Stock Market Briefing: S&P 500 Sectors & Industries Profit Margins

Transcription

1 Stock Market Briefing: S&P Sectors & Industries Profit Margins December 1, 1 Dr. Edward Yardeni 1--3 eyardeni@ Joe Abbott 3--3 jabbott@ Please visit our sites at www. blog. thinking outside the box

2 Table Of Contents Table Of Contents S&P Operating Profit Margins S&P Profit Margin 3- S&P Sectors Operating Profit Margins S&P Sectors Forecasted & Actual Profit Margins Consumer Discretionary - Consumer Staples Energy Health Care Industrials Information Technology 11 Materials Materials & Telecommunication Services 13 December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

3 Figure 1. S&P PROFIT MARGIN (percent, quarterly) S&P Profit Margin Operating (.) Reported (.) Source: Standard & Poor s Corporation (revenues and reported EPS) and Thomson Reuters I/B/E/S (operating EPS) Figure. S&P PROFIT MARGIN (percent, trailing four-quarter average) 11 3 Operating (.) Reported (.) Source: Standard & Poor s Corporation (revenues and reported EPS) and Thomson Reuters I/B/E/S (operating EPS). Page 3 / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

4 Figure 3. S&P OPERATING PROFIT MARGIN (percent) S&P Profit Margin Quarterly (.) Trailing four-quarter average (.) Source: Standard & Poor s Corporation. 1 Figure. S&P REPORTED PROFIT MARGIN (percent) 1 - Quarterly (.) Trailing four-quarter average (.) Source: Standard & Poor s Corporation and Thomson Reuters I/B/E/S and Bureau of Economic Analysis. -1 Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

5 S&P Profit Margin Figure. S&P PROFIT MARGIN 1 (percent, using analysts average earnings and revenues forecasts) /1 11 Consensus Forecasts Annual -week forward* * Time-weighted average of the consensus estimates for current and next year. Monthly through December, weekly thereafter. Source: Thomson Reuters I/B/E/S. and Standard & Poor s. Figure. Task: SPPROFMARGIN Invalid calculation element [QSALES] :: Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

6 11 Figure. S&P & PROFIT MARGIN S&P index (.) Operating trailing -quarter profit margin (.) S&P Profit Margin / Source: Standard & Poor s Corporation and Thomson Reuters I/B/E/S. Figure. S&P & FORWARD PROFIT MARGIN /13 11 S&P index (.) Forward profit margin (11.1) / * Time-weighted average of the consensus estimates for current and next year. Monthly through December, weekly thereafter. Source: Standard & Poor s Corporation and Thomson Reuters I/B/E/S. Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

7 S&P Sectors Operating Profit Margins Figure. CONSUMER DISCRETIONARY (.) INDUSTRIALS (.) CONSUMER STAPLES (.) INFORMATION TECHNOLOGY (1.) ENERGY (3.) MATERIALS (.) FINANCIALS Includes Real Estate through Q-1 (13.) TELECOMMUNICATION SERVICES (.) HEALTH CARE UTILITIES (.) (.) * Operating margin in percent and based on trailing -quarter EPS and sales. Source: Standard & Poor s. Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

8 S&P Sectors Forecasted & Actual Profit Margins Figure. Task: JACCQMAR Task: JACGQMAR Invalid calculation element [QSALESO] Invalid calculation element [QSALESO] :: :3:3 Task: JACSQMAR Task: JATEQMAR Invalid calculation element [QSALESO] Invalid calculation element [QSALESO] :: :: Task: JAENQMAR Task: JABMQMAR Invalid calculation element [QSALESO] Invalid calculation element [QSALESO] :3: :3:1 Task: JAFSQMAR Task: JACMQMAR Invalid calculation element [SOE] Invalid calculation element [QSALESO] :: :: Task: JAHCQMAR Task: JAUTQMAR Invalid calculation element [QSALESO] Invalid calculation element [SOE] :: :: Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

9 Figure 11. Consumer Discretionary S&P OPERATING PROFIT MARGINS: CONSUMER DISCRETIONARY (trailing -quarter EPS, percent) Consumer Discretionary Sector (.) Advertising (.) Automobile Manufacturers (.) Auto Parts & Equipment (.) Publishing (.) Figure. S&P OPERATING PROFIT MARGINS: CONSUMER DISCRETIONARY (trailing -quarter EPS, percent) Consumer Discretionary Sector (.) Casinos & Gaming (.) Movies & Entertainment (1.1) Hotels, Resorts & Cruise Lines (.) Restaurants (1.) Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

