Summary of Global Exposure Guide 2025 – US Industry Overview - The report focuses on the North American market, specifically analyzing the revenue exposure of 998 US and Canadian companies to various global regions, particularly in the context of geopolitical tensions and economic volatility [2][12]. Key Findings Revenue Exposure - Companies in the North America database derive **26%** of their revenue from foreign sources, with the largest share coming from **Europe (11%)**, followed by **Asia ex-Japan & ex-China (4%)**, **Latin America (4%)**, and **China (3%)** [3][14]. - The sectors with the highest foreign revenue exposure are: - **Technology (55%)** - **Materials (48%)** - **Industrials (30%)** [18][29]. Geographic Revenue Exposure - The geographic breakdown of revenue exposure is as follows: - **US & Canada**: **74%** - **Europe**: **11%** - **Middle East & Africa**: **1%** - **China**: **3%** - **Japan**: **2%** - **Asia ex-Japan & China**: **4%** - **Latin America**: **4%** [5][16]. Sector and Industry Group Insights - The **Tech Hardware & Equipment** industry group has the highest foreign revenue exposure at **59%**, followed by **Household & Personal Products (50%)** and **Food, Beverage & Tobacco (44%)** [18][35]. - **Utilities** have the lowest foreign revenue exposure at **5%** [18]. End Demand Analysis - The primary sources of revenue are: - **Consumers**: **50%** - **Corporations**: **39%** - **Government**: **11%** [20][21]. - Domestic consumers account for **73%** of revenue exposure, while consumers from the rest of the world contribute **18%** [20]. Cost Exposure - Approximately **79%** of companies incur **50% or more** of their costs in North America, with **Asia Pacific** being the next largest cost center [24]. Additional Insights - The report emphasizes the importance of understanding both revenue and cost exposures, especially in light of recent global events that have impacted supply chains [22][12]. - The data is based on estimates from Morgan Stanley analysts and is not available elsewhere, providing a unique perspective on the foreign revenue exposure of companies [12][26]. Conclusion - The Global Exposure Guide serves as a critical resource for investors to assess the potential risks and opportunities associated with foreign revenue exposure, particularly in a multipolar world where geopolitical dynamics are shifting [2][12].