Price to Book Value (P/BV)
since 2005
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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Calculation
Microsoft Corp., 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jul 30, 2025 | = | ÷ | = | ÷ | |||||||
| Jul 30, 2024 | = | ÷ | = | ÷ | |||||||
| Jul 27, 2023 | = | ÷ | = | ÷ | |||||||
| Jul 28, 2022 | = | ÷ | = | ÷ | |||||||
| Jul 29, 2021 | = | ÷ | = | ÷ | |||||||
| Jul 31, 2020 | = | ÷ | = | ÷ | |||||||
| Aug 1, 2019 | = | ÷ | = | ÷ | |||||||
| Aug 3, 2018 | = | ÷ | = | ÷ | |||||||
| Aug 2, 2017 | = | ÷ | = | ÷ | |||||||
| Jul 28, 2016 | = | ÷ | = | ÷ | |||||||
| Jul 31, 2015 | = | ÷ | = | ÷ | |||||||
| Jul 31, 2014 | = | ÷ | = | ÷ | |||||||
| Jul 30, 2013 | = | ÷ | = | ÷ | |||||||
| Jul 26, 2012 | = | ÷ | = | ÷ | |||||||
| Jul 28, 2011 | = | ÷ | = | ÷ | |||||||
| Jul 30, 2010 | = | ÷ | = | ÷ | |||||||
| Jul 30, 2009 | = | ÷ | = | ÷ | |||||||
| Jul 31, 2008 | = | ÷ | = | ÷ | |||||||
| Aug 3, 2007 | = | ÷ | = | ÷ | |||||||
| Aug 25, 2006 | = | ÷ | = | ÷ | |||||||
| Aug 26, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Microsoft Corp. Annual Report.
The analysis of the provided financial data over the 20-year period reveals notable trends in Microsoft Corp.'s share price, book value per share (BVPS), and corresponding price-to-book value (P/BV) ratio.
- Share Price Trends
- The share price exhibited considerable volatility early in the period, with values ranging between approximately $24 and $112 from 2005 through 2007, before experiencing a significant decline around 2008-2009, reaching lows near $24.81. Subsequently, from 2010 onwards, there is a consistent upward trajectory with pronounced acceleration especially after 2015. The share price rose dramatically from $46.70 in 2015 to over $513.24 by 2025, indicating strong market confidence and growth in the company's valuation.
- Book Value per Share (BVPS) Trends
- BVPS shows a steady, generally upward progression throughout the entire period, increasing from $4.49 in 2005 to $46.21 in 2025. There are minor fluctuations, such as a dip from 10.90 in 2014 down to 9.24 in 2016, but overall the trend suggests consistent asset growth or retained earnings accumulation per share, reflecting improving underlying book value fundamentals.
- Price-to-Book Value (P/BV) Ratio Trends
- The P/BV ratio starts at a very high level of 17.9 in 2005 and spikes to an extreme 33.73 by 2007, suggesting overvaluation relative to book value during this period. This is followed by a sharp decrease to approximately 3.36-6.08 from 2008 through 2012, implying that market prices aligned more closely with book values after the 2008 financial downturn. From 2013 onward, the ratio trends upward again, peaking around 15.16 in 2021. Subsequently, the ratio declines slightly to 11.11 by 2025. This pattern suggests the market assigned a growing premium to the company’s book value during periods of strong share price growth, yet the premium moderates somewhat in the last few years analyzed.
Overall, the data indicates that while the book value per share has grown steadily, the share price has experienced greater fluctuation but with strong long-term growth. The P/BV ratio's volatility reflects varying market sentiment and valuation cycles, with early signs of overvaluation, correction during the financial crisis, and renewed optimism followed by slight moderation in the most recent years. The significant growth in the share price relative to BVPS towards the end of the period points to increasing investor confidence and a shift toward valuing intangible assets or future earnings potential.
Comparison to Competitors
Microsoft Corp., P/BV, long-term trends, comparison to competitors
| Microsoft Corp. | Accenture PLC | Adobe Inc. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Datadog Inc. | Fair Isaac Corp. | International Business Machines Corp. | Intuit Inc. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jul 30, 2025 | ||||||||||||||||
| Jul 30, 2024 | ||||||||||||||||
| Jul 27, 2023 | ||||||||||||||||
| Jul 28, 2022 | ||||||||||||||||
| Jul 29, 2021 | ||||||||||||||||
| Jul 31, 2020 | ||||||||||||||||
| Aug 1, 2019 | ||||||||||||||||
| Aug 3, 2018 | ||||||||||||||||
| Aug 2, 2017 | ||||||||||||||||
| Jul 28, 2016 | ||||||||||||||||
| Jul 31, 2015 | ||||||||||||||||
| Jul 31, 2014 | ||||||||||||||||
| Jul 30, 2013 | ||||||||||||||||
| Jul 26, 2012 | ||||||||||||||||
| Jul 28, 2011 | ||||||||||||||||
| Jul 30, 2010 | ||||||||||||||||
| Jul 30, 2009 | ||||||||||||||||
| Jul 31, 2008 | ||||||||||||||||
| Aug 3, 2007 | ||||||||||||||||
| Aug 25, 2006 | ||||||||||||||||
| Aug 26, 2005 |
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
Comparison to Sector (Software & Services)
Microsoft Corp., P/BV, long-term trends, comparison to sector (software & services)
| Microsoft Corp. | Software & Services | |
|---|---|---|
| Jul 30, 2025 | ||
| Jul 30, 2024 | ||
| Jul 27, 2023 | ||
| Jul 28, 2022 | ||
| Jul 29, 2021 | ||
| Jul 31, 2020 | ||
| Aug 1, 2019 | ||
| Aug 3, 2018 | ||
| Aug 2, 2017 | ||
| Jul 28, 2016 | ||
| Jul 31, 2015 | ||
| Jul 31, 2014 | ||
| Jul 30, 2013 | ||
| Jul 26, 2012 | ||
| Jul 28, 2011 | ||
| Jul 30, 2010 | ||
| Jul 30, 2009 | ||
| Jul 31, 2008 | ||
| Aug 3, 2007 | ||
| Aug 25, 2006 | ||
| Aug 26, 2005 |
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
Comparison to Industry (Information Technology)
Microsoft Corp., P/BV, long-term trends, comparison to industry (information technology)
| Microsoft Corp. | Information Technology | |
|---|---|---|
| Jul 30, 2025 | ||
| Jul 30, 2024 | ||
| Jul 27, 2023 | ||
| Jul 28, 2022 | ||
| Jul 29, 2021 | ||
| Jul 31, 2020 | ||
| Aug 1, 2019 | ||
| Aug 3, 2018 | ||
| Aug 2, 2017 | ||
| Jul 28, 2016 | ||
| Jul 31, 2015 | ||
| Jul 31, 2014 | ||
| Jul 30, 2013 | ||
| Jul 26, 2012 | ||
| Jul 28, 2011 | ||
| Jul 30, 2010 | ||
| Jul 30, 2009 | ||
| Jul 31, 2008 | ||
| Aug 3, 2007 | ||
| Aug 25, 2006 | ||
| Aug 26, 2005 |
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).