Price to Book Value (P/BV)
since 2005
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CSX Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Calculation
CSX Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareholders’ equity, attributable to CSX1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 15, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2006 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-30), 10-K (reporting date: 2015-12-25), 10-K (reporting date: 2014-12-26), 10-K (reporting date: 2013-12-27), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-25), 10-K (reporting date: 2008-12-26), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of CSX Corp. Annual Report.
- Share Price Trend
- The share price exhibits significant fluctuations over the analyzed period. Initially, it increased from 3.08 US$ in early 2006 to a peak of 5.57 US$ in early 2008, followed by a sharp decline to 2.92 US$ by early 2009. Subsequently, the price recovered and showed an overall upward trajectory, reaching its highest value of 35.17 US$ in early 2022 before a slight decline to 31.67 US$ in early 2023.
- Book Value Per Share (BVPS) Trend
- The book value per share consistently increased over the years, moving from 2.01 US$ in early 2006 to a peak of 6.15 US$ in early 2022. Minor declines are observed around early 2019 and early 2020, but the general trend reflects steady growth in the underlying equity value attributed to each share, indicating strengthening fundamentals.
- Price-to-Book Value (P/BV) Ratio Analysis
- The P/BV ratio demonstrates volatility throughout the period. It started at 1.53 in early 2006, rose to notable peaks such as 3.81 in early 2017 and 5.72 in early 2022, reflecting periods when the market price significantly exceeded the book value per share. Conversely, the ratio dipped to as low as 1.30 in early 2009, coinciding with the share price slump during that time. Recent years exhibit elevated P/BV ratios above 5, suggesting heightened market optimism or premium valuation relative to book value.
- Overall Insights
- The data reveals a cyclical pattern within the share price, marked by recoveries following downturns, particularly noticeable during the financial crisis period around 2008-2009. The steady increase in book value per share suggests consistent growth in net assets or retained earnings over time. The P/BV ratio’s volatility indicates shifts in market sentiment or valuation multiples, with current levels signifying an optimistic market stance towards the company compared to its historical book value.
Comparison to Competitors
CSX Corp., P/BV, long-term trends, comparison to competitors
| CSX Corp. | FedEx Corp. | Uber Technologies Inc. | Union Pacific Corp. | United Airlines Holdings Inc. | United Parcel Service Inc. | |
|---|---|---|---|---|---|---|
| Feb 15, 2023 | ||||||
| Feb 16, 2022 | ||||||
| Feb 10, 2021 | ||||||
| Feb 12, 2020 | ||||||
| Feb 6, 2019 | ||||||
| Feb 7, 2018 | ||||||
| Feb 14, 2017 | ||||||
| Feb 10, 2016 | ||||||
| Feb 11, 2015 | ||||||
| Feb 12, 2014 | ||||||
| Feb 19, 2013 | ||||||
| Feb 21, 2012 | ||||||
| Feb 18, 2011 | ||||||
| Feb 19, 2010 | ||||||
| Feb 19, 2009 | ||||||
| Feb 22, 2008 | ||||||
| Feb 15, 2007 | ||||||
| Feb 24, 2006 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-30), 10-K (reporting date: 2015-12-25), 10-K (reporting date: 2014-12-26), 10-K (reporting date: 2013-12-27), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-25), 10-K (reporting date: 2008-12-26), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).
Comparison to Sector (Transportation)
CSX Corp., P/BV, long-term trends, comparison to sector (transportation)
| CSX Corp. | Transportation | |
|---|---|---|
| Feb 15, 2023 | ||
| Feb 16, 2022 | ||
| Feb 10, 2021 | ||
| Feb 12, 2020 | ||
| Feb 6, 2019 | ||
| Feb 7, 2018 | ||
| Feb 14, 2017 | ||
| Feb 10, 2016 | ||
| Feb 11, 2015 | ||
| Feb 12, 2014 | ||
| Feb 19, 2013 | ||
| Feb 21, 2012 | ||
| Feb 18, 2011 | ||
| Feb 19, 2010 | ||
| Feb 19, 2009 | ||
| Feb 22, 2008 | ||
| Feb 15, 2007 | ||
| Feb 24, 2006 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-30), 10-K (reporting date: 2015-12-25), 10-K (reporting date: 2014-12-26), 10-K (reporting date: 2013-12-27), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-25), 10-K (reporting date: 2008-12-26), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).
Comparison to Industry (Industrials)
CSX Corp., P/BV, long-term trends, comparison to industry (industrials)
| CSX Corp. | Industrials | |
|---|---|---|
| Feb 15, 2023 | ||
| Feb 16, 2022 | ||
| Feb 10, 2021 | ||
| Feb 12, 2020 | ||
| Feb 6, 2019 | ||
| Feb 7, 2018 | ||
| Feb 14, 2017 | ||
| Feb 10, 2016 | ||
| Feb 11, 2015 | ||
| Feb 12, 2014 | ||
| Feb 19, 2013 | ||
| Feb 21, 2012 | ||
| Feb 18, 2011 | ||
| Feb 19, 2010 | ||
| Feb 19, 2009 | ||
| Feb 22, 2008 | ||
| Feb 15, 2007 | ||
| Feb 24, 2006 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-30), 10-K (reporting date: 2015-12-25), 10-K (reporting date: 2014-12-26), 10-K (reporting date: 2013-12-27), 10-K (reporting date: 2012-12-28), 10-K (reporting date: 2011-12-30), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-25), 10-K (reporting date: 2008-12-26), 10-K (reporting date: 2007-12-28), 10-K (reporting date: 2006-12-29), 10-K (reporting date: 2005-12-30).