Industry Income Statement (Annual)

Last Updated: August 22, 2026 at 10:21 AM EST

Author

Mike Aguilar
/in/mike-aguilar-econ/
mike.aguilar at duke.edu

All

Industry Income Statement (Mln$) – All
Accounting Concept	2022	2023	2024	2025
Gross Revenue	46,611,200	48,540,300	50,736,600	53,003,900
COGS	20,556,600	20,728,800	21,438,500	22,241,800
COGS (Energy)	1,134,300	935,900	875,800	NA
COGS (Materials)	7,236,300	6,904,600	7,006,200	NA
COGS (Services)	12,186,000	12,888,300	13,556,500	NA
Gross Operating Surplus (EBITDA-like)	10,885,900	11,824,400	12,388,400	NA
Interest Expense	654,310	613,841	579,219	NA
Margins (%)
Gross Margin	NA	NA	NA	NA
EBITDA-like Margin	23.4%	24.4%	24.4%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Pvt

Industry Income Statement (Mln$) – Pvt
Accounting Concept	2022	2023	2024	2025
Gross Revenue	41,698,300	43,405,600	45,309,100	47,335,400
COGS	18,569,500	18,692,800	19,307,400	20,020,300
COGS (Energy)	857,200	715,700	667,400	NA
COGS (Materials)	6,688,300	6,365,700	6,415,200	NA
COGS (Services)	11,023,900	11,611,400	12,224,800	NA
Gross Operating Surplus (EBITDA-like)	10,172,900	11,101,000	11,632,100	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	55.5%	56.9%	57.4%	57.7%
EBITDA-like Margin	24.4%	25.6%	25.7%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Ag

Industry Income Statement (Mln$) – Ag
Accounting Concept	2022	2023	2024	2025
Gross Revenue	642,200	638,000	633,800	642,900
COGS	348,200	367,600	364,200	370,900
COGS (Energy)	16,800	17,300	16,500	NA
COGS (Materials)	271,800	281,100	275,000	NA
COGS (Services)	59,600	69,200	72,700	NA
Gross Operating Surplus (EBITDA-like)	226,300	190,400	181,500	NA
Interest Expense	17,807	20,937	21,918	NA
Margins (%)
Gross Margin	45.8%	42.4%	42.6%	42.3%
EBITDA-like Margin	35.2%	29.8%	28.6%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Ag.Farms

Industry Income Statement (Mln$) – Ag.Farms
Accounting Concept	2022	2023	2024	2025
Gross Revenue	576,700	570,000	565,700	575,200
COGS	329,600	351,800	349,900	354,500
COGS (Energy)	16,300	16,900	16,200	NA
COGS (Materials)	258,800	271,300	266,300	NA
COGS (Services)	54,600	63,600	67,300	NA
Gross Operating Surplus (EBITDA-like)	213,300	174,600	165,800	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	42.8%	38.3%	38.1%	38.4%
EBITDA-like Margin	37.0%	30.6%	29.3%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Ag.Forest

Industry Income Statement (Mln$) – Ag.Forest
Accounting Concept	2022	2023	2024	2025
Gross Revenue	65,600	68,000	68,100	67,700
COGS	18,600	15,800	14,300	16,400
COGS (Energy)	500	400	200	NA
COGS (Materials)	13,100	9,800	8,600	NA
COGS (Services)	5,000	5,700	5,400	NA
Gross Operating Surplus (EBITDA-like)	13,000	15,800	15,700	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	71.6%	76.8%	79.1%	75.8%
EBITDA-like Margin	19.8%	23.2%	23.1%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Min

Industry Income Statement (Mln$) – Min
Accounting Concept	2022	2023	2024	2025
Gross Revenue	890,600	724,500	706,400	704,200
COGS	423,600	312,700	302,200	319,900
COGS (Energy)	37,500	21,100	16,100	NA
COGS (Materials)	203,500	136,100	136,000	NA
COGS (Services)	182,600	155,500	150,100	NA
Gross Operating Surplus (EBITDA-like)	325,000	266,300	251,800	NA
Interest Expense	14,402	12,307	12,700	NA
Margins (%)
Gross Margin	52.4%	56.8%	57.2%	54.6%
EBITDA-like Margin	36.5%	36.8%	35.6%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Min.OilGas

Industry Income Statement (Mln$) – Min.OilGas
Accounting Concept	2022	2023	2024	2025
Gross Revenue	653,800	467,700	456,000	454,600
COGS	324,700	207,800	203,400	223,100
COGS (Energy)	25,000	11,600	8,300	NA
COGS (Materials)	163,500	95,800	98,000	NA
COGS (Services)	136,200	100,300	97,000	NA
Gross Operating Surplus (EBITDA-like)	250,000	183,400	171,700	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	50.3%	55.6%	55.4%	50.9%
EBITDA-like Margin	38.2%	39.2%	37.7%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Min.XOilGas

