Price to Book Value (P/BV)
since 2005
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Johnson Controls International plc pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Calculation
Johnson Controls International plc, P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareholders’ equity attributable to Johnson Controls1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 14, 2023 | = | ÷ | = | ÷ | |||||||
| Nov 15, 2022 | = | ÷ | = | ÷ | |||||||
| Nov 15, 2021 | = | ÷ | = | ÷ | |||||||
| Nov 16, 2020 | = | ÷ | = | ÷ | |||||||
| Nov 21, 2019 | = | ÷ | = | ÷ | |||||||
| Nov 20, 2018 | = | ÷ | = | ÷ | |||||||
| Nov 21, 2017 | = | ÷ | = | ÷ | |||||||
| Nov 23, 2016 | = | ÷ | = | ÷ | |||||||
| Nov 18, 2015 | = | ÷ | = | ÷ | |||||||
| Nov 19, 2014 | = | ÷ | = | ÷ | |||||||
| Nov 21, 2013 | = | ÷ | = | ÷ | |||||||
| Nov 19, 2012 | = | ÷ | = | ÷ | |||||||
| Nov 22, 2011 | = | ÷ | = | ÷ | |||||||
| Nov 23, 2010 | = | ÷ | = | ÷ | |||||||
| Nov 25, 2009 | = | ÷ | = | ÷ | |||||||
| Nov 25, 2008 | = | ÷ | = | ÷ | |||||||
| Nov 29, 2007 | = | ÷ | = | ÷ | |||||||
| Dec 5, 2006 | = | ÷ | = | ÷ | |||||||
| Dec 9, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Johnson Controls International plc Annual Report.
- Share Price Trends
- The share price experienced considerable fluctuations between 2005 and 2023. Initially, it started at $9.46 in 2005 and rose sharply to a peak of $39.91 by the end of 2007. This was followed by a significant decline to $20.16 in 2008, coinciding with a broader economic downturn. From 2009 onwards, the share price generally trended upwards, reaching a high of $78.33 in 2021. However, after that peak, the price declined to $66.4 in 2022 and further to $54.1 by the end of 2023, indicating some recent volatility and correction.
- Book Value Per Share (BVPS) Trends
- BVPS showed a steady increase from $10.46 in 2005 to a peak of $25.75 in 2016. After 2016, BVPS remained relatively stable, fluctuating slightly between $22.09 and $25.62 until 2019. From 2020 onwards, BVPS slightly declined but maintained levels above $23, ending at $24.31 in 2023. The gradual increase and stabilization indicate consistent asset growth and retained earnings over the period, with limited erosion in recent years.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio exhibited notable volatility across the years. Starting below 1 at 0.9 in 2005 and 0.81 in 2006, it spiked dramatically to 2.66 in 2007 and maintained elevated levels around 2.5 to 2.8 in the early 2010s. A pronounced dip to 1.6 occurred in 2012, followed by a moderate recovery and fluctuations between 1.46 and 2.45 through 2019. Post-2019, the ratio increased markedly, reaching a high of 3.14 in 2021, which coincided with the peak share price. Subsequently, it decreased but remained relatively high at 2.23 by the end of 2023. These variations imply changes in market valuation relative to the company's net asset value, reflecting investor sentiment and market conditions over time.
- Overall Insights
- The data reflect periods of strong market optimism amid growing intrinsic value, particularly visible from 2005 to 2007 and from 2018 to 2021. However, the sharp downturn in 2008 and the recent corrections after 2021 highlight the sensitivity of market valuation to economic fluctuations and possibly company-specific developments. The relatively steady BVPS suggests solid underlying asset growth, while the higher P/BV ratios imply periods during which market prices significantly outpaced book value, indicating an expectation of future growth or profitability. Recent trends suggest a moderation in market enthusiasm and a possible revaluation of the company’s prospects.
Comparison to Competitors
Johnson Controls International plc, P/BV, long-term trends, comparison to competitors
| Johnson Controls International plc | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Dec 14, 2023 | ||||||||
| Nov 15, 2022 | ||||||||
| Nov 15, 2021 | ||||||||
| Nov 16, 2020 | ||||||||
| Nov 21, 2019 | ||||||||
| Nov 20, 2018 | ||||||||
| Nov 21, 2017 | ||||||||
| Nov 23, 2016 | ||||||||
| Nov 18, 2015 | ||||||||
| Nov 19, 2014 | ||||||||
| Nov 21, 2013 | ||||||||
| Nov 19, 2012 | ||||||||
| Nov 22, 2011 | ||||||||
| Nov 23, 2010 | ||||||||
| Nov 25, 2009 | ||||||||
| Nov 25, 2008 | ||||||||
| Nov 29, 2007 | ||||||||
| Dec 5, 2006 | ||||||||
| Dec 9, 2005 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Capital Goods)
Johnson Controls International plc, P/BV, long-term trends, comparison to sector (capital goods)
| Johnson Controls International plc | Capital Goods | |
|---|---|---|
| Dec 14, 2023 | ||
| Nov 15, 2022 | ||
| Nov 15, 2021 | ||
| Nov 16, 2020 | ||
| Nov 21, 2019 | ||
| Nov 20, 2018 | ||
| Nov 21, 2017 | ||
| Nov 23, 2016 | ||
| Nov 18, 2015 | ||
| Nov 19, 2014 | ||
| Nov 21, 2013 | ||
| Nov 19, 2012 | ||
| Nov 22, 2011 | ||
| Nov 23, 2010 | ||
| Nov 25, 2009 | ||
| Nov 25, 2008 | ||
| Nov 29, 2007 | ||
| Dec 5, 2006 | ||
| Dec 9, 2005 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Industrials)
Johnson Controls International plc, P/BV, long-term trends, comparison to industry (industrials)
| Johnson Controls International plc | Industrials | |
|---|---|---|
| Dec 14, 2023 | ||
| Nov 15, 2022 | ||
| Nov 15, 2021 | ||
| Nov 16, 2020 | ||
| Nov 21, 2019 | ||
| Nov 20, 2018 | ||
| Nov 21, 2017 | ||
| Nov 23, 2016 | ||
| Nov 18, 2015 | ||
| Nov 19, 2014 | ||
| Nov 21, 2013 | ||
| Nov 19, 2012 | ||
| Nov 22, 2011 | ||
| Nov 23, 2010 | ||
| Nov 25, 2009 | ||
| Nov 25, 2008 | ||
| Nov 29, 2007 | ||
| Dec 5, 2006 | ||
| Dec 9, 2005 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).