Price to Book Value (P/BV)
since 2005
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Lam Research Corp. pages available for free this week:
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Calculation
Lam Research Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 29, 2024 | = | ÷ | = | ÷ | |||||||
| Aug 15, 2023 | = | ÷ | = | ÷ | |||||||
| Aug 24, 2022 | = | ÷ | = | ÷ | |||||||
| Aug 17, 2021 | = | ÷ | = | ÷ | |||||||
| Aug 18, 2020 | = | ÷ | = | ÷ | |||||||
| Aug 20, 2019 | = | ÷ | = | ÷ | |||||||
| Aug 14, 2018 | = | ÷ | = | ÷ | |||||||
| Aug 15, 2017 | = | ÷ | = | ÷ | |||||||
| Aug 17, 2016 | = | ÷ | = | ÷ | |||||||
| Aug 13, 2015 | = | ÷ | = | ÷ | |||||||
| Aug 26, 2014 | = | ÷ | = | ÷ | |||||||
| Aug 27, 2013 | = | ÷ | = | ÷ | |||||||
| Aug 22, 2012 | = | ÷ | = | ÷ | |||||||
| Aug 19, 2011 | = | ÷ | = | ÷ | |||||||
| Aug 23, 2010 | = | ÷ | = | ÷ | |||||||
| Aug 27, 2009 | = | ÷ | = | ÷ | |||||||
| Aug 28, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2008 | = | ÷ | = | ÷ | |||||||
| Aug 17, 2006 | = | ÷ | = | ÷ | |||||||
| Aug 18, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-24), 10-K (reporting date: 2017-06-25), 10-K (reporting date: 2016-06-26), 10-K (reporting date: 2015-06-28), 10-K (reporting date: 2014-06-29), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-24), 10-K (reporting date: 2011-06-26), 10-K (reporting date: 2010-06-27), 10-K (reporting date: 2009-06-28), 10-K (reporting date: 2008-06-29), 10-K (reporting date: 2007-06-24), 10-K (reporting date: 2006-06-25), 10-K (reporting date: 2005-06-26).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Lam Research Corp. Annual Report.
- Share Price Trends
- The share price shows variable performance over the observed periods. Initially, from 2005 to 2006, there was an increase from $2.93 to $4.12. This was followed by fluctuations between 2006 and 2009, where the price dipped to approximately $3.06 in 2009 after some fluctuations near $3.5–$3.8. Post-2009, the share price recovered and showed a steady upward trajectory with some acceleration from 2013 onwards, rising from $4.64 to $7.2 by 2015. A marked increase appears between 2016 and 2021, where the share price climbed dramatically from $9.02 to a peak of $57.90 in 2021. Subsequently, there was a decline in 2022 to $46.30 before rebounding to $79.73 by the most recent period in 2024. Overall, the share price exhibits long-term growth punctuated by periods of volatility.
- Book Value per Share (BVPS) Evolution
- Book value per share generally increased over the time frame. Beginning at $0.78 in 2005, it experienced moderate growth with occasional declines, reaching $1.42 in 2008 before fluctuating slightly around the $2 to $3 range between 2009 and 2014. From 2014 onward, the BVPS steadily increased, albeit with a notable dip in 2020 where it dropped from $4.13 in 2019 to $3.23 in 2020. Following this dip, the book value resumed its upward trend, reaching a highest recorded value of $6.58 by 2024. This pattern indicates a generally strong growth in net asset value per share, with temporary setbacks likely related to economic or operational challenges.
- Price-to-Book Value (P/BV) Ratio Dynamics
- The P/BV ratio reflects the market’s valuation sentiment relative to the underlying book value. Starting at 3.75 in 2005, it displayed fluctuations with an initial decline from 2006 through 2009, dipping to approximately 1.24 in 2012, representing relatively low market valuation compared to book value. After 2012, the ratio increased steadily, signaling rising market optimism, peaking at 13.64 in 2021 coinciding with the peak share price. The slight decrease and fluctuation around 10 to 12 in subsequent years indicate some moderation in valuation levels but overall show high market confidence. The high P/BV values in the latter years imply that investors are willing to pay a significant premium over the book value, possibly reflecting strong growth prospects or intangible asset recognition.
- Summary Insights
- The overall financial trends demonstrate increasing valuation and shareholder value over the examined periods. The company's share price growth, in conjunction with rising book value per share, suggests improving financial strength and operational performance. The fluctuations in P/BV ratio indicate periods of market reevaluation but ultimately an upward trend in investor confidence. The brief dip in both book value and share price around 2020 could correlate with external economic impacts. The subsequent recovery and acceleration in share price and book value affirm resilience and growth momentum. The significant premium indicated by the P/BV ratio in recent years points toward optimistic investor expectations about the company’s future earnings and asset quality.
