Price to Book Value (P/BV)
since 2005
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Teradyne Inc. pages available for free this week:
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Income Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
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Calculation
Teradyne Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 22, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2021 | = | ÷ | = | ÷ | |||||||
| Mar 2, 2020 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2019 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2014 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2010 | = | ÷ | = | ÷ | |||||||
| Mar 2, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 14, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2023-12-31), 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: 2016-12-31), 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: 2011-12-30), 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 Teradyne Inc. Annual Report.
The analysis of the financial data reveals several notable trends and patterns over the examined periods.
- Share Price
- The share price exhibited significant fluctuations throughout the years. Initially, it remained relatively stable around the mid-teens, with values between approximately $12 and $16 from 2006 to 2008. A marked decline occurred in 2009, dropping sharply to $3.93, likely reflecting adverse market or company-specific conditions. Subsequently, a recovery phase is observable, with the share price rising steadily from 2010 onward. This upward trajectory culminated in a pronounced surge from 2020 onwards, peaking at $132.39 in 2021. Following this peak, the share price experienced a decline but maintained relatively high levels above $100 through to 2024. This indicates strong market performance in recent years despite some volatility.
- Book Value Per Share (BVPS)
- BVPS showed a more gradual and less volatile trend compared to the share price. It started near $6 in 2006 and experienced minor increases and decreases over the next several years, dipping to around $3.75 in 2010, which corresponds with the low share price period. Following 2010, BVPS generally increased, reaching values above $15 by 2022 and stabilizing around $16.5 in 2024. The increase in BVPS over the long term indicates growth in the company’s net asset value per share, suggesting a strengthening balance sheet.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio reflects the relationship between the market valuation and the company’s book value per share. The ratio started around 2.5 in 2006 and fell below 1 in 2009, indicating the share price was trading below book value during that period, aligning with the sharp drop in share price. Post-2009, the ratio increased significantly, with values consistently above 2 from 2010 onward. It peaked at 10 in 2021, coinciding with the peak in share price. Since then, the P/BV ratio decreased but remained high above 6, suggesting the market valued the shares substantially higher than their book value. This elevated ratio may imply market optimism and expectations of strong future performance or growth potential.
In summary, the data displays a period of financial distress around 2009, followed by sustained growth in both market value and book value per share. The increase in P/BV ratio in the latter years signals heightened investor confidence and market valuation premiums over the company’s net asset base.
Comparison to Competitors
Teradyne Inc., P/BV, long-term trends, comparison to competitors
| Teradyne Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 22, 2024 | ||||||||||||
| Feb 22, 2023 | ||||||||||||
| Feb 23, 2022 | ||||||||||||
| Feb 22, 2021 | ||||||||||||
| Mar 2, 2020 | ||||||||||||
| Mar 1, 2019 | ||||||||||||
| Mar 1, 2018 | ||||||||||||
| Mar 1, 2017 | ||||||||||||
| Feb 29, 2016 | ||||||||||||
| Feb 27, 2015 | ||||||||||||
| Feb 28, 2014 | ||||||||||||
| Mar 1, 2013 | ||||||||||||
| Feb 29, 2012 | ||||||||||||
| Mar 1, 2011 | ||||||||||||
| Mar 1, 2010 | ||||||||||||
| Mar 2, 2009 | ||||||||||||
| Feb 28, 2008 | ||||||||||||
| Mar 1, 2007 | ||||||||||||
| Mar 14, 2006 |
Based on: 10-K (reporting date: 2023-12-31), 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: 2016-12-31), 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: 2011-12-30), 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 (Semiconductors & Semiconductor Equipment)
Teradyne Inc., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Teradyne Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Feb 22, 2024 | ||
| Feb 22, 2023 | ||
| Feb 23, 2022 | ||
| Feb 22, 2021 | ||
| Mar 2, 2020 | ||
| Mar 1, 2019 | ||
| Mar 1, 2018 | ||
| Mar 1, 2017 | ||
| Feb 29, 2016 | ||
| Feb 27, 2015 | ||
| Feb 28, 2014 | ||
| Mar 1, 2013 | ||
| Feb 29, 2012 | ||
| Mar 1, 2011 | ||
| Mar 1, 2010 | ||
| Mar 2, 2009 | ||
| Feb 28, 2008 | ||
| Mar 1, 2007 | ||
| Mar 14, 2006 |
Based on: 10-K (reporting date: 2023-12-31), 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: 2016-12-31), 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: 2011-12-30), 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 (Information Technology)
Teradyne Inc., P/BV, long-term trends, comparison to industry (information technology)
| Teradyne Inc. | Information Technology | |
|---|---|---|
| Feb 22, 2024 | ||
| Feb 22, 2023 | ||
| Feb 23, 2022 | ||
| Feb 22, 2021 | ||
| Mar 2, 2020 | ||
| Mar 1, 2019 | ||
| Mar 1, 2018 | ||
| Mar 1, 2017 | ||
| Feb 29, 2016 | ||
| Feb 27, 2015 | ||
| Feb 28, 2014 | ||
| Mar 1, 2013 | ||
| Feb 29, 2012 | ||
| Mar 1, 2011 | ||
| Mar 1, 2010 | ||
| Mar 2, 2009 | ||
| Feb 28, 2008 | ||
| Mar 1, 2007 | ||
| Mar 14, 2006 |
Based on: 10-K (reporting date: 2023-12-31), 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: 2016-12-31), 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: 2011-12-30), 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).