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).
Paying user area
Try for free
Danaher Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Danaher Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Historical Valuation Ratios (Summary)
Danaher Corp., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 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: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03).
- Price to Earnings (P/E) Ratio
- The P/E ratio data shows a period of initial decline from 44.49 to 25.00 between December 31, 2020, and March 31, 2023, indicating a decreasing valuation relative to earnings. Following this trough, there is a notable increase peaking at 48.49 on December 31, 2024. After this peak, the ratio declines again to 36.51 by March 28, 2025. This pattern suggests cyclical investor sentiment or changes in earnings expectations over the analyzed period.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio experiences a downward trend from 36.91 on December 31, 2020, to a low of 20.71 on December 31, 2022. This reflects an improved valuation against operating profit or potentially higher profits. Subsequently, the ratio rises significantly to 39.52 by December 31, 2024, before decreasing to 28.49 on March 28, 2025. The fluctuations imply changing profitability perceptions or operating profit volatility within these quarters.
- Price to Sales (P/S) Ratio
- The P/S ratio declines from a peak of 7.91 on December 31, 2020, to 5.63 in December 31, 2022, suggesting either a reduction in valuation relative to sales or sales growth outpacing price increases. Following this, the ratio rises sharply to 8.10 on September 27, 2024. Thereafter, it falls again to 5.77 at the end of the analyzed timeline. This cyclical behavior indicates swings in market valuation relative to sales performance.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio shows a moderate increase from 3.68 on April 3, 2020, reaching 5.11 by October 1, 2021, followed by a steady decline to 2.70 by March 28, 2025. The initial rise could indicate increasing market valuation of the company over its book value in the early period, while the prolonged decline afterwards may reflect reduced investor confidence relative to book value or changes in equity carrying amounts.
Price to Earnings (P/E)
Danaher Corp., historical P/E calculation (quarterly data)
| Mar 28, 2025 | Dec 31, 2024 | Sep 27, 2024 | Jun 28, 2024 | Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Net earnings attributable to common stockholders (in millions) | ||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||
| AbbVie Inc. | ||||||||||||||||||||||||||||
| Amgen Inc. | ||||||||||||||||||||||||||||
| Bristol-Myers Squibb Co. | ||||||||||||||||||||||||||||
| Eli Lilly & Co. | ||||||||||||||||||||||||||||
| Gilead Sciences Inc. | ||||||||||||||||||||||||||||
| Johnson & Johnson | ||||||||||||||||||||||||||||
| Merck & Co. Inc. | ||||||||||||||||||||||||||||
| Pfizer Inc. | ||||||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | ||||||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | ||||||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 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: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
EPS
= (Net earnings attributable to common stockholdersQ1 2025
+ Net earnings attributable to common stockholdersQ4 2024
+ Net earnings attributable to common stockholdersQ3 2024
+ Net earnings attributable to common stockholdersQ2 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Danaher Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The data reveals a notable fluctuation in share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over the observed quarters.
- Share Price
- The share price started at $163.98 and showed a strong upward trend, reaching a peak of $310.74 in the quarter ending October 1, 2021. Following this peak, the price entered a period of volatility, experiencing declines and partial recoveries. It dropped to a low of $192.07 by March 28, 2025, indicating a loss of earlier gains and reflecting increased market uncertainty or changing investor sentiment through the latter part of the timeline.
- Earnings Per Share (EPS)
- EPS data begins from the quarter ending April 2, 2021, with a value of $4.93. It showed a rising trend up to $9.75 in the quarter ending March 31, 2023, approximately doubling in a two-year span. After reaching this peak, EPS gradually declined to $5.26 by March 28, 2025. This pattern suggests an initial phase of earnings growth followed by a contraction or reduced profitability in the most recent periods.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio was relatively high during the growth phase in early periods, peaking at around 48.49 in the quarter ending December 31, 2024. This elevated P/E suggests that the market priced the company at a premium relative to its earnings, possibly reflecting optimistic growth expectations. However, the ratio also experienced variability, decreasing sharply to 25.00 at one point, before rising again. It ended at 36.51 by the last quarter, signaling moderate investor caution in relation to earnings.
- Overall Trends and Insights
- There is a discernible correlation between share price and EPS, both increasing significantly through early periods before declining towards the end. The P/E ratio's volatility indicates fluctuating market confidence and adjustments in valuation metrics in response to earnings performance and possibly external factors. The decline in EPS and share price in the later quarters could point toward challenges in sustaining growth or external economic pressures affecting profitability and investor confidence. The sharp rises and falls warrant close monitoring for potential cyclical effects or changes in company fundamentals.
