Price to Book Value (P/BV)
since 2005
Calculation
HP Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total HP stockholders’ equity (deficit)1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 13, 2018 | — | = | 22.29 | ÷ | -0.41 | -0.41 | = | -639 | ÷ | 1,553,494,507 | |
| Dec 14, 2017 | — | = | 20.74 | ÷ | -2.07 | -2.07 | = | -3,408 | ÷ | 1,645,228,387 | |
| Dec 15, 2016 | — | = | 15.51 | ÷ | -2.28 | -2.28 | = | -3,889 | ÷ | 1,705,451,042 | |
| Dec 16, 2015 | 0.79 | = | 12.26 | ÷ | 15.50 | 15.50 | = | 27,768 | ÷ | 1,791,848,366 | |
| Dec 18, 2014 | 2.73 | = | 39.82 | ÷ | 14.57 | 14.57 | = | 26,731 | ÷ | 1,834,081,993 | |
| Dec 30, 2013 | 1.96 | = | 28.07 | ÷ | 14.29 | 14.29 | = | 27,269 | ÷ | 1,908,777,048 | |
| Dec 27, 2012 | 1.22 | = | 14.04 | ÷ | 11.52 | 11.52 | = | 22,436 | ÷ | 1,948,148,051 | |
| Dec 14, 2011 | 1.36 | = | 26.38 | ÷ | 19.47 | 19.47 | = | 38,625 | ÷ | 1,984,033,497 | |
| Dec 15, 2010 | 2.23 | = | 41.23 | ÷ | 18.47 | 18.47 | = | 40,449 | ÷ | 2,190,425,610 | |
| Dec 17, 2009 | 2.95 | = | 50.56 | ÷ | 17.14 | 17.14 | = | 40,517 | ÷ | 2,364,168,918 | |
| Dec 18, 2008 | 2.19 | = | 35.37 | ÷ | 16.12 | 16.12 | = | 38,942 | ÷ | 2,416,201,335 | |
| Dec 18, 2007 | 3.41 | = | 51.02 | ÷ | 14.97 | 14.97 | = | 38,526 | ÷ | 2,573,868,626 | |
| Dec 22, 2006 | 2.90 | = | 40.63 | ÷ | 14.02 | 14.02 | = | 38,144 | ÷ | 2,720,808,149 | |
| Dec 21, 2005 | 2.20 | = | 28.77 | ÷ | 13.10 | 13.10 | = | 37,176 | ÷ | 2,837,653,721 |
Based on: 10-K (reporting date: 2018-10-31), 10-K (reporting date: 2017-10-31), 10-K (reporting date: 2016-10-31), 10-K (reporting date: 2015-10-31), 10-K (reporting date: 2014-10-31), 10-K (reporting date: 2013-10-31), 10-K (reporting date: 2012-10-31), 10-K (reporting date: 2011-10-31), 10-K (reporting date: 2010-10-31), 10-K (reporting date: 2009-10-31), 10-K (reporting date: 2008-10-31), 10-K (reporting date: 2007-10-31), 10-K (reporting date: 2006-10-31), 10-K (reporting date: 2005-10-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of HP Inc. Annual Report.
- Share Price
- The share price exhibited considerable fluctuations over the observed period. It started at $28.77 and generally increased reaching a peak of $51.02 in 2007, followed by a decline to $14.04 in 2012. There was a moderate recovery afterward, with the price increasing to $39.82 in 2014, but then it decreased sharply to $12.26 in 2015. In the final years, it showed a slight upward trend, closing at $22.29 in 2018.
- Book Value Per Share (BVPS)
- BVPS showed an upward trend from $13.10 in 2005 to a peak of $19.47 in 2011. However, after 2011, there was a significant decline with values turning negative from 2016 onward, reaching -$0.41 in 2018. This indicates a notable deterioration in the company's net asset value per share during the latter part of the period.
- Price to Book Value Ratio (P/BV)
- The P/BV ratio started at 2.2 in 2005 and generally increased to a high of 3.41 in 2007, then declined to 1.22 by 2012. After rising again to 2.73 in 2014, the ratio dropped significantly to 0.79 in 2015. Data is missing for subsequent years, but the downward trend prior to the missing data suggests valuation challenges relative to book value during the later years.
- Summary of Trends and Insights
- Overall, the share price shows volatility with peaks and troughs, lacking a consistent upward or downward trajectory. The increasing BVPS until 2011 suggests growth in net assets, but the subsequent decline and negative values signal financial difficulties or impairments affecting the company's equity. The P/BV ratio's fluctuations reflect changing market perceptions relative to net asset value, with the sharp decline coinciding with negative BVPS values indicating increased market risk or lowered investor confidence. These patterns suggest that while the company experienced growth and value appreciation early on, it faced significant operational or financial challenges in the latter years covered by the data.
