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Date Posted: 11:02:04 3/06/23 Mon
Author: Jasper
Subject: Big US Stocks’ Q4’22 Fundamentals

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Big US stocks’ Q4’22 fundamentals will likely play a role in what happens next, tilting the scales towards a bearish outcome. For 22 quarters in a row now, I’ve analyzed how the 25-largest US companies that dominate the SPX fared in their latest earnings season. These behemoths alone commanded a massive 39.7% of the SPX’s total market cap exiting Q4! Their latest-reported key results are detailed in this table.

Each big US company’s stock symbol is preceded by its ranking change within the S&P 500 over the past year since the end of Q4’21. These symbols are followed by their stocks’ Q4’22 quarter-end weightings in the SPX, along with their enormous market capitalizations then. Market caps’ year-over-year changes are shown, revealing how those stocks performed for investors independent of manipulative stock buybacks.

Those have been off the charts in recent years, fueled by the Fed’s previous zero-interest-rate policy and trillions of dollars of bond monetizations. Stock buybacks are deceptive financial engineering undertaken to artificially boost stock prices and earnings per share, maximizing executives’ huge compensation. Looking at market-cap changes rather than stock-price ones neutralizes some of stock buybacks’ distorting effects.

Next comes each of these big US stocks’ quarterly revenues, hard earnings under Generally Accepted Accounting Principles, stock buybacks, trailing-twelve-month price-to-earnings ratios, dividends paid, and operating cash flows generated in Q4’22 followed by their year-over-year changes. Fields are left blank if companies hadn’t reported that particular data as of mid-week, or if it doesn’t exist like negative P/E ratios.

Percentage changes are excluded if they aren’t meaningful, primarily when data shifted from positive to negative or vice-versa. These latest quarterly results are very important for American stock investors, including anyone with retirement accounts, to understand. They illuminate whether the US stock markets are fundamentally sound enough to stave off this young bear before it grows into a ravenous juggernaut.

https://www.zealllc.com/2023/bsq422fn.htm



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