Fundamental Factor Indicators

Fundamental Factor Indicators: 10/21/2024

Below is a summary of key external factors that have been known to drive stock prices on a long-term basis.

Additional Valuation Metrics:

• GAAP P/E Ratio (Monthly Data) as of 9/30/24: 28.48
  • 25-year Average: 26.3
  • 50-year Average: 20.8
  Average from 3/31/1926: 17.8

• NDR Valuation Model (Monthly Data) as of 9/30/24:
  • Overvalued Level (+1 standard deviation from median): 4892 (-15.1%)
  • Fair value Level (50 year median): 3694 (-35.9%)
  Undervalued Level (-1 standard deviation from median): 2495 (-56.7%)