GICS

The Global Industry Classification Standard (GICS) is a globally recognized taxonomy for the systematic classification of listed companies. It was developed in 1999 by MSCI and S&P Dow Jones Indices to create a consistent, comparable structure for capital market analyses. Today, it serves as a central frame of reference for institutional investors, research houses and index-based strategies.
The GICS system classifies companies according to their main economic activities into four levels - sectors, industries, industry groups and sub-industries. The top level, the sector clusters, currently comprises 11 sectors that represent the entire spectrum of global economic activities. This structure is designed to accurately capture both cyclical and defensive, technology-oriented and resource-based business models.

The industry classification according to the Global Industry Classification Standard is an element of the Sector Intelligence of the G11 General Industry Compass System. In contrast to purely balance sheet-oriented classification systems, the GICS system is primarily based on the functional value creation of a company. The decisive factor is where the "economic weight" lies - i.e. the business area that makes the greatest contribution to turnover or profit. This logic means that diversified groups are always assigned to the segment that best reflects their core profile.

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A special feature is the regular review and adjustment of the classifications. This does not take place at fixed intervals, but rather in line with demand, e.g. when technological developments give rise to new business models or existing segments no longer appear to be up to date. A prominent example is the restructuring of the technology sector in 2018, in which large platform companies (Meta, Alphabet, Netflix) were transferred to the newly created Communication Services sector. The classification shown here corresponds to the update of the industries carried out in March 2023.

Reference source: GICS (Link) | Source & author: Copyright © MSCI and S&P Dow Jones Indices

Select Sector Options Other Sector Classifications Cluster Mapping Visualized Insights GICS vs. ICB