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).
Historical Valuation Ratios (Summary)
e.l.f. Beauty, Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
The financial ratios of e.l.f. Beauty, Inc. over multiple quarters exhibit notable fluctuations that reflect varying investor perceptions and company performance metrics across time. These ratios provide insights into valuation based on earnings, operating profits, sales, and book value.
- Price to Earnings (P/E) Ratio
- The P/E ratio shows significant volatility, peaking notably at 236.37 in March 2021. After this peak, there is a general downward trend with intermittent rises, reaching a low point of 44.49 in September 2023. Subsequently, the ratio increases again, climbing to 80.96 by March 2024 before slightly decreasing to 74.19 in June 2024. This pattern indicates fluctuating investor expectations about future earnings growth and varying confidence levels in profitability over the observed periods.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio mirrors the P/E ratio's pattern with an early peak at 156.71 in March 2021 followed by a decline to 40.94 in September 2023. Post the September 2023 trough, there's a moderate increase reaching 69.05 in March 2024 before marginally falling to 64.89 in June 2024. This suggests changing market perceptions about operating profit prospects with similar cyclical investor sentiment adjustments as indicated by the P/E ratio.
- Price to Sales (P/S) Ratio
- The P/S ratio generally trends upward with variations, starting at 3.62 in June 2020 and rising to a high of 10.78 in June 2023. However, after this peak, there's a noticeable decline to 7.07 in September 2023, then a rebound to levels around 10 in early 2024, settling at 8.01 in June 2024. The upward trend over most periods suggests increased valuation relative to sales, possibly reflecting revenue growth expectations or improved market positioning, though recent volatility indicates some investor caution.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio shows a consistent upward movement from 4.19 in June 2020 to a peak of 16.09 in March 2024, followed by a decrease to 12.89 in June 2024. This progression highlights growing investor valuation relative to the company's net asset value, indicating enhanced perceived intangible value or anticipated growth not fully captured by book value. The slight dip towards mid-2024 may reflect some reassessment of asset valuations or market conditions.
Overall, the valuation multiples convey a period of heightened optimism around early 2021, followed by normalization and stabilization with intermittent increases and decreases reflective of broader market dynamics and company-specific factors. The elevated P/S and P/BV ratios in the latter periods emphasize strong revenue and asset valuation expectations despite cooling in earnings and operating profit multiples. This mixture suggests that while profitability perceptions have fluctuated, the market maintains a favorable view of the company’s growth potential and intrinsic value.
Price to Earnings (P/E)
e.l.f. Beauty, Inc., historical P/E calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 56,388,228 | 55,939,080 | 55,506,934 | 55,199,220 | 54,457,319 | 53,867,072 | 53,294,702 | 52,938,112 | 52,424,445 | 52,272,764 | 52,120,683 | 52,031,436 | 51,826,156 | 51,649,915 | 51,240,997 | 51,033,310 | 50,721,893 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Net income (in thousands) | 47,555) | 14,527) | 26,888) | 33,271) | 52,977) | 16,246) | 19,105) | 11,710) | 14,469) | 1,556) | 6,214) | 5,724) | 8,276) | (24) | 4,297) | 447) | 1,512) | ||||||
| Earnings per share (EPS)2 | 2.17 | 2.28 | 2.33 | 2.20 | 1.84 | 1.14 | 0.88 | 0.64 | 0.53 | 0.42 | 0.39 | 0.35 | 0.25 | 0.12 | 0.12 | 0.19 | 0.31 | ||||||
| Share price1, 3 | 160.83 | 184.77 | 164.82 | 98.01 | 133.19 | 104.15 | 67.29 | 48.09 | 36.18 | 24.63 | 28.52 | 30.21 | 29.83 | 28.52 | 23.12 | 19.43 | 20.54 | ||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/E ratio4 | 74.19 | 80.96 | 70.71 | 44.49 | 72.50 | 91.18 | 76.56 | 74.99 | 67.83 | 59.14 | 73.62 | 86.02 | 118.96 | 236.37 | 200.29 | 103.07 | 66.40 | ||||||
| Benchmarks | |||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||
| Procter & Gamble Co. | 28.75 | 27.11 | 25.14 | 25.01 | 23.65 | 25.47 | 26.20 | 24.00 | 21.49 | 23.91 | 27.43 | 27.29 | 24.55 | 24.46 | 24.20 | 23.92 | 26.27 | ||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
EPS
= (Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024
+ Net incomeQ2 2024)
÷ No. shares of common stock outstanding
= (47,555,000 + 14,527,000 + 26,888,000 + 33,271,000)
÷ 56,388,228 = 2.17
3 Closing price as at the filing date of e.l.f. Beauty, Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/E ratio = Share price ÷ EPS
= 160.83 ÷ 2.17 = 74.19
5 Click competitor name to see calculations.
The financial data presents several notable trends over the observed periods.
