Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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Historical Valuation Ratios (Summary)
CrowdStrike Holdings Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30).
The valuation metrics exhibit a cyclical pattern characterized by an initial period of high premiums, a significant contraction through 2022 and early 2023, and a subsequent period of expansion through early 2026. The appearance of earnings-based ratios in late 2023 indicates a transition toward positive profitability.
- Price to Sales (P/S) Ratio
- The P/S ratio began at a high plateau, peaking at 54.14 in July 2021. This was followed by a steady decline, reaching a trough of 12.81 in January 2023. From mid-2023 onward, a recovery trend is observed, with the ratio fluctuating and eventually trending upward to a peak of 35.93 by April 2026. This movement suggests a period of valuation compression followed by a renewed increase in the market's willingness to pay a premium for each dollar of revenue.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio closely mirrors the trajectory of the P/S ratio. It reached an early peak of 68.13 in July 2021 before descending to 19.61 in January 2023. A gradual recovery occurred thereafter, with the ratio ascending to 39.50 by April 2026. The tight correlation between the P/S and P/BV trends indicates that the valuation is driven primarily by growth expectations and market sentiment rather than shifts in the underlying book value.
- Price to Earnings (P/E) and Price to Operating Profit (P/OP) Ratios
- Earnings and operating profit ratios were absent for the first several years of the period, suggesting a lack of positive net income or operating profit. The P/E ratio first appears in January 2024 at a very high multiple of 892.67, before declining to 391.27 by July 2024 and then rising again to 675.68 by October 2024. Similarly, the P/OP ratio appeared briefly in early 2024 with a high of 3,413.25 in April 2024, dropping sharply to 1,246.42 by July 2024. The extreme height of these multiples is indicative of a company in the early stages of profitability with high anticipated growth rates.
Overall, the valuation data reveals a shift from a pure revenue-based valuation model to one that incorporates profitability. While the metrics remain high relative to traditional value stocks, the stabilization and subsequent rise in P/S and P/BV ratios through 2026 suggest a sustained market confidence in the growth trajectory.
Price to Earnings (P/E)
CrowdStrike Holdings Inc., historical P/E calculation (quarterly data)
| Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Net income (loss) attributable to CrowdStrike (in thousands) | ||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Accenture PLC | ||||||||||||||||||||||||||||
| Adobe Inc. | ||||||||||||||||||||||||||||
| AppLovin Corp. | ||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||||||
| Datadog Inc. | ||||||||||||||||||||||||||||
| International Business Machines Corp. | ||||||||||||||||||||||||||||
| Intuit Inc. | ||||||||||||||||||||||||||||
| Microsoft Corp. | ||||||||||||||||||||||||||||
| Oracle Corp. | ||||||||||||||||||||||||||||
| Palantir Technologies Inc. | ||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | ||||||||||||||||||||||||||||
| Salesforce Inc. | ||||||||||||||||||||||||||||
| ServiceNow Inc. | ||||||||||||||||||||||||||||
| Synopsys Inc. | ||||||||||||||||||||||||||||
| Workday Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30).
1 Data adjusted for splits and stock dividends.
2 Q1 2027 Calculation
EPS
= (Net income (loss) attributable to CrowdStrikeQ1 2027
+ Net income (loss) attributable to CrowdStrikeQ4 2026
+ Net income (loss) attributable to CrowdStrikeQ3 2026
+ Net income (loss) attributable to CrowdStrikeQ2 2026)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of CrowdStrike Holdings Inc. Quarterly or Annual Report.
4 Q1 2027 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The financial trajectory of the equity exhibits a significant divergence between share price appreciation and earnings stability over the analyzed period. While the share price experienced notable volatility between 2021 and 2022, reaching a period low of 117.65 in October 2022, it entered a sustained growth phase starting in 2023, eventually peaking at 719.09 by April 2026.
- Earnings per Share (EPS) Trends
- A prolonged period of negative earnings is observed from April 2021 through October 2023. A pivot to profitability occurred in January 2024, with EPS peaking at 0.69 in July 2024. This positive trend was short-lived, as earnings reverted to negative values in January 2025. The losses intensified during the middle of 2025, reaching a low of -1.22 in October 2025, before beginning a recovery toward -0.12 by April 2026.
- Price to Earnings (P/E) Analysis
- The P/E ratio remained unavailable for the majority of the timeline due to negative earnings. During the brief window of profitability in 2024, the P/E ratio was exceptionally high, fluctuating between 391.27 and 892.67. These elevated multiples indicate that the market placed a substantial premium on the stock, pricing in aggressive future growth expectations rather than current earnings levels.
