nowthenstatsThe S&P 500 is now seven years removed from its financial crisis low of 676.53 hit on 3/9/09.  There’s been a lot of talk about “the bull market turning 7 years old” today, but that’s actually not the case.  For the bull market to officially turn seven, the S&P 500 needs to take out its May 21st, 2015 high without dropping 20% from that high beforehand.  Until the 5/21/15 high is eclipsed, the age of the bull remains at 6.2 years (3/9/09 to 5/21/15).

As of today, the S&P 500 is up 193% from its closing low seven years ago.  We took a look at the composition of the index as it stood on 3/9/09 and calculated a number of metrics in order to compare them to the index as it’s made up today.  At right is a table that shows just how different things look.

On 3/9/09, the average stock price of S&P 500 index members had fallen down to just $24.32.  As of today, the average price of an S&P 500 stocks is $79.27.  The average market cap of an S&P 500 stock on 3/9/09 was just $12.9 billion, while today the average is $37 billion.  On 3/9/09, there were 119 stocks (more than 20%) that traded for less than $10 per share.  Today just 8 stocks in the index trade for less than $10 per share.  There were just 5 stocks trading more than $100/share on 3/9/09, while today there are 98 stocks trading in the triple digits.

Looking at performance numbers, at the close on 3/9/09, the average stock in the index had fallen 50% over the prior two years.  Over the last two years, the average S&P 500 stock is up 6.2%.  The average P/E ratio for S&P 500 stocks had fallen to 10.9 on 3/9/09, while the average P/E for S&P 500 stocks right now is 24.9.  Finally, the average dividend yield for S&P 500 stocks right now stands at 2.5%, while on 3/9/09, the average stock had a 5.1% dividend yield.

Below we provide a further trip down memory lane by highlighting the 25 largest stocks in the S&P 500 at the close on 3/9/09.  Exxon Mobil (XOM) was the biggest stock in the index at the time by more than $125 billion in market cap, while Wal-Mart (WMT), Microsoft (MSFT), Procter & Gamble (PG) and Johnson & Johnson (JNJ) rounded out the top five.  Apple (AAPL) was worth just $74 billion at the time, making it the 15th largest company in the index. (AMZN), now the 9th largest company in the S&P, was worth just $25 billion on 3/9/09, while Facebook (FB) wasn’t even a public company.

As shown at the bottom of the table, the average market cap of the 25 largest stocks in the index stood at $98.7 billion on 3/9/09, while the average P/E ratio was 10.47.

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Below is a list of the 25 largest stocks in the S&P 500 as of today.  Stocks highlighted in green were on the list back on 3/9/09, while stocks in red were not.  We also include each stock’s market cap as it stood on 3/9/09 so you can see how much each name has grown in size.

Looking for more Bespoke analysis?  Try out one of Bespoke’s research packages today.

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