Full text of Profit Rates of Manufacturing Corporations, 1947-62
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Federal Trade Commission
Profit Rates
of Manufacturing Corporations
1947-62
Washington 25, D. C. : 1963
CONTENTS
Page
Introduction
v
Profits per dollar of sales, by industry
Table 1. - before Federal income taxes
Table 2. - after taxes
Annual rates of profit on stockholders
6
14
1
equity, by industry
Table 3. - before Federal income taxes
22
Table 4. - after taxes
30
Profits per dollar of sales, by asset size
Table 5. - before Federal income taxes
38
Table 6. - after taxes
42
Annual rates of profit on stockholders
1
equity, by asset size
Table 7. - before Federal income taxes
46
Table 8. - after taxes
50
Definitions of the industry groups
54
Quarterly financial report form
59
Nature of business report form
61
Explanatory notes
63
Table 9* - Composition of the FTC-SEC sample
70
iii
INTRODUCTION
The profit rates of the 63 industry and size t groups of manufacturing corporations tabulated in this reference manual were compiled
from past issues of the Quarterly Financial Report for Manufacturing
Corporations, prepared jointly since 1947 by the Division of Financial
Statistics in the Federal Trade Commission and the Branch of Economic
Research in the Securities and Exchange Commission*
These profit rates are based on uniform, confidential, quarterly
financial statements collected from a probability sample of all enterprises classified as manufacturers, except newspapers, which are required to file U.SN.' Corporation Income Tax Form 1120. A facsimile of
the Federal Trade Commission's quarterly financial report form used in
1962 appears on pages 59 and 60 of this reference manual.
The purpose of this sample survey is to produce, each calendar
quarter, an income statement and balance sheet for all manufacturing
corporations, classified by both industry and asset size. The size
groups are based on the total assets of the reporting corporation,
including all subsidiaries which were fully consolidated in the reporting company's latest report to its stockholders. The industry
groups are defined on pages 54 to 58, inclusive, and are based on the
Standard Enterprise Classification which was developed to classify
enterprises (especially corporate enterprises) by type of activity in
which engaged. The structure of the Standard Enterprise Classification follows closely that of the Standard Industrial Classification
which is used to classify establishments. A facsimile of the Federal
Trade Commission's nature of business report form used to classify a
reporting enterprise by industry appears on pages 61 and 62.
A more detailed description of the quarterly
financial reporting
11
program may be found in the "Explanatory Notes which appear in the
current issues of the published quarterly summaries and are reprinted
in their entirety on pages 63 to 7 0 , inclusive, of this reference
manual.
The Quarterly Financial Report for Manufacturing Corporations is
available by subscription from the Superintendent of Documents, U.S.
Government Printing Office, Washington 25, D . C. A subscription for
three years (12 quarterly issues) may be obtained for $3.75, plus
$1.50 additional if mailed to a foreign address.
v
Table 2. - PROFITS PER DOLLAR OF SALES,
6
Q1
12.4
1947
Q2
Q3
11.1 10.6
Q4
10.1
12.8
11.5
10.8
10 ..6
. . . .
12.5
11.1
10.3
10.3
Transportation equipment
Motor vehicles and equipment
Aircraft and parts
Electrical machinery, equipment, and supplies
9.8
11.2
8.7
10.4
8.5
10.3
8.2
10.8
*
*
*
10.3
12.8
9.9
11.5
10.5
11.1
Industry
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
Metalworking machinery and equipment. . . .
Other fabricated metal products
Primary metal industries
Blast furnaces, steel works, and foundries.
Nonferrous metals
*
11.0
13.2
*
*
*
. *
14.1
14.4
13.6
16.2
12.1
11.6
10.3
14.9
11.5
10.5
10.1
11.6
11.1
11.4
9.9
15.6
14.2
13.5
13.0
12.2
19.5
11.1
13.9
13.6
12.1
18.3
11.0
13.9
11.9
10.8
16.7
10.1
12.4
12.1
12.1
17.9
8.4
12.4
12.7
8.4
12.1
10.7
10.4
9.8
...
14.8
13.5
13.5
13.0
Chemicals and allied products
Basic chemicals and related products. . . .
17.0
14.1
13.4
12.5
*
*
*
*
*
*
13.8
14.4
15.5
14.6
Other durable goods industries
Lumber and wood products, except furniture. .
Instruments and related .products
Miscellaneous manufacturing, and ordnance . .
Chemicals; petroleum; rubber and plastics
Petroleum refining and related industries . .
Rubber and miscellaneous plastics products. .
*
*
*
*
*
10.9
8.8
6.8
8.8
10.8
9.4
9.0
8.2
8.1
7.0
7.3
6.3
*
*
*
*
*
*
*
*
*
6.8
6.1
6.7
7.2
15.9
8.9
19.6
12.7
10.1
13.6
7.6
18.1
11.3
7.2
12.1
7.9
16.8
10.7
6.7
13.1
6.9
15.1
6.0
5.9
*
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
Leather and leather products
*
Not available
*
*
*
BY I N D U S T R Y , BEFORE FEDERAL INCOME TAXES (Percent)
1948
1949
qi
q2
Q3
Q4
11.5
11.1
11.0
11.7
11.5
11.5
01
10.9
9.9
11.6
12.4
11.1
11.3
12.6
10.1
9.8
10.7
11.1
10.7
12.5
*
*
7
*
1950
92
93
Q4
8.5
9.5
11.4
9.6
11.6
12.5
13.7
*
01
02
03
Q4
9.3
10.1
11.8
13.5
14.9
10.8
10.7
11.8
14.2
15.4
17.0
9.7
10.9
10.8
12.0
14.2
15.1
17.0
10.9
10.7
13.6
12.5
13.4
16.2
16.5
16.8
12.0
12.1
15.4
14.3
15.3
17.8
18.0
18.3
*
*
*
*
*
*
*
*
10.4
10.3
9.0
10.7
9.0
7.1
7.9
12.5
11.3
11.7
14.0
18.6
12.6
12.1
11.5
12.0
11.8
10.7
10.2
9.7
10.7
12.6
13.6
15.6
*
•
*
it
12.0
11.4
11.4
*
*
it
*
*
*
11.2
9.8
7.1
9.5
8.4
9.7
11.4
13.0
14.4
18.7
*
*
*
12.3
11.7
12.5
14.7
13.9
10.0
9.7
9.9
12.9
15.3
16.1
11.3
11.0
12.5
14.2
13.4
10.8
10.0
9.3
12.7
15.1
15.7
17.8
14.6
13.3
12.6
16.2
15.2
7.5
8.8
11.3
13.5
15.9
17.1
21.1
12.9
13.0
13.1
11.3
10.3
9.3"
10.5
10.0
10.5
14.1
16.6
17.0
19.4
16.1
15.1
11.0
10.4
9.2
8.1
9.4
11.2
15.2
18.5
17.2
11.1
9.9
8.3
7.5
6.5
5.2
5.7
6.1
5.9
8.4
9.5
11.4
11.0
14.9
15.5
14.1
12.3
14.0
15.7
13.6
14.1
18.9
20.5
20.5
12.1
12.7
12.3
13.0
12.0
11.3
11.5
11.7
12.6
14.3
16.8
18.7
9.6
,8.8
10.8
8.7
8.4
2.7
6.9
6.7
5.5
7.7
12.5
13.7
11.4
10.8
10.5
9.5
8.7
7.5
8.4
8.2
8.6
9.5
11.8
12.9
16.5
15.4
14.8
13.8
12.8
10.7
11.9
11.9
12.2
14.2
16.7
19.3
15.1
12.8
14.5
13.3
13.2
10.8
14.5
14.4
15.6
17.1
20.5
21.1
*
*
*
*
18.8
19.1
*
*
16.4
*
*
*
*
*
*
*
*
15.2
13.8
11.8
11.6
*
*
10.9
*
*
10.7
*
*
*
*
*
*
*
*
7.7
8.8
7.8
8.4
6.2
5.0
4 . 5
8.2
6.6
8.6
8 . 3
8.2
7.1
6.4
5.8
6.7
6.2
6.6
5.0
5.6
6.1
5.5
4.6
5.6
*
*
*
*
*
6.5
5.3
*
*
*
*
*
6.6
6.6
9.7
10.1
15.1
14.7
12.8
7.6
4.8
5.9
15.9
14.6
9.2
5.9
*
*
*
.
*
*
*
*
*
7.7
8.2
8 . 5
11.3
8.9
4.9
5.9
2.3
4.8
3.1
4 . 3
12.8
12.0
11.5
9.1
9.5
9.4
9.4
6.2
9.1
7.7
5.7
6.2
4.5
4.1
2.9
*
*
*
*
*
*
it
*
*
13.5
*
*
it
15.2
*
*
*
19.1
*
11.4
14.7
6.9
9.1
9.1
4.8
5.6
7.5
6.3
*
*
*
*
*
*
*
*
•
7.8
*
*
7.4
8.1
10.1
10.0
7.8
9.0
8.9
11.4
12.2
2.6
3.5
3.3
6.3
6.0
12.0
12.3
13.6
15.6
18.9
8.6
4 . 3
8.5
6.8
9.4
7.0
4 . 3
4 . 3
4.2
4.9
7.4
8.7
8.2
*
*
8
Table 2. - PROFITS PER DOLLAR OF SALES,
1951
Industry
Q2
Q3
Q4
All manufacturing corporations, except newspapers
Q1
12.4
11.7
10.5
10.1
Durable goods industries
14.4
13.8
12.3
12.3
. . . .
14.6
13.9
12.5
13.0
Transportation equipment
'
Motor vehicles and equipment
Aircraft and parts
Electrical machinery, equipment, and supplies
12.6
13.7
12.3
13.5
10.9
12.2
*
*
11.5
13.0
15.2
14.8
12.3
14.2
11.8
12.8
13.9
is.4
*
*
Metals and metal fabricating industries
Metalworking machinery and equipment. . . .
Other fabricated metal products
.
Primary metal industries
Blast furnaces, steel works, and foundries.
*
*
•k
*
13.5
16.7
16.6
17.0
12.2
17.1
16.7
18.0
10.8
15.3
15.4
15.1
10.2
15.3
15.3
15.3
13.8
13.2
11.6
9.4
13.8
9.3
18.7
15.8
10.6
12.6
8.3
19.2
15.3
8.6
9.7
7.1
17.7
14.5
7.0
6.9
5.8
13.5
13.6
6.9
10.8
10.0
8.9
8.1
Chemicals; petroleum; rubber and plastics . . .
17.0
15.9
15.6
14.9
Chemicals and allied products . .
Basic chemicals and related products. . « .
19.0
15.9
16.0
14.8
*
*
*
*
*
*
*
*
16.4
16.6
13.0
16.9
17.2
12.2
16.8
17.1
9.8
15.9
16.3
11.3
7.7
7.1
5.7
4.9
4.8
4.4
4.4
*
3.8
*
*
*
*
*
*
*
*
*
*
8.9
8.2
8.8
9.0
12.3
3.5
18.8
7.3
4.6
10.5
2.0
18.6
8.6
4.0
5.6
1.8
15.9
8.0
4.0
5.2
1.3
13.4
7.4
0.0
Lumber and wood products, except furniture. .
Furniture and fixtures
Stone, clay, and glass products
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Petroleum refining and related industries . .
Rubber and miscellaneous plastics products. .
Food and kindred products
*
Textile mill products
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
*
Not available
BY I N D U S T R Y , BEFORE FEDERAL INCOME TAXES (Percent)
1952
Ql
9.9
Q2
1953
Q3
Q4
9.2
8.9
8.6
Ql
10.0
11.8
11.0
9.7
10.0
12.4
11.2
9.6
11.5
13.0
12.6
14.8
11.5
13.2
*
12.6
13.3
*
ft
ft
9
Q3
Q4
10.4
9.6
11.4
11.9
10.4
11.8
9.3
10.4
10.4
12.0
10.6
10.8
11.8
9.9
*
ft
ft
*
Q2
1954
Q2
Q3
Q4
6.7
Ql
8.4
8.9
8.2
8.2
10.4
6.7
9.1
10.0
8.9
8.9
12.0
10.4
6.8
9.4
10.2
8.6
8.9
11.4
13.0
11.4
12.9
9.4
10.6
6.5
6.5
9.8
11.1
10.9
12.4
8.2
8.6
9.5
10.5
12.6
11.8
12.2
12.1
10.3
10.0
7.2
6.4
10.0
9.9
9.5
10.3
8.2
9.0
8.5
7.4
*
*
ft
ft
ft
ft
ft
ft
*
*
ft
ft
ft
ft
ft
ft
9.5
13.9
13.2
15.5
9.1
7.7
4.8
13.3
8.5
8.7
7.6
10.8
7.2
11.4
11.5
11.2
8.7
13.6
13.3
14.5
9.0
14.5
14.8
13.8
8.5
13.3
13.9
11.9
5.4
8.1
7.7
9.0
6.2
9.9
9.6
10.6
7.3
11.1
10.8
11.9
7.2
10.2
9.7
11.0
5.2
11.9
12.0
11.7
9.2
10.1
10.4
8.2
9.4
11.1
10.4
6.1
7.2
9.3
10.3
9.0
7.3
6.2
13.2
12.7
6.2
8.1
6.0
15.7
12.7
6.2
8.4
6.0
16.2
12.6
6.8
5.4
6.4
12.3
10.9
5.8
6.3
7.1
14.3
12.5
6.4
8.1
7.1
17.8
12.8
7.3
6.6
5.7
16.6
12.4
7.3
4.1
3.8
8.3
8.8
4.5
3.7
3.8
11.0
10.9
5.0
6.3
4.4
15.8
10.6
5.5
6.4
5.3
16.7
12.2
6.4
7.9
5.6
12.3
11.6
6.2
8.2
7.6
8.2
7.2
8.5
8.6
8.7
6.7
7.8
7.7
7.6
7.4
14.3
12.6
13.1
12.0
13.9
13.6
13.6
11.2
12.8
12.3
12.0
12.4
15.1
13.7
14.2
*
*
*
*
13.1
15.3
14.6
*
*
14.5
10.7
13.0
12.8
13.4
12.9
14.8
15.1
9.7
12.5
12.7
9.6
13.2
13.4
9.1
12.2
12.5
8.1
13.6
13.8
10.2
13.6
13.7
10.7
5.0
5.1
5.8
4.8
5.7
3.6
4.1
5.0
3.9
4.0
*
*
*
*
ft
ft
7.2
7.5
8.2
4.9
1.7
15.1
8.0
2.7
4.3
2.2
12.9
7.9
3.8
4.8
2.8
12.9
7.4
5.3
ft
ft
ft
ft
ft
ft
*
688444 O - 63 - 2
ft
ft
ft
ft
ft
*
*
ft
ft
ft
ft
*
ft
ft
*
*
*
14.1
14.2
9.3
13.0
13.3
4.7
13.6
13.9
8.5
12.6
12.9
8.9
12.0
12.1
7.1
13.1
13.4
7.3
5.9
6.1
4.3
4.9'
5.2
5.3
4.7
4.5
5.3
3.8
*
3.9
4.5
4.7
*
*
4.0
ft
ft
ft
*
*
*
ft
ft
ft
*
*
*
*
*
*
ft
ft
7.8
7.4
9.6
9.8
8.9
8.5
8.7
9.6
9.0
4.3
3.0
11.3
4.9
4.0
6.2
3.4
13.2
8.3
4.7
5.7
3.2
12.8
8.1
5.3
5.3
2.7
12.3
7.3
4.3
2.9
0.9
9.8
4.7
2.1
3.4
2.3
11.7
7.6
3.5
2.5
2.3
12.1
7.0
4.2
2.9
2.3
11.3
6.1
4.7
2.9
2.4
10.8
5.5"
4.4
ft
ft
ft
*
10
Table 2. - PROFITS PER DOLLAR OF S A L E S ,
1955
Industry
All manufacturing corporations, except newspapers
Durable goods industries
Metals and metal fabricating industries
. . . .
Aircraft and parts
Electrical machinery, equipment, and supplies
Machinery, except electrical
Q1
9.9
Q2
Q3
Q4
10.6
10.2
10.3
11.3
12.4
11.2
11.4
11.7
12.5
11.1
11.7
13.6
' 15.9
14.1
16.5
11.3
12.9
*
*
12.6
14.7
9.5
11.0
9.2
10.3
8.1
10.8
9.2
10.0
*
*
*
*
7.2
13.8
13.6
14.3
7.9
15.2
15.1
15.4
8.5
13.9
14.0
13.8
7.4
15.5
15.2
16.1
9.6
12.0
12.1
9.9
9.8
4.5
14.5
10.9
5.6
10.9
5.1
19.1
13.1
5.8
10.5
6.7
18.7
12.4
7.2
6.6
7.1
14.1
13.3
6.7
8.4
8.7
9.2
9.1
Chemicals; petroleum; rubber and plastics . . .
13.4
13.6
14.2
14.8
Chemicals and allied products
Basic chemicals and related products. . . .
Drugs
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
15.0
15.3
16.4
16.2
*
*
*
*
*
*
*
13.2
13.4
8.9
13.2
13.4
9.4
13.6
13.8
9.3
15.2
15.5
8.9
5.5
5.9
6.3
5.8
4.1
4.7
5.3
4.4
*
*
*
*
*
8.6
10.1
11.1
11.0
5.4
2.9
11.6
7.6
5.0
5.1
2.3
13.1
7.7
4.6
5.2
3.3
12.2
7.4
5.4
5.6
2.7
12.2
6.1
5.0
Metalworking machinery and equipment. . . .
Other fabricated metal products
Blast furnaces, steel works, and foundries.
Nonferrous metals
Other durable goods industries
Lumber and wood products, except furniture. .
Furniture and fixtures
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries..
Other nondurable goods industries
Food and kindred products
*
*
*
*
Textile mill products
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
*
N o t available
*
*
*
*
BY I N D U S T R Y , BEFORE FEDERAL INCOME TAXES (Percent)
1956
11
1957
1958
93
Q4
Q1
Q2
Q3
94
9.4
8.5
7.6
6.4
6.8
7.7
8.6
10.6
10.4
9.0
8.0
6.5
7.1
7.6
9.4
10.2
11.1
10.6
8.8
8.0
6.8
6.9
6.7
9.4
6.6
9.6
11.1
10.0
7.2
8.3
6.7
5.1
2.6
9.5
6.7
11.3
13.3
11.8
7.7
9.8
7.3
5.2
0.3
12.2
6.3
6.5
6.4
6.4
6.1
5.8
5.4
5.0
4.8
4 . 9
8.1
7.2
9.3
8.9
8.0
8.0
6.6
6.8
7.9
9.0
10.7
10.4
10.8
11.1
9.5
7.4
6.7
8.0
8.2
8.1
13.1
13.2
11.1
12.7
12.5
9.9
6.9
5.5
5.0
3.5
3.8
8.3
7.8
7.0
7.5
8.0
8.2
5.0
5.1
6.4
7.3
6.5
16.1
15.6
10.2
14.4
14.4
13.5
11.5
10.2
8.9
14.5
7.7
14.5
14.5
14.2
12.1
11.0
8.2
14.8
8.2
9.8
10.0
14.0
18.9
18.1
14.2
14.2
14.4
11.9
10.1
8.4
8.1
6.9
7.9
9.7
9.4
10.9
10.6
9.6
7.9
9.4
9.6
7.8
4.8
7.8
11.0
9.4
6.3
Q1
Q2
10.2
Q3
Q4
Q1
10.3
9.0
9.3
9.7
11.2
11.1
9.1
10.1
11.5
11.2
8.7
11.5
9.8
13.3
10.9
7.3
7.6
8 . 5
10.9
11.5
*
*
8.1
, 92
•
9.3
12.7
7.8
8.1
6.6
4.2
2.6
5.1
5.3
3.8
1.8
3.5
8.0
6.4
6.8
7.8
6.4
5.2
5.8
6.1
5.1
2.3
3.3
5.5
6.2
14.4
17.4
16.2
14.9
13.3
15.5
14.9
12.1
6.7
13.0
15.9
12.8
10.2
12.0
12.8
13.1
10.9
12.1
11.7
11.5
8.7
10.3
12.7
13.1
5.8
6.5
7.4
7.0
5.0
5.0
6.4
4.1
3.8
5.0
9.0
6.8
9.2
9.3
8.9
8.4
8.7
8;2
8.1
7.2
6.4
6.6
7.9
7.8
14.3
14.3
13.7
13.3
13.9
12.7
12.0
11.4
9.7
9.5
11.7
12.0
16.2
15.2
14.5
14.3
15.0
14.6
14.7
13.3
12.0
12.1
13.3
13.5
19.3
17.3
17.9
18.7
18.2
17.2
15.6
12.6
12.6
13.4
15.4
19.0
21.1
19.0
20.6
19.1
23.3
20.4
21.0
18.2
21.3
19.2
13.9
14.8
14.2
13.6
14.1
12.0
10.7
10.8
7.8
11.1
12.0
14.1
15.1
14.4
13.9
14.4
12.2
10.8
11.0
9.1
9.3
7.9
11.3
12.1
9.1
9.2
8.4
8.9
9.0
8.6
8.1
7.1
4.8
6.8
8.8
7.8
6.2
6.3
6.3
5.6
5.4
5.5
5.8
4.7
4.4
4.9
5.6
5.3
4 . 8
5.3
5.4
4.4
4.2
4 . 4
5.1
4.2
3.9
4.4
4.9
4.7
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
7.7
8 . 3
6.6
6.0
7.1
7.8
5.8
5.3
6.6
10.5
10.8
10.6
9.6
10.4
11.7
11.1
10.7
11.0
7.1
9.7
11.4
11.6
6.0
4.8
5.1
5.2
4.6
4 . 3
4 . 3
3.3
1.9
2.7
4.2
4.4
3.2
2 . 4
4 . 3
3.3
2.6
2.6
3.5
1.8
1.9
1.4
3.3
2.3
12.5
12.7
11.6
11.2
10.9
9.9
9.6
8.7
8.6
9.2
9.2
10.0
9 . 3
8.9
7.8
6.1
7.7
8 . 5
7.9
5.1
6.1
6.6
7.9
4 . 9
5.3
4 . 1
3.9
3.9
4.0
4 . 3
4 . 4
4.7
3.3
3.0
4.6
4.2
6.3
Table 2. - PROFITS PER DOLLAR OF S A L E S ,
12
1959
Industry
Q2
Q3
Q4
All manufacturing corporations, except newspapers
Q1
8.9
10.2
8.2
7.9
Durable goods industries
9.7
11.7
7.7
7.9
. . . .