- Valuation Divergence
- A critical disconnect is evident starting in 2025. Despite the return to negative EPS, the share price continued to climb sharply, rising from 308.86 in October 2024 to 719.09 in April 2026. This suggests that investor sentiment and valuation are decoupled from immediate quarterly profitability, reflecting a market valuation based on long-term strategic value or anticipated future revenue scaling.
Price to Operating Profit (P/OP)
CrowdStrike Holdings Inc., historical P/OP calculation (quarterly data)
| Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Income (loss) from operations (in thousands) | ||||||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Accenture PLC | ||||||||||||||||||||||||||||
| Adobe Inc. | ||||||||||||||||||||||||||||
| AppLovin Corp. | ||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||||||
| Datadog Inc. | ||||||||||||||||||||||||||||
| International Business Machines Corp. | ||||||||||||||||||||||||||||
| Intuit Inc. | ||||||||||||||||||||||||||||
| Microsoft Corp. | ||||||||||||||||||||||||||||
| Oracle Corp. | ||||||||||||||||||||||||||||
| Palantir Technologies Inc. | ||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | ||||||||||||||||||||||||||||
| Salesforce Inc. | ||||||||||||||||||||||||||||
| ServiceNow Inc. | ||||||||||||||||||||||||||||
| Synopsys Inc. | ||||||||||||||||||||||||||||
| Workday Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30).
1 Data adjusted for splits and stock dividends.
2 Q1 2027 Calculation
Operating profit per share
= (Income (loss) from operationsQ1 2027
+ Income (loss) from operationsQ4 2026
+ Income (loss) from operationsQ3 2026
+ Income (loss) from operationsQ2 2026)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of CrowdStrike Holdings Inc. Quarterly or Annual Report.
4 Q1 2027 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The financial trajectory between April 2021 and April 2026 is characterized by significant volatility in equity valuation coupled with persistent challenges in achieving sustained operating profitability.
- Share Price Trends
- A notable period of decline is observed from April 2021, where the share price was $206.94, reaching a low of $117.65 in October 2022. This was followed by a strong recovery trend, with the price ascending to $342.18 by April 2024. Despite subsequent fluctuations, a substantial upward surge occurred in the final stages of the period, culminating in a peak of $719.09 in April 2026.
- Operating Profit per Share Performance
- Operating profits remained negative for the vast majority of the analyzed period. A brief transition to positive territory occurred between April 2024 ($0.10) and July 2024 ($0.22). This positive trend was short-lived, as the company returned to operating losses in October 2024. Losses widened significantly throughout 2025, reaching a nadir of -$1.53 in October 2025, before recovering slightly to -$0.81 by April 2026.
- Price to Operating Profit (P/OP) Interpretation
- The P/OP ratio is only observable during the brief window of positive operating profitability in 2024. In April 2024, the ratio was exceptionally high at 3,413.25, indicating a massive market premium relative to the nominal operating profit. By July 2024, the ratio contracted to 1,246.42. This decrease was driven by the operating profit per share more than doubling from $0.10 to $0.22, which offset the simultaneous decline in share price from $342.18 to $271.67.
Price to Sales (P/S)
CrowdStrike Holdings Inc., historical P/S calculation (quarterly data)
| Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Revenue (in thousands) | ||||||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Accenture PLC | ||||||||||||||||||||||||||||
| Adobe Inc. | ||||||||||||||||||||||||||||
| AppLovin Corp. | ||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||||||
| Datadog Inc. | ||||||||||||||||||||||||||||
| International Business Machines Corp. | ||||||||||||||||||||||||||||
| Intuit Inc. | ||||||||||||||||||||||||||||
| Microsoft Corp. | ||||||||||||||||||||||||||||
| Oracle Corp. | ||||||||||||||||||||||||||||
| Palantir Technologies Inc. | ||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | ||||||||||||||||||||||||||||
| Salesforce Inc. | ||||||||||||||||||||||||||||
| ServiceNow Inc. | ||||||||||||||||||||||||||||
| Synopsys Inc. | ||||||||||||||||||||||||||||
| Workday Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30).
1 Data adjusted for splits and stock dividends.
2 Q1 2027 Calculation
Sales per share
= (RevenueQ1 2027
+ RevenueQ4 2026
+ RevenueQ3 2026
+ RevenueQ2 2026)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of CrowdStrike Holdings Inc. Quarterly or Annual Report.
4 Q1 2027 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The Price to Sales (P/S) ratio exhibits significant volatility over the observed period, characterized by an initial peak, a prolonged correction phase, and a subsequent recovery toward higher valuation multiples. While sales per share demonstrate a consistent and linear upward trajectory, the P/S ratio fluctuates primarily in response to share price volatility.
