• Homrich & Berg flagged earnings downside as the key near-term risk for US equities as surging Treasury yields compress S&P 500 multiples.
• Its valuation model implied a 19x S&P 500 P/E, matching the 19x forward multiple, well below the 24.4x trailing P/E.
• Model inputs included a 4.83% 2-year yield, 48 bps 10-year minus 2-year spread, 1.46% BAA spread, 21.4% consensus EPS growth.
• At current rates, 10%-15% EPS growth implies a 14.5x-16.2x multiple; 0% growth implies about 12x.
• Nearly 24% EPS growth over the next year could lift P/E to 21.1x-24.8x; its model forecast sits below 27.8% consensus.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Homrich & Berg Inc published the original content used to generate this news brief on October 07, 2026, and is solely responsible for the information contained therein.