10.0
11.8
6.8
7.7
Aircraft and parts
Electrical machinery, equipment, and supplies
11.5
15.2
3.8
8.2
7.9
12.0
16.1
3.5
9.1
11.5
5.9
7.7
2.7
8.9
10.6
6.7
8.9
3.2
9.2
8.5
5.3
5.6
13.3
14.4
10.7
8.3
7.6
15.5
16.8
12.0
7.1
8.0
-0.3
-7.6
8.8
5.2
4.6
8.6
9.3
7.3
8.3
11.2
11.8
8.8
5.6
4.3
11.7
11.9
5.9
8.5
5.5
17.7
12.6
5.9
8.7
6.5
16.5
14.5
9.2
5.3
4.7
11.8
13.0
7.6
8.0
8.6
8.6
7.8
Chemicals; petroleum; rubber and plastics . . .
12.1
12.6
12.3
11.4
Chemicals and allied products
Basic chemicals and related products. . . .
14.6
17.1
20.7
10.9
11.1
8.1
15.9
19.2
18.6
10.5
10.5
8.7
15.5
17.4
22.5
10.6
10.6
7.7
13.2
16.1
17.0
11.1
11.3
6.8
5.4
6.1
6.3
5.7
4.5
4.9
*
*
5.3
4.9
*
*
5.3
10.9
4.9
3.1
9.7
7.0
4.1
Metals and metal fabricating industries
Metalworking machinery and equipment. . . .
Blast furnaces, steel works, and foundries.
Lumber and wood products, except furniture. .
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
Other nondurable goods industries .
Food and kindred products
Textile mill products
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
Leather and leather products
*
Not available
*
*
*
*
7.3
11.5
8.0
11.8
6.5
10.7
5.8
2.9
11.0
8.0
4.9
5.7
3.3
10.2
9.4
4.6
6.2
2.6
9.8
6.1
4.6
BY I N D U S T R Y , BEFORE FEDERAL INCOME TAXES (Percent)
1960
13
1961
1962
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
8.7
8.4
7.6
7.1
6.5
8.0
7.7
8.5
8.0
8.6
7.9
8.2
9.4
8.9
7.0
6.8
5.8
8.4
7.5
9.2
8.5
9.4
7.9
8.5
9,8
8.8
6.4
6.8
6.0
8.4
7.0
9.3
9.0
9.5
7.5
8.6
10.7
9.5
5.0
8.5
6.3
9.1
5.4
11.0
10.9
11.7
7.6
11.5
14.1
13.5
6.4
12.0
8.1
12.1
6.7
15.1
14.6
15.4
9.7
15.0
3.1
1.1
2.8
3.2
3.2
3.7
3.8
4.1
4.3
4.5
4.3
4.8
7.9
7.5
7.1
6.2
6.1
6.5
6.7
8.6
7.5
7.8
7.4
7.6
8.5
9.2
7.6
6.4
6.9
9.2
8.6
8.7
8.6
9.9
9.3
8.3
6.9
6.3
5.6
5.9
5.5
6.3
6.7
8.4
8.3
8.1
7.0
7.7
5.2
5.9
5.9
3.4
3.5
6.2
6.4
5.3
5.6
7.3
6.8
5.3
13.1
10.4
7.0
7.0
6.5
10.0
8.5
10.1
9.8
8.4
5.9
6.9
14.4
10.6
6.1
7.5
5.9
10.3
9.0
10.6
10.0
7.7
5.2
6.1
10.0
10.0
8.5
6.2
7.7
9.4
7.5
9.1
9.5
9.9
7.3
8.3
7.7
9.2
9.3
7.2
4.6
8 . 3
9.3
8.7
6.0
8.9
9.4
7.7
3.9
4.9
3.8
0.9
0.9
4.7
4.8
3.0
1.9
5.2
'5.4
3.3
4 . 4
4.2
5.1
4.2
1.4
3.3
4.5
5.8
3.7
4.6
6.0
5.2
10.8
14.6
13.6
10.1
6.0
12.7
13.0
11.2
6.8
12.8
12.3
9.0
12.0
12.3
12.2
10.6
8.3
10.4
12.1
12.2
10.4
11.9
12.1
12.4
5.7
6.5
8.8
7.8
5.3
6.2
8.8
9.0
6.1
6.3
8.6
7.5
8 . 0
7.9
8.2
7.4
7.1
7.6
7.9
7.9
7.5
7.8
8.0
7.9
11.7
11.4
11.9
11.4
11.3
11.8
11.8
12.1
11.5
11.4
11.5
12.0
14.5
14.4
14.0
12.3
12.3
14.2
14.1
13.8
13.6
14.4
14.1
13.4
16.5
16.7
14.1
12.8
13.3
15.6
14.3
15.2
15.1
16.4
14.9
15.3
20.9
17.1
21.2
17.2
18.4
17.9
21.1
18.9
19.6
17.9
20.8
17.9
10.4
9.7
11.6
12.1
11.8
10.5
10.8
11.8
10.9
9.7
10.6
12.4
10.6
9.8
11.7
12.3
12.1
10.5
10.9
11.9
11.0
9.8
10.6
12.5
7.6
7.5
6.2
6.0
5.8
8.1
7.3
7.6
7.1
7.8
6.2
6.3
5.6
5.7
5.9
5.1
4.5
5.1
5.7
5.5
4.9
•5.5
5.8
5.4
4 . 4
4.8
5.2
*
*
4 . 5
4.1
4.7
*
5.1
4.7
4.0
*
4.6
5.3
*
*
4.6
*
*
*
*
*
*
4.1
*
4.0
*
3.5
4.8
4 , 3
4.8
3.4
4.9
4.6
5.0
4.7
6.8
7.4
6.6
4.9
6.7
7.9
6.7
4.6
6.8
8.3
6.6
10.9
11.3
11.5
11.2
11.2
11.9
12.3
12.1
11.3
11.6
12.2
12.3
5.3
5.8
5.2
5.0
4 . 4
3.3
4 . 0
4 . 8
5.2
4.7
5.1
4.9
2 . 4
2.6
4.0
2.3
1.3
1.9
3.6
3.5
2.8
2.9
3.5
3.3
9.7
10.7
9.3
8.9
8.3
9.4
8.5
9.5
8.8
9.7
8.6
8.4
7.6
7.1
7.8
6.1
5.3
5.1
7.8
5.5
5.6
6.6
7.7
6.2
4 . 5
3.7
2.4
2.9
2.5
1.7
2.6
3.5
3.6
3.4
3.5
4.4
14
Table 2 . - PROFITS PER DOLLAR OF S A L E S ,
1947
Industry
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
. . . .
Electrical machinery, equipment, and supplies
Ql
7.5
Q2
Q3
Q4
6.8
6.5
6.2
7.6
6.9
6.4
6.2
7.4
6.6
6.0
5:9
5.4
6.4
4.9
6.1
3.7
5.6
*
ft
4.6
5.9
6.8
7.9
6.2
7.7
6.0
6.8
6.3
6.5
ft
ft
ft
*
ft
ft
8.7
8.7
8.2
9.7
8.5
7.4
7.0
6.2
8.9
6.9
6.3
6.1
6.8
6.8
7.1
6.1
9.7
8.3
7.9
7.4
12.1
6.7
8.2
8.2
6.9
11.4
6.8
8.5
7.5
6.5
10.5
6.0
7.5
7.4
7.3
11.8
4.6
7.5
7.7
4.4
7.5
6.7
6.6
6.3
Chemicals; petroleum; rubber and plastics . . .
9.7
8.9
9.1
9.1
Chemicals and allied products
Basic chemicals and related products. . . .
10.4
8.7
8.2
7.8
*
*
*
*
*
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
10.1
10.8
11.4
*
*
*
ft
6.3
3.0
3.3
5.2
6.5
5.6
5.4
4.9
4.7
4.1
4.3
3.7
*
*
*
Metalworking machinery and equipment. . . .
Primary metal industries
Blast furnaces, steel works, and foundries.
Other durable goods industries
Lumber and wood products, except furniture. .
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Other nondurable goods industries
Textile mill products
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
*
N o t available
ft
ft
ft
ft
ft
11.3
*
ft
ft
ft
3.7
4.2
4.4
8.2
4.3
11.2
6.8
4.2
7.2
4.8
10.3
6.7
3.9
7.9
4.1
9.3
3.1
3.3
ft
ft
ft
4.1
9.5
5.2
12.0
7.~8
5.9
BY INDUSTRY, AFTER TAXES (Cents)
15
ros
i m
Q1
Q2
Q3
Q4
7.2
7.0
6.9
6.8
7.1
7.0
7.0
6.9
6.8
6.8
5.8
5.9
6.4
6.4
i m
Q1
Q2
Q3
Q4
6.1
5.2
6.0
7.4
6.8
5.6
7.4
6.9
6.2
6.9
7.3
7.4
Q1
Q2
Q3
Q4
6.0
6.2
7.4
7.6'
6.9'
6.5
6.6
7.0
8.6
8.3
7.0
5.7
6.5
6.6
7.2
8.6
8.0
6.8
6.5
6.2
8.0
7.4
7.9
9.6
8.2
5.2
7.1
7.1
8.4
10.5
8.8
5.3
*
*
*
*
*
*
*.
9.0
*
*
8.9
•k
*
*
6.1
6.0
5.5
6.0
5.1
4 . 5
4.8
7.9
6.7
7.0
7.5
7.5
7.7
7.4
6.9
7.2
7.1
6.4
6.2
5.7
6.4
7.7
7.6
7.3
*
*
it
*
*
*
*
*
*
*
*
*
7.3
7.1
7.0
7.0
5.8
3.8
5.7
5.1
5.9
7.1
7.3
6.7
7.6
7.3
7.8
9.1
8.3
5.6
5.7
6.4
7.7
9.4
8.8
8.1
6.9
6.7
7.7
8.7
7.9
6.2
5.8
5.7
7.5
9.0
8.2
6.9
9.4
8.4
8.1
10.0
9.5
3.9
5.6
7.7
8.5
10.5
10.2
11.1
7.9
8.0
8.1
6.9
6.2
5.6
6.3
6.4
6.3
8.8
9.5
8.0
12.3
10.3
9.5
7.2
6.4
5.8
5.2
6.4
7.1
9.7
11.1
9.2
6.8
6.0
4.8
4.4
3.7
2.7
3.1
3.5
3.2
5.4
5.3
6.0
6.6
9.3
9.6
8.7
7.2
8.6
9.7
8.7
8.6
11.7
11.6
8 . 3
7.6
7.7
7.6
8.2
7.2
6.9
6.7
7.4
7.7
8.9
9.4
8.4
5.6
4.9
6.8
5.0
5.2
1.1
3.9
4.1
2.9
4.5
7.0
7.0
7.2
7.0
6.8
6.3
5.6
4 . 9
5.6
5.5
5.5
6.2
7.1
6.8
11.0
10.5
10.2
10.1
8.8
7.5
8.4
8.7
8.4
10.0
10.4
10.7
9.4
7.9
9.2
8.7
8.1
6.5
9.1
9.2
9.6
*
*
*
*
10.6
11.7
9.2
*
*
*
*
*
*
*
*
*
*
*
*
*
9.2
9.1
9.0
8.2
13.5
13.6
12.2
12.2
10.3
*
*
*
*
*
10.7
it
10.5
it
it
13.0
*
*
*
*
*
it
*
*
*
*
*
4 . 3
5.1
4 . 5
4 . 9
3.7
3.1
2.9
5.5
4.2
5.0
6.6
6.6
5.1
5.1
5.0
4.2
3.8
3.5
4.1
3.8
4 . 0
4.2
5.2
4.5
2 . 9
3.4
2.7
3.4
4 . 0
3.2
2.8
*
3.4
4.2
*
3.7
it
3.3
*
*
*
3.0
it
*
*
*
it
*
it
*
*
*
*
J*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
4 . 0
4.2
6.1
6.1
4.8
5.0
5.3
5.2
4.6
5.0
5.4
4.4
*
9.2
9.0
7.7
6.9
5.3
2.7
3.5
4.7
5.4
5.2
6.5
6.1
4 . 5
2.8
3.6
1.3
2.9
1.6
2 . 5
1.4
1.9
1.6
3.9
3.1
9.8
8.9
7.8
7.4
7.0
5.5
5.7
7.7
7.5
8.4
9.0
9.7
5.6
5.7
6.1
3.4
5.7
4.6
5.4
2.3
5.4
3.8
5.6
3.5
3.5
3.4
3.7
2.5
2.2
1.4
2 . 5
2.7
2.5
2.7
4.3
4.7
.
Table 2 . - PROFITS PER DOLLAR OF S A L E S ,
16
fI n dju s t .r
y
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
. . . .
Aircraft and parts
Electrical machinery, equipment, and supplies
Metalworking machinery and equipment. . . .
01
5.6
1951
02
03
4.2
5.2
Q4
4.4
6.1
5.7
4.4
4.7
6.0
5.7
4.3
4.9
4.8
5.1
4.9
5.3
3.6
3.8
4.1
4.5
*
*
*
4.8
6.1
3.5
4.8
5.1
4.6
*
5.7
6.5
*
*
*
*
6.2
7.1
6.5
8.4
5.2
7.0
6.5
8.1
4.4
5.1
4.5
6.6
4.1
6.2
5.6
7.8
6.4
5.8
4.8
4.1
6.8
4.7
8.1
7.1
4.9
6.1
3.6
8.1
6.6
3.6
4.9
3.1
6.8
5.1
3.0
3.9
2.2
5.5
5.5
3.0
5.1
4.8
4.0
4.0
Chemicals; petroleum; rubber and plastics . . .
8.7
8.4
7.7
8.4
Chemicals and allied products
Basic chemicals and related products. . . .
Drugs
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
7.9
6.6
5.2
6.0
*
*
*
*
*
*
*
*
10.2
10.4
5.6
11.0
11.3
4.6
10.6
11.0
3.8
11.4
11.7
4.1
3.3
3.0
2.3
2.0
2.2
2.1
2.0
1.6
*
*
*
*
*
*
*
Blast furnaces, steel works, and foundries.
Lumber and wood products, except furniture. .
Furniture and fixtures
Stone, clay, and glass products
Instruments and related products
.
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Other nondurable goods industries
. . . . . . .
Food and kindred products
*
*
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
*
Not available
*
•k
*
4.2
4.0
3.5
3.6
5.1
1.3
7.8
3.5
1.1
4.2
0.5
7.5
4.5
0.8
1.6
0.4
6.1
3.7
1.3
2.3
0.4
4.7
3.0
-0.8
BY I N D U S T R Y , AFTER TAXES (Cents)
17
1952
1953
1954
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
4.2
4.2
4.3
4.4
4.3
4.4
4.3
4.0
4.3
4.7
4.4
4.7
4.6
4.5
4.4
4.6
4.4
4.4
4.1
3.9
4.3
4.9
4.4
4.8
4.8
4.5
4.3
4.7
4.5
4.3
4.1
4.0
4.5
4.9
4.2
4.7
4.1
4.5
4.3
4.9
4.0
4.6
4.1
4.7
3.5
3.9
3.3
3.7
*
3.6
4.1
4.6
5.2
5.2
5.9
4.0
4.1
4.6
5.0
4.6
5.1
*
3.7
4.1
3.9
5.1
4.1
4.6
5.1
4.4
4.6
4.8
4.3
4.9
4.0
4.2
*
*
*
*
*
4.0
4.6
4.0
3.9
*
3.9
3.5
*
4.6
4.6
*
*
*
5.0
3.7
*
*
*
*
4.3
4.6
3.5
6.8
4.1
4.5
3.9
5.7
3.6
6.1
5.8
7.0
*
*
4.1
5.6
4.9
7.3
3.6
5.7
5.2
7.1
*
4.0
5.4
5.2
6.1
3.8
5.5
5.4
5.8
*
*
3.0
5.6
5.3
6.3
2.8
5.2
4.7
6.1
3.7
5.7
5.2
6.8
3.4
5.2
4.6
6.2
2.5
6.9
6.7
7.2
3.9
4.5
4.8
4.2
4.1
5.0
4.6
3.3
3.1
4.8
-5.4
4.9
4.2
2.3
5.0
4.8
2.6
4.3
2.7
7.2
4.8
2.5
4.6
2.7
7.4
4.8
2.9
3.3
2.9
6.4
5.0
2.7
3.5
3.3
5.4
4.8
3.1
4.6
3.2
8.0
4.7
3.2
3.7
2.4
7.3
4.5
3.3
2.1
1.4
5.2
4.6
2.0
1.4
1.2
5.1
4.8
2.0
3.5
1.9
8.5
5.1
2.6
3.7
2.3
8.7
6.1
3.4
4.5
2.9
7.0
6.0
3.2
3.9
4.0
4.2
4.2
4.2
4.4
4.5
4.1
4.3
4.4
4.4
4.7
7.6
7.5
7.4
7.9
7.4
7.7
7.8
8.3
8.0
8.0
7.8
9.1
6.2
6.0
6.1
6.2
6.3
6.3
6.0
5.7
6.6
6.8
6.7
7.3
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
9.7
10.0
3.2
9.9
10.2
3.5
9.4
9.6
3.7
10.2
10.5
4.2
9.3
9.6
3.8
9.9
10.2
3.9
10.1
10.3
3.9
*
*
*
*
*
*
*
11.3
11.6
3.6
10.0
10.3
4.0
9.9
10.2
•4.1
9.8
10.0
3.7
*
11.5
11.8
4.3
2.0
2.2
2.6
2.3
2.5
2.6
2.8
2.0
2.2
2.4
2.5
2.4
1.5
1.9
2.3
1.8
1.8
2.1
2.5
1.8
1.7
2.2
2.3
2.0
*
*
*
*
*
*
*
*
*
*
•k
*
*
*
*
*
*
•k
*
*
*
*
*
*
*
*
3.0
3.0
*
*
*
3.4
3.5
3.2
*
*
*
3.7
3.9
3.7
4.0
4.1
4.5
4.3
1.8
0.4
6.0
4.0
0.8
1.5
0.8
5.4
3.8
1.8
2.1
1.3
5.7
3.5
2.5
2.1
1.6
5.6
2.1
1.9
2.7
1.7
5.7
4.2
2.0
2.5
1.6
5.4
3.9
2.5
2.4
1.1
5.4
3.3
1.9
1.1
0.2
4.9
2.3
1.0
1.1
0.9
5.6
3.9
1.4
0.6
0.9
5.9
3.8
1.8
1.0
1.1
5.5
3.0
2.4
1.1
1.2
5.6
2.9
2.1
688444 O - 63 - 3
*
•k
*
*
*
*
*
18
Table 2 . - PROFITS PER DOLLAR OF S A L E S ,
1955
Industry
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
. . . .
Electrical machinery, equipment, and supplies
Metalworking machinery and equipment. . . .
Blast furnaces, steel works, and foundries.
Limber and wood products, except furniture. .
Furniture and fixtures
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Chemicals; petroleum; rubber and plastics . . .
Basic chemicals and related products. . . .
Petroleum refining and related industries . .
Rubber and miscellaneous plastics products. .
Other nondurable goods industries
Textile mill products . . . . . . . . . . . .
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
*
Not available
Q1
Q2
Q3
Q4
5.1
5.5
5.4
5.6
5.4
6.1
5.5
5.8
5.6
6.0
5.3
5.9
6.2
7.1
6.6
7.7
5.1
5.8
6.0
7.0
*
*
*
*
4.4
4.7
4.5
5.3
4.3
4.9
4.3
5.3
*
*
*
*
3.5
7.1
6.6
8.0
3.8
7.7
7.3
8.6
4.3
7.1
6.9
7.6
3.7
8.3
7.9
8.9
4.6
6.2
6.3
5.1
5.4
1.8
7.1
4.9
2.3
6.3
2.4
10.1
6.4
2.6
6.2
3.5
9.7
5.8
3.6
3.8
3.5
7.2
6.6
3.6
4.8
5.0
5.3
5.5
8.4
8.6
9.0
10.0
7.6
8.0
8.7
8.8
*
*
*
*
10.0
10.2
4.1
10.2
10.5
4.4
10.5
10.7
4.5
12.3
12.7
4.7
2.7
2.9
3.2
2.9
1.9
2.3
2.7
2.2
*
*
*
*
*
*
*
*
*
*
•k
*
*
*
*
4.1
4.8
5.3
5.0
2.6
1.3
5.7
4.0
2.4
2.4
0.9
6.5
3.9
2.1
2.5
1.6
6.1
3.8
2.8
2.8
1.5
6.2
2.9
2.4
*
BY I N D U S T R Y , AFTER TAXES (Cents)
i m
T537
Ql
Q2
Q3
Q4
5.3
5.5
4.9
5.5
5.6
5.6
B5F
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
5.2
5.1
5.0
4.7
4.4
3.4
3.8
4.4
4.9
4.6
5.2
5.2
5.2
4 . 6
4.2
3.1
3.6
3.9
4.9
5.5
4.4
5.2
5.5
5.2
4 . 5
4.2
3.3
3.5
3.4
4.9
5.3
4.6
3.3
4.8
5.3
4.8
3.6
4.4
3.3
2.7
1.7
5.2
6.0
5.0
3.3
5.8
6.3
5.7
4.0
5.4
3.7
2.9
1.0
6.8
*
3.5
3.0
3.0
3.0
3.0
2.9
2.8
2.6
2 . 3
2.4
2.5
3.6
4 . 0
3.9
3.5
4 . 5
4 . 3
4.0
4.0
3.2
3.5
3.9
4.7
5.2
5.8
5.3
5.2
5.3
5.5
4.7
3.7
3.0
3.9
3.9
3.7
0.8
*
6.4
6.6
5.3
6.3
6.1
4.9
3.2
1.8
2.1
0.4
4.2
4.2
4.0
3.5
3.7
4.1
4.2
2.3
2 . 3
3.2
3.6
3.2
8 . 3
8.1
5.6
7.8
7.4
6.9
6.1
5.7
4 . 3
4.6
4.8
6.7
7.3
7.2
4.1
7.5
7.1
7.0
6.1
5.8
4.2
4.9
5.0
7.1
10.2
9.8
8.1
8.7
8.1
6.6
6.0
5.5
4.7
3.8
4.4
5.8
4 . 8
5.7
5.6
5.1
3.8
4.8
5.0
4 . 3
1.8
3.9
6.0
5.1
4 . 4
4.7
3.8
2.5
1.0
2.9
3.1
2.1
0.1
1.6
5.0
3.8
3.1
3.3
4.0
3.1
2.3
2.8
3.1
2.4
0.7
1.2
2.8
3.2
7.3
9.1
8.6
7.8
6.6
8.1
7.8
7.4
2.7
7.2
8.8
7.3
4 . 5
5.8
6.1
6.6
5.3
5.8
5.7
6.0
3.8
5.0
6.3
6.3
3.2
3.4
4.1
3.8
2.4
2.4
3.2
1.9
1.5
2.2
4.8
3.3
5.2
5.4
5.2
5.3
5.1
4 . 9
4.8
4.7
3.7
4.0
4.7
4.9
8 . 9
9.4
8.9
9.5
8.9
8.4
8.1
8.7
6.7
6.9
7.9
8.7
7.6
8 . 5
*
*
8.1
7.6
7.9
7.8
7.9
7.6
7.3
6.4
6.7
7.1
10.5
9.4
10.2
10.0
9.8
9.3
8.9
7.1
7.0
7.4
9.1
9.5
10.6
9.9
9.8
10.0
11.5
10.4
10.5
9.4
10.8
10.2
10.3
11.7
11.1
11.9
10.7
9.9
9.5
10.9
8.0
8.1
9.7
11.0
10.6
12.0
11.4
12.3
11.0
10.2
9.8
11.3
8.2
'8.2
9.9
11.3
4 . 3
4.6
4.1
4.7
4.4
4 . 3
4 . 0
4 . 1
2.2
3.3
4.4
3.9
3.0
3.1
3.1
2.8
2.6
2.7
2.9
2 . 3
2.0
2.4
2.9
2.7
2.2
2.6
2.7
2.2
2.0
2.2
*
2.6
2.1
*
*
*
*
*
*
2.5
2.4
*
*
1.8
2.2
*
*
*
*
*
*
*
*
*
*
*
*
*
*
•
*
*
3.7
3.7
3.1
2.9
3.4
3.9
2.8
2 . 3
3.1
3.6
3.3
4 . 5
5.0
5.3
5.1
4.7
4 . 9
5.5
5.4
5.1
5.2
5.5
5.6
2 . 8
2.2
2.6
2.8
2.0
2 . 0
2.2
1.5
0.3
1.2
2.3
2.4
1.4
1.0
2.1
1.9
1.4
1.2
1.8
0.6
0.7
0.3
1.7
1.0
6 . 4
6.4
5.9
5.9
5.7
4 . 9
4 . 9
4 . 5
4 . 3
4 . 8
4.6
5.3
5.4
5.0
3.7
3.0
4 . 0
4 . 8
3.8
2 . 5
2.9
3.4
4.1
2 . 3
2 . 8
1.9
1.8
1.8
1.8
1.9
2 . 0
2.4
1.3
1.0
2.4
1.9
Table 2 . - PROFITS P E R DOLLAR OF S A L E S ,
20
1959
Industry
Q1
4.7
Q2
Q3
Q4
5.5
4.6
4.5
4.8
5.9
4.1
4.2
4.9
5.9
3.5
4.1
5.6
7.4
1.8
4.0
3.8
5.9
7.8
1.7
4.5
5.8
3.1
4.2
1.3
4.4
5.3
3.6
5.0
1.5
4.8
4.3
1.9
2.6
6.8
7.1
6.0
4.2
3.8
7.8
8.1
7.0
3.5
4.1
0.5
-3.1
5.1
2.0
2.3
4.9
4.8
5.0
4.1
5.9
6.4
4.7
3.0
2.0
5.7
5.7
2.9
4.7
2.8
9.8
6.0
2.6
5.4
3.4
9.1
7.3
4.6
3.2
2.4
6.4
6.8
3.7
4.7
5.1
5.1
4.8
7.9
8.2
8.1
7.8
7.7
9.1
10.5
9.1
9.3
3.9
8.5
10.2
10.1
9.3
9.4
4.4
8.1
9.2
11.6
9.4
9.5
4.1
7.2
9.1
8.9
9.7
9.9
3.7
2.7
3.1
3.2
2.9
Food and kindred products
Dairy products. .
