P/B Ratio of Lithium Producer, ALB, Nearing Historical Low
Albemarle has been beaten up throughout most of 2023, sliding over 60% from its historical high. After such a major decline, the Lithium monster's Price-to-book ratio is nearing a level comparable to its major lows in 2008, 2015, and 2020.
For a company that also has a trailing twelve month earnings yield that is at historical highs, such a selloff seems overblown and could be a time for the long-term investors to load up on a company with an otherwise solid outlook.
For a company that also has a trailing twelve month earnings yield that is at historical highs, such a selloff seems overblown and could be a time for the long-term investors to load up on a company with an otherwise solid outlook.