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US Market Valuation · Updated Daily

Is the market overvalued right now?

Warren Buffett called this ratio "probably the best single measure of where valuations stand at any given moment."

Cheap Fair High Extreme
—%
Total Market Cap / GDP
—
—
Total Market Cap
—
US GDP (annualized)
~120%
Historical Average

Valuation Scale

0–100%
Undervalued
100–135%
Fair Value
135–175%
Overvalued
>175%
Strongly OV

Historical Chart (1990–Today)

What is this indicator?

The Buffett Indicator compares the total value of all US publicly traded stocks to GDP. When stocks grow much faster than the economy, they may be overpriced.

Market Cap ÷ GDP = Ratio

What does it mean today?

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How we calculate this

Market Cap
S&P 500 price via Yahoo Finance, extrapolated to total US market. S&P 500 represents ~82% of total market cap.
GDP
Official US GDP from FRED (Federal Reserve Bank of St. Louis). Updated every quarter.
Auto-calibration
Our conversion factor is automatically recalibrated daily against currentmarketvaluation.com, which uses official Federal Reserve Z.1 flow of funds data. No manual intervention needed.
⚠️
This is an approximation. No free API provides real-time total US market cap directly. We are transparent about our methodology so you can judge the accuracy yourself.