For 12/03, the NH PE was 28.1, or 1.57 that of the S&P 500.

For 6/04, the NH PE was 25.1, or 1.49 that of the S&P 500.

Two more reports are now available:

For 12/04, the NH PE was 1.5 that of the S&P 500.

For 6/05, the NH PE was 1.49 that of the S&P 500.

The 12/05 report is now available, and the NH PE was 1.6 that of the S&P 500. This is the highest relative level in two decades.

The 6/06 report is now available, and the NH PE was 1.62 that of the S&P 500. This is still at the highest relative level in two decades.

The 12/06 report is now available, and the NH PE was 1.49 that of the S&P 500. This is still very near the high end of its range over the last 20 to 25 years.

The 6/07 report is now available, and the NH PE was 1.5 that of the S&P 500. This is still very near the high end of its range over the last 20 to 25 years.

The 12/07 report is now available, and the NH PE was 1.62 that of the S&P 500. Still very near it's highest level of the last 25 years.

The 6/08 report is now available, and the NH PE was at 1.67 that of the S&P 500. This is the highest level in 25 years.