Industry Income Statement (Mln$) – Min.XOilGas
Accounting Concept	2022	2023	2024	2025
Gross Revenue	138,100	141,300	139,900	152,100
COGS	62,700	61,500	59,100	65,300
COGS (Energy)	10,500	7,700	6,500	NA
COGS (Materials)	27,600	27,000	26,100	NA
COGS (Services)	24,600	26,700	26,500	NA
Gross Operating Surplus (EBITDA-like)	46,100	49,600	49,200	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	54.6%	56.5%	57.8%	57.0%
EBITDA-like Margin	33.4%	35.1%	35.2%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Min.Suppt

Industry Income Statement (Mln$) – Min.Suppt
Accounting Concept	2022	2023	2024	2025
Gross Revenue	98,700	115,600	110,600	97,600
COGS	36,300	43,500	39,700	31,400
COGS (Energy)	2,000	1,700	1,300	NA
COGS (Materials)	12,500	13,200	11,800	NA
COGS (Services)	21,800	28,500	26,600	NA
Gross Operating Surplus (EBITDA-like)	28,900	33,400	30,900	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	63.3%	62.4%	64.0%	67.7%
EBITDA-like Margin	29.3%	28.9%	27.9%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Utl

Industry Income Statement (Mln$) – Utl
Accounting Concept	2022	2023	2024	2025
Gross Revenue	699,200	645,700	643,300	691,000
COGS	258,400	188,000	188,900	219,800
COGS (Energy)	154,700	103,400	92,000	NA
COGS (Materials)	13,100	11,700	13,300	NA
COGS (Services)	90,600	72,900	83,700	NA
Gross Operating Surplus (EBITDA-like)	269,300	280,400	265,700	NA
Interest Expense	28,348	23,539	28,687	NA
Margins (%)
Gross Margin	63.0%	70.9%	70.6%	68.2%
EBITDA-like Margin	38.5%	43.4%	41.3%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Constr

Industry Income Statement (Mln$) – Constr
Accounting Concept	2022	2023	2024	2025
Gross Revenue	2,204,000	2,389,000	2,511,500	2,534,700
COGS	1,091,600	1,164,500	1,206,100	1,193,400
COGS (Energy)	50,900	51,000	45,400	NA
COGS (Materials)	840,500	854,900	869,900	NA
COGS (Services)	200,300	258,600	290,700	NA
Gross Operating Surplus (EBITDA-like)	404,500	465,400	491,200	NA
Interest Expense	15,144	13,441	4,882	NA
Margins (%)
Gross Margin	50.5%	51.3%	52.0%	52.9%
EBITDA-like Margin	18.4%	19.5%	19.6%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Mfg

Industry Income Statement (Mln$) – Mfg
Accounting Concept	2022	2023	2024	2025
Gross Revenue	7,132,500	7,142,600	7,134,600	7,254,800
COGS	4,464,300	4,326,100	4,253,900	4,358,300
COGS (Energy)	109,700	100,900	86,900	NA
COGS (Materials)	3,738,300	3,567,700	3,528,200	NA
COGS (Services)	616,300	657,500	638,900	NA
Gross Operating Surplus (EBITDA-like)	1,313,000	1,407,300	1,415,600	NA
Interest Expense	102,606	75,051	76,319	NA
Margins (%)
Gross Margin	37.4%	39.4%	40.4%	39.9%
EBITDA-like Margin	18.4%	19.7%	19.8%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Mfg.DurGds

Industry Income Statement (Mln$) – Mfg.DurGds
Accounting Concept	2022	2023	2024	2025
Gross Revenue	3,412,100	3,547,700	3,564,900	3,689,400
COGS	2,018,800	2,055,100	2,040,100	2,133,000
COGS (Energy)	41,100	39,800	36,800	NA
COGS (Materials)	1,644,100	1,657,300	1,646,900	NA
COGS (Services)	333,600	358,000	356,300	NA
Gross Operating Surplus (EBITDA-like)	536,300	594,000	588,400	NA
Interest Expense	39,844	25,871	27,135	NA
Margins (%)
Gross Margin	40.8%	42.1%	42.8%	42.2%
EBITDA-like Margin	15.7%	16.7%	16.5%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Mfg.XDurGds

Industry Income Statement (Mln$) – Mfg.XDurGds
Accounting Concept	2022	2023	2024	2025
Gross Revenue	3,720,400	3,594,900	3,569,700	3,565,400
COGS	2,445,400	2,271,000	2,213,800	2,225,300
COGS (Energy)	68,600	61,100	50,000	NA
COGS (Materials)	2,094,200	1,910,400	1,881,200	NA
COGS (Services)	282,700	299,500	282,500	NA
Gross Operating Surplus (EBITDA-like)	776,700	813,300	827,200	NA
Interest Expense	62,763	49,180	49,184	NA
Margins (%)
Gross Margin	34.3%	36.8%	38.0%	37.6%
EBITDA-like Margin	20.9%	22.6%	23.2%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Wholsl

