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).
Historical Valuation Ratios (Summary)
Expand Energy Corp., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
- Price to Earnings (P/E) Ratio
- The price to earnings ratio exhibits a general decreasing trend from June 2022 to March 2023, falling from 6.98 to 1.53, indicating improving earnings relative to stock price during that period. Following this low point, the ratio begins to rise steadily, reaching a peak of 77.98 by September 2024, which suggests either a significant increase in the stock price relative to earnings or a decline in earnings. The subsequent data points are missing, making it unclear if this trend continues or reverses.
- Price to Operating Profit (P/OP) Ratio
- This ratio mirrors the pattern observed in the P/E ratio, starting at 6.69 in June 2022 and falling to a low of 1.68 by March 2023. Afterward, it climbs notably to 64.1 by September 2024. The fall and rise indicate fluctuations in market valuation relative to operating profit, with a steep increase in valuation compared to operating profit toward late 2024.
- Price to Sales (P/S) Ratio
- The price to sales ratio shows relative stability initially, with a slight decrease from 1.38 in March 2022 to 0.76 in December 2022. From March 2023 onward, there is a consistent upward trend, increasing from 0.8 to a peak of 6.02 in September 2024, followed by a mild decrease to 3.89 by March 2025. This trend indicates growing investor valuation of sales over the period, particularly notable during 2023 and 2024.
- Price to Book Value (P/BV) Ratio
- The price to book value ratio fluctuates moderately throughout the period. Starting at 2.2 in March 2022, it declines sharply to 1.04 by March 2023, maintaining values close to or below 1.1 until early 2024. There is a brief peak at 1.94 in September 2024, followed by a decline to 1.49 by March 2025. These movements suggest varying market sentiment relative to the company’s book value, with generally low valuation multiples from mid-2023 to early 2024 before a temporary rebound.
- Summary of Trends
- Overall, the valuation multiples suggest an initial period of improving earnings and operating profit valuations until early 2023, followed by a significant increase in price multiples across earnings, operating profit, and sales through late 2024. The price to sales ratio demonstrates the most consistent upward movement, indicating rising investor expectations relative to revenue. The price to book value ratio remains comparatively stable with some volatility, showing less dramatic shifts in investor valuation relative to net asset value. The sharp increases in P/E and P/OP ratios toward late 2024 could indicate a divergence between market pricing and fundamental earnings or profitability performance.
Price to Earnings (P/E)
Expand Energy Corp., historical P/E calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 237,979,439 | 232,699,939 | 231,034,791 | 131,275,152 | 131,048,463 | 130,794,770 | 131,072,227 | 132,356,423 | 133,869,079 | 134,719,821 | 133,971,136 | 120,848,720 | 127,262,019 | |||||
| Selected Financial Data (US$) | ||||||||||||||||||
| Net income (loss) available to common stockholders (in millions) | (249) | (399) | (114) | (227) | 26) | 569) | 70) | 391) | 1,389) | 3,513) | 883) | 1,237) | (764) | |||||
| Earnings per share (EPS)2 | -4.16 | -3.07 | 1.10 | 3.34 | 8.06 | 18.49 | 40.92 | 46.66 | 52.45 | 36.14 | 20.83 | 12.93 | -0.90 | |||||
| Share price1, 3 | 107.47 | 102.43 | 85.73 | 76.57 | 89.88 | 83.85 | 86.08 | 84.45 | 80.11 | 79.70 | 102.67 | 90.25 | 93.15 | |||||
| Valuation Ratio | ||||||||||||||||||
| P/E ratio4 | — | — | 77.98 | 22.95 | 11.15 | 4.53 | 2.10 | 1.81 | 1.53 | 2.21 | 4.93 | 6.98 | — | |||||
| Benchmarks | ||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||
| Chevron Corp. | 15.28 | 15.64 | 16.89 | 13.91 | 14.63 | 13.42 | 11.03 | 9.88 | 8.27 | 8.71 | 10.25 | 10.19 | 16.06 | |||||
| ConocoPhillips | 11.75 | 13.41 | 12.68 | 11.78 | 13.50 | 11.92 | 12.94 | 10.65 | 7.44 | 7.07 | 9.23 | 7.19 | 10.35 | |||||
| Exxon Mobil Corp. | 13.42 | 14.21 | 15.47 | 14.93 | 14.38 | 11.49 | 11.00 | 8.76 | 7.58 | 8.47 | 8.70 | 9.74 | 14.98 | |||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
EPS
= (Net income (loss) available to common stockholdersQ1 2025
+ Net income (loss) available to common stockholdersQ4 2024
+ Net income (loss) available to common stockholdersQ3 2024
+ Net income (loss) available to common stockholdersQ2 2024)
÷ No. shares of common stock outstanding
= (-249,000,000 + -399,000,000 + -114,000,000 + -227,000,000)
÷ 237,979,439 = -4.16
3 Closing price as at the filing date of Expand Energy Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/E ratio = Share price ÷ EPS
