After-Tax Corporate Profits as a Share of GDP
After-Tax Corporate Profits as a Share of GDP Profit margins have risen sharply to an all-time high in the third quarter of 2021. Image: Goldman Sachs Global Investment Research
Corporate Profits – S&P 500 Index Trailing 12-Mo. Operating Margin and U.S. CPI Less U.S. PPI
Corporate Profits – S&P 500 Index Trailing 12-Mo. Operating Margin and U.S. CPI Less U.S. PPI The gap between CPI and PPI is deeply negative. Are U.S. coporate profits at risk in the next 12 months? Image: Morgan Stanley Wealth Management
Valuation – U.S. Equity Market Cap to GDP and U.S. Corporate Profits to GDP
Valuation – U.S. Equity Market Cap to GDP and U.S. Corporate Profits to GDP Is the U.S. stock market expensive? The U.S. equity market capitalization to GDP ratio hits a new all-time high. Image: Goldman Sachs Global Investment Research
Corporate Profits After Tax vs. S&P 500
Corporate Profits After Tax vs. S&P 500 Do valuations still matter? The gap between the S&P 500 and corporate profits after tax remains very wide. Image: Real Investment Advice
Share of U.S. Corporate Profits from Foreign Markets
Share of U.S. Corporate Profits from Foreign Markets 21% of U.S. corporate profits currently come from foreign markets. Image: Goldman Sachs Global Investment Research
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
S&P 500 Index vs. U.S. Corporate Profits After Tax Index
S&P 500 Index vs. U.S. Corporate Profits After Tax Index Do valuations still matter? This chart puts into perspective the wide divergence between the S&P 500 and U.S. corporate profits after tax. Image: Morgan Stanley Research
Global Corporate Profits, Level and Cumulative Loses
Global Corporate Profits, Level and Cumulative Loses J.P. Morgan expects global corporate profits to fall by about 70% in the first half of 2020. Image: J.P. Morgan
S&P 500 vs. Corporate Profits After Tax
S&P 500 vs. Corporate Profits After Tax The current divergence between the S&P 500 and corporate profits after tax is the widest on record. It is possible to close the gap “down” with a recession. Image: Real Investment Advice
U.S. Corporate Profits and 10Y-3M Yield Curve
U.S. Corporate Profits and 10Y-3M Yield Curve While the divergence between large-cap profits and the rest of the economy is the widest on record, the steepening yield curve suggests an earnings rebound. Image: BofA Global Research