Price to Book Value (P/BV)
since 2005
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GE Aerospace pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
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Calculation
GE Aerospace, P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 3, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 2, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 3, 2006 | = | ÷ | = | ÷ |
Based on: 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 GE Aerospace Annual Report.
The analysis of the share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the examined periods reveals several noteworthy trends and patterns.
- Share Price
- The share price exhibited considerable volatility during the period. Initially, it remained relatively stable around the mid-200s, reaching a peak near 277 US$ in early 2007. Subsequently, there was a sharp decline to around 86.88 US$ by early 2009, likely reflecting adverse market conditions or company-specific challenges. Following this trough, the share price recovered steadily, peaking again above 240 US$ in early 2017. However, from 2017 to 2019, the price again dropped significantly, reaching a low of 81.29 US$ in early 2023, before rising sharply to 204.11 US$ by early 2025. This pattern suggests cyclical market pressures or business performance fluctuations.
- Book Value Per Share (BVPS)
- The BVPS showed an overall declining trend across the timeline. From an initial value of 83.93 US$ in 2006, it increased slightly to 92.58 US$ by 2008 before experiencing a steady decline. The BVPS fell continuously, reaching a low of 18.02 US$ in early 2025. This steady decrease over nearly two decades indicates diminishing net asset value per share, which might reflect asset write-downs, accumulated losses, or significant restructuring impacts.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio fluctuated widely during the period, starting at around 3.15 in 2006, maintaining values close to 3 until the financial crisis period in 2009 when it dropped sharply to 1.1. After recovery, the ratio varied between roughly 1.5 and 3.5 from 2010 to 2017, indicating moderate share price valuation relative to book value. Post-2017, despite the declining BVPS, the ratio increased markedly, peaking at 11.33 in 2025. This sharp rise suggests that the market price grew disproportionately relative to book value, potentially reflecting higher growth expectations, improved profitability, or investor speculation despite weakening book value fundamentals.
Comparison to Competitors
GE Aerospace, P/BV, long-term trends, comparison to competitors
| GE Aerospace | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Feb 3, 2025 | |||||||
| Feb 2, 2024 | |||||||
| Feb 10, 2023 | |||||||
| Feb 11, 2022 | |||||||
| Feb 12, 2021 | |||||||
| Feb 24, 2020 | |||||||
| Feb 26, 2019 | |||||||
| Feb 23, 2018 | |||||||
| Feb 24, 2017 | |||||||
| Feb 26, 2016 | |||||||
| Feb 27, 2015 | |||||||
| Feb 27, 2014 | |||||||
| Feb 26, 2013 | |||||||
| Feb 24, 2012 | |||||||
| Feb 25, 2011 | |||||||
| Feb 19, 2010 | |||||||
| Feb 18, 2009 | |||||||
| Feb 20, 2008 | |||||||
| Feb 27, 2007 | |||||||
| Mar 3, 2006 |
Based on: 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 (Capital Goods)
GE Aerospace, P/BV, long-term trends, comparison to sector (capital goods)
| GE Aerospace | Capital Goods | |
|---|---|---|
| Feb 3, 2025 | ||
| Feb 2, 2024 | ||
| Feb 10, 2023 | ||
| Feb 11, 2022 | ||
| Feb 12, 2021 | ||
| Feb 24, 2020 | ||
| Feb 26, 2019 | ||
| Feb 23, 2018 | ||
| Feb 24, 2017 | ||
| Feb 26, 2016 | ||
| Feb 27, 2015 | ||
| Feb 27, 2014 | ||
| Feb 26, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 19, 2010 | ||
| Feb 18, 2009 | ||
| Feb 20, 2008 | ||
| Feb 27, 2007 | ||
| Mar 3, 2006 |
Based on: 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 (Industrials)
GE Aerospace, P/BV, long-term trends, comparison to industry (industrials)
| GE Aerospace | Industrials | |
|---|---|---|
| Feb 3, 2025 | ||
| Feb 2, 2024 | ||
| Feb 10, 2023 | ||
| Feb 11, 2022 | ||
| Feb 12, 2021 | ||
| Feb 24, 2020 | ||
| Feb 26, 2019 | ||
| Feb 23, 2018 | ||
| Feb 24, 2017 | ||
| Feb 26, 2016 | ||
| Feb 27, 2015 | ||
| Feb 27, 2014 | ||
| Feb 26, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 19, 2010 | ||
| Feb 18, 2009 | ||
| Feb 20, 2008 | ||
| Feb 27, 2007 | ||
| Mar 3, 2006 |
Based on: 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).