Price to Book Value (P/BV)
since 2005
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General Dynamics Corp. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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Calculation
General Dynamics Corp., 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 10, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 3, 2006 | = | ÷ | = | ÷ |
Based on: 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 General Dynamics Corp. Annual Report.
- Share Price
- The share price experienced notable fluctuations over the observed period. Initially, there was an upward trend from approximately $63.91 in early 2006 to around $83.65 by early 2008. This was followed by a sharp decline to about $50.82 in early 2009, likely influenced by broader market conditions during that time. Subsequently, the share price generally increased, reaching a peak of $209.53 in early 2018. A slight decline occurred thereafter, with values stabilizing around $186 by early 2020.
- Book Value Per Share (BVPS)
- Book value per share showed a steady increase over the analysis period. Starting from $20.35 in 2006, it rose to $29.26 by early 2008 before experiencing a minor dip in 2009 at $26.04, mirroring the share price pattern. From 2010 onward, BVPS generally trended upward, peaking at $46.88 in early 2020. Fluctuations in the mid-period, such as in 2013 and 2015, indicated some variability but did not disrupt the overall growth trajectory.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio demonstrated considerable volatility throughout the timeframe. Initially, it remained relatively stable, fluctuating between approximately 1.91 and 3.26 from 2006 to 2010. Post-2010, the ratio increased significantly, reaching highs above 5 in 2017 and 2018, indicating that the market price was trading at a strong premium relative to book value. After peaking, the ratio declined somewhat but remained elevated above 3.9 through early 2020, suggesting continued market optimism or perceived growth potential beyond book value.
- Overall Trends and Insights
- The data reveals that while both share price and book value per share increased over the long term, the share price exhibited greater variability, particularly during economic downturns. The sharp rise in the P/BV ratio after 2010 suggests increased investor confidence or expectations for growth, resulting in the share price increasing at a faster rate than the underlying book value. This divergence could imply heightened market valuation multiples or speculative interests during the latter half of the decade.
Comparison to Competitors
General Dynamics Corp., P/BV, long-term trends, comparison to competitors
| General Dynamics Corp. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Feb 10, 2020 | ||||||||
| Feb 13, 2019 | ||||||||
| Feb 12, 2018 | ||||||||
| Feb 6, 2017 | ||||||||
| Feb 8, 2016 | ||||||||
| Feb 9, 2015 | ||||||||
| Feb 7, 2014 | ||||||||
| Feb 8, 2013 | ||||||||
| Feb 17, 2012 | ||||||||
| Feb 18, 2011 | ||||||||
| Feb 19, 2010 | ||||||||
| Feb 20, 2009 | ||||||||
| Feb 22, 2008 | ||||||||
| Feb 23, 2007 | ||||||||
| Mar 3, 2006 |
Based on: 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)
General Dynamics Corp., P/BV, long-term trends, comparison to sector (capital goods)
| General Dynamics Corp. | Capital Goods | |
|---|---|---|
| Feb 10, 2020 | ||
| Feb 13, 2019 | ||
| Feb 12, 2018 | ||
| Feb 6, 2017 | ||
| Feb 8, 2016 | ||
| Feb 9, 2015 | ||
| Feb 7, 2014 | ||
| Feb 8, 2013 | ||
| Feb 17, 2012 | ||
| Feb 18, 2011 | ||
| Feb 19, 2010 | ||
| Feb 20, 2009 | ||
| Feb 22, 2008 | ||
| Feb 23, 2007 | ||
| Mar 3, 2006 |
Based on: 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)
General Dynamics Corp., P/BV, long-term trends, comparison to industry (industrials)
| General Dynamics Corp. | Industrials | |
|---|---|---|
| Feb 10, 2020 | ||
| Feb 13, 2019 | ||
| Feb 12, 2018 | ||
| Feb 6, 2017 | ||
| Feb 8, 2016 | ||
| Feb 9, 2015 | ||
| Feb 7, 2014 | ||
| Feb 8, 2013 | ||
| Feb 17, 2012 | ||
| Feb 18, 2011 | ||
| Feb 19, 2010 | ||
| Feb 20, 2009 | ||
| Feb 22, 2008 | ||
| Feb 23, 2007 | ||
| Mar 3, 2006 |
Based on: 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).