Price to Earnings (P/E)
since 2005
Calculation
Abiomed Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| May 20, 2022 | 78.69 | = | 235.75 | ÷ | 3.00 | 3.00 | = | 136,505 | ÷ | 45,563,937 | |
| May 21, 2021 | 56.24 | = | 280.00 | ÷ | 4.98 | 4.98 | = | 225,525 | ÷ | 45,295,979 | |
| May 21, 2020 | 43.48 | = | 196.32 | ÷ | 4.52 | 4.52 | = | 203,009 | ÷ | 44,956,959 | |
| May 23, 2019 | 45.76 | = | 262.64 | ÷ | 5.74 | 5.74 | = | 259,016 | ÷ | 45,124,729 | |
| May 24, 2018 | 156.41 | = | 394.46 | ÷ | 2.52 | 2.52 | = | 112,170 | ÷ | 44,477,837 | |
| May 25, 2017 | 114.25 | = | 135.88 | ÷ | 1.19 | 1.19 | = | 52,116 | ÷ | 43,819,330 | |
| May 26, 2016 | 110.68 | = | 98.80 | ÷ | 0.89 | 0.89 | = | 38,147 | ÷ | 42,735,136 | |
| May 28, 2015 | 22.24 | = | 60.57 | ÷ | 2.72 | 2.72 | = | 113,688 | ÷ | 41,737,054 | |
| May 28, 2014 | 117.92 | = | 21.71 | ÷ | 0.18 | 0.18 | = | 7,351 | ÷ | 39,926,903 | |
| May 28, 2013 | 57.20 | = | 22.17 | ÷ | 0.39 | 0.39 | = | 15,014 | ÷ | 38,735,227 | |
| Jun 4, 2012 | 520.81 | = | 19.77 | ÷ | 0.04 | 0.04 | = | 1,495 | ÷ | 39,383,341 | |
| Jun 2, 2011 | — | = | 17.81 | ÷ | -0.31 | -0.31 | = | -11,755 | ÷ | 38,482,962 | |
| Jun 8, 2010 | — | = | 9.55 | ÷ | -0.51 | -0.51 | = | -19,024 | ÷ | 37,433,189 | |
| Jun 8, 2009 | — | = | 7.43 | ÷ | -0.85 | -0.85 | = | -31,597 | ÷ | 37,350,501 | |
| Jun 16, 2008 | — | = | 19.80 | ÷ | -1.24 | -1.24 | = | -40,930 | ÷ | 32,956,535 | |
| Jun 13, 2007 | — | = | 11.23 | ÷ | -0.86 | -0.86 | = | -27,881 | ÷ | 32,439,174 | |
| Jun 14, 2006 | — | = | 12.66 | ÷ | -1.11 | -1.11 | = | -29,449 | ÷ | 26,532,524 | |
| Jun 14, 2005 | — | = | 9.25 | ÷ | -0.09 | -0.09 | = | -2,342 | ÷ | 26,153,672 |
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.
The financial trajectory is characterized by a prolonged period of negative earnings followed by a transition to profitability and significant valuation expansion. From 2005 through 2011, consistent negative earnings per share precluded the calculation of a price-to-earnings (P/E) ratio, reflecting a phase of operational losses.
- Transition to Profitability and Initial Valuation
- The shift to positive earnings occurred in 2012, which resulted in an initial P/E ratio peak of 520.81 due to the minimal magnitude of the first positive earnings per share. This ratio experienced immediate volatility, descending to 57.20 in 2013 before increasing to 117.92 in 2014.
- Valuation Expansion and Peak Share Price
- Between 2015 and 2018, the P/E ratio exhibited extreme fluctuations, dropping to a low of 22.24 in 2015 before climbing to a high of 156.41 by 2018. This period aligned with a rapid escalation in share price, which reached a historical maximum of 394.46 in 2018.
- Earnings Growth and Ratio Normalization
- A significant correction in valuation occurred in 2019, with the P/E ratio falling to 45.76. This normalization was driven by a substantial increase in earnings per share, which peaked at 5.74 in the same year. While the P/E ratio remained relatively stable through 2020 and 2021, a secondary increase to 78.69 was observed in 2022, coinciding with a reduction in earnings per share to 3.00.
