PERatios

Price-Earnings Ratios for 44 Randomly-Chosen S&P 500 Stocks Obs Company Ticker symbol P/E Ratio GICS Sector Location of Headquarters 1 American Tower Corp A AMT 59 Telecommunications Services Boston, Massachusetts 2 Analog Devices Inc ADI 16 Information Technology Norwood, Massachusetts 3 Applied Materials Inc AMAT 20 Information Technology Santa Clara, California 4 Best Buy Co. Inc. BBY 10 Consumer Discretionary Richfield, Minnesota 5 Big Lots Inc. BIG 11 Consumer Discretionary Columbus, Ohio 6 Carefusion Corporation CFN 38 Health Care San Diego, California 7 Coventry Health Care Inc. CVH 10 Health Care Bethesda, Maryland 8 Cummins Inc. CMI 23 Industrials Columbus, Indiana 9 Dell Inc. DELL 13 Information Technology Round Rock, Texas 10 Dentsply International XRAY 18 Health Care York, Pennsylvania 11 Donnelley (R.R.) & Sons RRD 31 Industrials Chicago, Illinois 12 Eastman Chemical EMN 16 Materials Kingsport, Tennessee 13 Entergy Corp. ETR 10 Utilities New Orleans, Louisiana 14 Exelon Corp. EXC 10 Utilities Chicago, Illinois 15 Fiserv Inc FISV 18 Information Technology Brookfield, Wisconsin 16 FMC Corporation FMC 20 Materials Philadelphia, Pennsylvania 17 Gap (The) GPS 12 Consumer Discretionary San Francisco, California 18 Hartford Financial Svc.Gp. HIG 11 Financials Hartford, Connecticut 19 Hess Corporation HES 7 Energy New York, New York 20 Hospira Inc. HSP 24 Health Care Lake Forest, Illinois 21 Intel Corp. INTC 11 Information Technology Santa Clara, California 22 Invesco Ltd. IVZ 27 Financials Atlanta, Georgia 23 Johnson Controls JCI 17 Consumer Discretionary Milwaukee, Wisconsin 24 King Pharmaceuticals KG 42 Health Care Bristol, Tennessee 25 Kroger Co. KR 13 Consumer Staples Cincinnati, Ohio 26 Macy's Inc. M 17 Consumer Discretionary Cincinnati, Ohio 27 Mattel Inc. MAT 14 Consumer Discretionary El Segundo, California 28 Medco Health Solutions Inc. MHS 21 Health Care Franklin Lakes, New Jersey 29 MetroPCS Communications Inc. PCS 21 Telecommunications Services Richardson, Texas 30 Murphy Oil MUR 15 Energy El Dorado, Arkansas 31 NetApp NTAP 37 Information Technology Sunnyvale, California 32 Occidental Petroleum OXY 19 Energy Los Angeles, California 33 O'Reilly Automotive ORLY 22 Consumer Discretionary Springfield, Missouri 34 PepsiCo Inc. PEP 16 Consumer Staples Purchase, New York 35 PG&E Corp. PCG 16 Utilities San Francisco, California 36 PPL Corp. PPL 14 Utilities Allentown, Pennsylvania 37 Reynolds American Inc. RAI 19 Consumer Staples Winston-Salem, North Carolina 38 Roper Industries ROP 26 Industrials Sarasota, Florida 39 Starbucks Corp. SBUX 26 Consumer Discretionary Seattle, Washington 40 Sunoco Inc. SUN 28 Energy Philadelphia, Pennsylvania 41 Titanium Metals Corp TIE 50 Materials Dallas, Texas 42 United Health Group Inc. UNH 9 Health Care Minnetonka, Minnesota 43 Ventas Inc VTR 37 Financials Chicago, Illinois 44 Wal-Mart Stores WMT 13 Consumer Staples Bentonville, Arkansas Source: www.finance.yahoo.com, accessed 12-30-2010. Each of the 500 companies on an alphabetical list was assigned a random number using Excel's =RAND() function. Companies were then sorted on the =RAND() column, and the first 44 companies on the sorted list were chosen as a random sample.

P/E Ratio min 7 59 max 59 16 n 44 20 10 # of bins, k 6.5 11 bin width 8.0 38 10 lower range upper range Frequency 23 0 8.0 1 13 8.0 16.0 19 18 16.0 24.0 13 31 24.0 32.0 5 16 32.0 40.0 3 10 40.0 48.0 1 10 48.0 56.0 1 18 56.0 64.0 1 20 44 12 11 7 24 11 27 17 42 13 17 14 21 21 15 37 19 22 16 16 14 19 26 26 28 50 9 37 13 8.0 1 0 2 4 6 8 10 12 14 16 18 20 Frequency

16.0 24.0 32.0 40.0 48.0 56.0 64.0 Histogram of P/E Ratios P/E Ratios