silver Mining 30 93.94 117.49 12.81%Grocery 26 21.41 20.35 11.48%Healthcare Info Systems 32 51.90 123.19 18.52%

Page 23: Relative PE Ratios - Technology & Industrial Sectors

Home Appliance 12 9.24 8.87 16.36%Homebuilding 54 11.48 10.41 14.88%Hotel/Gaming 52 31.50 22.08 16.72%Household Products 29 23.80 27.11 12.71%Industrial Services 173 32.46 27.25 22.59%Insurance (Life) 30 16.77 17.95 11.14%Insurance (Prop/Casualty 56 27.46 28.46 10.74%Internet 309 NA NA 46.77%Investment Co. 25 408.67 347.15 9.50%Investment Co. (Foreign) 20 78.70 51.73 0.00%Machinery 122 16.41 14.58 12.70%Manuf. Housing/Rec Veh 20 8.79 15.75 5.03%Maritime 14 30.17 24.78 18.00%Medical Services 156 27.85 26.97 19.95%Medical Supplies 182 35.01 32.99 22.44%Metal Fabricating 38 16.85 15.96 14.54%Metals & Mining (Div.) 36 23.95 14.69 17.45%Natural Gas (Distrib.) 36 19.76 15.21 9.28%Natural Gas (Diversified 35 43.62 27.93 20.93%Newspaper 18 31.60 28.23 12.93%Office Equip & Supplies 28 10.04 13.73 9.65%Oilfield Services/Equip. 71 99.47 76.46 21.05%Packaging & Container 36 13.75 12.16 11.62%Paper & Forest Products 48 18.18 12.93 17.37%Petroleum (Integrated) 42 22.95 18.90 15.03%Petroleum (Producing) 92 65.30 22.73 21.26%Precision Instrument 85 29.65 27.10 21.15%Publishing 43 25.59 38.53 19.99%R.E.I.T. 143 278.33 3.75 8.62%Railroad 16 14.39 13.23 12.70%Recreation 81 21.53 21.84 20.46%Restaurant 90 23.33 12.65 17.81%Retail (Special Lines) 191 18.23 19.11 20.14%Retail Building Supply 11 41.18 35.76 15.21%Retail Store 31 25.97 24.30 13.17%Securities Brokerage 27 21.44 12.61 17.56%Semiconductor 104 38.83 26.59 33.99%Semiconductor Cap Equip 9 42.01 19.51 36.44%Shoe 26 18.43 16.66 17.11%Steel (General) 30 15.06 15.47 11.59%Steel (Integrated) 18 7.54 16.39 15.14%Telecom. Equipment 112 65.53 72.22 30.97%Telecom. Services 164 69.69 76.41 29.07%Textile 25 23.57 24.10 7.58%

Page 24: Relative PE Ratios - Technology & Industrial Sectors

Thrift 124 14.15 13.84 11.89%Tire & Rubber 10 11.51 12.84 9.07%Tobacco 11 12.90 12.89 7.79%Toiletries/Cosmetics 17 24.14 24.27 10.77%Trucking/Transp. Leasing 45 6.91 6.24 14.06%Utility (Foreign) 2 9.20 28.61 10.50%Water Utility 13 18.06 16.97 8.44%Wireless Networking 69 NA NA 36.54%Market 5761 30.46 27.29 20.30%

Page 25: Relative PE Ratios - Technology & Industrial Sectors

Payout Beta

28.35% 1.31

25.17% 0.82

2.27% 1.04

10.87% 0.82

12.75% 0.89

15.04% 0.92

26.39% 0.67

43.43% 0.78

0.00% 1.11

0.00% 1.27

37.07% 0.85

36.40% 0.54

43.95% 0.76

12.66% 0.85

0.00% 1.29

1.39% 0.77

18.29% 0.75

56.07% 0.97

24.44% 0.80

30.43% 0.77

8.25% 1.36

4.81% 1.37

17.86% 0.82

50.39% 0.90

57.84% 0.91

0.00% 3.30

3.17% 0.84

66.02% 0.53

62.38% 0.58

49.91% 0.61

52.43% 0.96

2.64% 1.10

33.16% 0.95

1.76% 0.69

23.10% 0.97

22.98% 0.68

15.08% 0.70

0.00% 0.99

0.00% 1.27

18.57% 0.84

8.90% 0.60

15.35% 0.70

9.33% 0.87

Page 26: Relative PE Ratios - Technology & Industrial Sectors

19.31% 0.91

16.92% 0.82

29.92% 0.84

40.85% 0.78

13.61% 0.92

12.31% 0.87

28.45% 0.79

0.00% 2.57

79.05% 0.58

0.00% 1.16

29.02% 0.78

6.66% 0.81

39.98% 0.82

4.49% 0.85

31.73% 0.83

23.70% 0.81

26.29% 0.91

64.69% 0.62

50.03% 0.70

21.98% 0.82

16.72% 0.89

54.36% 1.14

15.37% 0.82

40.82% 0.78

27.37% 0.75

24.94% 0.71

18.20% 0.90

23.39% 0.79

19.33% 0.69

25.01% 0.77

22.72% 0.86

9.29% 0.75

7.92% 1.18

13.63% 0.90

15.33% 1.03

15.72% 1.20

7.07% 1.70

0.00% 2.12

16.68% 0.86

37.05% 0.78

8.26% 1.04

5.72% 1.39

72.32% 1.45

17.11% 0.79

Page 27: Relative PE Ratios - Technology & Industrial Sectors

30.03% 0.78

39.43% 0.87

53.57% 0.59

39.63% 1.05

22.36% 0.86

0.00% 1.39

48.56% 0.55

0.00% 1.7726.68% 0.87

Page 28: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of Firms Price/Current EPS Price/Trailing EPS Expected Growth

Advertising 36 60.36 NA 15.21%Aerospace/Defense 65 18.84 39.11 14.15%Air Transport 45 10.82 NA 14.08%Apparel 54 22.99 53.05 11.49%Auto & Truck 21 10.35 61.74 10.70%Auto Parts 65 10.70 49.32 9.40%Bank 446 28.73 35.61 10.64%Bank (Canadian) 8 28.19 29.04 11.92%Bank (Foreign) 3 39.61 39.61 13.00%Bank (Midwest) 36 41.21 34.17 9.64%Beverage (Alcoholic) 24 18.86 46.34 11.89%Beverage (Soft Drink) 19 36.87 70.30 21.67%Biotechnology 76 465.40 NA 33.80%Building Materials 52 12.94 36.92 14.57%Cable TV 27 NA NA 19.35%Canadian Energy 13 10.72 20.72 12.15%Cement & Aggregates 15 15.78 38.23 9.17%Chemical (Basic) 25 12.29 60.16 10.83%Chemical (Diversified) 33 21.25 54.39 11.37%Chemical (Specialty) 86 18.81 52.29 9.88%Coal 6 29.67 54.32 6.50%Computer & Peripherals 171 26.78 96.52 21.31%Computer Software & Svc 468 54.86 133.80 24.71%Diversified Co. 103 20.17 45.68 11.26%Drug 286 35.30 147.23 28.99%E-Commerce 27 NA NA 28.70%Educational Services 36 106.26 164.35 26.53%Electric Util. (Central) 30 14.88 26.89 8.63%Electric Utility (East) 32 16.26 27.19 7.85%Electric Utility (West) 17 NA NA 8.92%Electrical Equipment 92 27.23 53.92 16.91%Electronics 196 22.64 104.57 19.87%Entertainment 96 131.78 NA 19.03%Entertainment Tech 12 NA NA 38.75%Environmental 80 26.29 50.95 20.38%Financial Svcs. (Div.) 224 40.06 39.18 15.20%Food Processing 116 20.29 53.00 13.66%Food Wholesalers 25 23.99 39.62 16.85%Foreign Electron/Entertn 14 27.11 117.01 13.17%Foreign Telecom. 20 194.03 96.05 17.06%Furn./Home Furnishings 33 14.88 44.85 12.19%Gold/Silver Mining 38 74.76 102.86 14.15%Grocery 29 19.88 37.82 13.81%

Page 29: Relative PE Ratios - Technology & Industrial Sectors

Healthcare Info Systems 33 NA NA 21.44%Home Appliance 18 12.05 35.97 11.38%Homebuilding 57 13.12 20.98 13.34%Hotel/Gaming 85 20.61 37.17 14.24%Household Products 33 22.38 53.05 9.77%Human Resources 22 22.00 74.80 14.73%Industrial Services 212 35.39 84.83 17.67%Information Services 19 49.91 188.59 17.29%Insurance (Life) 32 31.50 33.40 10.56%Insurance (Prop/Casualty 54 166.69 275.36 13.34%Internet 421 NA NA 34.47%Investment Co. 25 23.99 26.52 7.50%Investment Co. (Foreign) 18 56.05 383.64 NAMachinery 151 17.45 56.39 13.81%Manuf. Housing/Rec Veh 20 64.60 NA 10.20%Maritime 20 11.84 23.62 18.13%Medical Services 208 31.10 56.36 22.82%Medical Supplies 225 39.78 74.57 23.28%Metal Fabricating 46 18.57 46.88 16.09%Metals & Mining (Div.) 45 17.88 78.01 17.75%Natural Gas (Distrib.) 36 13.41 24.09 10.74%Natural Gas (Diversified 38 14.14 21.14 20.15%Newspaper 21 41.52 120.34 11.09%Office Equip & Supplies 34 26.74 124.03 17.43%Oilfield Services/Equip. 88 25.59 88.93 22.76%Packaging & Container 43 17.14 42.67 13.07%Paper & Forest Products 48 13.29 71.33 16.81%Petroleum (Integrated) 38 10.51 20.91 10.45%Petroleum (Producing) 139 10.69 18.51 18.84%Pharmacy Services 15 113.94 123.49 21.59%Power 19 21.85 35.76 27.50%Precision Instrument 109 19.14 124.28 20.16%Publishing 45 23.88 134.28 13.96%R.E.I.T. 153 57.99 36.12 7.59%Railroad 16 16.73 36.39 11.93%Recreation 87 23.82 52.50 15.34%Restaurant 94 20.78 41.56 19.23%Retail (Special Lines) 188 25.57 71.15 16.68%Retail Building Supply 11 45.68 82.79 13.90%Retail Store 66 29.59 66.41 11.87%Securities Brokerage 28 24.38 26.65 9.15%Semiconductor 118 22.02 136.10 23.25%Semiconductor Cap Eq 10 15.50 58.28 21.36%Shoe 27 22.06 45.66 12.93%

Page 30: Relative PE Ratios - Technology & Industrial Sectors

Steel (General) 31 14.55 NA 10.90%Steel (Integrated) 19 9.71 NA 8.31%Telecom. Equipment 141 42.15 NA 25.00%Telecom. Services 208 44.34 NA 24.16%Textile 24 22.11 NA 9.18%Thrift 117 30.03 25.71 11.63%Tire & Rubber 19 18.28 53.42 8.31%Tobacco 13 12.80 26.88 6.98%Toiletries/Cosmetics 21 25.72 56.39 9.85%Trucking/Transp. Leasing 43 24.37 60.47 12.62%Utility (Foreign) 7 11.57 44.79 13.50%Water Utility 16 22.71 42.41 8.33%Wireless Networking 80 NA NA 25.07%Market 7254 28.56 66.62 15.64%

Page 31: Relative PE Ratios - Technology & Industrial Sectors

Payout Beta

18.57% 1.72

13.30% 0.78

2.86% 1.11

19.71% 0.86

11.28% 0.95

9.36% 0.87

42.52% 0.67

39.92% 0.92

30.23% 1.15

43.52% 0.76

15.31% 0.55

22.62% 0.68

0.00% 1.10

9.68% 0.83

NA 1.24

12.77% 0.73

13.78% 0.71

19.09% 0.86

15.45% 0.76

15.22% 0.78

28.55% 0.78

3.93% 1.77

4.11% 1.81

11.59% 0.82

21.03% 1.04

NA 3.34

1.10% 0.90

36.49% 0.54

32.37% 0.57

NA 0.60

24.07% 1.25

1.99% 1.28

8.72% 1.35

NA 1.94

1.45% 0.75

21.16% 0.96

17.76% 0.63

12.27% 0.69

8.88% 1.25

128.92% 1.59

9.75% 0.81

36.99% 0.36

6.14% 0.66

Page 32: Relative PE Ratios - Technology & Industrial Sectors

NA 0.96

11.02% 0.92

6.94% 0.81

4.75% 0.90

19.91% 0.77

3.24% 1.02

9.92% 0.82

23.35% 1.13

20.82% 0.85

31.72% 0.82

NA 2.50

81.92% 0.62

72.38% 1.10

15.21% 0.78

17.43% 0.83

31.09% 0.76

2.83% 0.84

16.06% 0.86

11.78% 0.83

14.76% 0.96

25.29% 0.59

16.90% 0.74

21.59% 0.82

12.91% 0.84

18.32% 0.95

7.24% 0.82

18.01% 0.83

11.81% 0.81

5.48% 0.74

24.11% 0.92

11.19% 1.29

7.41% 1.20

14.76% 0.85

13.55% 0.65

12.18% 0.76

12.43% 0.90

4.64% 0.77

4.59% 1.01

7.64% 0.86

8.72% 0.92

12.83% 1.27

2.57% 2.35

0.00% 2.24

7.94% 0.85

Page 33: Relative PE Ratios - Technology & Industrial Sectors

15.29% 0.79

9.72% 1.08

2.20% 1.86

40.01% 1.59

8.37% 0.82

34.25% 0.72

16.54% 0.90

28.02% 0.60

20.14% 0.84

15.00% 0.84

18.85% 0.80

33.24% 0.49

NA 2.5017.60% 0.89

Page 34: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of Firms Price/Current EPS Price/Trailing EPS Expected Growth

Advertising 38 19.87 13.89 18.88%Aerospace/Defense 77 24.14 22.79 15.83%Air Transport 43 22.21 31.10 16.86%Apparel 58 16.91 29.09 12.05%Auto & Truck 23 29.91 18.32 9.58%Auto Parts 62 47.07 13.09 13.21%Bank 462 20.96 16.62 10.56%Bank (Canadian) 8 12.51 11.63 10.92%Bank (Foreign) 6 11.02 15.92 11.00%Bank (Midwest) 32 14.99 14.41 10.20%Beverage (Alcoholic) 23 30.32 32.39 12.31%Beverage (Soft Drink) 22 28.71 21.68 20.67%Biotechnology 91 57.33 56.86 28.09%Building Materials 53 20.27 18.78 16.20%Cable TV 26 86.58 96.10 14.10%Canadian Energy 12 11.16 12.81 6.69%Cement & Aggregates 17 13.67 14.17 9.13%Chemical (Basic) 22 28.68 27.49 18.19%Chemical (Diversified) 34 17.78 18.03 9.41%Chemical (Specialty) 96 31.02 24.37 13.01%Coal 8 49.22 32.69 8.67%Computer Software/Svcs 454 43.37 63.99 19.27%Computers/Peripherals 176 67.07 60.75 16.65%Diversified Co. 106 48.16 22.60 12.99%Drug 288 36.26 54.51 25.01%E-Commerce 42 81.69 58.24 22.54%Educational Services 37 30.76 24.51 21.07%Electric Util. (Central) 28 13.88 11.68 5.18%Electric Utility (East) 29 12.49 13.72 5.30%Electric Utility (West) 16 10.05 12.78 4.12%Electrical Equipment 94 64.27 141.26 13.76%Electronics 199 44.15 41.34 15.82%Entertainment 98 52.14 67.63 19.96%Entertainment Tech 29 171.43 113.51 33.64%Environmental 86 26.98 23.20 17.58%Financial Svcs. (Div.) 235 22.02 17.72 12.70%Food Processing 114 80.78 80.63 12.86%Food Wholesalers 25 15.53 21.66 14.17%Foreign Electronics 14 61.91 97.08 15.10%Foreign Telecom. 19 19.74 26.28 4.43%Furn/Home Furnishings 36 41.72 28.38 13.45%Grocery 30 16.09 35.23 15.88%Healthcare Information 36 38.51 25.42 21.77%

