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).
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Historical Valuation Ratios (Summary)
Generac Holdings Inc., historical price multiples (quarterly data)
Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Price to Earnings (P/E) Ratio Trend
- The P/E ratio exhibited moderate fluctuation from early 2018 through 2019, generally increasing from 16.17 to 26.64. In 2020, a significant surge occurred, reaching a peak of 59.72 by the end of the year. This peak was followed by a gradual decline throughout 2021 and into mid-2022, stabilizing around the high twenties. The elevated P/E ratios in 2020 and 2021 indicate increased market expectations for earnings growth or potentially elevated stock prices relative to earnings during these periods.
- Price to Operating Profit (P/OP) Ratio Trend
- The P/OP ratio followed a pattern similar to the P/E ratio, starting near 10 in early 2018 and rising gradually to over 18 by the end of 2019. In 2020, it experienced a sharp increase, peaking at 43.7 in December 2020. Subsequently, the ratio decreased throughout 2021 and early 2022, settling around 22 by mid-2022. This trend suggests that the market was bidding up the stock relative to operating profits during 2020, possibly reflecting optimistic future profit expectations or changes in profitability dynamics.
- Price to Sales (P/S) Ratio Trend
- The P/S ratio showed a steady increase from 1.67 in early 2018 to a high of 8.42 at the end of 2020, indicating a significant rise in stock price relative to sales. Following this peak, the ratio declined through 2021 and the first half of 2022, reaching approximately 3.6. This pattern points to an expansion in valuation multiples relative to sales during the 2019-2020 period, followed by a normalization or correction in subsequent periods.
- Price to Book Value (P/BV) Ratio Trend
- The P/BV ratio showed a gradual increase from around 5.1 in early 2018 up to 6.5 by the end of 2019. Similar to other valuation ratios, there was a marked rise in 2020, peaking at 15.06 at year-end. The ratio then declined notably throughout 2021 and into 2022, falling to about 6.65 by mid-2022. This trend implies that the stock's valuation relative to book value inflated significantly during 2020 before contracting closer to historical levels.
- Overall Valuation Insights
- Across all key valuation multiples, there is a consistent pattern of moderate growth in valuation from 2018 through 2019, a pronounced peak in 2020, and a subsequent reduction through 2021 into 2022. The 2020 peaks across ratios suggest a period of heightened investor optimism or potentially temporarily inflated market valuations relative to earnings, operating profit, sales, and book value. The gradual declines afterward may reflect adjustments to more sustainable valuation levels as market conditions evolved.
Price to Earnings (P/E)
Generac Holdings Inc., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net income attributable to Generac Holdings Inc. (in thousands) | ||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||
| Eaton Corp. plc | ||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2022 Calculation
EPS
= (Net income attributable to Generac Holdings Inc.Q2 2022
+ Net income attributable to Generac Holdings Inc.Q1 2022
+ Net income attributable to Generac Holdings Inc.Q4 2021
+ Net income attributable to Generac Holdings Inc.Q3 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Generac Holdings Inc. Quarterly or Annual Report.
4 Q2 2022 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in the company's share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over the observed period.
- Share Price
-
The share price demonstrated a general upward trajectory between March 2018 and December 2020, increasing from approximately $47 to over $330. This represents a significant appreciation in market value over this period. The price peaked in December 2020 at around $333 before experiencing volatility in 2021, with a peak at $452 in September 2021 followed by a sharp decline to approximately $282 in December 2021. In the first two quarters of 2022, the share price showed moderate recovery, rising from around $227 to $252.
- Earnings Per Share (EPS)
-
EPS steadily increased throughout the timeframe, starting at $2.91 in early 2018 and rising consistently to $8.53 by mid-2022. The growth in EPS reflects a sustained improvement in profitability over these quarters, without any periods of decline. The spike in EPS was particularly pronounced from 2019 onwards, indicating enhanced operational efficiency or revenue growth.
