The Idiot Index

← Back to dashboard
Sector
Labor ShareApplied to chemicals, industrial gases, mining, metals, and packaging companies. COGS captures raw material extraction, refining, and primary processing — this sector is the "stuff that becomes other stuff" layer of the economy. Markup ratios are cyclical with commodity input…
OrderHighest first

Labor Share in Materials & Chemicals · FY 2023

22 of 38 companies · highest first
  1. 1
    VMCVulcan Materials
    28¢ of every $1 of revenue reaches workers
    sector median 0.1384Bottom 2%
    0.2808
    of revenue → workers
  2. 2
    ATRAptarGroup
    27¢ of every $1 of revenue reaches workers
    sector median 0.1384Bottom 7%
    0.2735
    of revenue → workers
  3. 3
    ECLEcolab
    27¢ of every $1 of revenue reaches workers
    sector median 0.1384Bottom 11%
    0.2663
    of revenue → workers
  4. 4
    AXTAAxalta
    24¢ of every $1 of revenue reaches workers
    sector median 0.1384Bottom 16%
    0.2427
    of revenue → workers
  5. 5
    MLMMartin Marietta
    23¢ of every $1 of revenue reaches workers
    sector median 0.1384Bottom 20%
    0.2253
    of revenue → workers
  6. 6
    CLFCleveland-Cliffs
    21¢ of every $1 of revenue reaches workers
    sector median 0.1384Bottom 25%
    0.2055
    of revenue → workers
  7. 7
    SHWSherwin-Williams
    20¢ of every $1 of revenue reaches workers
    sector median 0.1384Median range
    0.1994
    of revenue → workers
  8. 8
    AAAlcoa
    14¢ of every $1 of revenue reaches workers
    sector median 0.1384Median range
    0.1444
    of revenue → workers
  9. 9
    EMNEastman Chemical
    14¢ of every $1 of revenue reaches workers
    sector median 0.1384Median range
    0.1426
    of revenue → workers
  10. 10
    FCXFreeport-McMoRan
    14¢ of every $1 of revenue reaches workers
    sector median 0.1384Median range
    0.1398
    of revenue → workers

Not yet covered (16)

These companies are in the Materials & Chemicals cohort but don't have a Labor Share computed for FY 2023. Either the underlying inputs aren't tagged in their XBRL filings, the DEF 14A pay-ratio narrative didn't parse cleanly, or this fiscal year hasn't been ingested for them yet.

What this measures

Full methodology →

How much of every revenue dollar reaches workers.

Ratio
Labor Share
Sector
Materials & Chemicals
Methodology version
v1.0.0
Formula
TotalEmployeeCompensation / Revenue
Sector context

Applied to chemicals, industrial gases, mining, metals, and packaging companies. COGS captures raw material extraction, refining, and primary processing — this sector is the "stuff that becomes other stuff" layer of the economy. Markup ratios are cyclical with commodity input costs; sector medians are the right comparison. Shareholder Extraction is informative because materials companies face structural choices between buybacks and reinvestment in capacity.

How much of revenue flows to the people creating it. Includes wages, salaries, benefits, and stock-based compensation.

When direct disclosure is missing: approximated as Headcount × Median Pay × 1.30 (1.30 grosses up base pay to fully-loaded compensation including benefits and equity). The approximation is documented per company on its detail page.

Source data: LaborAndRelatedExpense, ShareBasedCompensation (us-gaap), or EmployeeBenefitsExpense (ifrs-full). When approximated: NumberOfEmployees × disclosed median compensation.