Page 35: Relative PE Ratios - Technology & Industrial Sectors

Home Appliance 21 20.17 15.70 14.12%Homebuilding 49 21.76 23.91 13.08%Hotel/Gaming 95 26.28 34.44 15.33%Household Products 33 19.05 16.43 11.10%Human Resources 29 61.86 46.79 19.18%Industrial Services 206 34.96 29.02 15.91%Information Services 31 57.40 24.05 16.84%Insurance (Life) 37 16.27 15.20 12.29%Insurance (Prop/Cas.) 59 30.14 23.87 16.34%Internet 382 50.03 44.91 25.78%Investment Co. 24 14.20 23.09 6.25%Investment Co.(Foreign) 17 22.92 37.16 #DIV/0!Machinery 153 24.34 30.83 13.99%Manuf. Housing/RV 21 91.24 15.42 15.26%Maritime 20 14.99 18.04 15.88%Medical Services 227 31.00 38.07 21.01%Medical Supplies 243 46.18 70.47 23.06%Metal Fabricating 46 20.63 22.01 15.87%Metals & Mining (Div.) 56 38.32 56.29 15.40%Natural Gas (Distrib.) 32 15.91 17.23 9.15%Natural Gas (Div.) 42 10.65 29.71 9.15%Newspaper 20 70.58 37.36 14.58%Office Equip/Supplies 34 62.82 50.37 10.89%Oilfield Svcs/Equip. 88 20.72 34.46 17.36%Packaging & Container 42 21.14 21.94 14.66%Paper/Forest Products 44 36.96 39.30 18.68%Petroleum (Integrated) 35 16.13 32.89 4.15%Petroleum (Producing) 136 20.02 39.68 12.26%Pharmacy Services 16 24.95 21.85 19.34%Power 23 6.68 6.75 9.93%Precious Metals 43 81.52 87.95 15.61%Precision Instrument 115 32.89 26.57 17.12%Publishing 43 24.81 18.56 15.24%R.E.I.T. 152 12.83 1.78 6.46%Railroad 16 24.84 72.88 13.88%Recreation 88 30.77 29.26 14.38%Restaurant 95 21.52 18.71 19.20%Retail (Special Lines) 199 25.55 18.26 16.68%Retail Building Supply 11 24.91 11.63 14.70%Retail Store 67 19.17 16.39 13.70%Securities Brokerage 25 19.20 17.45 8.77%Semiconductor 110 65.90 88.12 19.31%Semiconductor Equip 14 239.37 135.55 12.41%Shoe 28 22.10 16.43 13.05%

Page 36: Relative PE Ratios - Technology & Industrial Sectors

Steel (General) 31 27.98 13.69 11.44%Steel (Integrated) 16 36.71 9.89 17.00%Telecom. Equipment 147 61.39 42.71 15.84%Telecom. Services 190 21.15 35.83 18.73%Textile 21 12.30 37.57 29.70%Thrift 147 18.15 15.22 10.89%Tire & Rubber 18 16.86 15.49 13.33%Tobacco 13 11.93 9.16 9.57%Toiletries/Cosmetics 25 18.96 16.61 12.24%Trucking 41 33.94 40.86 14.05%Utility (Foreign) 6 13.47 17.34 7.50%Water Utility 17 26.09 25.83 6.82%Wireless Networking 77 406.27 38.01 27.54%Grand Total 7440 33.37 32.76 15.62%

Page 37: Relative PE Ratios - Technology & Industrial Sectors

Payout Beta

16.32% 1.39

13.71% 0.80

NA 1.42

33.41% 0.91

54.61% 1.06

50.97% 0.91

55.25% 0.67

0.00% 0.89

36.52% 1.15

44.14% 0.78

15.78% 0.56

21.27% 0.63

0.00% 1.10

15.92% 0.84

NA 1.66

4.48% 0.73

11.83% 0.78

87.12% 0.87

21.82% 0.81

26.57% 0.83

24.80% 1.17

8.69% 1.92

20.40% 2.08

11.39% 0.83

50.38% 1.14

NA 3.06

0.68% 1.16

32.67% 0.73

27.89% 0.68

12.65% 0.72

56.29% 1.48

NA 1.48

NA 1.20

NA 2.17

1.34% 0.78

24.44% 0.94

54.27% 0.66

7.22% 0.69

NA 1.09

NA 1.57

15.33% 0.87

7.40% 0.68

NA 1.01

Page 38: Relative PE Ratios - Technology & Industrial Sectors

15.67% 0.93

8.05% 0.85

7.08% 0.91

20.10% 0.80

7.10% 1.00

19.12% 0.85

1.90% 1.10

30.57% 0.89

72.97% 0.85

NA 2.47

77.42% 0.65

7.00% 1.13

37.78% 0.80

12.52% 0.91

8.35% 0.83

2.66% 0.87

30.26% 0.88

17.42% 0.92

41.60% 1.05

33.56% 0.62

13.65% 0.87

35.30% 0.92

13.70% 0.98

28.66% 1.01

9.32% 0.84

51.90% 0.84

29.86% 0.84

5.39% 0.79

7.21% 0.90

8.86% 1.66

23.42% 0.38

29.35% 1.36

245.41% 1.01

22.24% 0.68

11.49% 0.82

12.44% 0.90

5.46% 0.77

5.35% 1.01

7.78% 0.94

20.30% 0.96

19.51% 1.41

49.34% 2.68

0.00% 2.47

8.54% 0.93

Page 39: Relative PE Ratios - Technology & Industrial Sectors

NA 0.78

NA 0.91

NA 2.28

308.19% 1.62

NA 0.86

31.34% 0.67

28.15% 1.01

31.34% 0.71

23.20% 0.83

1011.45% 0.86

28.55% 0.85

15.70% 0.56

NA 2.1237.68% 0.99

Page 40: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of FirmsAggregate Market Cap/ Aggregate Net Income

Advertising 34 37.87

Aerospace/Defense 72 21.74

Air Transport 43 NA

Apparel 59 22.70

Auto & Truck 21 15.59

Auto Parts 62 16.91

Bank 504 19.15

Bank (Canadian) 7 20.45

Bank (Foreign) 4 18.60

Bank (Midwest) 43 16.30

Beverage (Alcoholic) 24 21.92

Beverage (Soft Drink) 17 25.02

Biotechnology 84 973.03

Building Materials 48 NA

Cable TV 24 NA

Canadian Energy 10 19.01

Cement & Aggregates 14 20.15

Chemical (Basic) 16 39.45

Chemical (Diversified) 33 24.12

Chemical (Specialty) 95 24.75

Coal 8 58.35

Computer Software/Svcs 387 36.15

Computers/Peripherals 148 38.13

Diversified Co. 102 22.50

Drug 276 32.29

E-Commerce 41 NA

Educational Services 34 79.40

Electric Util. (Central) 27 17.83

Electric Utility (East) 29 14.97

Electric Utility (West) 15 43.73

Electrical Equipment 86 23.97

Electronics 181 NA

Entertainment 84 173.38

Entertainment Tech 32 196.86

Environmental 77 22.81

Financial Svcs. (Div.) 231 18.57

Food Processing 104 18.41

Food Wholesalers 22 22.52

Foreign Electronics 13 60.11

Foreign Telecom. 19 NA

Furn/Home Furnishings 36 21.08

Grocery 25 12.24

Healthcare Information 35 265.64

Page 41: Relative PE Ratios - Technology & Industrial Sectors

Home Appliance 15 14.21

Homebuilding 44 13.96

Hotel/Gaming 80 31.72

Household Products 32 20.34

Human Resources 27 63.37

Industrial Services 190 30.47

Information Services 29 37.32

Insurance (Life) 45 17.06

Insurance (Prop/Cas.) 69 33.92

Internet 289 NA

Investment Co. 22 35.93

Investment Co.(Foreign) 17 32.62

Machinery 138 38.06

Manuf. Housing/RV 18 NA

Maritime 23 36.49

Medical Services 197 23.30

Medical Supplies 236 27.46

Metal Fabricating 37 33.12

Metals & Mining (Div.) 54 46.98

Natural Gas (Distrib.) 31 18.28

Natural Gas (Div.) 39 172.69

Newspaper 20 33.27

Office Equip/Supplies 31 22.58

Oilfield Svcs/Equip. 88 32.89

Packaging & Container 34 65.89

Paper/Forest Products 40 38.82

Petroleum (Integrated) 34 18.91

Petroleum (Producing) 128 23.24

Pharmacy Services 15 27.29

Power 19 20.22

Precious Metals 48 74.51

Precision Instrument 102 287.77

Publishing 40 44.73

R.E.I.T. 144 35.32

Railroad 16 16.12

Recreation 73 24.17

Restaurant 85 22.16

Retail (Special Lines) 196 25.65

Retail Building Supply 8 23.94

Retail Store 43 23.62

Securities Brokerage 27 20.77

Semiconductor 113 148.10

Semiconductor Equip 15 NA

Shoe 24 21.83

Page 42: Relative PE Ratios - Technology & Industrial Sectors

Steel (General) 27 18.35

Steel (Integrated) 14 16.93

Telecom. Equipment 124 NA

Telecom. Services 137 25.30

Textile 18 NA

Thrift 242 14.81

Tire & Rubber 12 26.86

Tobacco 11 12.64

Toiletries/Cosmetics 21 30.92

Trucking 39 27.01

Utility (Foreign) 6 13.18

Water Utility 16 26.19

Wireless Networking 63 NAMarket 6958 29.81

Page 43: Relative PE Ratios - Technology & Industrial Sectors

Price/Current EPS Price/Trailing EPS Price/Forward PE Expected Growth Payout Beta

32.38 28.06 30.54 14.59% 19.22% 1.30

50.23 38.78 24.05 18.11% 30.42% 0.79

80.89 29.57 41.31 14.47% NA 1.66

24.14 14.13 17.05 14.58% 45.78% 0.93

40.46 26.08 20.76 19.07% 26.18% 1.26

22.18 29.49 15.61 12.01% 29.52% 1.16

21.25 19.07 18.73 10.61% 55.57% 0.62

17.92 17.48 13.03 13.75% 0.08% 0.83

18.28 22.01 NA 0.00% 64.22% 1.53

18.26 17.05 15.48 9.76% 42.22% 0.73

32.27 27.89 17.42 11.88% 31.19% 0.57

24.23 48.65 18.07 15.44% 38.53% 0.59

52.03 56.27 51.61 30.32% 0.00% 1.49

30.89 19.63 16.25 14.36% NA 0.90

84.20 16.35 147.34 13.08% NA 1.95

19.66 14.13 15.84 5.48% 20.25% 0.66

34.60 22.19 20.55 13.06% 31.76% 0.78

42.31 37.82 110.38 27.92% 128.03% 0.88

34.61 28.58 20.12 11.69% 42.87% 0.83

26.19 22.49 27.90 16.31% 45.97% 0.83

50.39 23.52 55.29 16.17% 87.28% 0.95

71.68 113.16 44.94 19.45% 14.38% 2.14

66.20 113.29 44.53 20.30% 18.92% 2.17

47.15 29.62 22.37 13.56% 24.60% 0.78

49.21 33.87 30.60 22.43% 52.57% 1.66

82.58 62.03 78.20 23.79% NA 3.29

48.00 36.64 35.07 20.50% 0.70% 1.17

16.31 15.01 13.99 6.23% 68.73% 0.80

14.40 16.10 14.53 3.46% 61.62% 0.73

19.53 29.80 15.79 1.00% 98.64% 0.79

45.03 31.40 45.18 12.84% 53.33% 1.64

56.60 111.07 44.85 16.94% NA 1.68

121.61 82.65 53.38 17.46% 56.76% 1.43

61.04 42.26 35.17 26.94% 1.03% 2.18

39.22 31.99 28.67 16.30% 4.51% 0.75

70.47 72.29 17.35 12.91% 30.54% 0.90

40.50 27.97 19.03 11.05% 43.74% 0.64

16.59 29.62 16.80 13.17% 13.76% 0.67

47.93 60.44 54.61 17.10% 48.73% 1.16

32.59 32.59 41.96 9.58% NA 1.76

37.61 23.30 24.64 14.73% 24.01% 0.96

21.59 23.15 19.49 14.33% 15.58% 0.72

46.00 31.54 39.46 19.46% 46.38% 1.36

Page 44: Relative PE Ratios - Technology & Industrial Sectors

23.42 21.63 13.86 18.06% 24.57% 0.87

23.39 57.36 12.44 11.79% 10.01% 0.80

28.29 62.18 24.56 14.09% 27.94% 0.84

18.96 25.90 16.47 10.83% 38.73% 0.76

150.77 66.47 38.94 18.06% 17.23% 1.14

33.02 26.93 26.12 14.48% 23.67% 0.93

54.86 67.73 28.62 19.96% 21.64% 1.04

24.55 20.53 17.94 11.07% 19.60% 0.88

36.50 16.99 12.38 19.31% 31.39% 0.81

106.87 135.61 60.80 25.04% NA 2.72

24.82 46.90 #DIV/0! 0.00% 188.13% 0.66

30.35 34.41 #DIV/0! 0.00% 0.00% 1.12

29.70 30.25 32.11 17.07% 52.73% 0.82

21.09 27.68 22.45 19.60% NA 1.11

49.83 30.43 140.78 12.81% 78.01% 0.80

32.36 29.78 18.67 19.57% 5.59% 0.92

79.96 48.75 44.91 22.47% 28.61% 1.09

37.98 26.79 28.63 17.30% 37.10% 0.76

40.16 52.88 41.75 24.19% 77.67% 1.07

18.84 20.62 15.96 7.54% 70.99% 0.65

29.86 19.88 18.49 8.80% 394.65% 0.85

52.49 27.65 29.80 13.30% 27.33% 0.85

20.30 32.61 17.29 18.24% 15.76% 1.16

37.62 60.60 37.65 16.78% 21.89% 0.90

21.81 35.72 20.91 22.39% 55.18% 0.83

44.53 29.78 45.54 15.85% 109.42% 0.84

44.82 19.14 14.76 4.34% 56.90% 0.82

62.94 25.88 18.37 12.95% 18.97% 0.73

21.66 22.16 21.56 17.36% 9.21% 0.89

21.13 24.58 14.72 3.50% 19.04% 2.13

96.89 62.67 54.85 14.17% 66.78% 0.41

65.48 47.58 73.68 16.01% 118.74% 1.69

72.49 83.43 23.53 10.29% 81.51% 0.90

21.26 4.59 18.19 6.88% 165.10% 0.64

24.70 26.26 17.74 12.05% 24.01% 0.83

23.98 29.20 17.33 13.36% 26.34% 1.08

26.98 65.26 26.46 16.95% 15.60% 0.74

24.82 34.39 25.36 15.20% 16.31% 1.05

25.56 26.15 21.17 15.21% 14.46% 1.01

29.71 16.79 17.93 12.25% 17.21% 1.04

34.12 28.94 17.94 8.50% 23.57% 1.33

71.16 63.24 72.14 21.12% 45.28% 2.98

224.06 197.60 134.03 13.15% NA 2.97

22.55 16.33 15.76 12.65% 20.94% 0.92

Page 45: Relative PE Ratios - Technology & Industrial Sectors

19.34 28.04 32.97 12.92% 42.23% 0.80

30.75 17.12 16.07 19.13% 9.35% 0.87

90.47 150.95 55.91 16.90% NA 2.72

32.60 39.47 60.96 17.89% 74.69% 1.69

11.99 13.35 34.33 21.38% NA 0.73

24.86 22.96 19.74 10.62% 36.70% 0.57

19.71 19.57 16.90 23.60% 41.73% 1.17

12.45 17.59 14.66 9.07% 56.37% 0.67

20.62 23.02 18.99 12.80% 43.67% 0.77

30.87 23.62 19.61 16.44% 11.99% 0.92

20.52 26.46 14.05 7.50% 42.75% 0.87

34.53 29.33 24.27 7.63% 50.77% 0.57

72.98 36.79 58.24 21.58% NA 2.6541.40 41.53 30.90 15.56% 44.79% 1.16

Page 46: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of FirmsAggregate Market Cap/ Aggregate Net Income

