Price to Sales (P/S)
since 2005
Calculation
DuPont de Nemours Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 14, 2020 | 1.83 | = | 53.10 | ÷ | 29.09 | 29.09 | = | 21,512 | ÷ | 739,388,462 | |
| Feb 11, 2019 | 0.45 | = | 52.00 | ÷ | 114.39 | 114.39 | = | 85,977 | ÷ | 751,587,353 | |
| Feb 15, 2018 | 0.89 | = | 71.85 | ÷ | 80.49 | 80.49 | = | 62,484 | ÷ | 776,341,159 | |
| Feb 9, 2017 | 0.51 | = | 60.26 | ÷ | 119.07 | 119.07 | = | 48,158 | ÷ | 404,437,193 | |
| Feb 12, 2016 | 0.35 | = | 46.01 | ÷ | 130.99 | 130.99 | = | 48,778 | ÷ | 372,370,816 | |
| Feb 13, 2015 | 0.33 | = | 49.44 | ÷ | 150.73 | 150.73 | = | 58,167 | ÷ | 385,898,352 | |
| Feb 14, 2014 | 0.33 | = | 46.71 | ÷ | 140.84 | 140.84 | = | 57,080 | ÷ | 405,276,411 | |
| Feb 15, 2013 | 0.23 | = | 32.16 | ÷ | 141.45 | 141.45 | = | 56,786 | ÷ | 401,454,718 | |
| Feb 15, 2012 | 0.22 | = | 33.66 | ÷ | 151.81 | 151.81 | = | 59,985 | ÷ | 395,124,103 | |
| Feb 18, 2011 | 0.28 | = | 38.54 | ÷ | 137.87 | 137.87 | = | 53,674 | ÷ | 389,307,211 | |
| Feb 19, 2010 | 0.25 | = | 29.23 | ÷ | 117.04 | 117.04 | = | 44,875 | ÷ | 383,431,250 | |
| Feb 20, 2009 | 0.04 | = | 8.10 | ÷ | 186.66 | 186.66 | = | 57,514 | ÷ | 308,115,424 | |
| Feb 19, 2008 | 0.23 | = | 39.18 | ÷ | 170.86 | 170.86 | = | 53,513 | ÷ | 313,201,935 | |
| Feb 20, 2007 | 0.28 | = | 43.38 | ÷ | 153.65 | 153.65 | = | 49,124 | ÷ | 319,722,598 | |
| Feb 17, 2006 | 0.31 | = | 43.80 | ÷ | 143.60 | 143.60 | = | 46,307 | ÷ | 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.
An analysis of the Price to Sales (P/S) ratio from February 2006 to February 2020 reveals three distinct valuation phases characterized by shifting relationships between equity market pricing and revenue generation per share.
- Early Period and Crisis Volatility (2006-2012)
- During this period, the P/S ratio generally remained low, oscillating between 0.22 and 0.31. A significant anomaly occurred in February 2009, when the ratio plummeted to 0.04. This collapse was driven by a sharp contraction in the share price to $8.10, which occurred despite sales per share reaching a period high of $186.66.
- Stabilization and Incremental Growth (2013-2016)
- Following the recovery from the 2009 low, the ratio entered a phase of stability and gradual appreciation, rising from 0.23 in 2013 to 0.35 in 2016. This trend was supported by a steady share price in the $40 to $50 range and relatively consistent sales per share averaging approximately $140.
- Valuation Expansion and Revenue Contraction (2017-2020)
- A substantial shift in the valuation multiple began in 2017. The P/S ratio increased from 0.51 in 2017 to 0.89 in 2018, the latter coinciding with a peak share price of $71.85 and a decline in sales per share to $80.49. By February 2020, the P/S ratio reached a historical peak of 1.83. This sharp increase was primarily the result of a precipitous decline in sales per share to $29.09, while the share price remained comparatively resilient at $53.10.
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Comparison to Competitors
DuPont de Nemours Inc., P/S, long-term trends, comparison to competitors
| DuPont de Nemours Inc. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Feb 14, 2020 | 1.83 | 3.74 | 2.95 |
| Feb 11, 2019 | 0.45 | 5.71 | 2.33 |
| Feb 15, 2018 | 0.89 | 3.76 | 2.50 |
| Feb 9, 2017 | 0.51 | 3.26 | 2.46 |
| Feb 12, 2016 | 0.35 | 2.69 | 2.11 |
| Feb 13, 2015 | 0.33 | 3.03 | 2.45 |
| Feb 14, 2014 | 0.33 | 3.14 | 1.96 |
| Feb 15, 2013 | 0.23 | 2.96 | 1.75 |
| Feb 15, 2012 | 0.22 | 2.89 | 1.20 |
| Feb 18, 2011 | 0.28 | 2.91 | 1.14 |
| Feb 19, 2010 | 0.25 | 2.60 | 0.99 |
| Feb 20, 2009 | 0.04 | 1.69 | 0.68 |
| Feb 19, 2008 | 0.23 | 2.81 | 0.82 |
| Feb 20, 2007 | 0.28 | 2.37 | 1.15 |
| Feb 17, 2006 | 0.31 | 2.31 | 0.82 |
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/S, long-term trends, comparison to sector (chemicals)
| DuPont de Nemours Inc. | Chemicals | |
|---|---|---|
| Feb 14, 2020 | 1.83 | 3.44 |
| Feb 11, 2019 | 0.45 | 3.88 |
| Feb 15, 2018 | 0.89 | 3.04 |
| Feb 9, 2017 | 0.51 | 2.83 |
| Feb 12, 2016 | 0.35 | 2.40 |
| Feb 13, 2015 | 0.33 | 2.75 |
| Feb 14, 2014 | 0.33 | 2.59 |
| Feb 15, 2013 | 0.23 | 2.41 |
| Feb 15, 2012 | 0.22 | 2.15 |
| Feb 18, 2011 | 0.28 | 2.14 |
| Feb 19, 2010 | 0.25 | 1.89 |
| Feb 20, 2009 | 0.04 | 1.26 |
| Feb 19, 2008 | 0.23 | 1.89 |
| Feb 20, 2007 | 0.28 | 1.78 |
| Feb 17, 2006 | 0.31 | 1.59 |
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/S, long-term trends, comparison to industry (materials)
| DuPont de Nemours Inc. | Materials | |
|---|---|---|
| Feb 14, 2020 | 1.83 | 2.91 |
| Feb 11, 2019 | 0.45 | 2.81 |
| Feb 15, 2018 | 0.89 | 2.50 |
| Feb 9, 2017 | 0.51 | 2.22 |
| Feb 12, 2016 | 0.35 | 1.64 |
| Feb 13, 2015 | 0.33 | 1.94 |
| Feb 14, 2014 | 0.33 | 2.14 |
| Feb 15, 2013 | 0.23 | 2.08 |
| Feb 15, 2012 | 0.22 | 2.06 |
| Feb 18, 2011 | 0.28 | 2.38 |
| Feb 19, 2010 | 0.25 | 2.02 |
| Feb 20, 2009 | 0.04 | 0.98 |
| Feb 19, 2008 | 0.23 | 2.08 |
| Feb 20, 2007 | 0.28 | 1.83 |
| Feb 17, 2006 | 0.31 | 1.77 |
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).