Price to Book Value (P/BV)
since 2005
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McKesson Corp. pages available for free this week:
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Calculation
McKesson Corp., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total McKesson Corporation stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| May 5, 2016 | = | ÷ | = | ÷ | |||||||
| May 12, 2015 | = | ÷ | = | ÷ | |||||||
| May 14, 2014 | = | ÷ | = | ÷ | |||||||
| May 7, 2013 | = | ÷ | = | ÷ | |||||||
| May 2, 2012 | = | ÷ | = | ÷ | |||||||
| May 5, 2011 | = | ÷ | = | ÷ | |||||||
| May 4, 2010 | = | ÷ | = | ÷ | |||||||
| May 5, 2009 | = | ÷ | = | ÷ | |||||||
| May 7, 2008 | = | ÷ | = | ÷ | |||||||
| May 9, 2007 | = | ÷ | = | ÷ | |||||||
| May 16, 2006 | = | ÷ | = | ÷ | |||||||
| May 13, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of McKesson Corp. Annual Report.
- Share price trend
- The share price exhibited notable fluctuations over the analyzed period. From May 2005 to May 2007, there was a consistent upward trajectory, increasing from $37.68 to $59.78. This was followed by a modest decline in May 2008 to $57.36, and a sharper drop in May 2009 to $38.18, indicating a period of market or company-specific challenges. After that, the share price recovered significantly, reaching a peak of $229.55 in May 2015 before decreasing to $172.70 by May 2016.
- Book value per share (BVPS) trend
- Book value per share showed a steady increase throughout the period. Beginning at $17.58 in May 2005, BVPS rose gradually each year, reaching $39.66 by May 2016. This reflects consistent growth in the company's net asset value on a per-share basis, indicating strengthening of the underlying equity base over time.
- Price-to-Book Value Ratio (P/BV) trend
- The P/BV ratio displayed variability aligned with changes in share price relative to book value. Starting at 2.14 in May 2005, the ratio peaked at 2.83 in May 2007 before dipping considerably to 1.67 in May 2009, coinciding with the low share price in that year. Subsequently, the ratio increased sharply, reaching a high of 6.64 in May 2015, then declined to 4.35 by May 2016. These movements suggest changing market perceptions of the company’s growth prospects and risk profile over time.
- Overall observations
- The overall data suggest a company experiencing growth in intrinsic value as evidenced by the rising book value per share, despite periods of market volatility reflected in the share price and P/BV ratio fluctuations. The substantial increase in share price and P/BV ratio post-2009 implies heightened investor confidence and potentially improved performance or market conditions. However, the drop in these metrics in the final year indicates some market correction or reassessment of company valuation.
Comparison to Competitors
McKesson Corp., P/BV, long-term trends, comparison to competitors
| McKesson Corp. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| May 5, 2016 | ||||||
| May 12, 2015 | ||||||
| May 14, 2014 | ||||||
| May 7, 2013 | ||||||
| May 2, 2012 | ||||||
| May 5, 2011 | ||||||
| May 4, 2010 | ||||||
| May 5, 2009 | ||||||
| May 7, 2008 | ||||||
| May 9, 2007 | ||||||
| May 16, 2006 | ||||||
| May 13, 2005 |
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).
Comparison to Sector (Health Care Equipment & Services)
McKesson Corp., P/BV, long-term trends, comparison to sector (health care equipment & services)
| McKesson Corp. | Health Care Equipment & Services | |
|---|---|---|
| May 5, 2016 | ||
| May 12, 2015 | ||
| May 14, 2014 | ||
| May 7, 2013 | ||
| May 2, 2012 | ||
| May 5, 2011 | ||
| May 4, 2010 | ||
| May 5, 2009 | ||
| May 7, 2008 | ||
| May 9, 2007 | ||
| May 16, 2006 | ||
| May 13, 2005 |
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).
Comparison to Industry (Health Care)
McKesson Corp., P/BV, long-term trends, comparison to industry (health care)
| McKesson Corp. | Health Care | |
|---|---|---|
| May 5, 2016 | ||
| May 12, 2015 | ||
| May 14, 2014 | ||
| May 7, 2013 | ||
| May 2, 2012 | ||
| May 5, 2011 | ||
| May 4, 2010 | ||
| May 5, 2009 | ||
| May 7, 2008 | ||
| May 9, 2007 | ||
| May 16, 2006 | ||
| May 13, 2005 |
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).