Price to Earnings (P/E)
since 2005
Calculation
EQT Corp., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to EQT Corporation1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 10, 2022 | — | = | 21.67 | ÷ | -3.07 | -3.07 | = | -1,155,759 | ÷ | 376,023,250 | |
| Feb 17, 2021 | — | = | 19.17 | ÷ | -3.47 | -3.47 | = | -967,166 | ÷ | 278,854,465 | |
| Feb 27, 2020 | — | = | 5.38 | ÷ | -4.78 | -4.78 | = | -1,221,695 | ÷ | 255,454,000 | |
| Feb 14, 2019 | — | = | 18.20 | ÷ | -8.81 | -8.81 | = | -2,244,568 | ÷ | 254,762,000 | |
| Feb 15, 2018 | 9.35 | = | 53.34 | ÷ | 5.70 | 5.70 | = | 1,508,529 | ÷ | 264,473,000 | |
| Feb 9, 2017 | — | = | 63.75 | ÷ | -2.62 | -2.62 | = | -452,983 | ÷ | 172,838,000 | |
| Feb 11, 2016 | 102.34 | = | 57.13 | ÷ | 0.56 | 0.56 | = | 85,171 | ÷ | 152,568,000 | |
| Feb 12, 2015 | 31.64 | = | 80.75 | ÷ | 2.55 | 2.55 | = | 386,965 | ÷ | 151,602,000 | |
| Feb 20, 2014 | 38.65 | = | 100.03 | ÷ | 2.59 | 2.59 | = | 390,572 | ÷ | 150,893,000 | |
| Feb 21, 2013 | 48.51 | = | 59.17 | ÷ | 1.22 | 1.22 | = | 183,395 | ÷ | 150,347,211 | |
| Feb 16, 2012 | 15.98 | = | 51.29 | ÷ | 3.21 | 3.21 | = | 479,769 | ÷ | 149,490,315 | |
| Feb 24, 2011 | 31.30 | = | 47.78 | ÷ | 1.53 | 1.53 | = | 227,700 | ÷ | 149,171,339 | |
| Feb 18, 2010 | 37.09 | = | 44.45 | ÷ | 1.20 | 1.20 | = | 156,929 | ÷ | 130,929,345 | |
| Feb 20, 2009 | 15.58 | = | 30.43 | ÷ | 1.95 | 1.95 | = | 255,604 | ÷ | 130,860,463 | |
| Feb 22, 2008 | 28.92 | = | 60.95 | ÷ | 2.11 | 2.11 | = | 257,483 | ÷ | 122,152,641 | |
| Feb 23, 2007 | 24.15 | = | 43.74 | ÷ | 1.81 | 1.81 | = | 220,286 | ÷ | 121,625,746 | |
| Feb 24, 2006 | 16.45 | = | 35.70 | ÷ | 2.17 | 2.17 | = | 260,055 | ÷ | 119,849,572 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 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 EQT Corp. Annual Report.
- Share Price Trend
- The share price exhibited notable volatility over the analyzed period. Initially, there was an upward trajectory from $35.70 in 2006 to a peak of $60.95 in 2008. This was followed by a significant decline in 2009 to $30.43, with recovery phases observed between 2010 and 2014, where the price reached an all-time high of $100.03 in 2014. However, from 2015 onwards, the price witnessed a substantial decline, hitting a low of $5.38 in 2020 before partially rebounding to $21.67 by 2022.
- Earnings per Share (EPS) Pattern
- EPS demonstrated a fluctuating pattern with periods of both profitability and losses. Early years showed modest positive earnings, with an initial decrease from $2.17 in 2006 down to $1.2 in 2010. A peak occurred in 2012 at $3.21, but subsequently EPS became highly volatile, turning negative in several years. Notably, large negative spikes were recorded in 2017 (-2.62), 2019 (-8.81), 2020 (-4.78), and continuing into 2022 with -3.07. This shift signifies substantial challenges in profitability in the latter years.
- Price-to-Earnings (P/E) Ratio Developments
- The P/E ratio generally mirrored the fluctuations in share price and EPS, demonstrating high variability. From 2006 through 2011, the P/E ratio ranged between approximately 15 and 37, indicating moderate valuation relative to earnings. In 2013 and 2014, sharp increases occurred, peaking at 102.34 in 2016, mainly attributable to a steep decrease in earnings (EPS near zero or negative), amplifying the ratio. The missing P/E values in later years coincide with negative EPS, which prevents meaningful calculation. Despite some recovery in EPS, the P/E ratio remained undefined or unsustainable in recent years.