= 107.47 ÷ -4.16 = —
5 Click competitor name to see calculations.
- Share Price Trend
- The share price displayed considerable volatility over the analyzed periods. It began at $93.15, declined to a low of $79.7 by year-end 2022, followed by a general recovery trend through most of 2023, peaking at $89.88 in the first quarter of 2024. Subsequently, the price experienced significant fluctuations with a dip to $76.57 in mid-2024, before rebounding to reach a high of $107.47 by the first quarter of 2025.
- Earnings Per Share (EPS) Evolution
- EPS exhibited a pronounced upward trend starting from a negative value of -$0.9, sharply rising to a peak of $52.45 in the first quarter of 2023. After this peak, EPS progressively declined through 2023 and 2024, turning negative again toward the end of the period, reaching -$4.16 by the first quarter of 2025. This trend indicates a significant fluctuation in profitability, with a notable peak followed by a steady diminution into losses.
- Price-to-Earnings (P/E) Ratio Dynamics
- The P/E ratio started at a relatively low level corresponding with positive earnings, reaching its minimum at 1.53 in early 2023, reflecting high earnings relative to share price. As EPS decreased in subsequent periods, the P/E ratio increased substantially, rising to 77.98 by the third quarter of 2024, indicative of diminishing earnings driving the ratio higher despite share price fluctuations. The ratio data are missing for the last period, but the trend suggests increasing valuation multiples during periods of declining profitability.
- Integrated Insights
- Overall, the data reveals a period of strong EPS growth until early 2023, paired with a volatile but generally recovering share price. Following this peak in earnings, a persistent decline in EPS is observed alongside rising P/E ratios, signaling market expectations diverging from deteriorating actual earnings. The share price shows resilience by recovering from lows but does not consistently align with falling earnings, suggesting potential market optimism or other external factors influencing stock valuation beyond fundamental earnings performance.
Price to Operating Profit (P/OP)
Expand Energy Corp., historical P/OP calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 237,979,439 | 232,699,939 | 231,034,791 | 131,275,152 | 131,048,463 | 130,794,770 | 131,072,227 | 132,356,423 | 133,869,079 | 134,719,821 | 133,971,136 | 120,848,720 | 127,262,019 | |||||
| Selected Financial Data (US$) | ||||||||||||||||||
| Income (loss) from operations (in millions) | (268) | (386) | (155) | (294) | 32) | 726) | 79) | 517) | 1,820) | 2,228) | 1,005) | 1,341) | (794) | |||||
| Operating profit per share2 | -4.63 | -3.45 | 1.34 | 4.14 | 10.33 | 24.02 | 35.43 | 42.08 | 47.76 | 28.06 | 22.19 | 13.49 | -1.11 | |||||
| Share price1, 3 | 107.47 | 102.43 | 85.73 | 76.57 | 89.88 | 83.85 | 86.08 | 84.45 | 80.11 | 79.70 | 102.67 | 90.25 | 93.15 | |||||
| Valuation Ratio | ||||||||||||||||||
| P/OP ratio4 | — | — | 64.10 | 18.51 | 8.70 | 3.49 | 2.43 | 2.01 | 1.68 | 2.84 | 4.63 | 6.69 | — | |||||
| Benchmarks | ||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||
| Chevron Corp. | 9.20 | 9.76 | 10.99 | 9.34 | 10.35 | 9.48 | 7.68 | 6.97 | 5.81 | 6.12 | 7.34 | 7.23 | 11.13 | |||||
