Stock Market Briefing: Selected P/E Ratios

Stock Market Briefing: Selected P/E Ratios

Yardeni Research, Inc.

November 18, 2022

Dr. Edward Yardeni

516-972-7683 eyardeni@

Joe Abbott

732-497-5306 jabbott@

Mali Quintana

480-664-1333 aquintana@

Please visit our sites at blog.

thinking outside the box

Table Of Contents Table Of Contents

Median Forward P/E: S&P 500 Forward P/E: Russell 2000 P/E & PEG: S&P 500 Trailing P/E P/E Forward P/E: Growth vs Value Miscellaneous

4 5 6 7 8-9 10-11 12-18

November 18, 2022 / Stock Market Briefing: Selected P/E Ratios

Yardeni Research, Inc.



Figure 1.

30

30

28 FORWARD P/E RATIOS FOR S&P INDEXES*

28

(daily)

26

26

24

24

22

S&P 500 LargeCap (17.3)

22

20

20

18

18

11/18

16

16

14

14

12

12

10

10

8

8

99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

24

24

22

22

20

S&P 400 MidCap (13.3)

20

18

18

16

16

14

14

11/18

12

12

10

10

8

8

99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

28

28

26

26

24

24

S&P 600 SmallCap (12.6)

22

22

20

20

18

18

16

16

14

14

11/18

12

12

10

10



8

8

99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

* Price divided by 52-week forward consensus expected operating earnings per share. Note: Shaded red areas are S&P 500 bear market declines of 20% or more. Blue shaded areas are correction declines of 10% to less than 20%. Yellow areas are bull markets. Source: I/B/E/S data by Refinitiv and Standard & Poor's.

Page 1 / November 18, 2022 / Stock Market Briefing: Selected P/E Ratios

Yardeni Research, Inc.



Figure 2.

32

32

FORWARD P/E RATIOS FOR S&P 500 INDEXES*

(weekly)

28

28

24

24

S&P 500 LargeCap (17.4)

20

20

11/11

16

16

12

12

8

8

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

24

24

20

S&P 400 MidCap (13.4)

20

16

16

11/11

12

12

8

8

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

28

28

24

24

S&P 600 SmallCap (12.8)

20

20

16

16

11/11

12

12



8

8

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

* Weekly stock price index divided by 52-week forward consensus expected operating earnings per share Note: Shaded red areas are S&P 500 bear market declines of 20% or more. Yellow areas show bull markets.

Source: I/B/E/S data by Refinitiv and Standard & Poor's.

Page 2 / November 18, 2022 / Stock Market Briefing: Selected P/E Ratios

Yardeni Research, Inc.



Figure 3.

28

28

FORWARD P/E RATIOS FOR S&P STOCK PRICE INDEXES*

26

(daily)

26

24

24

S&P Forward P/Es

22

S&P 500 (17.3)

22

S&P 400 (13.3)

20

S&P 600 (12.6)

20

18

18

11/18

16

16

14

14

12

12

10

10



8

8

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

* Daily stock price index divided by 52-week forward consensus expected operating earnings per share. Note: Shaded red areas are S&P 500 bear market declines of 20% or more. Blue shaded areas are correction declines of 10% to less than 20%. Yellow areas are bull markets. Source: Standard & Poor's and I/B/E/S data by Refinitiv.

Figure 4.

30

30

FORWARD P/E RATIOS FOR S&P INDEXES*

28

(weekly)

28

26

26

Foward P/E Ratios

24

S&P 500 LargeCap (17.4)

24

S&P 400 MidCap (13.4)

22

S&P 600 SmallCap (12.8)

22

20

20

18

18

11/11

16

16

14

14

12

12

10

10



8

8

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

* Price divided by 52-week forward consensus expected operating earnings per share. Note: Shaded red areas are S&P 500 bear market declines of 20% or more. Yellow areas show bull markets. Source: I/B/E/S data by Refinitiv.

Page 3 / November 18, 2022 / Stock Market Briefing: Selected P/E Ratios

Yardeni Research, Inc.



 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download