Stock Analysis on Net

O’Reilly Automotive Inc. (NASDAQ:ORLY)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 8, 2022.

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

O’Reilly Automotive Inc., P/BV, long-term trends, calculation

Microsoft Excel

Based on: 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 O’Reilly Automotive Inc. Annual Report.


Share Price Trend
The share price exhibited an overall upward trajectory over the analyzed period, starting at $35.71 in 2006 and escalating to $649.24 by 2022. There were periods of moderate growth interspersed with notable accelerations, particularly post-2010. The price rose steadily from approximately $35 to over $100 between 2006 and 2013, followed by sharper increases reaching over $400 by 2021 and surging to nearly $650 by early 2022.
Book Value Per Share (BVPS) Trend
Book value per share demonstrated a rising trend from 2006 through 2011, increasing from $10.19 to a peak of $22.74. However, after 2011, BVPS declined sharply, dipping below $20 by 2013 and reaching negative territory in 2022. This indicates a deterioration in net asset value on a per-share basis in later years, which contrasts with the share price performance.
Price-to-Book Value Ratio (P/BV)
The P/BV ratio fluctuated significantly throughout the period. Initially, it recorded moderate values around 3.5 in 2006 and declined to below 2.0 by 2008-2009. From 2010 onwards, the ratio escalated rapidly, reaching extreme highs of over 80 in 2019 and exceeding 220 by 2021. The ratio for 2022 is not reported. This sharp increase reflects a growing disparity between market valuation and book value, mainly driven by the declining BVPS combined with rising share prices.
Overall Insight
The data reveals a pronounced divergence between market valuation and accounting fundamentals. Despite deteriorating book value per share, the share price advanced substantially, suggesting strong market confidence or external factors driving valuation beyond the underlying net asset base. The escalating P/BV ratio highlights increased investor willingness to pay a premium over book value, indicating possible expectations of future growth or intangibles not captured in book value. The negative BVPS in the most recent period calls for careful consideration of the company’s financial health and asset composition compared to its market perception.

Comparison to Competitors

O’Reilly Automotive Inc., P/BV, long-term trends, comparison to competitors

Microsoft Excel

Based on: 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)

O’Reilly Automotive Inc., P/BV, long-term trends, comparison to sector (consumer discretionary distribution & retail)

Microsoft Excel

Based on: 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)

O’Reilly Automotive Inc., P/BV, long-term trends, comparison to industry (consumer discretionary)

Microsoft Excel

Based on: 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).