After hearing an analyst on Bloomberg discuss the relatively high levels of cash on hand, I wanted to have a deeper look at the numbers myself.
I struggled with data quality, and sample size, until by random chance DistressedVolatility showed me ycharts.com. What a great site.
Check this out:
| Cash On Hand (B USD) | PEG | Market Cap (B USD) | (Cash on hand / Market Cap) / PEG | |
| Basic Materials | 222.07 | 1.43 | 4680 | 0.033182416 |
| Utilities | 43.59 | 2 | 620.87 | 0.035103967 |
| Industrial Goods | 115.31 | 1.54 | 957.17 | 0.07822709 |
| Healthcare | 254.29 | 1.24 | 2110 | 0.097190797 |
| Services | 321.13 | 0.99 | 2830 | 0.114619695 |
| Technology | 632.98 | 1.19 | 4470 | 0.11899686 |
| Consumer Goods | 243.28 | 0.77 | 2240 | 0.141048237 |
| Conglomerates | 147.42 | 0.49 | 415.91 | 0.723370784 |
| Financial | 6930 | 1.15 | 4940 | 1.219855659 |
That cash, will be deployed, sooner or later.
Buybacks are coming. More dividends are coming. Aquisitions are coming.