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)
Mosaic Co., 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
The analysis of the quarterly financial ratios reveals several noteworthy trends over the reported periods.
- Price to Earnings (P/E) Ratio
- The P/E ratio shows variability with notable peaks and declines. Initially, data is missing before the period starting March 31, 2019, where the ratio is 23.58, followed by a decrease to 16.06 and then a sharp increase to 33 by September 30, 2019. After this spike, there is missing data until March 31, 2021, from which point a consistent downward trend is seen, declining from 16.9 to 5.54 by June 30, 2022. This trend may indicate improving earnings relative to stock price or market undervaluation in the later periods.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio was first reported on March 31, 2017, at 22.71 and showed a gradual decline through December 31, 2019, reaching a low of 6.74 in June 30, 2022. A notable volatility occurred around December 31, 2019, where the ratio jumped to 22.92 before stabilizing into a general downward trend. The overall decline suggests either increasing operating profits relative to share price or a market adjustment reflecting operational performance gains over time.
- Price to Sales (P/S) Ratio
- The P/S ratio exhibits a declining pattern from March 31, 2017, starting at 1.43, to a low point of 0.51 by June 30, 2020. Thereafter, it rebounds to 1.76 by June 30, 2022. This pattern implies a contraction in price relative to sales initially, potentially due to market skepticism or lower sales valuations, followed by recovery and increased market confidence in company sales performance.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio begins at 0.86 on March 31, 2017, falling to a trough at 0.53 by March 31, 2020. From this low point, the ratio climbs steadily to 2.11 by June 30, 2022. This sustained increase suggests enhanced investor confidence in the company's net asset value or potentially improved asset quality and valuation over the period examined.
In summary, the financial ratios indicate a period of initial market uncertainty or devaluation across multiple metrics up to early 2020, followed by a pronounced recovery and improved valuation metrics through mid-2022. The reductions in P/E and P/OP ratios combined with rising P/BV and fluctuating P/S ratios point towards enhanced profitability, operational efficiency, and investor confidence in the company’s underlying assets and sales performance over time.
Price to Earnings (P/E)
Mosaic Co., 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net earnings (loss) attributable to Mosaic (in thousands) | |||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Linde plc | |||||||||||||||||||||||||||||
| Sherwin-Williams Co. | |||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2022 Calculation
EPS
= (Net earnings (loss) attributable to MosaicQ2 2022
+ Net earnings (loss) attributable to MosaicQ1 2022
+ Net earnings (loss) attributable to MosaicQ4 2021
+ Net earnings (loss) attributable to MosaicQ3 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Mosaic Co. Quarterly or Annual Report.
4 Q2 2022 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share price trend
- The share price exhibited moderate fluctuations from March 2017 to December 2018, ranging between $22 and $36. It declined sharply starting March 2019, reaching a low point around $11.78 in March 2020. Subsequently, the share price demonstrated a significant recovery and upward momentum throughout 2020 and into 2022, peaking at $67.83 in March 2022 before a slight dip to $52.22 in June 2022.
- Earnings per share (EPS) trend
- EPS data is missing for the first several quarters but becomes available starting in December 2017. Initially, EPS was negative, reflecting losses ranging approximately from -$0.19 to -$0.28. Beginning in March 2018, EPS turned positive, climbing steadily to $1.45 in June 2019, before falling sharply back into negative territory in late 2019 and through much of 2020, with the lowest value around -$3.7 in June 2020. Starting in late 2020, EPS showed a strong improvement, rising consistently to reach $9.43 by June 2022, indicating a marked recovery in profitability.
- Price-to-Earnings (P/E) ratio trend
- P/E ratio data is sparse but available from March 2019 onward. The P/E ratio was quite elevated in early 2019, peaking at 33 and showing significant volatility with values dropping and rising between 7.95 and 23.58. From mid-2020 to mid-2022, the P/E ratio generally decreased, fluctuating around a lower range from about 5.54 to 16.9, which aligns with the period of strong EPS growth and share price appreciation. This suggests increasing investor confidence and a potentially more attractive valuation relative to earnings during this recovery phase.
- Overall insights
- The company experienced a challenging period from 2017 through mid-2020 with negative or volatile earnings and declining share prices. Starting in late 2020, improvements in earnings were accompanied by a substantial rise in share price, indicating recovery and growth expectations. The declining P/E ratio in this timeframe implies that the market's valuation became more favorable relative to earnings, reflecting improved operational performance and market sentiment.
Price to Operating Profit (P/OP)
Mosaic Co., historical P/OP calculation (quarterly data)
| Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Operating earnings (loss) (in thousands) | |||||||||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Linde plc | |||||||||||||||||||||||||||||
| Sherwin-Williams Co. | |||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2022 Calculation
Operating profit per share
= (Operating earnings (loss)Q2 2022
+ Operating earnings (loss)Q1 2022
+ Operating earnings (loss)Q4 2021
+ Operating earnings (loss)Q3 2021)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Mosaic Co. Quarterly or Annual Report.
4 Q2 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The share price exhibits notable fluctuations over the observed periods, with an overall upward trend marked by intermittent declines. Initially, from March 2017 to December 2017, the share price showed moderate volatility, peaking at $27.46 by the year's end. The first half of 2018 saw a continued increase, reaching a high of $35.64 in September, followed by a decline to $28.75 in December 2018. Throughout 2019, the share price steadily declined, reaching a low point at $18.47 by year-end. The first half of 2020 witnessed further decreases, dropping to $11.78 in March. However, from mid-2020 onwards, a marked recovery and substantial growth occurred, culminating in the highest price recorded at $67.83 in March 2022 before a slight decrease to $52.22 in June 2022.