- Share Price
- The share price shows a general upward trend from June 2020 through June 2024, starting at approximately $20.54 and reaching as high as about $184.77 in March 2024 before slightly decreasing to around $160.83 by June 2024. This indicates substantial appreciation over the four-year timeframe, with periods of accelerated growth particularly evident after mid-2021.
- Earnings Per Share (EPS)
- EPS demonstrates consistent growth across the periods. Initially low at $0.12 in late 2020, it climbs steadily to reach peaks above $2.30 by late 2023 and early 2024, peaking at $2.33 in December 2023 before marginal declines toward mid-2024. This continuous increase reflects improving profitability from the company's operations on a per-share basis.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio exhibits volatility over the analyzed quarters. Starting very high in 2020 with values exceeding 200, it declines sharply into 2021 stabilizing around the 60-90 range. Thereafter, it fluctuates mostly between low 40s and high 80s, settling around 74.19 by mid-2024. This suggests changing market valuation in relation to earnings growth, with earlier inflated multiples moderating as earnings improved substantially.
In summary, the data depicts a company experiencing strong earnings advancement paired with significant share price appreciation. The moderation of the P/E ratio over time suggests a market adjustment to the increased earnings, moving from an initially high valuation multiple toward a more sustainable ratio. The combination of rising EPS and relatively stable P/E ratios implies solid underlying financial performance supporting investor confidence.
Price to Operating Profit (P/OP)
e.l.f. Beauty, Inc., historical P/OP calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 56,388,228 | 55,939,080 | 55,506,934 | 55,199,220 | 54,457,319 | 53,867,072 | 53,294,702 | 52,938,112 | 52,424,445 | 52,272,764 | 52,120,683 | 52,031,436 | 51,826,156 | 51,649,915 | 51,240,997 | 51,033,310 | 50,721,893 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Operating income (in thousands) | 50,708) | 17,030) | 31,836) | 40,179) | 60,633) | 8,045) | 23,291) | 15,377) | 21,430) | 2,186) | 8,971) | 7,442) | 11,171) | (1,868) | 6,291) | 1,968) | 3,009) | ||||||
| Operating profit per share2 | 2.48 | 2.68 | 2.53 | 2.39 | 1.97 | 1.27 | 1.17 | 0.91 | 0.76 | 0.57 | 0.49 | 0.44 | 0.34 | 0.18 | 0.24 | 0.37 | 0.51 | ||||||
| Share price1, 3 | 160.83 | 184.77 | 164.82 | 98.01 | 133.19 | 104.15 | 67.29 | 48.09 | 36.18 | 24.63 | 28.52 | 30.21 | 29.83 | 28.52 | 23.12 | 19.43 | 20.54 | ||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/OP ratio4 | 64.89 | 69.05 | 65.03 | 40.94 | 67.57 | 82.33 | 57.58 | 53.08 | 47.38 | 43.25 | 57.80 | 68.24 | 88.03 | 156.71 | 96.25 | 52.47 | 40.02 | ||||||
| Benchmarks | |||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||
| Procter & Gamble Co. | 21.72 | 21.33 | 19.83 | 19.47 | 18.65 | 20.19 | 20.94 | 19.37 | 17.32 | 19.41 | 22.11 | 22.17 | 19.20 | 19.08 | 18.81 | 18.46 | 21.16 | ||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Operating profit per share
= (Operating incomeQ1 2025
+ Operating incomeQ4 2024
+ Operating incomeQ3 2024
+ Operating incomeQ2 2024)
÷ No. shares of common stock outstanding
= (50,708,000 + 17,030,000 + 31,836,000 + 40,179,000)
÷ 56,388,228 = 2.48
3 Closing price as at the filing date of e.l.f. Beauty, Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 160.83 ÷ 2.48 = 64.89
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends and patterns over the observed periods.
- Share Price
- The share price demonstrates a general upward trajectory from June 2020 to June 2024, increasing from $20.54 to $160.83. Initial fluctuations are observed in the early quarters, including a decline in late 2020 and early 2021, followed by a significant surge beginning mid-2021. The price peaks notably at $184.77 in March 2024 before a slight decline to $160.83 in the most recent quarter. This overall increase indicates growing market valuation and investor confidence over the timeframe.
