Not exact matches
The following
chart illustrates the current disconnect, and presents the market's price / revenue, price / book, price / dividend, and enterprise value / EBITDA multiples, scaled by their historical relationship to the S&P 500 price /
peak earnings multiple.
Oh, and in the two years following the end of this particular
chart, the price /
peak earnings multiple on the S&P 500 fell in half.
This
chart is consistent with the valuation assessment of P / E ratios that are based on
peak earnings, multi-year averages of
earnings, or
earnings that take into account the duration and extent of the
earnings cycle.
This
chart from April 30 demonstrated that the stock market
peaks AFTER
earnings growth has already
peaked.