Price to Book Value (P/BV)
since 2005
Calculation
Amazon.com Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 7, 2025 | 8.49 | = | 229.15 | ÷ | 26.98 | 26.98 | = | 285,970 | ÷ | 10,597,729,352 | |
| Feb 2, 2024 | 8.84 | = | 171.81 | ÷ | 19.43 | 19.43 | = | 201,875 | ÷ | 10,387,381,291 | |
| Feb 3, 2023 | 7.25 | = | 103.39 | ÷ | 14.25 | 14.25 | = | 146,043 | ÷ | 10,247,259,757 | |
| Feb 4, 2022 | 11.60 | = | 157.64 | ÷ | 13.58 | 13.58 | = | 138,245 | ÷ | 10,176,888,200 | |
| Feb 3, 2021 | 17.86 | = | 165.63 | ÷ | 9.27 | 9.27 | = | 93,404 | ÷ | 10,071,294,860 | |
| Jan 31, 2020 | 16.11 | = | 100.44 | ÷ | 6.23 | 6.23 | = | 62,060 | ÷ | 9,956,208,880 | |
| Feb 1, 2019 | 18.34 | = | 81.31 | ÷ | 4.43 | 4.43 | = | 43,549 | ÷ | 9,824,057,800 | |
| Feb 2, 2018 | 24.98 | = | 71.50 | ÷ | 2.86 | 2.86 | = | 27,709 | ÷ | 9,682,143,660 | |
| Feb 10, 2017 | 20.47 | = | 41.37 | ÷ | 2.02 | 2.02 | = | 19,285 | ÷ | 9,543,412,360 | |
| Jan 29, 2016 | 20.65 | = | 29.35 | ÷ | 1.42 | 1.42 | = | 13,384 | ÷ | 9,416,840,700 | |
| Jan 30, 2015 | 15.33 | = | 17.73 | ÷ | 1.16 | 1.16 | = | 10,741 | ÷ | 9,287,678,780 | |
| Jan 31, 2014 | 16.90 | = | 17.93 | ÷ | 1.06 | 1.06 | = | 9,746 | ÷ | 9,185,290,700 | |
| Jan 30, 2013 | 15.14 | = | 13.64 | ÷ | 0.90 | 0.90 | = | 8,192 | ÷ | 9,091,021,380 | |
| Feb 1, 2012 | 10.52 | = | 8.97 | ÷ | 0.85 | 0.85 | = | 7,757 | ÷ | 9,101,369,300 | |
| Jan 28, 2011 | 11.25 | = | 8.56 | ÷ | 0.76 | 0.76 | = | 6,864 | ÷ | 9,020,075,180 | |
| Jan 29, 2010 | 10.60 | = | 6.27 | ÷ | 0.59 | 0.59 | = | 5,257 | ÷ | 8,890,928,840 | |
| Jan 30, 2009 | 9.43 | = | 2.94 | ÷ | 0.31 | 0.31 | = | 2,672 | ÷ | 8,571,662,700 | |
| Feb 11, 2008 | 26.19 | = | 3.76 | ÷ | 0.14 | 0.14 | = | 1,197 | ÷ | 8,336,353,800 | |
| Feb 16, 2007 | 38.87 | = | 2.02 | ÷ | 0.05 | 0.05 | = | 431 | ÷ | 8,293,573,760 | |
| Feb 17, 2006 | 66.44 | = | 1.96 | ÷ | 0.03 | 0.03 | = | 246 | ÷ | 8,338,455,720 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 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), 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: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Amazon.com Inc. Annual Report.
The share price of the company has exhibited a general upward trajectory over the analyzed period from 2006 to 2025. Starting at $1.96 in early 2006, the share price saw moderate growth initially, followed by more pronounced increments from 2012 onwards. Notable peaks were observed in 2021 at $165.63 and again reaching $229.15 by early 2025, despite some fluctuations and a decline during 2022 and 2023.
Book value per share (BVPS) consistently increased across the years, reflecting steady growth in the company's net asset value per share. The value rose from a minimal $0.03 in 2006 to $26.98 by early 2025. This indicates an accumulation of net assets and possibly retained earnings, supporting the company's fundamental strength and internal value.
The price-to-book value (P/BV) ratio demonstrated significant variability over the years. Initially extremely high at 66.44 in 2006, the ratio declined sharply to single digits by 2009, indicating that the market price became more closely aligned with the company’s book value during that period. Subsequently, the P/BV ratio fluctuated between approximately 7 and 25, with peaks around 2017 and 2018 near 20-25, suggesting periods of heightened market optimism or premium valuation relative to book value. During the more recent years, from 2022 to 2025, the P/BV ratio decreased and stabilized closer to the 8-9 range, reflecting a less aggressive market valuation relative to book value despite an increase in the share price and book value.
