International Business Machines Corp. (IBM)
Price to Book Value (P/BV)
since 2005
Difficulty: Beginner
Calculation
International Business Machines Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total IBM stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2005 | 3.80 | = | 80.24 | ÷ | 21.12 | 21.12 | = | 33,098 | ÷ | 1,567,313,082 |
| Dec 31, 2006 | 4.96 | = | 93.96 | ÷ | 18.93 | 18.93 | = | 28,506 | ÷ | 1,505,528,922 |
| Dec 31, 2007 | 5.56 | = | 114.38 | ÷ | 20.57 | 20.57 | = | 28,470 | ÷ | 1,384,330,881 |
| Dec 31, 2008 | 8.61 | = | 86.40 | ÷ | 10.04 | 10.04 | = | 13,465 | ÷ | 1,341,677,786 |
| Dec 31, 2009 | 7.26 | = | 126.46 | ÷ | 17.43 | 17.43 | = | 22,637 | ÷ | 1,299,003,390 |
| Dec 31, 2010 | 8.57 | = | 161.95 | ÷ | 18.90 | 18.90 | = | 23,046 | ÷ | 1,219,536,250 |
| Dec 31, 2011 | 11.39 | = | 197.98 | ÷ | 17.38 | 17.38 | = | 20,138 | ÷ | 1,158,661,712 |
| Dec 31, 2012 | 11.77 | = | 199.14 | ÷ | 16.92 | 16.92 | = | 18,860 | ÷ | 1,114,509,771 |
| Dec 31, 2013 | 8.37 | = | 183.23 | ÷ | 21.89 | 21.89 | = | 22,792 | ÷ | 1,041,340,758 |
| Dec 31, 2014 | 13.73 | = | 164.83 | ÷ | 12.01 | 12.01 | = | 11,868 | ÷ | 988,424,172 |
| Dec 31, 2015 | 8.92 | = | 132.40 | ÷ | 14.84 | 14.84 | = | 14,262 | ÷ | 960,880,915 |
| Dec 31, 2016 | 9.30 | = | 179.82 | ÷ | 19.34 | 19.34 | = | 18,246 | ÷ | 943,212,551 |
| Dec 31, 2017 | 8.20 | = | 156.55 | ÷ | 19.10 | 19.10 | = | 17,594 | ÷ | 921,167,894 |
| Dec 31, 2018 | 7.40 | = | 139.72 | ÷ | 18.87 | 18.87 | = | 16,796 | ÷ | 889,866,256 |
Based on: 10-K (filing date: 2006-02-28), 10-K (filing date: 2007-02-27), 10-K (filing date: 2008-02-26), 10-K (filing date: 2009-02-24), 10-K (filing date: 2010-02-23), 10-K (filing date: 2011-02-22), 10-K (filing date: 2012-02-28), 10-K (filing date: 2013-02-26), 10-K (filing date: 2014-02-25), 10-K (filing date: 2015-02-24), 10-K (filing date: 2016-02-23), 10-K (filing date: 2017-02-28), 10-K (filing date: 2018-02-27), 10-K (filing date: 2019-02-26).
1 USD $
2 Data adjusted for splits and stock dividends.
3 Close price on the filing date of International Business Machines Corp.’s Annual Report.
Comparison to Competitors
International Business Machines Corp., P/BV, long-term trends, comparison to competitors
| International Business Machines Corp. | Adobe Inc. | Alphabet Inc. | Facebook Inc. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | salesforce.com inc. | |
|---|---|---|---|---|---|---|---|---|
| Dec 31, 2005 | 3.80 | 12.48 | 10.69 | – | 4.73 | 17.90 | 6.31 | 10.50 |
| Dec 31, 2006 | 4.96 | 4.39 | 8.18 | – | 6.56 | 19.86 | 5.28 | 21.98 |
| Dec 31, 2007 | 5.56 | 4.24 | 7.32 | – | 4.74 | 33.73 | 5.96 | 17.53 |
| Dec 31, 2008 | 8.61 | 2.34 | 3.99 | – | 4.76 | 6.47 | 4.66 | 15.76 |
| Dec 31, 2009 | 7.26 | 3.68 | 4.71 | – | 3.50 | 5.36 | 4.29 | 5.65 |
| Dec 31, 2010 | 8.57 | 3.29 | 4.34 | – | 5.05 | 4.84 | 3.52 | 9.19 |
| Dec 31, 2011 | 11.39 | 2.66 | 3.18 | – | 5.46 | 4.07 | 4.12 | 12.71 |
| Dec 31, 2012 | 11.77 | 2.84 | 3.46 | 6.02 | 6.46 | 3.68 | 3.11 | 12.73 |
| Dec 31, 2013 | 8.37 | 4.49 | 4.57 | 10.31 | 5.28 | 3.36 | 3.13 | 11.74 |
| Dec 31, 2014 | 13.73 | 5.26 | 3.44 | 6.05 | 7.79 | 3.96 | 3.82 | 12.79 |
| Dec 31, 2015 | 8.92 | 6.35 | 3.91 | 7.02 | 10.00 | 4.66 | 3.66 | 10.57 |
| Dec 31, 2016 | 9.30 | 7.37 | 3.99 | 6.39 | 24.96 | 6.08 | 3.49 | 9.45 |
| Dec 31, 2017 | 8.20 | 11.50 | 4.93 | 7.54 | 26.72 | 7.69 | 3.90 | 7.78 |
| Dec 31, 2018 | 7.40 | 12.76 | 4.49 | 5.65 | 24.12 | 10.02 | 3.84 | 9.93 |
Based on: 10-K (filing date: 2006-02-28), 10-K (filing date: 2007-02-27), 10-K (filing date: 2008-02-26), 10-K (filing date: 2009-02-24), 10-K (filing date: 2010-02-23), 10-K (filing date: 2011-02-22), 10-K (filing date: 2012-02-28), 10-K (filing date: 2013-02-26), 10-K (filing date: 2014-02-25), 10-K (filing date: 2015-02-24), 10-K (filing date: 2016-02-23), 10-K (filing date: 2017-02-28), 10-K (filing date: 2018-02-27), 10-K (filing date: 2019-02-26).
