Investments

U.S. Macro Snapshot

Last updated: Mar 22, 2026 5:10 AM
Metric Value Observation date
Nominal GDP$31.44T2025-10-01
CPI (Index)327.52026-02-01
Fed Funds Rate3.64%2026-02-01
10-Year Treasury4.25%2026-03-19

Sources: GDP (FRED), CPI (FRED), Fed Funds (FRED), 10-Year Treasury (FRED)

Buffett Indicator (Market Value of Corporate Equities ÷ GDP)

Last updated: Mar 22, 2026 5:10 AM
Metric Value Observation date / status
Market value of U.S. corporate equities $96.32T 2025-10-01
Nominal GDP $31.44T 2025-10-01
Indicator 306% Very elevated

Sources: Corporate equities, market value (FRED), GDP (FRED)

U.S. Industry Data

Data: As of January 1, 2025
Industry Name Number of firms % of Money Losing firms (Trailing) EV/EBIT (1-t) EV/EBITDAR&D EV/EBITDA EV/EBIT EV/EBIT (1-t) Price/Sales Net Margin EV/Sales Pre-tax Operating Margin Current PE Trailing PE Forward PE Expected growth – next 5 years PEG Ratio
Advertising 54 77.78% 33.23 17.35 20.07 24.48 33.51 2.33 3.00% 2.75 11.25% 514.37 291.27 73.71 22.98% 1.51
Aerospace/Defense 67 43.28% 35.54 17.02 23.2 34.01 42.58 2.21 4.37% 2.6 7.66% 39.16 87.42 35.07 19.02% 1.5
Air Transport 24 70.83% 23.83 8.96 9.27 18.71 25.29 0.55 2.21% 1.02 5.46% 28.72 17.98 12.44 35.25% 0.33
Apparel 37 62.16% 16.89 11.88 11.99 14.71 16.98 1.09 2.98% 1.41 9.61% 18.53 28.05 21.85 5.95% 2.97
Auto & Truck 34 82.35% 118.57 28.08 49.31 108.13 120.36 2.94 3.77% 3.47 3.21% 31.42 27.28 29.8 10.41% 4.8
Auto Parts 33 45.45% 18.48 5.61 8.57 14.32 19.5 0.55 2.27% 0.75 5.21% 20.81 24.8 14.28 15.29% 0.87
Bank (Money Center) 15 13.33% NA NA NA NA NA NA NA NA NA 20.06 28.04 14.03 11.92% 1.13
Banks (Regional) 591 16.92% NA NA NA NA NA NA NA NA NA 31.42 18.41 13.53 6.50% 2.12
Beverage (Alcoholic) 18 61.11% 17.68 12.67 12.67 14.42 17.71 2.58 9.29% 3.3 22.88% 24.63 44.43 16.6 11.17% 2.45
Beverage (Soft) 29 62.07% 24.77 17.63 18.03 19.88 24.78 3.47 14.07% 4 20.13% 34.72 25.67 24.69 11.26% 2.18
Broadcasting 22 59.09% 12.4 9.07 9.07 10.29 12.43 0.57 -5.64% 1.29 12.51% 11.5 45.02 10.1 192.49% 0.05
Brokerage & Investment Banking 30 33.33% NA NA NA NA NA NA NA NA NA 35.16 29.87 20.64 15.37% 1.29
Building Materials 39 20.51% 22.72 13.08 14.08 17.29 22.73 2.03 10.56% 2.33 13.50% 24.01 22.98 19.56 11.54% 1.64
Business & Consumer Services 152 48.68% 31.55 17.71 19.03 23.97 31.82 2.6 7.09% 2.93 12.24% 34.71 49.99 26.81 13.83% 2.22
