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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- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Price to Operating Profit (P/OP) since 2012
- Price to Book Value (P/BV) since 2012
- Aggregate Accruals
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Historical Valuation Ratios (Summary)
Diamondback Energy Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Price to Earnings (P/E) Ratio
- The P/E ratio demonstrates notable volatility across the periods evaluated. Initially, it ranged from approximately 18.0 to 25.6 during 2018 and early 2019, indicating moderate market valuation relative to earnings. A significant increase occurred at the end of 2019, peaking near 39.2, followed by a lack of available data for 2020. When data resumes in 2021, the ratio reaches a high of 46.3 before declining substantially through 2022 to values between 5.5 and 6.6. This downward trend in 2022 suggests either earnings growth outpacing price appreciation or a market reassessment of earnings expectations.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio follows a somewhat similar pattern to the P/E ratio. It started in a mid- to high-teens range, decreasing in late 2019 to below 10, indicative of improving operating profitability relative to price. Data gaps are also present for 2020, after which the ratio declined further, reaching lows near 3.4 by late 2021 and early 2022. These levels imply more favorable valuation in terms of operating profit, signaling either stronger operating results or more conservative market valuation.
- Price to Sales (P/S) Ratio
- The P/S ratio trends downward sharply from early 2018 into 2020, dropping from above 9.0 to lows around 1.3 in late 2020, reflecting either declining market value relative to sales or increased sales figures. Subsequently, it exhibits moderate recovery in 2021, rising back towards a range of 3.3 to 5.0, before stabilizing slightly above 2.0 during 2022. This oscillation indicates fluctuations in sales performance or market sentiment impacting the valuation compared to revenue.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio demonstrates a declining trend from 2018's peak levels above 2.3 down to lows below 0.5 in late 2020, suggesting that the market price fell beneath the book value, possibly signaling undervaluation or financial stresses. From early 2021 onward, the ratio recovered steadily, climbing past 2.0 by late 2022, indicative of increasing investor confidence or improved equity valuation relative to book value.
- Overall Insights
- Across all ratios, there is a clear pattern of decline in valuation multiples from 2018 through 2020, coinciding with periods of market uncertainty or operational challenges. The absence of data in some intervals suggests possible reporting gaps or data unavailability during volatile periods. From 2021 onwards, recovery and stabilization trends emerge, especially in P/BV and P/S ratios, indicating improving market perceptions. The sharp contraction in P/E and P/OP ratios during 2022 points to either robust earnings and operating profit growth or a re-rating of the security at lower valuation multiples. These movements collectively reflect dynamic investor sentiment and underlying financial performance changes across the timeframe.
Price to Earnings (P/E)
Diamondback Energy Inc., historical P/E calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Net income (loss) attributable to Diamondback Energy, Inc. (in millions) | |||||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
EPS
= (Net income (loss) attributable to Diamondback Energy, Inc.Q3 2022
+ Net income (loss) attributable to Diamondback Energy, Inc.Q2 2022
+ Net income (loss) attributable to Diamondback Energy, Inc.Q1 2022
+ Net income (loss) attributable to Diamondback Energy, Inc.Q4 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Diamondback Energy Inc. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The financial data exhibits distinct trends and fluctuations across the reported periods. The share price demonstrates an overall cyclical pattern with notable declines and recoveries. Initially, the share price decreased steadily from $129.79 in March 2018 to a low of $26.20 in September 2020. Following this trough, a substantial recovery occurred, reaching $163.55 by September 2022, which represents the highest value within the observed timeframe.
Earnings per share (EPS) show significant volatility throughout the periods. Early on, EPS increased from $5.16 in March 2018 to a peak of $6.45 in September 2018, then experienced a sharp decline to negative values beginning in the first quarter of 2020. The nadir was reached in December 2020, with EPS at -$28.59, indicating substantial losses during this period. From early 2021 onwards, EPS displayed a strong recovery trend, improving consistently to $24.89 by September 2022. This recovery aligns with the observed rebound in the share price.
The price-to-earnings (P/E) ratio fluctuated notably in response to the changes in share price and EPS. Throughout 2018 and 2019, the P/E ratio varied between approximately 12 and 39, reflecting changes in earnings relative to share price. Notably, P/E data is missing during the quarters coinciding with negative EPS values in 2020, which is consistent with the typical exclusion of P/E ratios when earnings are negative. Upon EPS normalization and positive earnings resumption in 2021 and beyond, the P/E ratio resumed reporting, exhibiting relatively lower values ranging from 5.47 to 46.32, indicative of improving earnings performance in relation to share price.
In summary, the data reveals a period of material financial distress starting in early 2020, characterized by negative earnings and a marked decline in share price. Subsequent periods demonstrate a robust recovery in both earnings and market valuation, suggesting improved operational and financial performance. The reestablishment of positive earnings and the rebound in share price have contributed to more stable and lower P/E ratios in the latest quarters, reflecting enhanced investor confidence and firm profitability.
Price to Operating Profit (P/OP)
Diamondback Energy Inc., historical P/OP calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Income (loss) from operations (in millions) | |||||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
Operating profit per share
= (Income (loss) from operationsQ3 2022
+ Income (loss) from operationsQ2 2022
+ Income (loss) from operationsQ1 2022
+ Income (loss) from operationsQ4 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Diamondback Energy Inc. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- The share price demonstrated a peak early in the period around the first quarter of 2018, reaching over $130. Subsequently, there was a clear downward trajectory throughout 2018 and 2019, with the share price declining sharply to below $60 by the end of 2019. This downtrend continued, reaching a low point in the third quarter of 2020 at approximately $26. However, from that low, a significant recovery occurred starting in the fourth quarter of 2020, with the share price steadily increasing and surpassing $160 by the third quarter of 2022, marking a strong rebound and growth in value over this period.
