Price to Book Value (P/BV)
since 2005
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National Oilwell Varco Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Net Profit Margin since 2005
- Total Asset Turnover since 2005
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Calculation
National Oilwell Varco Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Company stockholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 19, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Mar 2, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 6, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 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: 2008-12-31), 10-K (reporting date: 2007-12-31), 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 National Oilwell Varco Inc. Annual Report.
- Share Price Trend
- The share price exhibited considerable volatility over the observed period. It increased sharply from $29.92 in March 2006 to a peak of $86.23 in February 2012. Following this peak, the share price generally declined, falling to $29.30 by February 2016. This suggests a period of growth followed by a significant contraction in market value.
- Book Value Per Share (BVPS) Trend
- BVPS showed a consistent upward trend from $12.00 in March 2006, reaching a high of $51.88 in February 2014. After 2014, BVPS experienced a slight decline, ending at $43.59 in February 2016. The steady increase in BVPS over most of the period indicates an overall increase in the company's net asset value per share despite later decreases.
- Price to Book Value (P/BV) Ratio Analysis
- The P/BV ratio fluctuated significantly. Initially, it remained above 2.0 until 2008, indicating the market price was more than twice the book value. A sharp drop to 0.79 in 2009 marked a period when the share price fell below the book value, likely reflecting market pessimism or distress. Subsequently, the ratio rose to above 2.0 by 2011 but trended downward again from 2013, settling at 0.67 in 2016. This downward trend alongside a falling share price and relatively stable book value suggests decreasing market confidence or valuation concerns.
- Overall Interpretation
- The data reveal strong growth in the company's intrinsic book value over the period, contrasted with volatile market pricing as reflected in the share price and P/BV ratio. The decoupling of price from book value after 2012, with the share price declining faster than book value, may indicate external market factors, changing investor sentiment, or operational challenges affecting perceived value. The low P/BV ratio towards the end of the period points to a potential undervaluation or heightened risk perception in the market.
Comparison to Competitors
National Oilwell Varco Inc., P/BV, long-term trends, comparison to competitors
| National Oilwell Varco Inc. | Schlumberger Ltd. | |
|---|---|---|
| Feb 19, 2016 | ||
| Feb 17, 2015 | ||
| Feb 14, 2014 | ||
| Feb 22, 2013 | ||
| Feb 23, 2012 | ||
| Feb 23, 2011 | ||
| Feb 26, 2010 | ||
| Mar 2, 2009 | ||
| Feb 29, 2008 | ||
| Feb 27, 2007 | ||
| Mar 6, 2006 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 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: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
National Oilwell Varco Inc., P/BV, long-term trends, comparison to industry (energy)
| National Oilwell Varco Inc. | Energy | |
|---|---|---|
| Feb 19, 2016 | ||
| Feb 17, 2015 | ||
| Feb 14, 2014 | ||
| Feb 22, 2013 | ||
| Feb 23, 2012 | ||
| Feb 23, 2011 | ||
| Feb 26, 2010 | ||
| Mar 2, 2009 | ||
| Feb 29, 2008 | ||
| Feb 27, 2007 | ||
| Mar 6, 2006 |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 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: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).