Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
National Oilwell Varco Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
The analyzed financial ratios for the specified periods exhibit several noteworthy trends and fluctuations.
- Price to Earnings (P/E) Ratio
-
The P/E ratio begins appearing from March 31, 2011, at 18.35 and demonstrates a general declining trend until it reaches a low of 8.19 by September 30, 2015. There are minor fluctuations along the way, such as a slight increase to 14.82 during December 31, 2013, and a rebound to 10.48 in December 31, 2015. The overall decline suggests a decreasing market valuation of earnings over the period, possibly reflecting changes in earnings performance or market sentiment.
- Price to Operating Profit (P/OP) Ratio
-
The P/OP ratio follows a similar downward trend starting at 12.46 on March 31, 2011, reaching a trough at 5.33 on September 30, 2015. The ratio shows moderate volatility, with transient increases, such as moving from 8.17 in March 31, 2013, up to 10.28 by December 31, 2012, and a slight recovery to 6.56 in December 31, 2015. The falling P/OP ratio over these years signals a reduced valuation relative to operating profit, possibly due to margin pressures or changes in profitability.
- Price to Sales (P/S) Ratio
-
The P/S ratio starts at 2.5 on March 31, 2011 and generally declines through to 0.75 by March 31, 2016, indicating a substantial decrease in market price relative to sales. There are minor upward movements in early periods like an increase to 1.61 on September 30, 2014, but the overall pattern is a drop. Interestingly, the ratio climbs again to 1.24 by June 30, 2016, suggesting a possible improvement in market valuation or sales expectations near the end of the period.
- Price to Book Value (P/BV) Ratio
-
The P/BV ratio shows some initial volatility, increasing from 1.78 on March 31, 2011 to a peak of 2.08 on December 31, 2011. Subsequently, the ratio declines steadily to reach its lowest point of 0.67 by December 31, 2015, before slightly increasing to 0.77 by June 30, 2016. The downward trend highlights a decreasing market valuation relative to book value, which may reflect diminishing investor confidence in the firm's net asset value or accumulated losses during the covered timeframe.
Overall, the analyzed ratios indicate a broadly decreasing market valuation relative to key financial metrics such as earnings, operating profits, sales, and book value over the period from 2011 to mid-2016. The declines are most pronounced between 2013 and 2015, with slight recoveries noted towards the end of the time horizon, indicating potential stabilization or improving outlooks by mid-2016.
Price to Earnings (P/E)
National Oilwell Varco Inc., historical P/E calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 377,631,319 | 377,060,946 | 375,800,956 | 375,747,606 | 383,808,711 | 387,867,938 | 409,935,076 | 430,573,759 | 430,238,649 | 429,047,822 | 428,526,178 | 428,100,188 | 427,518,321 | 427,281,236 | 426,639,780 | 426,905,434 | 426,422,229 | 426,213,862 | 424,224,491 | 423,842,605 | 423,677,637 | 423,077,225 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Company (in millions) | (217) | (119) | (1,523) | 155) | 289) | 310) | 595) | 699) | 619) | 589) | 658) | 636) | 531) | 502) | 668) | 612) | 605) | 606) | 574) | 532) | 481) | 407) | |||||||
| Earnings per share (EPS)2 | -4.51 | -3.18 | -2.05 | 3.59 | 4.93 | 5.73 | 6.10 | 5.96 | 5.82 | 5.63 | 5.43 | 5.46 | 5.41 | 5.59 | 5.84 | 5.61 | 5.43 | 5.15 | 4.70 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 32.66 | 33.29 | 29.30 | 37.64 | 40.38 | 55.40 | 55.13 | 70.72 | 82.87 | 79.88 | 76.42 | 80.91 | 71.92 | 68.55 | 68.10 | 71.65 | 75.54 | 69.24 | 86.23 | 71.08 | 67.48 | 68.60 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/E ratio4 | — | — | — | 10.48 | 8.19 | 9.67 | 9.03 | 11.87 | 14.25 | 14.20 | 14.07 | 14.82 | 13.29 | 12.27 | 11.66 | 12.76 | 13.90 | 13.46 | 18.35 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Schlumberger Ltd. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2016 Calculation
EPS
= (Net income (loss) attributable to CompanyQ2 2016
+ Net income (loss) attributable to CompanyQ1 2016
+ Net income (loss) attributable to CompanyQ4 2015
+ Net income (loss) attributable to CompanyQ3 2015)
÷ No. shares of common stock outstanding
= (-217,000,000 + -119,000,000 + -1,523,000,000 + 155,000,000)
