Common Stock Valuation Ratios (Price Multiples)
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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Hubbell Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Current Valuation Ratios
Hubbell Inc., current price multiples
| Hubbell Inc. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | Capital Goods | Industrials | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||
| Current share price (P) | |||||||||||||
| No. shares of common stock outstanding | |||||||||||||
| Growth rate (g) | |||||||||||||
| Earnings per share (EPS) | |||||||||||||
| Next year expected EPS | |||||||||||||
| Operating profit per share | |||||||||||||
| Sales per share | |||||||||||||
| Book value per share (BVPS) | |||||||||||||
| Valuation Ratios (Price Multiples) | |||||||||||||
| Price to earnings (P/E) | |||||||||||||
| Price to next year expected earnings | |||||||||||||
| Price-earnings-growth (PEG) | |||||||||||||
| Price to operating profit (P/OP) | |||||||||||||
| Price to sales (P/S) | |||||||||||||
| Price to book value (P/BV) | |||||||||||||
Based on: 10-K (reporting date: 2022-12-31).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Hubbell Inc., historical price multiples
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Price to earnings (P/E) | ||||||
| Price to operating profit (P/OP) | ||||||
| Price to sales (P/S) | ||||||
| Price to book value (P/BV) |
Based on: 10-K (reporting date: 2022-12-31), 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).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio demonstrated an overall upward trend from 2018 to 2020, increasing from 17.98 to 25.41, indicating rising market expectations of future earnings or a higher valuation. In the following years, 2021 and 2022, this ratio slightly declined to 24.97 and 23.63 respectively, suggesting a modest reduction in investor optimism or earnings adjustments after the peak in 2020.
- Price to Operating Profit (P/OP) Ratio
- This ratio consistently increased over the five-year period, moving from 11.63 in 2018 to 18.74 in 2021, with a minor decrease to 18.19 in 2022. The continuous rise until 2021 reflects increasing valuation relative to operating profits, potentially due to improving operating profitability or market re-rating. The slight dip in 2022 may suggest stabilization or minor corrections in market valuation relative to operating profit.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio showed steady growth each year, ascending from 1.45 in 2018 to 2.61 in 2022. This consistent increase indicates an expanding valuation in relation to sales, possibly driven by revenue growth, improved sales quality, or heightened investor confidence in future sales performance.
- Price to Book Value (P/BV) Ratio
- Among all metrics, Price to Book Value exhibited the most significant rising trend, growing from 3.64 in 2018 to 5.46 in 2022. The continuous and relatively sharp increase suggests that market value increasingly exceeded net asset value, which could be attributed to strong intangible asset value, robust growth expectations, or market perception of increased intrinsic value of the company’s assets.
Price to Earnings (P/E)
Hubbell Inc., historical P/E calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Net income attributable to Hubbell Incorporated (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. | ||||||
| P/E Ratio, Sector | ||||||
| Capital Goods | ||||||
| P/E Ratio, Industry | ||||||
| Industrials | ||||||
Based on: 10-K (reporting date: 2022-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 2022 Calculation
EPS = Net income attributable to Hubbell Incorporated ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Hubbell Inc. Annual Report.
4 2022 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited a consistent upward trend over the five-year period. Starting at $118.61 in 2018, it increased steadily each year, reaching $240.62 by the end of 2022, more than doubling in value. This indicates strong market confidence and positive investor sentiment towards the company.
- Earnings per Share (EPS)
- EPS displayed some fluctuations but generally showed an upward trajectory after 2020. It began at $6.60 in 2018, rose to $7.36 in 2019, dipped to $6.47 in 2020, then recovered to $7.34 in 2021, and significantly increased to $10.18 in 2022. The decline in 2020 may reflect operational challenges during that year, while the sharp rise in 2022 suggests improved profitability.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio increased from 17.98 in 2018 to a peak of 25.41 in 2020, indicating heightened investor expectations despite the dip in EPS that year. It slightly declined to 24.97 in 2021 and further to 23.63 in 2022. Despite the decrease in 2022, the ratio remains elevated compared to 2018, implying sustained confidence in the company’s earnings growth potential.
Price to Operating Profit (P/OP)
Hubbell Inc., historical P/OP calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| 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. | ||||||
| P/OP Ratio, Sector | ||||||
| Capital Goods | ||||||
| P/OP Ratio, Industry | ||||||
| Industrials | ||||||
Based on: 10-K (reporting date: 2022-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 2022 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Hubbell Inc. Annual Report.
4 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited a consistent upward trend over the five-year period. Starting from $118.61 at the end of 2018, it increased steadily each year, reaching $240.62 by the end of 2022. This represents a significant appreciation in market value, more than doubling in this timeframe.
