Price to Book Value (P/BV)
since 2005
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Johnson & Johnson pages available for free this week:
- Statement of Comprehensive Income
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
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Calculation
Johnson & Johnson, P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 13, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 14, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2024-12-29), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Johnson & Johnson Annual Report.
- Share price trend
- The share price exhibited overall growth from 59.29 US$ in early 2006 to a peak near 166.19 US$ in early 2022, demonstrating a general upward trajectory over the analyzed period. Notable fluctuations include a decline from 65 in 2007 to 54.65 in 2009, likely reflecting broader market conditions. Following 2009, there was a consistent rise until early 2022, with a mild decrease observed in the years 2023 and 2024, settling around 156-158 US$.
- Book value per share (BVPS) trend
- Book value per share increased steadily from 12.73 US$ in 2006 to approximately 29.69 US$ in early 2025. There were minor fluctuations, such as a slight dip from 26.18 US$ in 2014 to 25.09 US$ in 2015, but overall the trend showed consistent growth in shareholder equity value, reflecting the company’s strengthening balance sheet over time.
- Price-to-Book Value (P/BV) ratio analysis
- The P/BV ratio started relatively high at around 4.66 in 2006, dropped to a low of 2.88 in 2011, signaling a period when the stock price was closer to book value and potentially undervalued. Subsequently, it increased significantly, reaching a peak above 6.7 in 2021, suggesting that the market valued the company’s shares at a premium compared to book value. After 2021, the ratio declined moderately to around 5.3 by early 2025, indicating a slight moderation in valuation multiples but remaining at elevated levels.
- Summary of insights
- The data reveals a robust expansion in both share price and book value per share, highlighting sustained growth and improved financial strength over the years. The movement of the P/BV ratio indicates changing investor sentiment and valuation dynamics, with periods of both conservative and optimistic market views. The recent moderation in the price multiple ratio could indicate a more cautious market outlook or normalization following a period of high valuations.
Comparison to Competitors
Johnson & Johnson, P/BV, long-term trends, comparison to competitors
| Johnson & Johnson | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 13, 2025 | ||||||||||||
| Feb 16, 2024 | ||||||||||||
| Feb 16, 2023 | ||||||||||||
| Feb 17, 2022 | ||||||||||||
| Feb 22, 2021 | ||||||||||||
| Feb 18, 2020 | ||||||||||||
| Feb 20, 2019 | ||||||||||||
| Feb 21, 2018 | ||||||||||||
| Feb 27, 2017 | ||||||||||||
| Feb 24, 2016 | ||||||||||||
| Feb 24, 2015 | ||||||||||||
| Feb 21, 2014 | ||||||||||||
| Feb 22, 2013 | ||||||||||||
| Feb 23, 2012 | ||||||||||||
| Feb 25, 2011 | ||||||||||||
| Mar 1, 2010 | ||||||||||||
| Feb 20, 2009 | ||||||||||||
| Feb 26, 2008 | ||||||||||||
| Feb 21, 2007 | ||||||||||||
| Mar 14, 2006 |
Based on: 10-K (reporting date: 2024-12-29), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Johnson & Johnson, P/BV, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Johnson & Johnson | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 13, 2025 | ||
| Feb 16, 2024 | ||
| Feb 16, 2023 | ||
| Feb 17, 2022 | ||
| Feb 22, 2021 | ||
| Feb 18, 2020 | ||
| Feb 20, 2019 | ||
| Feb 21, 2018 | ||
| Feb 27, 2017 | ||
| Feb 24, 2016 | ||
| Feb 24, 2015 | ||
| Feb 21, 2014 | ||
| Feb 22, 2013 | ||
| Feb 23, 2012 | ||
| Feb 25, 2011 | ||
| Mar 1, 2010 | ||
| Feb 20, 2009 | ||
| Feb 26, 2008 | ||
| Feb 21, 2007 | ||
| Mar 14, 2006 |
Based on: 10-K (reporting date: 2024-12-29), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Johnson & Johnson, P/BV, long-term trends, comparison to industry (health care)
| Johnson & Johnson | Health Care | |
|---|---|---|
| Feb 13, 2025 | ||
| Feb 16, 2024 | ||
| Feb 16, 2023 | ||
| Feb 17, 2022 | ||
| Feb 22, 2021 | ||
| Feb 18, 2020 | ||
| Feb 20, 2019 | ||
| Feb 21, 2018 | ||
| Feb 27, 2017 | ||
| Feb 24, 2016 | ||
| Feb 24, 2015 | ||
| Feb 21, 2014 | ||
| Feb 22, 2013 | ||
| Feb 23, 2012 | ||
| Feb 25, 2011 | ||
| Mar 1, 2010 | ||
| Feb 20, 2009 | ||
| Feb 26, 2008 | ||
| Feb 21, 2007 | ||
| Mar 14, 2006 |
Based on: 10-K (reporting date: 2024-12-29), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-28), 10-K (reporting date: 2013-12-29), 10-K (reporting date: 2012-12-30), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-28), 10-K (reporting date: 2007-12-30), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).