Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Best Buy Co. Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).
- Price to Earnings (P/E) Ratio
- The P/E ratio data begins in early 2017 and shows notable fluctuations over time. Initial values around 11.29 increased somewhat to a peak near 20.12 during late 2018, indicating rising market valuation relative to earnings at that time. Subsequently, the ratio declined gradually, reaching lows around 8.32 in early 2022 before a slight rebound to approximately 11.89 by late 2022. This pattern suggests periods of both market optimism and caution regarding earnings prospects.
- Price to Operating Profit (P/OP) Ratio
- Starting in early 2017, the P/OP ratio exhibited an upward trend, rising from approximately 7.48 to a peak of about 13.3 in mid-2020. This was followed by a decline to near 6.7 in the third quarter of 2022, with a recovery toward 9.21 by the end of the period. The fluctuations indicate changing investor sentiment on operating profitability and possibly variations in operating performance or market pricing.
- Price to Sales (P/S) Ratio
- The P/S ratio maintains relatively modest variation. From early 2017 levels around 0.35 to 0.47 in mid-2019, it increased noticeably to a peak of approximately 0.66 by mid-2020. Thereafter, it retraced gradually to 0.34 by late 2022. The increased ratios during 2020 suggest heightened valuation against sales, possibly reflecting investor expectations of revenue growth or market conditions during that period.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio presents more sustained growth over the observed timeframe, starting at 2.19 in early 2016 and progressing to peaks above 7.6 in mid-2020 and again in early 2022. Although there were occasional declines, the ratio generally trended upward, indicating progressive market valuation premiums relative to book value. This trend may reflect expectations of improved asset utilization or overall company value beyond book equity.
- Summary
- Overall, the valuation multiples illustrate periods of volatility and adjustment that correspond with broader market and possibly company-specific events. The P/E and P/OP ratios both peaked around mid-2020 before declining, suggesting changing investor assessments of profitability. The P/S ratio's peak during the same period aligns with elevated revenue valuation expectations. Meanwhile, the P/BV ratio shows a general upward trend, indicating increasing market confidence in the company’s underlying asset values over time.
Price to Earnings (P/E)
Best Buy Co. Inc., historical P/E calculation (quarterly data)
| Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 221,264,454 | 225,130,807 | 225,168,407 | 225,227,756 | 240,560,898 | 245,964,220 | 250,472,993 | 250,044,876 | 258,944,852 | 258,832,143 | 258,309,045 | 256,971,220 | 258,777,447 | 263,573,258 | 267,043,142 | 267,804,388 | 269,101,569 | 274,557,555 | 279,391,918 | 282,713,593 | 292,326,497 | 299,184,572 | 304,962,371 | 309,110,840 | 313,826,197 | 317,274,411 | 322,752,742 | ||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||||||||
| Net earnings (in millions) | 277) | 306) | 341) | 626) | 499) | 734) | 595) | 816) | 391) | 432) | 159) | 745) | 293) | 238) | 265) | 735) | 277) | 244) | 208) | 364) | 239) | 209) | 188) | 607) | 194) | 198) | 229) | ||||||||
| Earnings per share (EPS)2 | 7.01 | 7.87 | 9.77 | 10.90 | 10.99 | 10.31 | 8.92 | 7.19 | 6.67 | 6.29 | 5.56 | 6.00 | 5.92 | 5.75 | 5.70 | 5.47 | 4.06 | 3.84 | 3.65 | 3.54 | 4.25 | 4.00 | 3.89 | 3.97 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 83.28 | 74.70 | 81.26 | 101.84 | 105.87 | 116.51 | 115.99 | 118.19 | 108.80 | 110.91 | 79.08 | 50.69 | 82.05 | 66.35 | 63.72 | 71.10 | 60.58 | 77.31 | 72.31 | 68.92 | 60.35 | 55.26 | 59.52 | 44.85 | 45.67 | 38.75 | 30.10 | ||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||||||||
| P/E ratio4 | 11.89 | 9.49 | 8.32 | 9.35 | 9.63 | 11.30 | 13.00 | 16.44 | 16.31 | 17.62 | 14.23 | 8.45 | 13.87 | 11.54 | 11.19 | 13.01 | 14.92 | 20.12 | 19.81 | 19.48 | 14.19 | 13.80 | 15.29 | 11.29 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 65.74 | 110.16 | 251.97 | — | 93.17 | 118.45 | 59.05 | 48.08 | 65.12 | 57.25 | 65.00 | 78.20 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 19.37 | 18.61 | 17.91 | 19.94 | 26.76 | 22.50 | 22.81 | 24.51 | 23.56 | 26.04 | 24.24 | 17.38 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 19.09 | 15.54 | 14.78 | 17.84 | 20.72 | 20.32 | 20.09 | 22.36 | 21.14 | 22.50 | 21.16 | 11.96 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| TJX Cos. Inc. | 27.24 | 21.73 | 22.68 | 22.20 | 31.03 | 35.26 | 53.90 | 881.78 | 103.90 | 92.86 | 38.61 | 17.13 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).