Advertising 35 111.01

Aerospace/Defense 67 32.86

Air Transport 46 192.59

Apparel 65 21.04

Auto & Truck 25 23.32

Auto Parts 60 19.94

Bank 499 37.46

Bank (Canadian) 7 16.65

Bank (Foreign) 5 53.17

Bank (Midwest) 38 31.58

Beverage (Alcoholic) 22 21.23

Beverage (Soft Drink) 17 21.73

Biotechnology 90 165.62

Building Materials 49 21.33

Cable TV 21 NA

Canadian Energy 11 25.10

Cement & Aggregates 13 27.44

Chemical (Basic) 16 66.43

Chemical (Diversified) 31 25.76

Chemical (Specialty) 92 28.96

Coal 11 85.68

Computer Software/Svcs 389 33.91

Computers/Peripherals 143 32.34

Diversified Co. 117 27.23

Drug 305 26.25

E-Commerce 52 NA

Educational Services 38 50.72

Electric Util. (Central) 25 18.47

Electric Utility (East) 31 18.61

Electric Utility (West) 16 16.87

Electrical Equipment 93 27.67

Electronics 179 NA

Entertainment 88 48.90

Entertainment Tech 31 949.62

Environmental 85 28.92

Financial Svcs. (Div.) 233 35.35

Food Processing 104 21.56

Food Wholesalers 20 26.29

Foreign Electronics 12 43.84

Foreign Telecom. 21 NA

Furn/Home Furnishings 38 26.82

Grocery 23 22.56

Healthcare Information 32 190.96

Page 47: Relative PE Ratios - Technology & Industrial Sectors

Home Appliance 16 18.38

Homebuilding 34 13.19

Hotel/Gaming 77 52.84

Household Products 30 21.74

Human Resources 28 153.43

Industrial Services 200 37.46

Information Services 33 34.45

Insurance (Life) 43 29.45

Insurance (Prop/Cas.) 78 48.71

Internet 297 NA

Investment Co. 21 147.05

Investment Co.(Foreign) 17 140.94

Machinery 133 34.63

Manuf. Housing/RV 19 NA

Maritime 28 16.86

Medical Services 195 24.96

Medical Supplies 262 30.67

Metal Fabricating 38 30.81

Metals & Mining (Div.) 76 42.33

Natural Gas (Distrib.) 30 18.99

Natural Gas (Div.) 38 24.15

Newspaper 20 29.28

Office Equip/Supplies 28 24.31

Oilfield Svcs/Equip. 93 62.05

Packaging & Container 35 142.42

Paper/Forest Products 39 80.10

Petroleum (Integrated) 34 15.07

Petroleum (Producing) 145 17.83

Pharmacy Services 14 29.01

Power 24 187.98

Precious Metals 61 70.22

Precision Instrument 104 NA

Publishing 43 47.35

R.E.I.T. 135 434.38

Railroad 18 22.08

Recreation 78 29.46

Restaurant 84 27.44

Retail (Special Lines) 175 24.24

Retail Automotive 14 19.99

Retail Building Supply 9 23.04

Retail Store 49 24.48

Securities Brokerage 26 32.05

Semiconductor 124 56.70

Semiconductor Equip 16 NA

Page 48: Relative PE Ratios - Technology & Industrial Sectors

Shoe 24 24.99

Steel (General) 24 77.28

Steel (Integrated) 14 195295.00

Telecom. Equipment 120 80.75

Telecom. Services 137 37.88

Thrift 222 32.06

Tire & Rubber 14 158.80

Tobacco 13 16.07

Toiletries/Cosmetics 23 30.94

Trucking 36 32.79

Utility (Foreign) 6 23.60

Water Utility 17 25.00

Wireless Networking 66 NAMarket 7091 31.83

Page 49: Relative PE Ratios - Technology & Industrial Sectors

Price/Current EPS Price/Trailing EPS Price/Forward PE Expected Growth Payout Beta

100.91 28.68 34.55 15.28% 27.17% 1.23

41.09 27.43 18.42 14.49% 21.02% 0.80

35.99 30.06 35.42 17.38% 79.43% 1.34

24.38 31.84 16.27 15.64% 9.45% 0.76

27.38 19.40 11.53 19.69% 17.87% 1.08

23.63 134.07 13.94 17.17% 16.94% 1.06

26.25 22.45 18.68 10.88% 46.60% 0.53

17.61 14.29 12.25 13.17% 52.55% 0.77

26.59 26.91 NA 14.85% 80.93% 1.36

20.59 20.98 16.90 10.95% 44.98% 0.71

37.97 77.26 18.92 12.33% 16.97% 0.58

42.09 21.69 17.64 12.50% 21.03% 0.41

44.38 61.23 36.40 32.64% 0.00% 1.30

32.17 42.10 18.62 15.64% 11.54% 0.74

23.36 30.38 32.43 17.12% NA 1.75

37.55 16.17 15.40 7.50% 17.59% 0.62

35.29 27.14 20.12 21.36% 19.43% 0.78

49.34 42.28 20.26 34.67% 90.82% 0.91

32.67 22.97 18.47 13.30% 21.37% 0.79

30.15 39.10 27.67 17.28% 21.17% 0.79

62.71 35.06 21.07 13.17% 67.28% 0.76

73.17 55.09 32.28 19.33% 3.88% 1.90

67.06 57.75 29.16 23.41% 7.78% 2.06

38.39 26.02 16.00 15.04% 13.72% 0.75

43.27 35.67 1.64 21.51% 25.18% 1.30

43.74 563.34 26.73 30.98% NA 3.07

54.84 55.21 15.62 17.69% 0.99% 1.10

17.60 21.46 9.10 4.50% 35.45% 0.76

18.20 18.68 15.32 4.33% 36.09% 0.72

18.83 17.31 17.57 5.31% 20.53% 0.79

46.42 82.71 17.37 20.00% 28.34% 1.40

71.25 63.47 30.64 22.87% NA 1.45

83.55 42.79 20.46 20.47% 10.10% 1.40

686.96 62.96 18.10 18.90% 1.72% 1.87

38.06 26.53 30.82 20.54% 20.21% 0.69

36.78 21.06 20.98 14.23% 25.83% 0.78

28.93 20.38 8.95 14.08% 20.34% 0.58

24.61 22.07 16.12 9.93% 11.88% 0.63

49.97 62.95 32.95 26.03% 21.07% 1.12

61.41 52.64 14.18 8.58% NA 1.76

27.77 20.90 28.68 18.81% 14.72% 0.82

25.10 26.42 2.32 10.00% 7.70% 0.78

53.65 34.19 3.15 23.14% 15.03% 1.06

Page 50: Relative PE Ratios - Technology & Industrial Sectors

16.70 13.48 16.12 9.58% 14.14% 0.76

24.46 18.74 12.04 14.46% 3.30% 0.85

31.30 30.03 63.45 15.01% 7.75% 0.74

22.57 17.89 8.82 10.81% 18.10% 0.74

116.45 39.59 20.76 19.07% 33.76% 1.14

65.82 42.67 27.45 15.98% 13.02% 0.85

37.34 33.68 28.06 19.24% 13.47% 0.94

18.00 14.31 12.69 11.98% 33.92% 0.75

16.78 15.85 14.10 15.37% 19.84% 0.67

126.23 107.10 48.34 25.82% NA 2.63

15.79 2.34 NA 0.00% 134.21% 0.64

22.36 9.82 NA 0.00% 94.67% 1.08

136.21 40.53 13.25 19.54% 21.61% 0.77

32.21 27.21 20.21 18.75% NA 1.00

63.93 14.40 48.70 13.29% 39.45% 0.67

31.48 31.89 23.13 17.91% 2.39% 0.82

52.77 75.10 -11.79 20.31% 15.80% 0.85

32.24 26.74 22.55 18.94% 17.57% 0.80

53.64 90.81 13.58 16.40% 17.48% 0.99

24.75 24.07 17.03 7.24% 33.88% 0.65

47.83 35.52 17.13 11.79% 23.93% 0.84

26.87 22.52 24.62 13.15% 13.56% 0.84

36.71 43.87 23.08 15.04% 7.45% 0.94

62.24 76.18 23.60 17.46% 22.49% 0.98

39.67 24.68 2.18 16.32% 55.86% 0.80

57.12 52.41 18.52 18.90% 73.37% 0.86

28.82 18.32 11.51 9.42% 17.54% 0.85

67.53 38.04 11.12 13.33% 4.83% 0.62

26.34 23.42 22.66 15.92% 8.81% 0.78

88.52 60.81 3.82 6.75% 0.00% 1.56

112.59 96.76 46.79 17.76% 21.67% 0.41

53.55 46.12 51.75 20.65% NA 1.52

31.62 25.28 29.58 12.88% 26.94% 0.74

24.05 11.07 19.93 7.11% 930.00% 0.63

29.75 29.38 19.51 13.69% 14.29% 0.67

38.24 34.92 23.36 14.29% 15.07% 0.93

41.31 36.03 23.55 15.11% 11.12% 0.69

27.04 22.13 21.35 17.21% 6.51% 1.01

19.84 16.86 15.38 13.83% 1.10% 0.90

26.33 31.19 19.28 17.50% 7.75% 0.88

25.49 19.57 18.20 12.63% 10.73% 0.97

24.16 41.85 16.26 11.55% 18.58% 1.32

107.76 89.22 29.93 24.40% 16.19% 2.64

105.68 65.94 17.47 35.10% NA 2.51

Page 51: Relative PE Ratios - Technology & Industrial Sectors

28.26 27.18 -20.99 13.95% 11.46% 0.98

59.75 18.60 13.30 22.77% 46.16% 0.81

24.72 41.81 9.87 17.67% 70167.00% 1.26

64.17 95.31 26.47 24.45% 6.68% 2.26

48.57 46.43 8.01 16.67% 41.52% 1.32

27.57 25.03 20.42 11.51% 37.06% 0.48

35.51 17.33 15.76 14.75% 98.09% 1.02

19.49 16.32 16.71 6.75% 33.23% 0.59

24.39 27.48 14.03 13.90% 19.37% 0.72

46.87 35.09 19.43 19.46% 5.84% 0.78

19.89 22.82 13.23 10.00% 38.05% 0.85

31.91 26.99 22.60 7.85% 37.92% 0.60

78.28 160.97 62.08 23.03% NA 2.3848.12 42.86 20.56 16.54% 22.88% 1.00

Page 52: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of FirmsAggregate Market Cap/ Aggregate Net IncomeAdvertising 34 49.17Aerospace/Defense 70 27.35Air Transport 45 96.57Apparel 60 17.68Auto & Truck 29 11.56Auto Parts 58 16.36Bank 487 15.81Bank (Canadian) 7 16.33Bank (Foreign) 4 NABank (Midwest) 39 13.80Beverage (Alcoholic) 22 17.22Beverage (Soft Drink) 19 20.79Biotechnology 87 137.22Building Materials 45 16.99Cable TV 22 NACanadian Energy 11 21.94Cement & Aggregates 12 19.82Chemical (Basic) 18 21.63Chemical (Diversified) 33 20.22Chemical (Specialty) 92 21.12Coal 12 58.74Computer Software/Svcs 395 26.95Computers/Peripherals 138 24.34Diversified Co. 118 20.56Drug 306 23.94E-Commerce 59 72.29Educational Services 38 35.36Electric Util. (Central) 25 21.79Electric Utility (East) 29 19.23Electric Utility (West) 15 18.65Electrical Equipment 91 24.18Electronics 175 32.17Entertainment 86 27.77Entertainment Tech 32 107.70Environmental 91 24.91Financial Svcs. (Div.) 244 13.75Food Processing 110 15.98Food Wholesalers 21 17.21Foreign Electronics 11 21.16Foreign Telecom. 20 106.64Furn/Home Furnishings 36 18.84Grocery 23 50.68Healthcare Information 35 124.57Home Appliance 15 20.88Homebuilding 34 10.80Hotel/Gaming 76 38.85Household Products 26 19.18Human Resources 30 31.95Industrial Services 207 31.94Information Services 36 32.65Insurance (Life) 43 15.35Insurance (Prop/Cas.) 84 21.67Internet 306 168.46

Page 53: Relative PE Ratios - Technology & Industrial Sectors

Investment Co. 21 72.87Investment Co.(Foreign) 15 27.69Machinery 134 21.33Manuf. Housing/RV 16 NAMaritime 39 6.67Medical Services 184 36.12Medical Supplies 261 25.08Metal Fabricating 41 20.33Metals & Mining (Div.) 77 22.46Natural Gas (Distrib.) 29 19.45Natural Gas (Div.) 36 22.65Newspaper 19 19.45Office Equip/Supplies 27 18.80Oilfield Svcs/Equip. 98 59.87Packaging & Container 37 24.42Paper/Forest Products 40 16.06Petroleum (Integrated) 30 12.28Petroleum (Producing) 148 21.02Pharmacy Services 15 30.20Power 25 208.95Precious Metals 62 183.86Precision Instrument 104 30.19Publishing 47 21.78R.E.I.T. 122 204.78Railroad 18 23.98Recreation 74 21.74Restaurant 82 23.01Retail (Special Lines) 177 21.74Retail Automotive 14 17.62Retail Building Supply 10 20.13Retail Store 46 21.26Securities Brokerage 31 14.98Semiconductor 121 26.26Semiconductor Equip 14 22.90Shoe 22 18.71Steel (General) 26 9.15Steel (Integrated) 14 4.76Telecom. Equipment 122 21.28Telecom. Services 146 24.55Thrift 221 17.11Tire & Rubber 13 39.05Tobacco 11 16.42Toiletries/Cosmetics 20 20.69Trucking 37 21.10Utility (Foreign) 5 19.25Water Utility 16 28.64Wireless Networking 66 97.59Market 7113 21.10

Page 54: Relative PE Ratios - Technology & Industrial Sectors

Price/Current EPS Price/Trailing EPS Price/Forward PE Expected Growth Payout Beta50.70 48.97 34.27 17.79% 26.67% 1.5637.16 25.87 18.69 17.80% 34.97% 0.8433.06 39.53 36.66 22.04% 98.41% 1.4031.27 34.65 16.99 17.53% 14.34% 0.9018.96 15.40 15.17 13.29% 25.06% 1.2314.63 14.52 15.36 11.97% 30.85% 1.2221.97 18.86 15.69 11.23% 51.59% 0.5517.13 15.99 13.47 11.42% 48.22% 0.76

NA NA NA 14.00% NA 1.5129.72 18.12 15.78 8.92% 48.85% 0.7524.07 23.96 19.63 11.13% 32.81% 0.5630.81 34.17 18.05 9.89% 43.18% 0.6143.34 142.62 35.37 28.10% 0.00% 1.6353.54 65.42 25.87 15.14% 19.19% 0.9638.42 177.78 32.19 23.99% NA 1.8225.18 24.84 16.13 11.25% 20.90% 0.7222.20 22.86 16.52 15.58% 27.99% 0.7125.97 21.24 11.90 27.63% 62.70% 1.0323.72 21.86 16.55 11.43% 40.93% 0.8426.92 31.51 20.42 16.09% 33.28% 0.9060.05 66.84 144.06 45.08% 205.15% 0.9246.93 43.62 36.14 17.71% 18.38% 2.0644.62 48.76 40.48 18.61% 12.63% 2.2332.31 24.01 18.08 15.06% 29.19% 0.8281.46 455.20 51.44 19.70% 45.78% 1.59

158.71 61.97 86.04 23.62% 7.22% 3.0443.58 46.50 37.03 19.58% 2.32% 1.0929.92 31.25 16.06 5.50% 79.10% 0.8118.81 26.85 16.29 5.40% 72.08% 0.8022.71 22.71 15.26 8.57% 57.34% 0.9031.48 34.90 30.61 21.10% 58.08% 1.5944.29 31.34 25.41 21.41% 10.59% 1.6533.14 32.18 41.26 14.41% 26.04% 1.4728.68 41.34 24.48 16.19% 0.00% 2.4738.36 29.14 35.54 16.43% 38.94% 0.7642.65 22.87 18.40 13.48% 26.20% 0.7521.42 28.40 21.38 12.25% 37.05% 0.6126.16 26.36 16.94 10.17% 28.28% 0.6024.21 24.23 102.40 17.79% 22.32% 1.0339.80 32.68 16.60 20.72% 344.66% 1.8828.74 37.35 18.44 13.53% 25.34% 0.9228.29 58.46 51.89 18.50% 40.16% 0.8650.86 78.85 57.85 17.53% 12.64% 1.3822.68 15.22 14.87 8.50% 26.81% 0.8620.91 30.45 8.09 16.87% 6.10% 0.9253.29 32.27 48.18 19.61% 35.73% 0.8216.39 16.24 28.89 9.19% 40.63% 0.7928.96 41.06 54.15 23.31% 17.44% 1.2636.92 27.02 26.70 16.23% 21.29% 0.9738.59 30.90 26.59 17.04% 26.07% 0.8613.11 12.63 15.10 11.93% 28.02% 0.7315.56 15.03 13.40 12.31% 23.66% 0.7074.14 116.95 40.70 25.95% 2.66% 2.78

Page 55: Relative PE Ratios - Technology & Industrial Sectors

12.01 1.58 NA 0.00% 134.21% 0.7327.69 26.24 NA 0.00% 94.67% 1.2672.15 24.84 19.25 19.05% 28.37% 0.8323.64 19.43 22.80 11.75% NA 1.0823.80 14.16 13.55 9.41% 22.65% 0.7234.75 31.27 24.28 17.62% 6.28% 0.9678.28 37.34 42.03 20.74% 27.99% 1.0426.95 22.87 14.51 20.22% 25.46% 0.8843.99 30.70 14.89 18.77% 23.39% 1.0318.61 19.62 16.52 6.80% 83.47% 0.7023.71 22.45 18.84 17.02% 43.15% 0.9621.18 17.84 18.49 9.42% 27.69% 0.8620.80 21.59 18.78 13.08% 18.97% 1.1080.28 47.68 21.77 23.95% 34.20% 1.0238.39 38.88 22.06 17.56% 32.19% 0.8223.42 28.87 22.63 16.18% 38.13% 0.8222.05 19.00 11.42 15.75% 30.44% 0.9063.57 47.27 20.74 16.03% 10.39% 0.6734.59 31.45 36.91 21.25% 8.58% 0.8167.90 79.81 17.42 19.67% 0.00% 2.23

