I'm trying to write a formula field that determines percent of other fields completed but getting thousands of percents. Why doesn't the below work?

(IF(ISBLANK( TEXT(Industry__c)   ), 0, 1) + IF(ISBLANK( No_of_Employees__c ),
0,1) + IF(ISBLANK(  Number_of_Locations__c  ), 0,1) + IF(ISBLANK(   Cities_of_Locations__c   ), 0,1) + IF(ISBLANK(   TEXT(Current_Carrier__c)   ), 0,1) + IF(ISBLANK(   Factors__c   ), 0,1) + IF(ISBLANK(   Pain__c   ), 0,1) + IF( Number_of_Locations__c  = 1, 0,1)) * 12.5