| ConocoPhillips | 7.33 | 8.50 | 7.96 | 7.49 | 8.70 | 7.61 | 8.04 | 6.49 | 4.60 | 4.57 | 5.96 | 4.72 | 6.75 | |||||
| Exxon Mobil Corp. | 9.03 | 9.57 | 10.23 | 9.86 | 9.47 | 7.62 | 7.06 | 6.00 | 5.28 | 5.88 | 6.28 | 6.76 | 10.28 | |||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Operating profit per share
= (Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024
+ Income (loss) from operationsQ2 2024)
÷ No. shares of common stock outstanding
= (-268,000,000 + -386,000,000 + -155,000,000 + -294,000,000)
÷ 237,979,439 = -4.63
3 Closing price as at the filing date of Expand Energy Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 107.47 ÷ -4.63 = —
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated significant fluctuations over the analyzed period. Initially, it decreased from $93.15 to around $79.7 between March 2022 and December 2022, followed by a moderate rebound through the first quarter of 2023. Subsequently, the price experienced volatility with declines and recoveries, including a notable dip to $76.57 in June 2024 before climbing sharply to a peak of $107.47 in March 2025. This pattern suggests market uncertainty paired with intermittent optimism toward the end of the period.
- Operating Profit Per Share
- Operating profit per share exhibited a generally downward trajectory after a peak in early 2023. Starting from negative territory at -$1.11 in March 2022, it rose sharply to $47.76 by March 2023, indicating strong operational performance improvement. However, from this peak, operating profit per share steadily declined, crossing into negative values again by December 2024 and continuing to decrease further to -$4.63 by March 2025. This trend signals deteriorating profitability in the latter periods despite earlier gains.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio experienced substantial variability throughout the period. Data is missing initially but became available from June 2022, showing a low ratio of 1.68 in March 2023, coinciding with the peak operating profit, which typically indicates good valuation relative to earnings. After March 2023, the ratio increased dramatically, reaching very high levels, including 64.1 in September 2024, reflecting a sharp decline in operating profit and/or rising share price. The ratio is absent in the last recorded periods, likely due to negative operating profit values, which invalidate this metric. The rising trend in P/OP suggests worsening earnings performance relative to share price.
- Summary Insights
- The overall financial trends indicate that while the company experienced substantial operational profit growth in early 2023, this was followed by a notable decline in profitability towards the end of the period. The share price showed volatility but ultimately increased to a new high by March 2025, which may suggest market expectations of future improvement or other non-operational factors influencing valuation. The deteriorating operating profit and the accompanying steep increase in the P/OP ratio highlight a disconnect between market price and operational earnings, a potential concern for financial sustainability. This combination warrants close monitoring and further investigation into the underlying causes of declining operational profits despite elevated share prices.