Cable TV 9 55.56% 16.14 7.15 7.2 12.52 16.14 1.03 7.58% 2.27 18.17% 11.94 10.74 74.67 0.15% 66.42
Chemical (Basic) 31 54.84% 19.73 7.57 8.15 16.53 20.12 0.7 2.76% 1.03 6.25% 15.75 25.81 14.53 7.62% 2.55
Chemical (Diversified) 4 75.00% 22.26 7.24 8.32 22.28 22.28 0.51 -0.50% 1 4.48% 25.18 33.22 21.36 39.10% 0.85
Chemical (Specialty) 60 46.67% 27.55 12.69 14.51 22.76 28.34 2.26 6.46% 2.77 12.17% 26.63 43.86 23.69 10.42% 2.12
Coal & Related Energy 16 81.25% 10.36 4.89 4.94 14.11 18.33 1.64 10.06% 1.57 11.11% 8.41 8.93 115.99 NA NA
Computer Services 63 58.73% 26.07 11.5 14.33 21.94 26.25 1.16 4.15% 1.38 6.31% 436.84 56.19 18.96 19.93% 1.29
Computers/Peripherals 35 60.00% 38.04 20.57 26.23 29.46 38.13 6.46 16.78% 6.68 22.67% 103.78 610.15 14.86 11.48% 3.29
Construction Supplies 46 41.30% 20.83 11.78 13.37 16.2 20.96 2.1 11.23% 2.46 15.19% 30.7 18.97 17.45 11.01% 1.57
Diversified 21 76.19% 10.91 8.52 8.7 8.82 10.92 2.61 25.15% 2.91 32.97% 9.87 13.03 20.45 5.44% 1.88
Drugs (Biotechnology) 535 93.46% NA 11.49 62.25 NA NA 6.11 -13.20% 6.79 1.30% 53.23 84.99 33.16 17.95% 1.98
Drugs (Pharmaceutical) 231 87.45% 26.55 9.77 18.96 24.05 27.32 4.84 8.90% 5.48 22.80% 129.64 20.88 18.72 12.21% 2.61
Education 29 48.28% 40.22 17.51 22.9 29.6 41.81 2.24 2.65% 2.49 8.41% 82.61 33.92 24.96 16.88% 1.68
Electrical Equipment 101 73.27% 57.05 22.27 30.4 44.79 61.66 3.03 2.59% 3.31 7.38% 32.32 55.43 23.99 13.30% 2.82
Electronics (Consumer & Office) 11 100.00% NA NA NA NA NA 0.73 -15.37% 0.72 -5.20% 11.54 NA 25.09 22.50% NA
Electronics (General) 122 60.66% 36.11 14.34 19.6 29.68 37.04 2.27 5.62% 2.46 8.27% 38.47 74.94 27.01 15.89% 1.87
Engineering/Construction 42 42.86% 32.59 19.45 19.55 24.14 32.74 1.26 2.95% 1.41 5.84% 39.65 44.73 26.72 16.82% 2.14
Entertainment 96 83.33% 60.65 19.89 24.18 48 63.87 3.37 -3.16% 3.9 8.13% 83.01 84.24 46.36 14.53% 3.1
Environmental & Waste Services 50 68.00% 31.58 17.55 17.94 24.42 31.74 3.13 8.81% 3.68 15.08% 65.55 86.59 89.56 12.88% 2.55
Farming/Agriculture 35 62.86% 20.7 9.48 10.79 15.92 20.89 0.8 4.90% 1.18 7.42% 18.71 35 47.4 7.54% 2.07
Financial Svcs. (Non-bank & Insurance) 166 37.35% 98.28 95.38 106.22 117.65 145.87 5.14 22.28% 19.3 16.41% 92.01 30.21 22.29 16.14% 1.32
Food Processing 77 58.44% 19.39 11.75 12.3 14.84 19.49 1.35 6.01% 1.79 12.10% 23.97 27.67 22.81 10.36% 2.04
