Home

Biography

Curriculum Vitae

Working Papers

Data Library

 

Benchmarks

 

U.S. Research Returns

 

U.S. Research Breakpoints

 

U.S. Book Equity Data

 

International Research Returns

Consulting Relationship
Fama / French Forum

Contact Information

 

Detail for BE/ME Breakpoints

Annual Breakpoints:

 

1926-2023

 

 

 

Construction:

 

We compute BE/ME breakpoints at the end of each June. The BE used in June of year t is the book equity for the last fiscal year end in t-1. ME is price times shares outstanding at the end of December of t-1.

 

 

 

Stocks:

 

The breakpoints for year t use all NYSE stocks for which we have ME for December of t-1 and (positive) BE for the last fiscal year end in t-1.

 

 

 

Percentiles:

 

The file contains every fifth percentile of BE/ME, from 5% to 100%.

 




 

 

 

Copyright Eugene F. Fama and Kenneth R. French