Bakery products
Alcoholic beverages
Tobacco manufactures
2.1
2.5
2.7
2.5
*
*
*
*
*
*
*
*
2.4
5.2
3.8
5.5
4.2
5.6
3.1
5.2
Textile mill products
Apparel and other fabricated textile products
Paper and allied products
Printing and publishing, except newspapers. .
Leather and leather products
2.5
1.6
5.0
3.6
1.9
3.2
1.4
5.5
4.2
2.4
3.0
1.8
5.2
5.1
2.2
3.3
1.4
5.2
2.9
2.4
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
. . . .
Transportation equipment
Electrical machinery, equipment, and supplies
Metalworking machinery and equipment. . . .
Other fabricated metal products
Primary metal industries
Blast furnaces, steel works, and foundries.
Lumber and wood products, except furniture. .
Furniture and fixtures
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Chemicals; petroleum; rubber and plastics . . .
Chemicals and allied products
Basic chemicals and related products.
...
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
Other nondurable goods industries
*
Not available
BY I N D U S T R Y , AFTER TAXES (Cents)
21
I960
1961
1962
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
02
03
04
4.7
4.6
4.3
4.0
3.5
4.4
4.3
4.8
4.3
4.7
4.4
4.8
4.6
4.6
3.6
3.4
2.7
4.2
3.8
4.7
4.2
4.8
4.0
4.5
4.8
4.5
3.3
3.3
2.9
4.2
3.6
4.7
4.5
4.8
3.8
4.6
5.2
6.9
1.4
3.9
4.1
4.9
6.6
1.4
3.6
4.5
2.6
3.5
1.3
3.5
3.6
4.0
5.8
1.6
3.2
3.0
3.1
4.1
1.4
2.9
3.2
4.4
5.8
1.9
3.2
4.6
2.9
3.8
2.0
3.3
4.2
5.4
7.5
2.0
4.3
4.4
5.4
7.1
2.3
3.5
4.3
5.6
7.4
2.3
3.8
5.1
3.8
4.9
2.2
3.7
4.6
6.1
7.8
2.6
4.0
4.1
3.1
2.4
6.7
7.0
5.9
2.7
2.9
5.6
5.3
6.0
2.5
3.0
3.9
3.2
5.2
2.8
1.3
4.1
3.9
4.3
2.6
1.2
3.5
2.7
4.8
2.8
3.0
5.3
5.0
5.9
3.3
3.1
4.7
4.6
4.8
4.2
2.4
5.7
5.7
5.8
4.2
2.7
5.2
4.9
5.8
4.6
3.8
4.7
4.0
6.2
3.5
3.3
3.3
2.6
4.5
3.5
4.9
4.8
3.7
1.8
4.3
4.9
4.6
2.6
4.7
•5.1
4.2
2.7
4.3
3.8
5.4
4.1
1.7
1.9
5.0
6.0
2.4
2.7
1.9
8.2
6.2
3.1
2.1
2.6
7.4
6.2
4.1
0.1
2.1
5.4
5.3
4.1
-0.3
-0.4
2.4
4.0
2.5
2.9
1.3
6.8
5.3
2.8
3.0
2.1
7.0
6.0
4.2
1.7
2.9
6.2
6.2
4.7
0.7
1.5
2.8
5.1
2.7
3.2
2.1
6.9
6.1
2.8
3.4
3.2
6.8
6.0
4.4
2.1
2.6
5.0
6.3
3.8
4.7
4.7
4.9
4.7
4.2
4.6
4.8
5.0
4.4
4.6
4.8
5.0
7.8
7.7
8.1
8.3
7.8
8.2
8.0
8.7
7.8
7.6
7.8
8.6
7.6
8.9
10.4
9.2
9.4
3.8
7.8
9.1
9.1
8.7
8.9
3.9
7.4
7.9
10.9
10.0
10.2
3.3
6.9
7.7
9.2
10.8
11.0
3.2
6.5
7.4
9.4
10.1
10.4
2.9
7.8
8.5
9.0
9.7
9.9
4.2
7.4
7.7
11.0
9.7
9.8
3.8
7.6
8.9
9.8
11.0
11.1
4.2
7.2
8.2
9.9
9.4
9.5
3.7
7.6
8.8
9.1
8.6
8.8
4.1
7.3
7.9
10.5
9.4
9.5
3.4
7.5
8.9
9.8
10.8
11.0
3.7
2.7
2.8
3.0
2.6
2.1
2.5
2.9
2.8
2.3
2.7
3.0
2.9
2.1
2.4
2.6
2.2
1.9
2.4
*
2.6
2.3
1.9
*
*
*
*
*
*
*
*
*
2.7
2.0
2.2
4.2
5.8
2.3
1.9
2.9
3.4
6.1
2.4
1.9
4.5
3.9
1.6
2.8
1.9
4.6
3.4
2.4
*
*
*
*
2.2
5.2
3.5
5.4
3.8
5.5
3.0
5.8
2.2
5.3
2.3
3.2
5.7
2.0
4.1
5.9
2.1
3.2
5.9
1.6
2.0
5.4
2.3
2.1
2.4
3.3
5.5
2.8
1.0
4.9
4.0
2.7
2.5
1.3
5.4
3.6
1.6
2.5
2.0
4.8
3.9
0.9
2.1
1.1
4.8
2.9
1.4
1.2
0.4
4.1
2.6
0.9
1.8
0.5
4.8
2.3
0.7
2.5
1.8
4.3
3.7
1.2
2.7
2.1
5.2
2.7
1.6
2.2
1.3
4.4
2.6
1.6
2.5
1.4
4.9
3.6
1.4
Table 4. - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
22
1
EQUITY 9
1947
Industry
Ql
92
93
Q4
All manufacturing corporations, except newspapers
27.9
25.3
23.9
24.9
Durable goods industries. •
26.4
25.0
22.3
24.1
. . . .
26.0
24.3
21.4
23.7
Transportation equipment
Motor vehicles and equipment
Aircraft and parts
Electrical machinery, equipment, and supplies
Machinery, except electrical.
...
21.7
20.8
19.3
22.1
29.3
28.5
27.2
31.9
Metals and metal fabricating industries
Metalworking machinery and equipment. . . .
Other fabricated metal products . . . • • • •
Primary metal industries
Blast furnaces, steel works, and foundries.
Nonferrous metals . . . .
Other durable goods industries. , .
Lumber and wood products, except furniture. .
Furniture and fixtures
Stone, clay, and glass products
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Chemicals; petroleum; rubber and plastics . . .
Chemicals and allied products • • • . . . • »
Basic chemicals and related products. . . .
Drugs . . . • • • • . . • . . • • • . . . •
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
Other nondurable goods industries
Food and kindred products
Dairy products
Bakery products
Alcoholic beverages . .
Tobacco manufactures
Textile mill products
Apparel and other fabricated textile products
Paper and allied products
* . .
Printing and publishing, except newspapers. •
Leather and leather products.
*
N o t available
*
*
*
*
32.3
32.0
27.8
33.3
27.7
29.3
24.0
24.8
*
*
*
*
32.0
28.6
27.5
28.1
24.0
19.6
17.0
19.6
23.7
18.5
17.9
19.1
24.6
21.6
15.2
20.8
28.0
27.7
25.9
26.1
36.2
35.5
34.5
38.0
32.8
32.6
29.1
27.9
24.3
25.3
21.5
21.5
24.0
22.9
20.8
25.7
26.5
24.3
26.6
19.8
29.3
25.6
25.4
25.6
23.3
21.6
21.5
22.9
31.7
24.8
22.5
24.3
*
*
16.8
*
*
*
19.1
*
*
*
21.3
*
*
*
21.5
*
28.7
24.5
18.5
26.8
34.7
29.3
29.0
28.1
32.3
27.9
30.7
28.2
*
*
*
15.1
*
*
*
*
*
*
15.4
17.1
*
*
*
18.6
39.8
31.0
26.4
32.9
36.2
28.2
34.3
29.2
41.5
38.6
32.9
30.6
35.0
31.0
30.0
18.0
34.5
21.8
20.9
21.0
BY I N D U S T R Y , BEFORE FEDERAL INCOME TAXES
1948
Q2
Q3
Q4
25.2
25.1
25.0
25.3
24.9
25.6
28.4
25.3
24.6
25.4
24.7
30.9
*
24.7
29.7
28.9
28.9
*
27.0
27.9
28.1
26.2
*
23
1949
_QL
26.7
*
(Percent)
Q3
Q4
20.6 17.0
18.9
23.0
18.7
29.7
24.3
29.0
36.5
*
35.1
42.0
*
23.0
24.8
*
26.2
*
31.8
Ql
Q2
_Q2
1950
Q3_
04
18.0
-2L
19.4
24.8
20.4
18.9
21.9
30.0 35.2 41.3
19.3
21.0
19.1
22.9
30.7
35.1
42.0
28.1
33.5
*
28.9
36.0
*
37.1
46.8
*
28.2
32.2
46.2
55.2
*
49.3
58.7
*
50.8
58.6
*
22.1
23.5
*
16.3
20.3
*
17.8
17.2
*
32.8
16.1
*
29.3
18.4
31.1
24.2
*
41.1
26.7
*
62.4
33.6
*
13.9
14.5
17.7
20.2
16.6
11.3
10.4
13.1
18.5
18.7
19.9
16.2
24.9
25.4
26.9
8.1
12.7
14.5
9.1
22.2
34.0
28.3
29.0
26.7
37.8
36.4
36.4
36.4
26.8
35.5
38.2
28.5
23.5
32.3
25.9
10.1 14.6
37.9
29.0
39.1
33.3
29.6
34.2
39.2
39.5
43.0
35.8
30.2
34.0
*
39.0
*
*
31.0
35.5
28.1
23.0
23.9
21.1
28.0
28.3
21.8
20.9
20.5
21.7
24.8
19.9
24.2
25.6
21.5
25.3
26.1
26.3
22.7
17.3
15.9
18.0
17.9
17.5
39.1
32.4
18.4
19.8
21.3
32.6 30.7 19.3
29.0 23.4 22.5
14.9
27.6
21.5
23.8
16.0
14.6
12.5
21.3
19.2
5.3
12.6
26.2
22.5
18.6
14.7
15.9
18.8
20.7
13.4
24.4
19.1
13.6
16.6
15.7
20.4
20.7
28.1
25.5
24.7
22.0
18.4
15.4
17.4
17.2
17.1
20.1
27.2
30.0
25.6
23.1
19.3
15.3
16.7
17.3
17.2
21.0
27.2 32.6
27.5
*
22.7
*
24.4
25.4
*
24.4
*
22.8
*
16.7
*
22.4
*
22.9
*
25.2
*
28.3
*
36.2
*
21.2
20.9
*
*
*
30.0
25.0
26.7
19.4
*
*
*
*
16.8
20.6
20.7
14.6
*
39.9
*
*
*
*
13.9
*
12.8
*
16.7
*
20.6
*
* 26.6
*
27.6
*
24.2
*
22.5
*
17.9
*
14.9
*
14.2
*
20.0 23.5
20.9
21.6
13.5
11.8
10.8
18.3
14.9
21.4
38.0
47.7
26.3
25.3
25.0
20.9
17.5
15.6
18.2
17.1
17.0
19.1
27.3
27.7
18.6
*
22.0
*
24.2
*
20.6
*
16.6
*
20.2
*
23.1
*
18.1
*
15.6
*
20.5
*
28.6
*
23.7
*
*
*
*
*
16.1
18.0
39.3
31.7
31.4
25.9
34.1
17.5
32.9
*
28.1
26.6
20.1 17.1
*
*
*
*
28.0 25.7
26.6 23.5
23.6
24.7
25.9
19.8
9.2
22.7
18.1
13.9
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
18.4
20.7
21.9
19.8
16.3
19.1
25.2
24.5
16.8
17.6
19.6
23.3
11.6
8.4
10.1
14.0
19.6
7.4
10.7
16.1
9.5
20.7
11.8
12.3
18.2
11.8
20.8
17.3
10.4
23.3
25.8
26.3
28.9
23.9
10.9
13.0
29.6
23.6
40.3
19.2
27.9
16.0
15.0
21.1
12.7
20.6 1 6 . 8
25.2
Table 4. - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
24
Industry
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
. . . .
Transportation equipment
Q2
1
1951
Q3
Q4
Q1
32.0
29.7
24.9
25.3
37.0
35.2
28.3
30.6
37.8
36.0
29.1
33.0
39.4
45.6
39.1
43.7
30.5
34.1
34.7
37.0
*
Electrical machinery, equipment, and supplies
EQUITY 9
47.7
35.1
*
*
34.8
35.1
30.2
28.2
42.6
33.0
*
*
*
38.0
34.7
35.8
32.4
33.8
35.6
36.8
33.2
27
A
28.8
31.0
24.4
26.3
30.8
32.6
27.0
34.0
32.3
25.5
21.2
31.2
34.7
38.1
33.5
30.9
29.0
29.0
40.9
33.6
23.3
20.2
20.7
34.7
30.0
16.5
13.9
18.9
24.8
31.8
18.4
28.0
24.9
21.7
20.5
Chemicals; petroleum; rubber and plastics . . .
30.1
27.1
25.6
25.2
Chemicals and allied products
Basic chemicals and related products, . . .
Drugs
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
38.4
30.5
28.7
26.8
Metalworking machinery and equipment. .
Blast furnaces, steel works, and foundries.
Limber and wood products, except furniture. .
Instruments and related products. . . . . . .
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Other nondurable goods industries
Food and kindred products .
Dairy products
Alcoholic beverages
Tobacco manufactures
.
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
*
N o t available
*
*
*
*
*
*
*
*
it
23.3
23.3
43.2
23.3
23.1
41.2
23.0
22.9
30.8
22.9
22.9
36.5
26.0
22.8
18.2
16.1
19.7
17.4
18.1
16.1
*
*
*
*
*
*
*
*
*
*
*
*
20.3
20.4
22.4
23.8
33.9
16.6
42.8
19.8
17.1
26.5
8.3
41.7
24.3
13.5
12.0
7.6
31.5
21.6
13.6
11.9
5.7
26.6
21.6
0.0
BY I N D U S T R Y , BEFORE FEDERAL INCOME TAXES
1952
Q3
Q4
22.0
20.7
28.2
26.5
30.5
35.1
37.3
*
*
Q2
Q3
Q4
22.2
26.4
23.3
22.5
26.8
30.3
33.3
27.7
22.2
28.5
32.6
43.4
46.5
27.0
26.2
39.2
40.4
33.4
32.7
31.0
24.2
*
*
*
*
41.4
23.5
*
Q2
Q3
Q4
15.8
Q1
18.5
19.8
17.5
18.3
26.9
16.5
20.5
23.1
18.9
20.2
35.1
27.7
17.2
22.0
24.1
18.3
20.2
45.5
48.3
48.9
50.1
36.1
36.6
23.0
19.8
32.7
32.8
36.7
36.5
23.1
20.3
30.0
29.5
40.9
27.8
39.2
30.4
*
*
*
31.3
22.5
*
*
22.9
13.8
*
28.2
20.4
*
25.8
21.7
it
21.4
16.8
*
24.4
13.9
*
*
*
*
*
25.1
30.7
32.6
26.7
14.4
14.1
13.8
14.6
14.4
15.6
15.4
15.9
17.7
17.8
17.2
19.0
18.0
14.7
13.6
16.8
12.8
18.4
18.0
19.2
21.2
26.1
23.4
13.7
13.9
19.3
21.5
20.1
12.0
21.7
22.8
30.0
17.2
12.6
23.7
24.7
30.5
17.4
17.3
23.2
33.4
32.3
20.3
13.3
17.0
31.5
29.1
20.1
7.4
11.6
14.6
22.6
13.7
6.0
10.0
16.4
24.2
12.4
12.1 •12.0
11.8 14.5
27.1 29.6
23.7 25.9
13.8 17.1
16.0
17.7
21.3
27.4
18.0
19.1
17.8
19.8
19.9
19.9
15.1
16.6
16.6
16.2
16.4
20.0
20.4
19.9
22.2
21.9
21.2
17.2
19.1
18.2
17.0
18.3
24.2
24.2
23.8
27.9
26.9
24.9
18.1
22.1
22.4
22.0
21.9
22.3
12.3
7.5
22.0
22.0
13.9
12.1
17.5
19.4
22.0
14.0
19.6
21.9
28.2
15.5
*
19.3
23.2
24.7
20.2
22.8
27.2
28.0
25.4
23.4
20.0
16.8
20.1
27.5
29.1
14.9
17.8
18.5
29.8
29.4
17.5
19.3
17.8
23.4
27.2
*
*
24.2
25.5
28.0
20.4
23.2
26.7
26.2
27.7
*
1954
Q1
24.9
*
25
1953
Q1
23.6
Q2
36.8
31.7
(Percent)
*
*
*
*
*
*
*
*
*
*
*
*
*
it
*
*
*
*
*
*
*
*
20.4
20.6
28.9
16.3
16.1
29.7
17.3
17.1
27.4
17.0
17.1
25.1
17.8
17.8
31.2
17.7
17.4
33.4
18.4
18.3
27.3
17.0
17.2
13.1
17.1
17.3
21.7
15.2
15.2
23.4
14.0
13.9
18.4
16.2
16.4
19.5
15.5
15.6
17.9
15.7
17.3
18.0
18.5
13.0
14.0
14.9
15.3
14.3
14.0
16.6
20.3
16.4
15.9
17.9
21.2
15.3
14.9
17.5
18.3
15.8
*
*
*
*
*
*
*
*
*
*
*
it
*
*
*
*
*
*
*
*
it
*
*
*
it
*
it
*
it
*
it
it
*
*
*
*
17.7
19.1
21.9
20.5
17.9
24.5
26.1
23.0
19.1
21.3
24.1
21.3
10.9
7.3
28.7
21.7
8.5
9.3
9.3
22.8
21.0
12.1
10.6
12.5
22.8
19.7
17.1
10.2
15.0
21.7
14.3
14.3
13.7
15.0
24.4
22.8
15.1
12.3
13.7
24.0
22*2
17.3
10.7
12.0
23.2
19.8
14.2
5.6
3.9
18.4
13.7
6.7
6.3
9.4
20.3
20.4
10.3
4.5
5.5
9.7
9.3
21.0 19.6
18.6- 16.3
12.6 15.2
6.1
11.1
19.6
15.9
13.9
688444 O - 63 - 4
Table 3. - ANNUAL RATES OF PROFIT ON STOCKHOLDERS' EQUITY,
26
1955
Industry
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
. . . .
Ql
22.3
Q2
Q3
Q4
25.0
23.3
24.6
26.3
30.7
26.4
28.5
27.9
31.8
26.2
29.8
47.9
52.9
50.2
55.0
34.0
35.2
42.5
45.8
25.7
23.3
25.1
20.7
24.5
22.8
*
Electrical machinery, equipment, and supplies
Metalworking machinery and equipment. . . .
25.2
18.5
*
*
*
*
*
*
*
17.3
24.0
23.1
25.8
20.7
29.4
29.7
28.9
22.9
25.5
25.9
24.7
20.4
30.4
29.7
31.9
19.7
26.3
27.4
22.7
18.5
13.3
23.5
22.6
14.3
22.6
16.1
36.3
26.4
15.2
22.7
22.3
35.6
25.0
20.4
13.4
24.7
25.8
30.0
20.7
18.4
19.4
20.3
20.8
Chemicals; petroleum; rubber and plastics . . .
20.4
20.8
21.2
23.3
Chemicals and allied products
Basic chemicals and related products. . . .
26.2
28.2
28.4
29.0
Blast furnaces, steel works, and foundries.
Lumber and wood products, except furniture. .
Stone, clay, and glass products
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Petroleum refining and related industries . .
Rubber and miscellaneous plastics products. .
Other nondurable goods industries
. . . . . . .