135.57 53.86 71.02 21.41% 109.55% 0.6754.98 49.52 31.70 20.37% 13.49% 1.8121.76 25.77 18.22 15.32% 33.19% 0.7436.52 7.08 29.53 7.07% 1006.76% 0.6729.43 29.77 18.59 16.14% 28.51% 0.7324.67 52.46 18.96 13.84% 34.24% 1.0841.97 37.53 26.60 15.28% 23.25% 0.6830.79 24.50 38.50 16.50% 14.76% 1.0820.07 17.87 42.92 14.59% 1.88% 0.9826.49 25.54 19.10 17.64% 15.73% 0.8921.64 86.07 34.36 13.53% 21.04% 0.9919.10 21.27 17.50 15.14% 17.12% 1.3645.77 40.45 44.28 22.35% 27.78% 2.9732.94 32.58 21.85 32.29% 9.40% 2.91

107.71 19.37 15.24 13.68% 20.64% 1.0211.31 9.96 9.53 20.57% 9.25% 0.949.41 8.32 11.09 15.25% 4.10% 1.14

41.69 38.33 42.69 24.60% 4.72% 2.6128.58 28.55 122.15 14.80% 70.22% 1.6924.20 23.08 25.37 10.66% 44.13% 0.4920.13 19.77 22.19 11.67% 56.18% 1.1937.03 17.01 13.49 8.79% 62.46% 0.6619.68 20.16 18.75 11.44% 28.57% 0.8223.83 19.97 17.05 16.94% 10.46% 0.8834.74 14.75 12.04 9.01% 65.81% 0.9534.89 39.99 24.04 11.42% 77.21% 0.64

233.91 80.88 133.62 25.30% 2.68% 2.6040.07 40.52 29.93 16.50% 34.71% 1.15

Page 56: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of FirmsAggregate Market Cap/ Aggregate Net Income

Advertising 36 41.97

Aerospace/Defense 73 26.85

Air Transport 56 94.87

Apparel 64 23.95

Auto & Truck 31 19.29

Auto Parts 64 NA

Bank 550 15.98

Bank (Canadian) 7 15.46

Bank (Foreign) 4 NA

Bank (Midwest) 37 14.58

Beverage (Alcoholic) 27 20.86

Beverage (Soft Drink) 21 21.69

Biotechnology 105 76.54

Building Materials 47 15.59

Cable TV 23 181.94

Canadian Energy 14 17.21

Cement & Aggregates 13 14.50

Chemical (Basic) 24 15.80

Chemical (Diversified) 36 19.70

Chemical (Specialty) 94 28.03

Coal 16 20.46

Computer Software/Svcs 425 27.86

Computers/Peripherals 148 25.43

Diversified Co. 134 21.05

Drug 334 24.97

E-Commerce 60 59.93

Educational Services 37 22.06

Electric Util. (Central) 24 17.91

Electric Utility (East) 29 20.85

Electric Utility (West) 16 18.21

Electrical Equipment 94 22.87

Electronics 186 33.75

Entertainment 101 28.38

Entertainment Tech 31 NA

Environmental 96 31.16

Financial Svcs. (Div.) 269 16.49

Food Processing 123 19.76

Food Wholesalers 21 19.48

Foreign Electronics 10 30.30

Furn/Home Furnishings 38 18.46

Grocery 19 27.64

Healthcare Information 34 77.51

Home Appliance 14 15.35

Page 57: Relative PE Ratios - Technology & Industrial Sectors

Homebuilding 41 6.62

Hotel/Gaming 84 44.91

Household Products 31 22.38

Human Resources 35 26.38

Industrial Services 230 35.98

Information Services 41 31.04

Insurance (Life) 40 16.23

Insurance (Prop/Cas.) 97 26.94

Internet 329 59.62

Investment Co. 20 NA

Investment Co.(Foreign) 15 59.81

Machinery 139 18.92

Manuf. Housing/RV 19 104.60

Maritime 46 9.27

Medical Services 186 24.64

Medical Supplies 279 24.55

Metal Fabricating 37 18.23

Metals & Mining (Div.) 82 16.42

Natural Gas (Distrib.) 30 21.80

Natural Gas (Div.) 34 18.93

Newspaper 18 15.68

Office Equip/Supplies 26 22.47

Oilfield Svcs/Equip. 110 27.85

Packaging & Container 36 26.51

Paper/Forest Products 42 24.64

Petroleum (Integrated) 30 10.85

Petroleum (Producing) 178 19.55

Pharmacy Services 20 25.91

Power 41 NA

Precious Metals 67 174.04

Precision Instrument 104 28.05

Publishing 50 26.93

R.E.I.T. 143 32.15

Railroad 20 19.89

Recreation 84 19.51

Restaurant 81 26.12

Retail (Special Lines) 164 22.41

Retail Automotive 15 17.30

Retail Building Supply 9 15.21

Retail Store 51 21.11

Securities Brokerage 32 17.80

Semiconductor 124 22.08

Semiconductor Equip 14 29.71

Shoe 24 19.16

Page 58: Relative PE Ratios - Technology & Industrial Sectors

Steel (General) 30 11.60

Steel (Integrated) 16 8.41

Telecom. Equipment 136 26.19

Telecom. Services 173 45.01

Thrift 248 17.46

Tire & Rubber 10 19.11

Tobacco 11 18.00

Toiletries/Cosmetics 21 21.56

Trucking 38 14.43

Utility (Foreign) 6 24.44

Water Utility 16 28.03

Wireless Networking 73 NA

Other 1 NAMarket 7661 21.34

Page 59: Relative PE Ratios - Technology & Industrial Sectors

Price/Current EPS Price/Trailing EPS Price/Forward PE Expected Growth Payout Beta

49.84 72.32 43.56 21.27% 21.10% 0.99

36.19 28.38 26.95 17.12% 31.50% 0.92

43.34 19.33 19.54 26.53% 92.84% 1.38

26.49 26.63 44.49 15.65% 21.55% 0.93

22.34 15.74 25.33 17.25% 15.61% 1.29

18.83 30.24 24.67 11.37% NA 0.99

21.58 19.05 24.72 10.36% 46.94% 0.59

18.12 14.84 14.57 8.83% 47.13% 0.72

NA NA NA 12.32% NA 1.78

20.22 19.37 19.38 8.28% 53.50% 0.79

24.82 21.86 19.91 13.10% 37.78% 0.66

42.58 31.99 44.36 12.80% 45.28% 0.71

39.32 50.04 43.18 24.49% 0.00% 1.56

29.64 29.27 18.46 15.15% 16.12% 0.98

41.44 22.05 78.11 22.79% 16.02% 1.76

22.96 19.75 14.46 8.58% 22.62% 0.73

25.44 15.00 15.73 15.75% 23.95% 1.02

25.92 31.12 14.42 16.89% 43.92% 0.98

25.47 21.18 28.30 15.17% 35.13% 0.97

33.70 27.23 28.63 16.20% 40.84% 0.98

26.34 18.22 20.90 28.65% 46.19% 1.75

52.87 51.06 37.04 18.44% 20.34% 1.84

96.63 42.92 51.80 19.17% 14.33% 1.99

29.47 29.23 21.30 16.05% 25.50% 0.87

57.21 101.45 35.44 20.43% 48.26% 1.59

170.35 225.43 84.46 20.80% 2.36% 2.23

22.42 32.55 33.77 15.48% 2.82% 1.09

18.23 16.30 16.48 6.73% 59.14% 0.94

26.57 59.48 17.19 7.74% 67.28% 0.87

22.62 21.16 17.06 7.79% 48.64% 0.97

32.93 23.65 31.73 19.81% 57.48% 1.52

50.77 46.27 29.57 19.48% 13.95% 1.49

79.13 45.56 53.19 13.37% 28.27% 1.30

41.89 48.96 41.64 15.66% NA 2.18

42.66 39.36 88.95 18.29% 40.34% 0.87

49.11 36.30 25.96 13.30% 30.56% 0.89

38.32 26.93 27.05 11.06% 49.29% 0.72

22.72 20.92 22.19 10.08% 33.72% 0.72

35.70 34.73 27.97 13.86% 34.52% 1.03

42.72 24.99 36.12 19.61% 28.37% 0.87

34.75 20.93 20.19 12.75% 20.65% 1.04

176.93 56.35 66.88 19.46% 11.19% 1.22

19.36 18.42 11.81 11.83% 24.20% 0.84

Page 60: Relative PE Ratios - Technology & Industrial Sectors

35.04 14.91 27.28 6.57% 5.65% 0.98

46.60 46.08 57.20 18.51% 36.71% 0.77

22.63 18.35 31.95 9.90% 44.27% 0.79

39.61 34.42 23.83 18.66% 13.90% 1.22

43.88 38.05 104.00 17.60% 22.13% 1.01

33.17 29.25 29.54 15.68% 25.46% 1.02

17.37 20.59 16.40 11.12% 30.24% 0.93

20.33 42.57 16.94 12.60% 37.17% 0.83

49.10 67.20 58.76 24.15% 1.15% 2.30

NA 7.28 NA NA NA 0.75

55.04 28.43 13.85 NA 0.00% 1.21

53.24 20.42 20.64 19.27% 25.27% 1.01

25.65 24.31 30.56 18.33% 74.24% 0.99

20.61 17.60 27.48 8.52% 44.60% 0.86

35.72 54.67 25.98 17.20% 3.80% 0.94

79.42 63.80 36.24 19.03% 29.87% 1.11

22.56 23.32 21.78 19.83% 24.15% 1.01

31.95 24.35 35.79 17.54% 16.56% 1.04

22.96 20.31 20.79 6.45% 72.32% 0.73

36.96 24.72 18.18 12.76% 36.34% 1.01

16.47 17.84 18.41 5.87% 30.73% 0.76

48.13 26.49 19.31 19.84% 17.67% 1.02

35.30 20.59 28.27 23.10% 21.42% 1.05

23.49 31.43 31.82 16.25% 32.29% 0.87

45.78 51.83 32.70 12.47% 64.40% 0.84

65.35 15.83 16.47 7.37% 26.53% 0.96

49.05 34.51 34.14 16.47% 10.44% 0.88

30.97 31.77 27.27 17.06% 11.55% 0.93

130.15 67.80 308.67 22.94% NA 2.39

105.26 53.16 52.59 22.61% 128.79% 0.90

52.67 45.62 29.85 16.60% 12.97% 1.71

44.94 29.65 26.39 14.07% 32.76% 0.89

34.38 2.67 NA 8.17% 47.58% 0.77

28.49 21.25 35.35 16.83% 26.05% 0.96

31.34 30.52 27.65 16.37% 32.74% 1.12

36.71 387.05 28.15 15.74% 30.34% 0.80

43.73 32.76 26.48 14.70% 17.39% 0.98

17.72 17.36 20.27 13.96% 5.37% 1.04

18.24 16.83 14.87 15.17% 25.66% 0.95

31.28 35.73 22.75 13.51% 19.52% 0.94

24.23 22.93 19.24 15.25% 16.62% 1.29

46.25 46.91 32.03 21.88% 32.12% 2.92

31.59 21.64 18.62 30.50% 17.76% 2.95

32.07 22.60 25.04 16.87% 21.21% 1.08

Page 61: Relative PE Ratios - Technology & Industrial Sectors

12.94 36.78 16.05 12.65% 10.81% 1.16

11.28 11.06 10.88 29.63% 1.09% 1.50

51.71 121.35 46.44 20.77% 19.62% 2.35

46.16 32.54 43.86 15.37% 109.02% 1.43

29.32 26.03 37.74 10.75% 50.61% 0.56

12.60 15.82 13.44 12.00% 18.07% 0.96

22.16 19.33 24.77 8.64% 62.77% 0.79

19.44 21.54 23.50 17.02% 29.06% 0.83

24.66 26.86 29.05 14.96% 10.04% 0.98

45.62 27.70 21.06 14.25% 57.36% 1.00

40.27 60.15 35.31 11.81% 42.04% 0.73

38.90 40.65 35.32 22.91% NA 2.41

NA NA NA NA NA 1.0640.77 40.77 33.65 16.08% 33.27% 1.14

Page 62: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of FirmsAggregate Market Cap/ Aggregate Net Income

Advertising 40 29.79

Aerospace/Defense 69 23.54

Air Transport 49 16.51

Apparel 57 16.55

Auto & Truck 28 17.58

Auto Parts 56 NA

Bank 504 22.64

Bank (Canadian) 8 25.63

Bank (Midwest) 38 21.44

Beverage 44 28.80

Biotechnology 103 39.97

Building Materials 49 11.02

Cable TV 23 37.52

Canadian Energy 13 19.21

Chemical (Basic) 19 24.90

Chemical (Diversified) 37 20.82

Chemical (Specialty) 90 22.27

Coal 18 27.34

Computer Software/Svcs 376 29.85

Computers/Peripherals 144 29.07

Diversified Co. 107 22.78

Drug 368 22.10

E-Commerce 56 96.05

Educational Services 39 37.97

Electric Util. (Central) 25 18.97

Electric Utility (East) 27 23.01

Electric Utility (West) 17 15.67

Electrical Equipment 86 20.24

Electronics 179 31.64

Entertainment 93 21.39

Entertainment Tech 38 NA

Environmental 89 27.64

Financial Svcs. (Div.) 294 11.85

Food Processing 123 24.52

Food Wholesalers 19 29.27

Foreign Electronics 10 29.69

Furn/Home Furnishings 39 14.30

Grocery 15 20.84

Healthcare Information 38 38.56

Heavy Construction 12 45.19

Home Appliance 11 17.36

Homebuilding 36 6.10

Hotel/Gaming 75 36.45

Page 63: Relative PE Ratios - Technology & Industrial Sectors

Household Products 28 22.72

Human Resources 35 21.04

Industrial Services 196 34.07

Information Services 38 26.46

Insurance (Life) 40 27.63

Insurance (Prop/Cas.) 87 105.63

Internet 266 62.53Investment Co. 18 NA

Investment Co.(Foreign) 15 54.73

Machinery 126 20.55

Manuf. Housing/RV 18 36.13

Maritime 52 15.40

Medical Services 178 21.54

Medical Supplies 274 24.76

Metal Fabricating 37 14.27

Metals & Mining (Div.) 78 24.42

Natural Gas (Div.) 31 18.14

Natural Gas Utility 26 17.91

Newspaper 18 12.46

Office Equip/Supplies 25 14.03

Oil/Gas Distribution 15 25.99

Oilfield Svcs/Equip. 113 22.26

Packaging & Container 35 24.46

Paper/Forest Products 39 19.37

Petroleum (Integrated) 26 12.23

Petroleum (Producing) 186 14.87

Pharmacy Services 19 31.29

Power 58 222.77

Precious Metals 84 53.08

Precision Instrument 103 34.32

Property Management 12 20.49

Publishing 40 17.24

R.E.I.T. 147 56.64

Railroad 16 16.64

Recreation 73 16.95

Reinsurance 11 19.32

Restaurant 75 23.36

Retail (Special Lines) 164 18.03

Retail Automotive 16 14.81

Retail Building Supply 9 9.43

Retail Store 42 18.57

Securities Brokerage 31 22.83

Semiconductor 138 24.70

Semiconductor Equip 16 14.82

Page 64: Relative PE Ratios - Technology & Industrial Sectors

Shoe 20 20.57

Steel (General) 26 11.67

Steel (Integrated) 14 16.05

Telecom. Equipment 124 27.18

Telecom. Services 152 41.57

Thrift 234 23.54

Tobacco 11 32.69

Toiletries/Cosmetics 21 30.04

Trucking 32 11.74

Utility (Foreign) 6 106.56

Water Utility 16 25.99

Wireless Networking 74 353.39Market 7364 23.25

Page 65: Relative PE Ratios - Technology & Industrial Sectors

Price/Current EPS Price/Trailing EPS Price/Forward PE Expected Growth Payout Beta

