Price to Book Value (P/BV)
since 2015
Calculation
Hewlett Packard Enterprise Co., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total HPE stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 22, 2023 | 1.05 | = | 17.09 | ÷ | 16.29 | 16.29 | = | 21,182 | ÷ | 1,300,000,000 | |
| Dec 8, 2022 | 1.05 | = | 16.29 | ÷ | 15.50 | 15.50 | = | 19,864 | ÷ | 1,281,816,851 | |
| Dec 10, 2021 | 0.99 | = | 15.21 | ÷ | 15.44 | 15.44 | = | 19,971 | ÷ | 1,293,439,907 | |
| Dec 10, 2020 | 0.98 | = | 12.12 | ÷ | 12.41 | 12.41 | = | 16,049 | ÷ | 1,293,499,810 | |
| Dec 13, 2019 | 1.21 | = | 16.03 | ÷ | 13.22 | 13.22 | = | 17,098 | ÷ | 1,292,925,893 | |
| Dec 12, 2018 | 0.96 | = | 14.64 | ÷ | 15.19 | 15.19 | = | 21,239 | ÷ | 1,398,678,425 | |
| Dec 15, 2017 | 0.98 | = | 14.41 | ÷ | 14.72 | 14.72 | = | 23,466 | ÷ | 1,593,885,581 | |
| Dec 15, 2016 | 1.26 | = | 23.73 | ÷ | 18.89 | 18.89 | = | 31,448 | ÷ | 1,664,817,197 | |
| Dec 17, 2015 | 0.74 | = | 14.31 | ÷ | 19.25 | 19.25 | = | 33,535 | ÷ | 1,742,520,126 |
Based on: 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31), 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).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Hewlett Packard Enterprise Co. Annual Report.
The valuation of the equity over the period from 2015 to 2023 is characterized by significant volatility in both share price and book value per share, resulting in a Price to Book Value (P/BV) ratio that frequently oscillated around the 1.0 threshold.
- Price to Book Value (P/BV) Trend
- The P/BV ratio exhibited substantial fluctuations in the early part of the period, starting at a low of 0.74 in 2015 and peaking at 1.26 in 2016. After a period of trading below book value between 2017 and 2018, the ratio spiked again to 1.21 in 2019. Since 2020, a pattern of stabilization is observed, with the ratio moving from 0.98 upward to a consistent 1.05 by 2023, suggesting that the market valuation has converged with the accounting value of the assets.
- Book Value per Share (BVPS) Evolution
- A contraction in the book value per share occurred between 2015 and 2020, with the value declining from $19.25 to a period low of $12.41. This downward trend reversed after 2020, showing a steady recovery over three years to reach $16.29 by December 2023. This recovery indicates an increase in the net asset value attributable to each share of common stock.
- Share Price Volatility
- The share price demonstrated high variance, notably peaking at $23.73 in 2016 before experiencing a sharp decline. The lowest valuation was recorded in December 2020 at $12.12. Following this trough, a consistent upward trajectory is evident, with the price increasing annually to close at $17.09 in 2023. The correlation between the recovering share price and the recovering BVPS has contributed to the stabilization of the P/BV ratio above 1.0 in the final two years of the analysis.
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
Hewlett Packard Enterprise Co., P/BV, long-term trends, comparison to competitors
| Hewlett Packard Enterprise Co. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|---|
| Dec 22, 2023 | 1.05 | 44.21 | 11.50 | 5.19 | — | 2.62 | 6.85 |
| Dec 8, 2022 | 1.05 | 48.89 | 8.87 | 4.69 | — | 3.31 | 2.54 |
| Dec 10, 2021 | 0.99 | 38.96 | 10.05 | 5.99 | 27.38 | 3.19 | 1.65 |
| Dec 10, 2020 | 0.98 | 28.33 | 7.15 | 4.57 | — | 3.61 | 1.35 |
| Dec 13, 2019 | 1.21 | 12.21 | 5.91 | 6.12 | — | 2.77 | 1.21 |
| Dec 12, 2018 | 0.96 | 8.93 | 9.33 | 5.00 | — | 4.66 | 1.33 |
| Dec 15, 2017 | 0.98 | 6.61 | 11.10 | 2.38 | — | 5.57 | 1.28 |
| Dec 15, 2016 | 1.26 | 4.81 | 7.63 | 2.48 | — | 4.26 | 1.44 |
| Dec 17, 2015 | 0.74 | 5.57 | 5.86 | 2.23 | — | 2.63 | 2.08 |
Based on: 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31), 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).
Comparison to Sector (Technology Hardware & Equipment)
Hewlett Packard Enterprise Co., P/BV, long-term trends, comparison to sector (technology hardware & equipment)
| Hewlett Packard Enterprise Co. | Technology Hardware & Equipment | |
|---|---|---|
| Dec 22, 2023 | 1.05 | 27.27 |
| Dec 8, 2022 | 1.05 | 28.45 |
| Dec 10, 2021 | 0.99 | 24.77 |
| Dec 10, 2020 | 0.98 | 19.33 |
| Dec 13, 2019 | 1.21 | 11.13 |
| Dec 12, 2018 | 0.96 | 7.77 |
| Dec 15, 2017 | 0.98 | 5.24 |
| Dec 15, 2016 | 1.26 | 4.05 |
| Dec 17, 2015 | 0.74 | 4.45 |
Based on: 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31), 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).
Comparison to Industry (Information Technology)
Hewlett Packard Enterprise Co., P/BV, long-term trends, comparison to industry (information technology)
| Hewlett Packard Enterprise Co. | Information Technology | |
|---|---|---|
| Dec 22, 2023 | 1.05 | 11.29 |
| Dec 8, 2022 | 1.05 | 10.25 |
| Dec 10, 2021 | 0.99 | 12.37 |
| Dec 10, 2020 | 0.98 | 10.94 |
| Dec 13, 2019 | 1.21 | 8.41 |
| Dec 12, 2018 | 0.96 | 7.00 |
| Dec 15, 2017 | 0.98 | 5.46 |
| Dec 15, 2016 | 1.26 | 4.53 |
| Dec 17, 2015 | 0.74 | 4.30 |
Based on: 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31), 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).