Comparison to Software & Computer Services Sector
International Business Machines Corp., P/BV, long-term trends, comparison to Software & Computer Services sector
| International Business Machines Corp. | Software & Computer Services | |
|---|---|---|
| Dec 31, 2005 | 3.80 | 11.30 |
| Dec 31, 2006 | 4.96 | 11.09 |
| Dec 31, 2007 | 5.56 | 14.21 |
| Dec 31, 2008 | 8.61 | 5.54 |
| Dec 31, 2009 | 7.26 | 5.21 |
| Dec 31, 2010 | 8.57 | 4.96 |
| Dec 31, 2011 | 11.39 | 4.63 |
| Dec 31, 2012 | 11.77 | 4.38 |
| Dec 31, 2013 | 8.37 | 4.70 |
| Dec 31, 2014 | 13.73 | 4.55 |
| Dec 31, 2015 | 8.92 | 4.89 |
| Dec 31, 2016 | 9.30 | 5.26 |
| Dec 31, 2017 | 8.20 | 6.22 |
| Dec 31, 2018 | 7.40 | 6.24 |
Based on: 10-K (filing date: 2006-02-28), 10-K (filing date: 2007-02-27), 10-K (filing date: 2008-02-26), 10-K (filing date: 2009-02-24), 10-K (filing date: 2010-02-23), 10-K (filing date: 2011-02-22), 10-K (filing date: 2012-02-28), 10-K (filing date: 2013-02-26), 10-K (filing date: 2014-02-25), 10-K (filing date: 2015-02-24), 10-K (filing date: 2016-02-23), 10-K (filing date: 2017-02-28), 10-K (filing date: 2018-02-27), 10-K (filing date: 2019-02-26).
Comparison to Technology Industry
International Business Machines Corp., P/BV, long-term trends, comparison to Technology industry
| International Business Machines Corp. | Technology | |
|---|---|---|
| Dec 31, 2005 | 3.80 | 7.07 |
| Dec 31, 2006 | 4.96 | 7.12 |
| Dec 31, 2007 | 5.56 | 8.32 |
| Dec 31, 2008 | 8.61 | 3.85 |
| Dec 31, 2009 | 7.26 | 4.25 |
| Dec 31, 2010 | 8.57 | 4.04 |
| Dec 31, 2011 | 11.39 | 3.73 |
| Dec 31, 2012 | 11.77 | 3.69 |
| Dec 31, 2013 | 8.37 | 3.74 |
| Dec 31, 2014 | 13.73 | 4.22 |
| Dec 31, 2015 | 8.92 | 4.24 |
| Dec 31, 2016 | 9.30 | 4.46 |
| Dec 31, 2017 | 8.20 | 5.63 |
| Dec 31, 2018 | 7.40 | 6.47 |
Based on: 10-K (filing date: 2006-02-28), 10-K (filing date: 2007-02-27), 10-K (filing date: 2008-02-26), 10-K (filing date: 2009-02-24), 10-K (filing date: 2010-02-23), 10-K (filing date: 2011-02-22), 10-K (filing date: 2012-02-28), 10-K (filing date: 2013-02-26), 10-K (filing date: 2014-02-25), 10-K (filing date: 2015-02-24), 10-K (filing date: 2016-02-23), 10-K (filing date: 2017-02-28), 10-K (filing date: 2018-02-27), 10-K (filing date: 2019-02-26).