Stock Analysis on Net
Stock Analysis on Net

Abiomed Inc. (NASDAQ:ABMD)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 3, 2022.

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

Abiomed Inc., P/BV, long-term trends, calculation

Microsoft Excel
P/BV = Share price1, 2, 3 ÷ Book value per share1 (BVPS) BVPS1 = Stockholders’ equity1
(in thousands)		 ÷ No. shares of common stock outstanding2
May 20, 2022 = ÷ = ÷
May 21, 2021 = ÷ = ÷
May 21, 2020 = ÷ = ÷
May 23, 2019 = ÷ = ÷
May 24, 2018 = ÷ = ÷
May 25, 2017 = ÷ = ÷
May 26, 2016 = ÷ = ÷
May 28, 2015 = ÷ = ÷
May 28, 2014 = ÷ = ÷
May 28, 2013 = ÷ = ÷
Jun 4, 2012 = ÷ = ÷
Jun 2, 2011 = ÷ = ÷
Jun 8, 2010 = ÷ = ÷
Jun 8, 2009 = ÷ = ÷
Jun 16, 2008 = ÷ = ÷
Jun 13, 2007 = ÷ = ÷
Jun 14, 2006 = ÷ = ÷
Jun 14, 2005 = ÷ = ÷

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Abiomed Inc. Annual Report.

Share Price Trend
The share price exhibited significant volatility over the period analyzed. Initially, it rose from $9.25 in mid-2005 to a peak of $19.80 in mid-2008, followed by a sharp decline to $7.43 by mid-2009. After 2009, the share price generally trended upwards, with notable increases beginning in 2014 where it surged from $21.71 to $394.46 by 2018. Subsequent years showed correction and more moderate fluctuations, settling around the $235-$280 range by mid-2022.
Book Value per Share (BVPS) Trend
Book value per share presented consistent growth over the period. Starting at $2.15 in 2005, BVPS experienced minor fluctuations but maintained an upward trajectory, reaching $32.99 by mid-2022. This steady increase reflects growth in net asset value available to shareholders, indicating a strengthening equity base.
Price-to-Book Value (P/BV) Ratio Dynamics
The P/BV ratio fluctuated significantly, reflecting the disparity between market valuation and book value. Early years showed moderate ratios between 2.39 and 4.83, with a notable spike to 6.97 in 2008. The ratio peaked dramatically in 2018 at 25.44, coinciding with the peak share price. Afterwards, the ratio declined but remained elevated, fluctuating between approximately 7.15 and 13.17 through 2022. This suggests periods of high market optimism or expectations about growth potential, resulting in the market valuing shares at a substantial premium to book value.
Overall Insights
The data indicates strong growth in intrinsic value as evidenced by the increasing BVPS, coupled with large swings in market perception indicated by volatile share prices and elevated P/BV ratios. The substantial premium over book value in later years may reflect heightened investor confidence and growth expectations. The correction post-peak share price suggests market adjustments to more sustainable valuations yet still above historical norms. This pattern is typical of companies experiencing rapid expansion or transformational business phases.

Comparison to Competitors

Abiomed Inc., P/BV, long-term trends, comparison to competitors

Microsoft Excel
Abiomed Inc. Abbott Laboratories CVS Health Corp. Elevance Health Inc. Intuitive Surgical Inc. Medtronic PLC UnitedHealth Group Inc.
May 20, 2022
May 21, 2021
May 21, 2020
May 23, 2019
May 24, 2018
May 25, 2017
May 26, 2016
May 28, 2015
May 28, 2014
May 28, 2013
Jun 4, 2012
Jun 2, 2011
Jun 8, 2010
Jun 8, 2009
Jun 16, 2008
Jun 13, 2007
Jun 14, 2006
Jun 14, 2005

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).

Comparison to Sector (Health Care Equipment & Services)

Abiomed Inc., P/BV, long-term trends, comparison to sector (health care equipment & services)

Microsoft Excel
Abiomed Inc. Health Care Equipment & Services
May 20, 2022
May 21, 2021
May 21, 2020
May 23, 2019
May 24, 2018
May 25, 2017
May 26, 2016
May 28, 2015
May 28, 2014
May 28, 2013
Jun 4, 2012
Jun 2, 2011
Jun 8, 2010
Jun 8, 2009
Jun 16, 2008
Jun 13, 2007
Jun 14, 2006
Jun 14, 2005

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).

Comparison to Industry (Health Care)

Abiomed Inc., P/BV, long-term trends, comparison to industry (health care)

Microsoft Excel
Abiomed Inc. Health Care
May 20, 2022
May 21, 2021
May 21, 2020
May 23, 2019
May 24, 2018
May 25, 2017
May 26, 2016
May 28, 2015
May 28, 2014
May 28, 2013
Jun 4, 2012
Jun 2, 2011
Jun 8, 2010
Jun 8, 2009
Jun 16, 2008
Jun 13, 2007
Jun 14, 2006
Jun 14, 2005

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).