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Detail for BE/ME Breakpoints
Annual Breakpoints:
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1926-2023
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Construction:
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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.
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Stocks:
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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.
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Percentiles:
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The file contains every
fifth percentile of BE/ME, from 5% to 100%.
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Copyright
Kenneth R. French