As of January 1, 2025, the NASDAQ 100 index has a trailing price-to-earnings (P/E) ratio of 32.36 and a forward P/E ratio of 26.41. Widely used as a benchmark by investors and fund managers, the index tracks the performance of technology and growth-focused companies. A significant portion of the NASDAQ 100 is concentrated in a few tech giants, with Apple Inc, Microsoft Corp, NVIDIA Corp, Alphabet Inc (Google’s parent company), Amazon.com Inc, Broadcom Ltd, Tesla Inc, & Meta Platforms Inc accounting for around 46% of its total weight.
Earnings for NASDAQ 100 companies have seen substantial growth in recent years, largely driven by the strong performance and exceptional profitability of the “Magnificent Seven” stocks. Looking ahead, analysts anticipate continued robust earnings growth, fueled by advancements in artificial intelligence and the rapid adoption of AI-driven applications.
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NASDAQ 100 Index – P/E (TTM) & CAPE Ratio
| Date | NASDAQ 100 Price | P/E (TTM) Ratio | EPS (TTM) * | Forward P/E Ratio | EPS (Forward) * | CAPE Ratio |
|---|---|---|---|---|---|---|
| 12/31/2024 | 21,012.18 | 32.36 | 151.19 | 26.41 | 185.29 | 51.80 |
| 9/30/2024 | 20,060.69 | 32.09 | 145.56 | 26.11 | 178.88 | 51.04 |
| 6/30/2024 | 19,682.87 | 31.82 | 144.04 | 26.62 | 172.17 | 51.47 |
| 3/31/2024 | 18,254.69 | 33.88 | 125.45 | 25.94 | 163.87 | 49.21 |
| 12/31/2023 | 16,825.93 | 30.25 | 129.52 | 24.94 | 157.09 | 46.84 |
| 6/30/2023 | 15,179.21 | 31.31 | 112.89 | 26.54 | 133.21 | 44.71 |
| 12/31/2022 | 10,939.76 | 23.72 | 107.42 | 20.76 | 122.73 | 34.20 |
| 6/30/2022 | 11,503.72 | 24.86 | 107.74 | 19.72 | 135.82 | 38.43 |
| 12/31/2021 | 16,320.08 | 38.00 | 100.00 | 28.44 | 133.62 | 59.53 |
* The table presents both trailing and forecasted Earnings Per Share (EPS), with values indexed to a base of 100 as of January 1, 2022. EPS (TTM) reflects the aggregate earnings of the NASDAQ 100 index stocks for the past 12 months and is calculated using the net income of the companies. EPS (Forward) is the forecasted (analyst consensus) earnings per share for the next 12 months and is calculated using the estimated operating profit of the companies.
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NASDAQ 100 Index Earnings Growth
In recent years, corporate earnings for NASDAQ-100 companies have experienced strong growth, fueled by rising demand for digital services, cloud computing, and artificial intelligence.
Despite a challenging 2022, where stock prices crashed due to inflation and interest rate hikes, corporate earnings remained remarkably resilient. By 2023, earnings growth accelerated as companies adapted to economic conditions, with many capitalizing on AI advancements. The Magnificent Seven —Apple, Microsoft, NVIDIA, Alphabet, Amazon, Meta, and Tesla— played a pivotal role in driving overall profitability.
The momentum continued in 2024, with earnings showing robust expansion. Analysts anticipate strong earnings growth in 2025, driven by AI innovation (AI chips, cloud AI services, and automation), cloud computing, and increasing demand for digital services across both consumer and enterprise markets. Experts project another year of double-digit earnings growth for NASDAQ-100 companies.
NASDAQ 100 Index Overview
The NASDAQ-100 is a stock market index that includes 100 of the largest non-financial companies listed on the NASDAQ stock exchange. Unlike the broader NASDAQ Composite, which includes thousands of stocks, the NASDAQ-100 focuses on large-cap growth companies, making it a key benchmark for tech-driven investment strategies.
The index is heavily technology-driven, but also includes companies from healthcare, consumer discretionary, and communication services. The index is dominated by the Magnificent Seven stocks who represent almost half of its total market cap.