Industry Income Statement (Mln$) – Wholsl
Accounting Concept	2022	2023	2024	2025
Gross Revenue	2,883,600	2,864,000	2,939,500	3,136,200
COGS	1,289,200	1,211,300	1,233,200	1,230,900
COGS (Energy)	33,600	22,400	18,500	NA
COGS (Materials)	135,000	114,500	109,800	NA
COGS (Services)	1,120,600	1,074,400	1,104,900	NA
Gross Operating Surplus (EBITDA-like)	597,300	632,900	644,900	NA
Interest Expense	19,239	8,040	9,834	NA
Margins (%)
Gross Margin	55.3%	57.7%	58.0%	60.8%
EBITDA-like Margin	20.7%	22.1%	21.9%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Rtl

Industry Income Statement (Mln$) – Rtl
Accounting Concept	2022	2023	2024	2025
Gross Revenue	2,689,400	2,753,100	2,834,000	2,955,700
COGS	1,041,500	973,500	985,000	1,033,900
COGS (Energy)	68,900	46,600	39,100	NA
COGS (Materials)	119,100	92,200	93,300	NA
COGS (Services)	853,500	834,700	852,600	NA
Gross Operating Surplus (EBITDA-like)	536,800	631,200	664,700	NA
Interest Expense	26,283	14,400	13,553	NA
Margins (%)
Gross Margin	61.3%	64.6%	65.2%	65.0%
EBITDA-like Margin	20.0%	22.9%	23.5%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Rtl.MotoVeh

Industry Income Statement (Mln$) – Rtl.MotoVeh
Accounting Concept	2022	2023	2024	2025
Gross Revenue	523,700	541,200	551,800	573,300
COGS	181,900	181,600	195,000	201,700
COGS (Energy)	9,800	7,400	6,800	NA
COGS (Materials)	22,700	18,000	19,200	NA
COGS (Services)	149,400	156,100	169,000	NA
Gross Operating Surplus (EBITDA-like)	108,400	120,900	113,600	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	65.3%	66.4%	64.7%	64.8%
EBITDA-like Margin	20.7%	22.3%	20.6%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Rtl.FoodBev

Industry Income Statement (Mln$) – Rtl.FoodBev
Accounting Concept	2022	2023	2024	2025
Gross Revenue	335,000	342,600	350,900	360,900
COGS	124,700	111,800	114,700	119,600
COGS (Energy)	15,200	10,100	8,900	NA
COGS (Materials)	19,500	15,400	15,400	NA
COGS (Services)	90,000	86,300	90,400	NA
Gross Operating Surplus (EBITDA-like)	52,500	62,000	60,100	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	62.8%	67.4%	67.3%	66.9%
EBITDA-like Margin	15.7%	18.1%	17.1%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Rtl.GenMerch

Industry Income Statement (Mln$) – Rtl.GenMerch
Accounting Concept	2022	2023	2024	2025
Gross Revenue	295,300	301,200	308,500	315,500
COGS	96,000	93,700	84,400	84,300
COGS (Energy)	10,700	7,900	5,800	NA
COGS (Materials)	13,800	10,700	10,700	NA
COGS (Services)	71,600	75,100	67,900	NA
Gross Operating Surplus (EBITDA-like)	25,800	31,900	40,000	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	67.5%	68.9%	72.6%	73.3%
EBITDA-like Margin	8.7%	10.6%	13.0%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Rtl.Oth

Industry Income Statement (Mln$) – Rtl.Oth
Accounting Concept	2022	2023	2024	2025
Gross Revenue	1,535,500	1,568,100	1,622,900	1,705,900
COGS	638,900	586,500	590,900	628,300
COGS (Energy)	33,200	21,200	17,600	NA
COGS (Materials)	63,100	48,000	48,000	NA
COGS (Services)	542,600	517,300	525,200	NA
Gross Operating Surplus (EBITDA-like)	350,100	416,400	451,100	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	58.4%	62.6%	63.6%	63.2%
EBITDA-like Margin	22.8%	26.6%	27.8%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Trans

Industry Income Statement (Mln$) – Trans
Accounting Concept	2022	2023	2024	2025
Gross Revenue	1,799,600	1,751,200	1,821,200	1,896,000
COGS	887,500	805,100	833,900	872,100
COGS (Energy)	160,600	133,100	127,300	NA
COGS (Materials)	81,300	67,000	69,400	NA
COGS (Services)	645,600	605,100	637,200	NA
Gross Operating Surplus (EBITDA-like)	347,700	350,700	356,000	NA
Interest Expense	16,230	12,822	8,747	NA
Margins (%)
Gross Margin	50.7%	54.0%	54.2%	54.0%
EBITDA-like Margin	19.3%	20.0%	19.5%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Trans.Air

Industry Income Statement (Mln$) – Trans.Air
Accounting Concept	2022	2023	2024	2025
Gross Revenue	296,500	311,000	329,300	341,500
COGS	149,100	142,800	153,600	156,500
COGS (Energy)	41,100	34,800	34,500	NA
COGS (Materials)	2,200	1,400	1,400	NA
COGS (Services)	105,800	106,600	117,700	NA
Gross Operating Surplus (EBITDA-like)	48,500	57,000	52,700	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	49.7%	54.1%	53.4%	54.2%
EBITDA-like Margin	16.4%	18.3%	16.0%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Trans.Rail

