Price to Book Value (P/BV)
since 2005
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Western Digital Corp. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
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Calculation
Western Digital Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 22, 2023 | = | ÷ | = | ÷ | |||||||
| Aug 25, 2022 | = | ÷ | = | ÷ | |||||||
| Aug 27, 2021 | = | ÷ | = | ÷ | |||||||
| Aug 28, 2020 | = | ÷ | = | ÷ | |||||||
| Aug 27, 2019 | = | ÷ | = | ÷ | |||||||
| Aug 24, 2018 | = | ÷ | = | ÷ | |||||||
| Aug 29, 2017 | = | ÷ | = | ÷ | |||||||
| Aug 29, 2016 | = | ÷ | = | ÷ | |||||||
| Aug 21, 2015 | = | ÷ | = | ÷ | |||||||
| Aug 15, 2014 | = | ÷ | = | ÷ | |||||||
| Aug 19, 2013 | = | ÷ | = | ÷ | |||||||
| Aug 20, 2012 | = | ÷ | = | ÷ | |||||||
| Aug 12, 2011 | = | ÷ | = | ÷ | |||||||
| Aug 13, 2010 | = | ÷ | = | ÷ | |||||||
| Aug 14, 2009 | = | ÷ | = | ÷ | |||||||
| Aug 20, 2008 | = | ÷ | = | ÷ | |||||||
| Aug 28, 2007 | = | ÷ | = | ÷ | |||||||
| Nov 20, 2006 | = | ÷ | = | ÷ | |||||||
| Sep 14, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-07-01), 10-K (reporting date: 2015-07-03), 10-K (reporting date: 2014-06-27), 10-K (reporting date: 2013-06-28), 10-K (reporting date: 2012-06-29), 10-K (reporting date: 2011-07-01), 10-K (reporting date: 2010-07-02), 10-K (reporting date: 2009-07-03), 10-K (reporting date: 2008-06-27), 10-K (reporting date: 2007-06-29), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-07-01).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Western Digital Corp. Annual Report.
The analysis of the financial data over the periods reveals several key trends regarding the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio.
- Share Price
- The share price demonstrated a generally upward trajectory from 2005 through 2014, escalating from $13.53 to a peak of $100.62 in 2014. After this peak, there was a significant decline during the following years, with notable decreases in 2015 and 2016, reaching $47.08 in 2016. Though there was a recovery in 2017 peaking at $90.07, the price declined again, and by 2023, the share price had dropped to $40.42. This reflects a high level of volatility in share prices over the examined period.
- Book Value Per Share (BVPS)
- BVPS showed a consistent upward trend from 2005 to 2015, growing from $3.24 to a high of $40.01. From 2015 onward, BVPS remained relatively stable with minor fluctuations, peaking at $39.58 in 2018, followed by a gradual decline to $36.42 in 2023. This indicates steady growth in the company’s net asset value per share up until mid-period, after which it plateaued and slightly decreased.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio started relatively high at 4.17 in 2005 and declined substantially until 2010, reaching a low of 1.19. It then experienced some variability, peaking at 2.66 in 2014, correlating with the peak in share price. Subsequent years showed oscillations in the 1.1 to 2.3 range, with a decreasing trend toward 2023, ending at 1.11. This suggests that the market’s valuation of the company relative to its book value became more conservative over time, especially after 2014.
Overall, the data reflects a period of significant growth in intrinsic value as measured by BVPS until around 2015, while market valuation as seen in share prices and the P/BV ratio experienced pronounced volatility and a downward reassessment in subsequent years. This divergence between book value growth and market valuation volatility may suggest shifting market perceptions, external economic factors, or company-specific events influencing investor sentiment during the latter periods.
