Price to Book Value (P/BV)
since 2012
Calculation
Diamondback Energy Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Diamondback Energy, Inc. stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 24, 2022 | 1.88 | = | 127.89 | ÷ | 68.13 | 68.13 | = | 12,088 | ÷ | 177,414,969 | |
| Feb 25, 2021 | 1.24 | = | 69.06 | ÷ | 55.65 | 55.65 | = | 8,794 | ÷ | 158,015,647 | |
| Feb 27, 2020 | 0.71 | = | 59.48 | ÷ | 83.70 | 83.70 | = | 13,249 | ÷ | 158,284,486 | |
| Feb 25, 2019 | 1.26 | = | 105.29 | ÷ | 83.34 | 83.34 | = | 13,699 | ÷ | 164,381,522 | |
| Feb 15, 2018 | 2.34 | = | 125.15 | ÷ | 53.53 | 53.53 | = | 5,255 | ÷ | 98,167,289 | |
| Feb 15, 2017 | 2.73 | = | 111.84 | ÷ | 41.02 | 41.02 | = | 3,697 | ÷ | 90,143,934 | |
| Feb 19, 2016 | 2.74 | = | 72.08 | ÷ | 26.28 | 26.28 | = | 1,876 | ÷ | 71,397,041 | |
| Feb 20, 2015 | 2.53 | = | 75.09 | ÷ | 29.73 | 29.73 | = | 1,751 | ÷ | 58,900,083 | |
| Feb 19, 2014 | 3.40 | = | 61.04 | ÷ | 17.95 | 17.95 | = | 846 | ÷ | 47,106,216 | |
| Mar 1, 2013 | 1.79 | = | 22.34 | ÷ | 12.49 | 12.49 | = | 462 | ÷ | 36,986,532 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Diamondback Energy Inc. Annual Report.
The financial trajectory from 2013 to 2022 reveals significant volatility in valuation metrics, characterized by an initial period of high premium, a subsequent sharp contraction, and a recent recovery phase.
- Price to Book Value (P/BV) Dynamics
- The P/BV ratio peaked at 3.40 in 2014, reflecting a high market premium relative to the accounting value of assets. Between 2015 and 2018, the ratio stabilized within a range of 2.34 to 2.74. A significant devaluation occurred between 2019 and 2020, with the ratio dropping to a low of 0.71, indicating that the market valued the company below its book value. A recovery trend followed, with the ratio ascending to 1.24 in 2021 and 1.88 by 2022.
- Book Value per Share (BVPS) Progression
- A sustained increase in BVPS is observed from 2013, starting at 12.49 and reaching a peak of 83.70 by February 2020. This suggests a period of substantial equity growth. A sharp decline in BVPS occurred in 2021, falling to 55.65, followed by a partial recovery to 68.13 in 2022.
- Share Price Volatility and Correlation
- The share price exhibited a general upward trend from 2013 to 2018, peaking at 125.15. A severe contraction followed, with the price dropping to 59.48 by February 2020. The divergence between the peaking BVPS (83.70) and the declining share price (59.48) in 2020 was the primary driver for the P/BV ratio falling below 1.0. By February 2022, the share price reached a new high of 127.89, contributing to the restoration of the P/BV ratio.
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Comparison to Competitors
Diamondback Energy Inc., P/BV, long-term trends, comparison to competitors
| Diamondback Energy Inc. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Feb 24, 2022 | 1.88 | 1.89 | 2.61 | 1.93 |
| Feb 25, 2021 | 1.24 | 1.50 | 2.22 | 1.53 |
| Feb 27, 2020 | 0.71 | 1.42 | 1.80 | 1.17 |
| Feb 25, 2019 | 1.26 | 1.47 | 2.47 | 1.75 |
| Feb 15, 2018 | 2.34 | 1.42 | 2.10 | 1.71 |
| Feb 15, 2017 | 2.73 | 1.44 | 1.70 | 2.01 |
| Feb 19, 2016 | 2.74 | 1.05 | 1.02 | 1.98 |
| Feb 20, 2015 | 2.53 | 1.32 | 1.59 | 2.16 |
| Feb 19, 2014 | 3.40 | 1.44 | 1.57 | 2.38 |
| Mar 1, 2013 | 1.79 | 1.65 | 1.49 | 2.42 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Diamondback Energy Inc., P/BV, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Diamondback Energy Inc. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Feb 24, 2022 | 1.88 | 2.00 |
| Feb 25, 2021 | 1.24 | 1.58 |
| Feb 27, 2020 | 0.71 | 1.33 |
| Feb 25, 2019 | 1.26 | 1.70 |
| Feb 15, 2018 | 2.34 | 1.62 |
| Feb 15, 2017 | 2.73 | 1.74 |
| Feb 19, 2016 | 2.74 | 1.49 |
| Feb 20, 2015 | 2.53 | 1.74 |
| Feb 19, 2014 | 3.40 | 1.89 |
| Mar 1, 2013 | 1.79 | 1.99 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Comparison to Industry (Energy)
Diamondback Energy Inc., P/BV, long-term trends, comparison to industry (energy)
| Diamondback Energy Inc. | Energy | |
|---|---|---|
| Feb 24, 2022 | 1.88 | 2.07 |
| Feb 25, 2021 | 1.24 | 1.61 |
| Feb 27, 2020 | 0.71 | 1.38 |
| Feb 25, 2019 | 1.26 | 1.69 |
| Feb 15, 2018 | 2.34 | 1.74 |
| Feb 15, 2017 | 2.73 | 1.86 |
| Feb 19, 2016 | 2.74 | 1.56 |
| Feb 20, 2015 | 2.53 | 1.83 |
| Feb 19, 2014 | 3.40 | 1.99 |
| Mar 1, 2013 | 1.79 | 2.08 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).