U.S. stocks maintain a valuation premium relative to the international market, but this premium is not without basis. The key lies in the profitability quality and growth potential of U.S. listed companies. Compared to international competitors, American companies demonstrate stronger profitability and stability — enough to justify higher price-to-earnings ratios. In other words, when you buy U.S. stocks, you're not just paying for a higher valuation number, but for a higher quality profit foundation. From a long-term allocation perspective, this differentiated profitability advantage provides strong support for the valuation premium of U.S. stocks.