Food and kindred products
Dairy products
*
*
*
*
*
*
*
*
16.4
16.5
25.8
15.6
15.5
28.9
16.3
16.1
27.6
19.6
19.7
26.7
16.1
17.8
19.2
18.0
15.7
18.5
20.9
16.9
*
*
*
*
*
*
*
*
*
*
*
*
Tobacco manufactures
18.8
24.6
27.3
26.0
Textile mill products
Apparel and other fabricated textile products
Paper and allied products
Printing and publishing, except newspapers. .
Leather and leather products. . . . . . . . .
11.7
12.3
20.7
20.7
16.6
10.9
9.8
23.9
21.2
15.4
11.0
15.2
23.3
20.4
19.2
13.1
13.1
24.1
18.8
17.8
*
N o t available
BY INDUSTRY, BEFORE FEDERAL INCOME TAXES (Percent)
T555
27
T m -
w
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
23.8
24.2
20.2
22.3
22.5
21.6
19.1
16.8
12.9
13.9
15.9
18.8
27.2
28.0
20.8
25.6
25.9
25.3
20.4
18.1
12.8
14.2
14.9
20.6
28.7
28.5
19.8
26.2
28.0
26.3
20.2
18.4
13.6
14.0
13.1
20.7
35.1
29.7
17.4
31.3
37.7
32.6
20.7
25.6
18.4
28.0
28.2
14.0
30.4
39.7
31.9
17.9
24.7
16.3
13.3
10.6
5.8
37.0
0.5
30.3
42.2
35.8
43.8
38.2
41.2
35.2
34.5
29.6
27.4
25.5
26.0
21.7
25.3
24.0
23.8
28.4
26.8
23.3
24.0
17.3
17.9
20.4
25.9
24.9
28.5
24.4
24.5
24.9
25.9
20.4
15.2
12.4
15.7
14.9
15.2
*
*
31.3
31.7
27.3
30.3
28.9
21.4
13.8
9.2
8.2
5.2
5.6
21.1
22.5
21.5
18.7
19.2
21.3
21.7
12.6
11.3
14.7
18.0
16.2
32.0
31.2
15.8
27.1
26.0
23.4
17.7
14.9
10.2
11.3
12.0
18.1
29.7
30.3
11.3
29.1
28.0
26.3
19.7
16.8
10.4
12.9
13.0
20.4
36.6
33.1
24.2
23.2
22.1
17.5
13.7
11.1
9.7
8 . 3
10.1
13.3
20.8
25.6
25.0
23.0
16.2
20.9
21.4
16.9
8.6.
15.1
23.4
20.1
16.2
18.9
15.7
9.2
5.0
11.1
11.3
7.6
3.2
6.9
17.5
13.9
22.5
23.1
25.4
23.1
16.9
18.7
19.4
16.9
6.6
9.5
17.3
21.1
24.9
33.0
30.1
25.8
20.1
26.5
26.3
19.6
8.5
19.7
26.6
19.9
19.6
24.7
26.2
32.5
21.9
25.7
23.8
25.2
15.8
19.5
24.7
28.1
17.5
19.9
24.1
24.1
14.6
15.9
20.7
12.9
9.5
12.9
25.8
19.1
20.5
20.5
19.7
19.2
19.2
17.8
17.9
15.5
13.0
13.5
16.8
17.0
21.9
21.7
20.0
20.4
21.6
18.8
17.5
16.1
12.9
12.7
16.2
17.0
28.8
27.6
24.9
25.1
26.3
26.0
25.4
22.4
18.4
20.0
22.2
22.7
27.6
23.6
25.6
26.1
25.6
23.5
20.4
15.0
15.7
17.5
21.2
33.3
*
*
33.0
37.4
33.4
37.8
31.7
42.4
37.5
37.7
30.0
37.1
17.4
17.7
16.8
17.3
18.7
14.2
12.4
12.3
9.8
7.9
12.0
13.2
17.4
17.6
16.6
17.3
18.8
14.2
12.3
12.3
10.0
7.9
11.8
13.2
25.0
26.0
22.4
24.3
23.4
22.9
21 ;9
18.2
11.7
17.6
22.9
21.7
19.0
19.0
19.3
17.7
16.2
16.6
18.4
14.8
13.1
14.6
17.6
17.0
18.0
20.0
20.6
17.5
16.0
17.1
20.4
16.7
14.7
17.1
19.2
18.6
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
18.2
19.5
17.0
13.2
15.6
19.0
14.1
10.9
14.3
16.8
15.9
21.4
25.2
26.2
25.4
21.0
25.4
29.3
28.3
24.6
28.2
30.3
29.7
13.7
10.4
10.9
12.0
10.1
9.3
9.6
7.4
4 . 0
5.5
9.4
10.8
15.0
10.8
22.2
17.4
12.8
12.2
18.9
9.3
8.7
6.5
18.2
13.0
23.8
24.4
21.5
21.3
19.7
18.2
17.0
15.1
14.2
15.3
15.8
17.7
27.9
26.7
23.5
20.3
23.8
26.2
25.1
16.3
17.7
18.4
22.4
14.2
18.4
14.0
13.9
14.1
14.4
14.2
15.3
15.6
10.6
9.2
15.9
15.1
Table 4. - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
28
1
EQUITY 9
1959
Industry
23.1
Q3
17.1
Q4
16.8
20.8
27.7
15.8
16.9
21.8
28.4
13.6
16.5
33.7
39.4
18.1
22.1
14.8
36.6
42.2
18.3
25.4
24.7
14.8
14.9
14.4
24.7
21.4
18.2
19.1
17.5
27.4
16.9
8.6
12.8
20.5
23.6
14.6
15.6
19.6
28.8
34.5
17.8
12.5
21.2
-0.3
-6.7
11.6
9.4
11.2
11.3
12.1
9.8
15.9
24.6
25.9
18.7
11.4
13.3
16.4
22.5
14.6
20.3
17.9
31.3
25.0
16.1
20.8
21.9
28.6
29.0
24.9
11.7
16.3
17.9
28.3
20.9
16.7
18.5
18.4
16.7
Chemicals; petroleum; rubber and plastics . . .
16.9
18.2
17,..2
15.5
Chemicals and allied products
Basic chemicals and related products. . . .
24.5
22.8
36.3
12.0
12.1
21.1
29.4
27.7
31.3
10.8
10.5
25.9
26.8
23.6
40.3
11.2
10.9
21.0
22.0
21.5
28.6
11.5
11.5
18.0
16.4
19.1
20.0
18.3
16.5
18.6
20.3
18.6
*
*
*
*
*
*
*
*
10.7
25.1
17.4
29.5
19.5
30.3
15.7
26.5
11.4
16.3
16.7
19.2
15.3
14.4
15.6
20.2
22.7
18.3
14.6
19.1
18.7
27.2
18.2
16.0
14.9
18.0
18.5
17.6
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
. . . .
Electrical machinery, equipment, and supplies
Metalworking machinery and equipment. . . .
Blast furnaces, steel works, and foundries.
Lumber and wood products, except furniture. .
Stone, clay, and glass products
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Petroleum refining and related industries . .
Rubber and miscellaneous plastics products. .
Other nondurable goods industries
Food and kindred products . . . . .
Dairy products.
Tobacco manufactures. . . .
Textile mill products
.
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
Leather and leather products
*
Not available
Ql
18.7
Q2
BY I N D U S T R Y , BEFORE FEDERAL INCOME TAXES
1960
Q2
Q3
Q4
18.4
18.0
15.4
20.6
19.7
21.9
19.8
32.5
27.5
38.1
32.9
21.0
16.6
6.0
29
1961
Ql
15.7
(Percent)
1962
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
14.8
12.6
16.8
15.8
18.5
16.7
18.9
16.7
18.1
13.9
14.1
11.0
17.8
15.0
20.3
18.2
21.3
16.5
19.2
12.7
14.0
11.6
18.1
13.9
20.7
19.7
21.8
15.5
19.7
11.5
23.3
15.3
25.0
12.4
32.1
30.9
34.8
19.0
35.2
11.3
27.3
15.7
27.4
11.3
36.6
34.3
38.3
18.6
39.4
14.2
17.1
16.0
20.5
20.6
22.1
23.4
24.7
22.7
25.1
15.1
16.7
16.7
24.0
19.5
21.2
19.2
21.0
12.2
18.3
16.0
16.9
16.3
21.2
18.4
16.8
20.7
18.3
16.8
19.6
14.3
11.9
13.0
12.8
10.4
11.1
9.5
11.5
12.5
16.5
15.9
17.1
13.5
15.7
11.7
14.2
14.4
7.8
7.4
15.0
15.9
13.6
13.2
18.8
17.3
13.5
15.1
8.9
8.5
7.9,
13.9
11.4
14.2
14.8
12.2
7.6
9.2
25.0
15.8
7.7
8.8
6.9
14.4
12.4
14.9
15.5
11.2
8.0
13.6
13.7
11.1
6.5
7.9
9.7
12.9
9.6
12.7
13.4
14.2
9.5
11.2
14.3
19.2
19.3
14.5
8.2
16.7
20.1
18.6
11.4
19.2
20.9
17.0
21.0
8.3
1.8
1.6
10.1
10.8
6.3
3.9
12.3
13.3
7.8
15.9
4.0
9.9
14.8
19.5
11.5
15.5
20.5
18.2
23.5
21.8
13.1
14.6
7.4
20.1
21.8
17.5
8.9
21.7
21.6
14.6
24.0
23.6
21.7
14.8
19.6
23.4
20.1
24.5
24.2
26.6
13.5
16.5
24.5
22.1
26.6
12.4
16.3
26.3
26.4
15-. 7
16.3
24.3
22.0
l'6.2
16.4
16.9
15.4
14.1
15.8
16.5
16.8
15.3
16.5
16.8
17.0
15.9
15.7
15.9
15.0
14.5
15.6
15.3
16.1
15.4
15.8
15.5
16.6
23.8
25.0
22.8
18.9
18.6
23.9
22.5
22.1
21.9
25.4
23.6
22.2
23.3
18.4
16.3
20.9
18.3
20.2
19.9
24.2
20.2
21.3
37.2
28.4
36.3
28.0
16.3
31.6
30.0
35.8
32.0
35.1
28.9
35.8
30.0
10.9
9.8
12.3
10.3
10.9
12.3
11.5
9.9
11.0
13.5
12.4
10.2
10.6
12.1
11.6
9.7
10.8
13.4
13.5
20.3
17.6
19.2
17.4
20.7
15.4
16.5
13.6
16.0
18.1
17.8
15.1
17.4
18.6
17.6
15.4
18.1
19.6
18.2
15.2
17.8
7.7
11.1
13.1
13.0
14.3
23.2
22.0
11.0
9.7
12.1
11.8
19.6
20.2
16.7
17.5
18.3
16.1
*
17.6
*
19.5
•k
*
*
9.4
*
16.0
15.2
17.2
28.8
12.8
12.8
14.9
16.1
17.4
*
*
*
*
*
19.0
*
17.2
*
18.5
17.8
19.9
*
18.7
18.2
15.6
13.1
20.2
19.0
21.8
15.7
9.9
15.2
18.6
16.1
9.4
15.9
19.2
15.9
27.4
25.5
29.2
29.8
28.9
24.5
27.0
28.6
28.3
11.4
10.3
7.2
9.5
11.7
13.5
11.4
13.0
12.5
14.0
23.1
13.5
7.0
10.1
22.1
20.9
14.4
15.7
21.0
19.4
15.9
14.9
13.3
16.1
14.3
16.6
14.8
17.2
15.4
15.2
23.4
18.7
15.6
15.1
23.5
17.1
16.3
20.1
23.2
19.5
9.0
6.3
10.6
14.9
14.1
12.6
13.8
17.4
25.2
28.5
13.8
12.5
12.4
16.8
14.0
18.4
21.4
20.3
17.1
14.2
9.5
10.8
30
1
Table 4 . - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
EQUITY 9
1947
Industry
Ql
17.0
Q2
Q3
Q4
15.5
14.7
15.2
15.8
15.0
13.2
14.0
15.5
14.4
12.6
13.5
12.1
16.9
11.6
16.7
10.4
15.6
9.9
16.5
20.0
16.5
19.1
17.7
16.9
14.2
20.2
14.6
*
*
*
*
19.7
14.5
14.4
14.7
17.5
11.8
11.1
13.0
16.5
10.2
10.8
9.0
17.1
12.2
11.9
13.0
16.8
17.1
15.9
15.8
22.5
19.8
14.4
14.6
15.1
22.2
20.1
15.5
14.4
14.7
21.7
17.3
13.1
12.8
16.0
25.1
15.3
13.0
15.7
10.2
18.1
15.9
16.1
16.4
Chemicals; petroleum; rubber and plastics . . .
15.3
14.2
14.5
16.1
Chemicals and allied products . . . . . . . .
Basic chemicals and related products. . . .
19.4
15.3
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
. . . .
Motor vehicles and equipment
Aircraft and parts
Electrical machinery, equipment, and supplies
Metalworking machinery and e q u i p m e n t . . . .
Blast furnaces, steel works, and foundries.
Lumber and wood products,. except furniture. .
Furniture and fixtures.
Stone, clay, and glass products
Instruments and related products. . . . . . .
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
Other nondurable goods industries
Food and kindred products
.
Bakery products
Textile mill products
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
Leather and leather products
. . .
*
Not available
*
*
*
*
15.2
*
13.9
*
*
*
*
*
12.4
14.3
15.7
16.6
16.5
8.3
8.9
16.0
20.6
17.6
17.5
16.7
18.8
16.5
18.3
16.6
•k
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
9.0
9.4
10.8
11.3
23.9
21.3
25.4
21.7
20.1
18.6
16.2
23.8
18.8
12.8
15.8
20.6
20.2
18.8
12.0
19.7
17.5
18.9
9.3
11.5
BY I N D U S T R Y , AFTER TAXES (Percent)
31
1949
1948
1950
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
16.6
15.9
15.8
15.7
12.7
10.5
11.8
11.6
12.0
15.6
17.5
16.5
15.3
15.2
15.6
16.8
13.7
10.9
12.2
11.6
13.0
18.2
18.9
17.1
15.2
15.0
15.4
17.5
14.4
11.3
12.5
11.6
13.6
18.6
18.6
16.9
14.1
14.8
16.8
19.2
16.7
16.9
21.8
16.7
18.9
27.2
24.3
15.7
17.7
17.7
21.2
22.8
19.7
21.0
27.4
20.0
22.9
32.5
28.8
16.8
16.8
15.7
14.0
17.9
12.6
10.2
10.9
20.7
17.4
18.5
22.0
25.4
17.6
17.0
15.0
15.8
14.1
12.3
10.5
9.5
11.0
14.8
14.8
15.6
*
*
*
*
*
*
*
*
*
*
*
*
*
*
it
*
*
it
*
*
it
*
*
*
17.2
16.3
17.2
17.3
11.8
7.4
12.1
10.0
11.2
15.5
19.2
17.7
13.2
13.0
14.3
17.4
14.5
8.1
7.5
7.2
11.2
15.6
15.4
15.7
12.8
12.6
14.7
18.4
15.0
10.1
8.4
6.4
11.7
16.1
15.2
14.1
14.0
13.8
13.5
15.4
13.4
4.2
5.8
8.9
10.2
14.6
15.8
19.2
15.5
16.0
16.3
13.9
10.3
9.5
10.9
11.4
10.5
16.7
20.3
17.8
24.8
20.8
19.3
12.6
9.0
9.1
8.2
10.1
10.5
18.1
22.7
18.2
19.7
17.5
13.5
13.1
9.2
6.5
7.3
9.6
8.5
15.3
16.2
20.5
16.1
11.0
16.3
17.1
15.4
11.0
13.1
15.1
13.2
12.4
20.1
22.0
12.4
13.7
13.3
16.7
12.3
11.8
11.1
13.2
12.6
16.0
18.7
19.4
12.4
10.4
15.0
11.0
9.9
2.1
7.7
8.8
5.2
8.5
16.7
18.2
17.8
16.4
16.1
14.7
11.8
10.0
11.5
11.5
11.0
13.1
16.2
15.9
20.0
17.4
16.8
16.9
13.2
10.8
11.8
12.6
11.8
14.8
16.9
18.1
17.1
14.1
16.0
15.9
13.9
10.0
14.1
14.6
15.6
17.5
20.6
17.3
*
*
23.1
*
*
*
20.0
*
*
*
17.9
*
*
*
18.0
*
*
*
13.4
*
*
*
11.6
*
it
*
11.1
*
*
*
11.5
*
*
*
9.8
*
*
*
*
*
*
*
13.3
14.1
18.2
21.4
*
it
*
11.0
13.7
12.0
12.7
8.1
7.2
6.9
12.3
9.5
13.6
22.2
15.8
15.5
15.3
12.5
10.3
9.3
11.1
10.4
10.2
11.5
15.6
13.7
10.6
13.4
14.9
12.3
9.5
12.3
14.3
10.9
9.1
12.5
16.2
11.4
*
*
*
*
*
*
*
*
*
*
*
*
17.6
15.5
20.9
16.1
14.4
10.2
14.4
5.0
19.3
17.2
15.1
15.9
16.1
12.0
10.4
9.8
11.4
24.1
18.8
*
*
*
*
*
*
*
*
*
*
*
*
*
it
*
*
*
*
*
*
*
*
*
*
11.6
12.6
13.7
12.6
10.0
11.8
13.3
10.9
14.8
9.9
4.6
6 . 3
9.7
10.9
10.2
14.6
10.5'
5.2
9.5
5.1
6.5
5.2
16.5
12.2
13.9
11.9
8.5
9.1
13.3
12.7
14.4
16.6
20.8
16.9
10.0
14.4
11.8
13.2
6.2
13.0
9.4
14.2
9.5
11.7
7.7
6.3
3.7
7.2
7.7
6.5
7.3
14.7
15.0
32
Table 4 . - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
EQUITY 9
1951
Industry
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
1
. . . .
Electrical machinery, equipment, and supplies
Ql
14.3
Q2
Q3
Q4
13.3
10.0
10.9
15.6
14.7
10.1
11.7
15.6
14.8
10.0
12.3
15.0
16.9
15.7
17.1
10.0
10.7
12.3
12.7
*
*
*
*
17.9
15.4
13.5
15.1
8.9
10.6
15.8
11.3
*
*
*
*
17.6
14.6
14.0
16.0
14.4
14.5
14.3
15.0
11.1
9.6
9.1
10.7
10.5
12.5
11.9
13.9
15.7
14.2
10.6
9.2
15.4
17.3.
16.5
15.0
14.4
14.2
12.4
17.2
14.5
9.7
10.3
9.1
13.3
10.7
7.0
7.9
7.0
10.0
12.9
7.9
13.2
12.0
9.8
10.2
Chemicals; petroleum; rubber and plastics . . .
15.3
14.3
12.6
14.2
Chemicals and allied products
Basic chemicals and related products. . . .
Drugs
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
15.9
12.8
9.4
10.9
*
*
*
*
*
*
*
*
14.5
14.6
18.6
15.2
15.2
15.5
14.6
14.7
11.9
16.3
16.5
13.1
11.2
9.8
7.2
6.4
8.4
8.2
6.9
*
*
Metalworking machinery and equipment. . . .
Other fabricated metal products
Blast furnaces, steel works, and foundries.
Lumber and wood products, except furniture. .
Stone, clay, and glass products
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Other nondurable goods industries
Food and kindred products
Dairy products
Bakery products
Alcoholic beverages
Tobacco manufactures
9.1
.
Textile mill products
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
Leather and leather products
*
N o t available
*
*
*
*
*
*
*
*
*
9.5
10.0
8.8
9.6
14.1
6.1
17.8
9.4
4.2
10.5
2.3
16.7
12.8
2.6
3.5
1.8
12.1
9.9
4.3
5.2
1.8
9.4
8.9
-2.6
-
*
BY INDUSTRY, AFTER TAXES (Percent)
T932
Q1
Q2
10.1
10.0
11.0
11.7
1553
TS5S
Q4
Q1
Q2
Q3
9.9
11.3
10.7
11.2
10.8
10.0
12.4
11.7
11.1
9.9
13.0
12.4
14.7
11.5
12.9
15.4
11.4
*
Q3
*
*
Q4
Q1
10.5
9.5
9.4
10.4
9.3
10.6
12.3
10.8
9.6
9.6
11.3
9.4
10.8
12.3
12.5
10.9
10.1
10.5
11.7
8.9
10.7
15.6
14.6
15.1
12.7
13.0
15.3
17.6
11.1
14.6
16.0
15.2
15.0
12.8
12.6
15.3
17.4
9.7
14.0
*
*
*
*
*
*
Q2
*
Q3
*
Q4
*
13.4
11.4
12.0
17.8
15.1
12.8
12.1
12.4
12.9
11.8
10.5
14.5
12.2
12.5
10.2
10.4
11.3
11.7
8.7
7.6
9.5
7.8
7.0
*
.*
10.2
*
*
*
*
9.0
8.6
6.2
*
9.9
*
10.4
>
*
*
*
*
10.5
9.7
9.4
11.0
10.9
8.1
6.6
10.8
7.4
7.3
12.5
11.4
11.6
10.6
9.7
8.1
9.2
7.5
10.6
9.7
5.5
6.3
12.4
10.9
11.4
11.0
9.4
7.6
8.3
6.5
10.0
13.0
11.3
9.3
12.6
12.4
11.9
9.9
10.2
9.2
11.0
9.5
11.9
8.2
9.9
10.7
10.1
9.1
11.7
10.3
7.3
6.0
10.0
11.2
11.0
8.0
9.0
9-. 8
7.3
7.0
9.8
7.6
3.9
2.3
6.7
6.9
9.2
7.4
9.0
8.4
9.8
11.2
10.4
7.1
4.4
3.2
5.2
6.4
9.0
8.4
12.6
13.6
11.9
9.3
14.9
13.8
9.1
7.6
14.6
15.4
12.2
10.6
11.1
11.2
13.6
11.7
11.7
10.7
6.5
6.1
7.3
8.1
8 . 3
9.0
9.2
9.3
9.8
10.2
9.8
12.3
12.0
11.6
13.1
11.1
10.6
10.5
11.3
*
*
*
*
*
*
*
*
11.6
10.7
11.4
12.9
14.1
• 9.1
6.3
5.0
6.5
9.1
9.3
10.2
10.3
9.4
9.2
9.5
9.3
10.5
11.9
12.4
12.1
12.7
11.9
11.8
11.1
13.5
11.4
11.6
10.3
9.7
11.2
11.8
11.0
12.5
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
13.4
12.9
12.3
14.2
12.2
12.9
13.2
14.7
12.5
11.9
11.4
14.2
13.6
13.0
12.3
14.5
12.3
12.9
13.3
15.0
12.8
12.0
11.4
14.5
9.6
10.8
11.2
13.0
11.5
12.1
11.5
10.1
10.3
10.9
9.5
11.6
6 . 3
6.7
8.1
7.4
7.7
8.0
8.5
5.9
6.2
7.0
7.4
7.2
5.9
7.7
9.4
7.4
7.0
8.2
10.2
*
*
6.4
8.6
9.2
*
7.1
8.1
*
*
*
*
•
*
*
*
*
*
*
7.7
9.0
4 . 0
3.2
1.8
3.4
11.4
9.5
10.9
2.6
*
*
7.3
*
*
*
10.5
9.6
9.0
5.3
4 . 9
2.1
2.1
6.7
4 . 9
1.0
3.7
10.2
10.2
9.2
9.7
11.4
10.8
8.9
6.8
6.5
8.0
6.2
3.1
*
9.3
7.7
9.5
4.7
4 . 9
6.0
5.8
7.8
7.6
10.1
10.8
10.6
10.2
9.4
6.2
5.6
8.1
6.7
*
*
*
*
*
668444 O - 63 - 5
*
*
*
*
*
*
*
*
*
*
*
11.4
10.2
1.0
1.9
2.4
3.8
4.9
5.7
10.3
9.5
10.2
10.5
10.0
7.9
8.4
4 . 0
5.4
7.6
6.7
10.0
Table 4 . - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
34
1
EQUITY 9
1955
Industry
Ql
Q2
Q3
Q4
All manufacturing corporations, except newspapers
11.4
13.0
12.3
13.5
Durable goods industries
12.6
15.1
12.9
14.4
13.3
15.4
12.6
15.0
Metals and metal fabricating industries
. . . .
