Tobin's Q:

1.045 for Q4 2018
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Tobin's Q is at a current level of 1.045, a decrease of 0.1936 or 15.63% from last quarter. This is a decrease of 0.1175 or 10.11% from last year and is higher than the long term average of 0.7809.

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Historical Data

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Data for this Date Range  
Dec. 31, 2018 1.045
Sept. 30, 2018 1.238
June 30, 2018 1.158
March 31, 2018 1.152
Dec. 31, 2017 1.162
Sept. 30, 2017 1.128
June 30, 2017 1.109
March 31, 2017 1.119
Dec. 31, 2016 1.068
Sept. 30, 2016 1.070
June 30, 2016 1.078
March 31, 2016 1.078
Dec. 31, 2015 1.056
Sept. 30, 2015 1.016
June 30, 2015 1.124
March 31, 2015 1.153
Dec. 31, 2014 1.182
Sept. 30, 2014 1.162
June 30, 2014 1.186
March 31, 2014 1.159
Dec. 31, 2013 1.134
Sept. 30, 2013 1.069
June 30, 2013 1.044
March 31, 2013 1.064
Dec. 31, 2012 0.9676
   
Sept. 30, 2012 0.9762
June 30, 2012 0.9494
March 31, 2012 1.006
Dec. 31, 2011 0.9117
Sept. 30, 2011 0.8425
June 30, 2011 0.982
March 31, 2011 0.9773
Dec. 31, 2010 0.9425
Sept. 30, 2010 0.8805
June 30, 2010 0.8043
March 31, 2010 0.951
Dec. 31, 2009 0.9162
Sept. 30, 2009 0.8884
June 30, 2009 0.7358
March 31, 2009 0.5979
Dec. 31, 2008 0.6448
Sept. 30, 2008 0.7668
June 30, 2008 0.8728
March 31, 2008 0.8432
Dec. 31, 2007 0.8922
Sept. 30, 2007 0.9236
June 30, 2007 0.9458
March 31, 2007 0.9687
Dec. 31, 2006 0.97
Sept. 30, 2006 0.918

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Stats

Last Value 1.045
Latest Period Dec 2018
Last Updated Mar 12 2019, 15:40 EDT
Next Release
Average Growth Rate 3.06%
Value from 1 Year Ago 1.162
Change from 1 Year Ago -10.11%
Frequency Quarterly
Adjustment Not Seasonally Adjusted

Notes: Tobins Q is the market value of all public companies in the US divided by their replacement cost. Many macroeconomists consider the market overvalued when Tobin's Q is above its long term mean and undervalued when it is below the long-term mean. The ratio is calculated using the Z.1 Flow of Funds Report. It is B.102 Line 35 (Market Value of Equities Outstanding - Net Worth (Market Value) - Balance Sheet of Nonfarm Nonfinancial Corporate Business) divided by Line 32 (Total Net Worth (Market Value) - Balance Sheet of Nonfarm Nonfinancial Corporate Business).

Formula: US Market Value of Equities Outstanding - Net Worth (Market Value) - Balance Sheet of Nonfarm Nonfinancial Corporate Business / US Total Net Worth (Market Value) - Balance Sheet of Nonfarm Nonfinancial Corporate Business

Related Indicators

S&P 500 Monthly Return 3.93%
VIX 15.85
Wilshire 5000 Total Market Index 133.17 USD

Excel Add-In Codes

  • Indicator Code: I:TQ
  • Indicator Name: =YCI("I:TQ","name")
  • Data Point Example: =YCP("I:TQ")
  • Data Series Example: =YCS("I:TQ",,-4)

To find the codes for any of our financial metrics, see our Complete Reference of Metric Codes.

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