December 18, 20200Comments

All Cap Analysis: Price to Economic Book Value Rises in 2020

This report analyzes market cap, economic book value, and the price-to-economic book value (PEBV) ratio for the NC 2000 and each of its sectors.

by Alex Sword

December 14, 20200Comments

All Cap Analysis: Free Cash Flow Yield Falls in 2020

This report analyzes free cash flow (FCF), enterprise value, and the FCF yield for the NC 2000 and each of its sectors.

by Kyle Guske II

December 14, 20200Comments

All Cap Analysis: Only One Sector Has a Rising ROIC in 2020

This report analyzes the drivers of economic earnings [ROIC, NOPAT margin, invested capital turns, and WACC] for the NC 2000 and each sector since 1998.

by Matt Shuler

December 9, 20200Comments

All Cap Analysis: Net Income Understates Core Earnings in 2020

This report analyzes Core Earnings for the NC 2000 and each sector since 1998

by Kyle Guske II

December 7, 20200Comments

Three S&P 500 Sectors Trade Below Their Economic Book Value While S&P 500’s PEBV Regains 2019 Highs

This report analyzes market cap, economic book value, and the price-to-economic book value (PEBV) ratio for the S&P 500 and each of its sectors.

by Matt Shuler

December 3, 20200Comments

Four S&P 500 Sectors Have a Rising FCF Yield Through 3Q20

This report analyzes free cash flow, enterprise value, and the FCF yield for the S&P 500 and each of its sectors.

by Matt Shuler

December 2, 20200Comments

Only Two S&P 500 Sectors Have a Rising ROIC Through 3Q20

Only the Consumer Non-cyclicals sector and the Technology sector have seen an improvement in return on invested capital (ROIC) since the end of 2019.

by Matt Shuler

December 2, 20200Comments

Only Three S&P 500 Sector’s Core Earnings Improved in 2020

Within the S&P 500, only the Technology, Consumer Non-cyclicals, and Healthcare sectors saw a rise in Core Earnings since the end of 2019.

by Kyle Guske II

December 2, 20200Comments

S&P 500 Valuation Remains Over Its Skis

Investors clearly expect the COVID-19-induced economic dip to end soon and earnings to reach new highs in the near future.

by Kyle Guske II

October 6, 20200Comments

Only One S&P 500 Sector Trades Below Its Economic Book Value

Analyzing market cap, economic book value, and price-to-economic book value ratio for the S&P 500 and each of its sectors.

by Kyle Guske II

September 28, 20200Comments

Two S&P 500 Sectors Have a Rising FCF Yield Through 1H20

This report analyzes free cash flow (FCF), enterprise value and the FCF yield for the S&P 500 and each of its sectors.

by Kyle Guske II

September 15, 20200Comments

No S&P 500 Sector Has a Rising ROIC Through First Half 2020

This report analyzes the drivers of economic earnings – ROIC, NOPAT margin, invested capital turns and weighted average cost of capital – for the S&P 500 and each of its sectors.

by Kyle Guske II

September 4, 20200Comments

Only One S&P 500 Sector’s Core Earnings Improved This Year

Analyzing the core earnings of each sector to narrow in on which was most impacted by the COVID-19-induced economic downturn.

by Kyle Guske II

September 3, 20200Comments

S&P 500 Peaks As Earnings Trough

With expectations already so high, any setbacks to the recovery will hit the large cap heavy weight stocks driving the S&P 500 hard.

by Kyle Guske II

December 2, 20190Comments

Only One Sector Has A Rising ROIC

The core fundamentals of businesses are declining in nearly every sector. 10 out of 11 sectors have declining returns on invested capital.

by Sam McBride

June 17, 20190Comments

Long-Term Trends Revealed by Our Research on Sector ROIC’s

Our analysis of return on invested capital (ROIC) by sector shows that the market rewards higher ROIC companies with higher valuations.

by Sam McBride