Price to Book Value (P/BV)
since 2005
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TJX Cos. Inc. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Return on Assets (ROA) since 2005
- Analysis of Revenues
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Calculation
TJX Cos. Inc., 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 31, 2026 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2025 | = | ÷ | = | ÷ | |||||||
| Apr 3, 2024 | = | ÷ | = | ÷ | |||||||
| Mar 29, 2023 | = | ÷ | = | ÷ | |||||||
| Mar 30, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2021 | = | ÷ | = | ÷ | |||||||
| Mar 27, 2020 | = | ÷ | = | ÷ | |||||||
| Apr 3, 2019 | = | ÷ | = | ÷ | |||||||
| Apr 4, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2017 | = | ÷ | = | ÷ | |||||||
| Mar 29, 2016 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2015 | = | ÷ | = | ÷ | |||||||
| Apr 1, 2014 | = | ÷ | = | ÷ | |||||||
| Apr 2, 2013 | = | ÷ | = | ÷ | |||||||
| Mar 27, 2012 | = | ÷ | = | ÷ | |||||||
| Mar 30, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 30, 2010 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2009 | = | ÷ | = | ÷ | |||||||
| Mar 26, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 29, 2006 | = | ÷ | = | ÷ | |||||||
| Mar 30, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of TJX Cos. Inc. Annual Report.
The price-to-book (P/BV) ratio, calculated from the provided share price and book value per share information, exhibits a generally increasing trend over the observed period from 2005 to 2025, though with notable fluctuations. Initial values indicate a relatively high P/BV ratio, followed by a period of decline and subsequent growth.
- Initial Period (2005-2007)
- The P/BV ratio began at 7.15 in 2005, decreased to 6.17 in 2006, and then declined further to 5.25 by 2007. This represents a downward trend in the market’s valuation of the company relative to its book value during these years.
- Volatility and Recovery (2008-2011)
- The ratio increased to 6.74 in 2008, then decreased to 4.96 in 2009, potentially reflecting market conditions during the financial crisis. A recovery began in 2010, with the P/BV ratio rising to 6.12, and continued through 2011, reaching 6.30. This suggests a renewed investor confidence and increasing valuation.
- Significant Growth (2012-2015)
- A period of substantial growth in the P/BV ratio is observed from 2012 to 2015. The ratio nearly doubled from 9.20 in 2012 to 11.23 in 2014, and further increased to 12.09 in 2015. This indicates a strong positive market sentiment and a higher valuation relative to book value.
- Stabilization and Further Increase (2016-2025)
- From 2016 to 2018, the P/BV ratio experienced a period of relative stabilization, fluctuating between 11.27 and 12.79. A subsequent dip to 9.42 occurred in 2020, potentially linked to economic uncertainties. However, the ratio resumed its upward trajectory, reaching 13.68 in 2021, 15.09 in 2023, and culminating in 17.35 in 2025. This final increase suggests continued positive market perception and a growing premium placed on the company’s net asset value.
Overall, the P/BV ratio demonstrates a long-term increasing trend, punctuated by periods of volatility. The ratio more than doubled from its initial value in 2005 to its final value in 2025, indicating a significant shift in market valuation relative to the company’s book value over the two-decade period.
Comparison to Competitors
TJX Cos. Inc., P/BV, long-term trends, comparison to competitors
| TJX Cos. Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | |
|---|---|---|---|---|
| Mar 31, 2026 | ||||
| Apr 2, 2025 | ||||
| Apr 3, 2024 | ||||
| Mar 29, 2023 | ||||
| Mar 30, 2022 | ||||
| Mar 31, 2021 | ||||
| Mar 27, 2020 | ||||
| Apr 3, 2019 | ||||
| Apr 4, 2018 | ||||
| Mar 28, 2017 | ||||
| Mar 29, 2016 | ||||
| Mar 31, 2015 | ||||
| Apr 1, 2014 | ||||
| Apr 2, 2013 | ||||
| Mar 27, 2012 | ||||
| Mar 30, 2011 | ||||
| Mar 30, 2010 | ||||
| Mar 31, 2009 | ||||
| Mar 26, 2008 | ||||
| Mar 28, 2007 | ||||
| Mar 29, 2006 | ||||
| Mar 30, 2005 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
TJX Cos. Inc., P/BV, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| TJX Cos. Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Mar 31, 2026 | ||
| Apr 2, 2025 | ||
| Apr 3, 2024 | ||
| Mar 29, 2023 | ||
| Mar 30, 2022 | ||
| Mar 31, 2021 | ||
| Mar 27, 2020 | ||
| Apr 3, 2019 | ||
| Apr 4, 2018 | ||
| Mar 28, 2017 | ||
| Mar 29, 2016 | ||
| Mar 31, 2015 | ||
| Apr 1, 2014 | ||
| Apr 2, 2013 | ||
| Mar 27, 2012 | ||
| Mar 30, 2011 | ||
| Mar 30, 2010 | ||
| Mar 31, 2009 | ||
| Mar 26, 2008 | ||
| Mar 28, 2007 | ||
| Mar 29, 2006 | ||
| Mar 30, 2005 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).
Comparison to Industry (Consumer Discretionary)
TJX Cos. Inc., P/BV, long-term trends, comparison to industry (consumer discretionary)
| TJX Cos. Inc. | Consumer Discretionary | |
|---|---|---|
| Mar 31, 2026 | ||
| Apr 2, 2025 | ||
| Apr 3, 2024 | ||
| Mar 29, 2023 | ||
| Mar 30, 2022 | ||
| Mar 31, 2021 | ||
| Mar 27, 2020 | ||
| Apr 3, 2019 | ||
| Apr 4, 2018 | ||
| Mar 28, 2017 | ||
| Mar 29, 2016 | ||
| Mar 31, 2015 | ||
| Apr 1, 2014 | ||
| Apr 2, 2013 | ||
| Mar 27, 2012 | ||
| Mar 30, 2011 | ||
| Mar 30, 2010 | ||
| Mar 31, 2009 | ||
| Mar 26, 2008 | ||
| Mar 28, 2007 | ||
| Mar 29, 2006 | ||
| Mar 30, 2005 |
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-02-01), 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02), 10-K (reporting date: 2012-01-28), 10-K (reporting date: 2011-01-29), 10-K (reporting date: 2010-01-30), 10-K (reporting date: 2009-01-31), 10-K (reporting date: 2008-01-26), 10-K (reporting date: 2007-01-27), 10-K (reporting date: 2006-01-28), 10-K (reporting date: 2005-01-29).