1 Data adjusted for splits and stock dividends.
2 Q3 2023 Calculation
EPS
= (Net earningsQ3 2023
+ Net earningsQ2 2023
+ Net earningsQ1 2023
+ Net earningsQ4 2022)
÷ No. shares of common stock outstanding
= (277,000,000 + 306,000,000 + 341,000,000 + 626,000,000)
÷ 221,264,454 = 7.01
3 Closing price as at the filing date of Best Buy Co. Inc. Quarterly or Annual Report.
4 Q3 2023 Calculation
P/E ratio = Share price ÷ EPS
= 83.28 ÷ 7.01 = 11.89
5 Click competitor name to see calculations.
- Share Price Trends
- The share price demonstrates a generally upward movement from 2016 through late 2020, beginning at $30.10 in April 2016 and peaking at $118.19 in January 2021. This increase is marked by some notable fluctuations, such as a drop from $82.05 in November 2019 to $50.69 in February 2020, followed by a rapid recovery and subsequent growth. Following the peak, the share price trends downward from early 2021 into late 2022, falling to $83.28 by October 2022. The decline from the peak is fairly steady, with intermittent small rebounds.
- Earnings Per Share (EPS) Trends
- EPS data, available starting from January 2017, shows a progressive increase overall but with varying growth rates through the periods. Beginning at $3.97 in January 2017, EPS rises steadily, reaching a high of $10.99 in October 2021. After this peak, EPS decreases slightly, dropping to $7.01 by October 2022. This pattern indicates strong profitability growth up to 2021, followed by a modest contraction.
- Price to Earnings (P/E) Ratio Trends
- The P/E ratio exhibits volatility across the observed periods. Initially, after data availability begins, the ratio stands at 11.29 in January 2017, increases with some fluctuations to near 20 by mid-2018, then generally declines to around 8.45 in May 2020. A resurgence follows, with the ratio climbing to 17.62 by August 2020 and fluctuating between approximately 9 and 16 afterwards. Toward the end of the series, there is a modest upward trend, finishing at 11.89 in October 2022. These movements suggest shifts in market valuation sentiment relative to earnings, with periods of higher market optimism alternating with more conservative assessments.
- Overall Financial Insights
- The combined analysis of share price, EPS, and P/E ratio suggests a period of robust growth in earnings and market valuation culminating around late 2020 and early 2021. Subsequent periods show a correction in market price and a reduction in earnings, possibly indicating changes in company performance or market conditions. The P/E ratio's volatility underscores fluctuating investor confidence and adjustments in the valuation multiples applied to the company’s earnings over time. The observed trends highlight the importance of monitoring both market and operational factors in evaluating future performance.
