S&P 500 Financial Ratios - Yardeni Research

1 Corporate Finance Briefing:S&P 500 Financial RatiosYardeni Research , 11, 2019Dr. Ed visit our sites outside the boxTable Of ContentsTable Of ContentsTable Of ContentsAugust 11, 2019 / S&P 500 Financial Ratios Research , 500 Leverage Ratios3S&P 500 Liquidity Ratios4S&P 500 Asset Management Ratios5S&P 500 Other Data6S&P 500 and Sectors Return on Equity7-11S&P 500 Interest 500 LEVERAGE RATIOSL everage RatiosDebt to Assets ( )Debt to Equity ( )Interest Coverage ( )Liabilities to EBITDA ( )Source: Haver Analytics and Standard & Poor s 500 COMPONENTS OF LEVERAGE Ratios (dollars per share)Components of Leverage RatiosLeft scaleTotal Debt ( )Total Assets ( )Long Term Debt ( )Total Equity ( )Right scaleEbitda ( )Interest Expense ( )Cash & Equivalents ( )Source: Haver Analytics and Standard & Poor s 500 Leverage RatiosPage 3 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 LIQUIDITY RATIOSL iquidity RatiosCurrent Ratio ( )Quick Ratio ( )Source.

2 Haver Analytics and Standard & Poor s 500 COMPONENTS OF LIQUIDITY Ratios (dollars per share)Components of Liquidity RatiosLeft scaleCurrent Assets ( )Current Liabilities ( )Right scaleInventory ( )Source: Haver Analytics and Standard & Poor s 500 Liquidity RatiosPage 4 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 ASSET MANAGEMENT RATIOSA sset Management RatiosFixed Asset Turnover ( )Total Asset Turnover ( )Source: Haver Analytics and Standard & Poor s 500 COMPONENTS OF ASSET MANAGEMENT Ratios (dollars per share)Components of Asset Management RatiosFixed Assets ( )Total Assets ( )Sales ( )Source: Haver Analytics and Standard & Poor s 500 Asset Management RatiosPage 5 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 CAPITAL EXPENDITURES(dollars per share)Annual Capex (left scale) ( )Quarterly Capex (right scale) ( )Source: Haver Analytics and Standard & Poor s 500 EFFECTIVE CORPORATE TAX RATE*(percent)Tax Rate ( )* Annual tax rate data through 2017 derived from S&P Analyst Handbook (income tax as percentage of pretax income), quarterly thereafter from S&P Dow Jone : Haver Analytics and Standard & Poor 500 Other DataPage 6 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders : Haver Analytics and Standard & Poor s 500 CONSUMER DISCRETIONARY RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders.

3 Haver Analytics and Standard & Poor s 500 and Sectors Return on EquityPage 7 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 CONSUMER STAPLES RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders : Haver Analytics and Standard & Poor s 500 ENERGY RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders : Haver Analytics and Standard & Poor s 500 and Sectors Return on EquityPage 8 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 FINANCIALS RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders : Haver Analytics and Standard & Poor s 500 HEALTH CARE RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders : Haver Analytics and Standard & Poor s 500 and Sectors Return on EquityPage 9 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 INDUSTRIALS RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders : Haver Analytics and Standard & Poor s 500 INFORMATION TECHNOLOGY RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders.

4 Haver Analytics and Standard & Poor s 500 and Sectors Return on EquityPage 10 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 TELECOMMUNICATION SERVICES RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders : Haver Analytics and Standard & Poor s 500 UTILITIES RETURN ON EQUITY*(percent)Operating ROE ( )Reported ROE ( )* Annual operating EPS or reported EPS as a percent of average shareholders : Haver Analytics and Standard & Poor s 500 and Sectors Return on EquityPage 11 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 INTEREST EXPENSE(dollars per share)Interest Expense ( )Source: Haver Analytics and Standard & Poor 500 INTEREST EXPENSE MARGIN(percent of sales)( )Source: Haver Analytics and Standard & Poor s 500 Interest ExpensePage 12 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 INTEREST EXPENSE MARGIN(percent of EBITDA)( )Source: Haver Analytics and Standard & Poor 500 INTEREST EXPENSE MARGIN(percent of net income)( )Source: Haver Analytics and Standard & Poor s 500 Interest ExpensePage 13 / August 11, 2019 / S&P 500 Financial Ratios Research , 500 INTEREST EXPENSE(dollars per share)Interest Expense*Pre-tax ( )After-tax ( )Net after-tax subsidy ( )* After-tax interest expense and net after-tax subsidy are derived using the S&P 500 s effective tax rate for each yearSource: Haver Analytics and Standard & Poor 500 Interest ExpensePage 14 / August 11, 2019 / S&P 500 Financial Ratios Research , (c) Yardeni Research , Inc.

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