Price to Book Value (P/BV)
since 2005
Calculation
Colgate-Palmolive Co., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Colgate-Palmolive Company shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 16, 2023 | 150.69 | = | 72.77 | ÷ | 0.48 | 0.48 | = | 401 | ÷ | 830,378,790 | |
| Feb 17, 2022 | 109.24 | = | 79.15 | ÷ | 0.72 | 0.72 | = | 609 | ÷ | 840,487,222 | |
| Feb 18, 2021 | 89.90 | = | 78.72 | ÷ | 0.88 | 0.88 | = | 743 | ÷ | 848,562,678 | |
| Feb 21, 2020 | 557.38 | = | 76.27 | ÷ | 0.14 | 0.14 | = | 117 | ÷ | 855,029,777 | |
| Feb 21, 2019 | — | = | 66.70 | ÷ | -0.12 | -0.12 | = | -102 | ÷ | 861,676,494 | |
| Feb 15, 2018 | — | = | 71.22 | ÷ | -0.07 | -0.07 | = | -60 | ÷ | 875,326,736 | |
| Feb 23, 2017 | — | = | 74.44 | ÷ | -0.28 | -0.28 | = | -243 | ÷ | 882,856,721 | |
| Feb 18, 2016 | — | = | 67.22 | ÷ | -0.33 | -0.33 | = | -299 | ÷ | 892,738,516 | |
| Feb 19, 2015 | 55.62 | = | 70.21 | ÷ | 1.26 | 1.26 | = | 1,145 | ÷ | 907,081,762 | |
| Feb 20, 2014 | 24.66 | = | 61.86 | ÷ | 2.51 | 2.51 | = | 2,305 | ÷ | 918,943,637 | |
| Feb 21, 2013 | 24.16 | = | 56.55 | ÷ | 2.34 | 2.34 | = | 2,189 | ÷ | 935,393,422 | |
| Feb 23, 2012 | 18.85 | = | 46.67 | ÷ | 2.48 | 2.48 | = | 2,375 | ÷ | 959,155,180 | |
| Feb 24, 2011 | 14.34 | = | 38.83 | ÷ | 2.71 | 2.71 | = | 2,675 | ÷ | 987,742,398 | |
| Feb 25, 2010 | 13.17 | = | 41.56 | ÷ | 3.16 | 3.16 | = | 3,116 | ÷ | 987,494,358 | |
| Feb 27, 2009 | 15.70 | = | 30.09 | ÷ | 1.92 | 1.92 | = | 1,922 | ÷ | 1,002,633,842 | |
| Feb 28, 2008 | 17.22 | = | 38.61 | ÷ | 2.24 | 2.24 | = | 2,286 | ÷ | 1,019,641,540 | |
| Feb 23, 2007 | 24.87 | = | 34.17 | ÷ | 1.37 | 1.37 | = | 1,411 | ÷ | 1,026,827,590 | |
| Feb 24, 2006 | 20.85 | = | 27.31 | ÷ | 1.31 | 1.31 | = | 1,350 | ÷ | 1,030,712,770 |
Based on: 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 Colgate-Palmolive Co. Annual Report.
The financial trajectory over the analyzed period reveals a significant divergence between market valuation and the accounting book value, moving from a period of relative stability to one of extreme valuation multiples.
- Share Price Trends
- A consistent long-term appreciation in share price is observed, increasing from 27.31 US$ in 2006 to a peak of 79.15 US$ in 2022, before ending the period at 72.77 US$ in 2023.
- Book Value per Share (BVPS) Volatility
- BVPS demonstrated an initial growth phase, peaking at 3.16 US$ in 2010. This was followed by a period of erosion beginning in 2011, culminating in negative book values from 2016 through 2019, with a low of -0.33 US$ in 2016. A recovery into positive territory began in 2020, with BVPS reaching 0.48 US$ by 2023.
- Price to Book Value (P/BV) Ratio Analysis
- From 2006 to 2014, the P/BV ratio remained relatively constrained, fluctuating between 13.17 and 24.87. Following the interval of negative equity, the ratio returned in 2020 at an exceptional level of 557.38. While this figure moderated in subsequent years, the ratio remained historically high, concluding at 150.69 in 2023.
The pronounced escalation of the P/BV ratio in the latter part of the sequence indicates a valuation that is almost entirely decoupled from the company's net accounting assets. Such a pattern suggests that market participants are valuing the entity based on intangible assets, brand equity, or future earnings potential rather than tangible book value, which has remained depleted relative to the share price.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Colgate-Palmolive Co., P/BV, long-term trends, comparison to competitors
| Colgate-Palmolive Co. | Procter & Gamble Co. | |
|---|---|---|
| Feb 16, 2023 | 150.69 | 7.42 |
| Feb 17, 2022 | 109.24 | 7.40 |
| Feb 18, 2021 | 89.90 | 7.09 |
| Feb 21, 2020 | 557.38 | 6.06 |
| Feb 21, 2019 | — | 3.93 |
| Feb 15, 2018 | — | 4.23 |
| Feb 23, 2017 | — | 4.00 |
| Feb 18, 2016 | — | 3.28 |
| Feb 19, 2015 | 55.62 | 3.17 |
| Feb 20, 2014 | 24.66 | 3.31 |
| Feb 21, 2013 | 24.16 | 2.90 |
| Feb 23, 2012 | 18.85 | 2.38 |
| Feb 24, 2011 | 14.34 | 2.78 |
| Feb 25, 2010 | 13.17 | 2.42 |
| Feb 27, 2009 | 15.70 | 3.10 |
| Feb 28, 2008 | 17.22 | 3.02 |
| Feb 23, 2007 | 24.87 | 3.09 |
| Feb 24, 2006 | 20.85 | 7.84 |
Based on: 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)
Colgate-Palmolive Co., P/BV, long-term trends, comparison to industry (consumer staples)
| Colgate-Palmolive Co. | Consumer Staples | |
|---|---|---|
| Feb 16, 2023 | 150.69 | 8.11 |
| Feb 17, 2022 | 109.24 | 8.15 |
| Feb 18, 2021 | 89.90 | 7.44 |
| Feb 21, 2020 | 557.38 | 7.21 |
| Feb 21, 2019 | — | 5.76 |
| Feb 15, 2018 | — | 5.70 |
| Feb 23, 2017 | — | 5.35 |
| Feb 18, 2016 | — | 5.06 |
| Feb 19, 2015 | 55.62 | 4.55 |
| Feb 20, 2014 | 24.66 | 4.08 |
| Feb 21, 2013 | 24.16 | 3.89 |
| Feb 23, 2012 | 18.85 | 3.50 |
| Feb 24, 2011 | 14.34 | 3.45 |
| Feb 25, 2010 | 13.17 | 3.38 |
| Feb 27, 2009 | 15.70 | 3.48 |
| Feb 28, 2008 | 17.22 | 3.56 |
| Feb 23, 2007 | 24.87 | 3.66 |
| Feb 24, 2006 | 20.85 | 4.47 |
Based on: 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).