Sources of Financial Ratios

The major sources for financial ratios are published by Dun and Bradstreet (D&B), Robert Morris Associates (RMA), and Leo Troy. D&B gives ratios for the largest number of industry groups. RMA gives the largest number of ratios and also provides figures for the preceding five years. Troy's Almanac gives the most detailed income statement ratios and its figures are derived from the largest database. All three give ratios and other financial information for U.S. public corporations only. Troy's Partnership Almanac gives ratios for the U.S. unincorporated (privately-owned) partnerships within selected industries.

Industry Norms and Key Business Ratios. Fourteen ratios for about 800 selected four-digit SIC codes. Based on Dun & Bradstreet=s own database of credit reports, this includes more industry groups than RMA or Troy, but less information about each group.

RMA Annual Statement Studies. Seventeen ratios for about 350 selected four-digit SIC codes. Tables include quartile measures and industry-wide figures for total sales and assets. An excellent introduction defines and explains each ratio.

Almanac of Business and Industrial Financial Ratios. Ten ratios for about 180 selected four-digit SIC codes including a detailed breakdown by size of assets. Figures are based on IRS annual statistics, which provide a larger database than that used by either D&B or RMA, but these statistics are slow to appear and provide no balance sheet data. The income statement ratios, however, are very detailed. Trends in selected ratios and factors over a ten-year period are shown for each industry group.

Partnership Almanac: A Sourcebook of Financial Data, Trends, and Performance Ratios. The best source of ratios for unincorporated (private) partnerships. Arranged according to "partnership codes," an appendix gives SIC code equivalents. The best source for industry-wide financial information on professions such as accounting and law, as well as an excellent source for information on small businesses.

Disclosure Database provides detailed information, including financial ratios, on over 100,000 publicly owned U.S. corporations. To find financial ratios, search by company name or SIC code, then pull down "Display" in the menu bar and select "Financial Ratios."

Additional Sources

Irwin Business and Investment Almanac. An excellent all-round source of financial information. The ratios cover twelve broad industry groups and are taken from the Bureau of Census, Quarterly Financial Report (see below).

Analyst's Handbook. Ratios for Standard & Poor categories including the S&P 500. Charts include current and historical data (covering the preceding 10 to 30 years). Graphs show market performance of stocks by industry group as compared to the S&P 500. Income account, financial ratio and balance sheet data are given for current and preceding five years.

U.S. Bureau of the Census. Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations. Ratios for major SIC code groups by asset size.

Where To Look To Find More Ratios

Many trade associations and other specialized organizations also publish financial ratios, and ratios sometimes appear in newspaper and journal articles. The following sources can help you identify where such ratios are published.

Encyclopedia of Business Information Sources. The most complete directory of trade and other business-related organizations.

Predicasts F & S Index: United States. Indexes the major business publications including the Wall Street Journal and the major professional and trade journals. Articles are indexed by company name and by industry code.

Business Information: How to find it, How to use it. The best all-around guide to business information. It lists the major sources of information, evaluates them, and explains how to use them.

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