Price to Book Value (P/BV)
since 2005
Calculation
Twenty-First Century Fox Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Twenty-First Century Fox, Inc. stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 13, 2018 | 4.29 | = | 45.32 | ÷ | 10.56 | 10.56 | = | 19,564 | ÷ | 1,852,574,153 | |
| Aug 14, 2017 | 3.32 | = | 28.21 | ÷ | 8.49 | 8.49 | = | 15,722 | ÷ | 1,851,057,916 | |
| Aug 11, 2016 | 3.57 | = | 26.16 | ÷ | 7.33 | 7.33 | = | 13,661 | ÷ | 1,862,528,151 | |
| Aug 13, 2015 | 3.53 | = | 30.12 | ÷ | 8.53 | 8.53 | = | 17,220 | ÷ | 2,019,460,912 | |
| Aug 14, 2014 | 4.50 | = | 35.76 | ÷ | 7.95 | 7.95 | = | 17,418 | ÷ | 2,190,056,341 | |
| Aug 19, 2013 | 4.27 | = | 31.44 | ÷ | 7.36 | 7.36 | = | 16,998 | ÷ | 2,309,530,372 | |
| Aug 14, 2012 | 2.23 | = | 23.30 | ÷ | 10.43 | 10.43 | = | 24,684 | ÷ | 2,367,337,220 | |
| Aug 15, 2011 | 1.51 | = | 16.91 | ÷ | 11.23 | 11.23 | = | 29,506 | ÷ | 2,626,892,496 | |
| Aug 6, 2010 | 1.47 | = | 14.10 | ÷ | 9.58 | 9.58 | = | 25,113 | ÷ | 2,621,188,038 | |
| Aug 12, 2009 | 1.27 | = | 11.26 | ÷ | 8.88 | 8.88 | = | 23,224 | ÷ | 2,614,312,978 | |
| Aug 13, 2008 | 1.25 | = | 13.67 | ÷ | 10.97 | 10.97 | = | 28,623 | ÷ | 2,609,043,246 | |
| Aug 23, 2007 | 1.94 | = | 20.40 | ÷ | 10.52 | 10.52 | = | 32,922 | ÷ | 3,128,392,204 | |
| Aug 23, 2006 | 1.96 | = | 18.53 | ÷ | 9.46 | 9.46 | = | 29,874 | ÷ | 3,157,684,640 | |
| Sep 1, 2005 | 1.80 | = | 16.16 | ÷ | 8.99 | 8.99 | = | 29,377 | ÷ | 3,266,235,922 |
Based on: 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 Twenty-First Century Fox Inc. Annual Report.
The analysis covers share price, book value per share (BVPS), and price-to-book value (P/BV) ratio trends over a 14-year period.
- Share Price
- The share price demonstrated noticeable fluctuations during the period. Initially, it rose from $16.16 in 2005 to $20.40 in 2007, followed by a significant decline reaching a low of $11.26 in 2009. Subsequently, the share price entered a period of gradual recovery and growth, rising to $35.76 in 2014. After a decline in the mid-2010s to $26.16 by 2016, the share price rebounded sharply, closing at a high of $45.32 in 2018.
- Book Value per Share (BVPS)
- BVPS showed moderate variability, increasing steadily from $8.99 in 2005 to a peak of $10.97 in 2008. However, a decline followed, dropping to $7.36 by 2013. From this low point, BVPS experienced gradual improvement, reaching $10.56 by 2018, indicating a recovery in equity value per share over the long term.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio started at 1.80 and remained relatively stable near this level until 2007. In the financial crisis period of 2008-2009, the ratio decreased to approximately 1.25, reflecting lower market valuations relative to book value. Beginning in 2012, the ratio increased significantly, peaking at 4.50 in 2014, indicating that the market valued the shares at more than four times their book value. Although there was some decline after 2014, the ratio remained elevated above 3.3, reaching 4.29 in 2018, suggesting strong investor confidence or expectations beyond the book value.
Overall, the data shows a recovery trend in both share price and book value per share after the 2008-2009 downturn, with the market assigning increasingly higher multiples to the company's book value in the latter years. The elevated P/BV ratios in recent years imply optimistic market sentiment relative to the company's net asset value.
