Musings on Markets
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Data Update 1 for 2025: The Draw (and Danger) of Data
The author has been collecting and analyzing data on publicly traded companies for the past four decades, and is now sharing the latest update for 2025. The data is used to compute industry statistics, which can be accessed through links provided in the post. However, the author cautions that data can be both useful and misleading, and should be used with care. Data can be used for fact-checking and to discern truth from fiction, as well as to acknowledge uncertainty and noise in predictions. The author also notes that data can be biased and that past performance is not always a reliable indicator of future performance. The dataset includes all publicly traded companies listed at the start of 2025, with a market price available, totaling 47810 firms. The data is drawn from various sources, including S&P Capital IQ, Bloomberg, and FRED, and is broken down by geography and sector. The author reports industry-average statistics for a range of variables, including risk, profitability, leverage, and dividend metrics, and provides links to access the data. The data was compiled in the last four days and reflects information available at the start of 2025, with market numbers current and accounting information updated quarterly. The author notes that the data will age over time, but can still be useful for certain purposes, such as computing accounting ratios.