Transportation equipment
Motor vehicles and equipment. . . . . . . .
Aircraft and parts
Electrical machinery, equipment, and supplies
Machinery, except electrical. . . . . . . . .
Metalworking machinery and equipment. . . .
Other fabricated metal products . . . . . . .
Primary metal industries
.
Blast furnaces, steel works, and foundries.
Nonferrous metals . . .
Other durable goods industries.
. . . . . . . .
Lumber and wood products, except furniture. .
Furniture and fixtures
Stone, clay, and glass products
Instruments and related products
Miscellaneous manufacturing, and ordnance • .
Nondurable goods industries
Chemicals; petroleum; rubber and plastics . . .
Chemicals and allied products
Basic chemicals and related products. . . .
Drugs
Petroleum refining and related industries • .
Petroleum refining
Rubber and miscellaneous plastics products. .
Other nondurable goods industries
Food and kindred products .
Dairy products. . .
Bakery products . . . . . . . .
Alcoholic beverages . . .
Tobacco manufactures
N o t available
23.6
15.3
20.3
25.8
15.7
21.7
12.0
12.3
11.9
13.1
8.7
11.3
10.0
11.2
*
*
.
*
*
*
*
*
*
8.4
9.8
11.5
12.3
15.0
13.0
16.2
11.2
14.5
12.8
15.5
14.5
16.1
13.5
17.6
9.5
13.7
14.3
11.8
10.3
13.0
13.3
7.7
5.2
7.5
11.7
12.2
10.3
11.5
19.1
18.5
13.2
10.1
13.0
11.8
15.0
5.9
6.8
10.3
11.2
10.4
11.1
11.7
12 .6
12.7
13.1
13.4
15.7
13.3
14.8
15.0
15.7
*
*
*
*
*
*
*
*
12.4
12.1
12.5
15.9
12.6
12.1
12.5
16.1
12.0
13.5
13.2
13.9
7.8
8.7
9.7
8.9
7.3
9.2
10.7
8.4
*
Textile mill products . . . . . . . . . . . .
Apparel and other fabricated textile products
Paper and allied products . . . . . . . * . .
Printing and publishing, except newspapers. .
Leather and leather products. . .
*
21.7
23.6
*
*
8.9
*
*
*
*
*
*
*
*
11.8
13.1
11.8
5.7
5.2
5.3
6.5
5.8
4 . 1
7.5
7.2
10.3
11.9
11.6
12.3
10.8
10.7
10.6
8.8
8.1
7.1
10.1
8.7
BY I N D U S T R Y , AFTER TAXES (Percent)
35
1956
91
Q2
12.5
1957
Q4
1958
Q2
93
12.6
Ql
11.9
11.6
10.6
13.2
12.7
14.2
10.0
13.4
13.9
13.1
20.2
12.1
14.2
8.6
6.9
17.1
11.6
12.0
10.9
16.4
14.7
19.9
15.3
11.5
16.1
15.1
18.0
10.6
94
Q4
Ql
Q2
Q3
10.5
9.8
6.8
7.8
9.0
10.7
12.6
10.4
9.5
6.1
7.2
7.8
10.8
13.8
13.0
10.2
9.5
6.7
7.1
6.7
10.7
15.8
15.7
20.3
11.4
12.3
17.8
18.8
17.9
13.9
12.3
15.6
15.3
19.3
12.9
13.0
10.4
9.2
16.7
11.5
10.1
13.6
13.6
17.0
11.9
7.5
9.1
8.3
14.1
8.3
5.6
7.0
5.9
12.7
9.1
7.7
3.8
1.5
12.4
9.9
7.1
15.3
16.9
13.3
13.4
7.0
15.9
11.0
8.7
6.0
13.9
13.0
9.4
14.7
15.1
14.1
14.9
9.5
13.4
13.8
12.4
14.1
10.9
11.9
13.0
9.7
10.6
11.0
9.3
9.9
8.1
6.3
5.8
8.4
8.9
7.1
3.0
5.0
5.4
5.3
5.7
3.4
7.3
5.9
6.5
4.6 .
0.6
8.8
6.2
6.5
5.6
1.1
7.9
9.5
10.4
7.9
13.4
13.2
12.1
7.7
10.6
11.1
9.3
3.2
7.7
12.8
10.8
9.1
10.7
12.6
8.7
9.7
11.0
11.4
17.2
11.9
10.4
9.0
13.0
15.9
12.5
13.3
5.6
11.2
13.6
16.3
13.0
2.0
7.3
10.0
10.6
6.9
6.2
9.2
13.7
12.4
7.5
4.1
6.5
9.7, 7.8
13.8 11.9
11.6 13.2
5.8
10.4
0.2
2.0
3.4
7.0
3.6
3.1
3.4
11.0
9.6
5.7
11.0
8.6
14.7
12.2
13.7
8.4
11.0
11.4
13.6
9.2
11.6
12.0
11.4
12.1
11.2
10.6
10.6
10.1
7.6
8.3
10.1
10.7
13.6
14.2
13.0
14.6
13.9
12.5
11.8
12.3
8.8
9.2
11.0
12.3
15.0
12.9
13.1
11.9
14.7
15.0
16.5
14.0
14.0
13.1
13.1
12.8
18.8
13.1
13.2
11.0
13.9
14.6
17.4
15.2
15.3
12.8
13.7
13.9
17.9
14.2
14.4
11.5
13.9
13.8
16.6
11.7
11.8
11.6
13.1
12.6
20.9
11.1
11.1
10.9
12.3
11.6
19.1
12.4
12.5
10.6
9.8
8.4
18.8
8.7
8.9
5.3
11.0
8.8
15.5
8.2
8.2
8.7
11.8
9.7
18.9
10.5
10.4
11.5
12.8
12.5
17.7
12.2
12.3
10.8
9.2
.9.4
9.6
9.0
7.8
8.2
9.2
7.3
5.9
7.1
9.0
8.6
8.2
9.9
10.4
8.7
7.4
8.4
10.4
8.3
6.8
8.5
9.8
9.7
*
*
*
*
*
*
13.0
93
11.0
13.3
14.0
14.0
16.1
16.7
*..
10.3
11.9
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
*
10.0
8.9
12.0
8.6
12.7
7.9
12.1
6.5
10.3
7.6
11.9
9.5
13.9
6.7
13.8
4.8
11.8
6.9
13.3
8.4
14.5
7.9
14.3
6.4
6.8
12.1
16.3
9.6
4.8
4.5
12.2
15.0
6.6
5.5
10.9
6.4
10.0
11.3
10.0
6.4
4.4
6.7
10.2
12.3
6.6
4.4
5.9
9.0
14.8
6.5
4.8
9.7
8.7
11.9
6.9
3.4
3.0
7.8
8.0
8.0
0.6
3.3
7.0
8.4
4.1
2.5
1.5
7.9
9.4
3.2
5.1
9.4
7.9
11.5
8.3
5.8
5.5
9.3
6.6
6.9
11.0
11.0
6.3
Table 4 . - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
36
1
EQUITY 9
1959
Industry
Q3
Q4
12.4
9.6
9.6
10.2
14.0
8.3
9.0
. . . .
10.7
14.2
7.1
8.8
Electrical machinery, equipment, and supplies
Machinery, except electrical
16.3
19.1
8.8
10.7
7.1
17.9
20.5
9.0
12.7
12.5
7.6
8.0
6.8
12.1
10.7
9.8
10.8
8.0
14.3
8.5
3.1
5.9
10.5
11.7
8.2
7.9
9.7
14.5
16.7
10.3
6.1
10.9
0.5
-2.7
6.7
3.7
5.6
6.4
6.3
6.7
7.8
13.0
14.1
10.0
6.1
6.2
8.0
10.8
7.2
11.3
9.1
17.4
12.0
7.1
12.9
11.7
15.7
14.5
12.4
7.0
8.3
9.8
14.8
10.2
9.8
11.0
10.9
10.1
Chemicals; petroleum; rubber and plastics . . .
11.0
11.8
11.4
10.7
Chemicals and allied products . .
Basic chemicals and related products. . . .
13.0
12.1
18.5
10.0
10.1
10.0
15.6
14.7
17.0
9.5
9.4
13.1
14.1
12.5
20.8
9.9
9.7
11.1
11.9
12.2
15.0
10.0
10.1
9.9
8.0
9.7
10.3
9.4
7.8
9.5
10.4
9.4
*
*
*
*
*
*
*
*
4.8
12.0
8.9
14.2
10.2
14.4
7.5,
12.8
5.9
8.6
8.5
9.8
6.9
8.1
7.5
10.2
12.0
8.9
7.6
10.1
9.6
14.9
8.7
8.6
8.1
9.6
8.8
9.2
All manufacturing corporations, except newspapers
Metals and metal fabricating industries
Metalworking machinery and equipment. . . .
Other fabricated metal products
Blast furnaces, steel works, and foundries.
Nonferrous metals
Other durable goods industries. .
Lumber and wood products^ except furniture. .
Furniture and fixtures. ..
Stone, clay, and glass products
Instruments and related products
Miscellaneous manufacturing, and ordnance . .
Nondurable goods industries
Petroleum refining and related industries . .
Petroleum refining
Rubber and miscellaneous plastics products. .
Other nondurable goods industries
Food and kindred products
Dairy products
Bakery products
Alcoholic beverages
Textile mill products
Apparel and other fabricated textile products
Printing and publishing, except newspapers. .
Leather and leather products
*
Not available
Ql
10.0
Q2
BY I N D U S T R Y , AFTER TAXES (Percent)
I960
1961
1962
Q1
Q2
Q3
Q4
Q1
Q2
Q3
9.8
9.9
8.7
8.4
6.8
9.2
8.8
10.5
9.0
10.3
9.3
10.5
10.0
10.1
7.1
7.0
5.2
8.9
7.8
10.4
8.9
10.9
8.5
10.2
10.8
10.0
6.5
6.9
5.6
9.0
7.1
10.5
9.8
11.0
7.9
10.5
Q4
Q1
Q2
Q3
Q4
15.7
14.2
5.9
10.9
7.6
12.1
6.7
15.8
15.2
16.8
9.5
18.5
18.5
16.1
6.1
13.2
8.0
13.2
6.3
18.1
16.8
18.3
9.3
20.6
7.2
7.3
6.4
8.5
7.2
10.2
10.9
10.8
12.3
12.7
11.8
13.9
10.4
10.0
9.1
8.6
7 . 3
8.2
8.1
12.0
9.2
10.4
9.5
11.2
8.1
9.7
6.9
5.6
5.7
9.1
7.8
8.5
8.1
10.8
9.2
8.2
5.9
5.4
4 . 5
5.3
4 . 4
5.1
6.0
8.4
8.2
9.7
6.8
8.5
5.3
6.9
7.2
3.0
2.5
7.3
7.7
6.2
6.3
9.8
8.6
6.9
10.7
8.1
5.0
4 . 9
4.2
7.3
6.3
8.0
7.8
6.8
4.2
5.8
12.1
8.0
4 . 0
4.6
3.2
7.0
6.4
8.0
7.6
5.8
3.4
5.0
8.0
8.2
6.8
5.5
6.1
8.0
6.1
8.1
8.2
8.8
5.8
7.3
6.6
10.1
10.1
7.4
3.1
8.7
10.5
9.9
5.0
10.2
11.2
9.1
4 . 9
3.3
6.2
4.6
0.3
-0.6
6.2
6.8
3.7
1.4
7.6
8.4
5.5
5.8
8.2
6.5
-1.1
4 . 0
7.0
9.6
4.6
7.2
10.8
9.1
6.7
13.1
11.9
7.8
2.9
10.9
11.7
9.7
3.7
11.8
11.9
8.0
11.6
12.1
11.9
10.8
7.1
9.9
11.6
13.5
9.8
12.6
12.0
13.6
5.7
7.9
11.5
11.6
5.9
7.2
12.6
13.7
6.8
7.3
12.3
11.3
9.6
9.8
10.2
9.8
8.5
9.6
9.9
10.6
9.1
9.8
10.0
10.8
10.6
10.6
10.9
10.9
10.0
10.9
10.4
11.6
10.4
10.5
10.5
11.9
12.5
13.b
12.1
10.6
9.8
13.2
11.8
12.2
11.5
13.5
12.2
12.5
11.8
12.7
10.2
9.8
9.1
11.4
9.9
11.8
10.7
13.0
10.7
12.5
18.6
15.1
18.6
15.0
16.2
15.2
18.7
16.6
17.8
14.7
18.1
16.4
9.7
8.8
10.5
11.5
10.5
9.6
9.7
11.3
9.9
8.8
9.7
11.8
9.8
8.8
10.3
11.5
10.6
9.6
9.6
11.3
10.0
8.8
9.7
11.8
9.8
10.5
8.2
7.9
6.7
10.6
9.2
10.7
9.1
.10.9
8.5
9.8
8.1
8.7
9.2
8.1
6.3
7.8
9.1
9.2
7.2
8.7
9.4
9.2
7.6
8.8
9.8
8.7
7.2
9.2
10.0
9.1
7.1
8.9
10.1
9.1
*
*
*
*
*
*
*
*
*
9.7
9.0
8.4
12.5
*
*
*
*
*
9.3
7.8
8.1
6.0
9.9
9.3
4 . 3
8.1
8.9
7.1
4 . 5
7.4
9.7
7.7
4 . 1
7.8
9.7
8.1
12.0
13.6
13.7
14.2
12.0
14.1
14.3
14.2
11.7
12.9
13.7
14.0
6.6
6.1
5.7
5.0
2.6
4 . 3
6.0
7.1
5.3
6.3
6.0
7.3
5.2
6.9
11.9
6.8
2.1
2.6
11.2
12.3
6.7
7.4
11.3
11.1
8 . 5
9.3
8.2
8.1
6.6
8.3
7.3
9.1
7.4
8.7
8.0
8.3
11.3
10.2
11.8
9.0
7.5
6.8
11.2
8.4
7.7
11.1
11.6
10.7
10.4
6.2
3.6
5.0
3.3
2.6
4.7
6.9
6.3
5.2
6.4
9.6
Table 5 . - PROFITS PER DOLLAR OF S A L E S ,
38
Asset
1947
size
All manufacturing corporations, except newspapers
Under $1 million
$
1 million to $
5 million
$
5 million to $ 100 million
$ 100 million and over
. .
Q1
Q2
Q3
Q4
12.4
11.1
10.6
10.1
9.6
8.9
8.7
5.2
13.0
11.2
10.3
8.3
13.3
11.9
11.3
11.2
12.2
11.0
10.8
11.6
Q1
Q2
Q3
Q4
12.4
11.7
10.5
10.1
6.4
6.2
4.8
3.0
9.9
9.1
7.1
6 . 1 .
11.9
11.1
8.4
8.8
13.7
12.8
11.0
10.6
14.4
13.5
11.7
11.3
15.5
14.8
14.0
14.4
Q1
Q2
Q3
Q4
9.9
10.6
10.2
10.3
3.6
5.7
7.5
<9.0
4.0
6.6
8.4
10.1
4.8
6.6
8.4
10.1
2.4
5.6
8.4
10.3
9.3
r
<13.2
(_
10.1
9.9
10.1
13.9
13.0
13.9)
J
1951
Asset size
All manufacturing corporations, except newspapers
Under $1 million
,$
1 million to $
5
$
5 million to $
10
$
10 million to $
50
$
50 million to $ 100
$ 100 million and over
.
million
million
million
million
. . . . .
1955
All manufacturing corporations, except newspapers
Under $1 million
$
1 million to
$
5 million to
$
10 million to
$
25 million to
$
50
$ 100
$ 250
$1,000
million
million
million
million
$
$
$
$
5
10
25
50
million
million . . . . .
million . . . . .
million
to $ 100 million . . . . .
to $ 250 million . . . . .
to $1,000 million
and over
BY ASSET S I Z E , BEFORE FEDERAL INCOME TAXES (Percent)
1948
39
1949
01
02
03
04
11.5
11.1
11.0
7.0
10.0
11.6
13.5
7.6
9.5
11.5
12.5
6.8
9.2
11.1
12.8
Ql
Q2
9.9
9.2
1950
Ql
Q2
Q3
Q4
10.9
9.9
8.5
9.5
3.7
7.1
11.1
14.1
5.4
7.0
9.7
12.2
4.1
6.5
8.2
10.5
5.2
6.9
8.9
11.9
Q3
Q4
Ql
Q2
8.9
8.6
10.0
1952
Ql
02
Q3
04
9.3
10.1
11.8
13.5
14.9
2.5
5.7
9.1
12.6
4.3
7.3
9.5
12.8
6.4
8.5
11.3
14.4
8..6
10.3
13.3
16.0
7.1
11.0
14.9
18.2
1954
1953
Q3
Q4
Ql
Q2
10.4
9.6
6.7
8.4
8.9
Q3
.
8.2
Q4
8.2
4 . 4
5.2
5.2
2.5
4.2
5.3
4.4
0.8
2.5
3.9
4.0
1.6
6.9
6.7
6.5
5.8
7.0
6.8
6.1
3.6
4.7
5.0
4.8
4.2
6.5
8.8
8.9
8.2
8.1
10.1
9.6
8.7
5.9
7.3
7.9
7.2
10.1
9.7
9.2
8.9
10.2
10.4
9.5
7.1
8.1
8.4
8.1
7.9
10.1
9.2
9.0
9.1
9.9
10.2
9.5
7.0
8.0
8.3
8.0
8.0
13.1
11.6
11.1
11.5
12.6
12.9
12.2
9.1
11.3
11.7
10.7
11.5
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
10.2
10.3
9.0
9.3
9.7
9.4
8.5
7.6
6.4
6.8
7.7
8.6
1957
1956
1958
4 . 1
5.0
5.1
2.7
3.5
4.2
4.2
1.5
1.3
2.5
3.6
1.6
6.9
6.9
6.9
5.9
6.3
6.3
6.0
3.9
3.1
4.4
5.4
4 . 5
8 . 9
8 . 8
8.6
7.7
7.4
8.4
8.1
6.1
5.5
6.4
7.9
7.3
9.7
10.2
9.6
9.6
9.1
9.1
8.6
7.5l
5.8
6.8
7.8
8.4
6.5
6.8
7.7
8.5
J
10.8
10.9
10.8
10.1
9.8
9.7
9.4
8.1
7.1
7.1
8.5
8.7
10.3
10.1
8.7
9.8
9.6
9.2
8.7
8.3
7.3
7.9
8.4
9.6
12.3
12.4
10.4
11.1
10.8
10.4
9.9
9.0
7.6
8.1
9.2
9.8
15.5
15.0
11.8
14.0
15.4
14.3
11.9
12.6
10.6
9.7
10.4
14.9
40
Table 5 . - PROFITS PER DOLLAR OF SALES,
Asset size
Q 1
All manufacturing corporations, except newspapers
million
million
million
million
8.2
7.9
million
million
million
million
2.8
5.1
6.1
7.7
8.4
4.2
6.0
8.2
9.5
9.7
4.3
6.1
8.2
8.7
9.1
U8
4.4
6.4
8.3
8.3
to $ 100 million
to $ 250 million
to $1,000 million . . . . .
and over
9.1
9.6
9.5
15.2
10.6
10.7
11.0
16.4
10.4
9.5
8.4
10.2
9.3
9.6
8.8
12.2
9.7
11.7
7.7
7.9
4.4
6.8
8.6
8.9
6.0*
9.9
10.8*
11.3
6.2
9.1
9.4
9.9
3.5
6.7
9.0
9.0
9.6
9.9
10.0
15.4
11.7
11.4
12.2
17.0
10.8
8.9
6.9
7.1
9.7
9.7
8.0
10.5
8.0
8.6
8.6
7.8
3.4
5.4
6.8
8.0
4.3
6.4
7.9
8.0
4.2
7.2
8.1
8.4
2.5
6.0
7.5
7.6
10.1
10.0
9.8
14.4
9.0
9.5
9.4
14.9
$
$
$
$
Under $5 million
$
5 million to $
$
10 million to $
$
25 million to $
million
million
million
million
5
10
25
50
10 million . . . . .