Comparison to Competitors
HP Inc., P/BV, long-term trends, comparison to competitors
| HP Inc. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Dec 13, 2018 | — | 8.93 | 9.33 | 5.00 | — | 1.33 |
| Dec 14, 2017 | — | 6.61 | 11.10 | 2.38 | — | 1.28 |
| Dec 15, 2016 | — | 4.81 | 7.63 | 2.48 | — | 1.44 |
| Dec 16, 2015 | 0.79 | 5.57 | 5.86 | 2.23 | — | 2.08 |
| Dec 18, 2014 | 2.73 | 5.53 | 8.22 | 2.24 | — | 2.56 |
| Dec 30, 2013 | 1.96 | 3.82 | — | 2.19 | — | 1.51 |
| Dec 27, 2012 | 1.22 | 4.74 | — | 1.97 | — | 1.63 |
| Dec 14, 2011 | 1.36 | 4.86 | — | 1.86 | — | 1.78 |
| Dec 15, 2010 | 2.23 | 5.91 | — | 2.73 | — | 1.64 |
| Dec 17, 2009 | 2.95 | 6.39 | — | 3.46 | — | 1.56 |
| Dec 18, 2008 | 2.19 | 4.37 | — | 3.83 | — | 2.20 |
| Dec 18, 2007 | 3.41 | 9.90 | — | 6.20 | — | 2.20 |
| Dec 22, 2006 | 2.90 | 7.30 | — | 5.80 | — | — |
| Dec 21, 2005 | 2.20 | 8.09 | — | 4.92 | — | — |
Based on: 10-K (reporting date: 2018-10-31), 10-K (reporting date: 2017-10-31), 10-K (reporting date: 2016-10-31), 10-K (reporting date: 2015-10-31), 10-K (reporting date: 2014-10-31), 10-K (reporting date: 2013-10-31), 10-K (reporting date: 2012-10-31), 10-K (reporting date: 2011-10-31), 10-K (reporting date: 2010-10-31), 10-K (reporting date: 2009-10-31), 10-K (reporting date: 2008-10-31), 10-K (reporting date: 2007-10-31), 10-K (reporting date: 2006-10-31), 10-K (reporting date: 2005-10-31).
Comparison to Sector (Technology Hardware & Equipment)
HP Inc., P/BV, long-term trends, comparison to sector (technology hardware & equipment)
| HP Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Dec 13, 2018 | — | 7.79 |
| Dec 14, 2017 | — | 5.24 |
| Dec 15, 2016 | — | 4.05 |
| Dec 16, 2015 | 0.79 | 4.46 |
| Dec 18, 2014 | 2.73 | 4.43 |
| Dec 30, 2013 | 1.96 | 3.29 |
| Dec 27, 2012 | 1.22 | 3.89 |
| Dec 14, 2011 | 1.36 | 3.71 |
| Dec 15, 2010 | 2.23 | 4.38 |
| Dec 17, 2009 | 2.95 | 4.68 |
| Dec 18, 2008 | 2.19 | 4.03 |
| Dec 18, 2007 | 3.41 | 7.36 |
| Dec 22, 2006 | 2.90 | 6.24 |
| Dec 21, 2005 | 2.20 | 5.69 |
Based on: 10-K (reporting date: 2018-10-31), 10-K (reporting date: 2017-10-31), 10-K (reporting date: 2016-10-31), 10-K (reporting date: 2015-10-31), 10-K (reporting date: 2014-10-31), 10-K (reporting date: 2013-10-31), 10-K (reporting date: 2012-10-31), 10-K (reporting date: 2011-10-31), 10-K (reporting date: 2010-10-31), 10-K (reporting date: 2009-10-31), 10-K (reporting date: 2008-10-31), 10-K (reporting date: 2007-10-31), 10-K (reporting date: 2006-10-31), 10-K (reporting date: 2005-10-31).
Comparison to Industry (Information Technology)
HP Inc., P/BV, long-term trends, comparison to industry (information technology)
| HP Inc. | Information Technology | |
|---|---|---|
| Dec 13, 2018 | — | 7.05 |
| Dec 14, 2017 | — | 5.49 |
| Dec 15, 2016 | — | 4.55 |
| Dec 16, 2015 | 0.79 | 4.33 |
| Dec 18, 2014 | 2.73 | 4.38 |
| Dec 30, 2013 | 1.96 | 3.52 |
| Dec 27, 2012 | 1.22 | 3.77 |
| Dec 14, 2011 | 1.36 | 4.01 |
| Dec 15, 2010 | 2.23 | 4.18 |
| Dec 17, 2009 | 2.95 | 4.34 |
| Dec 18, 2008 | 2.19 | 4.02 |
| Dec 18, 2007 | 3.41 | 8.70 |
| Dec 22, 2006 | 2.90 | 7.25 |
| Dec 21, 2005 | 2.20 | 7.43 |
Based on: 10-K (reporting date: 2018-10-31), 10-K (reporting date: 2017-10-31), 10-K (reporting date: 2016-10-31), 10-K (reporting date: 2015-10-31), 10-K (reporting date: 2014-10-31), 10-K (reporting date: 2013-10-31), 10-K (reporting date: 2012-10-31), 10-K (reporting date: 2011-10-31), 10-K (reporting date: 2010-10-31), 10-K (reporting date: 2009-10-31), 10-K (reporting date: 2008-10-31), 10-K (reporting date: 2007-10-31), 10-K (reporting date: 2006-10-31), 10-K (reporting date: 2005-10-31).