- Overall Financial Performance Insight
- The company experienced a cycle of growth and contraction in both market valuation and profitability over the period. Early growth phases gave way to volatility in earnings and valuations, highlighted by a marked deterioration post-2015. The prevailing trend points to prolonged profitability challenges and increased risk perceptions by the market, as reflected in share price and valuation metrics.
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Comparison to Competitors
EQT Corp., P/E, long-term trends, comparison to competitors
| EQT Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|---|
| Feb 10, 2022 | — | 16.81 | 14.66 | 14.11 |
| Feb 17, 2021 | — | — | — | — |
| Feb 27, 2020 | — | 70.06 | 8.77 | 15.64 |
| Feb 14, 2019 | — | 15.30 | 12.60 | 16.15 |
| Feb 15, 2018 | 9.35 | 22.83 | — | 16.28 |
| Feb 9, 2017 | — | — | — | 42.80 |
| Feb 11, 2016 | 102.34 | 35.02 | — | 20.96 |
| Feb 12, 2015 | 31.64 | 10.61 | 12.03 | 11.56 |
| Feb 20, 2014 | 38.65 | 10.04 | 8.91 | 12.71 |
| Feb 21, 2013 | 48.51 | 8.61 | 8.49 | 8.94 |
| Feb 16, 2012 | 15.98 | 7.96 | 7.60 | 10.03 |
| Feb 24, 2011 | 31.30 | 10.77 | 9.89 | 13.89 |
| Feb 18, 2010 | 37.09 | 13.81 | 14.78 | 15.92 |
| Feb 20, 2009 | 15.58 | 5.29 | — | 7.42 |
| Feb 22, 2008 | 28.92 | 9.89 | 10.59 | 11.78 |
| Feb 23, 2007 | 24.15 | 8.63 | 7.09 | 10.33 |
| Feb 24, 2006 | 16.45 | 9.04 | 6.31 | 10.03 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 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 (Oil, Gas & Consumable Fuels)
EQT Corp., P/E, long-term trends, comparison to sector (oil, gas & consumable fuels)
| EQT Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Feb 10, 2022 | — | 15.11 |
| Feb 17, 2021 | — | — |
| Feb 27, 2020 | — | 20.13 |
| Feb 14, 2019 | — | 15.32 |
| Feb 15, 2018 | 9.35 | 21.22 |
| Feb 9, 2017 | — | 162.35 |
| Feb 11, 2016 | 102.34 | 33.10 |
| Feb 12, 2015 | 31.64 | 11.30 |
| Feb 20, 2014 | 38.65 | 11.25 |
| Feb 21, 2013 | 48.51 | 8.78 |
| Feb 16, 2012 | 15.98 | 8.96 |
| Feb 24, 2011 | 31.30 | 12.17 |
| Feb 18, 2010 | 37.09 | 15.12 |
| Feb 20, 2009 | 15.58 | 9.95 |
| Feb 22, 2008 | 28.92 | 11.08 |
| Feb 23, 2007 | 24.15 | 9.23 |
| Feb 24, 2006 | 16.45 | 9.02 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 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 (Energy)
EQT Corp., P/E, long-term trends, comparison to industry (energy)
| EQT Corp. | Energy | |
|---|---|---|
| Feb 10, 2022 | — | 15.67 |
| Feb 17, 2021 | — | — |
| Feb 27, 2020 | — | 37.93 |
| Feb 14, 2019 | — | 15.94 |
| Feb 15, 2018 | 9.35 | 26.50 |
| Feb 9, 2017 | — | 354.83 |
| Feb 11, 2016 | 102.34 | 33.85 |
| Feb 12, 2015 | 31.64 | 11.97 |
| Feb 20, 2014 | 38.65 | 11.81 |
| Feb 21, 2013 | 48.51 | 9.43 |
| Feb 16, 2012 | 15.98 | 9.63 |
| Feb 24, 2011 | 31.30 | 13.24 |
| Feb 18, 2010 | 37.09 | 15.83 |
| Feb 20, 2009 | 15.58 | 9.90 |
| Feb 22, 2008 | 28.92 | 11.66 |
| Feb 23, 2007 | 24.15 | 9.76 |
| Feb 24, 2006 | 16.45 | 9.78 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 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).