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

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

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

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)