Price to Book Value (P/BV)
since 2005
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Texas Instruments Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
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Calculation
Texas Instruments Inc., 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 6, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 2, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 3, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 4, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 5, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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: 2011-12-31), 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 Texas Instruments Inc. Annual Report.
The price-to-book value (P/BV) ratio for the period examined exhibits considerable fluctuation, generally trending upwards with notable peaks and valleys. Initial values in the early part of the period are relatively stable, followed by a significant decline and subsequent recovery, culminating in a more volatile pattern in recent years.
- Early Period (2006-2009)
- From 2006 to 2008, the P/BV ratio remained within a narrow range, fluctuating between 3.93 and 4.14. A substantial decrease is then observed in 2009, with the ratio falling to 2.09. This decline coincides with a significant reduction in the share price during the same period.
- Recovery and Growth (2010-2018)
- Following the 2009 low, the P/BV ratio demonstrates a consistent upward trend, increasing from 3.10 in 2010 to 9.89 in 2018. This growth is largely attributable to increases in the share price, while book value per share experienced more moderate gains. The ratio more than doubled over this period, indicating increasing investor confidence.
- Recent Volatility (2019-2025)
- The period from 2019 onwards is characterized by increased volatility in the P/BV ratio. The ratio peaked at 17.02 in 2021, driven by a substantial increase in share price, but then decreased to 11.87 in 2022. A further decline to 8.57 was observed in 2023, followed by a recovery to 9.86 and then 12.35 in 2024 and 2025 respectively. This suggests a heightened sensitivity to market conditions and investor sentiment. Book value per share has also shown a consistent upward trend during this period, but not at the same rate as the share price fluctuations.
Overall, the P/BV ratio has demonstrated a long-term upward trajectory, although punctuated by periods of significant volatility. The recent fluctuations suggest that the company’s valuation is becoming increasingly responsive to market dynamics and investor expectations. The ratio’s movement appears closely correlated with changes in the share price, indicating that investor sentiment plays a significant role in the company’s valuation relative to its book value.
Comparison to Competitors
Texas Instruments Inc., P/BV, long-term trends, comparison to competitors
| Texas Instruments 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 6, 2026 | |||||||||||
| Feb 14, 2025 | |||||||||||
| Feb 2, 2024 | |||||||||||
| Feb 3, 2023 | |||||||||||
| Feb 4, 2022 | |||||||||||
| Feb 5, 2021 | |||||||||||
| Feb 20, 2020 | |||||||||||
| Feb 22, 2019 | |||||||||||
| Feb 22, 2018 | |||||||||||
| Feb 23, 2017 | |||||||||||
| Feb 24, 2016 | |||||||||||
| Feb 24, 2015 | |||||||||||
| Feb 24, 2014 | |||||||||||
| Feb 22, 2013 | |||||||||||
| Feb 24, 2012 | |||||||||||
| Feb 25, 2011 | |||||||||||
| Feb 23, 2010 | |||||||||||
| Feb 24, 2009 | |||||||||||
| Feb 26, 2008 | |||||||||||
| Feb 28, 2007 | |||||||||||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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: 2011-12-31), 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 (Semiconductors & Semiconductor Equipment)
Texas Instruments Inc., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Texas Instruments Inc. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Feb 6, 2026 | ||
| Feb 14, 2025 | ||
| Feb 2, 2024 | ||
| Feb 3, 2023 | ||
| Feb 4, 2022 | ||
| Feb 5, 2021 | ||
| Feb 20, 2020 | ||
| Feb 22, 2019 | ||
| Feb 22, 2018 | ||
| Feb 23, 2017 | ||
| Feb 24, 2016 | ||
| Feb 24, 2015 | ||
| Feb 24, 2014 | ||
| Feb 22, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 23, 2010 | ||
| Feb 24, 2009 | ||
| Feb 26, 2008 | ||
| Feb 28, 2007 | ||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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: 2011-12-31), 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 (Information Technology)
Texas Instruments Inc., P/BV, long-term trends, comparison to industry (information technology)
| Texas Instruments Inc. | Information Technology | |
|---|---|---|
| Feb 6, 2026 | ||
| Feb 14, 2025 | ||
| Feb 2, 2024 | ||
| Feb 3, 2023 | ||
| Feb 4, 2022 | ||
| Feb 5, 2021 | ||
| Feb 20, 2020 | ||
| Feb 22, 2019 | ||
| Feb 22, 2018 | ||
| Feb 23, 2017 | ||
| Feb 24, 2016 | ||
| Feb 24, 2015 | ||
| Feb 24, 2014 | ||
| Feb 22, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 23, 2010 | ||
| Feb 24, 2009 | ||
| Feb 26, 2008 | ||
| Feb 28, 2007 | ||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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: 2011-12-31), 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).