Overall, the observed trends suggest robust growth in both market valuation and underlying net asset value. The decline in the P/BV ratio from a very high premium in the early years to a more moderate level in recent years may indicate increasing market maturity and possibly a more balanced investor assessment of the company's intrinsic worth. The substantial increases in share price paired with consistent BVPS growth highlight a strengthening equity position and positive market sentiment, albeit punctuated by some volatility.
Comparison to Competitors
Amazon.com Inc., P/BV, long-term trends, comparison to competitors
| Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|
| Feb 7, 2025 | 8.49 | 359.76 | — | 15.09 |
| Feb 2, 2024 | 8.84 | 187.12 | — | 13.86 |
| Feb 3, 2023 | 7.25 | — | — | 12.14 |
| Feb 4, 2022 | 11.60 | 95.58 | 90.79 | 13.68 |
| Feb 3, 2021 | 17.86 | — | 25.96 | 9.42 |
| Jan 31, 2020 | 16.11 | — | 24.01 | 12.79 |
| Feb 1, 2019 | 18.34 | 139.52 | 11.89 | 10.23 |
| Feb 2, 2018 | 24.98 | 41.08 | 10.87 | 11.27 |
| Feb 10, 2017 | 20.47 | 25.88 | 8.87 | 12.09 |
| Jan 29, 2016 | 20.65 | 15.76 | 7.10 | 11.23 |
| Jan 30, 2015 | 15.33 | 8.68 | 4.20 | 10.18 |
| Jan 31, 2014 | 16.90 | 5.83 | 2.99 | 9.36 |
| Jan 30, 2013 | 15.14 | 4.23 | 2.28 | 9.20 |
| Feb 1, 2012 | 10.52 | 3.21 | 1.96 | 6.30 |
| Jan 28, 2011 | 11.25 | 2.85 | 1.84 | 6.12 |
| Jan 29, 2010 | 10.60 | 2.36 | 1.49 | 4.96 |
| Jan 30, 2009 | 9.43 | 2.79 | 2.22 | 6.74 |
| Feb 11, 2008 | 26.19 | 2.90 | 3.04 | 5.25 |
| Feb 16, 2007 | 38.87 | 3.38 | 3.54 | 6.17 |
| Feb 17, 2006 | 66.44 | 3.37 | 3.61 | 7.15 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 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), 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: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
Amazon.com Inc., P/BV, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Amazon.com Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Feb 7, 2025 | 8.49 | 10.96 |
| Feb 2, 2024 | 8.84 | 11.65 |
| Feb 3, 2023 | 7.25 | 11.07 |
| Feb 4, 2022 | 11.60 | 14.31 |
| Feb 3, 2021 | 17.86 | 20.07 |
| Jan 31, 2020 | 16.11 | 19.77 |
| Feb 1, 2019 | 18.34 | 20.07 |
| Feb 2, 2018 | 24.98 | 23.06 |
| Feb 10, 2017 | 20.47 | 18.06 |
| Jan 29, 2016 | 20.65 | 14.67 |
| Jan 30, 2015 | 15.33 | 9.31 |
| Jan 31, 2014 | 16.90 | 7.64 |
| Jan 30, 2013 | 15.14 | 5.82 |
| Feb 1, 2012 | 10.52 | 4.12 |
| Jan 28, 2011 | 11.25 | 3.84 |
| Jan 29, 2010 | 10.60 | 3.13 |
| Jan 30, 2009 | 9.43 | 3.23 |
| Feb 11, 2008 | 26.19 | 3.70 |
| Feb 16, 2007 | 38.87 | 3.90 |
| Feb 17, 2006 | 66.44 | 4.03 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 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), 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: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Discretionary)
Amazon.com Inc., P/BV, long-term trends, comparison to industry (consumer discretionary)
| Amazon.com Inc. | Consumer Discretionary | |
|---|---|---|
| Feb 7, 2025 | 8.49 | 32.00 |
| Feb 2, 2024 | 8.84 | 10.11 |
| Feb 3, 2023 | 7.25 | 9.55 |
| Feb 4, 2022 | 11.60 | 13.30 |
| Feb 3, 2021 | 17.86 | 18.17 |
| Jan 31, 2020 | 16.11 | 13.59 |
| Feb 1, 2019 | 18.34 | 11.35 |
| Feb 2, 2018 | 24.98 | 10.74 |
| Feb 10, 2017 | 20.47 | 8.39 |
| Jan 29, 2016 | 20.65 | 7.17 |
| Jan 30, 2015 | 15.33 | 5.83 |
| Jan 31, 2014 | 16.90 | 5.12 |
| Jan 30, 2013 | 15.14 | 4.39 |
| Feb 1, 2012 | 10.52 | 3.84 |
| Jan 28, 2011 | 11.25 | 4.04 |
| Jan 29, 2010 | 10.60 | 4.73 |
| Jan 30, 2009 | 9.43 | 4.98 |
| Feb 11, 2008 | 26.19 | 3.91 |
| Feb 16, 2007 | 38.87 | 4.50 |
| Feb 17, 2006 | 66.44 | 3.49 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 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), 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: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).