- P/E Ratio
-
The P/E ratio illustrated considerable volatility relative to the share price and EPS movements. Initially ranging between approximately 13.5 and 26.6 from 2018 through early 2020, the ratio sharply increased starting in mid-2020, reaching a peak of nearly 60 in December 2020. This suggests that market valuations became substantially more optimistic, potentially driven by growth expectations. Following this peak, the P/E ratio fluctuated between roughly 28 and 53 during 2021, indicating ongoing uncertainty or changing investor sentiment. In early 2022, the ratio decreased somewhat to a range between 28 and 30, which may reflect a market recalibration amid the declining and then stabilizing share price.
In summary, the company's profitability, as measured by EPS, showed strong and consistent growth over the period analyzed. The share price rose significantly but exhibited considerable volatility in the latter periods. The P/E ratio's sharp increase and subsequent fluctuations suggest that investor expectations shifted markedly during this time, potentially reflecting differing views on the sustainability of earnings growth and overall market conditions.
Price to Operating Profit (P/OP)
Generac Holdings Inc., historical P/OP calculation (quarterly data)
| 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Income from operations (in thousands) | ||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||
| Eaton Corp. plc | ||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2022 Calculation
Operating profit per share
= (Income from operationsQ2 2022
+ Income from operationsQ1 2022
+ Income from operationsQ4 2021
+ Income from operationsQ3 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Generac Holdings Inc. Quarterly or Annual Report.
4 Q2 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated an overall upward trend from March 2018 through June 2021, rising from $47.03 to a peak of $452.03. Notably, there was substantial growth between June 2020 ($164.57) and December 2020 ($333.04), indicating a period of accelerated investor confidence or positive market momentum. However, after the peak in December 2021 at $452.03, the share price experienced a pronounced decline, falling to $227.44 in June 2022 before showing a modest recovery to $252.06 at the end of the period analyzed in June 2022. This suggests increased volatility and potential market uncertainty in the most recent quarters.
- Operating Profit Per Share (OPSP)
- Operating profit per share showed a generally steady upward trajectory throughout the period, increasing from $4.45 in March 2018 to around $11.29 in June 2022. Incremental growth was consistent, with only slight fluctuations observed. The increase in OPSP reflects improving operational efficiency or profitability on a per-share basis. The relatively stable values from late 2020 through mid-2022 suggest that operational performance maintained a high level despite market volatility impacting the share price.
- Price to Operating Profit Ratio (P/OP)
- The price to operating profit ratio exhibited significant variation over time. Starting at approximately 10.57 in March 2018, the ratio rose steadily, peaking at an exceptionally high level of 43.7 in December 2020. This sharp rise indicates that the share price increased at a much faster rate than operating profit per share during this period, potentially reflecting heightened market expectations or speculative valuation. Following this peak, the ratio declined to around 21.14 by June 2022, implying a market correction where share price retracted relative to earnings. The fluctuations suggest changing investor sentiment and varying perceptions of the company's growth prospects over the analyzed quarters.
- Summary of Trends
- The data reflects a company experiencing strong profitability growth, as evidenced by the consistent rise in operating profit per share. Share price trends largely mirror this positive performance but exhibit greater volatility, especially beyond mid-2021, suggesting external factors or market dynamics influencing equity valuation. The oscillations in the price-to-operating-profit ratio underscore shifts in market sentiment, with periods of premium valuation followed by corrections. Overall, while operational performance steadily improved, the market valuation showed heightened volatility, pointing to fluctuating investor confidence or changing risk assessments in recent quarters.
Price to Sales (P/S)
Generac Holdings Inc., historical P/S calculation (quarterly data)
| 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net sales (in thousands) | ||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||
| Eaton Corp. plc | ||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2022 Calculation
Sales per share
= (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Generac Holdings Inc. Quarterly or Annual Report.
4 Q2 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly financial data over the observed periods reveals several notable trends in share price, sales per share, and the price-to-sales ratio (P/S) for the company.
