According to the latest Global Business Outlook survey jointly conducted by Duke University and CFO magazine, 55% of U.S. companies say they think the stock market is overvalued, while only 6% of them think the stock market is undervalued.

More than 1,200 CFOs, including 510 from the U.S., participated in this recent quarterly survey. The survey questions cover five main parts: Business Optimism, CFO top concerns, Employment and wages, stock market valuation, and risk management concerns. (Click to download: CFOsurveyOverview_2015Q3 Final)

CFOs are very bearish on the U.S. market,” said Fuqua professor Campbell R. Harvey, a founding director of the survey. “Our survey took place during a volatile time where there was a 10 percent market correction. Even after this drawdown, 55 percent of CFOs thought the market was overvalued. source.

is the stock market overvalued or undervalued_CFO Suvey overview 2015Q3

screenshot from the 2015Q3 Global Busines Outlook summary.

Here are some stats on various metrics from 510 U.S. firms.

  • CFOs’ expected earnings growth in next 12 months is 3.0%, down from 11.7% last year.
  • CFOs’ expected revenue growth in the next 12 months is 3.5%, down from 7.3% last year.
earnings and revenue growth

**The survey has been conducted every quarter since July 1996. An archive of past surveys is available under the “Past Results” tab athttp://www.cfosurvey.org.

Not a lot of bulls in CFO land…


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