108.17 70.33 33.01 17.72% 10.28% 1.60

39.56 28.34 28.58 19.86% 14.17% 1.19

64.18 21.10 20.18 20.83% 10.48% 1.40

17.39 20.12 38.98 14.12% 9.15% 0.87

16.51 16.97 17.61 13.40% 11.49% 1.54

46.91 20.44 19.89 20.09% NA 1.45

14.96 14.72 21.84 9.72% 48.34% 0.63

13.33 12.27 10.87 8.75% 51.49% 0.67

16.48 13.23 13.93 6.87% 55.69% 0.85

33.57 22.54 23.78 13.27% 26.24% 0.89

93.44 33.96 82.52 26.77% 0.00% 1.51

17.62 27.51 20.33 11.85% 10.39% 1.07

37.28 33.42 68.70 23.45% 3.03% 1.56

20.16 18.73 17.48 7.88% 12.88% 0.80

35.85 25.05 30.52 13.94% 22.99% 1.52

79.01 23.43 23.26 11.52% 17.70% 1.16

27.95 39.24 18.76 12.75% 18.40% 1.06

38.27 254.34 25.28 23.10% 15.07% 1.71

58.80 46.70 36.94 20.64% 11.00% 1.56

32.48 29.79 44.92 19.53% 7.27% 1.86

25.06 29.28 18.25 14.78% 11.32% 1.03

54.24 45.29 87.07 20.42% 26.34% 1.78

776.41 320.58 96.34 24.78% 1.53% 2.08

53.18 58.17 45.68 14.66% 2.19% 1.27

18.48 72.96 20.49 5.95% 32.61% 0.93

23.42 19.34 18.87 8.73% 32.15% 0.84

16.83 17.24 15.99 5.73% 22.84% 0.88

26.11 19.82 21.61 15.98% 26.92% 1.35

31.09 49.07 21.42 19.42% 4.43% 1.32

82.28 33.46 49.67 11.50% 12.07% 1.53

64.03 49.44 30.99 19.29% NA 2.06

50.07 37.62 45.00 20.14% 18.93% 1.00

56.17 34.04 19.42 13.13% 25.82% 1.14

32.57 28.83 28.01 12.68% 24.79% 0.77

32.26 24.72 24.43 11.07% 26.52% 0.79

31.63 39.90 20.74 16.43% 18.02% 1.08

19.52 23.74 18.77 13.72% 16.41% 1.10

21.05 18.46 203.48 13.14% 11.65% 0.99

83.73 33.32 114.76 19.38% 4.08% 0.91

43.16 31.13 25.35 20.50% 4.84% 1.25

14.83 14.19 10.69 9.83% 12.00% 0.95

30.50 23.35 25.23 -2.00% 5.64% 1.64

34.02 42.01 99.53 20.49% 14.63% 1.25

Page 66: Relative PE Ratios - Technology & Industrial Sectors

16.62 16.52 20.99 11.50% 22.64% 0.89

20.58 16.39 13.76 17.47% 8.90% 1.38

29.71 28.56 26.29 18.11% 8.44% 1.22

35.59 29.44 27.16 14.84% 15.61% 1.05

16.49 13.64 25.39 11.40% 29.95% 0.94

12.45 10.20 11.10 10.82% 15.69% 0.89

76.74 52.86 63.72 22.91% 0.52% 1.97NA NA NA NA NA NA

27.37 26.85 NA 0.00% 0.00% 1.31

27.72 23.12 17.62 17.53% 11.09% 1.19

50.72 36.39 19.05 12.60% 16.26% 1.92

29.89 18.60 23.68 12.13% 18.33% 0.87

33.86 25.58 37.79 18.22% 1.32% 1.10

88.88 46.15 40.14 19.42% 16.28% 1.43

16.65 16.01 28.12 16.60% 10.28% 1.19

19.77 14.76 19.07 15.39% 14.45% 1.05

26.03 24.32 25.26 10.19% 12.38% 0.93

20.79 16.96 18.40 5.46% 30.29% 0.78

11.95 13.32 16.51 1.00% 18.24% 1.21

25.78 42.65 13.02 14.42% 8.68% 1.13

20.40 18.33 80.24 10.78% 43.13% 0.72

34.46 23.03 22.82 18.90% 5.16% 1.10

25.16 16.18 15.95 15.29% 16.30% 1.12

29.05 15.75 20.79 9.77% 25.39% 0.93

18.24 13.97 13.72 7.49% 12.53% 1.02

45.05 64.27 39.42 12.82% 4.09% 1.00

31.30 22.80 36.24 18.13% 5.78% 1.07

370.21 95.69 54.19 28.37% 1.24% 1.87

41.48 50.42 54.34 23.52% 13.08% 1.11

29.58 28.26 25.32 15.76% 6.86% 1.66

104.61 42.87 35.39 24.46% 12.98% 0.91

25.45 17.02 18.29 16.09% 13.81% 1.35

36.15 2.12 18.30 7.39% 86.18% 0.90

20.72 14.72 12.69 16.12% 13.03% 1.23

27.23 27.34 13.32 15.38% 22.24% 1.54

29.46 8.05 9.60 17.31% 12.64% 1.01

21.28 23.49 21.95 14.94% 19.79% 0.93

24.05 23.55 23.84 14.51% 8.79% 1.26

15.59 18.98 18.10 12.97% 2.72% 1.58

13.00 92.17 12.88 9.92% 12.84% 1.23

17.75 23.30 14.96 13.67% 11.51% 1.11

42.15 48.52 17.62 16.87% 12.82% 1.66

64.51 40.50 45.73 20.29% 19.60% 2.59

17.26 18.32 12.79 18.69% 5.29% 2.51

Page 67: Relative PE Ratios - Technology & Industrial Sectors

15.51 19.11 15.94 12.24% 11.98% 1.47

26.23 19.28 21.32 11.00% 7.60% 1.71

15.67 12.40 10.90 9.52% 7.61% 1.97

102.34 29.44 66.48 18.81% 11.47% 1.98

95.67 32.58 39.65 15.27% 55.16% 1.34

21.51 26.18 37.23 9.94% 58.41% 0.59

18.20 28.72 15.37 8.08% 67.86% 0.70

41.47 61.10 18.14 11.35% 22.22% 0.85

11.90 33.28 16.95 9.67% 6.14% 1.04

53.28 42.51 30.06 17.50% 0.00% 1.01

40.45 29.73 23.20 10.03% 22.25% 0.78

104.60 70.70 71.74 20.28% 10.55% 2.2045.02 32.44 32.21 15.30% 18.73% 1.24

Page 68: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of FirmsAggregate Market Cap/ Aggregate Net Income

Advertising 30 8.32

Aerospace/Defense 66 10.03

Air Transport 44 8.69

Apparel 53 8.68

Auto & Truck 20 10.31

Auto Parts 54 11.34

Bank 477 14.52

Bank (Canadian) 8 13.94

Bank (Midwest) 39 20.04

Beverage 41 15.49

Biotechnology 108 46.24

Building Materials 52 7.22

Cable TV 25 23.63

Canadian Energy 12 8.25

Chemical (Basic) 19 8.45

Chemical (Diversified) 33 11.11

Chemical (Specialty) 88 12.79

Coal 18 17.44

Computer Software/Svcs 322 14.16

Computers/Peripherals 125 11.39

Diversified Co. 113 8.65

Drug 342 15.38

E-Commerce 54 46.45

Educational Services 34 30.85

Electric Util. (Central) 24 12.55

Electric Utility (East) 26 12.64

Electric Utility (West) 16 11.33

Electrical Equipment 83 10.23

Electronics 173 9.14

Entertainment 84 10.69

Entertainment Tech 33 NA

Environmental 79 20.73

Financial Svcs. (Div.) 296 20.04

Food Processing 109 12.97

Food Wholesalers 18 13.18

Foreign Electronics 10 9.25

Furn/Home Furnishings 34 7.35

Grocery 14 32.84

Healthcare Information 29 23.98

Heavy Construction 14 16.92

Homebuilding 32 NA

Hotel/Gaming 68 8.39

Household Products 26 15.43

Page 69: Relative PE Ratios - Technology & Industrial Sectors

Human Resources 31 10.12

Industrial Services 167 12.78

Information Services 34 15.31

Insurance (Life) 35 11.27

Insurance (Prop/Cas.) 78 71.71

Internet 208 23.82

Investment Co. 17 NA

Investment Co.(Foreign) 16 12.97

Machinery 124 7.93

Manuf. Housing/RV 18 11.48

Maritime 56 5.18

Medical Services 160 8.83

Medical Supplies 252 15.68

Metal Fabricating 35 7.68

Metals & Mining (Div.) 78 6.37

Natural Gas (Div.) 34 10.71

Natural Gas Utility 25 13.65

Newspaper 16 4.93

Office Equip/Supplies 26 8.01

Oil/Gas Distribution 19 11.35

Oilfield Svcs/Equip. 112 6.70

Packaging & Container 33 10.97

Paper/Forest Products 38 12.80

Petroleum (Integrated) 25 7.22

Petroleum (Producing) 188 7.32

Pharmacy Services 19 16.72

Power 66 26.06

Precious Metals 75 60.76

Precision Instrument 90 12.01

Property Management 17 16.43

Publishing 27 39.49

R.E.I.T. 144 60.00

Railroad 15 11.18

Recreation 64 8.39

Reinsurance 11 13.82

Restaurant 68 16.25

Retail (Special Lines) 155 9.37

Retail Automotive 16 9.83

Retail Building Supply 8 10.67

Retail Store 38 13.40

Securities Brokerage 32 21.33

Semiconductor 122 12.07

Semiconductor Equip 16 6.69

Shoe 19 12.70

Page 70: Relative PE Ratios - Technology & Industrial Sectors

Steel (General) 20 7.12

Steel (Integrated) 14 4.14

Telecom. Equipment 110 12.30

Telecom. Services 140 10.84

Thrift 234 42.70

Tobacco 12 24.28

Toiletries/Cosmetics 23 14.96

Trucking 33 12.30

Utility (Foreign) 5 25.88

Water Utility 16 226.87

Wireless Networking 57 48.33

Public/Private Equity 10 1.28

Funeral Services 6 10.84

Total Market 6870 12.42

Page 71: Relative PE Ratios - Technology & Industrial Sectors

Price/Current EPS Price/Trailing EPS Price/Forward PE Expected Growth Payout Beta

10.31 9.39 11.67 18.44% 7.17% 1.43

13.86 12.18 14.60 15.52% 12.42% 1.27

11.37 8.94 13.29 13.59% 9.33% 1.15

7.91 7.06 9.50 11.83% 8.42% 1.14

8.01 8.61 9.24 11.80% 8.71% 1.49

11.48 8.93 14.63 13.22% 17.95% 1.56

13.47 15.40 25.43 8.77% 36.07% 0.71

7.05 7.45 7.41 5.33% 46.75% 0.86

12.22 16.57 15.61 5.03% 54.64% 0.91

13.14 12.24 12.98 11.77% 23.38% 0.95

29.26 27.49 65.50 20.96% 0.49% 1.25

12.09 32.75 47.37 7.68% 14.30% 1.39

24.99 15.67 21.96 19.43% 11.78% 1.56

9.59 7.30 9.01 10.23% 11.45% 1.22

9.36 6.21 5.50 24.21% 16.37% 1.26

12.15 10.58 17.02 12.78% 19.75% 1.21

12.70 11.28 13.88 11.12% 17.73% 1.18

14.43 9.23 6.39 20.83% 20.71% 1.98

46.79 21.06 30.24 18.83% 10.17% 1.22

14.58 14.26 22.42 20.79% 6.33% 1.29

15.13 15.36 11.36 13.46% 20.12% 1.25

17.22 40.00 26.04 18.46% 25.99% 1.16

87.58 37.40 58.87 20.51% 1.20% 1.50

36.54 29.29 29.97 23.73% 2.31% 0.84

13.70 12.29 12.32 6.95% 31.65% 0.82

13.68 13.32 14.83 7.95% 29.52% 0.74

13.45 21.04 12.38 4.93% 24.77% 0.79

25.59 16.19 14.61 13.79% 13.79% 1.37

14.99 15.10 14.42 16.93% 7.35% 1.31

18.76 9.50 12.32 14.42% 11.91% 1.66

14.97 15.10 23.41 15.26% NA 1.45

24.24 15.39 40.81 19.52% 22.11% 1.11

39.44 22.13 13.08 10.19% 22.83% 1.27

18.44 56.08 23.50 15.45% 14.65% 0.80

15.69 12.73 15.52 12.88% 11.15% 0.73

8.04 8.20 11.60 11.25% 9.77% 1.18

7.59 16.55 37.73 3.94% 13.14% 1.29

23.01 22.67 13.14 11.44% 6.47% 0.84

37.84 42.84 70.15 19.86% 3.84% 1.05

15.96 13.74 13.42 17.14% 3.83% 1.48

75.94 75.01 10.56 10.13% NA 1.36

11.56 12.67 22.84 15.15% 10.47% 1.70

11.48 10.77 13.98 12.80% 21.58% 1.08

Page 72: Relative PE Ratios - Technology & Industrial Sectors

7.81 8.13 8.90 16.16% 7.33% 1.44

12.40 12.64 18.04 14.60% 5.16% 1.20

16.90 14.88 19.29 13.74% 5.47% 1.22

7.44 9.25 7.65 9.00% 23.35% 1.17

8.46 13.30 20.51 9.59% 14.29% 0.91

21.81 48.59 25.72 20.31% 0.20% 1.41

#DIV/0! #DIV/0! #DIV/0! 0.00% NA 0.83

7.14 7.94 16.63 0.00% 36.72% 1.31

9.94 10.21 12.02 15.12% 10.21% 1.39

13.09 13.96 19.81 6.79% 9.05% 1.32

9.20 6.27 7.55 8.91% 17.67% 1.30

26.90 17.67 14.45 15.05% 0.86% 1.10

26.69 22.78 36.47 18.56% 15.25% 1.17

6.90 6.73 12.12 10.14% 10.49% 1.56

16.46 6.45 6.70 9.13% 10.00% 1.69

12.08 7.58 11.99 11.83% 13.80% 1.20

14.36 13.87 13.64 5.63% 30.14% 0.69

4.46 4.84 5.25 -8.44% 9.12% 1.16

8.39 16.90 11.53 12.12% 10.66% 1.11

11.52 9.82 11.09 8.88% 39.70% 0.89

8.37 7.61 6.71 13.03% 6.06% 1.56

12.82 11.37 12.26 11.79% 12.39% 1.27

39.02 19.23 13.67 7.84% 28.92% 1.20

9.44 6.59 8.52 6.23% 14.04% 1.34

18.37 14.37 10.44 15.49% 5.13% 1.24

16.85 16.75 15.26 16.55% 6.20% 0.94

56.38 29.92 30.49 30.08% 0.19% 1.63

30.86 36.37 37.04 18.07% 19.95% 1.41

15.04 21.21 22.60 13.08% 4.96% 1.47

10.66 9.95 10.55 12.95% 23.90% 1.38

10.02 10.14 31.96 10.85% 80.61% 1.24

17.16 1.15 14.35 9.01% 115.46% 1.35

10.11 8.66 17.15 13.41% 14.10% 1.25

19.31 17.57 17.72 8.51% 21.67% 1.41

23.43 15.06 9.88 11.06% 12.85% 0.91

12.24 19.08 13.83 13.02% 21.18% 1.26

12.03 20.96 23.97 11.61% 9.70% 1.26

8.88 11.61 15.75 8.35% 1.96% 1.31

13.57 14.55 16.43 3.92% 14.55% 1.01

24.42 20.53 15.41 10.38% 11.18% 1.01

22.03 12.52 14.41 16.29% 28.02% 1.37

23.76 15.77 23.41 18.48% 21.82% 1.81

7.50 12.65 13.59 11.42% 5.01% 1.78

9.51 11.21 16.28 7.04% 11.89% 1.23

Page 73: Relative PE Ratios - Technology & Industrial Sectors

7.87 6.54 17.00 9.65% 9.43% 1.71

5.08 3.65 4.21 8.54% 6.35% 1.96

17.07 10.96 50.17 15.00% 13.06% 1.49

24.12 16.30 27.16 14.60% 21.11% 1.43

19.92 25.82 35.10 9.60% 64.16% 0.66

12.99 11.42 10.54 4.70% 32.09% 0.71

11.40 11.33 10.65 10.50% 16.72% 0.95

13.73 15.64 15.91 12.06% 8.06% 1.17

17.35 21.15 24.51 20.00% 0.00% 1.23

36.04 20.90 18.93 10.50% 274.15% 0.86

20.13 18.43 24.77 17.02% 1.53% 1.54

2.60 4.69 8.45 1.25% 23.46% 2.08

16.63 28.51 11.08 14.12% 17.83% 1.41

18.91 17.48 20.04 13.46% 16.22% 1.19

Page 74: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of FirmsAggregate Market Cap/ Aggregate Net IncomePrice/Current EPS

Advertising 36 NA 45.12

Aerospace/Defense 67 12.00 31.58

Air Transport 44 506.06 24.99

Apparel 56 17.59 19.64

Auto & Truck 22 NA 15.77

Auto Parts 54 22.56 19.77

Bank 481 NA 16.80

Bank (Canadian) 7 19.66 14.12

Bank (Midwest) 39 188.79 14.37

Beverage 41 18.70 19.14

Biotechnology 121 86.57 35.13

Building Materials 53 15.31 29.08

Cable TV 24 26.75 17.70

Canadian Energy 10 9.67 11.72

Chemical (Basic) 17 11.68 10.75

Chemical (Diversified) 31 21.47 13.33

Chemical (Specialty) 97 19.00 23.04

Coal 21 16.30 20.14

Computer Software/Svcs 333 22.87 32.49

Computers/Peripherals 129 21.89 30.26

Diversified Co. 121 14.67 47.35

Drug 337 17.97 33.22

E-Commerce 56 64.14 60.87

Educational Services 38 26.27 30.67

Electric Util. (Central) 23 14.32 16.26

Electric Utility (East) 24 13.73 17.57

Electric Utility (West) 14 13.46 38.45

Electrical Equipment 87 16.56 31.07

Electronics 183 29.17 24.61

Entertainment 95 20.38 16.15

Entertainment Tech 35 NA 29.62

Environmental 91 22.09 30.78

Financial Svcs. (Div.) 296 NA 59.58

Food Processing 121 14.65 22.45

Foreign Electronics 9 NA 62.31

Funeral Services 5 13.79 20.82

Furn/Home Furnishings 35 26.48 20.34

Healthcare Information 33 46.03 127.59

Heavy Construction 14 12.73 16.62

Homebuilding 28 NA 39.22

Page 75: Relative PE Ratios - Technology & Industrial Sectors

Hotel/Gaming 74 27.06 33.89

Household Products 23 16.89 14.81

Human Resources 30 26.22 33.96

Industrial Services 168 24.16 25.20

Information Services 29 18.64 19.62

Insurance (Life) 31 13.75 18.03

Insurance (Prop/Cas.) 85 12.15 21.70

Internet 239 43.64 52.53

Investment Co. 19 NA #DIV/0!