25 million
50 million
to $ 100 million
to $ 250 million
to $1,000 million
and over
Nondurable goods industries
Under $5 million
$
5 million to $
$
10 million to $
$
25 million to $
$
50
. $ 100
$ 2*50
$1,000
million
million
million
million
<34
10.2
Durable goods industries
50
$
$ 100
$ 250
$1,000
1959
Q3
8.9
Under $1 million
$
1 million to
$
5 million to
$
10 million to
$
25 million to
$
50
$ 100
$ 250
$1,000
Q2
10 million
25 million
50 million
to $ 100 million . . . . .
to $ 250. million . . . . .
to .$1,000 million
and over
8.7
9.7
9.3 10.0
9.1
9.9
14.8 15.3
BY ASSET S I Z E , BEFORE FEDERAL INCOME TAXES (Percent)
I960
1961
Q3
Q1
Q2
Q3
Q4
Q1
Q2
8.7
8.4
7.6
7.1
6.5
8.0
2.6
4.7
6.0
7.2
8.2
3.2
5.0
7.0
7.5
8.4
3.5
4.6
6.4
7.0
7.9
1.1
2.7
4.5
6.0
7.2
1.4
2.5
4.4
5.0
5.7
8.8
9.4
9.3
14.5
8.6
9.0
9.1
13.2
8.2
8.1
9.0
10.6
7.4
7.6
8.6
12.7
9.4
8.9
7.0
3.9
6.9
7.8
8.5
4.7
8.7
8.2
9.1
9.2
9.2
9.4
14.7
41
1962
Q4
Q1
Q2
Q3
Q4
7.7
8.5
8.0
8.6
7.9
8.2
2.9
4.5
5.7
7.0
7.8
3.4
5.0
6.8
6.9
8.1
2.6
4.6
6.5
7.1
8.1
2.3
4.3
5.4
6.3
7.2
4.1
5.2
6.6
7.2
8.4
4.2
5.4
6.4
7.2
8.1
2.2
4.0
6.3
7.2
7.9
6.8
6.6
7.7
11.6
8.0
8.0
8.6
13.6
8.1
7.9
8.8
11.4
8.4
8.5
9.1
15.2
7.3
8.2
7.9
14.2
8.2
8.9
8.4
14.0
8.1
8.3
8.0
12.0
7.8
8.5
8.2
14.4
6.8
5.8
8.4
7.5
9.2
8.5
9.4
7.9
8.5
4.3
6.6
7.1
7.6
1.6
3.9
5.8
7.1
2.0
4.4
4.5
5.3
4.4
6.4
7.1
8.2
4.6
7.3
7.0
8.0
4.3
7.0
7.9
8.2
4.0
6.0
6.8
7.2
5.7
7.5
8.0
9.0
5.7
7.2
7.4
7.9
3.5
6.6
7.4
8.2
8.8
8.3
8.4
13.2
7.7
6.7
8.4
8.3
6.6
6.2
8.1
11.5
6.2
5.5
6.6
9.4
8.1
7.4
8.4
13.1
8.3
7.3
8.4
9.3
8.9
8.3
8.7
15.1
8.2
8.1
7.5
14.4
9.2
8.8
8.2
14.6
8.7
7.9
7.2
10.7
8.6
8.3
7.6
14.0
8.0
7.9
8.2
7.4
7.1
7.6
7.9
7.9
7.5
7.8
8.0
7.9
3.2
5.0
6.5
7.9
3.4
5.1
6.7
7.5
3.8
6.2
7.0
8.2
1.9
5.1
6.2
7.3
1.8
4.4
5.4
6.1
3.1
5.0
6.9
7.4
3.7
6.4
6.8
8.3
2.9
6.0
6.4
7.9
2.7
4.9
5.8
7.3
3.7
5.7
6.4
7.9
3.9
5.6
6.9
8.3
2.7
6.1
6.9
7.6
8.5
9.6
9.2
14.0
8.5
9.6
9.6
13.3
8.5
9.6
9.4
14.0
8.0
9.0
9.0
14.6
7.4
7.8
8.6
14.5
7.8
8.6
8.8
14.3
8.0
8.5
9.2
14.2
8.1
8.8
9.4
15.3
6.5
8.3
8.4
13.9
7.3
9.0
8.6
13.2
7.5
8.8
8.7
13.5
7.0
8.8
8.9
14.9
Table 5. - PROFITS PER DOLLAR OF S A L E S ,
42
1947
All manufacturing corporations, except newspapers
Under $1 million
$
1 million to $
5 million
$
5 million to $ 100 million
$ 100 million and over
01
02
Q3
Q4
7,5
6.8
6.5
6.2
5.7
7.9
8.0
7.8
5.3
6.7
7.2
6.9
5.3
6.2
6.8
6.8
2.7
4.7
6.8
7.5
Ql
Q2
Q3
Q4
5.6
5.2
4.2
4.4
3.2
4.7
5.6
5.8
6.1
6.9
3.0
4.0
4.9
5.4
5.8
6.8
2.0
2.7
3.1
4.3
4.5
5.8
0.7
2.2
3.4
4.3
4.8
6.8
Ql
1955
03
<?2
5.1
5.5
5.4
5.6
1.7
2.7
3.4
f4.4
V.
2.1
3.2
4.1
5.0
2.7
3.2
4.0
5.0
1.0
2.8
~4.3
5.2
4.5
5.1
5.0
5.3
7.0
7.4
7.1
8.0
i m
All manufacturing corporations, except newspapers
Under $1 million
1 million to $
5
$
$
5 million to $
10
$
10 million to $
50
$
50 million to $ 100
$ 100 million and over.
million
million
million
million
. . . . . . . . .
Asset size
All manufacturing corporations, except newspapers
Under $1 million
$
1 million to
$
5 million to
$
10 million to
$
25 million to
$
50
$ 100
$ 250
$1,000
million
million
million
million
$
$
$
$
5
10
25
50
*.
million
million . . . . .
million
million
to $ 100 million . . . . .
to $ 250 million . . . . .
to $1,000 million
and over
r
Q4
BY ASSET S I Z E , AFTER TAXES (Cents)
1948
03
qi
7.2
Q2
7.0
4.0
6.0
7.1
8.7
4.7
5.8
7.1
8.1
43
1949
04
01
q2
Q3
q4
6.9
6.8
6.1
5.2
6.0
4.2
5.6
6.8
8.3
1.9
4.2
6.8
9.2
3.1
4.0
5.9
7.8
2.1
3.7
5.0
6.7
3.0
4.0
5.5
7.6
03
04
Q2
03
04
4.4
4.3
1952
1950
02
03
04
6.0
91
6.2
7.4
7.6
6.9
1.1
3.3
5.8
8.4
2.2
4.2
5.8
8.1
3.9
5.2
7.0
9.2
5.5
5.9
7.4
8.9
3.5
5.4
7.0
8.2
1953
01
4.2
02
4.2
4.3
4.4
Q1
4.3
2.0
2.6
3.5
4.0
4.2
5.8
2.6
2.6
3.4
4.0
4.0
5.6
2.6
2.8
3.4
4.0
4.1
5.7
1.0
2.5
3.8
4.2
4.5
6.3
1.9
3.0
4.1
4.2
4.1
5.5
2.8
2.9
3.8
4.4
4.1
5.4
Q1
02
Q3
Q4
Q1
5.3
5.5
4.9
5.2
2.2
3.4
4.3
4.8
2.8
3.3
4.3
5.1
2.8
3.5
4.2
4.8
5.4
4.9
6.4
8.9
5.6
5.0
6.5
9.1
5.5
4.3
5.6
7.9
T537
02
03
04
4.0
01
4.3
4.7
4.4
4.7
2.3
2.5
3.5
4.1
4.0
5.6
0.0
1.7
2.8
3.6
3.7
6.1
0.9
1.9
3.1
3.9
3.9
6.1
2.2
2.2
3.6
4.1
4.0
6.4
2.2
.2.1
3.3
3.9
3.9
6.1
0.5
1.9
3.1
4.2
4.4
7.2
02
Q3
Q4
Q1
Q2
5.1
5.0
4.7
4.4
3.4
3.8
4.4
4.9
1.2
2.9
3.9
4.9
1.8
3.0
3.4
4.4
2.2
3.1
4.0
4.5
2.2
2.9
4.0
4.3
0.4
1.7
3.0
3.9")
0.1
1.0
2.3
2.7
3.1
1.2
2.0
2.9
3.4
3.4
2.1
2.6
3.9
3.9
3.8
0.5
2.1
3.8
4.3
4.4
5.3
5.3
6.3
9.3
5.0
4.8
5.8
9.0
5.0
4.6
5.6
8.6
4.8
4.3
5.2
7.9
4.3
4.4
5.3
9.0
3.6
3.6
4.1
7.0
3.7
4.0
4.4
6.9
4.4
4.3
4.9
7.7
4.7
5.2
5.5
9.9
1956
1957
j
1958
Q3
04
Table 5. - PROFITS PER DOLLAR OF S A L E S ,
44
1959
Asset size
Q 1
manufacturing corporations, except newspapers
Q 2
Q 3
Q 4
4.7
5.5
4.6
4.5
1
5
10
25
million
million
million
million
to
to
to
to
5 million
10 million
25 million
50
1.3
2.3
2.9
3.8
4.2
2.4
3.0
4.1
4.8
4.9
2.5
3.1
4.0
4.4
4.5
0.7
2.1
3.1
4.3
4.3
$
50
$ 100
$ 250
$1,000
million
million
million
million
to $ 100 million
to $ 250 million
to $1,000 million
and over.
4.7
4.9
5.1
9.0
5.5
5.5
5.8
9.6
5.4
4.9
4.6
7.3
5.0
5.2
5.1
8.2
4.8
5.9
4.1
4.2
1.9
3.2
4.1
4.4
3.1
5.0
5.4
5.7
3.3
4.5
4.7
4.9
1.5
3.2
4.6
4.7
4.8
5.1
5.2
7.5
6.0
5.8
6.3
8.3
5.7
4.7
3.7
3.9
5.1
5.3
4.5
5.8
4.7
5.1
5.1
4.8
Under $5 million . . . .
$
5 million to $
10 million
$
10 million to $
25
$
25 million to $
50
1.7
2.5
3.4
3.9
2.3
3.1
4.0
4.1
2.3
3.6
4.0
4.2
1.1
3.1
3.9
3.9
$
$
$
4.6
4.7
5.0
5.0
5.2
5.3
-5.2
5.0
5.4
4.8
5.0
5.6
$
$
$
$
Under $5 million
$
5 million to
$
10 million to
$
25 million to
$
50
$ 100
$ 250
$1,000
million
million
million
million
$
$
$
$
. . . .
$
10
$
25
$
50
to $ 100 million
to $ 250
to $1,000 million
and over.
Nondurable goods industries
50 million to $ 100 million
100 million to $ 250 million
250 million to $1,000 million
BY ASSET S I Z E , AFTER TAXES (Cents)
45
1960
1961
1962
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
4.7
4.6
4.3
4.0
3.5
4.4
4 . 3
4 . 8
4.3
4.7
4.4
4.8
1.1
1.6
1.9
0.1
0.2
1.5
1.8
1.3
1.0
2.4
2.4
1.1
2.1
2 . 3
2.1
0.9
0.6
2.1
2.4
2.2
1.8
2.5
2.7
1.9
2.7
3.4
3.1
2.1
1.8
2.7
3.4
3.2
2.4
3.2
3.1
3.3
3.4
3.7
3.4
3.0
2.1
3.5
3.3
3.5
2.9
3.6
3.6
3.7
4 . 0
4.2
4.0
3.7
2.7
4 . 0
4 . 1
4.2
3.5
4 . 3
4.1
4.1
4 . 4
4 . 4
4.2
3.8
3.4
4.0
4 . 1
4.4
3.6
4.2
4.1
4.2
4 . 8
4.7
4.2
4.1
3.4
4.2
4.1
4.6
4.2
4.7
4.2
4.7
5.0
5.2
4.9
5.0
4.2
4.7
4 . 9
5.2
4 . 3
4.5
4.3
4.8
8.6
8.0
7.3
8.3
7.7
8.5
7.7
9.5
8.5
8.2
7.6
9.2
4.6
4.6
3.6
2.7
4.2
3.8
4.7
4.2
4 . 8
4.0
1.6
2.2
2.0
0.1
0.1
2.1
2.2
2.0
1.6
3.1
3.1
1.5
3.1
4 . 3
3.2
1.7
1.8
3.0
3.6
3.4
2.6
3.7
3.6
3.3
3.7
4.1
3.3
2.8
1.8
3.5
3.4
3.8
3.1
3.9
3.7
3.8
4 . 1
4 . 5
3.7
3.6
2 . 3
4.1
4 . 0
4.2
3.5
4.6
4 . 0
4 . 3
4 . 6
4 . 5
3.9
3.2
3.0
4 . 0
4 . 1
4 . 5
4.0
4.6
4.4
4 . 5
4 . 6
4 . 4
3.4
3.2
2.8
3.9
3.8
4 . 5
4.1
4 . 5
4.0
4.6
4 . 9
4 . 9
4.5
4.7
3.6
4.5
4.6
4 . 9
4 . 0
4.4
3.8
4 . 3
7.2
6.6
4.5
5.9
4.9
6.4
4 . 9
7.5
7.1
7.1
5.4
7.5
4.7
4.7
4 . 9
4.7
4.2
4.6
4 . 8
5.0
4.4
4.6
4.8
5.0
3.4
4.5
1.5
1.7
2.0
0.8
0.6
1.5
1.9
1.5
1.2
1.9
2.1
1.5
2.2
2 . 3
3.0
2.5
1.7
2 . 3
3.1
3.1
2.2
2.7
2.6
3.3
3 . 0
3.3
3.5
3.2
2 . 5
3.6
.3.3
3.2
2.7
3.2
3.6
3.5
3.9
3.9
4 . 3
3.9
3.0:
3.9
4.2
4.2
3.6
4.1
4.2
3.9
4 . 4
4 . 3
4.3
4.2
3.8
4 . 1
4 . 0
4 . 3
3.3
3.8
3.8
3.9
4 . 9
5.1
4.9
5.0
4 . 1
4.6
4 . 3
4.7
4 . 3
4.8
4.4
4.8
5.0
5.4
5.3
5.3
4.8
4.8
5.1
5.4
4.6
4.6
4.8
5.1
11.2
10.7
11.4
12.3
11.5
11.7
11.4
12.8
10.3
9.7
10.2
11.5
Table 7 . - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
46
1
EQUITY,
1947
Asset size
Q2
Q3
Q4
All manufacturing corporations, except newspapers
Ql
27.9
25.3
23.9
24.9
Under $1 million
$
1 million to $
5 million
$
5 million to $ 100 million . . . . ;
$ 100 million and over
32.5
38.7
31.3
21.0
30.2 30.1
32 .4 28.6
28.3 25.9
19.8 19.7
18.7
25.1
28.2
23.5
1951
All manufacturing corporations, except newspapers
Under $1 million
$
1 million to $
5
$
5 million to $
10
$
10 million to $
50
$
50 million to $ 100
$ 100 million and over.
million
million
million . . . . .
million . . . . .
. .
Q1
Q2
Q3
Q4
32.0
29.7
24.9
25.3
26.2
33.1
32.9
34.2
36.5
32.2
25.1
30.3
30.4
31.8
33.4
29.9
18.3
21.3
20.9
25.8
27.0
26.9
12.1
19.8
23.2
26.0
27.7
28.9
Q1
Q2
Q3
Q4
22.3
25.0
23.3
24.6
13.3
16.6
17.6
/l9.1
\
15.6
20.1
21.1
22.9
19.5
19.4
20.2
22.8
10.5
17.9
21.5
23.7
20.6 23.6
f
<26.0- 28.1
I
22.5
24.0
>
28.1
J
1955
All manufacturing corporations, except newspapers
Under $1 million
$
1 million to
$
5 million to
$
10 million to
$
25 million to
$
50
$ 100
$ 250
$1,000
million
million
million
million
$
$
$
$
5
10
25
50
million . . . . .
million
million . . . . .
million
to $ 100 million . . . . .
to $ 250 million
to $1,000 million
and over
25.0
BY ASSET S I Z E , BEFORE FEDERAL INCOME TAXES (Percent)
1948
47
1949
1950
03
Ql
02
03
04
Ql
Q2
Q3
Q4
01
02
26.7
25.2
25.1
25.0
20.6
17.0
18.9
18.0
19.4
24.8
31.0
35.5
23.9
27.8
27.0
26.8
25.8
26.3
26.9
23.6
23.2
25.1
25.5
25.1
12.4
19.7
26.1
27.8
16.4
17.1
20.1
22.4
12.1
15.1
16.1
18.8
15.5
15.8
17.0
21.4
7.7
13.8
17.6
20.8
12.1
17.0
18.4
21.7
19.7
21.6
23.8
27.0
29.4
28.7
31.0
31.8
25.2
32.9
36.9
36.7
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
23.6
22.0
20.7
22.2
24.9
26.4
23.3
15.8
18.5
19.8
17.5
18.3
1952
04
1954
1953
16.8
19.9
19.9
10.5
16.5
21.3
17.4
3.2
8.7
14.5
15.0
6.5
20.7
20.2
19.1
18.4
20.7
20.7
17.7
10.3
12.8
13.7
13.0
11.9
21.6
22.0
19.6
21.4
27.0
25.8
21.6
14.7
16.0
18.5
15.6
15.1
24.0
22.8
21.5
22.7
24.9
25.9
22.7
16.5
17.7
18.4
17.1
17.1
23.3
21.2
20.2
22.8
23.8
25.3
22.5
15.7
17.2
18.2
16.9
17.3
25.7
22.6
21.2
24.9
27.0
28.8
25.8
18.7
21.7
22.4
19.1
21.9
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
23.8
24.2
20.2
22.3
22.5
21.6
19.1
16.8
12.9
13.9
15.9
18.8
1956
1957
1958
18.3
22.8
23.8
12.9
15.6
19.3
19.6
6.7
5.5
11.4
16.5
7.8
21.4
21.5
21.4
18.9
18.8
19.7
18.7
12.2
8.9
13.0
16.8
13.7
22.2
22.5
21.3
19.5
18.0
21.0
19.7
14.8
11.8
14.0
17.8
17.2
22.6
24.5
22.5
23.3
21.1
21.4
19.7
16.81
12.3
14.6
16.9
18.6
J
12.3
13.5
15.3
17.9
23.4
24.2
23.0
22.5
22.0
21.4
20.7
17.5
14.2
14.8
17.9
19.0
24.1
2 4 . 5
19.9
24.1
22.6
22.0
20.1
19.1
15.0
16.7
18.0
21.3
2 5 . 4
25.7
20.3
23.9
22. t
21.2
19.4
17.7
13.9
15.2
17.7
19.7
25.9
24.4
16.6
24.0
27.3
23.1
17.7
19.3
14.3
12.3
12.3
21.4
1
Table 7 . - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
48
EQUITY,
1959
Asset size
Q 1
Q 2
Q 3
Q 4 #
All manufacturing corporations, except newspapers
18.7
23.1
17.1
16.8
Under $1 million . . .
1 million to $
5 million
$
$
5 million to $
10 million . . . . .
$
10 million to $
25 million
$
25 million to $
50 million
12.5
15.4
14.4
16.7
17.3
20.4
19.7
21.1
22.1
21.6
21.1
19.5
20.4
20.1
19.7
8.8
14.0
15.8
19.2
18.2
$
50
$ 100
$ 250
$1,000
18.5
20.7
18.5
21.7
23.3
25.0
23.2
24.5
22.1
20.7
16.0
12.1
19.5
21.1
17.1
15.9
20.8
27.7
15.8
16.9
10 million
25 million
50 million
13.6
14.2
16.9
15.7
20.4
23.7
23.4
23.4
20.7
20.5
19.1
19.3
11.7
14.9
18.9
18.4
to $ 100 million
to $ 250 million
to $1,000 million
and over
18.7
20.9
18.9
30.3
25.6
27.0
26.2
36.9
21.7
18.9
12.5
10.4
19.5
20.9
15.3
18.2
16.7
18.5
18.4
16.7
10 million
25 million . . . . .
50 million . . . . .
14.7
14.7
16.6
19.0
19.7
17.9
20.3
19.5
19.7
20.3
21.5
20.3
11.6
16.9
19.6
18.0
to $ 100 million . . . . .
to $ 250 million
to $1,000 million . . . . .
and over
18.3
20.5
18.1
14.6
21.2
23.1
20.3
14.1
22.4
22.5
19.4
13.6
19.4
21.3
18.8
13.9
million
million
million
million
to $ 100 million
to $ 250 million
to $1,000 million
and over
Durable goods industries.
Under $5 million
$
5 million to $
$
10 million to $
$
25 million to $
$
50
$ 100
$ 250
$1,000
million
million
million
million
Nondurable goods industries
Under $5 million
$
5 million to $
$
10 million to $
$
25 million to $
$
50
$ 100
$ 250
$1,000
million
million
million
million
BY ASSET S I Z E , BEFORE FEDERAL INCOME TAXES (Percent) 47
1960
1961
1962
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
18.4
18.0
15.4
14.8
12.6
16.8
15.8
18.5
16.7
18.9
16.7
18.1
11.7
15.2
16.7
5.0
6.3
13.7
15.8
12.5
10.6
19.8
19.8
10.8
14.1
15.6
14.1
8.2
7.5
15.0
16.7
15.8
14.3
18.4
18.8
13.9
14.3
17.9
15.6
11.0
9.8
14.2
17.2
16.5
13.4
17.4
16.7
17.2
15.8
17.1
15.7
13.1
10.2
15.6
15.4
16.4
13.8
17.1
16.8
17.0
17.0
18.1
16.5
14.9
10.9
16.1
16.7
17.1
14.8
18.3
17.4
17.3
18.1
18.4
16.7
15.3
13.6
16.9
16.8
18.2
15.1
18.1
17.1
16.8
20.2
19.4
16.7
15.5
12.8
16.7
16.4
18.0
16.7
19.3
17.4
18.5
17.7
17.8
16.9
16.5
14.5
17.3
17.4
18.4
16.0
17.5
15.9
17.0
21.9
19.0
13.3
17.4
14.4
18.0
13.6
21.4
20.1
20.2
15.6
21.5
20.6
19.7
13.9
14.1
11.0
17.8
15.0
20.3
18.2
21.3
16.5
19.2
12.3
15.3
13.3
4.8
5.8
14.0
14.6
14.4
12.6
19.6
19.3
12.0
i 4 . 9
20.7
14.3
8.2
8.3
13.9
16.4
16.1
13.3
18.1
16.8
16.0
15.5
16.8
13.6
11.0
7.9
13.8
13.5
16.0
13.2
17.2
15.6
15.8
16.6
18.7
14.5
13.7
9.2
15.5
14.8
16.0
13.7
18.2
15.5
16.4
17.8
17.8
14.5
12.7
11.1
16.1
15.7
18.1
15.2
18.5
16.5
16.9
19.6
17.8
13.2
12.4
10.0
14.8
14.5
16.9
16.2
19.1
16.0
17.9
17.8
16.7
15.7
15.2
12.2
17.4
17.0
18.3
15.7
17.9
14.7
15.9
30.9
26.0
13.0
21.0
14.7
23.8
14.1
29.2
26.7
28.0
16.9
27.7
16.2
16.4
16.9
15.4
14.1
15.8
16.5
16.8
15.3
16.5
16.8
17.0
13.9
15.7
17.7
9.2
8.4
14.8
18.4
14.3
12.7
18.4
19.2
13.0
13.6
14.2
17.2
14.6
11.6
14.6
18.0
17.1
13.5
16.7
16.6
18.8
16.1
17.4
18.6
16.0
13.3
18.1
18.0
16.9
14.8
17.0
18.4
18.7
17.6
17.4
18.9
16.3
12.8
16.8
18.9
18.3
16.1
18.5
19.4
18.4
18.5
18.8
18.6
17.5
15.9
17.7
17.7
18.3
15.0
17.6
17.7
16.7
20.9
21.2
20.7
19.0
15.9
18.9
18.6
19.2
17.4
19.4
19.0
19.1
17.7
18.7
18.0
17.5
16.4
17.2
17.8
18.5
16.4
17.1
16.9
18.0
13.9
12.7
13.5
14.3
14.1
13.3
13.2
15.0
15.1
14.1
14.5
16.6
Table 7. - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
50
All manufacturing corporations, except newspapers
Under $1 million
$
1 million to $
5 million
$
5 million to $ 100 million
$ 100 million and over
,. • .