÷ 377,631,319 = -4.51
3 Closing price as at the filing date of National Oilwell Varco Inc. Quarterly or Annual Report.
4 Q2 2016 Calculation
P/E ratio = Share price ÷ EPS
= 32.66 ÷ -4.51 = —
5 Click competitor name to see calculations.
The analyzed financial data reveals several noteworthy trends in the company’s market valuation and earnings performance over the observed period.
- Share Price Trends
- The share price exhibited volatility throughout the period from March 2011 to June 2016. Initially, it fluctuated around the high 60s to mid-80s US dollars, reaching a peak near 86.23 US$ by December 2011. Following this, the price generally hovered between approximately 55 US$ and 82 US$ through to the end of 2014, with occasional increases and declines. However, beginning in early 2015, a clear downward trend became evident, with the price declining sharply from around 55.13 US$ to a low near 29.3 US$ by the end of 2015. The share price appears to stabilize slightly between around 32.66 US$ and 33.29 US$ in the first half of 2016, suggesting a period of market adjustment after significant losses.
- Earnings per Share (EPS) Trends
- Earnings per share data is available from March 2012 onward. EPS showed a generally positive and upward trend during the initial years, starting at 4.7 US$ in March 2012 and gradually increasing to a peak of 6.1 US$ by December 2014. This upward movement indicates an improving profitability profile over this duration. However, from March 2015 there is a pronounced reversal, with EPS decreasing significantly into negative territory, reaching -4.51 US$ in June 2016. This shift reflects substantial challenges affecting the company’s earnings capacity during the latter period.
- Price-to-Earnings (P/E) Ratio Analysis
- The P/E ratio generally declined from 18.35 in March 2012 to lower single digits by early 2016. Initially, P/E decreased steadily from the mid-teens to around 11-14 through 2012 to 2014, indicating a relative valuation contraction despite increasing earnings. This contraction could reflect investor caution or changing growth expectations. The P/E ratio fell further to below 10 in early 2015, coincident with the onset of sharply declining EPS values. Notably, the P/E ratio data is missing after the first quarter of 2016, which may be due to negative earnings causing issues in its calculation or reporting.
In summary, the company's financial indicators depict a phase of growth and positive investor sentiment up to late 2014, followed by a significant performance downturn starting in early 2015. Share price and EPS both experience marked declines, while the P/E ratio mirrors these changes, pointing to deteriorating profitability and associated market valuation challenges during the most recent periods examined.
