FAQ
Price earnings ratio is based on average inflation-adjusted earnings from the previous 10 years (Shiller PE Ratio, or PE 10)
Note
Why is the P/E on the chart different than what is reported by S&P and other sites? The P/Es listed on many other sites are based on earnings from the previous year only. The figures here are the PE10 or Shiller PE. They are the price to average earnings from the past ten years. Because this factors in earnings from the previous ten years, it is less prone to wild swings in any one year.
S&P 500 Earnings History
STANDARD & POOR'S INDEX SERVICES
S&P 500 Yearly Earnings Since 1960
| Year | Earnings Yield | Dividend Yield | S&P 500 Price | Earnings | Dividends | Year End P/E |
|---|---|---|---|---|---|---|
| 1960 | 5.34% | 3.41% | 58.11 | 3.10 | 1.98 | 18.74 |
| 1961 | 4.71% | 2.85% | 71.55 | 3.37 | 2.04 | 21.23 |
| 1962 | 5.81% | 3.40% | 63.10 | 3.67 | 2.15 | 17.17 |
| 1963 | 5.51% | 3.13% | 75.02 | 4.13 | 2.35 | 18.16 |
| 1964 | 5.62% | 3.05% | 84.75 | 4.76 | 2.58 | 17.80 |
| 1965 | 5.73% | 3.06% | 92.43 | 5.30 | 2.83 | 17.44 |
| 1966 | 6.74% | 3.59% | 80.33 | 5.41 | 2.88 | 14.85 |
| 1967 | 5.66% | 3.09% | 96.47 | 5.46 | 2.98 | 17.67 |
| 1968 | 5.51% | 2.93% | 103.86 | 5.72 | 3.04 | 18.16 |
| 1969 | 6.63% | 3.52% | 92.06 | 6.10 | 3.24 | 15.09 |
| 1970 | 5.98% | 3.46% | 92.15 | 5.51 | 3.19 | 16.72 |
| 1971 | 5.46% | 3.10% | 102.09 | 5.57 | 3.16 | 18.33 |
| 1972 | 5.23% | 2.70% | 118.05 | 6.17 | 3.19 | 19.13 |
| 1973 | 8.16% | 3.70% | 97.55 | 7.96 | 3.61 | 12.26 |
| 1974 | 13.64% | 5.43% | 68.56 | 9.35 | 3.72 | 7.33 |
| 1975 | 8.55% | 4.14% | 90.19 | 7.71 | 3.73 | 11.70 |
| 1976 | 9.07% | 3.93% | 107.46 | 9.75 | 4.22 | 11.02 |
| 1977 | 11.43% | 5.11% | 95.10 | 10.87 | 4.86 | 8.75 |
| 1978 | 12.11% | 5.39% | 96.11 | 11.64 | 5.18 | 8.26 |
| 1979 | 13.48% | 5.53% | 107.94 | 14.55 | 5.97 | 7.42 |
| 1980 | 11.04% | 4.74% | 135.76 | 14.99 | 6.44 | 9.07 |
| 1981 | 12.39% | 5.57% | 122.55 | 15.18 | 6.83 | 8.07 |
| 1982 | 9.83% | 4.93% | 140.64 | 13.82 | 6.93 | 10.18 |
| 1983 | 8.06% | 4.32% | 164.93 | 13.29 | 7.12 | 12.41 |
| 1984 | 10.07% | 4.68% | 167.24 | 16.84 | 7.83 | 9.93 |
| 1985 | 7.42% | 3.88% | 211.28 | 15.68 | 8.20 | 13.47 |
| 1986 | 5.96% | 3.38% | 242.17 | 14.43 | 8.19 | 16.78 |
| 1987 | 6.49% | 3.71% | 247.08 | 16.04 | 9.17 | 15.40 |
| 1988 | 8.69% | 3.68% | 277.72 | 24.12 | 10.22 | 11.51 |
| 1989 | 6.88% | 3.32% | 353.4 | 24.32 | 11.73 | 14.53 |
| 1990 | 6.86% | 3.74% | 330.22 | 22.65 | 12.35 | 14.58 |
| 1991 | 4.63% | 3.11% | 417.09 | 19.30 | 12.97 | 21.61 |
| 1992 | 4.79% | 2.90% | 435.71 | 20.87 | 12.64 | 20.87 |
| 1993 | 5.77% | 2.72% | 466.45 | 26.90 | 12.69 | 17.34 |
| 1994 | 6.91% | 2.91% | 459.27 | 31.75 | 13.36 | 14.47 |
| 1995 | 6.12% | 2.30% | 615.93 | 37.70 | 14.17 | 16.34 |
| 1996 | 5.49% | 2.01% | 740.74 | 40.63 | 14.89 | 18.23 |
| 1997 | 4.54% | 1.60% | 970.43 | 44.09 | 15.52 | 22.01 |
| 1998 | 3.60% | 1.32% | 1229.23 | 44.27 | 16.20 | 27.77 |
| 1999 | 3.52% | 1.14% | 1469.25 | 51.68 | 16.71 | 28.43 |
| 2000 | 4.25% | 1.23% | 1320.28 | 56.13 | 16.27 | 23.52 |
| 2001 | 3.38% | 1.37% | 1148.09 | 38.85 | 15.74 | 29.55 |
| 2002 | 5.23% | 1.83% | 879.82 | 46.04 | 16.08 | 19.11 |
| 2003 | 4.92% | 1.61% | 1111.91 | 54.69 | 17.88 | 20.33 |
| 2004 | 5.58% | 1.60% | 1211.92 | 67.68 | 19.407 | 17.91 |
| 2005 | 6.12% | 1.79% | 1248.29 | 76.45 | 22.38 | 16.33 |
| 2006 | 6.18% | 1.77% | 1418.30 | 87.72 | 25.05 | 16.17 |
| 2007 | 5.62% | 1.89% | 1468.36 | 82.54 | 27.73 | 17.79 |
| 2008 | 7.24% | 3.11% | 903.25 | 65.39 | 28.05 | 13.81 |
| 2009 | 5.35% | 2.00% | 1115.10 | 59.65 | 22.31 | 18.69 |
| 2010 | 6.65% | 1.84% | 1257.64 | 83.66 | 23.12 | 15.03 |
| 2011 | 7.72% | 2.07% | 1257.60 | 97.05 | 26.02 | 12.96 |
| 2012 | 7.18% | 2.13% | 1426.19 | 102.47 | 30.44 | 13.92 |