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Comparison to Competitors
Abiomed Inc., P/E, long-term trends, comparison to competitors
| Abiomed Inc. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| May 20, 2022 | 78.69 | 26.76 | 9,358,713.46 | 64.99 | 23.38 | 22.46 |
| May 21, 2021 | 56.24 | 29.13 | 18.13 | 59.94 | 46.56 | 26.03 |
| May 21, 2020 | 43.48 | 48.49 | 15.87 | 87.47 | 26.30 | 20.54 |
| May 23, 2019 | 45.76 | 41.83 | 15.96 | 48.72 | 28.78 | 20.48 |
| May 24, 2018 | 156.41 | 56.47 | 21.45 | 53.03 | 37.80 | 21.09 |
| May 25, 2017 | 114.25 | 220.29 | 15.44 | 70.95 | 29.96 | 20.77 |
| May 26, 2016 | 110.68 | 55.16 | 17.48 | 37.16 | 33.17 | 21.73 |
| May 28, 2015 | 22.24 | 12.83 | 12.99 | 34.24 | 40.56 | 18.18 |
| May 28, 2014 | 117.92 | 31.30 | 15.29 | 44.77 | 20.75 | 18.50 |
| May 28, 2013 | 57.20 | 23.25 | 9.95 | 22.82 | 14.99 | 12.35 |
| Jun 4, 2012 | 520.81 | 9.24 | 7.09 | 35.05 | 10.57 | 10.58 |
| Jun 2, 2011 | — | 18.67 | 8.36 | 39.05 | 13.37 | 10.78 |
| Jun 8, 2010 | — | 15.68 | 8.74 | 33.85 | 12.65 | 10.01 |
| Jun 8, 2009 | — | 14.69 | 5.53 | 54.30 | 17.11 | 9.91 |
| Jun 16, 2008 | — | 17.11 | 8.26 | 21.99 | 26.02 | 11.66 |
| Jun 13, 2007 | — | 23.82 | 12.02 | 79.87 | 20.81 | 12.85 |
| Jun 14, 2006 | — | 48.17 | 16.05 | 58.08 | 21.31 | 17.58 |
| Jun 14, 2005 | — | 20.03 | 20.66 | 36.68 | 35.12 | 24.20 |
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/E, long-term trends, comparison to sector (health care equipment & services)
| Abiomed Inc. | Health Care Equipment & Services | |
|---|---|---|
| May 20, 2022 | 78.69 | 1,429,718.32 |
| May 21, 2021 | 56.24 | 28.98 |
| May 21, 2020 | 43.48 | 27.23 |
| May 23, 2019 | 45.76 | 25.22 |
| May 24, 2018 | 156.41 | 28.84 |
| May 25, 2017 | 114.25 | 28.17 |
| May 26, 2016 | 110.68 | 27.54 |
| May 28, 2015 | 22.24 | 20.20 |
| May 28, 2014 | 117.92 | 21.28 |
| May 28, 2013 | 57.20 | 14.93 |
| Jun 4, 2012 | 520.81 | 10.51 |
| Jun 2, 2011 | — | 14.07 |
| Jun 8, 2010 | — | 12.56 |
| Jun 8, 2009 | — | 11.86 |
| Jun 16, 2008 | — | 15.75 |
| Jun 13, 2007 | — | 17.58 |
| Jun 14, 2006 | — | 22.77 |
| Jun 14, 2005 | — | 24.03 |
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/E, long-term trends, comparison to industry (health care)
| Abiomed Inc. | Health Care | |
|---|---|---|
| May 20, 2022 | 78.69 | 351,256.81 |
| May 21, 2021 | 56.24 | 21.55 |
| May 21, 2020 | 43.48 | 32.22 |
| May 23, 2019 | 45.76 | 22.09 |
| May 24, 2018 | 156.41 | 24.32 |
| May 25, 2017 | 114.25 | 33.04 |
| May 26, 2016 | 110.68 | 21.90 |
| May 28, 2015 | 22.24 | 19.53 |
| May 28, 2014 | 117.92 | 21.38 |
| May 28, 2013 | 57.20 | 18.67 |
| Jun 4, 2012 | 520.81 | 15.77 |
| Jun 2, 2011 | — | 15.79 |
| Jun 8, 2010 | — | 15.12 |
| Jun 8, 2009 | — | 11.71 |
| Jun 16, 2008 | — | 13.07 |
| Jun 13, 2007 | — | 19.29 |
| Jun 14, 2006 | — | 18.61 |
| Jun 14, 2005 | — | 21.71 |
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).