Price to Operating Profit (P/OP)
National Oilwell Varco Inc., historical P/OP calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 377,631,319 | 377,060,946 | 375,800,956 | 375,747,606 | 383,808,711 | 387,867,938 | 409,935,076 | 430,573,759 | 430,238,649 | 429,047,822 | 428,526,178 | 428,100,188 | 427,518,321 | 427,281,236 | 426,639,780 | 426,905,434 | 426,422,229 | 426,213,862 | 424,224,491 | 423,842,605 | 423,677,637 | 423,077,225 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Operating profit (loss) (in millions) | (270) | (189) | (1,632) | 234) | 438) | 570) | 913) | 988) | 913) | 799) | 957) | 946) | 769) | 751) | 903) | 898) | 879) | 877) | 848) | 772) | 708) | 609) | |||||||
| Operating profit per share2 | -4.92 | -3.05 | -1.04 | 5.74 | 7.58 | 8.72 | 8.81 | 8.49 | 8.40 | 8.09 | 7.99 | 7.87 | 7.77 | 8.03 | 8.34 | 8.20 | 7.92 | 7.52 | 6.92 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 32.66 | 33.29 | 29.30 | 37.64 | 40.38 | 55.40 | 55.13 | 70.72 | 82.87 | 79.88 | 76.42 | 80.91 | 71.92 | 68.55 | 68.10 | 71.65 | 75.54 | 69.24 | 86.23 | 71.08 | 67.48 | 68.60 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/OP ratio4 | — | — | — | 6.56 | 5.33 | 6.35 | 6.26 | 8.33 | 9.86 | 9.87 | 9.57 | 10.28 | 9.26 | 8.54 | 8.17 | 8.73 | 9.54 | 9.21 | 12.46 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Schlumberger Ltd. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2016 Calculation
Operating profit per share
= (Operating profit (loss)Q2 2016
+ Operating profit (loss)Q1 2016
+ Operating profit (loss)Q4 2015
+ Operating profit (loss)Q3 2015)
÷ No. shares of common stock outstanding
= (-270,000,000 + -189,000,000 + -1,632,000,000 + 234,000,000)
÷ 377,631,319 = -4.92
3 Closing price as at the filing date of National Oilwell Varco Inc. Quarterly or Annual Report.
4 Q2 2016 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 32.66 ÷ -4.92 = —
5 Click competitor name to see calculations.
The analysis of the quarterly financial data indicates several noteworthy trends across the key financial indicators.
- Share Price
- The share price exhibited variability over the period from March 31, 2011, to June 30, 2016. Initially, the price ranged between approximately $67 and $86 per share through 2011 to early 2014, showing a relatively stable or modestly increasing trend. Thereafter, a general downward trajectory is evident, with the share price declining significantly from around $80 in early 2014 to below $35 by mid-2016. This indicates a substantial decrease in market valuation during this latter period, possibly reflecting market concerns or operational challenges.
- Operating Profit Per Share (OP)
- Operating profit per share data, available from March 31, 2012, onwards, shows an increasing trend initially. Starting near $6.92 in early 2012, it gradually increased to a peak around $8.81 by early 2015. However, post this peak, a sharp decline is observed, with the operating profit per share turning negative from March 2016 onwards, reaching approximately -$4.92 by June 2016. This represents a significant deterioration in profitability, suggesting operational difficulties or extraordinary expenses impacting earnings.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio started around 12.46 in early 2012, declined steadily reaching a low around 5.33 in September 2015, indicating the share price became more attractive relative to operating profits during this period. However, data becomes sparse after this date. The falling ratio before the absence of data suggests that either share price was decreasing less rapidly compared to operating profit or that operating profit was holding steady or improving relative to price initially. The missing ratio data post-2015 likely correlates with the negative operating profits, which would render the ratio undefined or unreliable.
Overall, the financial data reveals a period of improving profitability and relative valuation until early 2015, followed by a sharp decline in operating performance and share price. The negative operating profits and reduced share price in 2016 imply significant challenges that could be of concern for stakeholders.