Industry Income Statement (Mln$) – Trans.Rail
Accounting Concept	2022	2023	2024	2025
Gross Revenue	95,300	92,200	92,500	92,500
COGS	45,000	39,700	39,300	41,500
COGS (Energy)	7,100	4,300	3,600	NA
COGS (Materials)	10,600	8,700	8,700	NA
COGS (Services)	27,200	26,700	26,900	NA
Gross Operating Surplus (EBITDA-like)	29,200	28,600	28,700	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	52.8%	56.9%	57.5%	55.0%
EBITDA-like Margin	30.6%	31.0%	31.0%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Trans.Water

Industry Income Statement (Mln$) – Trans.Water
Accounting Concept	2022	2023	2024	2025
Gross Revenue	66,900	71,800	77,600	79,500
COGS	45,600	48,900	53,200	55,500
COGS (Energy)	8,200	7,200	7,700	NA
COGS (Materials)	1,900	1,900	2,300	NA
COGS (Services)	35,500	39,700	43,200	NA
Gross Operating Surplus (EBITDA-like)	11,600	12,400	12,900	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	31.8%	32.0%	31.3%	30.2%
EBITDA-like Margin	17.3%	17.3%	16.6%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Trans.Truck

Industry Income Statement (Mln$) – Trans.Truck
Accounting Concept	2022	2023	2024	2025
Gross Revenue	577,300	528,300	526,900	541,400
COGS	317,800	271,400	269,600	278,900
COGS (Energy)	68,900	57,200	53,700	NA
COGS (Materials)	23,100	18,300	20,000	NA
COGS (Services)	225,800	195,900	195,900	NA
Gross Operating Surplus (EBITDA-like)	120,500	116,000	115,800	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	45.0%	48.6%	48.9%	48.5%
EBITDA-like Margin	20.9%	22.0%	22.0%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Trans.Transit

Industry Income Statement (Mln$) – Trans.Transit
Accounting Concept	2022	2023	2024	2025
Gross Revenue	119,100	145,600	178,200	197,500
COGS	61,100	74,400	94,400	106,200
COGS (Energy)	5,600	6,900	8,100	NA
COGS (Materials)	3,800	4,300	5,100	NA
COGS (Services)	51,700	63,200	81,200	NA
Gross Operating Surplus (EBITDA-like)	26,300	34,700	43,100	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	48.7%	48.9%	47.1%	46.2%
EBITDA-like Margin	22.1%	23.8%	24.2%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Trans.Pipe

Industry Income Statement (Mln$) – Trans.Pipe
Accounting Concept	2022	2023	2024	2025
Gross Revenue	69,600	71,400	73,200	77,800
COGS	26,200	24,900	24,700	26,600
COGS (Energy)	2,700	2,600	2,500	NA
COGS (Materials)	2,700	2,500	2,700	NA
COGS (Services)	20,800	19,700	19,500	NA
Gross Operating Surplus (EBITDA-like)	30,200	32,000	32,900	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	62.4%	65.1%	66.3%	65.8%
EBITDA-like Margin	43.4%	44.8%	44.9%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Trans.Oth

Industry Income Statement (Mln$) – Trans.Oth
Accounting Concept	2022	2023	2024	2025
Gross Revenue	396,400	350,200	354,900	365,800
COGS	179,700	140,000	138,700	139,800
COGS (Energy)	18,000	12,400	10,500	NA
COGS (Materials)	28,700	21,900	21,600	NA
COGS (Services)	133,000	105,700	106,600	NA
Gross Operating Surplus (EBITDA-like)	76,500	65,100	64,900	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	54.7%	60.0%	60.9%	61.8%
EBITDA-like Margin	19.3%	18.6%	18.3%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Trans.Warehs

Industry Income Statement (Mln$) – Trans.Warehs
Accounting Concept	2022	2023	2024	2025
Gross Revenue	178,500	180,600	188,600	200,000
COGS	63,000	63,200	60,500	67,000
COGS (Energy)	9,100	7,800	6,700	NA
COGS (Materials)	8,300	7,800	7,600	NA
COGS (Services)	45,700	47,500	46,100	NA
Gross Operating Surplus (EBITDA-like)	4,800	4,900	5,100	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	64.7%	65.1%	67.9%	66.5%
EBITDA-like Margin	2.7%	2.7%	2.7%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Info

Industry Income Statement (Mln$) – Info
Accounting Concept	2022	2023	2024	2025
Gross Revenue	2,448,700	2,536,800	2,687,200	2,858,100
COGS	1,065,200	1,045,500	1,094,500	1,163,100
COGS (Energy)	22,400	20,000	20,800	NA
COGS (Materials)	130,300	114,200	116,200	NA
COGS (Services)	912,600	911,300	957,600	NA
Gross Operating Surplus (EBITDA-like)	798,300	880,600	933,600	NA
Interest Expense	24,573	20,217	8,885	NA
Margins (%)
Gross Margin	56.5%	58.8%	59.3%	59.3%
EBITDA-like Margin	32.6%	34.7%	34.7%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Info.Publ