Ql
Q2
Q3
Q4
17.0
15.5
14.7
15.2
19.2
18.1
18.2
9.6
23.4
19.4
17.1
14.2
18.8
17.1
15.7
17.1
13.1
12.4
12.5
15.2
1951
Asset size
All manufacturing corporations, except newspapers
Under $1 million
$
1 million to $
5
$
5 million to $
10
$
10 million to $
50
$
50 million to $ 100
$ 100 million and over
million
million
million
million
Ql
Q2
Q3
Q4
14.3
13.3
10.0
10.9
13.3
12.2
7.7
2.7
15.6
13.2
8.0
7.0
15.4
13.5
7.7
9.0
14.6
13.5
10.1
10.4
15.5
14.4
10.4
11.8
14.4
13.8
11.1
13.7
Ql
Q2
Q3
Q4
11.4
13.0
12.3
13.5
6.4
8.1
11.0
4 . 5
7.9
9.7
9.4
8.8
1955
Asset size
All manufacturing corporations, except newspapers
$
50
$ 100
$ 250
$1,000
million
million
million
million
$
$
$
$
EQUITY,
w
Asset size
Under $1 million
$
1 million to
$
5 million to
$
10 million to
$
25 million to
1
5
10
25
50
million . . . .
million . . . .
million . . . .
million . . . .
to $ 100 million
to $ 250 million
to $1,000 million
and over
.
.
.
.
. . . . .
. . . . .
. . . . .
8.0
10.3
9.7
10.9
^ 9 . 3
11.4
11.3
11.9
10.1
11.8
11.4
12.6
13.8
15.0
13.5
16.2
r
•J
BY ASSET SIZE, AFTER TAXES (Percent)
1958
1949
1950
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
16.6
15.9
15.8
15.7
12.7
10.5
11.8
11.6
12.0
15.6
17.5
16.5
13.6
16.1
14.3
6.4
9.4
6.2
8.9
3.4
6.3
11.9
18.8
12.5
16.5
16.0
15.1
11.6
9.8
8.7
9.2
8.1
10.0
13.1
16.5
16.0
16.5
16.6
15.7
16.1
12.2
9.7
10.5
11.2
11.2
14.6
17.2
17.4
17.3
15.3
16.4
18.1
14.2
12.1
13.7
13.8
13.7
17.3
17.8
16.6
Ql
Q2
10.1
10.0
7.5
7.9
8 . 5
1952
1953
1954
Q4
Ql
Q2
Q3
9.9
11.3
10.7
11.2
9.8
10.0
4.2
7.6
8.0
8.2
7.9
8.9
8 . 5
8.1
9.9
9.4
9.5
9.3
9.7
9.2
11.5
IliO
Ql
Q2
Q3
12.5
13.0
Q3
Q4
Ql
10.5
9.5
9.4
10.4
9.3
10.6
11.3
9.0
0.1
3.2
8.1
-.8.1
2.1
8.8
7.4
5.0
5.3
6.1
5.6
5.4
10.8
10.3
8.7
6.9
6.8
8.4
7.2
7.2
10.6
10.3
10.9
9.8
8.4
8.4
9.0
8.3
9.2
9.3
11.4
9.8
10.1
9.5
8.2
8.4
8.8
8.3
9.4
10.8
13.7
11.8
12.1
11.9
12.5
11.7
10.8
13.7
Q4
Ql
Q2
Q3
11.0
12.6
11.9
11.6
10.5
1956
Q2
Q3
12.3'
1957
Q4
1958
Q4
Ql
Q2
Q3
9.8
6.8
7.8
9.0
10.7
Q4
9.8
12.9
13.0
5.8
7.8
10.4
10.4
1.9
0.4
5.4
9.3
2.5
10.6
10.4
10.7
9.1
8.9
9.6
9.1
5.4
2.9
5.9
8.0
6.5
10.7
10.9
10.4
9.8
8.4
10.1
9.7
7.3
4 . 9
6.4
8.8
8.8
11.1
12.2
11.1
11.8
10.2
10.5
9.8
8.7V
5.6
7.2
8.4
9.6
5.9
6.6
7.5
9.2
/
11.8
12.3
11.6
11.8
11.1
11.1
10.4
9.2
7.2
7.6
9.2
10.2
11.5
12.1
9.9
13.0
11.2
11.0
10.0
10.1
7.4
8.5
9.2
11.5
13.2
13.6
10.9
13.6
11.8
11.3
10.3
10.3
7.4
8.3
9.5
11.1
14.9
14.9
11.1
15.9
16.0
14.0
11.8
13.7
9.5
8.8
9.1
14.2
Table 7. - ANNUAL RATES OF PROFIT ON STOCKHOLDERS
52
Q1
Q2
10.0
million
million
million
million
to $ 100 million
to $ 250 million
to $1,000 million
and over
Q3
Q4
12.4
9.6
9.6
5.7
7.0
6.8
8.1
8.5
11.7
10.0
10.5
11.1
10.8
12.4
9.8
10.1
10.1
9.8
3.3
6.6
7.8
9.9
9.5
9.5
10.5
9.9
12.9
12.0
13.0
12.2
14.3
11.4
10.6
8.8
8.6
10.4
11.4
9.9
10.7
10.2
14.0
8.3
9.0
5.8
6.8
8.1
7.7
10.7
12.0
11.8
11.8
11.0
10.2
9.6
9.6
5.1
7.1
9.7
9.6
9.4
10.7
9.8
14.8
13.2
13.8
13.5
18.0
11.4
9.8
6.7
5.7
10.4
11.5
8.6
10.1
. .
9.8
11.0
10.9
10.1
......
7.1
6.7
8.2
9.4
10.7
8.7
10.2
9.8
10.9
10.1
10.8
10.1
5.2
8.7
10.3
9.4
9.6
10.4
9.9
11.3
11.0
12.2
11.0
11.1
11.5
11.3
10.8
11.0
10.3
11.2
11.1
11.2
All manufacturing corporations, except newspapers
$
50
$ 100
$ 250
$1,000
$
$
$
million
million
million
million
$
$
$
$
5 million to $
10 million to $
25 million to $
$
50
$ 100
$ 250
$1,000
million
million
million
million
5
10
25
50
10 million
25 million
50 million
5 million to $
10 million to $
25 million to $
$
50
$ 100
$ 250
$1,000
million
million
million
million
. . . . .
to $ 100 million
to $ 250 million
to $1,000 million
and over
Nondurable goods industries
$
$
$
EQUITY,
1959
Asset size
Under $1 million
$
1 million to
$
5 million to
$
10 million to
$
25 million to
1
10 million
25 million
50 million
to $ 100 million
to $ 250 million
to $1,000 million
and over
. . . . .
. . . . .
BY ASSET S I Z E , AFTER TAXES (Percent)
53
I960
1961
1962
Ql
Q2
Q3
Q4
Ql
Q2
Q3
Q4
9.8
9.9
8.7
8.4
6.8
9.2
8.8
10.5
9.0
10.3
9.3
10.5
5.0
6.3
6.4
7.4
8.4
8.0
7.1
8.6
8.5
9.1
9.0
6.5
7.5
7.6
8.3
0.5
2.8
5.2
6.6
7.6
0.9
1.8
3.9
4.4
5.1
6.8
7.0
6.7
7.9
8.3
8.4
8.0
8.5
7.4
8.4
6.3
7.4
8.3
8.1
8.8
4.6
6.0
5.9
6.4
7.2
11.7
9.0
8.5
8.5
9.4
11.7
9.3
8.0
8.4
8.8
5.5
6.6
9.0
8.8
9.0
9.2
10.2
9.5
13.0
9.3
10.2
10.1
11.5
8.5
8.5
9.3
9.1
7.8
8.3
9.6
11.4
6.9
6.6
7.9
9.5
8.6
8.8
9.3
11.2
8.4
8.4
9.6
9.2
9.4
9.7
10.5
13.5
7.5
8.5
8.7
12.1
9.2
10.1
9.4
11.8
8.6
'.,8.8
8.7
9.9
9.0
10.2
9.8
13.8
10.0
10.1
7.1
7.0
5.2
8.9
7.8
10.4
8.9
10.9
8.5
10.2
5.0
6.6
7.4
8.0
7.1
10.3
8.4
9.2
6.2
6.8
6.4
7.2
0.2
3.5
5.3
6.9
0.4
3.4
3.2
4.0
6.7
6.5
6.8
7.8
7.0
8.2
6.5
7.4
6.6
7.8
7.8
8.2
5.2
5.7
6.1
6.5
10.6
9.0
8.4
9.3
10.3
8.4
7.7
7.9
5.2
7.9
8.1
8.6
8.8
9.9
9.4
15.1
9.1
9.3
9.7
13.0
7.4
6.8
8.4
7.1
6.1
6.4
8.7
10.8
5.4
5.1
6.6
7.6
8.0
7.7
9.2
11.6
7.8
7.5
9.2
7.4
9.2
9.2
10.3
14.5
7.4
8.1
8.5
13.2
9.3
9.8
9.7
13.6
8.4
8.2
7.9
8.5
8.8
9.9
9.1
15.0
9.6
9.8
10.2
9.8
8.5
9.6
9.9
10.6
9.1
9.8
10.0
10.8
6.7
6.0
7.5
8.7
8.0
6.4
8.6
9.0
9.4
8.4
9.2
9.8
3.7
7.3
8.3
8.6
2.7
4.6
6.0
6.3
7.2
6.7
9.4
8.8
9.6
8.9
8.8
9.5
7.3
8.9
8.6
9.6
5.6
6.0
6.9
7.9
9.7
7.9
8.6
9.5
10.5
7.6
9.5
9.9
7.1
10.3
9.6
9.4
9.5
10.6
9.6
11.1
9.5
11.2
10.4
10.2
9.5
10.5
10.1
10.9
9.2
10.4
10.4
12.0
8.2
8.3
9.1
11.1
9.2
10.0
9.4
10.9
9.0
9.4
9.9
10.7
9.7
10.2
10.7
12.6
7.5
9.0
8.9
11.2
9.2
10.4
9.2
10.4
8.9
9.5
9.3
11.0
9.2
10.5
10.5
12.8
Ql
Q2
Q3
Q4
54
DEFINITIONS OF THE INDUSTRY GROUPS
DURABLE GOODS INDUSTRIES
Metals arid metal fabricating industries
Transportation equipment — includes corporations primarily
engaged in manufacturing equipment for transportation of passengers
and cargo by land, a i r , and w a t e r . Consists of motor vehicles and
equipment (see the next paragraph below); aircraft and parts (see the
second paragraph following); ship and boat building and repair; railroad equipment, including street cars; and transportation equipment,
not elsewhere classified.
Motor vehicles and equipment — includes corporations
primarily engaged in manufacturing or assembling complete
passenger automobiles, trucks, commercial cars and busses
(except trackless trolleys), and special purpose motor
vehicles; or in manufacturing passenger car bodies, truck
and bus bodies, truck trailers and triick trailer chassis,
and motor vehicle parts and accessories.
Aircraft and parts — includes corporations primarily
engaged in manufacturing or assembling complete aircraft
and complete guided missiles and space vehicles; or in
manufacturing aircraft engines and engine parts, aircraft
propellers and propeller p a r t s , aircraft parts and
auxiliary equipment, not elsewhere classified, and guided
missile and space vehicle subassemblies.
Electrical machinery, equipment, and supplies -- includes corporations primarily engaged in manufacturing machinery, apparatus, and
supplies for the generation, storage, transmission, transformation,
and utilization of electrical energy. Consists of electrical transmission and distribution equipment; electrical industrial apparatus;
household appliances; radio and television receiving sets; communication equipment; electronic components and accessories; electric lighting and wiring equipment, except insulated wire; and electrical machine r y , equipment, and supplies, not elsewhere classified.
Machinery, except electrical — includes corporations primarily
engaged in manufacturing machinery and equipment, other than electrical equipment (see the preceding paragraph above) and transportation equipment (see the second, third, and fourth preceding paragraphs
above). Consists of engines and turbines; farm machinery and equipment; construction, m i n i n g , and materials handling machinery and equipment; metalworking machinery and equipment (see the next paragraph
below); special industry machinery and equipment; general industrial
machinery and equipment; office, computing, and accounting machines;
55
service industry machines; and miscellaneous machinery, except electrical.
Metalworking machinery and equipment -- includes corporations primarily engaged in manufacturing machine tools,
either metal cutting or metal forming types, and other
metalworking machinery; special dies and tools, die sets,
jigs and fixtures; and machine tool accessories and
measuring devices.
Other fabricated metal products -- includes corporations primarily
engaged in fabricating ferrous and nonferrous metal products such as
metal cans; cutlery, hand tools, and general hardware; heating apparatus (except electric) and plumbing fixtures; fabricated structural
metal products; screw machine products, and bolts, nuts, screws,
rivets, and washers; metal stampings; metal coating and engraving;
fabricated wire products; and miscellaneous fabricated metal products.
Primary metal industries — includes corporations primarily
engaged in the smelting and refining of ferrous and nonferrous metals
from ore, pig, or scrap; in the rolling, drawing, and alloying of
ferrous and nonferrous metals; in the manufacture of castings, forgings, and other basic products of ferrous and nonferrous metals; and
in the manufacture of nails, spikes, and insulated wire and cable.
Blast furnaces (including coke ovens), steel works, and rolling and
finishing mills, iron and steel foundries, and iron and steel forgings
are included in the Blast furnaces, steel works„ and foundries category. Primary and secondary smelting, refining, rolling, drawing, and
alloying of nonferrous metals, nonferrous foundries, and nonferrous
forgings are included in the Nonferrous metals category.
Other durable goods industries
Lumber and wood products, except furniture -- includes corporations primarily engaged as logging camps and logging contractors or
as sawmills and planing mills; or primarily engaged in manufacturing
millwork, veneers, plywood, and prefabricated structural products,
and miscellaneous wood products, except furniture.
Furniture and fixtures — includes corporations primarily engaged in manufacturing household, office, public building, and
restaurant furniture; and office and store fixtures.
Stone, clay, and glass products -- includes corporations primarily engaged in manufacturing products from materials taken principally from the earth in the form of stone, clay, and sand. Consists
of glass and glass products; hydraulic cement; structural clay products; pottery and related products; ready mixed concrete; concrete,
gypsum, and plaster products; and miscellaneous nonmetallic mineral
products.
56
Instruments and related products — includes corporations primarily engaged in manufacturing scientific and mechanical measuring
instruments; optical instruments and lenses, and ophthalmic goods;
surgical, medical, and dental instruments and supplies; photographic
equipment and supplies; and watches and clocks.
Miscellaneous manufacturing, and ordnance — includes corporations primarily engaged in manufacturing jewelry and silverware;
toys and sporting goods; ordnance, except guided missiles; costume
jewelry;1 musical instruments; pens, pencils, and other office and
artists materials; and manufacturing industries, not elsewhere
classified.
NONDURABLE GOODS INDUSTRIES
Chemicals; petroleum; rubber and plastics
Chemicals and allied products — includes corporations primarily
engaged in producing basic chemicals or manufacturing products by
predominantly chemical processes. Consists of basic chemicals and
related products (see the next paragraph below); drugs (see the second
paragraph following); soap and related products; perfumes, cosmetics,
and other toilet preparations; paints and allied products; gum and
wood chemicals; printing ink; fertilizers and other agricultural
chemicals; ^and miscellaneous chemical products.
Basic chemicals and related products -- includes corporations primarily engaged in manufacturing basic industrial
inorganic and organic chemicals; and plastics materials
and synthetic resins, rubber, and man-made fiber, except
glass.
Drugs — includes corporations primarily engaged in
manufacturing, fabricating, or processing medicinal
chemicals and pharmaceutical products; and in the
grading, grinding, and milling of botanicals.
Petroleum refining and related industries — includes corporations primarily engaged in petroleum refining (see the next paragraph
below) and miscellaneous petroleum and coal products (paving mixtures
and blocks, asphalt felts and coatings, lubricating oils and greases,
and products of petroleum and coal, not elsewhere classified) .
Petroleum refining — includes corporations primarily
engaged in petroleum refining, without extraction, or
integrated petroleum refining and extraction.
Rubber and miscellaneous plastics products — includes corporations primarily engaged in manufacturing from natural, synthetic,
or reclaimed rubber, gutta percha, balata, or gutta siak, rubber
57
roducts such as tires, rubber footwear, mechanical rubber goods, heels
nd soles, flooring, and rubber sundries; and in molding primary
lastics for the trade, and manufacturing miscellaneous finished
lastics products.
Other nondurable goods industries
Food and kindred products -- includes corporations primarily
ngaged in manufacturing meat products; dairy products (see the next
aragraph below); canned and frozen foods; grain mill products; bakery
roducts (see the second paragraph following); sugar, confectionery
nd related products; alcoholic beverages (see the third paragraph
ollowing); bottled soft drinks and flavorings; vegetable and animal
>ils; and food and kindred products, not elsewhere classified.
Dairy products — includes corporations primarily engaged
in manufacturing creamery butter, natural cheese, condensed and evaporated milk, ice cream and frozen desserts,
and special dairy products such as processed cheese and
malted milk; and in processing (pasteurizing, homogenizing, vitaminizing, bottling) fluid milk and cream for
wholesale or retail distribution.
Bakery products
includes corporations primarily engaged in manufacturing bread, cakes, and other "perishable"
bakery products; and in producing "dry" bakery products
such as biscuit, crackers, and pretzels.
Alcoholic beverages — includes corporations primarily
engaged in manufacturing malt liquors and malt; wines,
brandy, and brandy spirits; and distilled, rectified,
and blended liquors.
Tobacco manufactures -- includes corporations primarily engaged
n manufacturing cigarettes; cigars; and tobacco manufactures, not
lsewhere classified.
Textile mill products -- includes corporations primarily engaged
ti broad woven fabric mills and finishing (cotton, man-made fiber and
ilk, and wool) and as knitting mills; or in the manufacture of carets and rugs (woven, tufted, and braided), yarn and thread, wool
arn (including carpet and rug yarn), narrow fabrics, and textile
111 products, not elsewhere classified.
Apparel and other fabricated textile products -- is known as the
ltting-up and needle trades and includes corporations primarily
ig&ged iti producing clothing and fabricated products by cutting and
iwing purchased woven or knit textile fabrics and related materials
ich as leather, rubberized fabrics, plastics and furs. Consists of
58
1
men's and boys clothing; women's, children's, and infants clothing;
millinery and fur goods; apparel and accessories, not elsewhere
classified; and miscellaneous fabricated textile products.
Paper and allied products -- includes corporations primarily
engaged in the manufacture of pulps from wood and other cellulose
fibers, and rags; the manufacture of paper and paperboard; and the
manufacture of paper and paperboard into converted products such as
paper coated off the paper machine, paper bags, paper boxes, and
envelopes. Consists of pulp mills; paper and paperboard mills;
building paper and building board mills; converted paper and paperboard products; and paperboard boxes and other containers.
Printing and publishing, except newspapers -- includes corporations primarily engaged in printing by one or more of the common
processes, such as letterpress, lithography, gravure, or screen; and
those corporations which perform services for the printing trade,
such as bookbinding, typesetting, engraving, photoengraving, and
electrotyping. Consists of periodicals; books; miscellaneous publishing; commercial printing and lithography; manifold business forms;
greeting cards; and bookbinding and printing trade services. Excludes
newspapers.
Leather and leather products -- includes corporations primarily
engaged in tanning, currying, and finishing hides and skins, and
corporations manufacturing finished leather and artificial leather
products and some similar products made of other materials. Leather
converters are also included. Consists of leather tanning and finishing; footwear (except rubber); and leather and leather products, not
elsewhere classified.
/FACSIMILE OF THE QUARTERLY FINANCIAL REPORT FORM7
Form Approved
Budget Bureau No. 56-R004.12
FTC Form
F E D E R A L T R A D E COMMISSION
DIVISION O F F I N A N C I A L S T A T I S T I C S
W A S H I N G T O N 2 5 , D. C.
THIS REPORT IS REQUIRED BY LAW under authority of the Federal Trade Commission Act. It will not be made
public. It will be used only in combination with reports from many other corporations to estimate national totals by
corporate size and industry.
WITHIN 25 DAYS OR LESS after the end of the period for which this report is requested, complete and return one
copy in the enclosed envelope.
THIS REPORT IS FOR YOUR 3-MONTH PERIOD which ended within the
If your annual closing date is in—
You should report /or—
March, June, September, or December
February, May, August, or November
January, April, July, or October
your 3-month period* which ended in
your 3-month period* which ended in
your 3-month period* which ended in
* Companies on a 13-period year should submit a 16-week report for the third quarter of their fiscal year and 12-week reports
for the other quarters.
CONSOLIDATE operations of all subsidiaries which are taxable under the United States Internal Revenue Code and
were fully consolidated in your latest report to stockholders. (Report to stockholders includes independent audit or company-prepared report, either annual or interim, presenting a consolidation of parent and one or more subsidiaries both
as to income statement and balance sheet.)
AUDITED FIGURES ARE NOT REQUIRED. Estimates may be used wherever necessary.
figures to thousands. If rounding is used, enter zeros for the last three digits.
You may round all dollar
(Please correct if name or address has changed.)
1. The person to contact regarding this report is
(Print name, title, and office telephone number)
2. This corporation's annual closing date is
3. This corporation (check one):
• is active.
• discontinued business on
(Month and day)
(In all correspondence, refer to number at right of address.)
(Date)
4. This corporation (check one):
• is not a subsidiary of another corporation.
• is a subsidiary of
(Name and mailing address of parent corporation)
5. This corporation (check one):
• has no subsidiary corporations.
• has
domestic and
(Number)
(Number)
foreign sub-
sidiary corporations. (Explain in space at right any
change from previous report, including name, state
and date of incorporation of each subsidiary involved.)
6. This report is (check one):
• for a single corporation.
• consolidated for parent and
corporations.
(Number)
subsidiary
60
FACSIMILE OF THE QUARTERLY FINANCIAL REPORT FORM7
AUDITED FIGURES ARE NOT REQUIRED. Estimates may be used wherever necessary.
to thousands.
If rounding is used, enter zeros for the last three digits.
SCHEDULE A.
from
1.
2.
3.
4.
You may round
all dollar
Condensed statement of income and surplus for your 3-MONTH PERIOD
19
to
-, 19
, inclusive.
jc £
>» w
-
©
Is
CO 1)
Net profit
before
Deduct:
Provision
forFederal
Federalincome
incometaxes
taxes (reflect credit in item 23)
Net profit (or loss) for quarter
Add: Earned surplus and surplus reserves at close of preceding quarter
Deduct:
Cash dividends charged to surplus in current quarter
Other direct charges or credits to surplus (net)
Earned surplus and surplus reserves at end of quarter (to agree with item 30)
12.