Price to Sales (P/S)
National Oilwell Varco Inc., historical P/S calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 377,631,319 | 377,060,946 | 375,800,956 | 375,747,606 | 383,808,711 | 387,867,938 | 409,935,076 | 430,573,759 | 430,238,649 | 429,047,822 | 428,526,178 | 428,100,188 | 427,518,321 | 427,281,236 | 426,639,780 | 426,905,434 | 426,422,229 | 426,213,862 | 424,224,491 | 423,842,605 | 423,677,637 | 423,077,225 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Revenue (in millions) | 1,724) | 2,189) | 2,722) | 3,306) | 3,909) | 4,820) | 5,709) | 5,587) | 5,255) | 4,889) | 6,172) | 5,789) | 5,601) | 5,307) | 5,685) | 5,319) | 4,734) | 4,303) | 4,259) | 3,740) | 3,513) | 3,146) | |||||||
| Sales per share2 | 26.32 | 32.16 | 39.27 | 47.22 | 52.17 | 55.10 | 52.30 | 50.87 | 51.38 | 52.33 | 53.37 | 52.28 | 51.25 | 49.25 | 46.97 | 43.60 | 39.95 | 37.11 | 34.55 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 32.66 | 33.29 | 29.30 | 37.64 | 40.38 | 55.40 | 55.13 | 70.72 | 82.87 | 79.88 | 76.42 | 80.91 | 71.92 | 68.55 | 68.10 | 71.65 | 75.54 | 69.24 | 86.23 | 71.08 | 67.48 | 68.60 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/S ratio4 | 1.24 | 1.04 | 0.75 | 0.80 | 0.77 | 1.01 | 1.05 | 1.39 | 1.61 | 1.53 | 1.43 | 1.55 | 1.40 | 1.39 | 1.45 | 1.64 | 1.89 | 1.87 | 2.50 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Schlumberger Ltd. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2016 Calculation
Sales per share
= (RevenueQ2 2016
+ RevenueQ1 2016
+ RevenueQ4 2015
+ RevenueQ3 2015)
÷ No. shares of common stock outstanding
= (1,724,000,000 + 2,189,000,000 + 2,722,000,000 + 3,306,000,000)
÷ 377,631,319 = 26.32
3 Closing price as at the filing date of National Oilwell Varco Inc. Quarterly or Annual Report.
4 Q2 2016 Calculation
P/S ratio = Share price ÷ Sales per share
= 32.66 ÷ 26.32 = 1.24
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited noticeable volatility over the observed period from the first quarter of 2011 to the second quarter of 2016. Initially, prices fluctuated moderately, reaching a peak of $86.23 at the end of 2011. Subsequent years showed a general decline interrupted by short-term recoveries. Notably, from 2013 through mid-2014, prices were relatively stable within the $70 to $83 range before experiencing a sharp downward trend starting in late 2014. By the first half of 2016, the share price had decreased significantly, stabilizing near the low $30 range.
- Sales per Share Dynamics
- Sales per share data became available starting the first quarter of 2012. From that point, sales per share demonstrated an overall ascending trend until early 2015, climbing from approximately $34.55 to a peak of $55.10 in the second quarter of 2015. Following this peak, sales per share began a steady decline, falling to $26.32 by mid-2016. This pattern suggests a period of growth in revenue generation capacity per share before a marked contraction in recent quarters.
- Price-to-Sales Ratio (P/S) Analysis
- The price-to-sales ratio declined noticeably over the period analyzed. Starting around 2.5 in early 2012, it decreased steadily through subsequent quarters, reaching as low as 0.75 by late 2015. This decline indicates diminishing market valuation relative to sales. Interestingly, the ratio saw a modest recovery to above 1.0 by mid-2016 despite the continued fall in sales per share. The downward trend in P/S ratio, combined with declining share prices in the latter part of the period, reflects increasing market skepticism about the company's sales growth prospects or profitability.
- Overall Observations
- The data reveals a period of growth in sales per share coinciding with relatively high and stable share prices until around 2014. Following this, the company faced a sharp decline in both share price and sales per share, reflecting potential operational or market challenges. The P/S ratio trend supports this, with a marked decrease followed by slight normalization, possibly indicating adjusted market expectations or valuation corrections during the downturn.