Food Wholesalers 14 35.71% 22.03 12.03 12.03 16.86 22.03 0.31 1.34% 0.44 2.63% 22.7 29.3 17.88 19.09% 1.17
Furn/Home Furnishings 28 53.57% 20.74 10.18 12.31 17.44 21.01 0.87 2.11% 1.18 6.79% 21.92 30.85 17.68 11.57% 1.67
Green & Renewable Energy 18 77.78% 32.14 11.67 11.7 32.28 32.52 2.38 -18.83% 6.38 19.78% 36.33 25.51 22.2 0.27% 104.17
Healthcare Products 218 77.52% 40.27 18.01 24.93 34.7 41.55 4.77 8.73% 5.2 14.99% 47 45.25 36.38 11.51% 3.23
Healthcare Support Services 113 65.49% 19.72 11.52 11.67 15.34 19.96 0.43 1.58% 0.53 3.43% 78.23 38.83 31.61 9.67% 2.4
Heathcare Information and Technology 116 79.31% 45.29 19.27 25.45 39.63 46.48 4.71 4.69% 5.31 13.40% 44.42 54.47 30.56 12.58% 2.87
Homebuilding 30 20.00% 10.38 8.02 8.02 7.98 10.39 1.15 12.00% 1.24 15.59% 10.22 10.85 10.4 13.42% 0.72
Hospitals/Healthcare Facilities 33 63.64% 15.45 9.65 9.69 12.22 15.46 0.87 6.97% 1.48 12.14% 23.11 19.9 21.65 17.16% 0.66
Hotel/Gaming 65 50.77% 33.53 16.71 18.42 28.85 34.26 3.15 9.80% 4.28 14.85% 59.32 33.74 28.76 56.71% 0.46
Household Products 101 70.30% 24.65 15.06 16.43 19.04 24.73 3.16 10.38% 3.53 18.53% 31.39 32.17 55.94 10.21% 2.79
Information Services 16 31.25% 24.17 12 13.36 18.68 24.17 1.73 6.23% 2.27 12.15% 26.86 21.28 14.68 8.53% 2.76
Insurance (General) 22 50.00% 22.64 14.34 14.42 18.88 22.71 2.72 4.16% 3.11 16.49% 60.29 58.24 25.8 19.76% 1.63
Insurance (Life) 19 21.05% 19.08 19.88 19.88 15 19.88 0.95 5.95% 1.24 8.25% 26.81 46.46 10.34 10.18% 1.3
Insurance (Prop/Cas.) 53 22.64% 13.79 15.99 15.99 11.01 13.85 1.37 9.88% 1.51 13.70% 33.39 16.59 51.95 26.77% 0.5
Investments & Asset Management 231 50.65% 51.5 47.89 49.81 42.69 53.04 4.95 17.59% 6.01 14.08% 53.45 56.1 18.42 14.95% 1.77
Machinery 109 49.54% 25.54 15.49 17.29 20.2 25.77 2.87 10.04% 3.23 15.98% 43.07 33.33 21.97 13.01% 1.92
Metals & Mining 64 85.94% 19.43 11.17 11.26 12.76 20.21 2.62 7.39% 2.89 22.62% 64.56 74.86 18.91 18.70% 1.29
Office Equipment & Services 14 35.71% 17.04 9.09 10.71 14.18 17.07 0.89 1.06% 1.2 8.46% 32.17 14.81 12.26 14.17% 1.29
Oil/Gas (Integrated) 4 0.00% 15.84 6.69 6.76 11.06 15.84 1.39 9.75% 1.52 13.71% 9.09 10.83 14.75 3.42% 4.15
Oil/Gas (Production and Exploration) 147 53.74% 13.18 5.77 5.78 10.24 13.31 2.51 19.52% 3.08 30.06% 125.94 19.1 15.19 7.00% 1.7
Oil/Gas Distribution 24 33.33% 21.48 10.55 10.56 17.51 21.73 3.33 16.24% 4.98 28.45% 66.62 27.82 22.96 1.24% 16
