Price to Earnings (P/E)
since 2005
Calculation
DuPont de Nemours Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income available for DuPont common stockholders1 (in millions) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 14, 2020 | 78.84 | = | 53.10 | ÷ | 0.67 | 0.67 | = | 498 | ÷ | 739,388,462 | |
| Feb 11, 2019 | 10.17 | = | 52.00 | ÷ | 5.11 | 5.11 | = | 3,844 | ÷ | 751,587,353 | |
| Feb 15, 2018 | 38.21 | = | 71.85 | ÷ | 1.88 | 1.88 | = | 1,460 | ÷ | 776,341,159 | |
| Feb 9, 2017 | 6.13 | = | 60.26 | ÷ | 9.84 | 9.84 | = | 3,978 | ÷ | 404,437,193 | |
| Feb 12, 2016 | 2.33 | = | 46.01 | ÷ | 19.72 | 19.72 | = | 7,345 | ÷ | 372,370,816 | |
| Feb 13, 2015 | 5.56 | = | 49.44 | ÷ | 8.89 | 8.89 | = | 3,432 | ÷ | 385,898,352 | |
| Feb 14, 2014 | 4.26 | = | 46.71 | ÷ | 10.97 | 10.97 | = | 4,447 | ÷ | 405,276,411 | |
| Feb 15, 2013 | 15.33 | = | 32.16 | ÷ | 2.10 | 2.10 | = | 842 | ÷ | 401,454,718 | |
| Feb 15, 2012 | 5.54 | = | 33.66 | ÷ | 6.08 | 6.08 | = | 2,402 | ÷ | 395,124,103 | |
| Feb 18, 2011 | 7.62 | = | 38.54 | ÷ | 5.06 | 5.06 | = | 1,970 | ÷ | 389,307,211 | |
| Feb 19, 2010 | 33.36 | = | 29.23 | ÷ | 0.88 | 0.88 | = | 336 | ÷ | 383,431,250 | |
| Feb 20, 2009 | 4.31 | = | 8.10 | ÷ | 1.88 | 1.88 | = | 579 | ÷ | 308,115,424 | |
| Feb 19, 2008 | 4.25 | = | 39.18 | ÷ | 9.22 | 9.22 | = | 2,887 | ÷ | 313,201,935 | |
| Feb 20, 2007 | 3.72 | = | 43.38 | ÷ | 11.65 | 11.65 | = | 3,724 | ÷ | 319,722,598 | |
| Feb 17, 2006 | 3.13 | = | 43.80 | ÷ | 14.00 | 14.00 | = | 4,515 | ÷ | 322,474,411 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of DuPont de Nemours Inc. Annual Report.
The financial performance and valuation metrics between 2006 and 2020 exhibit significant volatility, characterized by a non-linear relationship between share price movements and earnings per share (EPS). The Price-to-Earnings (P/E) ratio demonstrates extreme fluctuations, suggesting periods of intense valuation shifts driven primarily by earnings instability rather than consistent price appreciation.
- Valuation Volatility and Extremes
- The P/E ratio fluctuated from a historical low of 2.33 in 2016 to a peak of 78.84 in 2020. This wide variance indicates a highly unstable valuation profile over the fifteen-year period, with the ratio spending significant time at low multiples before experiencing rapid expansion in the final years of the sequence.
- Earnings-Driven Valuation Spikes
- Sharp increases in the P/E ratio were frequently precipitated by collapses in earnings. In 2010, the ratio spiked to 33.36 as EPS fell to 0.88. A more pronounced occurrence is observed in 2020, where the P/E ratio reached 78.84, driven by a significant decline in EPS to 0.67 while the share price remained relatively stable at 53.10.
- Periods of Low Valuation
- A consistent trend of low P/E multiples was observed from 2006 to 2009 and again between 2011 and 2017. During these intervals, the ratio generally remained below 10. The most notable instance of undervaluation occurred in 2016, where a peak EPS of 19.72 resulted in the lowest P/E ratio of 2.33, despite a share price of 46.01.
