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  • Editions
  • Methodology
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Industrial Patterns

Industrial PatternsIndustrial PatternsIndustrial Patterns

Modules

Industrial Patterns is organized as three modules. Each module is defined by a single empirical question and a descriptive scope. The modules do not overlap and are intended to be read independently. Modules are built for the diligence process — see where industry benchmarks and structural references fit in a buy-and-build strategy in mid-market US industries. Every edition is federally sourced and vintage-stamped, independently reproduced from the raw data before it locks, and shipped with a machine-readable data companion.

Operating Benchmarks

An annual reference describing the operating economics of a defined US industry peer set — how it earns its margin, how it uses labor, how much capital it ties up, and how its costs are structured — with a current-conditions overlay covering the months after the structural year. Each edition applies a fixed analytical framework — four metric families: margin behavior, labor economics, capital efficiency, and cost structure — to observed operating data drawn from federal sources. Metrics are presented as distributions across the peer set with explicit interpretation boundaries.

Percentile distribution — p10, median, p90 — of operating metrics across a peer set.

Industry Structure Reference

A descriptive reference on the structural condition of US industries, anchored to the U.S. Economic Census. First Editions are available across the published industries. Each edition serves across the five-year census cycle. The reference describes industry structure across seven-to-ten dimensions: how many firms and establishments exist and how the population is composed; how firms and establishments are distributed by size; how concentrated ownership of activity is; how the establishment population enters and exits; where activity is located; how the population is composed by legal form; and how labour is structured. Each dimension is presented as a distribution across the peer set, not a single average.

Firm-size distribution showing an industry's structural shape and fragmentation.

Add-On Density Atlas

The Add-On Density Atlas maps where the universe of establishments in each peer-set NAICS code sits across the United States, and how that footprint has drifted over the trailing five years (with a three-year window added for industries where recent movement diverges from the longer trend). It is the spatial complement to the Operating Benchmarks (which describe the distribution of operating outcomes) and the Industry Structure Reference (which describes the structural context). Together the three modules answer how a peer set performs, how it is structured, and where it is.


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US map with graduated dots showing establishment density by market.

Industrial Patterns is published by Green Shoot Research, an imprint of Green Shoot Capital Corp. 

Materials are provided for informational and research purposes only and do not constitute investment, legal, tax, accounting, or operational advice.

© 2026 Green Shoot Capital Corp. Calgary, Alberta, Canada. All rights reserved.

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References

Glossary · Sources · NAICS Codes · Industry Reference · PE Diligence · Buy-and-Build

US Building Materials · US HVAC & Plumbing · US Specialty Trade Contractors

Operating Benchmarks · Industry Structure · Add-On Density

Contact · LinkedIn

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