Price to Operating Profit (P/OP)
Danaher Corp., historical P/OP calculation (quarterly data)
| Mar 28, 2025 | Dec 31, 2024 | Sep 27, 2024 | Jun 28, 2024 | Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Operating profit (in millions) | ||||||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||
| AbbVie Inc. | ||||||||||||||||||||||||||||
| Amgen Inc. | ||||||||||||||||||||||||||||
| Bristol-Myers Squibb Co. | ||||||||||||||||||||||||||||
| Eli Lilly & Co. | ||||||||||||||||||||||||||||
| Gilead Sciences Inc. | ||||||||||||||||||||||||||||
| Johnson & Johnson | ||||||||||||||||||||||||||||
| Merck & Co. Inc. | ||||||||||||||||||||||||||||
| Pfizer Inc. | ||||||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | ||||||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | ||||||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 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: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Operating profit per share
= (Operating profitQ1 2025
+ Operating profitQ4 2024
+ Operating profitQ3 2024
+ Operating profitQ2 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Danaher Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The data reveals several notable trends and variations across the periods analyzed.
- Share Price
-
The share price exhibited substantial variability over the timeline. Initially, there was a notable increase from $163.98 to a peak of $310.74 within the period from April 2020 to October 2021. Following this peak, the price experienced fluctuations with intermittent declines and rises through subsequent quarters. By the end of the latest period, the share price retreated to $192.07, reflecting a significant decrease from its peak value but remaining above the initial value observed in early 2020.
- Operating Profit Per Share (OP)
-
Operating profit per share data was unavailable for early periods but, starting from April 2021, there was a clear ascending trend, escalating from $5.94 to a high of $11.92 by December 2022. However, from March 2023 onward, a consistent decline is evident, decreasing to $6.74 by March 2025. This pattern indicates initial growth and efficiency improvements in operations during the earlier periods, followed by a reduction in profitability on a per-share basis in the more recent periods.
- Price to Operating Profit Ratio (P/OP)
-
The P/OP ratio started at a relatively high level of 36.91 in April 2021 and showed a general downward trajectory, reaching its lowest points below 21 during late 2022. This decline suggests that share prices were becoming less expensive relative to operating profit per share during that period. Nevertheless, from early 2023, the ratio climbed steadily, peaking around 39.52 towards late 2024, indicating a valuation premium as share prices increased relative to operating profits. The ratio slightly decreased afterward to 28.49 by March 2025, suggesting some reduction in valuation multiples.
In summary, the data reflects a period of rising operational profitability until late 2022, followed by a marked decline. Meanwhile, share prices showed volatility with an initial growth phase and subsequent correction. The P/OP ratio movements indicate shifts in market valuation relative to underlying profitability, with a period of undervaluation transitioning to a premium before a moderate reassessment towards the end of the observed time frame.
Price to Sales (P/S)
Danaher Corp., historical P/S calculation (quarterly data)
| Mar 28, 2025 | Dec 31, 2024 | Sep 27, 2024 | Jun 28, 2024 | Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Sales (in millions) | ||||||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||
| AbbVie Inc. | ||||||||||||||||||||||||||||
| Amgen Inc. | ||||||||||||||||||||||||||||
| Bristol-Myers Squibb Co. | ||||||||||||||||||||||||||||
| Eli Lilly & Co. | ||||||||||||||||||||||||||||
| Gilead Sciences Inc. | ||||||||||||||||||||||||||||
| Johnson & Johnson | ||||||||||||||||||||||||||||
| Merck & Co. Inc. | ||||||||||||||||||||||||||||
| Pfizer Inc. | ||||||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | ||||||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | ||||||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 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: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Sales per share
= (SalesQ1 2025
+ SalesQ4 2024
+ SalesQ3 2024
+ SalesQ2 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Danaher Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The share price exhibited notable volatility throughout the periods under review. Beginning at $163.98, the share price reached a peak of approximately $310.74 in October 2021, followed by a decline towards the end of 2021. In 2022, the share price fluctuated within the range of approximately $231.99 to $279.23. A downward trend is apparent starting from the first quarter of 2023, with the price decreasing to around $196.84 by September 2023. Subsequently, a partial recovery is observed toward the end of 2023 and early 2024, peaking near $264.18 in June 2024, before declining again to $192.07 by March 2025.