Price to Book Value (P/BV)
National Oilwell Varco Inc., historical P/BV calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 377,631,319 | 377,060,946 | 375,800,956 | 375,747,606 | 383,808,711 | 387,867,938 | 409,935,076 | 430,573,759 | 430,238,649 | 429,047,822 | 428,526,178 | 428,100,188 | 427,518,321 | 427,281,236 | 426,639,780 | 426,905,434 | 426,422,229 | 426,213,862 | 424,224,491 | 423,842,605 | 423,677,637 | 423,077,225 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Total Company stockholders’ equity (in millions) | 16,118) | 16,355) | 16,383) | 18,126) | 18,927) | 19,037) | 20,692) | 21,523) | 21,332) | 22,697) | 22,230) | 21,627) | 20,859) | 20,549) | 20,239) | 19,574) | 18,820) | 18,416) | 17,619) | 17,134) | 16,790) | 16,289) | |||||||
| Book value per share (BVPS)2 | 42.68 | 43.37 | 43.59 | 48.24 | 49.31 | 49.08 | 50.48 | 49.99 | 49.58 | 52.90 | 51.88 | 50.52 | 48.79 | 48.09 | 47.44 | 45.85 | 44.13 | 43.21 | 41.53 | 40.43 | 39.63 | 38.50 | |||||||
| Share price1, 3 | 32.66 | 33.29 | 29.30 | 37.64 | 40.38 | 55.40 | 55.13 | 70.72 | 82.87 | 79.88 | 76.42 | 80.91 | 71.92 | 68.55 | 68.10 | 71.65 | 75.54 | 69.24 | 86.23 | 71.08 | 67.48 | 68.60 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/BV ratio4 | 0.77 | 0.77 | 0.67 | 0.78 | 0.82 | 1.13 | 1.09 | 1.41 | 1.67 | 1.51 | 1.47 | 1.60 | 1.47 | 1.43 | 1.44 | 1.56 | 1.71 | 1.60 | 2.08 | 1.76 | 1.70 | 1.78 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Schlumberger Ltd. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2016 Calculation
BVPS = Total Company stockholders’ equity ÷ No. shares of common stock outstanding
= 16,118,000,000 ÷ 377,631,319 = 42.68
3 Closing price as at the filing date of National Oilwell Varco Inc. Quarterly or Annual Report.
4 Q2 2016 Calculation
P/BV ratio = Share price ÷ BVPS
= 32.66 ÷ 42.68 = 0.77
5 Click competitor name to see calculations.
The financial data reveals several key trends concerning the share price, book value per share (BVPS), and the price-to-book value (P/BV) ratio over the examined timeframe.
- Share Price
- The share price displayed notable volatility across the periods. Initially, from March 2011 to December 2011, there was an upward trajectory, peaking at 86.23 US$. Subsequently, the price decreased with fluctuations, exhibiting peaks and troughs but generally trending downward from early 2014 onwards. Between March 2014 and March 2016, the share price experienced a substantial decline from near 80 US$ to approximately 33 US$, with the most pronounced decreases occurring in the latter half of 2014 through the end of 2015. This decline suggests possible market challenges or company-specific factors impacting investor confidence or operational performance during this period.
- Book Value per Share (BVPS)
- BVPS showed a consistent upward trend from March 2011 through December 2013, increasing from 38.5 US$ to nearly 52 US$. This steady increase reflects growth in the company's net asset value. However, starting in 2014, BVPS plateaued and exhibited slight fluctuations, peaking around 52.9 US$ at the end of 2013 and early 2014 before gradually declining to approximately 42.68 US$ by mid-2016. This deceleration followed by a decline may indicate challenges in asset growth or increased liabilities affecting book value.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio experienced a downward trend overall, indicating changes in market valuation relative to the company's net assets. Early on, the ratio was above 1.7, with a high of over 2.0 at the end of 2011. From 2012 onwards, the ratio generally declined, especially after mid-2014, dropping to below 1.0 by the end of 2015 and remaining near 0.77 in mid-2016. This suggests that the market started valuing the stock below its book value, possibly reflecting diminished investor expectations or perceived risks.