- Operating Profit Per Share (OPPS)
- The operating profit per share steadily increases throughout the period. Starting at $0.51 in June 2020, it experiences minor volatility in the first year but maintains a strong upward momentum from mid-2021 onward, reaching $2.48 by June 2024. This trend suggests improving operational efficiency and profitability on a per-share basis over time.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio exhibits significant variability, reflecting changes in the share price relative to operating profit per share. Early values are relatively high, peaking at 156.71 in March 2021, indicating a potentially overvalued share price or lower operating profit at that time. Subsequent quarters show a decline and stabilization in the ratio, fluctuating mostly between 40 and 70. This pattern aligns with the rise in operating profit, which tempers the P/OP ratio despite share price volatility. The ratio's decline towards the later quarters suggests the share price increase is becoming more aligned with underlying earnings growth.
- Overall Insights
- The data exhibit a positive long-term trend in both share price and operating profitability, indicative of robust financial health and investor optimism. Volatility in the P/OP ratio underscores shifts in market perception and company performance balance but stabilizes as earnings growth strengthens. The increasing operating profit per share alongside a rising share price supports a narrative of sustainable business improvement and value creation.
Price to Sales (P/S)
e.l.f. Beauty, Inc., historical P/S calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 56,388,228 | 55,939,080 | 55,506,934 | 55,199,220 | 54,457,319 | 53,867,072 | 53,294,702 | 52,938,112 | 52,424,445 | 52,272,764 | 52,120,683 | 52,031,436 | 51,826,156 | 51,649,915 | 51,240,997 | 51,033,310 | 50,721,893 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Net sales (in thousands) | 324,477) | 321,143) | 270,943) | 215,507) | 216,339) | 187,357) | 146,537) | 122,349) | 122,601) | 105,135) | 98,118) | 91,855) | 97,047) | 92,671) | 88,562) | 72,350) | 64,527) | ||||||
| Sales per share2 | 20.08 | 18.30 | 16.04 | 13.87 | 12.35 | 10.75 | 9.32 | 8.47 | 7.97 | 7.50 | 7.28 | 7.11 | 6.77 | 6.16 | 5.86 | 5.73 | 5.67 | ||||||
| Share price1, 3 | 160.83 | 184.77 | 164.82 | 98.01 | 133.19 | 104.15 | 67.29 | 48.09 | 36.18 | 24.63 | 28.52 | 30.21 | 29.83 | 28.52 | 23.12 | 19.43 | 20.54 | ||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/S ratio4 | 8.01 | 10.09 | 10.28 | 7.07 | 10.78 | 9.69 | 7.22 | 5.68 | 4.54 | 3.28 | 3.91 | 4.25 | 4.41 | 4.63 | 3.95 | 3.39 | 3.62 | ||||||
| Benchmarks | |||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||
| Procter & Gamble Co. | 4.81 | 4.71 | 4.44 | 4.32 | 4.25 | 4.46 | 4.54 | 4.19 | 3.82 | 4.31 | 4.93 | 4.96 | 4.41 | 4.51 | 4.50 | 4.39 | 4.88 | ||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
Sales per share
= (Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024
+ Net salesQ2 2024)
÷ No. shares of common stock outstanding
= (324,477,000 + 321,143,000 + 270,943,000 + 215,507,000)
÷ 56,388,228 = 20.08
3 Closing price as at the filing date of e.l.f. Beauty, Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 160.83 ÷ 20.08 = 8.01
5 Click competitor name to see calculations.
The share price demonstrates notable volatility alongside a pronounced upward trajectory over the observed periods. Initially fluctuating mildly between approximately $19 and $30 through early 2022, the share price then exhibits substantial appreciation from mid-2022 onward, reaching a peak near $184 in March 2024 before slightly retreating to around $161 by June 2024.
Sales per share show a consistent and steady growth throughout the entire duration. Beginning at $5.67 in mid-2020, this metric incrementally increases each quarter without decline, culminating in a value slightly above $20 by the middle of 2024. This indicates sustained revenue growth relative to the share count.
The price-to-sales ratio (P/S) presents a more complex pattern, reflecting market valuation relative to sales performance. Initially, the P/S ratio ranges between approximately 3.3 and 4.6 in 2020 and early 2021, suggesting moderate valuation levels. It then declines slightly toward early 2022 but subsequently experiences a sharp rise from mid-2022, peaking near 10.78 in early 2023. Although some fluctuations occur thereafter, the ratio remains elevated relative to earlier periods, stabilizing above 8 by mid-2024.
- Share Price
- Steady to moderate fluctuations until early 2022, followed by rapid appreciation and heightened volatility, peaking in early 2024.