Oilfield Svcs/Equip. 97 51.55% 14.67 5.49 5.65 11.75 14.73 0.47 3.31% 0.61 5.17% 43.02 29.33 19.77 20.93% 0.59
Packaging & Container 22 27.27% 19.03 9.24 9.56 15.43 19.03 1.06 6.82% 1.54 9.99% 21.78 26.1 14.44 8.58% 1.63
Paper/Forest Products 6 33.33% 16.56 8.6 8.65 11.96 16.56 1.05 6.53% 1.23 10.31% 18.79 23.34 19.86 5.85% 2.75
Power 48 16.67% 24.84 13.14 13.18 21.98 24.94 2.43 11.30% 4.33 19.67% 23.17 23.27 16.47 5.97% 3.28
Precious Metals 60 93.33% 18.52 14.6 15.22 16.21 19.21 2.74 -4.84% 3.06 18.89% 16.69 28.22 13.96 9.77% 2.43
Publishing & Newspapers 19 73.68% 26.39 11.67 12.9 19.35 26.56 1.32 2.26% 1.59 8.23% 31.87 25.08 16.32 12.41% 2.59
R.E.I.T. 192 35.94% 45.76 24.28 24.28 48.73 50.76 6.02 12.53% 10.83 22.23% 44.63 51.78 41.45 6.72% 4.75
Real Estate (Development) 15 53.33% 32.34 21.72 21.72 29.35 34.66 2.06 11.12% 3.96 13.48% 17.17 40.49 21.72 NA NA
Real Estate (General/Diversified) 11 63.64% 42.63 21.41 21.41 36.45 49.9 3.24 8.64% 4.1 11.24% 38.85 17.88 618.71 NA NA
Real Estate (Operations & Services) 60 80.00% 141.38 30.29 47.8 112.85 176.91 1.28 -0.79% 1.53 1.36% 61.06 63.94 407.74 53.93% 0.9
Recreation 50 64.00% 32.92 11.33 13.6 26.61 34.75 1.26 0.65% 1.99 7.48% 22.93 33.91 47.52 9.16% 2.36
Reinsurance 1 0.00% 14.51 9.62 9.62 11.59 14.51 0.64 3.32% 0.64 5.53% 15.6 19.35 9.37 NA NA
Restaurant/Dining 62 41.94% 40.68 22.05 22.85 32.16 40.75 3.69 10.62% 4.47 13.90% 154.88 56.6 38.93 16.35% 1.8
Retail (Automotive) 29 48.28% 27.78 16.57 16.53 21.82 27.95 0.82 3.33% 1.22 5.60% 25.38 123.07 31.94 8.73% 2.56
Retail (Building Supply) 13 38.46% 27.36 16.63 16.81 21.02 27.72 2.12 8.08% 2.52 11.97% 27.01 42.96 37.71 15.48% 1.6
Retail (Distributors) 66 39.39% 20.64 14.93 14.95 16.82 22.05 1.41 6.45% 1.81 10.79% 30.17 51.9 24.6 10.96% 1.96
Retail (General) 24 25.00% 43.07 15.42 23.8 34.67 43.07 1.94 4.60% 2.05 5.92% 28.81 25.79 22.74 3.91% 10.52
Retail (Grocery and Food) 17 41.18% 21.43 10.22 10.76 16.89 21.44 0.36 1.97% 0.49 2.93% 21.33 21.12 20.8 9.52% 1.93
Retail (REITs) 28 21.43% 34.03 18.96 18.96 32.77 34.03 8.06 25.47% 12.22 37.28% 70.52 72.24 44.33 4.44% 6.45
Retail (Special Lines) 98 61.22% 26.14 15.37 15.69 20.17 26.38 0.87 1.49% 1.07 5.30% 92.51 24.48 22.7 13.52% 1.61
Rubber& Tires 3 100.00% 14.15 6.02 7.89 14.19 14.19 0.14 -1.70% 0.62 4.34% 7.38 NA 5.29 124.40% NA
