35 industries 1,033 companies value 9.3 tn revenue 4.3 tn
| Industry | n | Value | Revenue | Margin | Cash | Group leader | Concentration |
|---|---|---|---|---|---|---|---|
| Large-cap pharmaceuticals | 9 | 3.1 tn | 483 bn | 17.8% | 119 bn | LLY 37.6% | Open contest |
| Biotechnology | 57 | 850 bn | 137 bn | 9.6% | 32 bn | AMGN 27.0% | Evenly matched |
| European pharmaceuticals | 5 | 806 bn | 240 bn | 14.7% | 55 bn | NVS 35.6% | Open contest |
| Lab tools and consumables | 37 | 688 bn | 130 bn | 11.6% | 20 bn | TMO 36.5% | Open contest |
| Health insurance and services | 17 | 656 bn | 1.4 tn | 1.6% | 56 bn | UNH 55.6% | Comfortable leader |
| Medical devices | 87 | 600 bn | 185 bn | 10.2% | 26 bn | ABT 30.0% | Open contest |
| Specialty pharmaceuticals | 77 | 245 bn | 44 bn | -7.5% | 0.7 bn | ONC 17.2% | Evenly matched |
| Pharmaceutical distribution | 7 | 242 bn | 998 bn | 0.9% | 15 bn | MCK 48.8% | Comfortable leader |
| Clinical-stage pharmaceuticals | 251 | 203 bn | 1.5 bn | -342.7% | -19 bn | RVMD 19.2% | Evenly matched |
| Robotic surgery and advanced medtech | 9 | 155 bn | 12 bn | 24.8% | 3.0 bn | ISRG 98.6% | Clear leader |
| Hospitals | 23 | 154 bn | 158 bn | 6.6% | 11 bn | HCA 64.2% | Clear leader |
| Emerging biotech | 5 | 140 bn | 21 bn | 19.2% | 3.8 bn | ARGX 36.5% | Open contest |
| Molecular testing and advanced diagnostics | 42 | 131 bn | 14 bn | -20.6% | -1.1 bn | NTRA 44.0% | Comfortable leader |
| Vaccines and mRNA | 14 | 126 bn | 7.2 bn | -76.2% | -2.7 bn | MRNA 71.9% | Clear leader |
| Clinical-stage biotech | 200 | 120 bn | 0.8 bn | -891.3% | -15 bn | SMMT 10.3% | Evenly matched |
| Generics and biosimilars | 10 | 93 bn | 50 bn | -7.6% | 4.3 bn | TEVA 51.7% | Comfortable leader |
| Animal health | 7 | 93 bn | 22 bn | 16.8% | 4.0 bn | IDXX 47.2% | Comfortable leader |
| Contract research (CRO) | 10 | 93 bn | 36 bn | 3.8% | 4.3 bn | IQV 47.3% | Comfortable leader |
| Consumer health (OTC) | 4 | 84 bn | 31 bn | 12.8% | 5.2 bn | HLN 54.0% | Comfortable leader |
| Healthcare software | 18 | 78 bn | 9.7 bn | 9.2% | 2.8 bn | VEEV 65.8% | Clear leader |
| Rehabilitation and home care | 15 | 69 bn | 55 bn | 4.1% | 3.3 bn | BTSG 17.5% | Evenly matched |
| Genomics and sequencing | 9 | 69 bn | 7.9 bn | 8.2% | 1.1 bn | ILMN 57.5% | Comfortable leader |
| Structural heart | 8 | 68 bn | 9.1 bn | 11.2% | 1.5 bn | EW 74.4% | Clear leader |
| Ophthalmology | 12 | 65 bn | 25 bn | 3.5% | 2.5 bn | ALC 49.3% | Comfortable leader |
| Medical imaging and hospital equipment | 16 | 64 bn | 43 bn | 6.3% | 2.3 bn | GEHC 49.1% | Comfortable leader |
| Diagnostic labs | 6 | 60 bn | 30 bn | 6.5% | 2.7 bn | DGX 43.6% | Comfortable leader |
| Medical and dental supply distribution | 3 | 56 bn | 46 bn | 2.7% | 1.8 bn | MDLN 83.2% | Clear leader |
| Diabetes monitoring | 9 | 50 bn | 14 bn | 6.7% | 1.3 bn | DXCM 64.7% | Clear leader |
| Pharmaceutical royalties | 5 | 44 bn | 3.3 bn | 36.8% | 3.2 bn | RPRX 78.9% | Clear leader |
| Respiratory and sleep therapy | 9 | 37 bn | 7.1 bn | 19.9% | 1.6 bn | RMD 93.0% | Clear leader |