Price to Operating Profit (P/OP)
Best Buy Co. Inc., historical P/OP calculation (quarterly data)
| Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 221,264,454 | 225,130,807 | 225,168,407 | 225,227,756 | 240,560,898 | 245,964,220 | 250,472,993 | 250,044,876 | 258,944,852 | 258,832,143 | 258,309,045 | 256,971,220 | 258,777,447 | 263,573,258 | 267,043,142 | 267,804,388 | 269,101,569 | 274,557,555 | 279,391,918 | 282,713,593 | 292,326,497 | 299,184,572 | 304,962,371 | 309,110,840 | 313,826,197 | 317,274,411 | 322,752,742 | ||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||||||||
| Operating income (in millions) | 365) | 371) | 462) | 803) | 670) | 797) | 769) | 1,033) | 561) | 568) | 229) | 967) | 395) | 313) | 334) | 978) | 322) | 335) | 265) | 872) | 350) | 321) | 300) | 881) | 312) | 289) | 372) | ||||||||
| Operating profit per share2 | 9.04 | 10.24 | 12.13 | 13.49 | 13.59 | 12.85 | 11.70 | 9.56 | 8.98 | 8.34 | 7.37 | 7.82 | 7.81 | 7.39 | 7.37 | 7.09 | 6.67 | 6.64 | 6.47 | 6.52 | 6.34 | 6.06 | 5.84 | 6.00 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 83.28 | 74.70 | 81.26 | 101.84 | 105.87 | 116.51 | 115.99 | 118.19 | 108.80 | 110.91 | 79.08 | 50.69 | 82.05 | 66.35 | 63.72 | 71.10 | 60.58 | 77.31 | 72.31 | 68.92 | 60.35 | 55.26 | 59.52 | 44.85 | 45.67 | 38.75 | 30.10 | ||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||||||||
| P/OP ratio4 | 9.21 | 7.29 | 6.70 | 7.55 | 7.79 | 9.07 | 9.91 | 12.36 | 12.12 | 13.30 | 10.73 | 6.48 | 10.51 | 8.98 | 8.64 | 10.02 | 9.09 | 11.65 | 11.17 | 10.57 | 9.53 | 9.11 | 10.19 | 7.48 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 50.04 | 81.28 | 81.03 | 86.50 | 81.33 | 89.87 | 64.24 | 64.48 | 60.45 | 56.87 | 62.96 | 72.85 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 13.73 | 13.22 | 12.76 | 14.22 | 19.12 | 16.06 | 16.20 | 17.25 | 16.72 | 18.45 | 17.14 | 12.33 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 12.38 | 10.76 | 10.29 | 12.45 | 14.46 | 12.77 | 12.57 | 13.52 | 12.50 | 15.21 | 14.04 | 8.11 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| TJX Cos. Inc. | 19.26 | 15.06 | 14.90 | 15.32 | 18.99 | 21.99 | 30.54 | 137.02 | 74.61 | 60.02 | 30.12 | 12.69 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).
1 Data adjusted for splits and stock dividends.
2 Q3 2023 Calculation
Operating profit per share
= (Operating incomeQ3 2023
+ Operating incomeQ2 2023
+ Operating incomeQ1 2023
+ Operating incomeQ4 2022)
÷ No. shares of common stock outstanding
= (365,000,000 + 371,000,000 + 462,000,000 + 803,000,000)
÷ 221,264,454 = 9.04
3 Closing price as at the filing date of Best Buy Co. Inc. Quarterly or Annual Report.
4 Q3 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 83.28 ÷ 9.04 = 9.21
5 Click competitor name to see calculations.
- Share Price Trend
- The share price demonstrated a generally upward trajectory from April 2016 to January 2021, rising from 30.1 US$ to a peak of 118.19 US$. This represents almost a fourfold increase over this period. However, some fluctuations occurred, including a notable decline from 82.05 US$ in November 2019 to 50.69 US$ by February 2020, likely reflecting external market conditions. Following this dip, the price recovered strongly, reaching above 110 US$ through most of 2020 and early 2021 before experiencing a gradual decline throughout 2022, with the latest figure at 83.28 US$ by October 2022.
- Operating Profit Per Share (OPPS) Development
- Operating profit per share was first reported at 6 US$ in January 2017 and exhibited a generally positive growth trend through the end of 2021. By October 2021, OPPS had increased to 13.59 US$, more than doubling over the observed period. This indicates consistent improvement in operating profit relative to the number of shares. Starting from 2022, a downward trend is observed with OPPS decreasing to 9.04 US$ by October 2022.
