The latest reading sits above the high threshold.
August 2026 closed at 26.11 times reported earnings, 58% above the long-run median of 16.52. That places the reading near the 90th percentile of 1,280 monthly observations.
Monthly trailing P/E
January 1920 to latest completed month
Every observation is shown on a linear scale. The earnings collapse around 2009 produced unusually high ratios; use the 30Y and 10Y views to inspect ordinary variation. Dagger (†) marks a source estimate.
Method
P20, median, and P80 use R-7 linear interpolation across all included monthly observations. Current rank is the share of included months with a value at or below the latest reading.
Data treatment
The series starts in January 1920 and ends at the latest completed calendar month. Partial current-month snapshots are excluded. Completed months marked as estimates by the source are retained and identified.
Source
Multpl, “S&P 500 PE Ratio by Month”, retrieved 2026-09-07. Historical figures may be revised by the source.