Price to Book Value (P/BV)
since 2005
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Altria Group Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2005
- Analysis of Debt
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Calculation
Altria Group Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity (deficit) attributable to Altria1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 10, 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: 2011-12-31), 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 Altria Group Inc. Annual Report.
The annual financial data for the company reveals notable fluctuations in the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the analyzed period.
- Share Price
- The share price experienced significant volatility. Starting at $73.86 in 2006, it rose to a peak of $84.34 in 2007 before undergoing a steep decline to $15.44 in 2009. Following this low point, there was a consistent upward trend, reaching $74.59 by 2017. However, from 2018 onwards, the share price showed a downward bias overall, decreasing from $64 in 2018 to $40.90 in 2024, with intermittent moderate recoveries, such as in 2021 and 2022.
- Book Value per Share (BVPS)
- The BVPS demonstrated a marked decline over the period. From $17.11 in 2006, it dropped sharply to a low of $1.37 in 2009. Afterwards, BVPS fluctuated in the lower single-digit range, peaking at $8.09 in 2018. Thereafter, it continuously decreased, turning negative from 2022 (-$0.88) onwards and reaching -$2.01 by 2024, indicating potential erosion of net asset value per share.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio exhibited considerable variation, reflecting changes in both share price and book value. Beginning at 4.32 in 2006, it increased sharply, peaking at 42.41 in 2016, influenced by the very low book values during these years. Following this peak, the ratio decreased to 6.6 by 2019, then surged again to 28.54 in 2021. Data is missing for the last two years, making trend assessment beyond 2021 incomplete. The elevated P/BV ratios in multiple years suggest the market valued the shares significantly above their book value, often due to depressed BVPS.
Overall, the data reflects a period of instability and challenges for the company, with substantial declines in intrinsic book value per share, while market share prices remained relatively resilient but volatile. The persistent low or negative book values juxtaposed with fluctuating share prices resulted in high and erratic P/BV ratios, suggesting cautious investor sentiment amid underlying asset value deterioration.
Comparison to Competitors
Altria Group Inc., P/BV, long-term trends, comparison to competitors
| Altria Group Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Feb 27, 2024 | |||||
| Feb 27, 2023 | |||||
| Feb 25, 2022 | |||||
| Feb 26, 2021 | |||||
| Feb 25, 2020 | |||||
| Feb 26, 2019 | |||||
| Feb 27, 2018 | |||||
| Feb 27, 2017 | |||||
| Feb 25, 2016 | |||||
| Feb 25, 2015 | |||||
| Feb 26, 2014 | |||||
| Feb 27, 2013 | |||||
| Feb 16, 2012 | |||||
| Feb 25, 2011 | |||||
| Feb 24, 2010 | |||||
| Feb 27, 2009 | |||||
| Feb 28, 2008 | |||||
| Mar 1, 2007 | |||||
| Mar 10, 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: 2011-12-31), 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 (Food, Beverage & Tobacco)
Altria Group Inc., P/BV, long-term trends, comparison to sector (food, beverage & tobacco)
| Altria Group Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Feb 27, 2024 | ||
| Feb 27, 2023 | ||
| Feb 25, 2022 | ||
| Feb 26, 2021 | ||
| Feb 25, 2020 | ||
| Feb 26, 2019 | ||
| Feb 27, 2018 | ||
| Feb 27, 2017 | ||
| Feb 25, 2016 | ||
| Feb 25, 2015 | ||
| Feb 26, 2014 | ||
| Feb 27, 2013 | ||
| Feb 16, 2012 | ||
| Feb 25, 2011 | ||
| Feb 24, 2010 | ||
| Feb 27, 2009 | ||
| Feb 28, 2008 | ||
| Mar 1, 2007 | ||
| Mar 10, 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: 2011-12-31), 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 (Consumer Staples)
Altria Group Inc., P/BV, long-term trends, comparison to industry (consumer staples)
| Altria Group Inc. | Consumer Staples | |
|---|---|---|
| Feb 27, 2024 | ||
| Feb 27, 2023 | ||
| Feb 25, 2022 | ||
| Feb 26, 2021 | ||
| Feb 25, 2020 | ||
| Feb 26, 2019 | ||
| Feb 27, 2018 | ||
| Feb 27, 2017 | ||
| Feb 25, 2016 | ||
| Feb 25, 2015 | ||
| Feb 26, 2014 | ||
| Feb 27, 2013 | ||
| Feb 16, 2012 | ||
| Feb 25, 2011 | ||
| Feb 24, 2010 | ||
| Feb 27, 2009 | ||
| Feb 28, 2008 | ||
| Mar 1, 2007 | ||
| Mar 10, 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: 2011-12-31), 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).