Why do stocks return ~10% annually when GDP grows less than 3% and the average profit-to-market-cap ratio is stable at steady state?

GDP is proportional to revenues which should be proportional to profits and the average P/E ratio should be fixed ignoring cyclical behavior and special circumstances in monetary policy. It seems I'm missing something big that would account for the huge discrepancy of 10% VS 3%

Edit : as a reply below indicates, my misunderstanding was rooted in assuming that typical GDP growth figures are annualized. They are not. They refer to quarters

Edit2: someone replied the GDP growth figures are annualized (ie I may have had it right at the beginning) . Makes sense with piketti's inequality r>g

Submitted June 26, 2018 at 09:30PM by donald_duck223 https://ift.tt/2yNWTGc