Semiconductor 63 60.32% 57.9 29.57 46.76 49.27 58.39 14.26 19.96% 14.65 29.73% 64.15 54.22 86.4 17.52% 3.08
Semiconductor Equip 30 30.00% 23.86 12.92 18.23 20.96 23.89 4.94 20.14% 5.07 24.19% 43.57 71.35 25.1 21.04% 1.13
Shipbuilding & Marine 8 50.00% 14.54 11.05 11.05 11.68 14.66 1.52 10.52% 1.75 14.98% 17.29 12.77 11.61 33.25% 0.42
Shoe 12 41.67% 22.19 15.54 15.65 18.46 22.2 2.32 10.15% 2.4 13.01% 18.61 17.58 19.41 10.34% 2.13
Software (Entertainment) 81 76.54% 26.46 15.17 24.22 22.84 26.9 7.3 27.43% 7.35 32.16% 41.66 68.18 37.68 19.77% 1.29
Software (Internet) 29 72.41% NA 25.99 97.97 NA NA 7.01 -2.60% 7.59 2.05% 51.76 50.64 155.59 22.39% 0.8
Software (System & Application) 333 72.97% 46.37 22.77 34.12 40.13 49.17 11.2 22.94% 11.54 28.77% 179.8 203.77 51.82 21.83% 1.91
Steel 27 25.93% 14.2 5.54 5.55 11.61 14.25 0.77 5.25% 0.89 7.65% 13.97 15.02 15.34 11.41% 1.1
Telecom (Wireless) 11 54.55% 28.89 12.44 12.46 21.97 28.9 2.89 10.81% 4.15 18.90% 32.02 13.36 33.57 12.80% 1.88
Telecom. Equipment 61 73.77% 33.26 14.52 23.94 30.79 34.25 5.05 10.48% 5.48 17.80% 40.05 46.06 33.1 10.98% 3.12
Telecom. Services 32 75.00% 17.09 7.34 7.44 12.39 17.25 1.3 5.87% 2.56 20.68% 74.81 25.52 16.6 -2.98% NA
Tobacco 12 66.67% 17.19 12.51 12.95 13.43 17.21 4.41 31.96% 5.54 41.22% 19.85 15.29 15.55 11.67% 1.17
Transportation 21 52.38% 27.71 12.57 13.92 22.83 28.99 1.19 4.09% 1.58 6.90% 22.42 24.83 17.23 -6.31% NA
Transportation (Railroads) 4 25.00% 21.35 13.44 13.44 16.4 21.35 4.94 24.30% 6.28 38.26% 22.5 19.93 18.01 8.61% 2.32
Trucking 24 37.50% 33.8 11.8 11.97 25.32 33.81 1.54 4.20% 1.85 7.32% 75.05 335.52 47.6 12.03% 2.48
Utility (General) 14 0.00% 25.68 13.39 13.39 22.71 25.68 2.97 15.46% 5.24 23.07% 19.19 18.72 17.73 6.90% 2.78
Utility (Water) 15 33.33% 26.93 16.83 16.85 22.73 27.13 4.75 21.32% 7.51 33.03% 27.07 23.13 22.24 14.10% 1.53
Total Market 6062 57.51% 35.39 18.54 22.86 30.33 37.97 2.76 8.67% 3.65 12.02% 57.11 48.86 31.6 14.70% 1.76
Total Market (without financials) 4935 64.19% 30.56 14.91 18.53 25.16 31.5 2.58 7.33% 2.99 11.87% 59.79 53.28 34.7 15.50% 1.8

Sources: NYU Stern (Damodaran), Curated CSV

Total Market value of U.S. corporate equities includes the market value of shares of all corporations, both listed on exchanges and closely held (and also includes some government holdings like TARP-era equity holdings)