- Sales per Share Performance
- A consistent growth pattern is observed in sales per share, which increased steadily from 4.42 USD in April 2021 to 20.01 USD by April 2026. This uninterrupted growth indicates a strong and stable expansion of the revenue base relative to the number of shares outstanding throughout the five-year period.
- P/S Ratio Valuation Trends
- The P/S ratio began at a high valuation, peaking at 54.14 in July 2021. This was followed by a sharp downward trend, reaching a cyclical low of 12.81 in January 2023. From early 2023 through April 2026, the ratio entered a recovery phase, characterized by intermittent fluctuations, eventually rising to 35.93. This suggests a market reassessment of the company's revenue multiple over time.
- Correlation between Share Price and Valuation Multiples
- The fluctuations in the P/S ratio are more closely correlated with share price movements than with sales growth. For example, the contraction of the P/S ratio between July 2021 and January 2023 occurred despite increasing sales per share, driven by a decline in the share price from 269.97 USD to 121.68 USD. Conversely, the expansion of the ratio toward the end of the period was fueled by a substantial increase in the share price, which reached 719.09 USD by April 2026.
- Comparative Analysis of Valuation Phases
- The data reveals three distinct valuation phases: an aggressive growth phase (2021) where multiples exceeded 40x, a consolidation phase (2022-2023) where the ratio stabilized between 12x and 23x, and a re-acceleration phase (2024-2026) where the ratio climbed back above 30x. This pattern indicates a shift from extreme premium valuation to a more moderated level, followed by a renewed increase in market confidence.
Price to Book Value (P/BV)
CrowdStrike Holdings Inc., historical P/BV calculation (quarterly data)
| Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Total CrowdStrike Holdings, Inc. stockholders’ equity (in thousands) | ||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Accenture PLC | ||||||||||||||||||||||||||||
| Adobe Inc. | ||||||||||||||||||||||||||||
| AppLovin Corp. | ||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||||||
| Datadog Inc. | ||||||||||||||||||||||||||||
| International Business Machines Corp. | ||||||||||||||||||||||||||||
| Intuit Inc. | ||||||||||||||||||||||||||||
| Microsoft Corp. | ||||||||||||||||||||||||||||
| Oracle Corp. | ||||||||||||||||||||||||||||
| Palantir Technologies Inc. | ||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | ||||||||||||||||||||||||||||
| Salesforce Inc. | ||||||||||||||||||||||||||||
| ServiceNow Inc. | ||||||||||||||||||||||||||||
| Synopsys Inc. | ||||||||||||||||||||||||||||
| Workday Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-04-30), 10-K (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30).
1 Data adjusted for splits and stock dividends.
2 Q1 2027 Calculation
BVPS = Total CrowdStrike Holdings, Inc. stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of CrowdStrike Holdings Inc. Quarterly or Annual Report.
4 Q1 2027 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The valuation metrics for the period between April 2021 and April 2026 demonstrate a significant divergence between the steady growth of intrinsic book value and the high volatility of the market share price, resulting in a fluctuating Price to Book Value (P/BV) ratio.
- Book Value per Share (BVPS) Growth
- A consistent and linear upward trajectory is observed in the book value per share, which climbed from 3.76 USD in April 2021 to 18.20 USD by April 2026. This steady increase indicates a disciplined accumulation of equity and a strengthening of the company's net asset position over the analyzed period.
- P/BV Ratio Trajectory and Volatility
- The P/BV ratio experienced a period of extreme expansion in early 2021, peaking at 68.13 in July 2021. This was followed by a substantial correction throughout 2022, reaching a cyclical low of 19.61 in January 2023. Following this contraction, the ratio entered a phase of relative stabilization, generally oscillating between 20 and 35, before trending upward again to 39.50 by April 2026.
- Correlation Between Market Price and Equity Value
- The fluctuations in the P/BV ratio are primarily driven by share price volatility rather than changes in book value. For instance, while the BVPS grew predictably, the share price saw sharp declines in late 2022 and subsequent surges in 2024 and 2026. The high sustained P/BV levels suggest that market valuation remains heavily weighted toward growth expectations and intangible assets rather than tangible book value.
- Valuation Extremes
- The data reveals a significant compression of the valuation multiple between July 2021 (68.13) and January 2023 (19.61), representing a reduction of approximately 71% in the premium paid over book value. However, the final recorded value of 39.50 indicates a resurgence in market optimism or an expansion in the valuation multiple toward the end of the period.