Microsoft Excel LibreOffice Calc

International Business Machines Corp. (IBM)

Price to Book Value (P/BV)
since 2005

Low level of difficulty

Calculation

International Business Machines Corp., P/BV, long-term trends, calculation

Microsoft Excel LibreOffice Calc
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, 2018 7.40 = 139.72 ÷ 18.87 18.87 = 16,796 ÷ 889,866,256
Dec 31, 2017 8.20 = 156.55 ÷ 19.10 19.10 = 17,594 ÷ 921,167,894
Dec 31, 2016 9.30 = 179.82 ÷ 19.34 19.34 = 18,246 ÷ 943,212,551
Dec 31, 2015 8.92 = 132.40 ÷ 14.84 14.84 = 14,262 ÷ 960,880,915
Dec 31, 2014 13.73 = 164.83 ÷ 12.01 12.01 = 11,868 ÷ 988,424,172
Dec 31, 2013 8.37 = 183.23 ÷ 21.89 21.89 = 22,792 ÷ 1,041,340,758
Dec 31, 2012 11.77 = 199.14 ÷ 16.92 16.92 = 18,860 ÷ 1,114,509,771
Dec 31, 2011 11.39 = 197.98 ÷ 17.38 17.38 = 20,138 ÷ 1,158,661,712
Dec 31, 2010 8.57 = 161.95 ÷ 18.90 18.90 = 23,046 ÷ 1,219,536,250
Dec 31, 2009 7.26 = 126.46 ÷ 17.43 17.43 = 22,637 ÷ 1,299,003,390
Dec 31, 2008 8.61 = 86.40 ÷ 10.04 10.04 = 13,465 ÷ 1,341,677,786
Dec 31, 2007 5.56 = 114.38 ÷ 20.57 20.57 = 28,470 ÷ 1,384,330,881
Dec 31, 2006 4.96 = 93.96 ÷ 18.93 18.93 = 28,506 ÷ 1,505,528,922
Dec 31, 2005 3.80 = 80.24 ÷ 21.12 21.12 = 33,098 ÷ 1,567,313,082

Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23), 10-K (filing date: 2015-02-24), 10-K (filing date: 2014-02-25), 10-K (filing date: 2013-02-26), 10-K (filing date: 2012-02-28), 10-K (filing date: 2011-02-22), 10-K (filing date: 2010-02-23), 10-K (filing date: 2009-02-24), 10-K (filing date: 2008-02-26), 10-K (filing date: 2007-02-27), 10-K (filing date: 2006-02-28).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at 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

Microsoft Excel LibreOffice Calc
International Business Machines Corp. Adobe Inc. Alphabet Inc. Facebook Inc. Intuit Inc. Microsoft Corp. Oracle Corp. salesforce.com inc.
Dec 31, 2018 7.40 12.76 4.49 5.65 24.12 10.02 3.84 9.93
Dec 31, 2017 8.20 11.50 4.93 7.54 26.72 7.69 3.90 7.78
Dec 31, 2016 9.30 7.37 3.99 6.39 24.96 6.08 3.49 9.45
Dec 31, 2015 8.92 6.35 3.91 7.02 10.00 4.66 3.66 10.57
Dec 31, 2014 13.73 5.26 3.44 6.05 7.79 3.96 3.82 12.79
Dec 31, 2013 8.37 4.49 4.57 10.31 5.28 3.36 3.13 11.74
Dec 31, 2012 11.77 2.84 3.46 6.02 6.46 3.68 3.11 12.73
Dec 31, 2011 11.39 2.66 3.18 — 5.46 4.07 4.12 12.71
Dec 31, 2010 8.57 3.29 4.34 — 5.05 4.84 3.52 9.19
Dec 31, 2009 7.26 3.68 4.71 — 3.50 5.36 4.29 5.65
Dec 31, 2008 8.61 2.34 3.99 — 4.76 6.47 4.66 15.76
Dec 31, 2007 5.56 4.24 7.32 — 4.74 33.73 5.96 17.53
Dec 31, 2006 4.96 4.39 8.18 — 6.56 19.86 5.28 21.98
Dec 31, 2005 3.80 12.48 10.69 — 4.73 17.90 6.31 10.50

Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23), 10-K (filing date: 2015-02-24), 10-K (filing date: 2014-02-25), 10-K (filing date: 2013-02-26), 10-K (filing date: 2012-02-28), 10-K (filing date: 2011-02-22), 10-K (filing date: 2010-02-23), 10-K (filing date: 2009-02-24), 10-K (filing date: 2008-02-26), 10-K (filing date: 2007-02-27), 10-K (filing date: 2006-02-28).

Comparison to Sector (Software & Computer Services)

International Business Machines Corp., P/BV, long-term trends, comparison to sector (software & computer services)

Microsoft Excel LibreOffice Calc
International Business Machines Corp. Software & Computer Services
Dec 31, 2018 7.40 6.24
Dec 31, 2017 8.20 6.22
Dec 31, 2016 9.30 5.26
Dec 31, 2015 8.92 4.89
Dec 31, 2014 13.73 4.55
Dec 31, 2013 8.37 4.70
Dec 31, 2012 11.77 4.38
Dec 31, 2011 11.39 4.63
Dec 31, 2010 8.57 4.96
Dec 31, 2009 7.26 5.21
Dec 31, 2008 8.61 5.54
Dec 31, 2007 5.56 14.21
Dec 31, 2006 4.96 11.09
Dec 31, 2005 3.80 11.30

Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23), 10-K (filing date: 2015-02-24), 10-K (filing date: 2014-02-25), 10-K (filing date: 2013-02-26), 10-K (filing date: 2012-02-28), 10-K (filing date: 2011-02-22), 10-K (filing date: 2010-02-23), 10-K (filing date: 2009-02-24), 10-K (filing date: 2008-02-26), 10-K (filing date: 2007-02-27), 10-K (filing date: 2006-02-28).

Comparison to Industry (Technology)

International Business Machines Corp., P/BV, long-term trends, comparison to industry (technology)

Microsoft Excel LibreOffice Calc
International Business Machines Corp. Technology
Dec 31, 2018 7.40 6.42
Dec 31, 2017 8.20 5.55
Dec 31, 2016 9.30 4.39
Dec 31, 2015 8.92 4.39
Dec 31, 2014 13.73 4.29
Dec 31, 2013 8.37 3.83
Dec 31, 2012 11.77 3.80
Dec 31, 2011 11.39 3.95
Dec 31, 2010 8.57 4.25
Dec 31, 2009 7.26 4.43
Dec 31, 2008 8.61 4.12
Dec 31, 2007 5.56 9.14
Dec 31, 2006 4.96 7.88
Dec 31, 2005 3.80 7.96

Based on: 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23), 10-K (filing date: 2015-02-24), 10-K (filing date: 2014-02-25), 10-K (filing date: 2013-02-26), 10-K (filing date: 2012-02-28), 10-K (filing date: 2011-02-22), 10-K (filing date: 2010-02-23), 10-K (filing date: 2009-02-24), 10-K (filing date: 2008-02-26), 10-K (filing date: 2007-02-27), 10-K (filing date: 2006-02-28).