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
EQT Corp. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to EQT Corp. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Historical Valuation Ratios (Summary)
EQT Corp., historical price multiples (quarterly data)
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
The financial ratios over the examined periods exhibit varied trends, reflecting shifts in market valuation relative to the company’s earnings, profits, sales, and book value.
- Price to Earnings (P/E) and Price to Operating Profit (P/OP)
- Data for Price to Earnings (P/E) and Price to Operating Profit (P/OP) ratios are only available for the latest period, showing values of 7.71 and 5.03 respectively as of September 30, 2022. These ratios indicate a moderate market valuation relative to earnings and operating profits at that point in time, although trend analysis is limited due to the absence of prior comparative data.
- Price to Sales (P/S)
- The P/S ratio shows considerable fluctuation throughout the observed periods. Initially, it decreased from 1.09 in March 2019 to a low of 0.36 in December 2019, indicating a decline in market valuation relative to sales. However, beginning in March 2020, there was a marked upward trend reaching a peak of 2.02 in December 2020, followed by some volatility but maintaining levels generally above 1.00 through September 2022. This pattern suggests a recovery and strengthening market confidence regarding the company’s sales performance post-2019, with some periods of correction.
- Price to Book Value (P/BV)
- The P/BV ratio mirrors a somewhat similar trajectory with a decrease from 0.46 in March 2019 to a low of 0.14 in December 2019, indicating the market priced the company significantly below its book value during this time. From early 2020 onward, a consistent upward trend is noted, reaching values as high as 1.83 by March 2022 and slightly declining to 1.49 in September 2022. This increase points to improved investor perception of the company’s net assets and likely an enhanced financial position or optimistic outlook.
In summary, the data reveals a period of depressed valuation ratios through late 2019, followed by a significant recovery and upward adjustment in market valuation relative to sales and book value throughout 2020 to 2022. The availability of P/E and P/OP ratios only at the latest date limits the depth of interpretation for profitability-based valuation metrics, but their absolute values suggest moderate market expectations for earnings and operating profit generation at that time.
Price to Earnings (P/E)
EQT Corp., historical P/E calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||
| Net income (loss) attributable to EQT Corporation (in thousands) | ||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
EPS
= (Net income (loss) attributable to EQT CorporationQ3 2022
+ Net income (loss) attributable to EQT CorporationQ2 2022
+ Net income (loss) attributable to EQT CorporationQ1 2022
+ Net income (loss) attributable to EQT CorporationQ4 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of EQT Corp. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited a declining trend from early 2019 through the end of 2019, dropping from $20.16 in March 2019 to a low of $5.38 in December 2019. In 2020, the price began to recover steadily, rising from $13.62 in March to $19.17 by December. Throughout 2021, the share price remained relatively stable, fluctuating between approximately $18.41 and $21.67. In 2022, there was a significant upward surge in the share price, peaking at $42.75 in June before slightly retreating to $39.10 in September.
- Earnings Per Share (EPS)
- EPS showed consistent negative values from 2019 to late 2021, indicating losses each quarter. The losses deepened substantially at various points, reaching lows such as -8.64 in September 2020 and -7.66 in December 2021. Notably, in the first three quarters of 2022, EPS continued to fluctuate widely, with a sharp negative value of -7.12 in March, improving to -2.17 by September. However, by the last recorded period (September 2022), EPS turned positive at 5.07, marking a significant improvement and suggesting a possible return to profitability.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio was not calculable or available for most periods due to negative EPS values. It became available only in September 2022, standing at 7.71. This reflects the impact of the positive EPS reported in that quarter, enabling a valuation metric based on earnings to be presented.
- Overall Analysis
- The financial data illustrate a challenging period with continued losses through to late 2021, which coincided with low share prices. Recovery in share price began in 2020 and became more pronounced in 2022, likely driven by improved earnings performance that culminated in the first positive EPS in several years. The emergence of a positive earnings figure and a corresponding P/E ratio in the last quarter suggests a potential turning point in financial health and market sentiment towards the company.
Price to Operating Profit (P/OP)
EQT Corp., historical P/OP calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||
| Operating income (loss) (in thousands) | ||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
Operating profit per share
= (Operating income (loss)Q3 2022
+ Operating income (loss)Q2 2022
+ Operating income (loss)Q1 2022
+ Operating income (loss)Q4 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of EQT Corp. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The share price of the company exhibited significant volatility over the observed period. Initially, between the first quarter of 2019 and the end of 2019, the share price experienced a pronounced decline from $20.16 to a low point of $5.38. This downward trend reversed in early 2020, with a recovery phase extending through 2021, during which the share price fluctuated mostly between approximately $13.41 and $21.67. The most notable increase occurred in the first three quarters of 2022, where the share price surged sharply, peaking at $42.75 before settling slightly lower at $39.10.
Operating profit per share (OP) demonstrated a generally negative trend throughout the majority of the time frame, indicating consistent operational challenges or losses. The OP per share deteriorated from -$2.57 in the first quarter of 2019 to a nadir of -$9.73 in the third quarter of 2020. Although some fluctuations were apparent thereafter, including intermittent improvements, the values largely remained negative into 2021 and early 2022. A notable exception is observed in the September 2022 quarter, where the operating profit per share turned positive to $7.78, marking a substantial turnaround in operational profitability.
The price-to-operating-profit (P/OP) ratio, available only for the last data point, is recorded at 5.03. This metric, combined with the positive operating profit per share in the same quarter, suggests a favorable valuation relative to operating earnings at that time.
