Price to Book Value (P/BV)
since 2005
Calculation
EMC Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total EMC Corporation’s shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 25, 2016 | 2.39 | = | 25.93 | ÷ | 10.86 | 10.86 | = | 21,140 | ÷ | 1,947,047,380 | |
| Feb 27, 2015 | 2.63 | = | 28.94 | ÷ | 11.01 | 11.01 | = | 21,896 | ÷ | 1,988,086,911 | |
| Feb 25, 2014 | 2.33 | = | 25.68 | ÷ | 11.01 | 11.01 | = | 22,301 | ÷ | 2,025,633,308 | |
| Feb 27, 2013 | 2.19 | = | 23.28 | ÷ | 10.62 | 10.62 | = | 22,357 | ÷ | 2,104,430,304 | |
| Feb 24, 2012 | 2.98 | = | 27.52 | ÷ | 9.23 | 9.23 | = | 18,959 | ÷ | 2,053,084,362 | |
| Feb 28, 2011 | 3.23 | = | 27.21 | ÷ | 8.41 | 8.41 | = | 17,404 | ÷ | 2,068,593,886 | |
| Feb 26, 2010 | 2.31 | = | 17.49 | ÷ | 7.58 | 7.58 | = | 15,550 | ÷ | 2,052,724,194 | |
| Mar 2, 2009 | 1.56 | = | 10.14 | ÷ | 6.48 | 6.48 | = | 13,042 | ÷ | 2,011,875,734 | |
| Feb 29, 2008 | 2.61 | = | 15.54 | ÷ | 5.96 | 5.96 | = | 12,521 | ÷ | 2,100,569,673 | |
| Feb 27, 2007 | 2.81 | = | 13.75 | ÷ | 4.90 | 4.90 | = | 10,326 | ÷ | 2,108,120,587 | |
| Mar 6, 2006 | 2.79 | = | 14.14 | ÷ | 5.08 | 5.08 | = | 12,065 | ÷ | 2,376,750,510 |
Based on: 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 EMC Corp. Annual Report.
The financial metrics from 2006 to 2016 reveal a consistent expansion of the underlying equity value accompanied by periodic fluctuations in market valuation premiums.
- Book Value per Share (BVPS) Growth
- A steady upward trend in book value per share is evident, increasing from 5.08 US$ in 2006 to a peak of 11.01 US$ in 2014 and 2015. This progression indicates a sustained growth in the company's net asset value over the decade, with a slight decline to 10.86 US$ occurring in 2016.
- Share Price Dynamics
- The share price exhibited significant volatility during the period. After remaining relatively stable between 2006 and 2008, the price reached a period low of 10.14 US$ in 2009. A subsequent recovery led to a peak of 28.94 US$ in 2015, before settling at 25.93 US$ in 2016.
- Price to Book Value (P/BV) Interpretation
- The P/BV ratio varied between 1.56 and 3.23. An initial period of stability was observed from 2006 to 2008, with the ratio holding between 2.61 and 2.81. A sharp contraction occurred in 2009, where the ratio fell to 1.56, marking the lowest market premium over book value in the analyzed timeframe. A recovery followed, peaking at 3.23 in 2011. From 2012 to 2016, the ratio remained more volatile but generally fluctuated within a range of 2.19 to 2.98, suggesting a moderate and varying market confidence in the company's asset utilization and growth prospects.
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Comparison to Competitors
EMC Corp., P/BV, long-term trends, comparison to competitors
| EMC Corp. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Lam Research Corp. | Marvell Technology Inc. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 25, 2016 | 2.39 | — | 3.72 | 2.87 | 8.24 | 2.21 | 19.59 | 2.23 | 1.50 | 1.47 | 2.84 | 2.88 | 5.30 |
| Feb 27, 2015 | 2.63 | 12.72 | 3.64 | 3.80 | 7.98 | 2.91 | 3.26 | 2.29 | 1.65 | 3.22 | 2.19 | 3.28 | 5.94 |
| Feb 25, 2014 | 2.33 | 4.94 | 3.28 | 2.82 | 4.46 | 2.11 | 2.78 | 1.69 | 1.18 | 1.92 | 1.63 | 3.26 | 4.46 |
| Feb 27, 2013 | 2.19 | 3.45 | 2.90 | 1.79 | 3.25 | 2.04 | 2.61 | 1.24 | 1.82 | 0.72 | 2.20 | 2.95 | 3.45 |
| Feb 24, 2012 | 2.98 | 3.28 | 2.62 | 1.65 | 3.51 | 2.90 | 2.11 | 1.80 | 1.85 | 0.64 | 3.27 | 3.25 | 3.48 |
| Feb 28, 2011 | 3.23 | 6.21 | 3.36 | 2.35 | 4.24 | 2.46 | 2.41 | 2.63 | 2.96 | 0.96 | 3.74 | 3.54 | 4.00 |
| Feb 26, 2010 | 2.31 | 8.23 | 3.43 | 2.53 | 3.78 | 2.76 | 2.44 | 2.67 | 1.53 | 1.25 | 2.27 | 3.61 | 3.10 |
| Mar 2, 2009 | 1.56 | — | 2.04 | 1.84 | — | 1.72 | 2.20 | 2.69 | 1.96 | 0.42 | 4.24 | 3.05 | 2.09 |
| Feb 29, 2008 | 2.61 | 1.44 | 3.99 | 3.14 | — | 2.76 | 3.26 | 4.05 | 3.29 | 0.96 | 5.06 | 4.11 | 4.14 |
| Feb 27, 2007 | 2.81 | 1.42 | 3.36 | 3.81 | — | 3.27 | 2.75 | 4.19 | 5.52 | 1.30 | 5.75 | 4.48 | 3.93 |
| Mar 6, 2006 | 2.79 | 5.83 | 3.75 | 3.42 | — | 3.34 | 3.19 | 3.75 | 3.85 | 1.47 | 3.63 | 5.97 | 4.00 |
Based on: 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 (Semiconductors & Semiconductor Equipment)
EMC Corp., P/BV, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| EMC Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Feb 25, 2016 | 2.39 | 2.84 |
| Feb 27, 2015 | 2.63 | 3.36 |
| Feb 25, 2014 | 2.33 | 2.64 |
| Feb 27, 2013 | 2.19 | 2.32 |
| Feb 24, 2012 | 2.98 | 2.71 |
| Feb 28, 2011 | 3.23 | 2.82 |
| Feb 26, 2010 | 2.31 | 2.88 |
| Mar 2, 2009 | 1.56 | 2.07 |
| Feb 29, 2008 | 2.61 | 3.09 |
| Feb 27, 2007 | 2.81 | 3.39 |
| Mar 6, 2006 | 2.79 | 3.77 |
Based on: 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 (Information Technology)
EMC Corp., P/BV, long-term trends, comparison to industry (information technology)
| EMC Corp. | Information Technology | |
|---|---|---|
| Feb 25, 2016 | 2.39 | 4.30 |
| Feb 27, 2015 | 2.63 | 4.36 |
| Feb 25, 2014 | 2.33 | 3.50 |
| Feb 27, 2013 | 2.19 | 3.75 |
| Feb 24, 2012 | 2.98 | 3.98 |
| Feb 28, 2011 | 3.23 | 4.16 |
| Feb 26, 2010 | 2.31 | 4.31 |
| Mar 2, 2009 | 1.56 | 4.00 |
| Feb 29, 2008 | 2.61 | 8.64 |
| Feb 27, 2007 | 2.81 | 7.24 |
| Mar 6, 2006 | 2.79 | 7.40 |
Based on: 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).