Price to Book Value (P/BV)
since 2005
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Air Products & Chemicals Inc. pages available for free this week:
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Net Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Analysis of Revenues
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Calculation
Air Products & Chemicals Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Air Products shareholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nov 19, 2020 | = | ÷ | = | ÷ | |||||||
| Nov 26, 2019 | = | ÷ | = | ÷ | |||||||
| Nov 20, 2018 | = | ÷ | = | ÷ | |||||||
| Nov 16, 2017 | = | ÷ | = | ÷ | |||||||
| Nov 21, 2016 | = | ÷ | = | ÷ | |||||||
| Nov 24, 2015 | = | ÷ | = | ÷ | |||||||
| Nov 24, 2014 | = | ÷ | = | ÷ | |||||||
| Nov 26, 2013 | = | ÷ | = | ÷ | |||||||
| Nov 20, 2012 | = | ÷ | = | ÷ | |||||||
| Nov 22, 2011 | = | ÷ | = | ÷ | |||||||
| Nov 23, 2010 | = | ÷ | = | ÷ | |||||||
| Nov 25, 2009 | = | ÷ | = | ÷ | |||||||
| Nov 26, 2008 | = | ÷ | = | ÷ | |||||||
| Nov 28, 2007 | = | ÷ | = | ÷ | |||||||
| Dec 13, 2006 | = | ÷ | = | ÷ | |||||||
| Nov 22, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Air Products & Chemicals Inc. Annual Report.
The analysis of the financial data reveals several notable trends in the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the examined periods.
- Share Price
- The share price demonstrated considerable volatility throughout the years. Initially, it showed growth from $60.43 in late 2005 to a peak of $96.78 in 2007, followed by a significant decline to $46.50 in 2008. Post-2008, the share price recovered steadily, with marked increases, reaching a high of $270.36 by late 2020. This pattern reflects sensitivity to broader market conditions during the 2008 financial crisis and a subsequent strong recovery phase.
- Book Value Per Share (BVPS)
- The BVPS exhibited a generally upward trend over the period. Starting at $20.60 in 2005, it experienced gradual increases with minor fluctuations, reaching $54.65 in 2020. This steady growth indicates consistent accumulation of equity value on a per-share basis, reflecting retained earnings and potentially stable capital management.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio demonstrated variability, influenced by the interplay between the share price and BVPS. Notably, the ratio dropped significantly in 2008 to 1.94 amid the share price collapse, before rising again to levels above 3 in subsequent years. Trends show that the ratio peaked around 4.95 in 2020, suggesting that the market valuation of the company relative to its book value increased substantially, potentially reflecting heightened investor confidence or expectations of future growth.
In summary, the company experienced a period of volatility around the 2008 financial crisis with share price declines, followed by sustained recovery and growth. BVPS increased steadily, indicating strengthening equity per share. The rising P/BV ratio in later years underscores an enhanced market premium over book value, which may suggest optimistic future prospects as perceived by investors.
Comparison to Competitors
Air Products & Chemicals Inc., P/BV, long-term trends, comparison to competitors
| Air Products & Chemicals Inc. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Nov 19, 2020 | |||
| Nov 26, 2019 | |||
| Nov 20, 2018 | |||
| Nov 16, 2017 | |||
| Nov 21, 2016 | |||
| Nov 24, 2015 | |||
| Nov 24, 2014 | |||
| Nov 26, 2013 | |||
| Nov 20, 2012 | |||
| Nov 22, 2011 | |||
| Nov 23, 2010 | |||
| Nov 25, 2009 | |||
| Nov 26, 2008 | |||
| Nov 28, 2007 | |||
| Dec 13, 2006 | |||
| Nov 22, 2005 |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Chemicals)
Air Products & Chemicals Inc., P/BV, long-term trends, comparison to sector (chemicals)
| Air Products & Chemicals Inc. | Chemicals | |
|---|---|---|
| Nov 19, 2020 | ||
| Nov 26, 2019 | ||
| Nov 20, 2018 | ||
| Nov 16, 2017 | ||
| Nov 21, 2016 | ||
| Nov 24, 2015 | ||
| Nov 24, 2014 | ||
| Nov 26, 2013 | ||
| Nov 20, 2012 | ||
| Nov 22, 2011 | ||
| Nov 23, 2010 | ||
| Nov 25, 2009 | ||
| Nov 26, 2008 | ||
| Nov 28, 2007 | ||
| Dec 13, 2006 | ||
| Nov 22, 2005 |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Materials)
Air Products & Chemicals Inc., P/BV, long-term trends, comparison to industry (materials)
| Air Products & Chemicals Inc. | Materials | |
|---|---|---|
| Nov 19, 2020 | ||
| Nov 26, 2019 | ||
| Nov 20, 2018 | ||
| Nov 16, 2017 | ||
| Nov 21, 2016 | ||
| Nov 24, 2015 | ||
| Nov 24, 2014 | ||
| Nov 26, 2013 | ||
| Nov 20, 2012 | ||
| Nov 22, 2011 | ||
| Nov 23, 2010 | ||
| Nov 25, 2009 | ||
| Nov 26, 2008 | ||
| Nov 28, 2007 | ||
| Dec 13, 2006 | ||
| Nov 22, 2005 |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).