Industry Income Statement (Mln$) – Info.Publ
Accounting Concept	2022	2023	2024	2025
Gross Revenue	553,100	595,900	651,600	723,100
COGS	188,000	188,900	208,900	244,000
COGS (Energy)	1,900	1,600	1,800	NA
COGS (Materials)	11,700	10,100	10,800	NA
COGS (Services)	174,400	177,200	196,200	NA
Gross Operating Surplus (EBITDA-like)	197,700	227,300	250,200	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	66.0%	68.3%	67.9%	66.3%
EBITDA-like Margin	35.7%	38.1%	38.4%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Info.MotionPic

Industry Income Statement (Mln$) – Info.MotionPic
Accounting Concept	2022	2023	2024	2025
Gross Revenue	195,200	202,200	207,000	209,000
COGS	80,700	88,300	87,600	90,000
COGS (Energy)	700	700	700	NA
COGS (Materials)	3,000	2,600	2,300	NA
COGS (Services)	77,000	85,000	84,600	NA
Gross Operating Surplus (EBITDA-like)	62,400	68,300	70,000	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	58.7%	56.3%	57.7%	56.9%
EBITDA-like Margin	32.0%	33.8%	33.8%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Info.Bcast

Industry Income Statement (Mln$) – Info.Bcast
Accounting Concept	2022	2023	2024	2025
Gross Revenue	958,400	943,500	938,600	939,400
COGS	471,300	444,400	437,000	433,000
COGS (Energy)	11,400	9,900	9,800	NA
COGS (Materials)	75,200	66,400	67,700	NA
COGS (Services)	384,600	368,100	359,500	NA
Gross Operating Surplus (EBITDA-like)	320,100	329,200	329,300	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	50.8%	52.9%	53.4%	53.9%
EBITDA-like Margin	33.4%	34.9%	35.1%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Info.DataProc

Industry Income Statement (Mln$) – Info.DataProc
Accounting Concept	2022	2023	2024	2025
Gross Revenue	742,000	795,200	890,100	986,600
COGS	325,200	324,000	361,000	396,100
COGS (Energy)	8,400	7,800	8,500	NA
COGS (Materials)	40,400	35,200	35,400	NA
COGS (Services)	276,500	281,100	317,200	NA
Gross Operating Surplus (EBITDA-like)	218,100	255,800	284,100	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	56.2%	59.3%	59.4%	59.9%
EBITDA-like Margin	29.4%	32.2%	31.9%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Fin

Industry Income Statement (Mln$) – Fin
Accounting Concept	2022	2023	2024	2025
Gross Revenue	8,610,900	9,423,400	10,038,300	10,551,300
COGS	3,155,800	3,539,900	3,756,800	3,870,900
COGS (Energy)	63,900	69,100	72,000	NA
COGS (Materials)	109,700	107,100	112,000	NA
COGS (Services)	2,982,200	3,363,800	3,572,800	NA
Gross Operating Surplus (EBITDA-like)	3,796,800	4,158,600	4,459,300	NA
Interest Expense	282,387	334,987	332,237	NA
Margins (%)
Gross Margin	63.4%	62.4%	62.6%	63.3%
EBITDA-like Margin	44.1%	44.1%	44.4%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Fin.FinIns

Industry Income Statement (Mln$) – Fin.FinIns
Accounting Concept	2022	2023	2024	2025
Gross Revenue	3,483,000	3,844,700	4,157,300	4,433,000
COGS	1,500,400	1,769,000	1,928,100	1,991,200
COGS (Energy)	19,200	22,700	22,300	NA
COGS (Materials)	22,000	22,400	24,700	NA
COGS (Services)	1,459,200	1,723,900	1,881,100	NA
Gross Operating Surplus (EBITDA-like)	888,900	938,800	1,030,300	NA
Interest Expense	-269,364	-272,288	-342,281	NA
Margins (%)
Gross Margin	56.9%	54.0%	53.6%	55.1%
EBITDA-like Margin	25.5%	24.4%	24.8%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Fin.REnt

Industry Income Statement (Mln$) – Fin.REnt
Accounting Concept	2022	2023	2024	2025
Gross Revenue	5,127,900	5,578,700	5,881,000	6,118,300
COGS	1,655,400	1,770,900	1,828,600	1,879,800
COGS (Energy)	44,700	46,400	49,700	NA
COGS (Materials)	87,700	84,700	87,300	NA
COGS (Services)	1,523,000	1,639,800	1,691,700	NA
Gross Operating Surplus (EBITDA-like)	2,907,900	3,219,800	3,429,000	NA
Interest Expense	551,751	607,275	674,518	NA
Margins (%)
Gross Margin	67.7%	68.3%	68.9%	69.3%
EBITDA-like Margin	56.7%	57.7%	58.3%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