- Sales per Share
- Consistent quarter-over-quarter growth with no regression, nearly quadrupling over the observed timeline.
- Price-to-Sales Ratio (P/S)
- Moderate and relatively stable early periods; significant increase beginning mid-2022, suggestive of rising market optimism or premium valuation relative to sales.
Overall, the data suggest that the market's valuation of the company has increased disproportionately relative to its sales growth in recent periods. While sales per share continue on a strong upward momentum, the elevated P/S ratios imply heightened investor expectations or a re-rating of the company’s growth prospects starting in mid-2022.
Price to Book Value (P/BV)
e.l.f. Beauty, Inc., historical P/BV calculation (quarterly data)
| Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 56,388,228 | 55,939,080 | 55,506,934 | 55,199,220 | 54,457,319 | 53,867,072 | 53,294,702 | 52,938,112 | 52,424,445 | 52,272,764 | 52,120,683 | 52,031,436 | 51,826,156 | 51,649,915 | 51,240,997 | 51,033,310 | 50,721,893 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||
| Stockholders’ equity (in thousands) | 703,590) | 642,572) | 614,224) | 516,428) | 471,702) | 411,017) | 385,304) | 356,960) | 333,449) | 312,429) | 305,468) | 294,093) | 282,622) | 269,646) | 264,602) | 254,653) | 248,708) | ||||||
| Book value per share (BVPS)2 | 12.48 | 11.49 | 11.07 | 9.36 | 8.66 | 7.63 | 7.23 | 6.74 | 6.36 | 5.98 | 5.86 | 5.65 | 5.45 | 5.22 | 5.16 | 4.99 | 4.90 | ||||||
| Share price1, 3 | 160.83 | 184.77 | 164.82 | 98.01 | 133.19 | 104.15 | 67.29 | 48.09 | 36.18 | 24.63 | 28.52 | 30.21 | 29.83 | 28.52 | 23.12 | 19.43 | 20.54 | ||||||
| Valuation Ratio | |||||||||||||||||||||||
| P/BV ratio4 | 12.89 | 16.09 | 14.89 | 10.48 | 15.38 | 13.65 | 9.31 | 7.13 | 5.69 | 4.12 | 4.87 | 5.34 | 5.47 | 5.46 | 4.48 | 3.89 | 4.19 | ||||||
| Benchmarks | |||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||
| Procter & Gamble Co. | 7.78 | 7.87 | 7.46 | 7.47 | 7.41 | 7.83 | 8.15 | 7.56 | 6.97 | 7.42 | 8.63 | 8.70 | 7.38 | 7.40 | 7.24 | 6.74 | 7.33 | ||||||
Based on: 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Data adjusted for splits and stock dividends.
2 Q1 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 703,590,000 ÷ 56,388,228 = 12.48
3 Closing price as at the filing date of e.l.f. Beauty, Inc. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 160.83 ÷ 12.48 = 12.89
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited a generally upward trend over the analyzed periods. Starting from $20.54 at mid-2020, it experienced some volatility early on but began a significant rise from mid-2021 onwards. Notable surges occurred especially between mid-2022 and the first quarter of 2023, reaching peaks above $100. Despite some fluctuations afterwards, prices remained elevated, hitting a high of $184.77 in mid-2024 before settling slightly lower towards the end of the period.
- Book Value Per Share (BVPS) Trend
- The book value per share showed a steady and consistent increase across all periods. Beginning at $4.90 in mid-2020, it rose incrementally each quarter without notable dips, reaching $12.48 by mid-2024. This indicates continuous growth in the company's net asset value on a per-share basis.
- Price-to-Book Value (P/BV) Ratio Trend
- The P/BV ratio varied considerably throughout the periods, showing phases of both relative stability and sharp increases. Initially fluctuating around 4.0 to 5.5, the ratio spiked notably after mid-2021, reaching double-digit levels in several quarters. The peak P/BV occurred around early 2023 at 16.09, suggesting that the market price was trading at a significant premium relative to book value. This elevated ratio persisted with some fluctuation, ending at a somewhat lower but still high level of 12.89.
- Insights
- The data suggests that while the company's fundamental book value per share grew steadily, market enthusiasm, reflected in the share price and P/BV ratio, increased more rapidly especially from mid-2021 onwards. High P/BV ratios indicate strong investor confidence and possibly expectations of future growth exceeding the current book value. However, the elevated multiples also imply higher market valuation risk should growth expectations not be met. The correlation between rising share price and P/BV ratio underscores the market's bullish sentiment despite steadier underlying book value growth.