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).
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- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Historical Valuation Ratios (Summary)
Abiomed Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-K (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-K (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-K (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30).
The analysis of the financial ratios over the periods presented reveals several notable trends in valuation metrics.
- Price to Earnings (P/E) Ratio
- The P/E ratio data, starting from March 31, 2017, shows considerable volatility. It peaked significantly at 156.41 around June 30, 2018, followed by a steady decline to a low of 36.03 by September 30, 2019. Subsequently, the ratio fluctuates between roughly 36 and 104, exhibiting a tendency for sharp rises followed by declines. More recently, from March 31, 2021, to September 30, 2022, the P/E ratio decreased from 102.53 to 63.15, indicating a correction after elevated valuation levels.
- Price to Operating Profit (P/OP) Ratio
- This ratio exhibits a broadly similar pattern to the P/E ratio. From a peak of 111.65 at June 30, 2018, there is a continuous downward trend to around 34.43 by March 31, 2020. After this low, the P/OP ratio rebounds sharply to above 100 by March 31, 2021, followed by another gradual decline to 66.43 by September 30, 2022. This suggests oscillations in market expectations relative to operating profit, with periods of significant repricing.
- Price to Sales (P/S) Ratio
- The P/S ratio reached its highest point at 29.55 in June 30, 2018, consistent with peaks seen in the other valuation multiples. Thereafter, it declined steadily to just above 10 by March 31, 2020. Subsequently, there is a moderate recovery trend, with values stabilizing between approximately 12 and 18 from mid-2020 through September 2022. This indicates fluctuations in market valuation relative to revenues, with an overall decline from earlier highs and partial recovery.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio shows a more gradual and less volatile movement compared to other ratios. Starting at 13.52 in June 30, 2016, it declines to 8.28 by March 31, 2020. Afterward, it exhibits moderate fluctuations, reaching a low of 7.15 in June 30, 2022, before rising again to 10.94 by September 30, 2022. This pattern suggests relatively stable valuations against book value, with mild adjustments reflecting changing market perceptions of net asset value.
Overall, the valuation multiples experienced peaks around mid-2018, followed by sustained declines through early 2020. Subsequently, the ratios display volatility with intermittent recoveries but generally remain below their previous highs. This may reflect shifts in market sentiment, profitability expectations, and revenue growth prospects over the analyzed periods. The patterns illustrate a market environment of oscillating confidence and reassessment of value, which is common in dynamic sectors or companies undergoing evolving financial performance trends.
Price to Earnings (P/E)
Abiomed Inc., historical P/E calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Net income (loss) (in thousands) | ||||||||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||||||
| CVS Health Corp. | ||||||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-K (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-K (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-K (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
EPS
= (Net income (loss)Q2 2023
+ Net income (loss)Q1 2023
+ Net income (loss)Q4 2022
+ Net income (loss)Q3 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Abiomed Inc. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The share price displayed notable volatility over the observed periods, beginning around $118.58 in mid-2016, with a general upward trajectory reaching a peak of approximately $394.46 by early 2018. This was followed by a downward correction, dropping near $196 by the end of 2019, before experiencing fluctuations and a subsequent rise toward about $373.63 by late 2022. The price movements suggest periods of strong investor confidence punctuated by phases of market adjustment or profit-taking.
Earnings per share (EPS) showed a general upward trend from early 2017 through late 2019, increasing steadily from $1.19 to a peak above $5.74. This growth indicates improving profitability and operational performance during that interval. However, from early 2020 onward, EPS displayed variability and a partial decline, with values occasionally falling below prior highs, before rising again close to $5.92 in late 2022. This reveals some instability in earnings performance, potentially influenced by external or operational factors affecting profitability.
The price-to-earnings (P/E) ratio exhibited considerable fluctuation throughout the timeframe. Initially high P/E values, above 100 in 2017 and early 2018, point toward investor optimism or high growth expectations despite moderate earnings. Over time, as EPS increased, the P/E ratio generally decreased, reaching lower values around the 30s and 40s by late 2019, which reflects a relative improvement in earnings relative to share price. However, during the 2020 period, the P/E ratio spiked again to above 100, suggesting a temporary decoupling between earnings and share price or increased market uncertainty. Later periods showed a reduction in P/E to more moderate levels around 60, indicating a rebalancing of investor valuation relative to earnings.
Overall, the financial indicators reveal an entity experiencing growth in earnings with associated volatility in share price and valuation multiples. The rise in EPS over the initial years corresponds with the initial surge in share price, yet market valuation through P/E ratios at times suggests investor sentiment and external influences considerably impacted the stock’s market performance independently of earnings consistency.
Price to Operating Profit (P/OP)
Abiomed Inc., historical P/OP calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Income (loss) from operations (in thousands) | ||||||||||||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||||||
| CVS Health Corp. | ||||||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-K (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-K (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-K (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
Operating profit per share
= (Income (loss) from operationsQ2 2023
+ Income (loss) from operationsQ1 2023
+ Income (loss) from operationsQ4 2022
+ Income (loss) from operationsQ3 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Abiomed Inc. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The data reveals several noteworthy trends in the financial metrics over the examined periods.
