The NAICS and SIC codes are the most commonly used industry classification codes in the United States. These codes categorize companies by their business activity.
By knowing the NAICS and/or SIC code for your company, you will be able to locate information about its industry and competitors in databases, books, and on the Internet.
Financial ratios are often used to compare a company against an industry average or other companies in order to benchmark or measure a company's performance.Industry ratios are often useful when creating the financial components of a business plan.
The following databases to The following library databases are strong resources for industry ratio and industry averages. If industry averages are not included in a particular resource, then you could take an average from a list of companies with the same NAICS or SIC code.