Search Results for: multiple

S&P 500 Valuation Multiples S&P 500 valuation multiples remain stretched and well above averages. Image: Goldman Sachs Global Investment Research

Valuation – S&P 500 Forward P/E Multiple and First Hike of Fed Tightening Cycle Historically, the S&P 500 forward P/E remains flat in the 6 months before and after the start of the first Fed hike. Image: Goldman Sachs Global Investment Research

FY2 P/E Multiple of S&P 500 Top and Bottom Sector-Neutral Valuation Quintiles The valuation dispersion for stocks in the S&P 500 is historically high. Image: Goldman Sachs Global Investment Research

Valuation – Consensus FY2 P/E Multiple – Information Technology vs. S&P 500 S&P 500 valuations remain high, particularly info tech stocks. Image: Goldman Sachs Global Investment Research

U.S. Bond Yields vs. S&P 500 Multiples This chart suggests that lower bond yields imply higher S&P 500 multiples. Image: Credit Suisse

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

MSCI ACWI and S&P 500 Forward P/E Multiple This year, the forward P/E multiple for global equities and for the S&P 500 increased by approximately 24%. Historically, multiples contract or remain flat following years of big multiple expansion. Image: Morgan Stanley Research

Multiple Expansion – Year-Over-Year Change in the S&P 500 Forward P/E Since the beginning of the year, the multiple expansion explains the S&P 500 return. Historically, S&P multiples contract or remain flat following years of big multiple expansion. Image: BofA Merrill Lynch US Equity & US Quant Strategy

Russell 2000 Trailing EV/EBITDA Multiples vs. Private Equity EBITDA Multiples This chart shows that private equity multiples are currently higher than public equity multiples. Image: Strategas

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

U.S. Stock Market Bull and Bear Indicator – S&P 500 Two Tuesdays ago, our Stock Market Bull & Bear Indicator was bullish well before the opening bell and the S&P 500 followed through, closing up 0.41%. Using multiple financial data, this great model helps investors navigate through different market conditions. It suggests whether the U.S.…