S&P 500 EPS vs. U.S. NIPA Corporate Profits

S&P 500 EPS vs. U.S. NIPA Corporate Profits This chart puts into perspective the wide divergence between S&P 500 EPS and U.S. NIPA corporate profits. Image: BofA Research Investment Committee

U.S. Economic Growth vs. S&P 500 EPS Growth

U.S. Economic Growth vs. S&P 500 EPS Growth Goldman Sachs expects a rebound in earnings similar to the 2009-2010 period. Image: Goldman Sachs Global Investment Research

Annual S&P 500 EPS Growth Through 2022

Annual S&P 500 EPS Growth Through 2022 Goldman Sachs expects S&P 500 earnings to contract by 21% this year, before rebounding by 30% in 2021 and 11% in 2022. Image: Goldman Sachs Global Investment Research

S&P 500 EPS vs. Trend

S&P 500 EPS vs. Trend S&P 500 earnings remain above the trend line. Image: J.P. Morgan

S&P 500 EPS Estimates

S&P 500 EPS Estimates Goldman Sachs is more bearish than consensus and expects earnings to fall by 60% in Q2 2020. Image: Goldman Sachs Global Investment Research

Top-Down S&P 500 EPS Estimates

Top-Down S&P 500 EPS Estimates Goldman Sachs baseline forecast for S&P 500 earnings is now $115 this year, $170 in 2021, and $188 in 2022. Image: Goldman Sachs Global Investment Research

S&P 500 EPS Estimates for 2020 and 2021

S&P 500 EPS Estimates for 2020 and 2021 In a downside scenario, S&P 500 EPS could fall to $70 in 2020 and reach $115 in 2021. Image: Goldman Sachs Global Investment Research

S&P 500 EPS Growth vs. Buyback Growth

S&P 500 EPS Growth vs. Buyback Growth This chart shows the historical correlation between S&P 500 EPS growth and buyback growth (R² = 0.32). Goldman Sachs expects buybacks to fall by 50% during 2020 and EPS by 33%. Image: Goldman Sachs Global Investment Research