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Fundamental Macro Trends & Sector Fundamentals

September 7, 20230Comments

All Cap Index & Sectors: Free Cash Flow Yield Is Flat Through 8/15/23

This report analyzes free cash flow (FCF), enterprise value, and the trailing FCF yield for the NC 2000 and each of its sectors through 8/15/23.
by Kyle Guske II, Senior Investment Analyst, MBA
Economic Earnings
August 29, 20230Comments

All Cap Index & Sectors: ROIC Keeps Falling in 2Q23 (Free, Abridged)

This report is an abridged and free version of All Cap Index & Sectors: ROIC Keeps Falling in 2Q23.
by Hakan Salt, Associate Investment Analyst
Most Likely to Beat Earnings
August 29, 20230Comments

All Cap Index & Sectors: ROIC Keeps Falling in 2Q23

This report analyzes the ROIC, NOPAT margin, invested capital turns, and weighted average cost of capital for the NC 2000 and its sectors.
by Hakan Salt, Associate Investment Analyst
August 29, 20230Comments

All Cap Index & Sectors: GAAP Earnings’ Misleading Trend Continues in 2Q23 (Free, Abridged)

This report is an abridged and free version of All Cap Index & Sectors: GAAP Earnings’ Misleading Trend Continues in 2Q23.
by Kyle Guske II, Senior Investment Analyst, MBA
August 29, 20230Comments

All Cap Index & Sectors: GAAP Earnings’ Misleading Trend Continues in 2Q23

This report analyzes the Core Earnings and GAAP earnings of the NC 2000 and each of its sectors.
by Kyle Guske II, Senior Investment Analyst, MBA
Understated Earnings
August 29, 20230Comments

Street Earnings Understated for 29% of S&P 500 in 2Q23

Five S&P 500 companies with understated Street Earnings and a Very Attractive Stock Rating.
by Kyle Guske II, Senior Investment Analyst, MBA
Overstated Earnings
August 29, 20230Comments

Street Earnings Overstated for 70% of S&P 500 in 2Q23

Five S&P 500 companies with overstated Street Earnings and an Unattractive Stock Rating.
by Kyle Guske II, Senior Investment Analyst, MBA
Core Earnings
August 25, 20230Comments

S&P 500 Economic Earnings: Downward Trend Continues In 2Q23 (Free, Abridged)

This report is an abridged and free version of S&P 500 Economic Earnings: Downward Trend Continues In 2Q23.
by Kyle Guske II, Senior Investment Analyst, MBA
Economic Earnings vs. GAAP Earnings
August 25, 20230Comments

S&P 500 Economic Earnings: Downward Trend Continues In 2Q23

This report analyzes the economic earnings and GAAP earnings for the S&P 500 and its sectors through 2Q23.
by Kyle Guske II, Senior Investment Analyst, MBA
PEBV Ratio Analysis
August 25, 20230Comments

S&P 500 & Sectors: Price-to-Economic Book Value Ratio is Flat in 2Q23 (Free, Abridged)

This report is a free, abridged version of S&P 500 & Sectors: Price-to-Economic Book Value Ratio is Flat in 2Q23.
by Hakan Salt, Associate Investment Analyst
S&P 500 PEBV Ratio Analysis
August 25, 20230Comments

S&P 500 & Sectors: Price-to-Economic Book Value Ratio is Flat in 2Q23

This report analyzes the trailing PEBV ratio for the S&P 500 and each of its sectors through the second quarter of 2023.
by Hakan Salt, Associate Investment Analyst
August 25, 20230Comments

S&P 500 & Sectors: Free Cash Flow Yield Stagnant in 2Q23 (Free, Abridged)

This report is an abridged and free version of S&P 500 & Sectors: Free Cash Flow Yield Stagnant in 2Q23.
by Kyle Guske II, Senior Investment Analyst, MBA
Free Cash Flow & FCF Yield
August 25, 20230Comments

S&P 500 & Sectors: Free Cash Flow Yield Stagnant in 2Q23

This report analyzes, free cash flow, enterprise value, and the trailing FCF yield for the S&P 500 and each of its sectors through 2Q23.
by Kyle Guske II, Senior Investment Analyst, MBA
August 25, 20230Comments

S&P 500 & Sectors: ROIC Keeps Falling In 2Q23 (Free, Abridged)

This report is a free and abridged version of S&P 500 & Sectors: ROIC Keeps Falling In 2Q23.
by Hakan Salt, Associate Investment Analyst
ROIC vs. WACC
August 25, 20230Comments

S&P 500 & Sectors: ROIC Keeps Falling In 2Q23

This report presents the drivers of economic earnings, ROIC, NOPAT margin, invested capital turns, and WACC, for the S&P 500.
by Hakan Salt, Associate Investment Analyst
Core v. GAAP Abridged
August 25, 20230Comments

S&P 500 & Sectors: GAAP Earnings’ Misleading Trend Continues In 2Q23 (Free, Abridged)

This report is an abridged and free version of S&P 500 & Sectors: GAAP Earnings’ Misleading Rise Continued In 2Q23.
by Kyle Guske II, Senior Investment Analyst, MBA
Core vs. GAAP Earnings
August 25, 20230Comments

S&P 500 & Sectors: GAAP Earnings’ Misleading Rise Continued In 2Q23

This report analyzes the Core Earnings and GAAP earnings of the S&P 500 and each of its sectors.
by Kyle Guske II, Senior Investment Analyst, MBA
June 12, 20230Comments

S&P’s Operating Earnings Growth in 1Q23 is An Illusion

In 1Q23, TTM Operating Earnings per share for the S&P 500 are lower than TTM Core Earnings per share for the fourth consecutive quarter.
by Kyle Guske II, Senior Investment Analyst, MBA
June 8, 20230Comments

All Cap Index & Sectors: Economic Earnings Continue to Fall in 1Q23 (Free, Abridged)

This report is an abridged and free version of All Cap Index & Sectors: Economic Earnings Continue to Fall in 1Q23.
by Kyle Guske II, Senior Investment Analyst, MBA
Economic Earnings Vs GAAP Earnings
June 8, 20230Comments

All Cap Index & Sectors: Economic Earnings Continue to Fall in 1Q23

This report analyzes the Economic Earnings and GAAP earnings of the NC 2000 and its sectors.
by Kyle Guske II, Senior Investment Analyst, MBA
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