Global Exposure Guide 2026 US

This report provides a comprehensive guide to foreign revenue and cost exposure for US and Canadian companies. It utilizes Morgan Stanley's proprietary database to highlight regional dependencies by sector, industry group, and individual stock.

Key Takeaways

• 1.US and Canadian companies in the database derive 27% of their revenue from foreign sources, with Europe being the largest single foreign source at 12%.
• 2.Foreign revenue exposure is highly concentrated in cyclical sectors like Technology (54%) and Materials (47%), whereas Utilities have the lowest exposure (4%).
• 3.Approximately 79% of companies in the database incur 50% or more of their production costs in North America, with Asia Pacific being the secondary cost center.

Table of Contents

• Introduction
• A Note on Methodology
• Geographic Revenue Exposure
• Median and Maximum Exposures
• Revenue Exposure to Europe
• Revenue Exposure to China
• Revenue Exposure to Japan
• Revenue Exposure to Asia Pacific ex-Japan and ex-China
• Revenue Exposure to Latin America
• Geographic Cost Exposure
• Disclosure Section
• Analyst Certification
• Global Research Conflict Management Policy
• Important Regulatory Disclosures on Subject Companies
• STOCK RATINGS
• Global Stock Ratings Distribution
• Analyst Stock Ratings
• Analyst Industry Views
• Important Disclosures for Morgan Stanley Smith Barney LLC Customers
• Other Important Disclosures

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