Comparison to Competitors
Twenty-First Century Fox Inc., P/BV, long-term trends, comparison to competitors
| Twenty-First Century Fox Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Take-Two Interactive Software Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|---|
| Aug 13, 2018 | 4.29 | 4.49 | 2.31 | 5.65 | 27.41 | 8.75 | 3.45 |
| Aug 14, 2017 | 3.32 | 4.93 | 2.88 | 7.54 | 34.48 | 8.04 | 3.76 |
| Aug 11, 2016 | 3.57 | 3.99 | 3.31 | 6.39 | 22.88 | 5.44 | 3.61 |
| Aug 13, 2015 | 3.53 | 3.91 | 2.78 | 7.02 | 18.18 | 4.10 | 4.41 |
| Aug 14, 2014 | 4.50 | 3.44 | 2.86 | 6.05 | 14.45 | 2.34 | 3.39 |
| Aug 19, 2013 | 4.27 | 4.57 | 2.84 | 10.31 | 18.14 | 2.58 | 2.68 |
| Aug 14, 2012 | 2.23 | 3.46 | 2.14 | 6.02 | 12.39 | 1.78 | 2.17 |
| Aug 15, 2011 | 1.51 | 3.18 | 1.71 | — | 10.68 | 2.34 | 1.61 |
| Aug 6, 2010 | 1.47 | 4.34 | 1.58 | — | 42.92 | 2.11 | 1.86 |
| Aug 12, 2009 | 1.27 | 4.71 | 1.07 | — | 17.54 | 1.48 | 1.70 |
| Aug 13, 2008 | 1.25 | 3.99 | 0.91 | — | 6.05 | 1.06 | 1.07 |
| Aug 23, 2007 | 1.94 | 7.31 | 1.47 | — | 4.48 | 3.01 | 1.95 |
| Aug 23, 2006 | 1.96 | 8.18 | 2.01 | — | 3.74 | 2.36 | 2.14 |
| Sep 1, 2005 | 1.80 | 10.69 | 1.41 | — | 6.24 | 1.63 | 1.88 |
Based on: 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 (Media & Entertainment)
Twenty-First Century Fox Inc., P/BV, long-term trends, comparison to sector (media & entertainment)
| Twenty-First Century Fox Inc. | Media & Entertainment | |
|---|---|---|
| Aug 13, 2018 | 4.29 | 4.53 |
| Aug 14, 2017 | 3.32 | 5.26 |
| Aug 11, 2016 | 3.57 | 4.46 |
| Aug 13, 2015 | 3.53 | 4.41 |
| Aug 14, 2014 | 4.50 | 3.77 |
| Aug 19, 2013 | 4.27 | 4.23 |
| Aug 14, 2012 | 2.23 | 3.00 |
| Aug 15, 2011 | 1.51 | 2.32 |
| Aug 6, 2010 | 1.47 | 2.75 |
| Aug 12, 2009 | 1.27 | 2.45 |
| Aug 13, 2008 | 1.25 | 1.84 |
| Aug 23, 2007 | 1.94 | 3.03 |
| Aug 23, 2006 | 1.96 | 3.22 |
| Sep 1, 2005 | 1.80 | 2.73 |
Based on: 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 (Communication Services)
Twenty-First Century Fox Inc., P/BV, long-term trends, comparison to industry (communication services)
| Twenty-First Century Fox Inc. | Communication Services | |
|---|---|---|
| Aug 13, 2018 | 4.29 | 3.49 |
| Aug 14, 2017 | 3.32 | 4.14 |
| Aug 11, 2016 | 3.57 | 3.98 |
| Aug 13, 2015 | 3.53 | 3.88 |
| Aug 14, 2014 | 4.50 | 3.70 |
| Aug 19, 2013 | 4.27 | 3.60 |
| Aug 14, 2012 | 2.23 | 2.84 |
| Aug 15, 2011 | 1.51 | 2.18 |
| Aug 6, 2010 | 1.47 | 2.24 |
| Aug 12, 2009 | 1.27 | 1.97 |
| Aug 13, 2008 | 1.25 | 1.70 |
| Aug 23, 2007 | 1.94 | 2.33 |
| Aug 23, 2006 | 1.96 | 2.49 |
| Sep 1, 2005 | 1.80 | 2.45 |
Based on: 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).