CFO Finsights: While AI Dominated Headlines, These Industries Quietly Got Stronger
AI dominated headlines. New tools. Automation. Predictions about which industries would win and lose.
But the updated 2025 iCFO data revealed a quieter story.
Some of the industries showing improving profitability were not obvious AI beneficiaries at all. While attention focused on disruption, a number of traditional industries quietly improved across Return on Assets (ROA), Return on Sales (ROS), and Return on Investment (ROI).
Traditional Industries Showing Quiet Improvement — 2022 vs. 2025
| Industry | ROA | ROS | ROI |
| Gasoline Stations with Convenience Stores (447190) | 4.7% → 6.3% | 0.7% → 1.2% | 1.0% → 1.7% |
| Department Stores (452111) | 3.2% → 4.7% | 1.1% → 1.6% | 1.5% → 2.2% |
| Radio Networks (515210) | 4.7% → 8.3% | 3.0% → 4.0% | 4.9% → 5.6% |
| Commercial Banking (522110) | 23.4% → 24.5% | 5.1% → 7.0% | 6.5% → 8.9% |
These figures reflect median firm-level performance across each industry — not outliers or top performers.
Not every important shift arrives with headlines. Sometimes industries quietly get stronger while everyone is watching somewhere else.
The 2025 data suggests that the gap between industries generating attention and industries generating returns may be wider than most expect.
Explore the updated 2025 data
You can apply this analysis to your own industry or client base. iCFO benchmarks ROA, ROS, ROI, and 50+ financial metrics across 2,500+ industries using firm-level data from 1M+ U.S. private companies — now updated through 2025.
Source: Analytics by iCFO — analysis of 1M+ U.S. private companies using firm-level financial data, 2022–2025 industry benchmarks.
This analysis is part of the iCFO Finsights series, an ongoing benchmark initiative for advisors, investors, and financial professionals