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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
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Historical Valuation Ratios (Summary)
Parker-Hannifin Corp., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio demonstrates a fluctuating trend from 2016 through 2022. Initially absent for several periods, it appears at 21.29 in March 2017 and experiences moderate increases and decreases, peaking around 26.58 in June 2017. Following this peak, the ratio declines to approximately 13.42 by March 2019, indicating a period of reduced valuation relative to earnings. Subsequently, the ratio resumes an upward trajectory, reaching its highest levels toward the end of the data span, with values surpassing 30 by December 2022. This suggests an increased market valuation relative to earnings in the most recent periods.
- Price to Operating Profit (P/OP) Ratio
- The Price to Operating Profit ratio shows a generally downward trend from March 2017 to December 2018, moving from around 15.1 to approximately 9.79, denoting improving operating profit relative to price. After this low point, the ratio escalates considerably, peaking above 19 in June 2021. Following this peak, the ratio declines steadily, ending at 16.27 in December 2022. This indicates variability in operating profit valuation, with a notable increase through early 2021 followed by a moderate decline.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio exhibits a consistent upward trend throughout the evaluated periods. From an initial value near 1.74 in March 2017, the ratio rises steadily, accelerating after 2019 to surpass 3.0 by June 2021. Thereafter, it retreats slightly but remains above 2.5 through the end of 2022. This pattern reflects increasing market valuation relative to sales over time, especially notable in the years following 2019.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio fluctuates within a relatively narrow range between about 3.12 and 5.52 across the assessed quarters. Early observations show moderate values around 3.5 to 4.5, with a notable dip to 3.12 by March 2020. Subsequently, the ratio climbs, reaching a peak near 5.52 by June 2021, signifying heightened valuation relative to book value during that period. The latter part of the period sees some decline and stabilization around 4.5 to 4.8 by December 2022. Overall, the ratio indicates steady market appraisal in relation to the company's net asset value, with cyclical variations over time.
Price to Earnings (P/E)
Parker-Hannifin Corp., historical P/E calculation (quarterly data)
| Dec 31, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Net income attributable to common shareholders (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: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
EPS
= (Net income attributable to common shareholdersQ2 2023
+ Net income attributable to common shareholdersQ1 2023
+ Net income attributable to common shareholdersQ4 2022
+ Net income attributable to common shareholdersQ3 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Parker-Hannifin Corp. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the financial metrics over the specified periods reveals several notable trends and developments.
- Share Price
- The share price exhibited considerable fluctuations with an overall upward trend from 2016 through to the end of 2022. Initially, it increased from $121.18 in September 2016 to a peak near $184.87 in September 2017. Following this peak, the share price experienced some volatility but generally trended upwards, especially notable from 2020 onwards where the price rose from approximately $153.36 in March 2020 to a high of $349.02 in December 2022. The data reflects periods of both sharp increases and slight declines, indicating fluctuating investor sentiment and market conditions impacting valuation.
- Earnings Per Share (EPS)
- EPS data becomes available starting from June 2017 and shows an overall growth trend through the periods analyzed, albeit with some fluctuations. Starting at $7.39 in June 2017, EPS rose consistently to reach a high of $14.60 in December 2021 before experiencing a decline to approximately $9.75 by December 2022. The EPS growth from 2017 to 2021 suggests improving profitability during this timeframe, whereas the decline toward the end of 2022 may indicate challenges in maintaining earnings momentum.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio presented significant variability. It started at 21.29 in June 2017, fluctuating between the mid-teens and mid-twenties for several quarters. Notable is the decline to around 13.42 in March 2019, suggesting either a temporary uplift in earnings relative to share price or market undervaluation. From 2019 onward, the ratio generally trended upward, reaching its highest level of 35.53 in December 2022. This rising P/E ratio towards the end of the period indicates increasing investor expectations of future growth despite the recent decline in EPS, which may imply price valuation stretching or market optimism prevailing over short-term earnings dips.
In summary, the share price exhibited sustained growth with periodic volatility, EPS showed a general increase up to late 2021 followed by a decline, and the P/E ratio fluctuated with an upward trajectory culminating in elevated valuation multiples by the end of 2022. These patterns suggest a complex interplay of market dynamics, earnings performance, and investor expectations throughout the periods analyzed.
Price to Operating Profit (P/OP)
Parker-Hannifin Corp., historical P/OP calculation (quarterly data)
| Dec 31, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Operating income (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: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
Operating profit per share
= (Operating incomeQ2 2023
+ Operating incomeQ1 2023
+ Operating incomeQ4 2022
+ Operating incomeQ3 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Parker-Hannifin Corp. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The analysis of the financial data over the given periods reveals distinct patterns in the share price, operating profit per share, and the price-to-operating profit (P/OP) ratio.
- Share Price Trend
- The share price exhibited considerable volatility between September 2016 and December 2022. Initially, the price climbed from $121.18 to a peak of $210.44 by December 2019, indicating a strong upward trajectory. This was followed by a sharp decline to approximately $153.36 in March 2020, likely reflecting external market or economic disruptions. Subsequently, a recovery and a robust increase ensued, peaking again at $349.02 in December 2022, highlighting overall growth and strong investor confidence over the longer term.