10 Figure 13. Consumer Discretionary S&P OPERATING PROFIT MARGINS: CONSUMER DISCRETIONARY (trailing -quarter EPS, percent) Consumer Discretionary Sector (.) Apparel Retail (.) Department Stores (3.) Specialty Stores (.) Figure 1. S&P OPERATING PROFIT MARGINS: CONSUMER DISCRETIONARY (trailing -quarter EPS, percent) Consumer Discretionary Sector (.) Household Appliances (.3) Homebuilding (.) Computer & Electronics Retail (3.) Home Improvement Retail (.) 1 - Margins capped at -% due to extreme values Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

11 1 Figure 1. Consumer Staples S&P OPERATING PROFIT MARGINS: CONSUMER STAPLES (trailing -quarter EPS, percent) Consumer Staples Sector (.) Household Products (1.) Packaged Foods & Meats (.) Personal Products (.) Figure 1. S&P OPERATING PROFIT MARGINS: CONSUMER STAPLES (trailing -quarter EPS, percent) 3 1 Consumer Staples Sector (.) Brewers (1.) Drug Retail (3.) Soft Drinks (1.) Tobacco (.) Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

12 Figure 1. Energy S&P OPERATING PROFIT MARGINS: ENERGY (trailing -quarter EPS, percent) Energy Sector (3.) Integrated Oil & Gas (.) Oil & Gas Refining & Marketing (.) Figure 1. S&P OPERATING PROFIT MARGINS: ENERGY (trailing -quarter EPS, percent) Energy Sector (3.) Oil & Gas Drilling (.) Oil & Gas Equipment & Services (.) Oil & Gas Exploration & Production (-.) Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

13 Figure 1. Health Care S&P OPERATING PROFIT MARGINS: HEALTH CARE (trailing -quarter EPS, percent) Health Care Sector (.) Biotechnology (3.3) Health Care Equipment (1.) Managed Health Care (.) Figure. S&P OPERATING PROFIT MARGINS: HEALTH CARE (trailing -quarter EPS, percent) 3 1 Health Care Sector (.) Health Care Facilities (.) Pharmaceuticals (.) Health Care Distributors (1.) Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

14 1 Figure 1. Industrials S&P OPERATING PROFIT MARGINS: INDUSTRIALS (trailing -quarter EPS, percent) 1 Industrials Sector (.) Construction Machinery & Heavy Trucks (.) Industrial Conglomerates (13.) Industrial Machinery (.) Figure. S&P OPERATING PROFIT MARGINS: INDUSTRIALS (trailing -quarter EPS, percent) Industrials Sector (.) Aerospace & Defense (.) Electrical Components & Equipment (11.) Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

15 3 3 Figure 3. Information Technology S&P OPERATING PROFIT MARGINS: INFORMATION TECHNOLOGY (trailing -quarter EPS, percent) Information Technology Sector (1.) Application Software (1.3) Data Processing & Outsourcing (1.) IT Consulting & Other Services (13.) Systems Software (.1) Figure. S&P OPERATING PROFIT MARGINS: INFORMATION TECHNOLOGY (trailing -quarter EPS, percent) Information Technology Sector (1.) Communications Equipment (1.) Semiconductors (.) Semiconductor Equipment (.) Page 11 / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

16 Figure. Materials S&P OPERATING PROFIT MARGINS: MATERIALS (trailing -quarter EPS, percent) - - Materials Sector (.) Aluminum (.) Paper Products (.) Steel (.1) Figure. S&P OPERATING PROFIT MARGINS: MATERIALS (trailing -quarter EPS, percent) 1 Materials Sector (.) Diversified Chemicals (.) Fertilizers & Agricultural Chemicals (.) Industrial Gases (1.) Specialty Chemicals (.) Page / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

17 3 1 Figure. Materials & Telecommunication Services S&P OPERATING PROFIT MARGINS: MATERIALS (trailing -quarter EPS, percent) Materials Sector (.) Gold (.) Metal & Glass Containers (.) Diversified Metals & Mining (3.) Paper Packaging (.) Figure. S&P OPERATING PROFIT MARGINS: TELECOMMUNICATION SERVICES (trailing -quarter EPS, percent) Telecommunication Services Sector (.) Integrated Telecommunication (11.1) Page 13 / December 1, 1 / Stock Market Briefing: S&P Sectors & Industries Profit Margins www.

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