Price to Sales (P/S)
Expand Energy Corp., historical P/S calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 237,979,439 | 232,699,939 | 231,034,791 | 131,275,152 | 131,048,463 | 130,794,770 | 131,072,227 | 132,356,423 | 133,869,079 | 134,719,821 | 133,971,136 | 120,848,720 | 127,262,019 | |||||
| Selected Financial Data (US$) | ||||||||||||||||||
| Revenues (in millions) | 3,210) | 2,244) | 600) | 514) | 901) | 1,276) | 1,406) | 1,260) | 2,105) | 3,136) | 4,193) | 4,013) | 2,781) | |||||
| Sales per share2 | 27.60 | 18.30 | 14.24 | 31.21 | 36.96 | 46.23 | 60.33 | 80.80 | 100.45 | 104.83 | 101.46 | 92.65 | 67.69 | |||||
| Share price1, 3 | 107.47 | 102.43 | 85.73 | 76.57 | 89.88 | 83.85 | 86.08 | 84.45 | 80.11 | 79.70 | 102.67 | 90.25 | 93.15 | |||||
| Valuation Ratio | ||||||||||||||||||
| P/S ratio4 | 3.89 | 5.60 | 6.02 | 2.45 | 2.43 | 1.81 | 1.43 | 1.05 | 0.80 | 0.76 | 1.01 | 0.97 | 1.38 | |||||
| Benchmarks | ||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||
| Chevron Corp. | 1.24 | 1.43 | 1.45 | 1.32 | 1.53 | 1.46 | 1.39 | 1.39 | 1.27 | 1.31 | 1.54 | 1.44 | 1.86 | |||||
| ConocoPhillips | 1.95 | 2.26 | 2.28 | 2.23 | 2.59 | 2.33 | 2.42 | 2.06 | 1.56 | 1.68 | 2.22 | 1.75 | 2.47 | |||||
| Exxon Mobil Corp. | 1.31 | 1.41 | 1.53 | 1.50 | 1.42 | 1.24 | 1.21 | 1.17 | 1.13 | 1.12 | 1.17 | 1.08 | 1.26 | |||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Sales per share
= (RevenuesQ1 2025
+ RevenuesQ4 2024
+ RevenuesQ3 2024
+ RevenuesQ2 2024)
÷ No. shares of common stock outstanding
= (3,210,000,000 + 2,244,000,000 + 600,000,000 + 514,000,000)
÷ 237,979,439 = 27.60
3 Closing price as at the filing date of Expand Energy Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 107.47 ÷ 27.60 = 3.89
5 Click competitor name to see calculations.
The financial data reveals distinct trends in share price, sales per share, and the price-to-sales (P/S) ratio over the observed periods.
- Share Price
- The share price exhibits significant volatility. Initially, there is a decline from US$93.15 at the end of March 2022 to a low of US$79.7 by December 2022. This is followed by moderate fluctuations in 2023, with a gradual recovery toward US$83.85 by December 2023. Notably, the share price dips again to US$76.57 in mid-2024 before experiencing a strong upward trend reaching US$107.47 by March 2025. The overall trajectory shows a degree of resilience, with the latest value surpassing previous highs.
- Sales per Share
- Sales per share demonstrate a clear and consistent downward trend throughout the period. Starting at US$67.69 in March 2022, sales per share increase slightly and peak at US$104.83 by December 2022. After this peak, there is a steady and pronounced decline, reaching the lowest value of US$14.24 in September 2024. A slight recovery is observed in the last two quarters, with sales per share rising to US$27.6 by March 2025. The sharp decrease in sales per share after 2022 indicates possible challenges in revenue generation relative to the share count.
- Price-to-Sales (P/S) Ratio
- The P/S ratio fluctuates inversely with sales per share and demonstrates volatility as well. Initially, the ratio declines from 1.38 in March 2022 to a trough of 0.76 by December 2022, reflecting a period of rising sales per share coupled with falling share price. Subsequently, the P/S ratio increases steadily from 0.8 in March 2023 to a peak of 6.02 in September 2024. This surge is primarily driven by the rapid decline in sales per share, while the share price remains relatively stable or increases. Towards the end of the period, the ratio decreases slightly to 3.89, aligning with a modest sales recovery and continued share price strength.
In summary, while the share price shows a pattern of volatility with eventual growth, the sales per share have generally decreased markedly since late 2022. The P/S ratio reflects this dynamic, rising sharply when sales per share decline and share price stabilizes or improves. These trends suggest that market valuation has increasingly detached from sales performance, possibly implying elevated expectations or a shift in investor perception regarding future earnings potential or other value drivers beyond current sales figures.
