Valuations - S&P 500 12-Month Fwd P/E Multiple - Top 5 Largest Stocks vs. Other 495 Stocks

After nearly a decade of commanding sky-high multiples, the five largest U.S. stocks have lost their valuation premium, with average P/Es barely above the rest of the S&P 500.

Image: Goldman Sachs Global Investment Research

Valuations - S&P 500 12-Month Fwd P/E Multiple - Top 5 Largest Stocks vs. Other 495 Stocks