North American Industry Classification System (naics)

Top-Down NAICS Hierarchy ⇓

NAICS [2012]  →  Sector  →  Subsector  →  Industry Group  →  Industry  ⇒  SIC [1987]  →  Registrants

NAICS Code		N.A. Sector		NAICS Codes
				(3-digit)
11		Agriculture, Forestry, Fishing and Hunting		5
21		Mining, Quarrying, and Oil and Gas Extraction		3
22		Utilities		1
23		Construction		3
31		Manufacturing		6
32		Manufacturing  (continued)		7
33		Manufacturing  (continued)		8
42		Wholesale Trade		3
44		Retail Trade		8
45		Retail Trade  (continued)		4
48		Transportation and Warehousing		8
49		Transportation and Warehousing  (continued)		3
51		Information		6
52		Finance and Insurance		5
53		Real Estate and Rental and Leasing		3
54		Professional, Scientific, and Technical Services		1
55		Management of Companies and Enterprises		1
56		Administrative and Support and Waste Management and Remediation Services		2
61		Educational Services		1
62		Health Care and Social Assistance		4
71		Arts, Entertainment, and Recreation		3
72		Accommodation and Food Services		2
81		Other Services (except Public Administration)		4
92		Public Administration		8

The SIC↓, NAICS↓, GICS↓ and ICB↓ Industry Classification Standards

U.S. Standard Industrial Classification (sic) 

SIC is an old U.S. statistical classification standard underlying all establishment-based Federal economic statistics classified by industry.  The SIC, most recently as SIC version [1987], was used to promote the comparability of establishment data describing various facets of the U.S. economy.  The classification covered the entire field of economic activities at that time and defined industries in accordance with the composition and structure of the U.S. economy.  It was first published as SIC [1938-40], and was then updated periodically as SIC ..., [1957], [1967], ..., and [1987].  In the SIC methodology, the letter (A-K) or the number of digits (2-6) in the Code indicates the classification hierarchy tier, as follows: SIC Tiers:  Divisions   Major Groups   Industry Groups   Industries   Businesses Products  Codes:   1 letter 2 digits 3 digits 4 digits  5 digits 6 digits  Totals:  [1987]   Totals:  [SEC] 11 11 83 75 505 282 1,504    444 — 15,219 — —   5,553 — The SEC uses a modified subset of the SIC [1987] Industry Codes as its standard.  The Industry Codes subset that the SEC uses has only 430 (29%) of the 1,504 official SIC [1987] 4-digit Industry Codes, plus 14 unique SEC-specific Codes, so it is identified herein as “SIC [SEC]”.  The SIC [SEC] Code that appears in a company’s disseminated EDGAR Filings indicates the basic type of business the company is in.  The Code is used by the SEC Filings-Review Offices (FROs) as a basis for assigning review responsibility for a company’s Filings.  (For details, see the SEC’s Division of Corporation Finance:  Standard Industrial Classification (SIC) Code List.)  Because SIC [SEC] contains only a small fraction of the SIC [1987] Codes, SEC Info℠ parses all SEC Filings for all SIC [1987] Codes, in order to show more accurately and completely how Registrants classify themselves.  As used in Financial Reporting, see “Industry... [sec] (sic)” in Standard xbrl Taxonomies used in SEC Filings.

North American Industry Classification System (naics)  / /

NAICS is a newer North American standard used by Federal agencies, such as the IRS, in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the North American economy.  The NAICS, updated as NAICS version [2012], was developed under the auspices of the U.S. Office of Management and Budget (OMB) to replace SIC [1987].  It was developed jointly by the OMB, Canada and Mexico to allow for a high level of comparability in business statistics among the North American countries.  It was first published as NAICS [1997], and was then updated every five years as NAICS [2002], [2007], ..., and [2012].  In the NAICS methodology, the number of digits (2-6) in the Code indicates the classification hierarchy tier, as follows: NAICS Tiers:  Sectors   Subsectors   Industry Groups   Industries   Businesses Products  Codes:   2 digits 3 digits 4 digits 5 or 6 digits  – –  Totals:  [2012]   [2007]   24 24 99 99 312 313 713 or 1,065 721 or 1,175 — 19,255 — — 19,720 — To make SIC and NAICS usage interoperable, SEC Info℠ cross-references SIC [1987] with NAICS [2012] and presents both standards herein, mapping each SIC Code and NAICS Code to one or more of its counterparts.  As used in Financial Reporting, see “Industry... [omb] (naics)” in Standard xbrl Taxonomies used in SEC Filings.

Global Industry Classification Standard (gics)    S&P DJI  /  MSCI 

GICS is the industry classification system jointly developed by Standard & Poor’s Financial Services LLC and MSCI Inc. in 1999.  GICS® was developed in response to the financial community’s need for one complete and consistent set of global sector and industry definitions, and it has become the standard widely recognized by market participants worldwide.  It sets a foundation for the creation of replicable and custom-tailored indexes and portfolios, and enables meaningful comparisons of sectors and industries.  GICS is a four-tiered, hierarchical classification system, as follows: GICS Tiers:   Sectors     Industry Groups     Industries     Sub-Industries   Codes:   2 digits 4 digits 6 digits 8 digits Totals:  [2023]       [2018]           11     ⇓ 25 24 74 69 163 158 Energy       Materials       Industrials       Consumer Discretionary       Consumer Staples       Health Care  Financials          Information Technology          Communication Services          Utilities          Real Estate  The GICS methodology is an industry analytical framework for investment research, portfolio management, asset allocation and index formation.  Companies are classified both quantitatively and qualitatively.  Each company is assigned to only one GICS classification at the Sub-Industries level according to its principal business activity.  S&P Dow Jones Indices and MSCI use revenues as a key factor in determining a firm’s principal business.  Earnings and market are also recognized as important and relevant information for classification purposes.

Industry Classification Benchmark (icb)    FTSE Russell 

ICB is the newest comprehensive and rules-based transparent classification methodology based upon research and market trends designed to support investment solutions.  It was jointly developed by FTSE Russell (a business of London Stock Exchange Group plc) and Dow Jones Indices in 2005, but DJI divested its interest in 2011 in order to partner with S&P on GICS.  ICB was enhanced in 2019 with the integration of the Russell Global Sectors (RGS) classification scheme and additional structural enhancements.  It is used by stock exchanges globally to categorize listed companies, including London Stock Exchange, Nasdaq OMX , NYSE Group , Euronext, Johannesburg Stock Exchange, SIX Swiss Exchange, Borsa Italiana, Athens Exchange, Cyprus Stock Exchange and Boursa Kuwait.  ICB is a four-tiered, hierarchical classification system, structurally identical to GICS albeit with some different nomenclature, as follows: ICB Tiers:   Industries     Supersectors     Sectors     Subsectors   Codes:   2 digits 4 digits 6 digits 8 digits Totals:  [2019]       11     20 45 173 Technology         Telecommunications         Health Care         Financials         Real Estate         Energy  Consumer Discretionary          Consumer Staples          Industrials          Basic Materials          Utilities   Note:  SEC Info℠ maps these ICB Industries to GICS Sectors, since they are essentially the same.  ICB is supported by an independent external advisory committee that is comprised of top industry sector market practitioners.  It leverages the FTSE Russell governance process, capturing collective perspectives and insights from industry experts around the world.  Each company is assigned to only one ICB classification at the Subsectors level based on a transparent research process that determines the nature of its business, which includes assessment of revenue-source data and other publicly available information.