Comparison to Competitors
Lam Research Corp., P/BV, long-term trends, comparison to competitors
| Lam Research Corp. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Micron Technology Inc. | Monolithic Power Systems Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 29, 2024 | ||||||||||||
| Aug 15, 2023 | ||||||||||||
| Aug 24, 2022 | ||||||||||||
| Aug 17, 2021 | ||||||||||||
| Aug 18, 2020 | ||||||||||||
| Aug 20, 2019 | ||||||||||||
| Aug 14, 2018 | ||||||||||||
| Aug 15, 2017 | ||||||||||||
| Aug 17, 2016 | ||||||||||||
| Aug 13, 2015 | ||||||||||||
| Aug 26, 2014 | ||||||||||||
| Aug 27, 2013 | ||||||||||||
| Aug 22, 2012 | ||||||||||||
| Aug 19, 2011 | ||||||||||||
| Aug 23, 2010 | ||||||||||||
| Aug 27, 2009 | ||||||||||||
| Aug 28, 2008 | ||||||||||||
| Mar 31, 2008 | ||||||||||||
| Aug 17, 2006 | ||||||||||||
| Aug 18, 2005 |
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-24), 10-K (reporting date: 2017-06-25), 10-K (reporting date: 2016-06-26), 10-K (reporting date: 2015-06-28), 10-K (reporting date: 2014-06-29), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-24), 10-K (reporting date: 2011-06-26), 10-K (reporting date: 2010-06-27), 10-K (reporting date: 2009-06-28), 10-K (reporting date: 2008-06-29), 10-K (reporting date: 2007-06-24), 10-K (reporting date: 2006-06-25), 10-K (reporting date: 2005-06-26).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Lam Research Corp., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Lam Research Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Aug 29, 2024 | ||
| Aug 15, 2023 | ||
| Aug 24, 2022 | ||
| Aug 17, 2021 | ||
| Aug 18, 2020 | ||
| Aug 20, 2019 | ||
| Aug 14, 2018 | ||
| Aug 15, 2017 | ||
| Aug 17, 2016 | ||
| Aug 13, 2015 | ||
| Aug 26, 2014 | ||
| Aug 27, 2013 | ||
| Aug 22, 2012 | ||
| Aug 19, 2011 | ||
| Aug 23, 2010 | ||
| Aug 27, 2009 | ||
| Aug 28, 2008 | ||
| Mar 31, 2008 | ||
| Aug 17, 2006 | ||
| Aug 18, 2005 |
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-24), 10-K (reporting date: 2017-06-25), 10-K (reporting date: 2016-06-26), 10-K (reporting date: 2015-06-28), 10-K (reporting date: 2014-06-29), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-24), 10-K (reporting date: 2011-06-26), 10-K (reporting date: 2010-06-27), 10-K (reporting date: 2009-06-28), 10-K (reporting date: 2008-06-29), 10-K (reporting date: 2007-06-24), 10-K (reporting date: 2006-06-25), 10-K (reporting date: 2005-06-26).
Comparison to Industry (Information Technology)
Lam Research Corp., P/BV, long-term trends, comparison to industry (information technology)
| Lam Research Corp. | Information Technology | |
|---|---|---|
| Aug 29, 2024 | ||
| Aug 15, 2023 | ||
| Aug 24, 2022 | ||
| Aug 17, 2021 | ||
| Aug 18, 2020 | ||
| Aug 20, 2019 | ||
| Aug 14, 2018 | ||
| Aug 15, 2017 | ||
| Aug 17, 2016 | ||
| Aug 13, 2015 | ||
| Aug 26, 2014 | ||
| Aug 27, 2013 | ||
| Aug 22, 2012 | ||
| Aug 19, 2011 | ||
| Aug 23, 2010 | ||
| Aug 27, 2009 | ||
| Aug 28, 2008 | ||
| Mar 31, 2008 | ||
| Aug 17, 2006 | ||
| Aug 18, 2005 |
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-24), 10-K (reporting date: 2017-06-25), 10-K (reporting date: 2016-06-26), 10-K (reporting date: 2015-06-28), 10-K (reporting date: 2014-06-29), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-24), 10-K (reporting date: 2011-06-26), 10-K (reporting date: 2010-06-27), 10-K (reporting date: 2009-06-28), 10-K (reporting date: 2008-06-29), 10-K (reporting date: 2007-06-24), 10-K (reporting date: 2006-06-25), 10-K (reporting date: 2005-06-26).