RT Journal Article SR Electronic T1 What Does the P-E Ratio Mean? JF The Journal of Investing FD Institutional Investor Journals SP 27 OP 34 DO 10.3905/joi.2000.319382 VO 9 IS 3 A1 Sangkyun Park YR 2000 UL https://pm-research.com/content/9/3/27.abstract AB The P-E ratio of S&P 500 stocks is found to be fairly well explained by future (ex post) movements of corporate earnings and interest rates. Stock markets appear to foresee as far as eight years with reasonable accuracy. This finding suggests that the P-E ratio is of limited use as a measure of stock valuation.