Economy · Household and corporate balance sheets
The market value of U.S. nonfinancial corporations' shares (Federal Reserve Financial Accounts) as a percent of GDP, the valuation gauge Warren Buffett popularized. It leaves out financial companies, so it runs below measures of the whole market's capitalization. The dashed line is the long-run average.
| Year | Average | Year close |
|---|---|---|
| 1947 | 36.62% | 36.62% |
| 1948 | 33.58% | 33.58% |
| 1949 | 38.36% | 38.36% |
| 1950 | 39.59% | 39.59% |
| 1951 | 41.45% | 41.45% |
| 1952 | 41.73% | 38.50% |
| 1953 | 35.35% | 37.33% |
| 1954 | 45.77% | 48.74% |
| 1955 | 53.58% | 55.87% |
| 1956 | 57.33% | 58.28% |
| 1957 | 53.71% | 51.75% |
| 1958 | 60.96% | 64.99% |
Source: FRED NCBEILQ027S (Nonfinancial Corporate Business; Corporate Equities; Liability, Level); FRED GDP (Gross Domestic Product). Federal Reserve Bank of St. Louis.
Gray bands mark U.S. recessions as dated by the NBER (FRED USREC).
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