Sales per share data was available starting in April 2021 and displayed an initial upward trend from $31.29 to a peak of $43.2 in December 2022. Following this peak, sales per share declined steadily through 2023 into early 2024, reaching a low of $32.3 in March 2024, before stabilizing slightly in the later quarters at around $33.28 by March 2025.
The Price-to-Sales (P/S) ratio demonstrated fluctuations that generally correspond to movements in share price and sales per share. The ratio increased from 7.01 in April 2021 to a peak of 7.91 in December 2021, indicating that the share price grew faster than sales per share during this period. Subsequently, the ratio decreased steadily, reaching a low of 5.63 in the first quarter of 2023, reflecting a period where sales per share growth outpaced share price or the share price declined. A rebound in the P/S ratio occurred during 2023 and early 2024, with values climbing to 8.1 by September 2024, suggesting the market valuation relative to sales was increasing again. Toward the end of the time series, the P/S ratio declined to 5.77 in March 2025.
Overall, the data reflects a period of significant share price appreciation through 2021, followed by increased volatility and a general downward trend from late 2022 through early 2025. Sales per share showed growth until late 2022 before tapering off and declining, while the P/S ratio trends indicate shifting market valuation relative to sales, with periods of both premium and discount pricing evident.
- Share Price
- Marked by a peak in late 2021, followed by fluctuations and a downward shift in 2023 to early 2025.
- Sales per Share
- Peaked near the end of 2022, then declined through 2023 and early 2024 before stabilizing.
- Price-to-Sales (P/S) Ratio
- Varied significantly, reflecting changing investor sentiment and market valuation in relation to sales trends.
Price to Book Value (P/BV)
Danaher Corp., historical P/BV calculation (quarterly data)
| Mar 28, 2025 | Dec 31, 2024 | Sep 27, 2024 | Jun 28, 2024 | Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Total Danaher stockholders’ equity (in millions) | ||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||
| AbbVie Inc. | ||||||||||||||||||||||||||||
| Amgen Inc. | ||||||||||||||||||||||||||||
| Bristol-Myers Squibb Co. | ||||||||||||||||||||||||||||
| Eli Lilly & Co. | ||||||||||||||||||||||||||||
| Gilead Sciences Inc. | ||||||||||||||||||||||||||||
| Johnson & Johnson | ||||||||||||||||||||||||||||
| Merck & Co. Inc. | ||||||||||||||||||||||||||||
| Pfizer Inc. | ||||||||||||||||||||||||||||
| Regeneron Pharmaceuticals Inc. | ||||||||||||||||||||||||||||
| Thermo Fisher Scientific Inc. | ||||||||||||||||||||||||||||
| Vertex Pharmaceuticals Inc. | ||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 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: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
BVPS = Total Danaher stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Danaher Corp. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited an overall upward trend from April 2020 to July 2021, increasing from 163.98 US$ to a peak of 310.74 US$ by October 2021. Following this peak, the share price experienced notable volatility and several declines, dropping to 196.84 US$ in September 2023. After that low point, some recovery is observed, reaching 264.18 US$ in December 2024, before decreasing again to 192.07 US$ by March 2025.
- Book Value per Share (BVPS) Trend
- BVPS showed a consistent rising trend across the entire period, increasing from 44.52 US$ in April 2020 to a high of 72.31 US$ in December 2023. Subsequent periods saw minor fluctuations but generally maintained values near the 70 US$ level, ending at 71.05 US$ in March 2025, indicating steady growth in the company's net asset value per share.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio fluctuated considerably over the observed periods. It started at 3.68 in April 2020, rose to a peak of 5.11 in October 2021, signaling an expansion in market valuation relative to book value. After this peak, the ratio declined significantly, reaching a low of 2.7 by March 2025. This declining trend implies a reduction in market confidence or valuation multiples relative to the company's book value, especially in the later periods.
- Overall Insights
- The share price and P/BV ratio trends suggest that market enthusiasm peaked in late 2021, followed by a phase of correction or reduced investor optimism through early 2025. Meanwhile, the steady increase in BVPS reflects ongoing accumulation of shareholder equity and sound underlying asset growth. The divergence between declining share prices and rising BVPS in later periods might indicate a period of market undervaluation or external factors negatively impacting market perceptions despite solid fundamental growth.