- Price to Operating Profit Ratio (P/OP) Behavior
- The P/OP ratio, indicative of market valuation relative to operating profits, showed significant fluctuations over the period. Initially, it was around 7.48 in January 2017, then increased to peaks above 11 through late 2017 and 2018, indicating a relatively higher valuation relative to profits. It later decreased to a low of 6.48 in May 2020, suggesting a more favorable valuation or increased profitability during this point. Subsequently, the ratio rose again to a peak of 13.3 in August 2020, reflecting heightened market optimism or share price increases outpacing profit growth, before gradually declining to 7.29 by October 2022.
- General Insights
- Over the entire period, the data conveys a scenario where operating profitability per share has generally improved, contributing to an increase in intrinsic performance metrics. Despite substantial growth in share price over the initial years, the latter stages show increased volatility and moderate corrections, possibly reflecting broader economic challenges or company-specific factors. The P/OP ratio's volatility suggests that market sentiment and valuation multiples have been subject to considerable variation, underscoring periods of both optimism and caution among investors.
Price to Sales (P/S)
Best Buy Co. Inc., historical P/S calculation (quarterly data)
| Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 221,264,454 | 225,130,807 | 225,168,407 | 225,227,756 | 240,560,898 | 245,964,220 | 250,472,993 | 250,044,876 | 258,944,852 | 258,832,143 | 258,309,045 | 256,971,220 | 258,777,447 | 263,573,258 | 267,043,142 | 267,804,388 | 269,101,569 | 274,557,555 | 279,391,918 | 282,713,593 | 292,326,497 | 299,184,572 | 304,962,371 | 309,110,840 | 313,826,197 | 317,274,411 | 322,752,742 | ||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||||||||
| Revenue (in millions) | 10,587) | 10,329) | 10,647) | 16,365) | 11,910) | 11,849) | 11,637) | 16,937) | 11,853) | 9,910) | 8,562) | 15,196) | 9,764) | 9,536) | 9,142) | 14,801) | 9,590) | 9,379) | 9,109) | 15,363) | 9,320) | 8,940) | 8,528) | 13,482) | 8,945) | 8,533) | 8,443) | ||||||||
| Sales per share2 | 216.61 | 218.77 | 225.48 | 229.82 | 217.55 | 212.53 | 200.97 | 189.01 | 175.79 | 167.80 | 166.69 | 169.82 | 167.10 | 163.40 | 160.69 | 160.11 | 161.43 | 157.24 | 152.95 | 149.09 | 137.76 | 133.35 | 129.48 | 127.47 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 83.28 | 74.70 | 81.26 | 101.84 | 105.87 | 116.51 | 115.99 | 118.19 | 108.80 | 110.91 | 79.08 | 50.69 | 82.05 | 66.35 | 63.72 | 71.10 | 60.58 | 77.31 | 72.31 | 68.92 | 60.35 | 55.26 | 59.52 | 44.85 | 45.67 | 38.75 | 30.10 | ||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||||||||
| P/S ratio4 | 0.38 | 0.34 | 0.36 | 0.44 | 0.49 | 0.55 | 0.58 | 0.63 | 0.62 | 0.66 | 0.47 | 0.30 | 0.49 | 0.41 | 0.40 | 0.44 | 0.38 | 0.49 | 0.47 | 0.46 | 0.44 | 0.41 | 0.46 | 0.35 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 2.38 | 2.68 | 2.06 | 2.06 | 2.10 | 2.83 | 2.65 | 3.41 | 3.73 | 3.80 | 4.17 | 4.32 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 2.11 | 2.02 | 1.94 | 2.17 | 2.89 | 2.37 | 2.38 | 2.39 | 2.34 | 2.58 | 2.37 | 1.77 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 1.33 | 1.37 | 1.31 | 1.56 | 1.79 | 1.51 | 1.45 | 1.46 | 1.33 | 1.60 | 1.31 | 0.71 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| TJX Cos. Inc. | 1.88 | 1.47 | 1.52 | 1.50 | 1.81 | 2.05 | 2.15 | 2.48 | 2.33 | 1.96 | 1.77 | 1.34 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).
