Here’s how much revenue S&P 500 companies make from overseas

Goldman Sachs analysts estimate that S&P 500 companies still generate the majority of revenue domestically, with 28% of the group’s $18 trillion in sales coming from abroad. Overseas exposure is concentrated in Europe, the Middle East and Africa (9%) and Asia-Pacific (8%), while the Russell 2000 is even more domestic at 20% foreign revenue and the Nasdaq 100 is more global at 39%. The article suggests this revenue mix matters for market performance: companies with more domestic sales have recently outperformed more internationally exposed peers by 5% since late May as the U.S. dollar has strengthened. Overall, the piece is a macro/sector allocation note rather than a direct catalyst, implying a relative tailwind for domestically focused U.S. stocks versus multinational-heavy names if dollar strength persists.