Price to Book Value (P/BV)
since 2005
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Coca-Cola Co. pages available for free this week:
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
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Calculation
Coca-Cola Co., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Equity attributable to shareowners of The Coca-Cola Company1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 20, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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 Coca-Cola Co. Annual Report.
The price-to-book value (P/BV) ratio for the period examined exhibits considerable fluctuation, generally trending upwards with notable peaks and valleys. Initial values in the early part of the period suggest a relatively stable valuation, followed by increased volatility and a subsequent rise towards the end of the observed timeframe.
- Initial Period (2006-2009)
- The P/BV ratio began around 6.08 and demonstrated modest variation, peaking at 6.51 before declining to 4.64. This initial period suggests a relatively consistent, though not dramatically high, valuation of the company’s stock relative to its book value. The decrease in 2009 likely reflects market conditions during that time.
- Stabilization and Moderate Growth (2010-2013)
- From 2010 through 2013, the P/BV ratio experienced a period of stabilization and moderate growth, ranging between approximately 4.73 and 5.23. This indicates a gradual increase in investor confidence or a shift in market perception of the company’s value.
- Significant Increase (2014-2016)
- A notable increase in the P/BV ratio is observed from 2014 to 2016, rising from 5.06 to a peak of 7.78. This substantial increase suggests a significant re-evaluation of the company’s stock by investors, potentially driven by improved financial performance or positive market sentiment. The ratio more than doubled in this period.
- Volatility and Peak (2017-2019)
- The P/BV ratio continued to climb, reaching a high of 11.55 in 2019. This period demonstrates increased volatility, with the ratio fluctuating significantly. The sustained high values suggest a strong market premium placed on the company’s net asset value.
- Recent Years (2020-2026)
- Following the peak in 2019, the P/BV ratio experienced a decline to 10.09 in 2020, before fluctuating between approximately 10 and 13. The most recent values indicate a continued, though less dramatic, premium valuation, with the ratio ending at 10.67. This suggests a stabilization at a higher valuation level than observed in the earlier years of the period.
Overall, the P/BV ratio demonstrates a clear upward trend over the examined period, punctuated by periods of volatility. The increasing ratio suggests that investors have been willing to pay a progressively higher price for each dollar of the company’s book value, indicating growing confidence in its future prospects.
Comparison to Competitors
Coca-Cola Co., P/BV, long-term trends, comparison to competitors
| Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|
| Feb 20, 2026 | ||||
| Feb 20, 2025 | ||||
| Feb 20, 2024 | ||||
| Feb 21, 2023 | ||||
| Feb 22, 2022 | ||||
| Feb 25, 2021 | ||||
| Feb 24, 2020 | ||||
| Feb 21, 2019 | ||||
| Feb 23, 2018 | ||||
| Feb 24, 2017 | ||||
| Feb 25, 2016 | ||||
| Feb 25, 2015 | ||||
| Feb 27, 2014 | ||||
| Feb 27, 2013 | ||||
| Feb 23, 2012 | ||||
| Feb 28, 2011 | ||||
| Feb 26, 2010 | ||||
| Feb 26, 2009 | ||||
| Feb 28, 2008 | ||||
| Feb 21, 2007 | ||||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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)
Coca-Cola Co., P/BV, long-term trends, comparison to sector (food, beverage & tobacco)
| Coca-Cola Co. | Food, Beverage & Tobacco | |
|---|---|---|
| Feb 20, 2026 | ||
| Feb 20, 2025 | ||
| Feb 20, 2024 | ||
| Feb 21, 2023 | ||
| Feb 22, 2022 | ||
| Feb 25, 2021 | ||
| Feb 24, 2020 | ||
| Feb 21, 2019 | ||
| Feb 23, 2018 | ||
| Feb 24, 2017 | ||
| Feb 25, 2016 | ||
| Feb 25, 2015 | ||
| Feb 27, 2014 | ||
| Feb 27, 2013 | ||
| Feb 23, 2012 | ||
| Feb 28, 2011 | ||
| Feb 26, 2010 | ||
| Feb 26, 2009 | ||
| Feb 28, 2008 | ||
| Feb 21, 2007 | ||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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)
Coca-Cola Co., P/BV, long-term trends, comparison to industry (consumer staples)
| Coca-Cola Co. | Consumer Staples | |
|---|---|---|
| Feb 20, 2026 | ||
| Feb 20, 2025 | ||
| Feb 20, 2024 | ||
| Feb 21, 2023 | ||
| Feb 22, 2022 | ||
| Feb 25, 2021 | ||
| Feb 24, 2020 | ||
| Feb 21, 2019 | ||
| Feb 23, 2018 | ||
| Feb 24, 2017 | ||
| Feb 25, 2016 | ||
| Feb 25, 2015 | ||
| Feb 27, 2014 | ||
| Feb 27, 2013 | ||
| Feb 23, 2012 | ||
| Feb 28, 2011 | ||
| Feb 26, 2010 | ||
| Feb 26, 2009 | ||
| Feb 28, 2008 | ||
| Feb 21, 2007 | ||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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).