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)
O’Reilly Automotive 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
The financial ratios of the company exhibit distinct trends over the observed periods. The Price to Earnings (P/E) ratio shows some volatility but remains generally within the range of approximately 17.9 to 24.4 from 2017 to 2022. The ratio demonstrates peaks around late 2019 and again toward the end of 2022, with some dips notably in early 2021. This suggests fluctuating investor expectations of earnings growth and market valuation over time.
The Price to Operating Profit (P/OP) ratio follows a pattern somewhat similar to the P/E ratio. It generally moves between about 11.8 and 17.7. The ratio peaks near the end of 2019 and late 2022, signaling changes in operating profit margins or shifts in valuation multiples reflective of operating performance expectations. There is a visible dip in mid-2020 and again somewhat in early 2022, possibly indicating temporary compression of operating profit or valuation adjustments.
The Price to Sales (P/S) ratio displays an overall increasing trend, though with fluctuations. Starting around 2.28 in early 2018, it rises to a high near 3.7 by the end of 2022. The upward trajectory suggests increasing investor valuation relative to sales, implying confidence in revenue growth prospects or pricing power. The dips mid-2020 and early 2022 reflect intermittent valuation recalibrations but the long-term trend remains positive.
The Price to Book Value (P/BV) ratio presents more irregular and notably extreme variations. Early values in 2017 and early 2018 are comparatively moderate, but the ratio spikes dramatically in late 2018, 2019, and 2020, reaching values exceeding 200 at multiple points. These extraordinary peaks might reflect significant changes in book value, such as asset revaluation, share buybacks, or extraordinary earnings events affecting equity. The missing data in some later periods limit full interpretation, but the volatility and high values suggest significant fluctuations in the company's equity valuation relative to its book value.
- Price to Earnings (P/E) Ratio
- Shows moderate volatility with peaks around late 2019 and late 2022; maintains a level generally between 17.9 and 24.4.
- Price to Operating Profit (P/OP) Ratio
- Follows a similar pattern to P/E with peaks near late 2019 and late 2022; ranges approximately 11.8 to 17.7, with dips in mid-2020 and early 2022.
- Price to Sales (P/S) Ratio
- Displays an upward trend from 2.28 in early 2018 to about 3.7 by late 2022, reflecting increasing sales valuation despite some periodic declines.
- Price to Book Value (P/BV) Ratio
- Exhibits extreme volatility and very high peaks exceeding 200 in several quarters during 2019 and 2020; irregular pattern likely tied to significant book value changes or accounting impacts; incomplete data in later periods restricts full assessment.
Price to Earnings (P/E)
O’Reilly Automotive 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Net income (in thousands) | ||||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| Amazon.com Inc. | ||||||||||||||||||||||||||||||
| Home Depot Inc. | ||||||||||||||||||||||||||||||
| Lowe’s Cos. Inc. | ||||||||||||||||||||||||||||||
| TJX Cos. Inc. | ||||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
EPS
= (Net incomeQ3 2022
+ Net incomeQ2 2022
+ Net incomeQ1 2022
+ Net incomeQ4 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of O’Reilly Automotive 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 reveals a general upward trend in the share price of the company from March 2017 to September 2022, with fluctuations occurring throughout the periods. The share price started at $253.82 in March 2017 and showed a significant increase, reaching $833.51 by September 2022. Notable increments were observed particularly after the first quarter of 2020, continuing into 2021 and 2022, with some short-term declines such as in December 2019 and March 2022. Despite volatility, the long-term growth pattern is evident.
Earnings per share (EPS) data is available starting in March 2018 and reveals a steady increase over the examined quarters. Beginning at $13.55 in March 2018, EPS rose consistently to $34.57 by September 2022. This steady growth in EPS indicates improving profitability over time. The progression lacks any major reversals or sharp drops, suggesting stable operational performance and earnings growth throughout the periods.
The price-to-earnings (P/E) ratio exhibits moderate fluctuations over the same timeframe, oscillating between approximately 17.9 and 24.4. Initially, the ratio hovered around 18 to 21, risen to about 24.41 in December 2019, then decreased to a lower bound near 17.92 in December 2020, before oscillating upwards again. This movement reflects changing market valuations relative to earnings, possibly influenced by investor sentiment, market conditions, or growth expectations. Generally, the P/E ratio remains within a range suggesting neither excessive overvaluation nor undervaluation throughout the period.
In summary, the company demonstrates a strong upward trajectory in both share price and earnings per share, indicative of sustained operational and financial growth. The P/E ratio's variability suggests ongoing reassessment of the company's earnings value by the market but remains within reasonable limits, supporting the interpretation of consistent performance and positive investor outlook over the analyzed quarters.
Price to Operating Profit (P/OP)
O’Reilly Automotive Inc., historical P/OP calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Operating income (in thousands) | ||||||||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| Amazon.com Inc. | ||||||||||||||||||||||||||||||
| Home Depot Inc. | ||||||||||||||||||||||||||||||
| Lowe’s Cos. Inc. | ||||||||||||||||||||||||||||||
| TJX Cos. Inc. | ||||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
Operating profit per share
= (Operating incomeQ3 2022
+ Operating incomeQ2 2022
+ Operating incomeQ1 2022
+ Operating incomeQ4 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of O’Reilly Automotive 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.