- Operating Profit per Share
- Operating profit per share showed some fluctuation during the period. It increased from $10.20 at the end of 2018 to $10.96 in 2019, then declined to $9.82 in 2020 and slightly further to $9.78 in 2021. However, there was a notable recovery in 2022, with operating profit per share rising to $13.23, indicating improved operational efficiency or profitability in the most recent year.
- Price to Operating Profit Ratio (P/OP)
- The price to operating profit ratio demonstrated an increasing trend from 2018 through 2021. Starting at 11.63 in 2018, it elevated consistently to 18.74 in 2021, reflecting higher investor willingness to pay per unit of operating profit. In 2022, there was a slight decrease to 18.19, which may suggest a marginal correction or an adjustment in market valuation relative to operating profitability despite the rise in share price and operating profit per share.
- Overall Analysis
- Overall, the data indicates strong shareholder value growth accompanied by fluctuations in operating profit per share. The price to operating profit ratio's upward trend suggests growing investor confidence over the period, although the slight decline in 2022 implies more cautious or balanced market sentiment. The recovery in operating profit per share during the last year potentially supports the elevated share price and valuation multiples observed.
Price to Sales (P/S)
Hubbell Inc., historical P/S calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| 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. | ||||||
| P/S Ratio, Sector | ||||||
| Capital Goods | ||||||
| P/S Ratio, Industry | ||||||
| Industrials | ||||||
Based on: 10-K (reporting date: 2022-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 2022 Calculation
Sales per share = Net sales ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Hubbell Inc. Annual Report.
4 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited a consistent upward trend over the five-year period. Starting at $118.61 at the end of 2018, it rose steadily each year, reaching $240.62 by the end of 2022. This represents more than a doubling of the share price, indicating strong market confidence and positive investor sentiment.
- Sales Per Share
- Sales per share showed some variability during the period. It increased slightly from $82.08 in 2018 to $84.34 in 2019 but then declined to $77.09 in 2020 and remained almost flat in 2021 at $77.08. A notable recovery occurred in 2022, with sales per share rising to $92.31, surpassing previous years and indicating improved sales performance in the latest year.
- Price-to-Sales (P/S) Ratio
- The price-to-sales ratio consistently increased throughout the period, moving from 1.45 in 2018 to 2.61 in 2022. This reflects that the market valuation relative to sales has been expanding, which could suggest growing investor expectations for future growth or profitability, despite the mid-period stagnation in sales per share.
- Overall Analysis
- The combination of rising share price and increasing P/S ratio, alongside fluctuating but recovering sales per share, suggests that the company has maintained strong market confidence and investor optimism, even when sales faced temporary setbacks. The recovery in sales per share in the final year further supports a positive outlook on operational performance.
Price to Book Value (P/BV)
Hubbell Inc., historical P/BV calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Total Hubbell Incorporated 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. | ||||||
| P/BV Ratio, Sector | ||||||
| Capital Goods | ||||||
| P/BV Ratio, Industry | ||||||
| Industrials | ||||||
Based on: 10-K (reporting date: 2022-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 2022 Calculation
BVPS = Total Hubbell Incorporated shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Hubbell Inc. Annual Report.
4 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price of the company exhibited a consistent upward trajectory from 2018 to 2022. Starting at $118.61 in 2018, it rose steadily each year, reaching $240.62 by the end of 2022. This represents more than a doubling of the share price over the five-year period, indicating strong market confidence and positive investor sentiment.
- Book Value Per Share (BVPS) Trend
- Book value per share also increased progressively during the same timeframe, moving from $32.61 in 2018 to $44.05 in 2022. This steady growth reflects ongoing accumulation of the company’s net assets on a per-share basis, suggesting sustained internal value creation and capital retention over the years.
- Price-to-Book Value (P/BV) Ratio Trend
- The price-to-book value ratio experienced a gradual increase from 3.64 in 2018 to 5.46 in 2022. This rising trend indicates that the market price of the stock is growing at a faster rate than the underlying book value. The elevated P/BV in 2022 relative to earlier years may imply heightened investor expectations regarding future profitability, growth prospects, or intangible assets not fully captured on the balance sheet.
- Overall Insights
- Both the share price and book value per share consistently increased over the period, signaling fundamental growth. The accelerating price-to-book value ratio highlights that market valuation is increasingly detached from the purely accounting-based book value, possibly due to optimistic investor outlook or enhanced earnings potential. The data underscores strong equity appreciation alongside robust asset growth, demonstrating favorable financial performance and market perception.