Price to Book Value (P/BV)
since 2005
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Micron Technology Inc. pages available for free this week:
- Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
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Calculation
Micron Technology Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Micron shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Oct 4, 2024 | = | ÷ | = | ÷ | |||||||
| Oct 6, 2023 | = | ÷ | = | ÷ | |||||||
| Oct 7, 2022 | = | ÷ | = | ÷ | |||||||
| Oct 8, 2021 | = | ÷ | = | ÷ | |||||||
| Oct 19, 2020 | = | ÷ | = | ÷ | |||||||
| Oct 17, 2019 | = | ÷ | = | ÷ | |||||||
| Oct 15, 2018 | = | ÷ | = | ÷ | |||||||
| Oct 26, 2017 | = | ÷ | = | ÷ | |||||||
| Oct 28, 2016 | = | ÷ | = | ÷ | |||||||
| Oct 27, 2015 | = | ÷ | = | ÷ | |||||||
| Oct 27, 2014 | = | ÷ | = | ÷ | |||||||
| Oct 28, 2013 | = | ÷ | = | ÷ | |||||||
| Oct 29, 2012 | = | ÷ | = | ÷ | |||||||
| Oct 25, 2011 | = | ÷ | = | ÷ | |||||||
| Oct 26, 2010 | = | ÷ | = | ÷ | |||||||
| Oct 28, 2009 | = | ÷ | = | ÷ | |||||||
| Oct 27, 2008 | = | ÷ | = | ÷ | |||||||
| Oct 26, 2007 | = | ÷ | = | ÷ | |||||||
| Nov 8, 2006 | = | ÷ | = | ÷ | |||||||
| Nov 4, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Micron Technology Inc. Annual Report.
The share price exhibited significant volatility over the analyzed period. Initially, the price declined from $13.92 in 2005 to a low of $3.39 in 2008, reflecting a substantial decrease during that interval. Following this trough, a recovery began, with the price rising to $32.30 by 2014. After a brief dip in 2015, the share price increased markedly, reaching a peak of $102.25 in 2024, indicating a strong upward trend in the later years.
The book value per share (BVPS) showed a more moderate pattern of change relative to the share price. BVPS started at $9.46 in 2005 and declined to a low point of $5.48 in 2009, mirroring the period of share price decline. From 2010 onward, BVPS generally increased, reaching a high of $45.91 in 2022 before slightly decreasing to $40.18 in 2023 and stabilizing near that level at $40.70 in 2024. This suggests an overall enhancement in the company's net asset base per share over the longer term, despite some recent plateauing.
The price-to-book value ratio (P/BV) also reflected considerable fluctuation. It started at 1.47 in 2005, then dropped sharply to 0.42 in 2008, corresponding with the low share price and relatively higher book value at that time. Subsequent years saw an increase with notable peaks such as 3.22 in 2013, indicating periods where the market valued the shares at a premium relative to book value. The P/BV ratio remained above 1 from 2013 onwards, exhibiting moderate volatility but generally indicating that the market valued the company above its book value. By 2024, the ratio rose to 2.51, consistent with the strong appreciation in share price relative to BVPS.
Overall, the financial data reveal a company that experienced significant market valuation challenges around the 2008 financial crisis, with both share price and BVPS declining. Since then, there has been a robust recovery in market value outpacing the growth of book value, as evidenced by the rising P/BV ratio. The recent years show a marked improvement in investor confidence and market valuation, although the book value growth has somewhat moderated.
Comparison to Competitors
Micron Technology Inc., P/BV, long-term trends, comparison to competitors
| Micron Technology Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Oct 4, 2024 | |||||||||||
| Oct 6, 2023 | |||||||||||
| Oct 7, 2022 | |||||||||||
| Oct 8, 2021 | |||||||||||
| Oct 19, 2020 | |||||||||||
| Oct 17, 2019 | |||||||||||
| Oct 15, 2018 | |||||||||||
| Oct 26, 2017 | |||||||||||
| Oct 28, 2016 | |||||||||||
| Oct 27, 2015 | |||||||||||
| Oct 27, 2014 | |||||||||||
| Oct 28, 2013 | |||||||||||
| Oct 29, 2012 | |||||||||||
| Oct 25, 2011 | |||||||||||
| Oct 26, 2010 | |||||||||||
| Oct 28, 2009 | |||||||||||
| Oct 27, 2008 | |||||||||||
| Oct 26, 2007 | |||||||||||
| Nov 8, 2006 | |||||||||||
| Nov 4, 2005 |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Micron Technology Inc., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Micron Technology Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Oct 4, 2024 | ||
| Oct 6, 2023 | ||
| Oct 7, 2022 | ||
| Oct 8, 2021 | ||
| Oct 19, 2020 | ||
| Oct 17, 2019 | ||
| Oct 15, 2018 | ||
| Oct 26, 2017 | ||
| Oct 28, 2016 | ||
| Oct 27, 2015 | ||
| Oct 27, 2014 | ||
| Oct 28, 2013 | ||
| Oct 29, 2012 | ||
| Oct 25, 2011 | ||
| Oct 26, 2010 | ||
| Oct 28, 2009 | ||
| Oct 27, 2008 | ||
| Oct 26, 2007 | ||
| Nov 8, 2006 | ||
| Nov 4, 2005 |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).
Comparison to Industry (Information Technology)
Micron Technology Inc., P/BV, long-term trends, comparison to industry (information technology)
| Micron Technology Inc. | Information Technology | |
|---|---|---|
| Oct 4, 2024 | ||
| Oct 6, 2023 | ||
| Oct 7, 2022 | ||
| Oct 8, 2021 | ||
| Oct 19, 2020 | ||
| Oct 17, 2019 | ||
| Oct 15, 2018 | ||
| Oct 26, 2017 | ||
| Oct 28, 2016 | ||
| Oct 27, 2015 | ||
| Oct 27, 2014 | ||
| Oct 28, 2013 | ||
| Oct 29, 2012 | ||
| Oct 25, 2011 | ||
| Oct 26, 2010 | ||
| Oct 28, 2009 | ||
| Oct 27, 2008 | ||
| Oct 26, 2007 | ||
| Nov 8, 2006 | ||
| Nov 4, 2005 |
Based on: 10-K (reporting date: 2024-08-29), 10-K (reporting date: 2023-08-31), 10-K (reporting date: 2022-09-01), 10-K (reporting date: 2021-09-02), 10-K (reporting date: 2020-09-03), 10-K (reporting date: 2019-08-29), 10-K (reporting date: 2018-08-30), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-09-01), 10-K (reporting date: 2015-09-03), 10-K (reporting date: 2014-08-28), 10-K (reporting date: 2013-08-29), 10-K (reporting date: 2012-08-30), 10-K (reporting date: 2011-09-01), 10-K (reporting date: 2010-09-02), 10-K (reporting date: 2009-09-03), 10-K (reporting date: 2008-08-28), 10-K (reporting date: 2007-08-30), 10-K (reporting date: 2006-08-31), 10-K (reporting date: 2005-09-01).