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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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2020
- Return on Assets (ROA) since 2020
- Price to Earnings (P/E) since 2020
- Aggregate Accruals
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Historical Valuation Ratios (Summary)
Palantir Technologies Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 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), 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).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio shows a lack of data until the third quarter of 2023, after which it displays high values with considerable fluctuations. Starting at 279.03 in September 2023, the ratio declines to 147.19 by December 2023. Subsequently, it increases sharply, reaching a peak of 632.38 in June 2025, before stabilizing somewhat but remaining elevated at 450.16 and 538.53 in the following quarters. This pattern suggests heightened market valuation relative to earnings, along with volatility in investor perceptions of profitability.
- Price to Operating Profit (P/OP) Ratio
- The Price to Operating Profit ratio is only available from the third quarter of 2023 onward. It initially stands at an extremely high value of 1130.92, indicating a significant premium on operating profit. This ratio then declines consistently to 203.93 in December 2023, followed by a renewed increase, peaking at 941.61 in June 2025. The subsequent quarters show elevated levels above 600. The data reflects a pronounced volatility in the relationship between the company’s market price and its operating profit, indicating fluctuating investor confidence in core operating earnings.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio is present across the entire period beginning at 15.58 in December 2021. The ratio declines to a low of 7.98 in December 2022, suggesting a relatively lower market valuation versus sales during that time. From 2023 onwards, the ratio trends generally upward with notable spikes, reaching as high as 119.47 in June 2025. The sharp increase in 2024 and 2025 periods indicates a significant escalation in market valuation relative to sales, possibly reflecting expectations of future sales growth or high investor enthusiasm. Considerable variability is evident throughout the timeframe.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio starts relatively high at 19.63 in March 2021 and increases slightly to 23.5 in June 2021, before trending downward to 6.12 by September 2022. This decrease suggests a decline in market pricing relative to the book value per share, reflecting possibly more conservative valuation approaches or increased asset base. From March 2023, the ratio rises sharply again, reaching 58.42 in June 2025 and further climbing to 69.33 by the end of the observed period. This substantial increase signals a revaluation of equity by the market, positioning the company’s market capitalization far above its accounting book value, consistent with elevated investor optimism or intangible asset appreciation.
Price to Earnings (P/E)
Palantir Technologies Inc., historical P/E calculation (quarterly data)
| Jun 30, 2025 | 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net income (loss) attributable to common stockholders (in thousands) | ||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| Accenture PLC | ||||||||||||||||||||||||
| Adobe Inc. | ||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | ||||||||||||||||||||||||
| Datadog Inc. | ||||||||||||||||||||||||
| Fair Isaac Corp. | ||||||||||||||||||||||||
| International Business Machines Corp. | ||||||||||||||||||||||||
| Intuit Inc. | ||||||||||||||||||||||||
| Microsoft Corp. | ||||||||||||||||||||||||
| Oracle Corp. | ||||||||||||||||||||||||
| Palo Alto Networks Inc. | ||||||||||||||||||||||||
| Salesforce Inc. | ||||||||||||||||||||||||
| ServiceNow Inc. | ||||||||||||||||||||||||
| Synopsys Inc. | ||||||||||||||||||||||||
| Workday Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net income (loss) attributable to common stockholdersQ2 2025
+ Net income (loss) attributable to common stockholdersQ1 2025
+ Net income (loss) attributable to common stockholdersQ4 2024
+ Net income (loss) attributable to common stockholdersQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Palantir Technologies Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The quarterly financial data reveals several notable trends over the periods under review.
- Share Price
- The share price demonstrated significant volatility from March 2021 through June 2025. Initially, the price increased from $18.89 in March 2021 to a peak near $24.89 in June 2021 but then experienced a sharp decline, reaching a low point of $7.02 by September 2022. Following this trough, the share price embarked on a sustained upward trajectory, particularly from the end of 2022 onward. This rise culminated in a striking increase to $173.27 by June 2025, indicating strong market confidence and improved valuation over the latter periods.
- Earnings Per Share (EPS)
- The EPS figures were negative or nil throughout most of 2021 and into early 2022, reflecting a period of losses or minimal profitability. From March 2021 to March 2023, EPS improved gradually from approximately -$0.26 to -$0.02, nearing break-even. Starting in June 2023, EPS turned positive and continued to increase steadily each quarter, reaching $0.32 by June 2025. This progression signals an improving earnings performance and a transition from loss-making to profitable quarters.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio data is sporadic, with no values reported until September 2023. From September 2023 onwards, the P/E ratio fluctuates markedly, starting at a high 279.03 and peaking at 632.38 in June 2025 before declining slightly but remaining elevated. Such elevated P/E ratios suggest that the market is valuing the company highly relative to its current earnings, potentially reflecting growth expectations or optimism about future profitability despite the still modest EPS levels.
