U.S. Corporate Profits, Capital Expenditures, Dividends and Buybacks What would happen if U.S. companies reinvested instead of buying their own shares and paying dividends? Image: Financial Times
Japan Corporate Profits Leads MSCI World EPS This chart suggests that Japan corporate profits leads MSCI World EPS by 7 months. Image: Nordea and Macrobond
S&P 500 and NIPA Corporate Profits After Tax S&P 500 rose relative to NIPA corporate profits after tax, thanks to buybacks. Image: Morgan Stanley
U.S. Yield Curve Leads Corporate Profits This chart suggests that the U.S. 10-year less 3-month yield curve leads corporate profits by two years. Image: Oxford Economics, Macrobond
S&P 500 EPS vs. U.S. Nonfinancial Corporate Profits Creative accounting is imaginative ways to present accounts. The divergences between earnings and U.S. nonfinancial corporate profits occur before recessions. Image: Gavekal, Macrobond
U.S. Corporate Sector Profits vs. CEO Confidence Weak CEO confidence suggests that U.S. corporate profits are at risk. Image: Longview Economics
S&P 500 Quarterly Operating Margin Will S&P 500 corporate profits keep growing? Image: Deutsche Bank Asset Allocation
Inflation – PPI to CPI Spread vs. S&P 500 When the spread between PPI and CPI widens, it does not bode well for corporate profits. Image: Real Investment Advice
U.S. NIPA Profit Margins and Recessions U.S. corporate profits are booming. Image: Oxford Economics
Emerging Markets Exports Value and MSCI Emerging Markets 12m Trailing EPS Chart suggesting that EM corporate profits are linked to the global trade cycle. Image: Gavekal, Macrobond