This article series provides a monthly dashboard of industries in each sector of the GICS classification. It compares valuation and quality factors relative to their historical averages in each industry.
Executive summary
Combining 3 valuation ratios, energy, metals/mining, and paper/wood look underpriced by more than 20% relative to historical averages. Chemicals are close to fair price. Construction materials have mixed ratios: price/earnings ratio points to about 20% underpricing, but price/sales and price/free cash flow point to about 20% overpricing. Packaging is the only group looking overpriced for the 3 ratios. However, it is also