DSO by industry

89 U.S. industries, highest first · January 2026

Median industry46 dayshalf are above, half below

Highest217 daysGreen & Renewable Energy

Lowest6 daysRetail (Special Lines)

#	Industry	Days to collect	Gross margin	Companies
1	Green & Renewable Energy	217 days	55.2%	15
2	Advertising	173 days	36.2%	52
3	Insurance (General)	111 days	44.7%	21
4	Engineering/Construction	100 days	15.5%	48
5	Insurance (Life)	95 days	30.0%	20
6	Electrical Equipment	94 days	31.8%	112
7	Aerospace/Defense	87 days	17.5%	79
8	Drugs (Pharmaceutical)	80 days	71.7%	228
9	Retail (REITs)	79 days	78.6%	26
10	Drugs (Biotechnology)	78 days	60.8%	496
11	Investments & Asset Management	78 days	69.8%	283
12	Computer Services	78 days	24.3%	64
13	Real Estate (General/Diversified)	74 days	51.2%	12
14	Healthcare Information and Technology	72 days	48.3%	115
15	Broadcasting	72 days	38.1%	24
16	Telecom Equipment	71 days	58.1%	57
17	Electronics (General)	70 days	26.8%	114
18	Machinery	70 days	37.5%	105
19	Semiconductor Equipment	69 days	46.3%	31
20	Insurance (Prop/Cas.)	68 days	30.2%	57
21	Business & Consumer Services	67 days	33.4%	155
22	Information Services	67 days	34.1%	15
23	Chemical (Specialty)	67 days	35.1%	59
24	Reinsurance	66 days	13.2%	1
25	Rubber & Tires	63 days	18.0%	3
26	Auto Parts	62 days	15.8%	35
27	Software (System & Application)	62 days	71.7%	309
28	Healthcare Products	60 days	54.0%	204
29	Software (Internet)	60 days	62.6%	29
30	Utility (Water)	58 days	59.0%	14
31	Packaging & Container	58 days	24.3%	19
32	Semiconductor	58 days	59.0%	66
33	Environmental & Waste Services	57 days	36.3%	53
34	Construction Supplies	54 days	25.5%	40
35	Publishing & Newspapers	52 days	50.4%	19
36	Hospitals/Healthcare Facilities	52 days	39.1%	31
37	Building Materials	50 days	30.9%	41
38	Furn/Home Furnishings	49 days	30.3%	27
39	Chemical (Diversified)	49 days	15.3%	4
40	Utility (General)	49 days	44.2%	14
41	Software (Entertainment)	48 days	66.5%	77
42	Power	48 days	43.6%	46
43	Retail (Distributors)	47 days	30.6%	62
44	Telecom Services	47 days	58.8%	39
45	Real Estate (Operations & Services)	46 days	32.2%	54
46	Apparel	46 days	56.9%	35
47	Trucking	45 days	21.2%	26
48	Diversified	45 days	25.8%	20
49	Oil/Gas (Integrated)	45 days	36.1%	4
50	Education	44 days	45.8%	32
51	Shoe	44 days	43.9%	11
52	Transportation	44 days	24.1%	19
53	Office Equipment & Services	44 days	41.4%	14
54	Beverage (Soft)	43 days	54.7%	27
55	Shipbuilding & Marine	41 days	27.1%	8
56	Oil/Gas (Production and Exploration)	41 days	57.2%	142
57	Telecom (Wireless)	41 days	63.0%	12
58	Chemical (Basic)	41 days	9.3%	29
59	Steel	40 days	12.3%	19
60	Paper/Forest Products	39 days	17.1%	6
61	Computers/Peripherals	39 days	38.4%	36
62	Hotel/Gaming	38 days	60.9%	63
63	Oilfield Services/Equipment	37 days	11.1%	97
64	Beverage (Alcoholic)	37 days	47.0%	14
65	Recreation	37 days	39.8%	49
66	Entertainment	36 days	41.4%	92
67	Household Products	36 days	51.0%	110
68	Electronics (Consumer & Office)	34 days	38.8%	8
69	Tobacco	33 days	64.3%	10
70	Cable TV	31 days	62.9%	9
71	Oil/Gas Distribution	31 days	43.4%	23
72	Coal & Related Energy	30 days	14.9%	16
73	Farming/Agriculture	30 days	13.1%	35
74	Transportation (Railroads)	29 days	51.0%	4
75	Metals & Mining	29 days	34.7%	73
76	Food Processing	28 days	23.2%	78
77	Healthcare Support Services	25 days	12.1%	104
78	Auto & Truck	23 days	10.4%	33
79	Food Wholesalers	20 days	15.4%	13
80	Restaurant/Dining	19 days	32.2%	64
81	Precious Metals	18 days	55.0%	56
82	Air Transport	15 days	24.8%	23
83	Retail (General)	13 days	33.2%	23
84	Real Estate (Development)	12 days	35.3%	14
85	Retail (Building Supply)	10 days	34.2%	14
86	Retail (Automotive)	10 days	22.0%	34
87	Homebuilding	7 days	22.7%	30
88	Retail (Grocery and Food)	6 days	26.3%	15
89	Retail (Special Lines)	6 days	35.3%	94

Source: Aswath Damodaran, NYU Stern, January 2026. Aggregates over U.S. public companies.

Frequently asked questions

What is a good days to collect?

It depends on the industry: the median across these 89 industries is 46 days, from Retail (Special Lines) (6 days) to Green & Renewable Energy (217 days). Compare a business with its own industry, not with the overall average.

How is the days to collect calculated?

Accounts receivable divided by sales, times 365: about how many days companies in the industry wait to get paid. Banks and lenders are left out, because their loans count as receivables. Each figure is an aggregate: the total across every company in the industry, so larger companies weigh more than in a simple average.

Where does the data come from?

Aswath Damodaran’s datasets at NYU Stern, January 2026, covering thousands of U.S. public companies in 94 industries. It is refreshed each January.

Why are 5 industries missing?

The source has no figure for them on this measure.