Operating profit per share (OPPS) data, available from March 2018, shows an initial growth trend from 1.21 US$ to 2.41 US$ by March 2019, indicating improving profitability in this period. Subsequently, there was a significant decline in profitability during late 2019 and early 2020, with OPPS turning negative and hitting a low of -3.6 US$ in June 2020. From the second half of 2020, a recovery trend in OPPS emerged, turning positive again and demonstrating consistent growth to reach 13.33 US$ by June 2022. This pattern suggests a period of financial challenge followed by a strong turnaround in operational performance.
The price-to-operating profit (P/OP) ratio follows a variable pattern that partially reflects the share price and profitability trends. Ratios initially hovered between 22.71 and 17.23 in early 2018, decreased to a low of 8.54 by March 2019, then increased sharply to 22.92 at the end of 2019, coinciding with declining operational profits and falling share prices. Data for 2020 is missing, preventing analysis for this year. However, from 2021 onwards, the P/OP ratio generally decreased from 27.27 to 3.92 by June 2022, consistent with rising earnings outpacing share price growth, indicating improving valuation metrics and a potentially more attractive investment position.
In summary, the data indicates an initial period of growth in share price and operating profit, followed by a financial downturn around 2019–2020, with operating profit turns negative and share price declines. Post mid-2020, recovery is evident with strong positive trends in both profitability and share price, supported by improving valuation ratios. This pattern suggests resilience and effective management responses leading to restored financial health and market confidence in the recent periods.
Price to Sales (P/S)
Mosaic Co., 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |||||||||||||||||||||||||||||
| Linde plc | |||||||||||||||||||||||||||||
| Sherwin-Williams Co. | |||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
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 Mosaic Co. Quarterly or Annual Report.
4 Q2 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trends
- Over the observed periods, the share price exhibited significant fluctuations. Initially, from March 2017 through December 2017, the price showed a modest increase from approximately $23.63 to $27.46, reaching a peak in late 2018 at around $35.64 before declining steadily to a low near $11.78 in March 2020. Post this decline, the share price recovered markedly, rising sharply to $67.83 by March 2022, though with some volatility, such as a dip to $52.22 in June 2022.
- Sales Per Share Development
- Sales per share data was not available for early periods but from March 2018 onwards, it demonstrated a steady upward trend. Starting at $19.23, sales per share increased consistently, reaching $47.95 by June 2022. This trend indicates growing sales or revenue generation on a per-share basis, with no evident decline periods during the reported range.
- Price-to-Sales (P/S) Ratio Movements
- The P/S ratio showed variability throughout the intervals. It started near 1.43 in early 2018, decreasing gradually through 2019 and reaching a low of 0.51 in March 2020. This decline coincided with the drop in share price and relatively stable sales per share. Following the low point, the P/S ratio recovered and peaked at 1.76 in March 2022, before falling again to 1.09 in June 2022. These movements suggest fluctuations in market valuation relative to sales, with undervaluation around early 2020 and a later phase of higher valuation relative to sales.
- Summary Insights
- The financial data reflects a company experiencing volatility in market price predominantly driven by external or market forces, given steady growth in sales per share. The sharp share price decline around early 2020 aligns with a broader market downturn or sector-specific challenges, followed by a significant recovery to new highs. Sales per share increases indicate strong operational performance or improving revenue relative to share count. The P/S ratio movements suggest that investor sentiment and valuation metrics fluctuated more than underlying sales performance, indicating periods of market over- and undervaluation.
Price to Book Value (P/BV)
Mosaic Co., 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 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Total Mosaic stockholders’ equity (in thousands) | |||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Linde plc | |||||||||||||||||||||||||||||
| Sherwin-Williams Co. | |||||||||||||||||||||||||||||
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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2022 Calculation
BVPS = Total Mosaic stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Mosaic Co. 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 exhibited notable fluctuations over the analyzed period. Initially, from Q1 2017 to Q4 2017, it rose from $23.63 to $27.46, peaking in December 2017. Following this, it experienced a general decline through most of 2018 and 2019, reaching a low of $11.78 in Q1 2020. Subsequently, a recovery occurred starting mid-2020, with a significant upward trajectory that culminated in a peak of $67.83 by mid-2022 before settling somewhat at $52.22 in Q2 2022.
- Book Value Per Share (BVPS) Trend
- BVPS showed relative stability compared to share price movements. It ranged from a low of approximately $22.13 in Q1 2020 to a high near $34.04 in Q2 2022. The metric displayed slight declines during 2017 and early 2020 but generally increased from late 2020 onward, reflecting incremental accumulation of net asset value per share over time without drastic volatility.
- Price-to-Book Value Ratio (P/BV) Analysis
- The P/BV ratio demonstrated considerable variability, mirroring the share price changes relative to book value. The ratio stayed mostly below 1.0 until late 2017, indicating market valuation at or below book value. It climbed above 1.0 beginning mid-2018 and fluctuated between 1.0 and 1.37 during 2021. The ratio reached a peak of 2.11 in Q1 2022, reflecting a strong market premium relative to book value during this period, before receding to 1.53 by Q2 2022.
- Summary Insights
- The share price and P/BV ratio reflect a cyclical pattern with a significant dip during early 2020, likely affected by external market conditions, followed by a robust recovery and growth phase extending through 2021 into mid-2022. Meanwhile, the steady increase in BVPS suggests ongoing strengthening of the company's intrinsic value despite share price volatility. The elevated P/BV ratios in recent periods imply heightened investor confidence or market optimism relative to the underlying book value.