Investment Co.(Foreign) 16 28.09 25.76

Machinery 130 12.41 14.44

Manuf. Housing/RV 15 31.29 88.02

Maritime 53 6.79 14.40

Medical Services 162 13.99 18.22

Medical Supplies 264 18.43 36.58

Metal Fabricating 36 16.74 10.12

Metals & Mining (Div.) 79 19.55 105.63

Natural Gas (Div.) 32 11.49 14.72

Natural Gas Utility 24 14.06 15.19

Newspaper 15 43.81 16.11

Office Equip/Supplies 25 13.65 23.20

Oil/Gas Distribution 19 14.29 16.45

Oilfield Svcs/Equip. 113 10.98 18.21

Packaging & Container 31 31.18 15.30

Paper/Forest Products 39 NA 174.20

Petroleum (Integrated) 24 7.23 7.84

Petroleum (Producing) 198 12.20 20.57

Pharmacy Services 21 25.85 16.41

Power 77 26.36 21.22

Precious Metals 78 63.43 59.19

Precision Instrument 98 26.38 27.13

Property Management 20 87.02 23.92

Public/Private Equity 9 NA 4.71

Publishing 30 11.20 15.60

R.E.I.T. 143 83.27 23.52

Railroad 15 14.63 38.73

Recreation 65 14.62 27.27

Reinsurance 8 13.62 33.85

Restaurant 68 18.83 29.55

Retail (Special Lines) 157 24.33 28.69

Retail Automotive 15 18.13 22.52

Page 76: Relative PE Ratios - Technology & Industrial Sectors

Retail Building Supply 7 16.87 20.85

Retail Store 43 16.86 18.42

Retail/Wholesale Food 32 23.29 20.70

Securities Brokerage 30 17.96 37.36

Semiconductor 125 35.51 65.24

Semiconductor Equip 14 26.79 30.65

Shoe 19 19.88 36.98

Steel (General) 20 9.51 16.85

Steel (Integrated) 15 8.69 58.63

Telecom. Equipment 115 59.99 21.16

Telecom. Services 140 14.27 44.14

Thrift 227 NA 24.96

Tobacco 12 14.22 16.15

Toiletries/Cosmetics 19 20.21 24.72

Trucking 33 NA 30.92

Utility (Foreign) 5 NA 25.41

Water Utility 15 21.28 30.55

Wireless Networking 60 55.46 43.84Total Market 7036 22.99 29.57

Page 77: Relative PE Ratios - Technology & Industrial Sectors

Price/Trailing EPS Price/Forward PE Expected Growth Payout Beta

21.32 19.99 11.40% NA 1.60

18.98 22.24 9.68% 48.72% 1.19

15.72 15.04 11.76% 2070.48% 1.06

19.45 16.31 10.45% 20.35% 1.30

23.92 41.41 9.70% NA 1.72

92.92 43.73 10.63% 50.30% 1.75

21.99 20.48 7.79% NA 0.75

15.06 13.19 7.08% 0.00% 0.86

18.09 20.84 7.18% 0.00% 0.96

20.71 15.56 16.50% 59.61% 1.04

32.10 27.77 20.28% 0.54% 1.10

72.01 32.19 2.95% 36.11% 1.44

21.55 22.61 21.63% 43.54% 1.69

25.40 24.33 5.25% 100.30% 1.18

17.31 17.14 11.30% 45.60% 1.27

21.62 24.32 6.53% 99.55% 1.37

29.36 19.48 9.39% 88.45% 1.29

29.21 18.24 11.75% 63.20% 1.67

74.72 33.96 17.27% 8.03% 1.02

59.03 34.68 17.35% 37.99% 1.29

25.15 19.24 4.39% 42.74% 1.20

20.44 18.82 17.52% 27.33% 1.11

72.10 44.53 22.23% 0.68% 1.18

29.91 20.96 21.70% 5.58% 0.75

15.98 14.18 5.60% 518.59% 0.79

16.16 13.37 5.31% 385.66% 0.73

16.77 12.85 6.79% 398.39% 0.75

23.80 21.58 9.91% 29.68% 1.41

29.00 26.16 12.52% 26.06% 1.16

18.77 28.22 15.22% 43.82% 1.81

100.18 32.52 16.62% NA 1.32

44.64 31.48 14.04% 86.32% 0.97

125.31 15.82 10.78% NA 1.39

28.04 17.15 14.76% 33.59% 0.86

66.55 35.55 15.67% NA 1.13

28.34 23.08 9.75% 16.43% 1.19

35.71 24.67 5.46% 35.92% 1.52

170.18 31.29 16.66% 2.86% 0.97

15.62 17.07 11.42% 7.87% 1.42

59.65 15.59 15.83% NA 1.45

Page 78: Relative PE Ratios - Technology & Industrial Sectors

77.69 30.72 8.31% 39.47% 1.74

15.77 18.60 10.59% 58.74% 1.15

100.60 63.67 7.77% 16.64% 1.38

21.97 24.74 13.02% 18.41% 1.07

22.31 21.14 13.37% 38.17% 1.28

38.93 10.72 4.78% 2.86% 1.38

15.54 10.01 9.02% 5.19% 0.92

45.99 34.72 17.21% 0.13% 1.04

#DIV/0! #DIV/0! 0.00% NA 0.76

37.75 25.71 0.00% 1.23% 1.39

31.43 22.21 7.04% 67.92% 1.32

60.39 36.37 3.00% 6.92% 1.21

35.93 17.16 4.43% 93.23% 1.38

19.81 15.82 12.53% 1.90% 0.97

45.88 39.54 17.93% 34.86% 1.04

30.38 47.05 2.88% 33.21% 1.54

161.74 27.03 4.31% 87.52% 1.23

18.86 18.82 6.14% 174.20% 1.29

15.66 13.51 4.23% 178.34% 0.67

14.18 24.03 -4.92% 577.06% 1.94

30.57 17.78 5.78% 19.67% 1.19

18.27 33.49 7.62% 563.70% 0.89

27.33 23.25 4.08% 63.91% 1.45

18.72 15.92 9.78% 81.71% 1.20

25.36 20.01 18.58% NA 1.63

24.82 17.45 3.37% 212.22% 1.24

60.90 31.25 12.51% 49.28% 1.16

16.56 16.41 14.51% 28.35% 0.88

20.61 43.30 21.19% 3.71% 1.23

45.42 36.82 8.07% 81.59% 1.18

48.39 44.46 15.70% 2.26% 1.24

24.40 19.47 8.28% 140.10% 1.63

19.43 8.06 -2.00% NA 2.40

14.57 18.09 11.92% 24.40% 1.43

42.09 18.05 4.61% 813.56% 1.60

19.63 24.73 7.14% 119.65% 1.29

18.43 16.38 14.01% 15.06% 1.43

8.84 7.26 18.50% 1.11% 1.07

24.52 17.76 13.16% 85.89% 1.34

29.94 21.24 11.03% 39.59% 1.43

24.79 19.61 10.93% 2.59% 1.46

Page 79: Relative PE Ratios - Technology & Industrial Sectors

23.63 21.52 7.90% 54.15% 0.95

22.74 14.17 11.27% 87.90% 1.35

16.78 15.59 12.64% 62.66% 0.73

18.06 14.90 10.96% 38.44% 1.18

56.88 50.78 15.08% 47.89% 1.56

133.72 35.15 2.65% 5.16% 1.93

46.76 46.36 7.67% 25.94% 1.34

57.42 18.39 10.75% 54.99% 1.61

13.05 60.99 4.90% 78.53% 1.85

43.95 21.23 12.80% 27.82% 1.15

82.66 18.60 12.50% 190.40% 1.10

50.22 27.08 9.38% NA 0.73

15.31 11.95 3.20% 28.56% 0.78

20.08 15.42 10.15% 30.46% 1.23

50.05 38.11 11.28% NA 1.30

21.07 21.98 9.00% NA 1.07

32.41 22.21 4.98% 229.90% 0.82

29.91 33.34 15.87% 1.27% 1.5039.93 24.37 11.39% 143.47% 1.17

Page 80: Relative PE Ratios - Technology & Industrial Sectors

Industry Name Number of Firms Aggregate Market Cap/ Aggregate Net Income

Advertising 28 509.60Aerospace/Defense 63 13.34Air Transport 40 4501.64Apparel 48 22.73Auto Parts 47 75.14Automotive 19 NABank 418 74.94Bank (Canadian) 7 17.25Bank (Midwest) 40 304.17Beverage 34 20.02Biotechnology 120 54.13Building Materials 47 61.19Cable TV 24 21.13Canadian Energy 10 27.77Chemical (Basic) 17 21.12Chemical (Diversified) 31 27.37Chemical (Specialty) 83 27.34Coal 25 27.37Computer Software/Svcs 247 22.42Computers/Peripherals 101 19.82Diversified Co. 111 19.66Drug 301 17.14E-Commerce 52 89.90Educational Services 37 17.30Electric Util. (Central) 23 14.81Electric Utility (East) 25 14.22Electric Utility (West) 14 14.10Electrical Equipment 79 19.63Electronics 158 23.03Engineering & Const 17 16.62Entertainment 75 21.07Entertainment Tech 31 NAEnvironmental 69 25.56Financial Svcs. (Div.) 230 NAFood Processing 109 17.33Foreign Electronics 9 NAFuneral Services 5 16.83Furn/Home Furnishings 30 38.84Healthcare Information 26 79.55Heavy Truck/Equip Makers 8 197.88Homebuilding 24 NAHotel/Gaming 52 72.26Household Products 22 16.47

Page 81: Relative PE Ratios - Technology & Industrial Sectors

Human Resources 24 60.90Industrial Services 137 25.81Information Services 26 23.10Insurance (Life) 31 25.07Insurance (Prop/Cas.) 67 18.46Internet 180 45.67Machinery 114 24.91Maritime 53 9.49Medical Services 139 14.08Medical Supplies 231 18.03Metal Fabricating 30 19.97Metals & Mining (Div.) 69 31.09Natural Gas (Div.) 32 22.79Natural Gas Utility 27 18.72Newspaper 13 48.95Office Equip/Supplies 24 23.94Oil/Gas Distribution 12 17.65Oilfield Svcs/Equip. 95 16.95Packaging & Container 27 18.71Paper/Forest Products 37 NAPetroleum (Integrated) 23 15.36Petroleum (Producing) 163 20.93Pharmacy Services 19 17.99Pipeline MLPs 11 21.18Power 68 26.42Precious Metals 74 61.01Precision Instrument 83 32.99Property Management 27 72.90Public/Private Equity 8 NAPublishing 23 12.07R.E.I.T. 6 22.65Railroad 14 20.70Recreation 52 23.87Reinsurance 8 6.37Restaurant 60 23.22Retail (Special Lines) 143 30.36Retail Automotive 15 20.98Retail Building Supply 8 21.99Retail Store 38 17.17Retail/Wholesale Food 29 15.93Securities Brokerage 25 20.42Semiconductor 115 47.91Semiconductor Equip 14 NAShoe 18 23.93

Page 82: Relative PE Ratios - Technology & Industrial Sectors

Steel (General) 19 NASteel (Integrated) 13 12.59Telecom. Equipment 104 42.55Telecom. Services 85 14.07Telecom. Utility 28 14.00Thrift 181 NATobacco 13 16.45Toiletries/Cosmetics 15 23.29Trucking 33 NAUtility (Foreign) 5 41.91Water Utility 12 23.94Wireless Networking 48 42.34Total Market 5928 27.09

Page 83: Relative PE Ratios - Technology & Industrial Sectors

Price/Current EPS Price/Trailing EPS Price/Forward PE Expected Growth Payout Beta

27.23 21.98 24.59 12.38% NA 1.7935.07 53.49 16.66 10.97% 14.05% 1.1528.87 14.49 12.07 18.67% 6.05% 1.2125.95 15.56 15.52 14.15% 21.41% 1.3568.00 36.09 16.04 25.61% 44.77% 1.78

654.78 31.59 14.59 15.63% NA 1.5065.58 36.33 19.37 9.06% 24.66% 0.7517.55 12.72 11.61 14.42% 66.08% 0.8655.61 24.06 19.93 8.04% 32.18% 0.9622.20 20.60 15.17 11.88% 26.39% 0.9230.66 29.97 29.29 23.12% 0.95% 1.1372.44 34.15 25.30 14.27% 26.13% 1.3322.50 48.49 26.04 14.76% 9.46% 1.4324.44 26.41 29.33 8.85% 47.10% 1.1423.87 22.15 24.55 11.38% 15.36% 1.2837.95 21.69 22.08 15.78% 18.75% 1.51

116.44 19.50 15.19 15.15% 19.88% 1.3737.99 38.01 17.52 11.54% 32.73% 1.5950.20 46.92 33.20 16.93% 11.83% 1.06

141.61 73.34 39.52 17.05% 5.50% 1.2735.94 31.03 17.94 9.95% 19.67% 1.2226.17 23.70 16.32 14.88% 24.59% 1.11

163.71 69.78 50.45 21.42% 1.17% 1.1421.23 22.47 17.84 19.97% 2.98% 0.7918.12 15.84 14.32 6.06% 68.93% 0.7819.52 22.64 14.09 3.91% 33.42% 0.7316.36 14.84 13.87 7.46% 54.19% 0.7546.88 22.97 15.70 12.57% 13.96% 1.3247.47 22.33 14.05 16.33% 8.38% 1.1317.84 25.80 19.87 11.18% 5.68% 1.6556.98 72.75 47.97 16.07% 12.06% 1.7291.05 44.53 41.50 26.28% NA 1.3926.99 25.84 20.80 18.02% 23.53% 0.8533.73 22.48 15.46 12.61% NA 1.3726.78 22.98 14.77 14.21% 23.81% 0.8745.03 44.48 18.54 30.18% NA 1.1417.24 15.76 13.97 12.90% 44.19% 1.2235.17 51.00 19.66 18.59% 50.24% 1.6778.11 41.51 38.69 18.95% 3.17% 0.9478.31 59.30 21.67 16.30% 43.29% 1.9427.57 20.38 54.60 15.04% NA 1.3988.86 59.23 33.45 9.37% 16.36% 1.7618.35 16.89 13.90 11.73% 48.07% 1.17

Page 84: Relative PE Ratios - Technology & Industrial Sectors

168.97 82.68 30.40 18.38% 30.59% 1.4429.89 52.60 19.89 14.07% 9.52% 0.9638.65 122.04 22.77 13.48% 19.66% 1.1024.52 11.76 12.63 7.66% 23.21% 1.3911.51 19.94 13.34 8.75% 18.29% 0.9243.92 77.68 36.22 20.55% 0.93% 1.1151.49 30.29 20.04 14.43% 14.81% 1.2241.63 39.12 13.59 13.12% 9.56% 1.3723.68 15.40 17.41 13.07% 2.63% 0.8845.86 77.11 31.82 17.43% 16.29% 1.0246.14 31.54 23.27 6.46% 14.71% 1.4475.74 46.16 21.19 8.96% 26.08% 1.3320.18 23.58 21.92 5.27% 27.81% 1.2519.10 16.48 13.36 5.41% 32.79% 0.65

131.01 14.09 16.96 7.20% 15.42% 1.71182.65 21.38 28.28 13.25% 43.25% 1.4519.46 18.93 21.75 4.86% 28.29% 0.9743.03 55.53 22.41 7.12% 11.47% 1.4821.51 18.76 14.02 11.44% 26.48% 1.0664.09 27.25 17.85 10.25% NA 1.5225.62 85.02 13.63 9.72% 47.90% 1.2163.49 52.18 25.02 13.68% 6.41% 1.36

106.60 29.23 15.56 16.89% 13.26% 0.9626.47 24.27 22.33 8.05% 123.47% 0.8525.88 20.33 15.19 16.76% 0.18% 1.34

109.87 40.79 28.82 17.10% 15.28% 1.1856.39 30.44 18.49 19.04% 5.51% 1.2763.04 21.79 19.35 14.44% 43.33% 1.2010.60 14.84 8.08 32.13% NA 2.1816.64 13.80 13.96 10.70% 14.79% 1.30

116.30 48.49 28.67 8.00% 15.43% 1.2940.01 35.00 19.15 12.06% 17.00% 1.2863.39 49.89 19.85 13.71% 15.75% 1.506.97 7.16 7.33 10.64% 12.24% 0.98

22.67 32.35 20.67 15.59% 25.58% 1.3341.56 29.16 19.00 16.11% 15.16% 1.5437.26 21.60 15.35 14.29% 4.32% 1.4431.17 23.69 19.95 12.08% 48.94% 0.9222.18 23.57 18.05 13.47% 14.47% 1.3323.36 16.75 15.50 11.46% 24.16% 0.7421.11 26.45 24.67 11.02% 10.44% 1.25

136.49 29.87 21.19 20.18% 50.75% 1.5639.86 19.63 12.04 32.40% NA 1.7925.97 18.01 15.00 19.32% 28.05% 1.31

Page 85: Relative PE Ratios - Technology & Industrial Sectors

60.49 45.69 19.40 20.82% NA 1.5966.93 40.04 13.61 12.58% 8.71% 1.7232.55 31.01 20.58 14.18% 23.99% 1.0428.30 36.97 24.58 12.90% 39.68% 1.0131.12 26.21 17.93 7.64% 43.46% 1.0336.21 38.05 35.17 8.53% NA 0.7018.45 14.35 12.25 9.75% 35.38% 0.7319.63 17.13 16.20 13.05% 36.78% 1.2783.93 42.51 23.66 16.13% NA 1.2027.32 2235.91 #DIV/0! 0.00% 0.00% 0.9926.92 23.18 21.88 20.30% 40.42% 0.7041.35 53.47 30.55 21.86% 0.78% 1.2549.82 38.19 21.40 14.04% 28.07% 1.15

Page 86: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

10 Energy 1010 Energy 101010 10101010 Oil & Gas Drilling

Drilling contractors or owners of drilling rigs that contract their services for drilling wells

10101020 Oil & Gas Equipment & Services

101020 10102010 Integrated Oil & Gas

10102020 Oil & Gas Exploration & Production

Companies engaged in the exploration and production of oil and gas not classified elsewhere.