PrfSrv

Industry Income Statement (Mln$) – PrfSrv
Accounting Concept	2022	2023	2024	2025
Gross Revenue	5,329,000	5,573,100	5,862,600	6,190,300
COGS	1,954,600	1,963,300	2,051,500	2,166,900
COGS (Energy)	41,200	36,100	34,800	NA
COGS (Materials)	337,200	334,000	374,500	NA
COGS (Services)	1,576,200	1,593,300	1,642,300	NA
Gross Operating Surplus (EBITDA-like)	813,600	930,100	990,900	NA
Interest Expense	73,923	49,801	31,430	NA
Margins (%)
Gross Margin	63.3%	64.8%	65.0%	65.0%
EBITDA-like Margin	15.3%	16.7%	16.9%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

PrfSrv.Sci

Industry Income Statement (Mln$) – PrfSrv.Sci
Accounting Concept	2022	2023	2024	2025
Gross Revenue	3,112,000	3,295,400	3,489,500	3,689,800
COGS	1,054,500	1,074,800	1,134,400	1,195,600
COGS (Energy)	16,600	15,600	15,500	NA
COGS (Materials)	187,100	190,600	218,400	NA
COGS (Services)	850,700	868,600	900,500	NA
Gross Operating Surplus (EBITDA-like)	565,300	647,200	689,400	NA
Interest Expense	12,012	7,152	8,802	NA
Margins (%)
Gross Margin	66.1%	67.4%	67.5%	67.6%
EBITDA-like Margin	18.2%	19.6%	19.8%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

PrfSrv.Mgmt

Industry Income Statement (Mln$) – PrfSrv.Mgmt
Accounting Concept	2022	2023	2024	2025
Gross Revenue	750,400	786,500	858,000	928,000
COGS	270,600	282,500	313,600	351,300
COGS (Energy)	8,500	6,100	5,500	NA
COGS (Materials)	28,700	30,500	38,800	NA
COGS (Services)	233,400	246,000	269,300	NA
Gross Operating Surplus (EBITDA-like)	43,200	46,200	48,600	NA
Interest Expense	52,798	32,358	11,580	NA
Margins (%)
Gross Margin	63.9%	64.1%	63.4%	62.2%
EBITDA-like Margin	5.8%	5.9%	5.7%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

PrfSrv.AdmWst

Industry Income Statement (Mln$) – PrfSrv.AdmWst
Accounting Concept	2022	2023	2024	2025
Gross Revenue	1,466,600	1,491,200	1,515,100	1,572,500
COGS	629,600	606,000	603,400	620,100
COGS (Energy)	16,100	14,400	13,700	NA
COGS (Materials)	121,400	112,900	117,300	NA
COGS (Services)	492,100	478,700	472,400	NA
Gross Operating Surplus (EBITDA-like)	205,100	236,700	252,900	NA
Interest Expense	9,114	10,291	11,047	NA
Margins (%)
Gross Margin	57.1%	59.4%	60.2%	60.6%
EBITDA-like Margin	14.0%	15.9%	16.7%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

EduHth

Industry Income Statement (Mln$) – EduHth
Accounting Concept	2022	2023	2024	2025
Gross Revenue	3,447,500	3,742,800	4,083,900	4,363,800
COGS	1,288,300	1,382,800	1,539,800	1,645,600
COGS (Energy)	34,900	35,900	39,900	NA
COGS (Materials)	335,800	318,000	345,200	NA
COGS (Services)	917,700	1,028,900	1,154,700	NA
Gross Operating Surplus (EBITDA-like)	338,800	406,300	447,400	NA
Interest Expense	8,177	5,980	5,859	NA
Margins (%)
Gross Margin	62.6%	63.1%	62.3%	62.3%
EBITDA-like Margin	9.8%	10.9%	11.0%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

EduHth.Edu

Industry Income Statement (Mln$) – EduHth.Edu
Accounting Concept	2022	2023	2024	2025
Gross Revenue	417,800	448,600	495,800	519,900
COGS	121,800	132,200	161,000	172,700
COGS (Energy)	5,700	5,500	7,000	NA
COGS (Materials)	18,200	17,200	24,400	NA
COGS (Services)	97,900	109,600	129,500	NA
Gross Operating Surplus (EBITDA-like)	40,800	48,300	53,400	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	70.9%	70.5%	67.5%	66.8%
EBITDA-like Margin	9.8%	10.8%	10.8%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

EduHth.Hth

Industry Income Statement (Mln$) – EduHth.Hth
Accounting Concept	2022	2023	2024	2025
Gross Revenue	3,029,600	3,294,200	3,588,200	3,843,900
COGS	1,166,600	1,250,500	1,378,800	1,472,900
COGS (Energy)	29,200	30,400	32,900	NA
COGS (Materials)	317,600	300,800	320,800	NA
COGS (Services)	819,800	919,400	1,025,200	NA
Gross Operating Surplus (EBITDA-like)	298,000	358,000	394,000	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	61.5%	62.0%	61.6%	61.7%
EBITDA-like Margin	9.8%	10.9%	11.0%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