| Orthopedic implants | 17 | 35 bn | 17 bn | -0.6% | 2.3 bn | ZBH 51.6% | Comfortable leader |
| Dialysis | 3 | 24 bn | 36 bn | 5.9% | 4.8 bn | FMS 50.5% | Comfortable leader |
| Telehealth and digital health | 12 | 18 bn | 7.6 bn | -8.6% | 0.5 bn | HNGE 47.6% | Comfortable leader |
| Dental | 4 | 16 bn | 11 bn | -0.4% | 1.0 bn | ALGN 66.2% | Clear leader |
| Medical and recreational cannabis | 16 | 5.5 bn | 5.8 bn | -7.7% | 0.3 bn | TRLV 36.3% | Open contest |
The 20 largest companies in the sector
| Rank | Ticker | Company | Industry | Value | Revenue | Margin | FCF |
|---|---|---|---|---|---|---|---|
| 1 | LLY | Eli Lilly United States · score 6.5 | Large-cap pharmaceuticals | 1.2 tn | 80 bn | 33.5% | 28 bn |
| 2 | JNJ | Johnson & Johnson United States · score 6.3 | Large-cap pharmaceuticals | 612 bn | 98 bn | 21.5% | 22 bn |
| 3 | ABBV | AbbVie United States · score 5.4 | Large-cap pharmaceuticals | 500 bn | 64 bn | 9.8% | 18 bn |
| 4 | UNH | UnitedHealth Group United States · score 6.6 | Health insurance and services | 365 bn | 450 bn | 3.1% | 24 bn |
| 5 | MRK | Merck & Co. United States · score 5.9 | Large-cap pharmaceuticals | 354 bn | 67 bn | 4.8% | 16 bn |
| 6 | NVS | Novartis Switzerland · score 7.2 | European pharmaceuticals | 287 bn | 55 bn | 23.3% | 17 bn |
| 7 | AZN | AstraZeneca United Kingdom · score 6.5 | European pharmaceuticals | 254 bn | 61 bn | 17.0% | 11 bn |
| 8 | TMO | Thermo Fisher Scientific United States · score 5.2 | Lab tools and consumables | 251 bn | 46 bn | 15.0% | 7.3 bn |
| 9 | AMGN | Amgen United States · score 6.5 | Biotechnology | 230 bn | 38 bn | 23.0% | 10 bn |
| 10 | GILD | Gilead Sciences United States · score 4.7 | Biotechnology | 190 bn | 30 bn | -10.6% | 13 bn |
| 11 | ABT | Abbott Laboratories United States · score 6.4 | Medical devices | 180 bn | 47 bn | 11.6% | 7.8 bn |
| 12 | NVO | Novo Nordisk Denmark · score 7.4 | Large-cap pharmaceuticals | 172 bn | 46 bn | 33.1% | 8.8 bn |
| 13 | PFE | Pfizer United States · score 5.5 | Large-cap pharmaceuticals | 168 bn | 64 bn | 6.8% | 11 bn |
| 14 | DHR | Danaher United States · score 5.5 | Lab tools and consumables | 158 bn | 25 bn | 15.9% | 5.5 bn |
| 15 | ISRG | Intuitive Surgical United States · score 6.1 | Robotic surgery and advanced medtech | 153 bn | 11 bn | 28.4% | 3.2 bn |
| 16 | VRTX | Vertex Pharmaceuticals United States · score 6.0 | Biotechnology | 127 bn | 13 bn | 35.0% | 3.8 bn |
| 17 | BMY | Bristol-Myers Squibb United States · score 7.6 | Large-cap pharmaceuticals | 120 bn | 49 bn | 18.9% | 11 bn |
| 18 | MDT | Medtronic Ireland/United States · score 6.5 | Medical devices | 119 bn | 38 bn | 13.9% | 6.1 bn |
| 19 | MCK | McKesson United States · score 5.1 | Pharmaceutical distribution | 118 bn | 411 bn | 1.1% | 6.4 bn |
| 20 | SYK | Stryker United States · score 6.3 | Medical devices | 114 bn | 26 bn | 14.4% | 4.7 bn |
Other sectors
What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.
The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.
The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.