Price to Book Value (P/BV)
since 2005
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Home Depot Inc. pages available for free this week:
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Current Ratio since 2005
- Analysis of Revenues
- Aggregate Accruals
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Calculation
Home Depot Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity (deficit)1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 21, 2025 | = | ÷ | = | ÷ | |||||||
| Mar 13, 2024 | = | ÷ | = | ÷ | |||||||
| Mar 15, 2023 | = | ÷ | = | ÷ | |||||||
| Mar 23, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 24, 2021 | = | ÷ | = | ÷ | |||||||
| Mar 25, 2020 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2019 | = | ÷ | = | ÷ | |||||||
| Mar 22, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 23, 2017 | = | ÷ | = | ÷ | |||||||
| Mar 24, 2016 | = | ÷ | = | ÷ | |||||||
| Mar 26, 2015 | = | ÷ | = | ÷ | |||||||
| Mar 27, 2014 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2013 | = | ÷ | = | ÷ | |||||||
| Mar 22, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 24, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 25, 2010 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2009 | = | ÷ | = | ÷ | |||||||
| Apr 3, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 29, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 29, 2006 | = | ÷ | = | ÷ | |||||||
| Apr 11, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Home Depot Inc. Annual Report.
The data shows a comprehensive overview of the share price, book value per share (BVPS), and price-to-book value ratio (P/BV) for the company over a period from 2005 to 2025. Several important trends and patterns are evident from the information presented.
- Share Price
- The share price generally exhibits an upward trajectory over the two-decade timeframe. Starting at $37.74 in 2005, there is a decline observed until 2009, reaching around $24.77. Following this dip, the share price steadily recovers and accelerates, steered by notable increases particularly from 2010 onwards, peaking at $378.99 in 2024. A slight dip to $351.15 is noted in the final year 2025, indicating some volatility toward the end of the period.
- Book Value per Share (BVPS)
- BVPS starts at $11.19 in 2005 and remains relatively stable until 2007 at $12.71. A gradual decline begins post-2007, with a downward trend continuing sharply after 2012, even turning negative around 2019 and 2020 (reaching approximately -$2.9). This indicates that the company experienced a period of reduced equity value per share. There is a recovery trend noticeable after 2020, increasing again to positive values, peaking at $6.68 in 2025, which suggests some restoration of equity value in recent years.
- Price-to-Book Value Ratio (P/BV)
- This ratio trends upward with some fluctuations. From around 3.37 in 2005, the P/BV ratio increases significantly over the years, peaking dramatically at 139.52 in 2018, with some missing values in between that limit complete trend analysis. This extraordinarily high ratio indicates the market priced the company at a substantial premium relative to its book value, especially during periods when BVPS was near zero or negative. Later years show extreme volatility; for example, a sharp spike to 359.76 in 2024 followed by a decline to 52.57 in 2025. These pronounced variations underscore the shifting investor perceptions and possibly reflect market speculation or changes in financial fundamentals.
Overall, the share price appreciation has outpaced growth in book value per share, which exhibits a more volatile and negative trend during certain periods. The large and fluctuating price-to-book ratio reinforces this divergence, suggesting that market valuation at times has been heavily influenced by factors beyond the underlying book value, possibly including expectations of future growth, profitability, or other market conditions. The recent improvement in BVPS after a period of decline may signal recovery or restructuring efforts that have begun to restore shareholder equity.
Comparison to Competitors
Home Depot Inc., P/BV, long-term trends, comparison to competitors
| Home Depot Inc. | Amazon.com Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|
| Mar 21, 2025 | ||||
| Mar 13, 2024 | ||||
| Mar 15, 2023 | ||||
| Mar 23, 2022 | ||||
| Mar 24, 2021 | ||||
| Mar 25, 2020 | ||||
| Mar 28, 2019 | ||||
| Mar 22, 2018 | ||||
| Mar 23, 2017 | ||||
| Mar 24, 2016 | ||||
| Mar 26, 2015 | ||||
| Mar 27, 2014 | ||||
| Mar 28, 2013 | ||||
| Mar 22, 2012 | ||||
| Mar 24, 2011 | ||||
| Mar 25, 2010 | ||||
| Apr 2, 2009 | ||||
| Apr 3, 2008 | ||||
| Mar 29, 2007 | ||||
| Mar 29, 2006 | ||||
| Apr 11, 2005 |
Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
Home Depot Inc., P/BV, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| Home Depot Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Mar 21, 2025 | ||
| Mar 13, 2024 | ||
| Mar 15, 2023 | ||
| Mar 23, 2022 | ||
| Mar 24, 2021 | ||
| Mar 25, 2020 | ||
| Mar 28, 2019 | ||
| Mar 22, 2018 | ||
| Mar 23, 2017 | ||
| Mar 24, 2016 | ||
| Mar 26, 2015 | ||
| Mar 27, 2014 | ||
| Mar 28, 2013 | ||
| Mar 22, 2012 | ||
| Mar 24, 2011 | ||
| Mar 25, 2010 | ||
| Apr 2, 2009 | ||
| Apr 3, 2008 | ||
| Mar 29, 2007 | ||
| Mar 29, 2006 | ||
| Apr 11, 2005 |
Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).
Comparison to Industry (Consumer Discretionary)
Home Depot Inc., P/BV, long-term trends, comparison to industry (consumer discretionary)
| Home Depot Inc. | Consumer Discretionary | |
|---|---|---|
| Mar 21, 2025 | ||
| Mar 13, 2024 | ||
| Mar 15, 2023 | ||
| Mar 23, 2022 | ||
| Mar 24, 2021 | ||
| Mar 25, 2020 | ||
| Mar 28, 2019 | ||
| Mar 22, 2018 | ||
| Mar 23, 2017 | ||
| Mar 24, 2016 | ||
| Mar 26, 2015 | ||
| Mar 27, 2014 | ||
| Mar 28, 2013 | ||
| Mar 22, 2012 | ||
| Mar 24, 2011 | ||
| Mar 25, 2010 | ||
| Apr 2, 2009 | ||
| Apr 3, 2008 | ||
| Mar 29, 2007 | ||
| Mar 29, 2006 | ||
| Apr 11, 2005 |
Based on: 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03), 10-K (reporting date: 2018-01-28), 10-K (reporting date: 2017-01-29), 10-K (reporting date: 2016-01-31), 10-K (reporting date: 2015-02-01), 10-K (reporting date: 2014-02-02), 10-K (reporting date: 2013-02-03), 10-K (reporting date: 2012-01-29), 10-K (reporting date: 2011-01-30), 10-K (reporting date: 2010-01-31), 10-K (reporting date: 2009-02-01), 10-K (reporting date: 2008-02-03), 10-K (reporting date: 2007-01-28), 10-K (reporting date: 2006-01-29), 10-K (reporting date: 2005-01-30).