1 Data adjusted for splits and stock dividends.
2 Q3 2023 Calculation
Sales per share
= (RevenueQ3 2023
+ RevenueQ2 2023
+ RevenueQ1 2023
+ RevenueQ4 2022)
÷ No. shares of common stock outstanding
= (10,587,000,000 + 10,329,000,000 + 10,647,000,000 + 16,365,000,000)
÷ 221,264,454 = 216.61
3 Closing price as at the filing date of Best Buy Co. Inc. Quarterly or Annual Report.
4 Q3 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 83.28 ÷ 216.61 = 0.38
5 Click competitor name to see calculations.
- Share Price Trends
- The share price demonstrated a general upward trajectory from April 2016 through October 2020, increasing from $30.10 to a peak of $110.91. During this period, notable growth phases included late 2017 to early 2018 and mid-2019 to late 2020, reflecting increased market valuation. However, starting February 2021, the share price experienced a downward correction, declining from $118.19 to $74.70 by July 2022, despite some minor fluctuations. This indicates increased volatility and potential market reassessment in the more recent quarters.
- Sales per Share Trends
- Sales per share data, available starting January 2017, portrayed a steady increase over time from $127.47 to a peak of $229.82 in April 2022. This consistent growth suggests ongoing improvements in the company's revenue generation on a per-share basis. There were minor dips following the peak, with sales per share slightly decreasing to $216.61 by October 2022, indicating a small deceleration but generally maintaining relatively strong sales performance.
- Price-to-Sales (P/S) Ratio Trends
- The P/S ratio initially varied between 0.35 and 0.49 from January 2017 through November 2019, exhibiting moderate investor valuation relative to sales. A significant rise occurred starting May 2020, with the ratio peaking at 0.66, coinciding with the share price surge. This elevated P/S ratio indicates increased investor optimism or expectations about future growth beyond current sales figures. Following the peak, the P/S ratio progressively declined to 0.34 by July 2022, paralleling the declining share price and suggesting a revaluation to more conservative levels.
- Overall Insights
- The data shows that while the company's sales per share steadily improved over the period, investor sentiment as reflected in the share price and P/S ratio experienced more volatility. The share price and P/S ratio both peaked around late 2020 but reversed trends in early 2021, reflecting changing market perceptions or external factors impacting the valuation. The sustained growth in sales per share amidst share price corrections may indicate underlying business strength, though market valuation appears sensitive to broader economic or sector-specific influences in recent quarters.
Price to Book Value (P/BV)
Best Buy Co. Inc., historical P/BV calculation (quarterly data)
| Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 221,264,454 | 225,130,807 | 225,168,407 | 225,227,756 | 240,560,898 | 245,964,220 | 250,472,993 | 250,044,876 | 258,944,852 | 258,832,143 | 258,309,045 | 256,971,220 | 258,777,447 | 263,573,258 | 267,043,142 | 267,804,388 | 269,101,569 | 274,557,555 | 279,391,918 | 282,713,593 | 292,326,497 | 299,184,572 | 304,962,371 | 309,110,840 | 313,826,197 | 317,274,411 | 322,752,742 | ||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||||||||
| Equity (in millions) | 2,993) | 2,892) | 2,767) | 3,020) | 4,278) | 4,335) | 4,158) | 4,587) | 4,086) | 3,778) | 3,410) | 3,479) | 3,125) | 3,285) | 3,354) | 3,306) | 3,012) | 3,186) | 3,420) | 3,612) | 4,152) | 4,347) | 4,499) | 4,709) | 4,261) | 4,319) | 4,426) | ||||||||
| Book value per share (BVPS)2 | 13.53 | 12.85 | 12.29 | 13.41 | 17.78 | 17.62 | 16.60 | 18.34 | 15.78 | 14.60 | 13.20 | 13.54 | 12.08 | 12.46 | 12.56 | 12.34 | 11.19 | 11.60 | 12.24 | 12.78 | 14.20 | 14.53 | 14.75 | 15.23 | 13.58 | 13.61 | 13.71 | ||||||||
| Share price1, 3 | 83.28 | 74.70 | 81.26 | 101.84 | 105.87 | 116.51 | 115.99 | 118.19 | 108.80 | 110.91 | 79.08 | 50.69 | 82.05 | 66.35 | 63.72 | 71.10 | 60.58 | 77.31 | 72.31 | 68.92 | 60.35 | 55.26 | 59.52 | 44.85 | 45.67 | 38.75 | 30.10 | ||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||||||||