Overall, the data indicates that the company transitioned from a phase of financial struggle and low valuation towards a phase of increasing profitability and substantial market valuation growth. The rapid escalation in share price combined with positive EPS trends points to enhanced operational performance and stronger investor sentiment. However, the very high P/E ratios could imply market anticipation of continued growth or possibly overvaluation that warrants monitoring.
Price to Operating Profit (P/OP)
Palantir Technologies Inc., historical P/OP calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| 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. | ||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | ||||||||||||||||||||||||
| Datadog Inc. | ||||||||||||||||||||||||
| Fair Isaac Corp. | ||||||||||||||||||||||||
| International Business Machines Corp. | ||||||||||||||||||||||||
| Intuit Inc. | ||||||||||||||||||||||||
| Microsoft Corp. | ||||||||||||||||||||||||
| Oracle Corp. | ||||||||||||||||||||||||
| Palo Alto Networks Inc. | ||||||||||||||||||||||||
| Salesforce Inc. | ||||||||||||||||||||||||
| ServiceNow Inc. | ||||||||||||||||||||||||
| Synopsys Inc. | ||||||||||||||||||||||||
| Workday Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Income (loss) from operationsQ2 2025
+ Income (loss) from operationsQ1 2025
+ Income (loss) from operationsQ4 2024
+ Income (loss) from operationsQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Palantir Technologies Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price demonstrates significant volatility over the observed periods. Initially, the price rose from $18.89 in March 2021 to a peak of $24.89 in June 2021, followed by a decline to $7.46 in March 2022. Thereafter, the price exhibited fluctuations, with a notable upward trend beginning in March 2023, reaching $23.40 by December 2023. The upward movement continued sharply into 2024 and 2025, with the share price peaking at $173.27 in March 2025. This indicates an overall strong recovery and growth in market valuation after a period of decline and stabilization.
- Operating Profit Per Share (OPPS)
- Operating profit per share started with negative values, indicating operating losses, with a gradual reduction in losses from -$0.20 in December 2021 to -$0.03 by September 2023. After September 2023, the OPPS turned positive, reflecting improving operating profitability, with consistent increases reaching $0.24 by March 2025. This shift indicates successful operational improvements and possibly enhanced cost management or revenue generation over time.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio is only available from September 2023 onwards. The ratio starts at an extremely high level of 1130.92, indicating that the share price was very high relative to operating profits at that time. Following this, the ratio declines to 203.93 by December 2023, suggesting that the market valuation relative to operating profit became more reasonable or operating profits improved substantially. However, from March 2024 onwards, the P/OP ratio displays volatility, increasing sharply to 941.61 in March 2024, then fluctuating but generally remaining elevated above 600 through June 2025. This suggests that despite improving operating profits, the share price increased disproportionately, reflecting strong investor optimism or anticipated future growth.
- Overall Insights
- There is a clear pattern of operational recovery from losses to profitability over the periods examined, which aligns with an escalating share price, particularly in the later years. The markedly high P/OP ratios in the last periods highlight elevated market expectations relative to current operating earnings. The data suggests optimism about future growth potential, although it also signals a degree of valuation risk given the high multiples. The combination of improving profitability and significant share price growth points to a company in a growth phase, with investors willing to pay premiums for anticipated further performance enhancements.
Price to Sales (P/S)
Palantir Technologies Inc., historical P/S calculation (quarterly data)
| Jun 30, 2025 | 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 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. | ||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | ||||||||||||||||||||||||
| Datadog Inc. | ||||||||||||||||||||||||
| Fair Isaac Corp. | ||||||||||||||||||||||||
| International Business Machines Corp. | ||||||||||||||||||||||||
| Intuit Inc. | ||||||||||||||||||||||||
| Microsoft Corp. | ||||||||||||||||||||||||
| Oracle Corp. | ||||||||||||||||||||||||
| Palo Alto Networks Inc. | ||||||||||||||||||||||||
| Salesforce Inc. | ||||||||||||||||||||||||
| ServiceNow Inc. | ||||||||||||||||||||||||
| Synopsys Inc. | ||||||||||||||||||||||||
| Workday Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024
+ RevenueQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Palantir Technologies Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited significant volatility over the observed periods. Initially, it rose from $18.89 in March 2021 to a peak of $24.89 in June 2021, followed by a steady decline reaching a low point of $7.02 in September 2022. Subsequently, a marked resurgence occurred, with the price ascending sharply from $9.55 in March 2023 to an extraordinary high of $173.27 by March 2025. This latter increase demonstrates a robust upward momentum, especially notable in the last four reported quarters.