Price to Book Value (P/BV)
Expand Energy Corp., historical P/BV calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 237,979,439 | 232,699,939 | 231,034,791 | 131,275,152 | 131,048,463 | 130,794,770 | 131,072,227 | 132,356,423 | 133,869,079 | 134,719,821 | 133,971,136 | 120,848,720 | 127,262,019 | |||||
| Selected Financial Data (US$) | ||||||||||||||||||
| Stockholders’ equity (in millions) | 17,191) | 17,565) | 10,188) | 10,370) | 10,682) | 10,729) | 10,268) | 10,396) | 10,283) | 9,124) | 6,347) | 5,808) | 5,383) | |||||
| Book value per share (BVPS)2 | 72.24 | 75.48 | 44.10 | 78.99 | 81.51 | 82.03 | 78.34 | 78.55 | 76.81 | 67.73 | 47.38 | 48.06 | 42.30 | |||||
| Share price1, 3 | 107.47 | 102.43 | 85.73 | 76.57 | 89.88 | 83.85 | 86.08 | 84.45 | 80.11 | 79.70 | 102.67 | 90.25 | 93.15 | |||||
| Valuation Ratio | ||||||||||||||||||
| P/BV ratio4 | 1.49 | 1.36 | 1.94 | 0.97 | 1.10 | 1.02 | 1.10 | 1.08 | 1.04 | 1.18 | 2.17 | 1.88 | 2.20 | |||||
| Benchmarks | ||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||
| Chevron Corp. | 1.60 | 1.81 | 1.80 | 1.64 | 1.85 | 1.78 | 1.70 | 1.88 | 1.86 | 1.94 | 2.21 | 1.93 | 2.25 | |||||
| ConocoPhillips | 1.72 | 1.91 | 2.53 | 2.53 | 2.90 | 2.65 | 3.03 | 2.90 | 2.47 | 2.75 | 3.40 | 2.28 | 2.70 | |||||
| Exxon Mobil Corp. | 1.69 | 1.81 | 1.94 | 1.90 | 2.30 | 2.02 | 2.10 | 2.14 | 2.24 | 2.29 | 2.43 | 2.14 | 2.28 | |||||
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 17,191,000,000 ÷ 237,979,439 = 72.24
3 Closing price as at the filing date of Expand Energy Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 107.47 ÷ 72.24 = 1.49
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited considerable volatility over the analyzed periods. Initially, it peaked at 102.67 US$ in September 2022, followed by a notable decline to 79.7 US$ by December 2022. Through 2023, the share price fluctuated moderately, maintaining a range roughly between 80.11 US$ and 86.08 US$. However, in 2024, the share price experienced a dip to 76.57 US$ in June before recovering significantly towards the end of the year, reaching 102.43 US$ in December 2024 and climbing further to 107.47 US$ by March 2025. This indicates a late period resurgence in market valuation.
- Book Value Per Share (BVPS) Pattern
- The book value per share showed an overall upward trend until around December 2023, increasing from 42.3 US$ in March 2022 to a peak of 82.03 US$ by the end of 2023. This growth reflects an improvement in the company's net asset base per share. However, there was a pronounced drop in September 2024, where BVPS fell sharply to 44.1 US$, suggesting a possible one-time event or adjustment. BVPS partially recovered to 75.48 US$ in December 2024 but then slightly declined again to 72.24 US$ in March 2025, indicating some instability or write-downs affecting equity per share in the latest periods.
- Price-to-Book Value (P/BV) Ratio Analysis
- The P/BV ratio demonstrated significant fluctuations aligned with changes in share price and BVPS. It declined sharply from 2.2 in March 2022 to a low of 1.02 by December 2023, reflecting a convergence of share price and book value and perhaps a market reassessment leading to more conservative valuation. In 2024, the ratio moved below 1.0 (0.97 in June 2024) indicating the share price fell below the book value per share, which could reflect market undervaluation or underlying uncertainties. Subsequently, the P/BV ratio rebounded sharply, peaking at 1.94 in September 2024 before stabilizing around 1.36-1.49 by early 2025, suggesting a partial restoration of market confidence or revaluation of assets and share price dynamics.
- Overall Insights
- The data reveals periods of volatility and recovery across share price, equity valuation, and market pricing multiples. The late 2024 correction in book value per share indicates potential non-recurring charges or asset revaluations impacting the balance sheet. The share price's recovery alongside fluctuating P/BV ratios towards early 2025 points to renewed investor confidence possibly driven by improved business prospects or market conditions. Continuous monitoring of these financial indicators is advised to assess stabilization and growth sustainability.