10102030 Oil & Gas Refining & Marketing

10102040 Oil & Gas Storage & Transportation

10102050 Coal & Consumable Fuels

Energy Equipment & Services

Manufacturers of equipment, including drilling rigs and equipment, and providers of supplies and services to companies involved in the drilling, evaluation and completion of oil and gas wells.

Oil, Gas & Consumable Fuels

Integrated oil companies engaged in the exploration & production of oil and gas, as well as at least one other significant activity in either refining, marketing and transportation, or chemicals.

Companies engaged in the refining and marketing of oil, gas and/or refined products not classified in the Integrated Oil & Gas or Independent Power Producers & Energy Traders Sub-Industries.

Companies engaged in the storage and/or transportation of oil, gas and/or refined products. Includes diversified midstream natural gas companies facing competitive markets, oil and refined product pipelines, coal slurry pipelines and oil & gas shipping companies.

Companies primarily involved in the production and mining of coal, related products and other consumable fuels related to the generation of energy. Excludes companies primarily producing gases classified in the Industrial Gases sub-industry and companies primarily mining for metallurgical (coking) coal used for steel production.

Page 87: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry15 Materials 1510 Materials 151010 Chemicals 15101010 Commodity Chemicals

15101020 Diversified Chemicals

15101030 Fertilizers & Agricultural Chemicals

Producers of fertilizers, pesticides, potash or other agriculture-related chemicals not classified elsewhere.

15101040 Industrial Gases

Manufacturers of industrial gases.

15101050 Specialty Chemicals

151020 15102010 Construction Materials

151030 15103010 Metal & Glass Containers

Manufacturers of metal, glass or plastic containers. Includes corks and caps.

15103020 Paper Packaging

Manufacturers of paper and cardboard containers and packaging.

151040 Metals & Mining 15104010 Aluminum

15104020 Diversified Metals & Mining

15104030 Gold

15104040 Precious Metals & Minerals

15104050 Steel

Producers of iron and steel and related products

151050 15105010 Forest Products

Manufacturers of timber and related wood products. Includes lumber for the building industry.

15105020 Paper Products

Companies that primarily produce industrial chemicals and basic chemicals. Including but not limited to plastics, synthetic fibers, films, commodity-based paints & pigments, explosives and petrochemicals. Excludes chemical companies classified in the Diversified Chemicals, Fertilizers & Agricultural Chemicals, Industrial Gases, or Specialty Chemicals Sub-Industries.

Manufacturers of a diversified range of chemical products not classified in the Industrial Gases, Commodity Chemicals, Specialty Chemicals or Fertilizers & Agricultural Chemicals Sub-Industries.

Companies that primarily produce high value-added chemicals used in the manufacture of a wide variety of products, including but not limited to fine chemicals, additives, advanced polymers, adhesives, sealants and specialty paints, pigments and coatings.

Construction Materials

Manufacturers of construction materials including sand, clay, gypsum, lime, aggregates, cement, concrete and bricks. Other finished or semi-finished building materials are classified in the Building Products Sub-Industry.

Containers & Packaging

Producers of aluminum and related products, including companies that mine or process bauxite and companies that recycle aluminum to produce finished or semi-finished products. Excludes companies that primarily produce aluminum building materials classified in the Building Products Sub-Industry.

Companies engaged in the diversified production or extraction of metals and minerals not classified elsewhere. Including, but not limited to, nonferrous metal mining (except aluminum), salt and borate mining, phosphate rock mining, metallurgical (coking) coal mining used for steel production and diversified mining operations. Excludes iron ore mining, classified in the Steel Sub-Industry and aluminum mining classified in the Aluminum Sub-Industry. Excludes bituminous (thermal) coal-mining companies classified in the Coal & Consumable Fuels Sub-Industry.

Producers of gold and related products, including companies that mine or process gold and the South African finance houses which primarily invest in, but do not operate, gold mines.

Companies mining precious metals and minerals not classified in the Gold Sub-Industry. Includes companies primarily mining platinum.

Paper & Forest Products

Manufacturers of all grades of paper. Excludes companies specializing in paper packaging classified in the Paper Packaging Sub-Industry.

Page 88: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

20 Industrials 2010 Capital Goods 201010 Aerospace & Defense 20101010 Aerospace & Defense

201020 Building Products 20102010 Building Products

201030 20103010 Construction & Engineering

201040 Electrical Equipment 20104010 Electrical Components & Equipment

20104020 Heavy Electrical Equipment

201050 20105010 Industrial Conglomerates

201060 Machinery 20106010 Construction & Farm Machinery & Heavy Trucks

20106020 Industrial Machinery

201070 20107010 Trading Companies & Distributors

Trading companies and other distributors of industrial equipment and products.

2020 202010 20201010 Commercial Printing

Companies providing commercial printing services. Includes printers primarily serving the media industry.

20201020 Data Processing Services -- Discontinued effective 04/30/2003.

Providers of commercial electronic data processing services.

20201030 Diversified Commercial & Professional Services -- Discontinued effective 08/31/2008

20201040 Human Resource & Employment Services -- Discontinued effective 08/31/2008

20201050 Environmental & Facilities Services

20201060 Office Services & Supplies

Providers of office services and manufacturers of office supplies and equipment not classified elsewhere.

20201070 Diversified Support Services

20201080 Security & Alarm Services

Manufacturers of civil or military aerospace and defense equipment, parts or products. Includes defense electronics and space equipment.

Manufacturers of building components and home improvement products and equipment. Excludes lumber and plywood classified under Forest Products and cement and other materials classified in the Construction Materials Sub-Industry.

Construction & Engineering

Companies engaged in primarily non-residential construction. Includes civil engineering companies and large-scale contractors. Excludes companies classified in the Homebuilding Sub-Industry.

Companies that produce electric cables and wires, electrical components or equipment not classified in the Heavy Electrical Equipment Sub-Industry.

Manufacturers of power-generating equipment and other heavy electrical equipment, including power turbines, heavy electrical machinery intended for fixed-use and large electrical systems. Excludes cables and wires, classified in the Electrical Components & Equipment Sub-Industry.

Industrial Conglomerates

Diversified industrial companies with business activities in three or more sectors, none of which contributes a majority of revenues. Stakes held are predominantly of a controlling nature and stake holders maintain an operational interest in the running of the subsidiaries.

Manufacturers of heavy duty trucks, rolling machinery, earth-moving and construction equipment, heavy farm machinery and manufacturers of related parts. Includes non-military shipbuilding.

Manufacturers of industrial machinery and industrial components. Includes companies that manufacture presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings and other metal fabrications.

Trading Companies & Distributors

Commercial & Professional Services

Commercial Services & Supplies

Companies primarily providing commercial, industrial and professional services to businesses and governments not classified elsewhere. Includes commercial cleaning services, consulting services, correctional facilities, dining & catering services, document & communication services, equipment repair services, security & alarm services, storage & warehousing, and uniform rental services.

Companies providing business support services relating to human capital management. Includes employment agencies, employee training, payroll & benefit support services, retirement support services and temporary agencies.

Companies providing environmental and facilities maintenance services. Includes waste management, facilities management and pollution control services. Excludes large-scale water treatment systems classified in the Water Utilities Sub-Industry.

Companies primarily providing labor oriented support services to businesses and governments. Includes commercial cleaning services, dining & catering services, equipment repair services, industrial maintenance services, industrial auctioneers, storage & warehousing, transaction services, uniform rental services, and other business support services.

Companies providing security and protection services to business and governments. Includes companies providing services such as correctional facilities, security & alarm services, armored transportation & guarding. Excludes companies providing security software classified under the Systems Software Sub-Industry and home security services classified under the Specialized Consumer Services Sub-Industry. Also excludes companies manufacturing security system equipment classified under the Electronic Equipment & Instruments Sub-Industry.

Page 89: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

20 Industrials 2020 202020 20202010 Human Resource & Employment Services(continued) (continued)

20202020 Research & Consulting Services

2030 Transportation 203010 20301010 Air Freight & Logistics

203020 Airlines 20302010 Airlines

Companies providing primarily passenger air transportation.

203030 Marine 20303010 Marine

203040 Road & Rail 20304010 Railroads

Companies providing primarily goods and passenger rail transportation.

20304020 Trucking

Companies providing primarily goods and passenger land transportation. Includes vehicle rental and taxi companies.

203050 20305010 Airport Services

Operators of airports and companies providing related services.

20305020 Highways & Railtracks

Owners and operators of roads, tunnels and railtracks.

20305030 Marine Ports & Services

Owners and operators of marine ports and related services.

Commercial & Professional Services

Professional Services

Companies providing business support services relating to human capital management. Includes employment agencies, employee training, payroll & benefit support services, retirement support services and temporary agencies.

Companies primarily providing research and consulting services to businesses and governments not classified elsewhere. Includes companies involved in management consulting services, architectural design, business information or scientific research, marketing, and testing & certification services. Excludes companies providing information technology consulting services classified in the IT Consulting & Other Services Sub-Industry.

Air Freight & Logistics

Companies providing air freight transportation, courier and logistics services, including package and mail delivery and customs agents. Excludes those companies classified in the Airlines, Marine or Trucking Sub-Industries.

Companies providing goods or passenger maritime transportation. Excludes cruise-ships classified in the Hotels, Resorts & Cruise Lines Sub-Industry.

Transportation Infrastructure

Page 90: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

25 Consumer Discretionary 2510 Automobiles & Components 251010 Auto Components 25101010 Auto Parts & Equipment

25101020 Tires & Rubber

Manufacturers of tires and rubber.

251020 Automobiles 25102010 Automobile Manufacturers

25102020 Motorcycle Manufacturers

2520 Consumer Durables & Apparel 252010 Household Durables 25201010 Consumer Electronics

25201020 Home Furnishings

Manufacturers of soft home furnishings or furniture, including upholstery, carpets and wall-coverings.

25201030 Homebuilding

Residential construction companies. Includes manufacturers of prefabricated houses and semi-fixed manufactured homes.

25201040 Household Appliances

25201050 Housewares & Specialties

252020 25202010 Leisure Products

Manufacturers of leisure products and equipment including sports equipment, bicycles and toys.

25202020 Photographic Products

Manufacturers of photographic equipment and related products.

252030 25203010 Apparel, Accessories & Luxury Goods

25203020 Footwear

Manufacturers of footwear. Includes sport and leather shoes.

25203030 Textiles

Manufacturers of parts and accessories for automobiles and motorcycles. Excludes companies classified in the Tires & Rubber Sub-Industry.

Companies that produce mainly passenger automobiles and light trucks. Excludes companies producing mainly motorcycles and three-wheelers classified in the Motorcycle Manufacturers Sub-Industry and heavy duty trucks classified in the Construction & Farm Machinery & Heavy Trucks Sub-Industry.

Companies that produce motorcycles, scooters or three-wheelers. Excludes bicycles classified in the Leisure Products Sub-Industry.

Manufacturers of consumer electronics products including TVs, VCRs, hi-fi equipment, game consoles and related products. Excludes personal home computer manufacturers classified in the Computer Hardware Sub-Industry, and electric household appliances classified in the Household Appliances Sub-Industry.

Manufacturers of electric household appliances and related products. Includes manufacturers of power and hand tools, including garden improvement tools. Excludes TVs and other audio and video products classified in the Consumer Electronics Sub-Industry and personal computers classified in the Computer Hardware Sub-Industry.

Manufacturers of durable household products, including cutlery, cookware, glassware, crystal, silverware, utensils, kitchenware and consumer specialties not classified elsewhere.

Leisure Equipment & Products

Textiles, Apparel & Luxury Goods

Manufacturers of apparel, accessories & luxury goods. Includes companies primarily producing designer handbags, wallets, luggage, jewelry and watches. Excludes shoes classified in the Footwear Sub-Industry.

Manufacturers of textile and related products not classified in the Apparel, Accessories & Luxury Goods, Footwear or Home Furnishings Sub-Industries.

Page 91: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

25 Consumer Discretionary 2530 Consumer Services 253010 25301010 Casinos & Gaming(continued) Owners and operators of casinos and gaming facilities. Includes companies providing lottery and betting services.

25301020 Hotels, Resorts & Cruise Lines

25301030 Leisure Facilities

25301040 Restaurants

253020 25302010 Education Services

25302020 Specialized Consumer Services

2540 Media 254010 Media 25401010 Advertising

Companies providing advertising, marketing or public relations services.

25401020 Broadcasting

25401025 Cable & Satellite

Providers of cable or satellite television services. Includes cable networks and program distribution.

25401030 Movies & Entertainment

25401040 Publishing

Publishers of newspapers, magazines and books, and providers of information in print or electronic formats.

2550 Retailing 255010 Distributors 25501010 Distributors

Distributors and wholesalers of general merchandise not classified elsewhere. Includes vehicle distributors.

255020 25502010 Catalog Retail

Mail order and TV home shopping retailers. Includes companies that provide door-to-door retail.

25502020 Internet Retail

Companies providing retail services primarily on the internet, not classified elsewhere.

255030 Multiline Retail 25503010 Department Stores

Owners and operators of department stores.

25503020 General Merchandise Stores

255040 Specialty Retail 25504010 Apparel Retail

Retailers specialized mainly in apparel and accessories.

25504020 Computer & Electronics Retail

Owners and operators of consumer electronics, computers, video and related products retail stores.

25504030 Home Improvement Retail

Owners and operators of home and garden improvement retail stores. Includes stores offering building materials and supplies.

25504040 Specialty Stores

25504050 Automotive Retail

25504060 Homefurnishing Retail

Hotels, Restaurants & Leisure

Owners and operators of hotels, resorts and cruise-ships. Includes travel agencies, tour operators and related services not classified elsewhere . Excludes casino-hotels classified in the Casinos & Gaming Sub-Industry.

Owners and operators of leisure facilities, including sport and fitness centers, stadiums, golf courses and amusement parks not classified in the Movies & Entertainment Sub-Industry.

Owners and operators of restaurants, bars, pubs, fast-food or take-out facilities. Includes companies that provide food catering services.

Diversified Consumer Services

Companies providing educational services, either on-line or through conventional teaching methods. Includes, private universities, correspondence teaching, providers of educational seminars, educational materials and technical education. Excludes companies providing employee education programs classified in the Human Resources & Employment Services Sub-Industry

Companies providing consumer services not classified elsewhere. Includes residential services, home security, legal services, personal services, renovation & interior design services, consumer auctions and wedding & funeral services.

Owners and operators of television or radio broadcasting systems, including programming. Includes, radio and television broadcasting, radio networks, and radio stations.

Companies that engage in producing and selling entertainment products and services, including companies engaged in the production, distribution and screening of movies and television shows, producers and distributors of music, entertainment theaters and sports teams.

Internet & Catalog Retail

Owners and operators of stores offering diversified general merchandise. Excludes hypermarkets and large-scale super centers classified in the Hypermarkets & Super Centers Sub-Industry.