Comparison to Competitors
Western Digital Corp., P/BV, long-term trends, comparison to competitors
| Western Digital Corp. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Aug 22, 2023 | ||||||
| Aug 25, 2022 | ||||||
| Aug 27, 2021 | ||||||
| Aug 28, 2020 | ||||||
| Aug 27, 2019 | ||||||
| Aug 24, 2018 | ||||||
| Aug 29, 2017 | ||||||
| Aug 29, 2016 | ||||||
| Aug 21, 2015 | ||||||
| Aug 15, 2014 | ||||||
| Aug 19, 2013 | ||||||
| Aug 20, 2012 | ||||||
| Aug 12, 2011 | ||||||
| Aug 13, 2010 | ||||||
| Aug 14, 2009 | ||||||
| Aug 20, 2008 | ||||||
| Aug 28, 2007 | ||||||
| Nov 20, 2006 | ||||||
| Sep 14, 2005 |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-07-01), 10-K (reporting date: 2015-07-03), 10-K (reporting date: 2014-06-27), 10-K (reporting date: 2013-06-28), 10-K (reporting date: 2012-06-29), 10-K (reporting date: 2011-07-01), 10-K (reporting date: 2010-07-02), 10-K (reporting date: 2009-07-03), 10-K (reporting date: 2008-06-27), 10-K (reporting date: 2007-06-29), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-07-01).
Comparison to Sector (Technology Hardware & Equipment)
Western Digital Corp., P/BV, long-term trends, comparison to sector (technology hardware & equipment)
| Western Digital Corp. | Technology Hardware & Equipment | |
|---|---|---|
| Aug 22, 2023 | ||
| Aug 25, 2022 | ||
| Aug 27, 2021 | ||
| Aug 28, 2020 | ||
| Aug 27, 2019 | ||
| Aug 24, 2018 | ||
| Aug 29, 2017 | ||
| Aug 29, 2016 | ||
| Aug 21, 2015 | ||
| Aug 15, 2014 | ||
| Aug 19, 2013 | ||
| Aug 20, 2012 | ||
| Aug 12, 2011 | ||
| Aug 13, 2010 | ||
| Aug 14, 2009 | ||
| Aug 20, 2008 | ||
| Aug 28, 2007 | ||
| Nov 20, 2006 | ||
| Sep 14, 2005 |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-07-01), 10-K (reporting date: 2015-07-03), 10-K (reporting date: 2014-06-27), 10-K (reporting date: 2013-06-28), 10-K (reporting date: 2012-06-29), 10-K (reporting date: 2011-07-01), 10-K (reporting date: 2010-07-02), 10-K (reporting date: 2009-07-03), 10-K (reporting date: 2008-06-27), 10-K (reporting date: 2007-06-29), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-07-01).
Comparison to Industry (Information Technology)
Western Digital Corp., P/BV, long-term trends, comparison to industry (information technology)
| Western Digital Corp. | Information Technology | |
|---|---|---|
| Aug 22, 2023 | ||
| Aug 25, 2022 | ||
| Aug 27, 2021 | ||
| Aug 28, 2020 | ||
| Aug 27, 2019 | ||
| Aug 24, 2018 | ||
| Aug 29, 2017 | ||
| Aug 29, 2016 | ||
| Aug 21, 2015 | ||
| Aug 15, 2014 | ||
| Aug 19, 2013 | ||
| Aug 20, 2012 | ||
| Aug 12, 2011 | ||
| Aug 13, 2010 | ||
| Aug 14, 2009 | ||
| Aug 20, 2008 | ||
| Aug 28, 2007 | ||
| Nov 20, 2006 | ||
| Sep 14, 2005 |
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-07-01), 10-K (reporting date: 2021-07-02), 10-K (reporting date: 2020-07-03), 10-K (reporting date: 2019-06-28), 10-K (reporting date: 2018-06-29), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-07-01), 10-K (reporting date: 2015-07-03), 10-K (reporting date: 2014-06-27), 10-K (reporting date: 2013-06-28), 10-K (reporting date: 2012-06-29), 10-K (reporting date: 2011-07-01), 10-K (reporting date: 2010-07-02), 10-K (reporting date: 2009-07-03), 10-K (reporting date: 2008-06-27), 10-K (reporting date: 2007-06-29), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-07-01).