- Operating Profit per Share
- Operating profit per share was not reported until June 2017 but showed a consistent upward movement from $10.41 at that time to a high of $22.17 by September 2022. Minor fluctuations exist, with slight declines observed around December 2019 to September 2020, likely correlating with market or business operational challenges. However, the overall trend signifies consistent improvement in operational efficiency and profitability on a per-share basis over the analyzed period.
- Price-to-Operating Profit (P/OP) Ratio
- The P/OP ratio demonstrated a mixed pattern. Upon commencement of reporting, the ratio was 15.1 in June 2017, decreased steadily to a low near 9.79 by March 2019, suggesting the share price was relatively undervalued compared to operating profits during that phase. Post-March 2019, the ratio increased, peaking at around 19.36 in June 2021, indicating heightened valuation relative to operating profit at that time. Following this peak, the ratio showed a decline to 12.87 in September 2022, but rose again to 16.27 in December 2022. Overall, this volatility in ratio reflects changing market perceptions of the company's profitability and growth prospects.
In summary, the company experienced a general increase in operating efficiency and profit generation per share, alongside a volatile but generally upward trending share price. The variations in the P/OP ratio indicate shifts in investor valuation relative to profitability, which could be influenced by external market factors and changes in business outlook during the observed timeline.
Price to Sales (P/S)
Parker-Hannifin Corp., historical P/S calculation (quarterly data)
| Dec 31, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
Sales per share
= (Net salesQ2 2023
+ Net salesQ1 2023
+ Net salesQ4 2022
+ Net salesQ3 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Parker-Hannifin Corp. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The share price demonstrates notable fluctuations over the observed periods. Initially, it rises steadily from 121.18 US$ in September 2016 to a peak around 210.44 US$ in December 2019. This is followed by a sharp decline in March 2020, dropping to 153.36 US$, likely reflecting adverse market conditions. Subsequently, the price exhibits a strong recovery and growth trend, reaching a high of 349.02 US$ by December 2022, indicating robust investor confidence and possibly improved company performance.
Sales per share data begin from June 2017 and show a generally consistent upward trajectory. Starting at 90.36 US$, sales per share increase gradually, with minor fluctuations, reaching 133.95 US$ by December 2022. This steady growth suggests persistent improvement in revenue generation capabilities on a per-share basis.
The Price-to-Sales (P/S) ratio also reveals dynamic changes across the reported periods. The ratio starts at 1.74 in June 2017, experiencing some oscillations with peaks at 1.95 in December 2017 and again at 1.9 in December 2019. Following a dip to 1.38 in March 2020, the ratio climbs sharply, peaking at 3.01 in June 2021. Thereafter, it declines somewhat but remains above 2.0, ending at 2.61 in December 2022. This pattern indicates varying investor valuation multiples relative to sales, with a considerable expansion post-March 2020, reflecting possibly higher market optimism or valuation recalibrations despite comparatively stable sales growth.
- Share Price Trends
- Overall growth with short-term volatility; a significant dip in early 2020 followed by strong recovery and new highs by the end of 2022.
- Sales per Share Trends
- Consistent upward trend with gradual increases, suggesting steady revenue enhancement at the shareholder level.
- Price-to-Sales Ratio (P/S) Analysis
- Fluctuating but generally increasing over time; marked expansion in valuation multiples observed post-Q1 2020, implying increased market valuation relative to sales.
In summary, while sales per share grew steadily, the share price and P/S ratio experienced more pronounced variability influenced by external market factors. The substantial increase in the P/S ratio after the early 2020 trough indicates a significant shift in market valuation and investor sentiment, resulting in elevated price levels relative to sales. This suggests that the market might be pricing in expectations of future growth beyond current sales performance.
Price to Book Value (P/BV)
Parker-Hannifin Corp., historical P/BV calculation (quarterly data)
| Dec 31, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Shareholders’ equity (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: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
BVPS = Shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Parker-Hannifin Corp. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the quarterly data reveals several notable trends in the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the observed period.
- Share Price
- The share price exhibits a general upward trajectory from late 2016 through 2022, with fluctuations consistent with market dynamics. Beginning at approximately 121.18 US$ in September 2016, the price rises steadily with occasional dips, reaching a peak around 349.02 US$ by the end of 2022. Noteworthy periods include a decline in early 2020, coinciding with broader market disturbances, followed by a robust recovery and growth phase that extends into 2022.
- Book Value Per Share (BVPS)
- The BVPS shows a gradual and consistent increase over the entire timeframe. Starting from 34.84 US$ per share in September 2016, there is a steady upward movement with minor fluctuations, achieving approximately 72.68 US$ by December 2022. This reflects an overall strengthening of the company’s net asset base as measured on a per-share basis, indicating a stable and improving financial foundation.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio presents a more variable pattern around an increasing trend. It starts at 3.48 in September 2016, peaks intermittently at values above 5.0 in early 2021, and concludes near 4.8 in December 2022. The initial increase reflects a rising market valuation relative to book value, potentially driven by investor optimism or improving profitability. The peaks and subsequent moderate declines suggest periods of market adjustment or reevaluation of growth prospects.
Overall, the data depict a company experiencing sustained growth in intrinsic value as evidenced by the rising BVPS. The share price appreciates accordingly, albeit with typical market-induced volatilities. The P/BV ratio’s fluctuations highlight changing market sentiment toward the company’s book value, with the elevated ratios in 2021 indicating heightened valuation expectations during that period.