Overall, despite earlier periods of operational loss and stock price decline, the company showed considerable improvement in operating performance and share price valuation by late 2022. The positive operating profit per share and increased share price indicate potential strengthening in financial health and investor confidence toward the end of the observed period.
Price to Sales (P/S)
EQT Corp., historical P/S calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||
| Sales of natural gas, natural gas liquids and oil (in thousands) | ||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
Sales per share
= (Sales of natural gas, natural gas liquids and oilQ3 2022
+ Sales of natural gas, natural gas liquids and oilQ2 2022
+ Sales of natural gas, natural gas liquids and oilQ1 2022
+ Sales of natural gas, natural gas liquids and oilQ4 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of EQT Corp. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The analysis reveals several notable trends in the financial performance over the examined quarters. The share price experienced significant volatility. Initially, it declined sharply from 20.16 US$ at the end of the first quarter of 2019 to a low of 5.38 US$ by the end of 2019. This was followed by a recovery phase starting in early 2020, where the price rebounded to nearly 20 US$ by the end of 2020 and continued to rise in 2021 and early 2022, reaching a peak of 42.75 US$ in mid-2022 before slightly retreating.
Sales per share exhibited a decreasing trend during 2019, reducing from 18.57 US$ in the first quarter to 9.5 US$ by the last quarter of the same year. This downward movement continued into mid-2020, reaching a minimum of 9.5 US$ but then began a steady ascent from late 2020 onward. By the last quarter of 2022, sales per share had more than tripled from their low point, reaching 33.67 US$.
The price-to-sales (P/S) ratio showed considerable fluctuation corresponding to movements in share price and sales per share. Beginning with a moderate ratio of about 1.09 in early 2019, it dropped to a low of 0.36 at the end of 2019, likely reflecting declining investor valuation relative to sales. In 2020, the ratio climbed significantly, peaking at 2.02 by the end of that year, indicating an improved market valuation versus sales. During 2021 and into 2022, the P/S ratio moderated, generally oscillating between 1.16 and 1.94, reflecting the interplay of rising sales per share and fluctuating share prices.
Overall, the data highlights a challenging period in 2019 marked by declining share price and sales per share, followed by a robust recovery starting in 2020 and continuing through 2022. The share price increase outpaced sales growth in certain intervals, resulting in expanded valuation multiples during these periods. Nonetheless, the subsequent normalization of the P/S ratio suggests some moderation in investor expectations relative to the company’s sales growth.
- Share Price Trend
- Sharp decline throughout 2019, followed by a steady recovery and substantial growth into 2022, peaking mid-2022.
- Sales per Share
- Consistent decline in 2019 and early 2020, then a marked and sustained increase through 2022.
- Price-to-Sales Ratio
- Fell to a low in late 2019, surged in 2020, then oscillated moderately in subsequent quarters reflecting market valuation adjustments.
- Overall Insight
- Financial indicators reflect a period of weakness followed by significant rebound; valuation metrics indicate shifting investor sentiment in response to improving sales performance and share price appreciation.
Price to Book Value (P/BV)
EQT Corp., historical P/BV calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||
| Common shareholders’ equity (in thousands) | ||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||
| Chevron Corp. | ||||||||||||||||||||
| ConocoPhillips | ||||||||||||||||||||
| Exxon Mobil Corp. | ||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2022 Calculation
BVPS = Common shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of EQT Corp. Quarterly or Annual Report.
4 Q3 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals noteworthy trends in the share price, book value per share (BVPS), and the price-to-book value (P/BV) ratio over the observed periods.
- Share Price
- The share price exhibited significant volatility throughout the timeframe. Initially, it declined sharply from $20.16 in March 2019 to a low of $5.38 by December 2019. Following this trough, the price began a recovery phase, increasing steadily through 2020 and 2021, reaching a range between $18 and $22. A marked surge occurred starting in early 2022, with the share price approximately doubling to peak at $42.75 in June 2022 before slightly retreating to $39.10 in September 2022. This pattern suggests a period of substantial market revaluation and optimism in early 2022.
- Book Value Per Share (BVPS)
- BVPS displayed a general downward trend from $43.64 in March 2019 to $33.19 by the end of 2020, indicating potential deterioration in the company's net asset value per share during this period. The following year showed further variability, with a significant drop to $21.93 in June 2021, remaining relatively low through September 2021. A modest upward recovery is observed afterward, with BVPS increasing to $26.21 by September 2022. This movement may reflect balance sheet adjustments, asset impairments, or other accounting changes influencing book value.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio mirrored the dynamics of share price relative to book value. It began very low at 0.46 in March 2019, declining to a trough of 0.14 in December 2019, corresponding with the share price decline and the gradual reduction in BVPS. Subsequently, the ratio increased steadily, reaching close to unity around late 2021, reflecting a market valuation roughly equal to book value. In 2022, the ratio surged dramatically, peaking at 1.83 in March 2022, then slightly moderating but remaining substantially elevated (1.49 in September 2022). This elevated ratio suggests that market capitalization grew disproportionately relative to book value during this period, indicating increased investor confidence or expectations of improved future performance.
In summary, the data indicate the company experienced a period of financial and market stress culminating at the end of 2019, followed by gradual stabilization and recovery through 2020 and 2021. The sharp increase in share price and P/BV ratio in 2022 contrasts with a more modest improvement in BVPS, pointing to a strong market-driven revaluation. This pattern may reflect shifts in market sentiment, strategic developments, or changes in external conditions positively influencing investor perceptions despite the less pronounced increase in net asset value.