Stock Analysis on Net

LyondellBasell Industries N.V. (NYSE:LYB)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 2, 2019.

Price to Book Value (P/BV)
since 2011

Microsoft Excel

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Calculation

LyondellBasell Industries N.V., P/BV, long-term trends, calculation

Microsoft Excel

Based on: 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), 10-K (reporting date: 2011-12-31).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of LyondellBasell Industries N.V. Annual Report.


Share Price
The share price exhibited an overall upward trend from 43.18 US$ in February 2012 to a peak of 110.83 US$ in February 2018. However, there were fluctuations within this period; notably, after reaching 89.94 US$ in February 2015, the price decreased to 77.93 US$ in 2016 but generally recovered in subsequent years, ending at 88.5 US$ in February 2019. This indicates periods of market volatility and correction following strong growth phases.
Book Value Per Share (BVPS)
The book value per share showed some variability over the observed years. Starting at 18.46 US$ in 2012, it increased steadily to 22.83 US$ by 2014. A decline followed with a trough at 15.02 US$ in 2017, after which the BVPS rose significantly to 27.64 US$ in 2019. The initial growth may reflect accumulation of net assets or retained earnings, whereas the mid-cycle decline suggests possible write-downs or increased liabilities. The sharp increase towards the end indicates improved asset base or reduced liabilities.
Price-to-Book Value Ratio (P/BV)
The P/BV ratio rose consistently from 2.34 in 2012 to a peak of 6.18 in 2017, implying that the market price increasingly exceeded the book value of the company over this period. After 2017, the ratio decreased to 3.2 by 2019. This pattern indicates that investor sentiment and market valuation became increasingly optimistic up to 2017, potentially reflecting growth expectations or market speculation. The subsequent decline suggests a market reassessment or correction relative to the company’s net asset value.
Overall Insights
The share price and P/BV ratio trends suggest significant market enthusiasm leading up to 2017, with the company’s stock being valued at a premium relative to its book value. Despite the temporary decline in book value per share around 2015-2017, the market price continued to rise, indicating strong investor confidence possibly driven by expected future performance. However, the decline in both share price and P/BV ratio after 2017 may reflect changing market conditions, profit-taking, or adjustments based on the company’s fundamental value. The recovery of BVPS in later years suggests strengthening financial position, which may provide a foundation for future market valuation improvements.

Comparison to Competitors

LyondellBasell Industries N.V., P/BV, long-term trends, comparison to competitors

Microsoft Excel

Based on: 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), 10-K (reporting date: 2011-12-31).


Comparison to Sector (Chemicals)

LyondellBasell Industries N.V., P/BV, long-term trends, comparison to sector (chemicals)

Microsoft Excel

Based on: 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), 10-K (reporting date: 2011-12-31).


Comparison to Industry (Materials)

LyondellBasell Industries N.V., P/BV, long-term trends, comparison to industry (materials)

Microsoft Excel

Based on: 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), 10-K (reporting date: 2011-12-31).