Owners and operators of specialty retail stores not classified elsewhere. Includes jewelry stores, toy stores, office supply stores, health & vision care stores, and book & entertainment stores.

Owners and operators of stores specializing in automotive retail. Includes auto dealers, gas stations, and retailers of auto accessories, motorcycles & parts, automotive glass, and automotive equipment & parts.

Page 92: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

30 Consumer Staples 3010 Food & Staples Retailing 301010 30101010 Drug Retail

Owners and operators of primarily drug retail stores and pharmacies.

30101020 Food Distributors

Distributors of food products to other companies and not directly to the consumer.

30101030 Food Retail

Owners and operators of primarily food retail stores.

30101040 Hypermarkets & Super Centers

3020 Food, Beverage & Tobacco 302010 Beverages 30201010 Brewers

Producers of beer and malt liquors. Includes breweries not classified in the Restaurants Sub-Industry.

30201020 Distillers & Vintners

Distillers, vintners and producers of alcoholic beverages not classified in the Brewers Sub-Industry.

30201030 Soft Drinks

302020 Food Products 30202010 Agricultural Products

30202020 Meat, Poultry & Fish (discontinued, effective March 28 2002)

Companies that raise livestock or poultry, fishing companies and other producers of meat, poultry or fish products.

30202030 Packaged Foods & Meats

Producers of packaged foods including dairy products, fruit juices, meats, poultry, fish and pet foods.

302030 Tobacco 30203010 Tobacco

Manufacturers of cigarettes and other tobacco products.

3030 Household & Personal Products 303010 Household Products 30301010 Household Products

303020 Personal Products 30302010 Personal Products

Manufacturers of personal and beauty care products, including cosmetics and perfumes.

Owners and operators of furniture and home furnishings retail stores. Includes residential furniture, homefurnishings, housewares, and interior design. Excludes home and garden improvement stores, classified in the Home Improvement Retail Sub-Industry.

Food & Staples Retailing

Owners and operators of hypermarkets and super centers selling food and a wide-range of consumer staple products. Excludes Food and Drug Retailers classified in the Food Retail and Drug Retail Sub-Industries, respectively.

Producers of non-alcoholic beverages including mineral waters. Excludes producers of milk classified in the Packaged Foods Sub-Industry.

Producers of agricultural products. Includes crop growers, owners of plantations and companies that produce and process foods but do not package and market them. Excludes companies classified in the Forest Products Sub-Industry and those that package and market the food products classified in the Packaged Foods Sub-Industry.

Producers of non-durable household products, including detergents, soaps, diapers and other tissue and household paper products not classified in the Paper Products Sub-Industry.

Page 93: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

35 Health Care 3510 Health Care Equipment & Services 351010 35101010 Health Care Equipment

35101020 Health Care Supplies

351020 35102010 Health Care Distributors

Distributors and wholesalers of health care products not classified elsewhere.

35102015 Health Care Services

35102020 Health Care Facilities

Owners and operators of health care facilities, including hospitals, nursing homes, rehabilitation centers and animal hospitals.

35102030 Managed Health Care

Owners and operators of Health Maintenance Organizations (HMOs) and other managed plans.

351030 35103010 Health Care Technology

3520 352010 Biotechnology 35201010 Biotechnology

352020 Pharmaceuticals 35202010 Pharmaceuticals

Companies engaged in the research, development or production of pharmaceuticals. Includes veterinary drugs.

352030 35203010 Life Sciences Tools & Services

Health Care Equipment & Supplies

Manufacturers of health care equipment and devices. Includes medical instruments, drug delivery systems, cardiovascular & orthopedic devices, and diagnostic equipment.

Manufacturers of health care supplies and medical products not classified elsewhere. Includes eye care products, hospital supplies, and safety needle & syringe devices.

Health Care Providers & Services

Providers of patient health care services not classified elsewhere. Includes dialysis centers, lab testing services, and pharmacy management services. Also includes companies providing business support services to health care providers, such as clerical support services, collection agency services, staffing services and outsourced sales & marketing services

Health Care Technology

Companies providing information technology services primarily to health care providers. Includes companies providing application, systems and/or data processing software, internet-based tools, and IT consulting services to doctors, hospitals or businesses operating primarily in the Health Care Sector

Pharmaceuticals, Biotechnology & Life Sciences

Companies primarily engaged in the research, development, manufacturing and/or marketing of products based on genetic analysis and genetic engineering. Includes companies specializing in protein-based therapeutics to treat human diseases

Life Sciences Tools & Services

Companies enabling the drug discovery, development and production continuum by providing analytical tools, instruments, consumables & supplies, clinical trial services and contract research services. Includes firms primarily servicing the pharmaceutical and biotechnology industries.

Page 94: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry40 Financials 4010 Banks 401010 Commercial Banks 40101010 Diversified Banks

40101015 Regional Banks

401020 40102010 Thrifts & Mortgage Finance

4020 Diversified Financials 402010 40201010 Consumer Finance -- Discontinued effective 04/30/2003.

40201020 Other Diversified Financial Services

40201030 Multi-Sector Holdings

40201040 Specialized Finance

402020 Consumer Finance 40202010 Consumer Finance

402030 Capital Markets 40203010 Asset Management & Custody Banks

40203020 Investment Banking & Brokerage

40203030 Diversified Capital Markets

Commercial banks whose businesses are derived primarily from commercial lending operations and have significant business activity in retail banking and small and medium corporate lending. Excludes banks classified in the Regional Banks and Thrifts & Mortgage Finance sub-industries. Also excludes investment banks classified in the Investment Banking & Brokerage Sub-Industry.

Commercial banks whose businesses are derived primarily from commercial lending operations and have significant business activity in retail banking and small and medium corporate lending. Regional banks tend to operate in limited geographic regions. Excludes companies classified in the Diversified Banks and Thrifts & Mortgage Banks sub-industries. Also excludes investment banks classified in the Investment Banking & Brokerage Sub-Industry.

Thrifts & Mortgage Finance

Financial institutions providing mortgage and mortgage related services. These include financial institutions whose assets are primarily mortgage related, savings & loans, mortgage GSE’s (government sponsored enterprises), mortgage lending institutions, building societies and companies providing insurance to mortgage banks.

Diversified Financial Services

Providers of consumer finance services, including personal credit, credit cards, lease financing, mortgage lenders, travel-related money services and pawn shops.

Providers of a diverse range of financial services and/or with some interest in a wide range of financial services including banking, insurance and capital markets, but with no dominant business line.

A company with significantly diversified holdings across three or more sectors, none of which contributes a majority of profit and/or sales. Stakes held are predominantly of a non-controlling nature. Includes diversified financial companies where stakes held are of a controlling nature. Excludes other diversified companies classified in the Industrials Conglomerates Sub-Industry.

Providers of specialized financial services. Includes credit agencies, stock exchanges and specialty boutiques. Companies in this Sub-Industry derive a majority of revenue from one, specialized line of business.

Providers of consumer finance services, including personal credit, credit cards, lease financing, travel-related money services and pawn shops. Excludes mortgage lenders classified in the Thrifts & Mortgage Banks Sub-Industry.

Financial institutions primarily engaged in investment management and/or related custody and securities fee-based services. Includes companies operating mutual funds, closed-end funds and unit investment trusts. Excludes banks and other financial institutions primarily involved in commercial lending, investment banking, brokerage and other specialized financial activities.

Financial institutions primarily engaged in investment banking & brokerage services, including equity and debt underwriting, mergers and acquisitions, securities lending and advisory services. Excludes banks and other financial institutions primarily involved in commercial lending, asset management and specialized financial activities.

Financial institutions primarily engaged in diversified capital markets activities, including a significant presence in at least two of the following area: large/major corporate lending, investment banking, brokerage and asset management. Excludes less diversified companies classified in the Asset Management & Custody Banks or Investment Banking & Brokerage sub-industries. Also excludes companies classified in the Banks or Insurance industry groups or the Consumer Finance Sub-Industry.

Page 95: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry40 Financials 4030 Insurance 403010 Insurance 40301010 Insurance Brokers

(continued) Insurance and reinsurance brokerage firms.

40301020 Life & Health Insurance

40301030 Multi-line Insurance

Insurance companies with diversified interests in life, health and property and casualty insurance.

40301040 Property & Casualty Insurance

Companies providing primarily property and casualty insurance.

40301050 Reinsurance

Companies providing primarily reinsurance.

4040 Real Estate 404010 40401010 Real Estate Investment Trusts -- Discontinued effective 04/28/2006

Real estate investment trusts (REITs). Includes Property Trusts.

40401020 Real Estate Management & Development -- Discontinued effective 04/28/2006

Companies engaged in real estate ownership, development or management.

404020 40402010 Diversified REIT's

A company or Trust with significantly diversified operations across two or more property types.

40402020 Industrial REIT's

40402030 Mortgage REIT's

40402040 Office REIT's

Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of office properties.

40402050 Residential REIT's

40402060 Retail REIT's

40402070 Specialized REIT's

404030 40403010 Diversified Real Estate Activities

40403020 Real Estate Operating Companies

Companies engaged in operating real estate properties for the purpose of leasing & management.

40403030 Real Estate Development

40403040 Real Estate Services

Real estate service providers such as real estate agents, brokers & real estate appraisers.

Companies providing primarily life, disability, indemnity or supplemental health insurance. Excludes managed care companies classified in the Managed Health Care Sub-Industry.

Real Estate -- Discontinued effective 04/28/2006

Real Estate Investment Trusts (REITs)

Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of industrial properties. Includes companies operating industrial warehouses and distribution properties.

Companies or Trusts that service, originate, purchase and/or securitize residential and/or commercial mortgage loans. Includes trusts that invest in mortgage-backed securities and other mortgage related assets.

Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of residential properties including multifamily homes, apartments, manufactured homes and student housing properties

Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of shopping malls, outlet malls, neighborhood and community shopping centers.

Companies or Trusts engaged in the acquisition, development, ownership, leasing, management and operation of properties not classified elsewhere. Includes trusts that operate and invest in health care, leisure, hotel/resort and storage properties. It also includes REITs that do not generate a majority of their revenues and income from real estate rental and leasing operations.

Real Estate Management & Development

Companies engaged in a diverse spectrum of real estate activities including real estate development & sales, real estate management, or real estate services, but with no dominant business line.

Companies that develop real estate and sell the properties after development. Excludes companies classified in the Homebuilding Sub-Industry.

Page 96: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

45 Information Technology 4510 Software & Services 451010 45101010 Internet Software & Services

451020 IT Services 45102010 IT Consulting & Other Services

45102020 Data Processing & Outsourced Services

451030 Software 45103010 Application Software

45103020 Systems Software

Companies engaged in developing and producing systems and database management software.

45103030 Home Entertainment Software

Manufacturers of home entertainment software and educational software used primarily in the home.

Internet Software & Services

Companies developing and marketing internet software and/or providing internet services including online databases and interactive services, web address registration services, database construction and internet design services. Excludes companies classified in the Internet Retail Sub-Industry.

Providers of information technology and systems integration services not classified in the Data Processing & Outsourced Services or Internet Software & Services Sub-Industries. Includes information technology consulting and information management services.

Providers of commercial electronic data processing and/or business process outsourcing services. Includes companies that provide services for back-office automation.

Companies engaged in developing and producing software designed for specialized applications for the business or consumer market. Includes enterprise and technical software. Excludes companies classified in the Home Entertainment Software Sub-Industry. Also excludes companies producing systems or database management software classified in the Systems Software Sub-Industry.

Page 97: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

45 Information Technology 4520 Technology Hardware & Equipment 452010 45201020 Communications Equipment(continued)

45201010 Networking Equipment -- Discontinued effective 04/30/2003.

Manufacturers of computer networking equipment and products, including LANs, WANs and routers.

45201020 Telecommunications Equipment -- Discontinued effective 04/30/2003.

452020 45202010 Computer Hardware

45202020 Computer Storage & Peripherals

452030 45203010 Electronic Equipment & Instruments

45203015 Electronic Components

45203020 Electronic Manufacturing Services

Producers of electronic equipment mainly for the OEM (Original Equipment Manufacturers) markets.

45203030 Technology Distributors

452040 Office Electronics 45204010 Office Electronics

Manufacturers of office electronic equipment including copiers and faxes.

452050 45205010 Semiconductor Equipment -- Discontinued effective 04/30/2003.

Manufacturers of semiconductor equipment.

45205020 Semiconductors -- Discontinued effective 04/30/2003.

Manufacturers of semiconductors and related products.

4530 453010 45301010 Semiconductor Equipment

45301020 Semiconductors

Manufacturers of semiconductors and related products, including manufacturers of solar modules and cells.

Communications Equipment

Manufacturers of communication equipment and products, including LANs, WANs, routers, telephones, switchboards and exchanges.

Manufacturers of telecommunication equipment, including telephones, switchboards and exchanges. Excludes companies classified in the Networking Equipment Sub-Industry.

Computers & Peripherals

Manufacturers of personal computers, servers, mainframes and workstations. Includes manufacturers of Automatic Teller Machines (ATMs). Excludes manufacturers of copiers, faxes and related products classified in the Office Electronics Sub-Industry.

Manufacturers of electronic computer components and peripherals. Includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers and other peripherals. Excludes semiconductors classified in the Semiconductors Sub-Industry.

Electronic Equipment, Instruments & Components

Manufacturers of electronic equipment and instruments including analytical, electronic test and measurement instruments, scanner/barcode products, lasers, display screens, point-of-sales machines, and security system equipment.

Manufacturers of electronic components. Includes electronic components, connection devices, electron tubes, electronic capacitors and resistors, electronic coil, printed circuit board, transformer and other inductors, signal processing technology/components.

Distributors of technology hardware and equipment. Includes distributors of communications equipment, computers & peripherals, semiconductors, and electronic equipment and components.

Semiconductor Equipment & Products -- Discontinued effective 04/30/2003.

Semiconductors & Semiconductor Equipment

Semiconductors & Semiconductor Equipment

Manufacturers of semiconductor equipment, including manufacturers of the raw material and equipment used in the solar power industry.

Page 98: Relative PE Ratios - Technology & Industrial Sectors

GICS (Global Industry Classification Standard)Effective after close of business (US, EST) Wednesday June 30, 2010Red indicates name, definition or structure changes.http://www.standardandpoors.com/indices/gics/en/usSector Industry Group Industry Sub-Industry

50 5010 Telecommunication Services 501010 50101010 Alternative Carriers

50101020 Integrated Telecommunication Services

501020 50102010 Wireless Telecommunication Services

Providers of primarily cellular or wireless telecommunication services, including paging services.

55 Utilities 5510 Utilities 551010 Electric Utilities 55101010 Electric Utilities

Companies that produce or distribute electricity. Includes both nuclear and non-nuclear facilities.

551020 Gas Utilities 55102010 Gas Utilities

551030 Multi-Utilities 55103010 Multi-Utilities

Utility companies with significantly diversified activities in addition to core Electric Utility, Gas Utility and/or Water Utility operations.

551040 Water Utilities 55104010 Water Utilities

Companies that purchase and redistribute water to the end-consumer. Includes large-scale water treatment systems.

551050 55105010 Independent Power Producers & Energy Traders

Telecommunication Services

Diversified Telecommunication Services

Providers of communications and high-density data transmission services primarily through a high bandwidth/fiber-optic cable network.

Operators of primarily fixed-line telecommunications networks and companies providing both wireless and fixed-line telecommunications services not classified elsewhere.

Wireless Telecommunication Services

Companies whose main charter is to distribute and transmit natural and manufactured gas. Excludes companies primarily involved in gas exploration or production classified in the Oil & Gas Exploration & Production Sub-Industry. Also excludes diversified midstream natural gas companies classified in the Oil & Gas Storage & Transportation Sub-Industry.

Independent Power Producers & Energy Traders

Companies that operate as Independent Power Producers (IPPs), Gas & Power Marketing & Trading Specialists and/or Integrated Energy Merchants. Includes producers of solar power and wind power, used to generate electricity. Also includes companies that generate electricity and/or power through alternative energy sources such as biogas, biomass, clean energy, geothermal, waste, water and waves. Excludes electric transmission companies and utility distribution companies classified in the Electric Utilities Sub-Industry.

Page 99: Relative PE Ratios - Technology & Industrial Sectors

Industrial IndustriesCapital Goods

Aerospace & DefenseBuilding ProductsConstruction & EngineeringElectrical EquipmentIndustrial ConglomeratesMachineryTrading Companies & Distributors

Commercial & Professional ServicesCommercial Services & SuppliesProfessional Services

TransportationAir Freight & LogisticsAirlinesMarineRailroadTruckingTransportation Infrastructure

Information TechnologySoftware & Services

Internet Software & ServicesIT ServicesSoftware

Technology Hardware & EquipmentCommunications EquipmentComputers & PeripheralsElectronic Equipment, Instruments & ComponentsOffice Electronics

Semiconductors & Semiconductor EquipmentSemiconductors & Semiconductor Equipment


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