The share price exhibited a generally increasing trend over the observed periods, moving from $253.82 at the end of the first quarter in 2017 to $833.51 by the end of the third quarter in 2022. Notable fluctuations include a dip around the end of 2019 and early 2020, followed by a strong recovery and continued upward trajectory into 2022, reaching peak values above $800 in the last recorded quarter.
Operating profit per share, available from the first quarter of 2018 onward, demonstrated steady growth throughout the period. Starting at $20.62 and reaching $47.11 by the third quarter of 2022, this metric shows consistent improvement in profitability on a per-share basis, with no significant reversals.
The price-to-operating-profit ratio (P/OP) displayed moderate variability. Initially around 11.84 in early 2018, it climbed to a peak of 17.69 by the third quarter of 2022. This suggests an increasing investor valuation relative to operating profit per share over time. However, the ratio fluctuated within a range of approximately 12.98 to 17.69, showing periods of both valuation contraction and expansion. Particularly, the ratio showed a dip in the early months of 2020, coinciding with a temporary share price decrease, before rebounding strongly.
Overall, the data reflects positively on the company’s financial health, with consistent growth in operating profit per share and a rising share price indicative of market confidence. The P/OP ratio trend points to increasing market expectations for the company's future earnings potential, albeit with some volatility likely influenced by broader market conditions and specific company developments.
Price to Sales (P/S)
O’Reilly Automotive Inc., historical P/S calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Sales (in thousands) | ||||||||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| Amazon.com Inc. | ||||||||||||||||||||||||||||||
| Home Depot Inc. | ||||||||||||||||||||||||||||||
| Lowe’s Cos. Inc. | ||||||||||||||||||||||||||||||
| TJX Cos. Inc. | ||||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
Sales per share
= (SalesQ3 2022
+ SalesQ2 2022
+ SalesQ1 2022
+ SalesQ4 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of O’Reilly Automotive Inc. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in the company's share price, sales per share, and price-to-sales (P/S) ratio over the examined periods.
- Share Price
- The share price exhibited volatility but maintained an overall upward trajectory from March 31, 2017, to September 30, 2022. Starting at $253.82 in early 2017, the price experienced fluctuations, including a decline during late 2019 and early 2020, likely reflecting market uncertainties. Subsequently, the price rebounded robustly, peaking at $833.51 by the end of the available data set. This represents a significant appreciation in market valuation over the observed timeframe.
- Sales per Share
- Sales per share data began from March 31, 2018, revealing a consistent and steady increase across all quarters. The values rose from $107.30 to $224.64 by September 30, 2022, indicating continuous growth in revenue generation on a per-share basis. This trend suggests effective sales performance and expansion in the company's operational output or market reach.
- Price-to-Sales (P/S) Ratio
- The P/S ratio showed variability through the quarters, reflecting changes in market valuation relative to sales. Initially, the ratio increased from 2.28 in March 2018 to a peak above 3.3 in later periods, indicating investor confidence and willingness to pay a premium over sales. However, noted dips below 3.0 in various quarters suggest intermittent market corrections or shifts in perceived value. The ratio ultimately reached 3.71 by September 2022, signaling heightened valuation relative to sales, possibly driven by growth expectations or improved profitability margins.
Overall, the data points to a company experiencing strong sales growth accompanied by an increasing share price, albeit with periods of market fluctuations impacting valuation multiples. The rising P/S ratio in recent quarters is indicative of increased investor optimism or improved financial outlook, but the historical variability also underscores the sensitivity of market perception over time.
Price to Book Value (P/BV)
O’Reilly Automotive Inc., historical P/BV calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Shareholders’ equity (deficit) (in thousands) | ||||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| Amazon.com Inc. | ||||||||||||||||||||||||||||||
| Home Depot Inc. | ||||||||||||||||||||||||||||||
| Lowe’s Cos. Inc. | ||||||||||||||||||||||||||||||
| TJX Cos. Inc. | ||||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
BVPS = Shareholders’ equity (deficit) ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of O’Reilly Automotive Inc. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals fluctuating trends in share price, book value per share (BVPS), and the price-to-book value (P/BV) ratio over the reported periods.
- Share Price
- The share price shows an overall upward trend from March 31, 2017, to September 30, 2022. Initially, the price increased gradually from $253.82 to a peak around $440.83 by September 2019. Despite a decline during late 2019, the share price rebounded significantly, reaching highs exceeding $800 by the third quarter of 2022. This indicates sustained investor confidence and possibly strong operational or market performance in recent years.
- Book Value Per Share (BVPS)
- In contrast to the share price, the book value per share exhibited a declining pattern throughout the period. Starting at $15.63 in March 2017, BVPS declined significantly, fluctuating near zero and even reaching negative values by late 2020 and continuing into 2022 with a low of approximately -$19.26. This persistent decline and negative valuation point to deteriorating net asset value or accumulated losses impacting equity value.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio shows extreme volatility, often reaching very high values, particularly when BVPS approached very low or negative levels. The ratio peaked at values above 200 and even exceeded 270 in certain quarters, demonstrating a disconnect between market valuation and book value. The exceptionally high P/BV ratios suggest that the market values the company based on factors beyond its book value, such as future earnings potential or intangible assets, despite declining book equity.
Overall, the data reflects a company with increasing market valuation through rising share prices, while the book value per share deteriorated markedly. The resulting extreme and irregular P/BV ratios underscore the divergence between market perception and accounting-based equity measures, likely impacted by the company’s financial structure, asset composition, or profitability trends.