ArtAcmdFd

Industry Income Statement (Mln$) – ArtAcmdFd
Accounting Concept	2022	2023	2024	2025
Gross Revenue	1,990,600	2,197,600	2,317,200	2,437,100
COGS	920,300	978,100	1,030,100	1,104,800
COGS (Energy)	48,200	47,300	46,700	NA
COGS (Materials)	242,900	232,700	233,400	NA
COGS (Services)	629,200	698,000	749,900	NA
Gross Operating Surplus (EBITDA-like)	280,200	356,200	374,900	NA
Interest Expense	22,230	19,817	21,243	NA
Margins (%)
Gross Margin	53.8%	55.5%	55.5%	54.7%
EBITDA-like Margin	14.1%	16.2%	16.2%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

ArtAcmdFd.Art

Industry Income Statement (Mln$) – ArtAcmdFd.Art
Accounting Concept	2022	2023	2024	2025
Gross Revenue	481,200	525,800	570,800	611,400
COGS	217,300	222,100	244,100	255,500
COGS (Energy)	7,800	7,500	7,900	NA
COGS (Materials)	27,800	25,700	25,800	NA
COGS (Services)	181,700	188,800	210,400	NA
Gross Operating Surplus (EBITDA-like)	89,700	108,000	117,700	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	54.9%	57.8%	57.3%	58.2%
EBITDA-like Margin	18.6%	20.5%	20.6%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

ArtAcmdFd.AcmdFdSrv

Industry Income Statement (Mln$) – ArtAcmdFd.AcmdFdSrv
Accounting Concept	2022	2023	2024	2025
Gross Revenue	1,509,300	1,671,800	1,746,400	1,825,700
COGS	703,000	756,000	786,000	849,200
COGS (Energy)	40,400	39,800	38,800	NA
COGS (Materials)	215,200	207,000	207,600	NA
COGS (Services)	447,400	509,200	539,600	NA
Gross Operating Surplus (EBITDA-like)	190,500	248,200	257,200	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	53.4%	54.8%	55.0%	53.5%
EBITDA-like Margin	12.6%	14.8%	14.7%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

OthSrvsXGov

Industry Income Statement (Mln$) – OthSrvsXGov
Accounting Concept	2022	2023	2024	2025
Gross Revenue	930,700	1,023,700	1,095,400	1,119,300
COGS	381,000	434,600	467,500	469,900
COGS (Energy)	14,000	11,600	11,500	NA
COGS (Materials)	129,900	134,700	139,200	NA
COGS (Services)	237,100	288,200	316,700	NA
Gross Operating Surplus (EBITDA-like)	125,400	144,600	154,600	NA
Interest Expense	2,960	2,502	2,926	NA
Margins (%)
Gross Margin	59.1%	57.6%	57.3%	58.0%
EBITDA-like Margin	13.5%	14.1%	14.1%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Gov

Industry Income Statement (Mln$) – Gov
Accounting Concept	2022	2023	2024	2025
Gross Revenue	4,912,900	5,134,700	5,427,500	5,668,500
COGS	1,987,200	2,036,000	2,131,200	2,221,500
COGS (Energy)	277,100	220,200	208,400	NA
COGS (Materials)	548,000	538,900	591,000	NA
COGS (Services)	1,162,100	1,276,900	1,331,700	NA
Gross Operating Surplus (EBITDA-like)	713,000	723,400	756,300	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	59.6%	60.3%	60.7%	60.8%
EBITDA-like Margin	14.5%	14.1%	13.9%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Fed

Industry Income Statement (Mln$) – Fed
Accounting Concept	2022	2023	2024	2025
Gross Revenue	1,455,100	1,531,600	1,632,200	1,690,100
COGS	509,600	531,800	567,300	582,600
COGS (Energy)	25,800	22,300	20,900	NA
COGS (Materials)	161,500	163,200	183,800	NA
COGS (Services)	322,300	346,400	362,600	NA
Gross Operating Surplus (EBITDA-like)	361,100	372,400	391,500	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	65.0%	65.3%	65.2%	65.5%
EBITDA-like Margin	24.8%	24.3%	24.0%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Fed.Gen

Industry Income Statement (Mln$) – Fed.Gen
Accounting Concept	2022	2023	2024	2025
Gross Revenue	1,339,900	1,421,300	1,521,500	1,577,900
COGS	467,500	492,200	534,700	548,700
COGS (Energy)	17,600	15,400	15,800	NA
COGS (Materials)	153,000	156,500	178,300	NA
COGS (Services)	297,000	320,300	340,600	NA
Gross Operating Surplus (EBITDA-like)	344,800	362,000	379,300	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	65.1%	65.4%	64.9%	65.2%
EBITDA-like Margin	25.7%	25.5%	24.9%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Fed.Enterp