- Operating Profit Per Share (OPPS) Dynamics
- Operating profit per share exhibited fluctuations throughout the interval. Initially, OPPS was relatively strong during 2018, generally ranging between $6 and $10. In 2019, it showed some variability but remained positive until the end of the year when it fell to a low of roughly $4. The most pronounced decline occurred in 2020, where OPPS turned negative and reached its lowest levels of around -$34.65 by the fourth quarter. Beginning in early 2021, the operating profit per share showed a marked improvement, transitioning from negative figures to positive increments, eventually rising significantly to exceed $35 by the third quarter of 2022.
- P/OP Ratio Analysis
- Price to Operating Profit (P/OP) ratio exhibited corresponding fluctuations aligned with the share price and OPPS movements. In the early periods, the ratio ranged from approximately 17 down to around 9, reflecting declining share prices relative to steady or slight variations in operating profit. The data for 2020 is not fully available. From 2021 onward, the P/OP ratio declined notably, reaching values as low as about 3.44, indicating that the share price became more favorably valued compared to operating profits, likely due to the material increase in OPPS alongside rising share prices.
- Overall Insights
- The period under review highlights a significant volatility phase, with marked decline in both share price and operating profitability culminating in 2020. The subsequent recovery phase since late 2020 is characterized by a strong rebound in operating profits and share price, reflecting improved operational performance and investor confidence. The P/OP ratio trends suggest enhanced market valuation efficiency in recent periods, possibly signaling stabilization and growth prospects recognized by the market.
Price to Sales (P/S)
Diamondback Energy Inc., historical P/S calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Revenue from contracts with customers (in millions) | |||||||||||||||||||||||||
| Sales per share2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/S ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
Sales per share
= (Revenue from contracts with customersQ3 2022
+ Revenue from contracts with customersQ2 2022
+ Revenue from contracts with customersQ1 2022
+ Revenue from contracts with customersQ4 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Diamondback Energy Inc. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price initially experienced a decline from $129.79 at the end of March 2018 to a low of $26.20 in September 2020. This was followed by a recovery period, with the price increasing steadily to $163.55 by September 2022. The lowest point occurred during the middle of 2020, after which there was a significant rebound through 2021 and into 2022, surpassing the levels observed in early 2018.
- Sales Per Share Trend
- Sales per share generally demonstrated a positive trajectory over the observed period. Starting at $14.41 in March 2018, sales per share increased with some fluctuations, reaching $54.37 by September 2022. This indicates growing sales efficiency or increased revenue generation on a per-share basis. The upward trend was somewhat steadier compared to the share price movement, showing resilience even during periods when the share price was declining.
- Price to Sales (P/S) Ratio Analysis
- The P/S ratio showed a downward trend from 9.01 in March 2018 to a low of 1.34 in September 2020, indicating that the share price declined faster than sales per share during this period. Following this dip, the P/S ratio rebounded to levels between 3.0 and 5.0 from 2021 onwards, suggesting an improved market valuation relative to sales. Despite fluctuations, the P/S ratio never returned to the elevated levels seen in early 2018.
- Overall Insights
- The financial data reflect a period of significant volatility for the company’s market valuation, especially from 2018 to 2020, with share prices falling substantially while sales per share increased steadily. After the pronounced trough in 2020, the company experienced a robust recovery in share price and valuation multiples through 2021 and 2022. The persistence of sales growth alongside share price volatility suggests underlying operational strength, while changes in the P/S ratio highlight shifts in market sentiment and investor valuation of the company during the examined period.
Price to Book Value (P/BV)
Diamondback Energy Inc., historical P/BV calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Total Diamondback Energy, Inc. stockholders’ equity (in millions) | |||||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
BVPS = Total Diamondback Energy, Inc. stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Diamondback Energy Inc. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The financial data reveals several notable trends in the share price, book value per share, and price-to-book value ratio over the observed periods.
- Share Price
- The share price exhibited a downward trend from early 2018 through the third quarter of 2020, falling from a high of approximately $130 to a low near $26. This decline appears to have bottomed out in the third quarter of 2020, after which there was a pronounced recovery. The share price rose steadily throughout 2021 and into 2022, reaching values exceeding $160 by the third quarter of 2022. This indicates a strong resurgence in market valuation after a period of significant decline.
- Book Value Per Share (BVPS)
- The book value per share showed relative stability compared to the share price but also experienced some fluctuations. Starting at around $55 at the beginning of 2018, BVPS increased notably towards the end of 2018, peaking above $83. Subsequently, it decreased gradually through 2019 and into 2020, reaching a low slightly above $55 by the end of 2020. From 2021 onward, BVPS resumed an upward trajectory, climbing to nearly $79 by the third quarter of 2022. This trend suggests moderate growth in the company's net asset value per share after a period of decline.
- Price-to-Book Value Ratio (P/BV)
- The price-to-book value ratio mirrored the share price movements, reflecting investor sentiment relative to the company's book value. In the early part of the timeframe, P/BV ratios declined from approximately 2.36 down to a trough of 0.43 in the third quarter of 2020, indicating the share price dropped below book value by a significant margin. Following this period, the ratio increased considerably, rising above 2.0 by the third quarter of 2022. This recovery in P/BV ratio indicates that market valuations not only rebounded but surpassed the book value, possibly reflecting increased investor confidence and expectations of future growth.
Overall, the data suggests a challenging period for the company between 2018 and 2020, characterized by declining market valuation and moderate erosion of book value per share. The subsequent periods through 2021 and 2022 illustrate a strong recovery phase, with improvements in share price, book value, and valuation multiples, highlighting renewed market optimism and financial strengthening.