S&P 500 Annual Return: Dividends, Earnings Growth and Multiple Expansion In 2019, the S&P 500 rose 31.5%. 26.9% came from multiple expansion, 2.6% from dividends, and 2.0% from earnings growth. Historically, S&P multiples contract or remain flat following years of big multiple expansion. Image: Richardson Wealth
Earnings Growth and S&P 500 Rebound in earnings coming in 2020? Analysts expect a 9.5% jump this year. Image: CNBC
S&P 500 Return: Earnings Growth vs. Multiple Expansion Multiple expansion explains the S&P 500’s impressive total return of 31.49% in 2019, despite muted earnings. Image: Strategas
Earnings Growth vs. the S&P 500 Could the S&P 500 continue to outpace the poor earnings performance? Image: CNBC
S&P 500 Earnings Growth Forecast Morgan Stanley is cautious and expects S&P 500 earnings growth to be flat this year. Image: Morgan Stanley Research
Global Earnings Growth Chart showing that the gap between U.S. earnings growth and non-U.S. earnings growth is narrowing. Image: Fidelity Investments
U.S. Earnings Growth in 2020 Chart suggesting that U.S. corporate earnings growth should expand into 2020. Image: LPL Research
S&P 500 Earnings Growth S&P 500 EPS growth could turn negative amid the trade war. Image: Morgan Stanley Research
Earnings Growth and the Fed Cycle Analysts remain optimistic on 2020. This chart shows the expected earnings growth over the next 12 months. Image: Fidelity Investments
U.S. Equities and The World: Earnings Growth vs. Multiple Expansion Since the 2009 low, the strong performance of the U.S. markets comes from earnings growth (73%) and multiple expansion (27%). You may also like “S&P 500 Return: Earnings Growth vs. Multiple Expansion.” Image: Goldman Sachs Global Investment Research