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Rekenthaler Report

Stock Market Signals, Then Versus Now

Clues from the largest-company lists.

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10 Years Ago
Can you guess the biggest American company in April 2010? It was ... Exxon Mobil (XOM). (Oil traded that month at $102 per barrel.) As suggested by that example, the list of the largest U.S. firms has changed markedly over the following decade. The movement reveals not only shifts in corporate fortunes, but also evolving investor attitudes.

Below is the list of the 10 largest American companies from April 2010. The chart contains each company's stock-market capitalization, its price/income ratio, and its Morningstar investment style. (By price/income ratio, I mean the standard price/earnings ratio, but with the earnings adjusted by removing extraordinary items. Morningstar calls the resulting figure "normalized income.")

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John Rekenthaler has a position in the following securities mentioned above: BRK.B. Find out about Morningstar’s editorial policies.