- Sales Per Share
- Sales per share data starts from March 2022 with a value of $0.76 and reflects a consistent upward trajectory throughout the period. The sales per share steadily increased each quarter, culminating in $1.45 by March 2025. This growth denotes a continuous improvement in sales performance on a per-share basis, indicating enhanced revenue generation relative to shares outstanding.
- Price-to-Sales (P/S) Ratio Analysis
- The price-to-sales ratio demonstrates considerable fluctuations. Beginning at 15.58 in March 2022, it declines to 7.98 by December 2022, indicative of a period where share price may have fallen more quickly than sales or sales grew relative to price. After this trough, a significant rally in the P/S ratio occurred, with values surging to 119.47 by March 2025. This suggests that the market valuation increased disproportionately compared to sales growth in this timeframe, possibly reflecting heightened investor optimism or expectations of future performance.
- Overall Observations
- The contrasting trends between share price, sales per share, and P/S ratio imply dynamic market sentiment combined with improving sales fundamentals. While sales per share show a steady and gradual increase, price appreciation, especially toward the later periods, far outpaces sales growth, leading to elevated valuation multiples. This divergence may warrant caution as it could point to a premium valuation relative to current sales performance.
Price to Book Value (P/BV)
Palantir Technologies Inc., historical P/BV calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Total Palantir’s 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. | ||||||||||||||||||||||||
| Cadence Design Systems Inc. | ||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | ||||||||||||||||||||||||
| Datadog Inc. | ||||||||||||||||||||||||
| Fair Isaac Corp. | ||||||||||||||||||||||||
| International Business Machines Corp. | ||||||||||||||||||||||||
| Intuit Inc. | ||||||||||||||||||||||||
| Microsoft Corp. | ||||||||||||||||||||||||
| Oracle Corp. | ||||||||||||||||||||||||
| Palo Alto Networks Inc. | ||||||||||||||||||||||||
| Salesforce Inc. | ||||||||||||||||||||||||
| ServiceNow Inc. | ||||||||||||||||||||||||
| Synopsys Inc. | ||||||||||||||||||||||||
| Workday Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Total Palantir’s stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Palantir Technologies Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The share price of the company experienced significant fluctuations over the analyzed periods. Initially, the share price increased from $18.89 in March 2021 to a peak of $24.89 in June 2021, before declining sharply to $7.46 by March 2022. After this low point, the share price showed a recovery trend, rising steadily throughout 2023 and reaching $23.4 in December 2023. The most notable change occurred in 2024 and early 2025, where the share price surged dramatically to $51.13, $124.62, and eventually $173.27 by March 2025, indicating a strong bullish momentum in the market perception of the company.
Book value per share (BVPS) demonstrated a consistent upward trend over the entire period analyzed. Starting from $0.96 in March 2021, BVPS gradually increased each quarter, reaching $2.5 by March 2025. This steady growth in book value per share reflects ongoing accumulation of shareholder equity and a strengthening financial position for the company.
The Price-to-Book Value (P/BV) ratio exhibited considerable volatility, largely influenced by the fluctuation in share price. Initially, the P/BV ratio was quite high, at 19.63 in March 2021, and it reached a maximum of 23.5 in June 2021 before declining to 6.46 in March 2022, aligned with the share price decrease. Subsequently, the ratio experienced moderate increases and decreases until it escalated substantially in 2024 and early 2025, rising to as high as 69.33 in March 2025. This sharp increase in the P/BV ratio suggests that the market price began to significantly exceed the book value, indicating heightened investor optimism and possibly expectations of future growth or earnings potential.
In summary, the data presents a company undergoing considerable market valuation changes, with a stable increase in intrinsic shareholder value as reflected in BVPS, contrasted by a highly variable market sentiment reflected in the share price and P/BV ratio. The pronounced rise in share price and P/BV during the final periods analyzed suggests a period of strong market confidence or speculative interest.
- Share Price Trends
- Fluctuated from $18.89 (Mar 2021) peaking at $24.89 (Jun 2021), dropped to $7.46 (Mar 2022), then recovered and surged dramatically to $173.27 (Mar 2025).
- Book Value per Share (BVPS)
- Consistent quarter-over-quarter growth from $0.96 to $2.5 over the period, reflecting steady improvement in company equity.
- Price-to-Book Value (P/BV) Ratio
- Highly volatile, following the share price trend; initial high values declined by early 2022 but sharply increased in 2024–2025 to a peak of 69.33, indicating rising market valuation relative to book value.