Consensus Forward 12-Month S&P 500 EPS Equal-weight S&P 500 prices and EPS have risen steadily together. Earnings are still doing the heavy lifting, but the gains are uneven and increasingly concentrated in a handful of companies and sectors. Image: Goldman Sachs Global Investment Research
Contribution to S&P 500 EPS Growth S&P 500 earnings are riding a strong tailwind from booming energy profits and tight AI chip supply, with semiconductor stocks responsible for nearly half of Q2 2026 growth. Image: J.P. Morgan Asset Management
Estimated S&P 500 EPS and Y/Y Growth Goldman Sachs is betting the earnings strength has legs, forecasting S&P 500 EPS growth of 24% in 2026 to $340, followed by 13% in 2027 to $385. If that plays out, it is hard to see equities lagging. Image: Goldman Sachs Global Investment Research
Equity Fund Flows vs. S&P 500 EPS Growth Investors are pouring into equities on the back of solid earnings momentum. As long as earnings hold up, the trend should carry on. Image: Deutsche Bank Asset Allocation
2026 S&P 500 EPS Revisions Analysts typically cut S&P 500 EPS forecasts as the fiscal year unfolds. This year is different. Estimates are moving higher, lifted by AI enthusiasm and reinforced by confident guidance. The playbook is shifting. Image: Real Investment Advice
U.S. ISM Manufacturing Index vs. S&P 500 EPS Annual % Change With the ISM Manufacturing Index and S&P 500 earnings growth moving hand in hand, either ISM climbs into the high 50s as the cycle heats up, or earnings estimates reset lower. At this point in the cycle, the revisions tend to come first. Image:…
Equity Positioning and S&P 500 EPS Growth Equity positioning is bracing for a sharp earnings slowdown, but recent data are undermining that story. If the gloom fades, risk appetite may rebound fast and lift stocks. Image: Deutsche Bank Asset Allocation
Estimated Share of S&P 500 EPS Growth AI infrastructure spending is expected to drive about 40% of S&P 500 earnings growth this year, and around 28% in 2027. It’s a strong tailwind for profits today, but one that leaves the market increasingly dependent on it. Image: Goldman Sachs Global Investment Research
U.S. GDP vs. S&P 500 EPS With GDP growth and S&P 500 earnings moving in lockstep, vigilance is warranted. Valuations are lofty, forecasts are rosy, and history shows that when the economy cools, earnings don’t stay hot for long. Image: Real Investment Advice
S&P 500 EPS Growth Analysts project 7% year-over-year earnings growth for the S&P 500 in both Q3 and Q4 of 2025. Image: Goldman Sachs Global Investment Research
Bottom-Up Consensus S&P 500 EPS Estimates Bottom-up consensus estimates show S&P 500 EPS growth slowing to 4% year-over-year in Q2 2025, highlighting a cautious earnings environment amid ongoing revisions and sector challenges. Image: Goldman Sachs Global Investment Research