Price to Earnings (P/E)
since 2005
Calculation
Mosaic Co., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Earnings (loss) available for common stockholders1 (in thousands) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 23, 2022 | 10.21 | = | 45.20 | ÷ | 4.43 | 4.43 | = | 1,630,600 | ÷ | 368,309,275 | |
| Feb 22, 2021 | 16.90 | = | 29.70 | ÷ | 1.76 | 1.76 | = | 666,100 | ÷ | 379,093,342 | |
| Feb 20, 2020 | — | = | 18.47 | ÷ | -2.82 | -2.82 | = | -1,067,400 | ÷ | 378,764,442 | |
| Mar 13, 2019 | 23.58 | = | 28.75 | ÷ | 1.22 | 1.22 | = | 470,000 | ÷ | 385,470,499 | |
| Feb 21, 2018 | — | = | 27.46 | ÷ | -0.28 | -0.28 | = | -107,200 | ÷ | 385,226,223 | |
| Feb 15, 2017 | 39.73 | = | 33.78 | ÷ | 0.85 | 0.85 | = | 297,800 | ÷ | 350,238,549 | |
| Feb 19, 2016 | 8.60 | = | 24.40 | ÷ | 2.84 | 2.84 | = | 1,000,400 | ÷ | 352,516,131 | |
| Feb 17, 2015 | 18.50 | = | 52.01 | ÷ | 2.81 | 2.81 | = | 1,028,600 | ÷ | 365,844,029 | |
| Jul 17, 2013 | 12.24 | = | 54.27 | ÷ | 4.44 | 4.44 | = | 1,888,700 | ÷ | 425,821,044 | |
| Jul 17, 2012 | 12.83 | = | 58.21 | ÷ | 4.54 | 4.54 | = | 1,930,200 | ÷ | 425,480,205 | |
| Jul 19, 2011 | 12.16 | = | 68.49 | ÷ | 5.63 | 5.63 | = | 2,514,600 | ÷ | 446,584,930 | |
| Jul 23, 2010 | 25.21 | = | 46.80 | ÷ | 1.86 | 1.86 | = | 827,100 | ÷ | 445,486,732 | |
| Jul 24, 2009 | 10.11 | = | 53.45 | ÷ | 5.29 | 5.29 | = | 2,350,200 | ÷ | 444,543,109 | |
| Jul 29, 2008 | 26.08 | = | 122.36 | ÷ | 4.69 | 4.69 | = | 2,082,800 | ÷ | 443,982,336 | |
| Aug 9, 2007 | 39.44 | = | 37.51 | ÷ | 0.95 | 0.95 | = | 419,700 | ÷ | 441,322,712 | |
| Aug 11, 2006 | — | = | 15.36 | ÷ | -0.30 | -0.30 | = | -132,500 | ÷ | 437,310,048 | |
| Aug 5, 2005 | 41.43 | = | 17.30 | ÷ | 0.42 | 0.42 | = | 161,300 | ÷ | 386,252,742 |
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: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Mosaic Co. Annual Report.
The financial trajectory of Mosaic Co. between 2005 and 2022 is characterized by significant volatility in both share price and earnings per share (EPS), resulting in a highly inconsistent Price-to-Earnings (P/E) ratio. This volatility reflects a cyclical earnings pattern where periodic losses render the P/E ratio inapplicable, interspersed with periods of high valuation spikes and subsequent compression.
- P/E Ratio Volatility and Peaks
- The P/E ratio exhibited extreme fluctuations over the analyzed period. High valuation multiples were observed in 2005 (41.43), 2007 (39.44), and 2017 (39.73). The 2017 peak is particularly notable as it resulted from a sharp decline in EPS to 0.85 while the share price remained relatively resilient at 33.78, rather than a surge in market optimism.
- Earnings Cyclicality and Valuation Gaps
- A recurring pattern of negative earnings is evident, with EPS falling below zero in 2006, 2018, and 2020. During these intervals, the P/E ratio cannot be calculated, signaling periods of operational loss. The transition from a P/E of 39.73 in 2017 to a loss in 2018, followed by a recovery to 23.58 in 2019 and another loss in 2020, underscores the unstable nature of the company's bottom-line performance.
