Valuation: S&P 500 Sectors & Industries Forward P/Es

Transcription

1 Valuation: S&P Sectors & Industries Forward P/Es February, 16 Dr. Edward Yardeni Joe Abbott Mali Quintana Please visit our sites at www. blog. thinking outside the box

2 Table Of Contents Table Of Contents S&P Sector Forward P/Es 1-2 Consumer Discretionary Forward P/Es 3-4 Consumer Staples Forward P/Es Energy Forward P/Es 6 Financials Forward P/Es 7 Health Care Forward P/Es 8 Industrials Forward P/Es 9 Information Technology Forward P/Es Materials Forward P/Es 11 Telecommunication Services & Utilities Forward P/Es 12 February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

3 3 Figure 1. S&P FORWARD P/E RATIOS* S&P Sector Forward P/Es 3 S&P Index (.4) Consumer Staples (19.8) Financials (12.) Health Care (14.4) Figure 2. S&P FORWARD P/E RATIOS* 4 S&P Index (.4) Consumer Discretionary (16.7) Information Technology (.) Page 1 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

4 4 3 S&P Sector Forward P/Es Figure 3. S&P FORWARD P/E RATIOS* S&P Index (.4) Energy (.) Industrials (14.3) Materials (.) Figure 4. S&P FORWARD P/E RATIOS* S&P Index (.4) Telecommunication Services (13.) Utilities (16.6) Page 2 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

5 4 Figure. Consumer Discretionary Forward P/Es S&P FORWARD P/E RATIOS* CONSUMER DISCRETIONARY 4 3 Consumer Discretionary Sector (16.7) Advertising (.6) Auto Parts & Equipment (9.3) Automobile Manufacturers (7.) Publishing (21.) P/E capped at 7 and 3 for all industries. 4 3 Figure 6. S&P FORWARD P/E RATIOS:* CONSUMER DISCRETIONARY Consumer Discretionary Sector (16.7) Casinos & Gaming (19.) Hotels, Resorts & Cruise Lines (13.) Movies & Entertainment (13.9) Restaurants (24.4) P/E capped at for all industries. Page 3 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

6 3 Consumer Discretionary Forward P/Es Figure 7. S&P FORWARD P/E RATIOS:* CONSUMER DISCRETIONARY Consumer Discretionary Sector (16.7) Apparel, Accessories, & Luxury Goods (17.6) Apparel Retail (19.) Footwear (26.1) Leisure Products (.4) Figure 8. S&P FORWARD P/E RATIOS:* CONSUMER DISCRETIONARY Consumer Discretionary Sector (16.7) Homebuilding (.4) Computer & Electronics Retailers (8.8) Household Appliances (9.) Home Improvement Retailers (18.8) P/E capped at and for all industries. Page 4 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

7 Figure 9. Consumer Staples Forward P/Es S&P FORWARD P/E RATIOS:* CONSUMER STAPLES 3 Consumer Staples Sector (19.8) Household Products (21.) Packaged Foods (.3) Personal Products (.) Figure. S&P FORWARD P/E RATIOS:* CONSUMER STAPLES 4 3 Consumer Staples Sector (19.8) Brewers (23.8) Drug Retail (16.1) Soft Drinks (.9) Tobacco (19.7) Page / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

8 Energy Forward P/Es 4 Figure 11. S&P FORWARD P/E RATIOS:* ENERGY 4 3 Energy Sector (.) Integrated Oil & Gas (33.1) Oil & Gas Refining & Marketing (9.) P/E capped at. for all industries. Figure 12. S&P FORWARD P/E RATIOS:* ENERGY 4 4 Energy Sector (.) 3 Oil & Gas Drilling (21.7) Oil & Gas Equipment & Services (38.) Oil & Gas Exploration & Production (NA) P/E capped at and 4 for all industries. Page 6 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

9 22 Figure 13. S&P FORWARD P/E RATIOS:* FINANCIALS Financials Forward P/Es Financials Sector (12.) Asset Management & Custody Banks (11.8) Diversified Banks (9.3) Investment Banking & Brokerage (9.7) Other Diversified Financial Services (.) Regional Banks (.) P/E capped at for all industries. Figure 14. S&P FORWARD P/E RATIOS:* FINANCIALS Financials Sector (12.) Insurance Brokers (14.1) Life & Health Insurance (7.3) Multi-Line Insurance (.4) Property & Casualty Insurance (11.7) Page 7 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

10 7 Figure. S&P FORWARD P/E RATIOS:* HEALTH CARE Health Care Forward P/Es 7 6 Health Care (14.4) Biotechnology (12.2) Health Care Equipment (17.1) Managed Health Care (13.8) Figure 16. S&P FORWARD P/E RATIOS:* HEALTH CARE Health Care (14.4) Health Care Distributors (13.4) Health Care Facilities (12.) Pharmaceuticals (.2) P/E capped at 7 and 3 for all industries. Page 8 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

11 3 Industrials Forward P/Es Figure 17. S&P FORWARD P/E RATIOS:* INDUSTRIALS Industrials Sector (14.3) Construction Machinery & Heavy Trucks (14.1) Industrial Conglomerates (18.4) Industrial Machinery (14.8) Figure 18. S&P FORWARD P/E RATIOS:* INDUSTRIALS Industrials Sector (14.3) Aerospace & Defense (.) Electrical Components & Equipment (14.2) Environmental & Facilities Services (19.8) * Price divided by 12-month forward consensus expected operating earnings per share using mid-month data. Page 9 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

12 6 4 Information Technology Forward P/Es Figure 19. S&P FORWARD P/E RATIOS:* INFORMATION TECHNOLOGY Information Technology Sector (.) Application Software (34.8) Data Processing & Outsourcing (21.) IT Consulting & Other Services (12.) Systems Software (16.4) P/E capped at 7 and for all industries. 6 4 Figure. S&P FORWARD P/E RATIOS:* INFORMATION TECHNOLOGY Information Technology Sector (.) Semiconductors (13.4) Communications Equipment (.4) Technology Hardware, Storage & Peripherals (.) Semiconductor Equipment (12.8) P/E capped at 7 and 4 for all industries. Page / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

13 4 3 Materials Forward P/Es Figure 21. S&P FORWARD P/E RATIOS:* MATERIALS Materials Sector (.) Aluminum (19.1) Paper Products (9.9) Steel (18.8) P/E capped at and for all industries. Figure 22. S&P FORWARD P/E RATIOS:* MATERIALS Materials Sector (.) Diversified Chemicals (14.6) Industrial Gases (18.7) Specialty Chemicals (18.8) Page 11 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

14 Telecommunication Services & Utilities Forward P/Es Figure 23. S&P FORWARD P/E RATIOS:* TELECOMMUNICATION SERVICES Telecommunication Services Sector (13.) Integrated Telecommunication Services (12.9) Figure 24. S&P FORWARD P/E RATIOS:* UTILITIES Utilities Sector (16.6) Electric Utilities (16.3) Gas Utilities (.8) Page 12 / February, 16 / Valuation: S&P Sectors & Industries Forward P/Es www.

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