- Recent Valuation Expansion
- Beginning in 2018, a distinct upward trend in the P/E ratio emerged, rising from 38.21 to 78.84 by 2020. This expansion indicates a significant divergence between market pricing and fundamental earnings, as the share price did not decline proportionally to the reduction in EPS during this period.
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Comparison to Competitors
DuPont de Nemours Inc., P/E, long-term trends, comparison to competitors
| DuPont de Nemours Inc. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Feb 14, 2020 | 78.84 | 46.22 | 34.31 |
| Feb 11, 2019 | 10.17 | 19.41 | 36.79 |
| Feb 15, 2018 | 38.21 | 34.48 | 21.12 |
| Feb 9, 2017 | 6.13 | 22.87 | 25.74 |
| Feb 12, 2016 | 2.33 | 18.76 | 22.74 |
| Feb 13, 2015 | 5.56 | 21.92 | 31.54 |
| Feb 14, 2014 | 4.26 | 21.31 | 26.50 |
| Feb 15, 2013 | 15.33 | 19.64 | 26.48 |
| Feb 15, 2012 | 5.54 | 19.45 | 23.80 |
| Feb 18, 2011 | 7.62 | 24.62 | 19.17 |
| Feb 19, 2010 | 33.36 | 18.56 | 16.18 |
| Feb 20, 2009 | 4.31 | 15.03 | 11.36 |
| Feb 19, 2008 | 4.25 | 22.42 | 10.62 |
| Feb 20, 2007 | 3.72 | 20.00 | 15.53 |
| Feb 17, 2006 | 3.13 | 24.39 | 12.72 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Chemicals)
DuPont de Nemours Inc., P/E, long-term trends, comparison to sector (chemicals)
| DuPont de Nemours Inc. | Chemicals | |
|---|---|---|
| Feb 14, 2020 | 78.84 | 41.42 |
| Feb 11, 2019 | 10.17 | 22.92 |
| Feb 15, 2018 | 38.21 | 26.64 |
| Feb 9, 2017 | 6.13 | 24.11 |
| Feb 12, 2016 | 2.33 | 20.37 |
| Feb 13, 2015 | 5.56 | 25.17 |
| Feb 14, 2014 | 4.26 | 22.86 |
| Feb 15, 2013 | 15.33 | 21.50 |
| Feb 15, 2012 | 5.54 | 20.36 |
| Feb 18, 2011 | 7.62 | 23.10 |
| Feb 19, 2010 | 33.36 | 17.95 |
| Feb 20, 2009 | 4.31 | 14.00 |
| Feb 19, 2008 | 4.25 | 18.37 |
| Feb 20, 2007 | 3.72 | 18.36 |
| Feb 17, 2006 | 3.13 | 19.84 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Materials)
DuPont de Nemours Inc., P/E, long-term trends, comparison to industry (materials)
| DuPont de Nemours Inc. | Materials | |
|---|---|---|
| Feb 14, 2020 | 78.84 | 49.13 |
| Feb 11, 2019 | 10.17 | 17.75 |
| Feb 15, 2018 | 38.21 | 22.15 |
| Feb 9, 2017 | 6.13 | — |
| Feb 12, 2016 | 2.33 | — |
| Feb 13, 2015 | 5.56 | 69.44 |
| Feb 14, 2014 | 4.26 | 17.83 |
| Feb 15, 2013 | 15.33 | 15.06 |
| Feb 15, 2012 | 5.54 | 12.60 |
| Feb 18, 2011 | 7.62 | 14.83 |
| Feb 19, 2010 | 33.36 | 14.87 |
| Feb 20, 2009 | 4.31 | — |
| Feb 19, 2008 | 4.25 | 15.68 |
| Feb 20, 2007 | 3.72 | 13.52 |
| Feb 17, 2006 | 3.13 | 15.84 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).