| P/BV ratio4 | 6.16 | 5.82 | 6.61 | 7.60 | 5.95 | 6.61 | 6.99 | 6.44 | 6.90 | 7.60 | 5.99 | 3.74 | 6.79 | 5.32 | 5.07 | 5.76 | 5.41 | 6.66 | 5.91 | 5.39 | 4.25 | 3.80 | 4.03 | 2.94 | 3.36 | 2.85 | 2.19 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 7.21 | 8.54 | 7.00 | 7.25 | 7.67 | 10.46 | 9.44 | 11.60 | 14.19 | 14.68 | 16.93 | 17.86 | 18.40 | 21.50 | 17.47 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 255.09 | 1,325.66 | — | — | 412.02 | 165.73 | 192.67 | 95.58 | 191.69 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | — | — | — | — | — | — | 307.81 | 90.79 | 27.86 | 29.56 | 56.37 | 25.96 | 36.00 | 32.50 | 22.70 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| TJX Cos. Inc. | 16.35 | 13.53 | 13.52 | 12.14 | 12.85 | 13.82 | 13.27 | 13.68 | 13.99 | 14.17 | 13.72 | 9.42 | 12.92 | 12.53 | 11.88 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).
1 Data adjusted for splits and stock dividends.
2 Q3 2023 Calculation
BVPS = Equity ÷ No. shares of common stock outstanding
= 2,993,000,000 ÷ 221,264,454 = 13.53
3 Closing price as at the filing date of Best Buy Co. Inc. Quarterly or Annual Report.
4 Q3 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 83.28 ÷ 13.53 = 6.16
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited a generally upward trend from April 2016 through October 2020, increasing from approximately $30.1 to a peak of around $110.91 in August 2020. Periodic fluctuations were observed, including a notable decline from November 2018 ($60.58) to February 2019 ($71.1), followed by a moderate recovery. After reaching the peak in mid-2020, the price showed some volatility but remained relatively high, stabilizing in the range of $74.7 to $118.19 between mid-2020 and early 2021. Subsequently, the share price experienced a gradual decline through 2022, reaching about $83.28 by late October 2022.
- Book Value per Share (BVPS) Trends
- BVPS presented a more stable but slightly fluctuating pattern compared to the share price. It ranged mostly between $11.19 and $18.34 over the period. Notable is the gradual decline from early 2018 ($12.78) through late 2018 and into early 2019 ($12.34 to $11.19), followed by a recovery moving into 2020 where BVPS climbed to a peak of $18.34 by January 2021. Post this peak, a downward adjustment was seen, with BVPS decreasing to around $12.85 by mid-2022, although a moderate increase to $13.53 was recorded by October 2022.
- Price-to-Book Value (P/BV) Ratio Analysis
- The P/BV ratio has demonstrated elevated volatility aligned with share price shifts. Early in the period, the ratio started at 2.19 and increased sharply to reach peaks above 7.0, indicating that the market price was substantially higher than the underlying book value per share during several quarters. For instance, the ratio was notably high in February 2018 (5.39), August 2018 (6.66), and reached a significant peak in August 2020 at approximately 7.6. The fluctuations in P/BV reflect the interplay between rising share prices and comparatively stable or slowly increasing BVPS, suggesting market optimism or valuation premiums relative to book value at multiple points. By late 2022, the ratio moderated to approximately 6.16, indicating a somewhat reduced but still elevated valuation relative to book value.
- Overall Insights
- Overall, the data reveals a period of strong share price appreciation up to mid-2020, with the underlying book value per share increasing at a slower rate and displaying less volatility. The elevated and fluctuating P/BV ratios indicate periods where market valuations were generous relative to the company’s book value, which is characteristic of investor optimism. The market showed some correction and volatility post-2020, with moderate declines in share prices and book value adjustments through 2022, reflecting a potential revaluation phase. These dynamics suggest a market environment influenced by both growth expectations and adjustments related to intrinsic value measures over time.