Price to Book Value (P/BV)
since 2005
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Time Warner Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Calculation
Time Warner Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Time Warner Inc. shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 22, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2006 | = | ÷ | = | ÷ |
Based on: 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: 2014-12-31), 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 Time Warner Inc. Annual Report.
- Share Price
- The share price experienced significant volatility during the period analyzed. It peaked at $64.50 in early 2007 before declining sharply to a low of $22.05 by early 2009, coinciding with the global financial crisis. Following this trough, the share price showed a sustained recovery, reaching a high of $97.06 in early 2017 before slightly decreasing to $94.37 in early 2018. Overall, the trend indicates strong recovery and growth after the 2008–2009 downturn.
- Book Value Per Share (BVPS)
- Book value per share showed a less volatile but downward trend during the initial part of the period, peaking at $49.10 in early 2008 and then decreasing significantly to $29.02 by early 2010. After this drop, book value per share stabilized, fluctuating moderately between approximately $29 and $33.5 until early 2017. By early 2018, there was an increase to $36.39, indicating some recovery in the company’s net asset value per share.
- Price to Book Value Ratio (P/BV)
- The price to book value ratio displayed an inverse relationship to book value per share trends, reflecting market sentiment and share price changes. Initially, the ratio hovered around 1.2 to 1.3 in 2006 and 2007 but fell steeply to 0.62 in early 2009, indicating the share price was significantly undervalued relative to the book value during the financial crisis. From 2010 onward, the P/B ratio showed a strong upward trend, peaking at 3.09 in early 2017, before slightly declining to 2.59 in early 2018. This suggests increasing market confidence and willingness to pay a premium over book value, reflecting positive growth prospects or improved market perception after the crisis period.
- Summary of Trends
- Overall, the data reveals a company that was severely impacted by the 2008 financial crisis, with both market price and book value per share declining sharply during that period. Subsequent years show a recovery in market share price that outpaced the modest recovery in book value per share, as evidenced by the increasing price to book value ratio. This divergence indicates increased market optimism relative to the underlying book value, possibly due to growth expectations or strategic developments enhancing future earnings potential.
Comparison to Competitors
Time Warner Inc., P/BV, long-term trends, comparison to competitors
| Time Warner Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Take-Two Interactive Software Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|---|
| Feb 22, 2018 | |||||||
| Feb 23, 2017 | |||||||
| Feb 25, 2016 | |||||||
| Feb 26, 2015 | |||||||
| Feb 26, 2014 | |||||||
| Feb 22, 2013 | |||||||
| Feb 24, 2012 | |||||||
| Feb 18, 2011 | |||||||
| Feb 19, 2010 | |||||||
| Feb 20, 2009 | |||||||
| Feb 22, 2008 | |||||||
| Feb 23, 2007 | |||||||
| Feb 27, 2006 |
Based on: 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: 2014-12-31), 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 Sector (Media & Entertainment)
Time Warner Inc., P/BV, long-term trends, comparison to sector (media & entertainment)
| Time Warner Inc. | Media & Entertainment | |
|---|---|---|
| Feb 22, 2018 | ||
| Feb 23, 2017 | ||
| Feb 25, 2016 | ||
| Feb 26, 2015 | ||
| Feb 26, 2014 | ||
| Feb 22, 2013 | ||
| Feb 24, 2012 | ||
| Feb 18, 2011 | ||
| Feb 19, 2010 | ||
| Feb 20, 2009 | ||
| Feb 22, 2008 | ||
| Feb 23, 2007 | ||
| Feb 27, 2006 |
Based on: 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: 2014-12-31), 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 (Communication Services)
Time Warner Inc., P/BV, long-term trends, comparison to industry (communication services)
| Time Warner Inc. | Communication Services | |
|---|---|---|
| Feb 22, 2018 | ||
| Feb 23, 2017 | ||
| Feb 25, 2016 | ||
| Feb 26, 2015 | ||
| Feb 26, 2014 | ||
| Feb 22, 2013 | ||
| Feb 24, 2012 | ||
| Feb 18, 2011 | ||
| Feb 19, 2010 | ||
| Feb 20, 2009 | ||
| Feb 22, 2008 | ||
| Feb 23, 2007 | ||
| Feb 27, 2006 |
Based on: 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: 2014-12-31), 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).