- Share Price
- The share price demonstrated a general upward trajectory from March 2018 through December 2020, rising from $47.03 to a peak of $333.04. This period reflects strong investor confidence and possibly favorable company performance or market conditions. After reaching the peak in December 2020, the share price showed volatility, with significant fluctuations observed in 2021. The price peaked again in September 2021 at $452.03, followed by a substantial decline to $282.47 by December 2021. In the first two quarters of 2022, the share price continued to hover between approximately $227 and $252, indicating some stabilization but at levels lower than previous peaks.
- Sales per Share
- Sales per share exhibited a consistent and steady increase throughout the entire period, moving from $28.10 in March 2018 to $69.51 in June 2022. This upward trend indicates ongoing revenue growth and potentially enhanced operational efficiency or market expansion. The growth in sales per share is continuous and does not reflect any volatility, suggesting stable performance in the company's sales generation.
- Price-to-Sales (P/S) Ratio
- The P/S ratio initially showed moderate levels averaging between 1.6 to 3.05 from March 2018 until December 2019. From March 2020, the ratio increased sharply, reaching a peak of 8.42 in December 2020. This rise suggests that the market valuation was growing faster than sales, possibly driven by investor optimism or expectations of future growth. Following this peak, the P/S ratio remained high through September 2021 but then declined to 4.82 by December 2021 and further to values around 3.6 in the first half of 2022. This reduction in P/S ratio highlights a revaluation where share prices decreased more significantly than the sales figures, aligning with the observed decline in share price during this period. Despite this decrease, the ratio remained above earlier historical levels, reflecting sustained premium valuation relative to sales.
Overall, the data indicate robust sales growth accompanied by volatile market valuation as seen in share price and P/S ratio movements. The significant price increases and high P/S ratios during late 2020 and early 2021 suggest elevated market expectations, while subsequent declines in share price and P/S ratio imply a market correction or reassessment of growth prospects. The persistence of growing sales per share alongside share price fluctuations suggests the fundamental business operations performed steadily, even as market sentiment varied.
Price to Book Value (P/BV)
Generac Holdings Inc., historical P/BV calculation (quarterly data)
| 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Stockholders’ equity attributable to Generac Holdings Inc. (in thousands) | ||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||
| Eaton Corp. plc | ||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2022 Calculation
BVPS = Stockholders’ equity attributable to Generac Holdings Inc. ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Generac Holdings Inc. Quarterly or Annual Report.
4 Q2 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price experienced a generally upward trajectory from early 2018 through late 2021, increasing from $47.03 to a peak of $452.03 by September 2021. This signifies a strong growth phase over these years. However, after reaching this high, the price showed a significant decline to $282.47 by March 2022, before slightly recovering to $252.06 in June 2022. The marked rise followed by a sharp correction suggests a period of volatility and revaluation in the most recent quarters.
- Book Value per Share (BVPS) Trend
- The book value per share consistently increased over the entire period, starting at $9.20 in March 2018 and growing steadily to $37.90 by June 2022. This steady increase reflects a continual accumulation of net assets per share, indicating an improvement in the company's underlying equity value regardless of share price fluctuations.
- Price-to-Book Value (P/BV) Ratio Trend
- The price-to-book ratio showed considerable variation. Initially, it fluctuated between 4.25 and 6.50 from 2018 to early 2020, reflecting moderate market valuation relative to book value. Beginning in mid-2020, the ratio surged sharply, reaching a peak of 16.00 in September 2021. This indicates that market prices were significantly more demanding compared to the book value, likely driven by high investor expectations and strong share price growth. Following this peak, the ratio dropped notably to 6.29 by March 2022, aligning with the fall in the share price, and marginally increased to 6.65 by June 2022. This decline suggests a market reassessment or correction in the perceived premium over book value.
- Summary of Financial Insights
- The data illustrate a company experiencing robust growth in intrinsic value, as evidenced by the consistent rise in book value per share. Market valuation, as reflected by the share price and corresponding P/BV ratio, initially rewarded this growth with steep increases culminating in late 2021. However, the subsequent reduction in share price and P/BV ratio signals a phase of market correction or increased risk perception. Overall, the company’s fundamental equity strength improved steadily, whereas market sentiment demonstrated cycles of optimism and recalibration over the observed periods.