- Share Price and Earnings Correlation
- A significant divergence occurred in 2008, where the share price reached a peak of 122.36. Despite this price surge, the P/E ratio decreased to 26.08 from the 39.44 seen in 2007, indicating that the rapid growth in EPS to 4.69 partially offset the aggressive increase in share price. Conversely, between 2011 and 2013, the P/E ratio remained remarkably stable, hovering between 12.16 and 12.83, suggesting a period of valuation equilibrium.
- Recent Valuation Trends
- In the most recent data points from 2021 to 2022, a trend of valuation compression is observed. While the share price increased from 29.70 to 45.20, the P/E ratio dropped from 16.90 to 10.21. This decline was driven by a substantial increase in EPS, which rose from 1.76 to 4.43, indicating that earnings growth outpaced the increase in market price.
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Comparison to Competitors
Mosaic Co., P/E, long-term trends, comparison to competitors
| Mosaic Co. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Feb 23, 2022 | 10.21 | 38.92 | 37.32 |
| Feb 22, 2021 | 16.90 | 52.57 | 31.64 |
| Feb 20, 2020 | — | 46.22 | 34.31 |
| Mar 13, 2019 | 23.58 | 19.41 | 36.79 |
| Feb 21, 2018 | — | 34.48 | 21.12 |
| Feb 15, 2017 | 39.73 | 22.87 | 25.74 |
| Feb 19, 2016 | 8.60 | 18.76 | 22.74 |
| Feb 17, 2015 | 18.50 | 21.92 | 31.54 |
| Jul 17, 2013 | 12.24 | 21.31 | 26.50 |
| Jul 17, 2012 | 12.83 | 19.64 | 26.48 |
| Jul 19, 2011 | 12.16 | 19.45 | 23.80 |
| Jul 23, 2010 | 25.21 | 24.62 | 19.17 |
| Jul 24, 2009 | 10.11 | 18.56 | 16.18 |
| Jul 29, 2008 | 26.08 | 15.03 | 11.36 |
| Aug 9, 2007 | 39.44 | 22.42 | 10.62 |
| Aug 11, 2006 | — | 20.00 | 15.53 |
| Aug 5, 2005 | 41.43 | 24.39 | 12.72 |
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: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Sector (Chemicals)
Mosaic Co., P/E, long-term trends, comparison to sector (chemicals)
| Mosaic Co. | Chemicals | |
|---|---|---|
| Feb 23, 2022 | 10.21 | 38.39 |
| Feb 22, 2021 | 16.90 | 43.19 |
| Feb 20, 2020 | — | 41.42 |
| Mar 13, 2019 | 23.58 | 22.92 |
| Feb 21, 2018 | — | 26.64 |
| Feb 15, 2017 | 39.73 | 24.11 |
| Feb 19, 2016 | 8.60 | 20.37 |
| Feb 17, 2015 | 18.50 | 25.17 |
| Jul 17, 2013 | 12.24 | 22.86 |
| Jul 17, 2012 | 12.83 | 21.50 |
| Jul 19, 2011 | 12.16 | 20.36 |
| Jul 23, 2010 | 25.21 | 23.10 |
| Jul 24, 2009 | 10.11 | 17.95 |
| Jul 29, 2008 | 26.08 | 14.00 |
| Aug 9, 2007 | 39.44 | 18.37 |
| Aug 11, 2006 | — | 18.36 |
| Aug 5, 2005 | 41.43 | 19.84 |
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: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Industry (Materials)
Mosaic Co., P/E, long-term trends, comparison to industry (materials)
| Mosaic Co. | Materials | |
|---|---|---|
| Feb 23, 2022 | 10.21 | 28.21 |
| Feb 22, 2021 | 16.90 | 47.50 |
| Feb 20, 2020 | — | 49.13 |
| Mar 13, 2019 | 23.58 | 17.75 |
| Feb 21, 2018 | — | 22.15 |
| Feb 15, 2017 | 39.73 | — |
| Feb 19, 2016 | 8.60 | — |
| Feb 17, 2015 | 18.50 | 69.44 |
| Jul 17, 2013 | 12.24 | 17.83 |
| Jul 17, 2012 | 12.83 | 15.06 |
| Jul 19, 2011 | 12.16 | 12.60 |
| Jul 23, 2010 | 25.21 | 14.83 |
| Jul 24, 2009 | 10.11 | 14.87 |
| Jul 29, 2008 | 26.08 | — |
| Aug 9, 2007 | 39.44 | 15.68 |
| Aug 11, 2006 | — | 13.52 |
| Aug 5, 2005 | 41.43 | 15.84 |
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: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).