Industry Income Statement (Mln$) – Fed.Enterp
Accounting Concept	2022	2023	2024	2025
Gross Revenue	115,100	110,300	110,700	112,200
COGS	42,000	39,600	32,600	33,800
COGS (Energy)	8,200	6,800	5,100	NA
COGS (Materials)	8,600	6,700	5,500	NA
COGS (Services)	25,300	26,100	22,000	NA
Gross Operating Surplus (EBITDA-like)	16,300	10,400	12,200	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	63.5%	64.1%	70.6%	69.9%
EBITDA-like Margin	14.2%	9.4%	11.0%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

StLoc

Industry Income Statement (Mln$) – StLoc
Accounting Concept	2022	2023	2024	2025
Gross Revenue	3,457,800	3,603,100	3,795,300	3,978,400
COGS	1,477,600	1,504,100	1,563,900	1,638,900
COGS (Energy)	251,300	197,900	187,500	NA
COGS (Materials)	386,400	375,700	407,200	NA
COGS (Services)	839,900	930,500	969,100	NA
Gross Operating Surplus (EBITDA-like)	351,900	351,100	364,800	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	57.3%	58.3%	58.8%	58.8%
EBITDA-like Margin	10.2%	9.7%	9.6%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

StLoc.Gen

Industry Income Statement (Mln$) – StLoc.Gen
Accounting Concept	2022	2023	2024	2025
Gross Revenue	3,012,400	3,137,700	3,297,100	3,442,500
COGS	1,175,800	1,184,900	1,223,700	1,271,300
COGS (Energy)	171,400	130,300	121,000	NA
COGS (Materials)	333,400	319,100	348,100	NA
COGS (Services)	671,000	735,500	754,600	NA
Gross Operating Surplus (EBITDA-like)	283,200	300,900	312,600	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	61.0%	62.2%	62.9%	63.1%
EBITDA-like Margin	9.4%	9.6%	9.5%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

StLoc.Enterp

Industry Income Statement (Mln$) – StLoc.Enterp
Accounting Concept	2022	2023	2024	2025
Gross Revenue	445,400	465,400	498,300	535,900
COGS	301,800	319,300	340,100	367,700
COGS (Energy)	79,900	67,600	66,500	NA
COGS (Materials)	53,100	56,700	59,100	NA
COGS (Services)	168,800	195,000	214,500	NA
Gross Operating Surplus (EBITDA-like)	68,700	50,200	52,200	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	32.2%	31.4%	31.7%	31.4%
EBITDA-like Margin	15.4%	10.8%	10.5%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

PvtGds

Industry Income Statement (Mln$) – PvtGds
Accounting Concept	2022	2023	2024	2025
Gross Revenue	10,869,300	10,894,100	10,986,400	11,136,500
COGS	6,327,700	6,170,800	6,126,300	6,242,400
COGS (Energy)	214,800	190,300	164,900	NA
COGS (Materials)	5,054,100	4,839,700	4,809,000	NA
COGS (Services)	1,058,800	1,140,800	1,152,400	NA
Gross Operating Surplus (EBITDA-like)	2,268,800	2,329,500	2,340,000	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	41.8%	43.4%	44.2%	43.9%
EBITDA-like Margin	20.9%	21.4%	21.3%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

PvtSrvs

Industry Income Statement (Mln$) – PvtSrvs
Accounting Concept	2022	2023	2024	2025
Gross Revenue	30,829,000	32,511,400	34,322,700	36,198,800
COGS	12,241,800	12,521,900	13,181,100	13,777,900
COGS (Energy)	642,500	525,400	502,500	NA
COGS (Materials)	1,634,200	1,525,900	1,606,200	NA
COGS (Services)	9,965,100	10,470,600	11,072,400	NA
Gross Operating Surplus (EBITDA-like)	7,904,100	8,771,500	9,292,100	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	60.3%	61.5%	61.6%	61.9%
EBITDA-like Margin	25.6%	27.0%	27.1%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.

Tech

Industry Income Statement (Mln$) – Tech
Accounting Concept	2022	2023	2024	2025
Gross Revenue	3,050,100	3,161,300	3,340,100	NA
COGS	1,233,700	1,204,600	1,253,900	NA
COGS (Energy)	26,300	23,200	23,300	NA
COGS (Materials)	189,400	168,600	172,400	NA
COGS (Services)	1,017,900	1,012,700	1,058,200	NA
Gross Operating Surplus (EBITDA-like)	802,500	887,200	940,300	NA
Interest Expense	NA	NA	NA	NA
Margins (%)
Gross Margin	59.6%	61.9%	62.5%	NA
EBITDA-like Margin	26.3%	28.1%	28.2%	NA
Note (LABEL-001):
EBITDA-like Margin (Gross Operating Surplus / Gross Output) is a national-accounts operating-surplus ratio, presented as an approximate GAAP-EBITDA analogue -- not a GAAP EBITDA figure.
Source: U.S. Bureau of Economic Analysis (BEA), GDP-by-Industry / NIPA data, retrieved via the BEA API.