Amount of depreciation, depletion, and amortization included in items 2 and 4 above
SCHEDULE B. Condensed balance sheet as of
(The date of this schedule should be the same as the ending date of Schedule
S*
S>»
$
^
8,i5
5.
6.
7.
8.
9.
10.
11.
—
4J ">
gu
§ S*
(Omi'f cents)
Sales (net of returns, allowances, and discounts)
Deduct: Costs and expenses (net of purchase discounts), including selling, general, and administrative
expenses
Net profit from operations
Other income or deductions (net)
—
figures
-
£u
»
~ 0
w.j?
®
$
&
$
•§S£<5
-
u
0
—
w
» 19
A above.)
Assets
13.
14.
15a.
b.
16.
Cash on hand and in bank
U.S. Government securities, including tax anticipation bills (do not net against taxes)
Receivables from U.S. Government, excluding tax credits
Other notes and accounts receivable (net)
Inventories
17.
18a.
b.
19.
20.
Other current assets
Property, plant, and equipment
$
Deduct: Reserve for depreciation and depletion
Other noncurrent assets, including cash value of life insurance
Total assets
Liabilities and Stockholders' Equity
21.
22a.
b.
23.
24.
Short-term loans from banks (original maturity of 1 year or less)
Advances and prepayments by U.S. Government
Trade accounts and notes payable
Federal income taxes accrued (prior and current years)
Installments, due in J year or less, on long-term debt f (a) Loans from banks.
(Classify noncurrent
portion of debt in item 26.) \ ( 6 ) Other long-term debt
Other current liabilities, including excise taxes and accrued expenses
•
f ( a ) Loans from banks
Long-term debt due in more than 1 year <
. _ t
, ,
I (b) Other long-term debt
25.
26.
27.
28.
29.
30.
31.
Other noncurrent liabilities, including deferred Federal income taxes
Reserves not reflected elsewhere
Capital stock, capital surplus, and minority interest (net of treasury-stock)
Earned surplus and surplus reserves
Total liabilities and stockholders* equity
(T) List and explain, below or on a separate sheet, principal debits
and credits
( 2 ) List amount of progress payments deducted from items 15a, 16, and 17.
8
3 M
S .5
c o
TJ 4>
cr
$
-
® —
-
6 |
—
* o
J5 S
©
is
®
•§ v
g* c
—
jJJ
— S'g
g £
$
$
-
-
-
u
£1 §
c
©
reflected during the quarter in items 4, 10, and 28.
_ _
$
S
^o
u*r
2jr £v
8-p
, "S
' <M~ C
£,
jj i
3
a ££
VXI
8 =S
/FACSIMILE OF THE NATURE OF BUSINESS REPORT FORM7
THIS NATURE OF BUSINESS REPORT IS REQUIRED BY LAW
under authority of the Federal Trade Commission Act. It
will not be made public.
COMPLETE EACH ITEM 1 THROUGH 10. Omissions and inconsistencies will result in correspondence which is both costly
and time consuming.
W I T H I N 7 DAYS, complete and return one copy to:
61
Form Approved
Budget Bureau No. 56-R016.7
FTC Form NB
FEDERAL TRADE C O M M I S S I O N
Division of Financial Statistics
W a s h i n g t o n 2 5 , D.C.
IN REPLY to items 1 through 4, consolidate the operations of
every subsidiary which is taxable under the U.S. Internal
Revenue Code and was fully consolidated both as to income
statement and balance sheet in your latest report to stockholders. (Report to stockholders includes independent audit
or company-prepared report, either annual or interim.)
Operations of all other subsidiaries should be excluded from
items 1 through 4.
1. For its latest accounting year ended
the reporting company's:
(Month, day, year)
a. Total assets were
b. Total gross receipts were
$
$
(Please correct if name or address has changed.)
(In all correspondence, refer to number at right of address.)
2. Specify the particular type of operation which most clearly describes the primary business activity of this company (for
example: book publisher, contractor of women's house dresses, manufacturer of machine tool accessories, etc.):
3. Total gross receipts reported in item lb above were.derived from (list all sources below):
Source of Gross Receipts
Estimated
Percent of
Gross Receipts
List products made, processed, or assembled by this company with its own facilities {include contract work done for
others on their materials):
a.
b.
c.
d.
e.
f.
Materials Used
Principal raw materials used in production
(indicate form in which purchased):
%
%
%
%
%
List products made, processed, or assembled for this company by others (from materials owned by this company):
h
Materials from which products were made:
%
%
i
<%•
List products bought and resold without further processing
or assembling by this company:
V
1
%
%
X
X
X
%
%
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
%
X
X
X
X
X
X
X
X
X
J*
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
List all other sources of income:
m
n.
TOTAL GROSS RECEIPTS
100
X
X
X
X
4. T h e primary processes performed by or for this company in making the products listed on lines 3(a) through 3(j) above
were:
_ _
"
OVER
62
/FACSIMILE OF THE NATURE OF BUSINESS REPORT FORM/
The replies to items 5 through 9 should reflect the PRESENT status of your company as of .
5. T h e reporting company
(Today's date)
f Exact corporate title)
is a corporation chartered o n .
(State or, if foreign, country)
(Date)
6. T h e reporting company (check and complete where
• is not a subsidiary of another corporation.
• is a subsidiary of
applicable):
(Name of parent corporation)
(Mailing address of parent corporation)
7. T h e reporting company (check and complete where applicable):
• has no subsidiary corporations, domestic or foreign.
• has the following subsidiary corporations, domestic or foreign:
(b) Incorporated
(a) Name (exact corporate title)
and mailing address of each subsidiary
(note after its name if it is inactive)
(c) Its operations were
fully consolidated in
reporting company's
reply to
item 1
in {State
or country)
(Date)
latest
report to
stockholders *
{yes or no)
* Fully consolidated report to stockholders includes independent audit or company-prepared report, either annual or interim, presenting a consolidation of
parent and one or more subsidiaries both as to income statement and balance sheet.
8. Since J u n e 30. I960, the reporting company (check and complete where
• has been operated without change in its corporate structure.
Q was organized as a completely new business.
• was formed as a successor on
to
•
(Date)
•
was succeeded on
Q sold its assets on
(Date)
-
(Name and mailing address of successor company)
to
;
(Name and mailing address of purchasing company)
•
was merged on
•
discontinued business on
•
was legally dissolved on
•
made other changes in corporate structure (specify):
(Date)
(Name and mailing address of previously existing business)
by
(Date)
into
• ' •
applicable):
_
(Name and mailing address of continuing company)
(Date)
(Date)
•
:
9. T h e reporting company, itself, or as a subsidiary of another company (check one):
• is
I required to file an annual (Form 1 0 - K ) or quarterly (Form R - l ) financial
• is not I report with the Securities and Exchange Commission, Washington 25, D.G.
10. T h e person to contact regarding this report is
(Print name, title, and (jffice telephone number)
•
63
EXPLANATORY NOTES
Responsibility, The Federal Trade Commission and the Securities
and Exchange Commission have been jointly responsible since 1947 for
summarizing for each calendar quarter uniform, confidential financial
statements collected from a probability sample of all enterprises
classified as manufacturers, except newspapers, which are required to
file U.S. Corporation Income Tax Form 1120. These quarterly summaries
are prepared jointly by the Division of Financial Statistics in the
Federal Trade Commission and the Branch of Economic Research in the
Securities and Exchange Commission. They are scheduled to be mailed
to subscribers approximately 75 days after the end of the first,
second, and third calendar quarters, respectively, and approximately
95 days after the end of the fourth calendar quarter.
Purpose. The purpose of this sample survey is to produce, each
calendar quarter, an income statement and balance sheet for all manufacturing corporations, classified by both industry and asset size.
(Corporations account for more than 96 percent of total receipts from
all manufacturing activity in the United States; more than one-fourth of
the national income originates in corporate manufacturing; manufacturing
corporations account for more than half of all corporate profits.)
The quarterly summaries are used by various agencies in the executive
and legislative branches of the Federal government to analyze current
business conditions, evaluate the current financial position of small
business, estimate net income in national income statistics, estimate
current tax liability and future tax receipts, and determine current
monetary and credit policy. The quarterly summaries are also used by
thousands of nongovernment subscribers to measure efficiency and
appraise costs by comparing a company's operating results with the
average performance of companies of similar size or in the same line
of business, to determine whether to undertake new ventures by comparing the profitability of various types of business activity, and
as a guide to the relative movement of sales and profits in order to
reduce controversies in wage negotiations.
Comparisons with other statistics. The FTC-SEC quarterly financial estimates will not necessarily agree with other statistical compilations, whether based on a sample or complete canvass, for the
following reasons:
(1) The FTC-SEC quarterly financial estimates represent the aggregate of all enterprises classified as manufacturers, except newspapers, which are required to file U.S. Corporation Income Tax Form
1120. Each enterprise classified as a manufacturer which filed a
U.S. Corporation Income Tax Form 1120 in a given fiscal
year or filed
1
an application for a Federal Social Security Employer s Identification
Number in a given calendar quarter has a known probability of being
64
drawn in the FTC-SEC quarterly financial reporting sample. In computing the quarterly financial estimates, therefore, each corporation in
the FTC-SEC sample is given its proper weight. Moreover, the composition of the sample changes each quarter so as to reflect the effect
of all corporate births, deaths, acquisitions, spin-offs, mergers, consolidations, and the like. In addition, one-eighth of the FTC sample
segment is replaced each quarter. The FTC-SEC quarterly financial
estimates, therefore, may differ significantly from estimates based on
the sums of reports for identical groups of companies.
(2) The consolidated enterprise concept is used in the FTC-SEC
quarterly financial estimates. This concept eliminates the multiple
counting of all interplant and other intra-company transfers included
in establishment statistics and, to the fullest extent possible, eliminates the multiple counting of all intercorporate transfers included
in statistics based on unconsolidated or partly consolidated reports
from multicorporate enterprises.
(3) The conventional accounting concept of profits is used in the
FTC-SEC quarterly financial estimates. This differs from the national
income concept of profits used in other estimates. In the national
income concept, capital gains and dividends received by corporations
are deducted from profits, capital losses and depletion charges are
added to profits, and adjustments are made for international flows
affecting profits.
(4) The FTC-SEC estimates by industry are based on the latest
edition of the SIC (Standard Industrial Classification). They differ
from estimates based on an industry classification system that does
not conform with the SIC.
(5) The FTC-SEC estimates by size are based on the total assets
of the consolidated corporate enterprise. They differ from estimates
based on other criteria, such as sales or number of employees, and from
estimates based on other reporting units, such as the establishment or
the unconsolidated or partly consolidated multicorporate enterprise.
(6) The FTC-SEC estimates are based on quarterly financial statements which, aggregated for any four consecutive quarters, differ from
similar aggregations of annual financial statements because of existing differences in accounting years, particularly among the larger
corporations.
Current sampling method. The sampling method used is essentially
an optimum allocation (that is, the greatest statistical precision obtainable with a given amount of funds). In terms of number of corporations, the current sample accounts for approximately seven percent of
the composite frame while, in terms of total assets, the current sample
accounts for approximately 87 percent of the composite frame. (See
page 70, Table 9.)
65
The first part of the composite frame from which the sample for
any particular quarter is drawn consists of the Internal Revenue Service
sample of U.S. Corporation Income Tax Forms 1120 filed for a given taxable year by all enterprises classified as manufacturers, except newspapers. The second part of the frame consists of all applications for
a Federal Social Security Employer's Identification Number filed by
manufacturing corporations, since the end of the year covered by the
income tax returns, with the Bureau of Old-Age and Survivors Insurance.
A subsample is drawn each year from the first part of the frame, onefourth of which is introduced each quarter, replacing a comparable part
introduced eight quarters earlier. A sample is drawn and introduced
each quarter from the second part of the frame, replacing a comparable
part introduced eight quarters earlier. In processing the composite
list of sample companies, proper screening techniques are used to insure
that the two parts of the frame are mutually exclusive.
The sample from the income tax returns is drawn in .two stages. In
the first stage of the sampling, carried out by the Internal Revenue
Service for its own purposes, stratification by total assets is employed.
In the second stage, carried out by the Federal Trade Commission, stratification by both industry and total assets is used. The sampling fractions, applied to the cross-classifications defined by asset size and
industry, range from one-out-of-sixty to one-out-of-one.
In the
sampling of applications for a Federal Social Security
f
Employer s Identification Number, the criteria for stratification are
number of employees, industry, and quarter in which application is
made. The sampling fractions, applied to the cross-classifications
defined by number of employees, industry, and quarter in which application is made, also^ range from one-out-of-sixty to one-out-of-one.
In sampling each of the two parts of the frame, sampling within
strata is systematic.
Comparison with past sampling methods. The first sample in this
survey was drawn from U.S. Corporation Income Tax Forms 1120 for the
taxable year 1943. A second sample was drawn from U.S. Corporation
Income Tax Forms 1120 for the taxable year 1949. The third (current)
sample was drawn from U.S. Corporation Income Tax Forms 1120 for the
taxable year 1954 and each taxable year thereafter. Each sample has
been supplemented by a quarterly sample of applications for a Federal
Social Security Employer's Identification Number filed with the
Bureau of Old-Age and Survivors Insurance.
The second and third samples were drawn in order to redistribute
the reporting responsibility among the smallest corporations and because the older the sample, the less representative it is of the current population. The third (current) sample meets both requirements
66
to the fullest extent permitted by known sampling methodology, consistent with a minimal budgetary allocation: (1) to maintain current
representation in each industry and asset size as effectively as
possible, a sample is drawn each year for replacement purposes and
(2) to redistribute the reporting responsibility as equitably as
possible among the smallest corporations, one-eighth of the FTC sample
segment is replaced each quarter.
The first sample was used to provide estimates for each of the
quarters in calendar years 1947 to 1951, inclusive; the second sample,
from third quarter 1951 to second quarter 1956, inclusive; the third
(current) sample, from second quarter 1956 to date. To splice the
estimates based upon the first and second samples, an overlap was
provided for third quarter 1951 and fourth quarter 1951. To splice
the estimates based upon the second and third samples, an overlap was
provided for second quarter 1956. Within the third (current) sample,
an overlap was provided for each quarter in calendar year 1958 to
splice the estimates based upon the 1945 and 1957 editions of the
Standard Industrial Classification (see the "Industry classification"
section below).
Industry classification. After a corporation has been introduced
into the sample, its industry is classified according to the latest information at hand. Unless in the interim it is deleted from the sample
or there is a change in the corporate structure of the reporting enterprise, the corporation remains in the same industry category for eight
quarters, at which time its classification is reviewed on the basis
of the latest information at hand. Where there is a change in the
corporate structure of the reporting enterprise, the industry classification is reviewed to take into account the effect of the change.
In the reports for first quarter 1947 to fourth quarter 1958,
inclusive, estimates were based on the 1945 edition of the SIC
(Standard Industrial Classification). Beginning with the first quarter
1959 report, estimates are based on the 1957 edition of the SIC. The
first quarter 1959 report contains estimates for each quarter in 1958
revised according to the 1957 edition of the SIC so as to provide a
four-quarter overlap in the estimates.
Size classification. After a corporation has been introduced
into the sample, its size is classified according to its total assets
at the end of the quarter for which it first submits a quarterly financial statement. Unless it is deleted from the sample in the interim,
the corporation remains in the same asset size category until the first
quarter of the following calendar year, at which time it is classified
according to its total assets as at the end of that quarter. (Where
there is a change in the corporate structure of the reporting enterprise, the new reporting enterprise is classified according to its
67
total assets at the end of the quarter in which the change has occurred.)
Changes in the classification of corporate enterprises by asset size,
therefore, contribute to the differences between estimates of the fourth
quarter closing surplus and the following first quarter opening surplus
for each asset size (see "Precision of the estimates" section below).
Composition of the sample. The sample consists of (1) approximately two percent of all manufacturing corporations with total assets
under $1 million, (2) approximately 25 percent of all manufacturing
corporations with total assets of $1 million to $5 million, and (3) all
manufacturing corporations with total assets of $5 million and over.
The Securities and Exchange Commission collects quarterly financial
statements from corporations classified as manufacturers which are
required to file annual financial reports with the SEC. The Federal
Trade Commission collects quarterly financial statements from all other
manufacturing corporations in the sample. (See page 70, Table 9.)
Precision of the estimates. More than 2,700 aggregates are estimated each quarter (and an approximately equal number of ratios calculated each quarter). Each estimated aggregate has its own standard
deviation which indicates the difference that can be expected, due to
sampling, between the estimated aggregate and a comparable total based
on a complete canvass^. Each estimated aggregate will differ from a
comparable total based on a complete canvass by less than one standard
deviation approximately 68 times out.of 100, by less than two standard
deviations approximately 95 times out of 100, and by less than two and
one-half standard deviations approximately 99 times out of 100. The
sample is designed so that one standard deviation of the estimate for
the item "Net profit before Federal income taxes" for all manufacturing
corporations amounts to less than one percent of that estimated aggregate. For most of the industry groups, one standard deviation of the
estimate for this item amounts to less than five percent of the estimated aggregate.
Each report form received is reviewed b y accountants and, where
variations from conventional accounting are encountered, adjustments
are made after communicating with company officials. In the review,
the surplus reported in the balance sheet must be the same as the
closing surplus reported in the income statement, the closing surplus
must reconcile with the opening surplus for the quarter, and the opening surplus for the quarter must be the same as the closing surplus
for the preceding quarter. Since corporations are added to and deleted
from the sample each quarter, however, estimates of the opening surplus
for the quarter are usually not identical to the estimates of the closing surplus for the preceding quarter. This is so because corporations
are added to the sample with an opening surplus which was not reflected
in the estimates of the closing surplus for the preceding quarter,
while corporations are deleted from the sample with a closing surplus
68
which is not reflected in the opening surplus for the quarter following;
in either instance, the opening surplus or the closing surplus of any
corporation may be positive or negative.
Financial statements in ratio form. Many kinds of quantitative
comparisons are used to measure the financial strength of a company
and the success of its operations. The simplest is to compare related
financial items, such as sales and profits, and to express the relationship in the form of a ratio. By use of these ratios, various
aspects of a company's operations may be compared with the performance
of other companies or groups of companies of similar size or in a
similar line of business.
Certain tables show each income statement item as a percent of
net sales and each balance sheet item as a percent of total assets.
The operating and financial characteristics of the respective industries and asset sizes are thus reduced to a common denominator so as
to facilitate analysis by executives, investors, grantors
of credit,
11
and others. These common denominator or "common size statements, as
they are often called, are a valuable external standard in gauging the
success of a particular company's operations.
These tables also include these additional basic operating ratios:
(1) Annual rate of profit on stockholders' equity at end of period
measures the 1 earning power of a company or group of companies from the
stockholders point of view; it also provides a basis for comparing
rates of profit of various industries and asset sizes. This ratio is
obtained by dividing the net profit before or after Federal income taxes
for the quarter (multiplied by four to put it on an annual basis) by
stockholders' equity at the end of the quarter. Stockholders' equity
consists of capital stock (net of treasury stock), capital surplus,
minority interest, earned surplus and surplus reserves, and reserves not
reflected elsewhere (the bulk of the last item is surplus reserves because not all companies include such reserves with earned surplus as
called for on the report form). Ideally, stockholders' equity should
be represented by the average of stockholders' equity at the end of the
quarter and at the end of the preceding quarter; such calculations,
however, would delay issuance of the published report more than the
differences would justify.
(2) Current assets to current liabilities measures the potential
ability of a company or group of companies to meet current obligations.
It is obtained by dividing total current assets by total current liabilities. It is expressed as the number of times total current assets
covers total current liabilities.
(3) Total cash and U.S. Government securities to total current
liabilities measures the ability of a company or group of companies to
69
satisfy current obligations with cash on hand or its equivalent and
supplements the ratio of current assets to current liabilities as defined in (2) above. It is obtained by dividing total cash and U.S.
Government securities (including tax anticipation bills and nonguaranteed Federal agency issues) by total current liabilities. It is
expressed as the number of times (ordinarily less than one) total
cash and U.S. Government securities covers total current liabilities.
(4) Total stockholders' equity to debt measures, for a company or
group of companies, the relationship between capital owned
and capital
1
borrowed. It is obtained by dividing total stockholders equity, as
defined in (1) above, by the total of short-term loans from banks, installments due in one year or less on long-term debt, and long-term
debt due in more than
one year. It is expressed as the number of times
1
total stockholders equity covers the total of short-term loans from
banks, installments due in one year or less on long-term debt, and
long-term debt due in more than one year.
Financial statistics for earlier years, tabulated
by the Internal Revenue Service from income tax returns
filed by manufacturing corporations, have been published
annually in Statistics of Income, Corporation Income Tax
Returns. The most recent complete tabulation, for 1959-60,
may be purchased for $1.75 from the Superintendent of Documents, Government Printing Office, Washington 25, D . C .
70
Table 9 . - Composition of the FTC-SEC sample,
by total assets and data collecting agency,
1st quarter 1962
Total assets
of all manufacturing corporations 1/
Asset size
Million
dollars
$1,000
$ 250
$ 100
$
50
million
million
million
million
and over
to $1,000 million
to $ 250 million
to $ 100 million
Total
FTC
segment
SEC
segment
83,947
61,468
30,723
19,905
31
22
11
7
34
119
195
278
1
2
30
67
33
117
165
211
196,043
71
626
100 &
526
50 million -.14,286
25 million 14,772
10 million
9,856
5
5
4
409
953
1.194
171
554
879
238
399
315
234,956
39,876
85
15
3,182
7,425
1,704
6,909
1,478
516
274,832
100
10,607
8,613
1,994
$
50 million and over
$
$
$
25 million to $
10 million to $
5 million to $
$
5 million and over
Under $5 million
All asset sizes
Percent
Number of
manufacturing
corporations in
sample 2j
1/ Figures are rounded and will not necessarily add to totals.
2J A sample consisting of all manufacturing corporations with total
assets of $5 million and over, approximately 25 percent of all manufacturing corporations with total assets of $1 million to $5 million, and approximately two percent of all manufacturing corporations with total assets under $1 million.
Of the estimated 165,863
U . S . Corporation Income Tax Forms 1120 filed by active manufacturing
corporations with accounting periods ended July 1960 through June
1961, the latest year for which such information has been published
by the Internal Revenue Service in Statistics of Income, 3,877 were
returns with total assets of $5 million and over, 12,009 were returns
with total assets of $1 million to $5 million, and 149,977 were returns
with total assets under $1 million.
3/ Of these 100 corporations, 731 1 are not included in "The 500 Largest
U . S . Industrial Corporations listed in The Fortune Directory 1
dated August 1962. Financial statements are not given in Moody s
Industrial Manual, 1962 for 68 of these 100 corporations* 17 of
the 73 and 20 of the 68 corporations have assets in excess of
$100 million.
U.SL GOVERNMENT PRINTING O F F I C E : 1963 O - 688444
@FedFRASER