Price to Book Value (P/BV)
since 2012
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Zoetis Inc. pages available for free this week:
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2012
- Return on Equity (ROE) since 2012
- Return on Assets (ROA) since 2012
- Current Ratio since 2012
- Analysis of Debt
- Aggregate Accruals
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Calculation
Zoetis Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Zoetis Inc. equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 13, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2015 | = | ÷ | = | ÷ | |||||||
| Mar 26, 2014 | = | ÷ | = | ÷ | |||||||
| Mar 28, 2013 | = | ÷ | = | ÷ |
Based on: 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: 2019-12-31), 10-K (reporting date: 2018-12-31), 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).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Zoetis Inc. Annual Report.
- Share Price Trends
- The share price exhibited fluctuations early in the period, decreasing from $33.40 in 2013 to $29.21 in 2014, followed by a significant upward movement reaching $46.09 in 2015. There was a minor decline in 2016 to $42.37, but subsequent years saw a steady and substantial increase in share price, peaking at $197.76 in 2022. A slight correction occurred in 2023 with a decline to $171.90, after which the price rebounded to $183.49 in 2024. Overall, the long-term trend reflected strong growth, particularly from 2018 onwards.
- Book Value Per Share (BVPS) Patterns
- Book value per share demonstrated variability with an initial sharp decline from $8.05 in 2013 to $1.88 in 2014. This was followed by fluctuating but generally increasing values over the subsequent years. From 2014 to 2024, BVPS showed a consistent upward trajectory, growing from $1.88 to $10.91. This indicates a substantial improvement in net asset value attributable to shareholders over the period.
- Price-to-Book Value Ratio (P/BV) Analysis
- The P/BV ratio started at 4.15 in 2013, then sharply increased to a peak above 20 intermittently between 2014 and 2020. Notably, the ratio peaked at 25.42 in 2020, reflecting market price premium relative to the book value. After 2020, the ratio gradually declined, settling around 16.81 by 2024. The elevated levels throughout most of the period suggest that the market consistently valued the company at a significant premium to its book value, although valuation multiples showed some moderation in recent years.
- Summary of Financial Metrics
- Overall, the data reveals a company experiencing strong market performance as evidenced by increasing share prices supported by improving book value per share. Although valuation multiples reached high levels indicating potentially stretched market optimism, there has been a recent trend toward normalization of the price-to-book ratio. The growth in book value per share over the analyzed timeframe underscores an enhancement in underlying company fundamentals, potentially justifying the higher share prices despite periodic volatility.
Comparison to Competitors
Zoetis Inc., P/BV, long-term trends, comparison to competitors
| Zoetis Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 13, 2024 | |||||||||||||
| Feb 14, 2023 | |||||||||||||
| Feb 15, 2022 | |||||||||||||
| Feb 16, 2021 | |||||||||||||
| Feb 13, 2020 | |||||||||||||
| Feb 14, 2019 | |||||||||||||
| Feb 15, 2018 | |||||||||||||
| Feb 16, 2017 | |||||||||||||
| Feb 24, 2016 | |||||||||||||
| Feb 27, 2015 | |||||||||||||
| Mar 26, 2014 | |||||||||||||
| Mar 28, 2013 |
Based on: 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: 2019-12-31), 10-K (reporting date: 2018-12-31), 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).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Zoetis Inc., P/BV, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Zoetis Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 13, 2024 | ||
| Feb 14, 2023 | ||
| Feb 15, 2022 | ||
| Feb 16, 2021 | ||
| Feb 13, 2020 | ||
| Feb 14, 2019 | ||
| Feb 15, 2018 | ||
| Feb 16, 2017 | ||
| Feb 24, 2016 | ||
| Feb 27, 2015 | ||
| Mar 26, 2014 | ||
| Mar 28, 2013 |
Based on: 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: 2019-12-31), 10-K (reporting date: 2018-12-31), 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).
Comparison to Industry (Health Care)
Zoetis Inc., P/BV, long-term trends, comparison to industry (health care)
| Zoetis Inc. | Health Care | |
|---|---|---|
| Feb 13, 2024 | ||
| Feb 14, 2023 | ||
| Feb 15, 2022 | ||
| Feb 16, 2021 | ||
| Feb 13, 2020 | ||
| Feb 14, 2019 | ||
| Feb 15, 2018 | ||
| Feb 16, 2017 | ||
| Feb 24, 2016 | ||
| Feb 27, 2015 | ||
| Mar 26, 2014 | ||
| Mar 28, 2013 |
Based on: 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: 2019-12-31), 10-K (reporting date: 2018-12-31), 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).