Earnings Calendar

Calendar & Timing

Shows upcoming earnings dates for S&P 500 companies. Timing labels indicate when the report is expected:

• BMO — Before Market Open (pre-market)
• AMC — After Market Close (post-market)
• TBD — Timing not yet confirmed

Dates are sourced from Yahoo Finance and may shift. Always verify with the company's IR page.

Historical Moves

Avg |Gap| — Average absolute opening gap after earnings across all available quarters (typically 20-25). This shows how much the stock typically moves on earnings, regardless of direction.

Pre-Earnings (5d) — Average price change in the 5 trading days before earnings. Positive values suggest a pre-earnings drift (run-up).

Post Gap vs 1d Move — The gap measures the overnight reaction (open vs previous close). The 1d move measures the full-day reaction including intraday reversal or continuation.

Beat Rate — Percentage of quarters where reported EPS exceeded the consensus estimate.

Implied Move (Options)

Impl. Move — The expected price move priced into the options market, calculated from the at-the-money (ATM) straddle price:

Implied Move = (Call + Put) / Stock Price × 100

Uses the nearest option expiry after the earnings date. A high implied move relative to the historical average suggests the market expects an unusually large reaction.

P/C Ratio — Put/Call volume ratio from the option chain. Values above 1.0 indicate more put activity (bearish hedging), below 1.0 indicates call-heavy flow (bullish positioning).

Data is for informational purposes only and does not constitute investment advice. Options data is approximate — use a real-time broker for trading decisions.

Data Sources: Earnings dates & EPS estimates derived from public filings and financial data aggregators. Historical price data from Tiingo. Option chain data (implied moves, P/C ratios) from publicly available options markets. Updated daily after market close.

Earnings dates are approximate and sourced from public filings. Always verify with the company's Investor Relations page before making trading decisions.

Understanding Forward P/E by Sector

The Forward P/E (Price-to-Earnings) ratio divides the current stock price by the consensus analyst estimate for next year's earnings per share. It reflects how much investors are willing to pay for each dollar of expected future earnings.

A low P/E (<18) may indicate undervaluation or low growth expectations. A high P/E (>25) may signal overvaluation or high growth expectations priced in. Context matters — a "high" P/E in Technology is normal, while the same ratio in Energy would be extreme.

Typical sector P/E ranges (S&P 500 historical averages):

Why Real Estate P/E Looks Extreme

Real Estate (REIT) forward P/E ratios of 30–60+ are not a bug — they are structurally inflated because traditional EPS is the wrong metric for REITs.

REITs own physical property (buildings, towers, warehouses) that depreciates on the income statement even though the real asset often appreciates in value. This depreciation charge crushes reported EPS, making the P/E ratio artificially high.

The industry-standard metric is FFO (Funds From Operations), which adds back depreciation to earnings. A REIT with a 40x P/E may actually trade at a reasonable 15–20x P/FFO.

Current sector context:

• Median REIT forward P/E: ~35 (vs mean ~41 — outliers like DOC, VTR, DLR pull the average up)
• Negative P/E stocks (e.g., ARE) are excluded from the average but would further distort results if included
• Always compare REITs on a P/FFO basis, not P/E

General P/E Guidelines

• S&P 500 average: ~19–21x forward P/E (long-term median ~17x)
• Below sector average: May signal value opportunity or deteriorating fundamentals
• Above sector average: Market expects above-average growth or quality premium
• Negative P/E: Company is expected to lose money — filtered from sector averages
• Always pair P/E with earnings growth (PEG ratio) — a high P/E is justified if growth is high

Reading the S&P 500 Forward Earnings Table

The top-row stats and the sector breakdown use four core metrics. The table column “Stocks” tells you how many companies in each sector had usable forward EPS data — the rest are filtered (e.g. negative EPS, missing analyst coverage).

Forward P/E

Cap-weighted aggregate Price ÷ next-12-month consensus EPS across the index/sector. The top stat 20.0 is the S&P 500's aggregate forward P/E — equivalent to dividing the index's total market cap by the consensus aggregate forward earnings. Each stock contributes proportionally to its market cap, so mega-caps dominate.

Median P/E

The middle Forward P/E if you sort all member stocks. Unweighted — ignores market cap. Robust against outliers: a single REIT trading at 200x doesn't skew it like it would skew the Mean. Use this when you want to know what a typical sector member looks like, not what the few largest companies do.

Mean P/E

Simple arithmetic average of all member Forward P/Es. Heavily skewed by outliers. Useful for spotting distortion: when Mean and Median diverge sharply (e.g. Real Estate 43 vs 33.5), it tells you a few high-P/E stocks are pulling the average up. Negative-EPS stocks are excluded from both.

Avg Growth

Average expected EPS growth rate from analyst consensus (year-over-year, current year → next year). Caveats: analyst targets historically over-shoot by 30-50% on average, and a few cyclical recoveries (Basic Materials, Energy) can show triple-digit growth that won't repeat. Pair with P/E to evaluate the PEG ratio — a 25x P/E with 50% growth is reasonable; with 5% growth it's rich.

Top-Row Stats Beyond the Table

• Earnings Yield = 1 ÷ Forward P/E (expressed as %). Direct comparison to bond yields: if Earnings Yield (4.99%) is above the 10-year Treasury yield, equities are “cheap” relative to bonds; below it, equities are demanding a growth premium.
• Median Growth — like Median P/E, the unweighted middle of all stocks' expected EPS growth. Less sensitive to a few mega-cap turnaround stories.
• Coverage (e.g. 503/502) — how many stocks had usable forward EPS data over the index member count. Numbers above 500 reflect dual-class members like GOOG/GOOGL or BRK.A/BRK.B counted separately.