- Share Price
- Share price demonstrated significant volatility across the observed quarters. Initially, the price showed a moderate upward trajectory from $118.58 to a peak of $394.46 around the first quarter of 2018. Subsequently, the price experienced a substantial decline, falling to approximately $204.87 by mid-2019. A rebound phase followed, with fluctuations leading to a secondary peak of $348.86 in mid-2021. The latter quarters experienced another decrease to around $235.75 by mid-2022, before rising again toward the end of the period to $373.63. Overall, the share price moved within a broad range, reflecting high variability possibly influenced by external market conditions or company-specific events.
- Operating Profit Per Share (OPPS)
- The operating profit per share initiated its recorded journey in the first quarter of 2017 with a value of $2.06, subsequently demonstrating a steady upward trend, peaking near $5.69 in early 2020. Following this peak, there was a notable decline in the following quarters, reaching approximately $3.04 by the end of 2021. Thereafter, the OPPS rebounded strongly, ending near $5.62 by the final quarter observed. This reflects an overall positive growth in profitability per share over the longer term, notwithstanding intermittent periods of weakening performance.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio exhibited significant fluctuations across the analyzed timeline. Initial readings from mid-2017 approximated 66, escalating to a peak of around 111 in mid-2018. Following this peak, the ratio decreased sharply, bottoming near 34 in late 2019 and early 2020, indicating a favorable valuation relative to operating profits at that time. However, the ratio surged again during 2020 and 2021, exceeding 100 at one point, which may imply periods of overvaluation or heightened market expectations. A subsequent downward movement occurred toward the end of the dataset, finishing near 66, which suggests a normalization of valuation metrics relative to operating profit.
In summary, the data indicates that operating profitability improved over the years despite some cyclical downturns, while share price volatility was pronounced, likely influenced by broader market dynamics. The valuation metric, P/OP ratio, reflected these movements with peaks corresponding to market exuberance and troughs signaling potential undervaluations relative to operating performance. Such trends suggest a company undergoing phases of robust growth and investor sentiment shifts, requiring careful monitoring of both financial results and market conditions for informed decision-making.
Price to Sales (P/S)
Abiomed Inc., historical P/S calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Revenue (in thousands) | ||||||||||||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||||||
| CVS Health Corp. | ||||||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-K (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-K (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-K (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
Sales per share
= (RevenueQ2 2023
+ RevenueQ1 2023
+ RevenueQ4 2022
+ RevenueQ3 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Abiomed Inc. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share price
- The share price has exhibited considerable volatility over the observed periods. Starting at $118.58 in June 2016, the price initially declined slightly and then experienced notable growth, peaking at $394.46 in March 2018. This peak was followed by fluctuations, with prices dropping to $196.01 in December 2019 before rising again to reach $348.86 in June 2021. Subsequently, the share price dropped to $235.75 by March 2022 but demonstrated recovery by the end of the period, closing at $373.63 in September 2022. Overall, the share price shows a pattern of sharp rises and falls with an underlying upward trend over the long term.
- Sales per share
- Sales per share data is available starting from March 2017, showing a consistent upward trajectory. The figure increased steadily from $10.16 to $23.82 by September 2022. This growth indicates improving operational performance and revenue generation on a per-share basis, with no evident periods of decline or stagnation within the available data.
- Price-to-Sales (P/S) Ratio
- The P/S ratio reveals substantial variation throughout the timeline. Initially, from March 2017, the ratio rose from 13.37 to a peak of 29.55 in June 2018, reflecting strong investor optimism or high valuation relative to sales. From this peak, the ratio steadily declined to a low of 10.41 in June 2022, indicating either a reset in market valuation or catch-up in sales growth relative to share price. Toward the end of the period, the ratio increased again, reaching 15.69 in September 2022. This pattern suggests that market valuation multiples have fluctuated considerably, with periods of both premium and more conservative valuation in relation to sales.
- General Insights
- Despite the volatility in the share price and P/S ratio, the steady increase in sales per share suggests sound business growth underlying these valuation changes. The divergence between the share price trends and sales growth implies that market sentiment and external factors have significantly influenced valuation multiples. The recovery in share price alongside rising P/S ratios towards the end of the period may indicate renewed investor confidence or expectations of higher future growth. The overall data suggest a company with improving fundamental performance, navigating cycles of market re-evaluation.
Price to Book Value (P/BV)
Abiomed Inc., historical P/BV calculation (quarterly data)
| Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Stockholders’ equity (in thousands) | ||||||||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Abbott Laboratories | ||||||||||||||||||||||||||||||||||
| CVS Health Corp. | ||||||||||||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-K (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-K (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-K (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Abiomed Inc. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The share price demonstrates significant volatility over the observed periods with an overall increasing trend interrupted by notable fluctuations. Starting at approximately $118.58 in mid-2016, the price generally ascends, peaking at $394.46 in early 2018. After this peak, a decline is observed with the share price dropping below $200 by the end of 2019 and early 2020. A recovery follows, with the price again rising above $300 in 2020 and 2021 before experiencing further fluctuations, ending at around $373.63 in late 2022.
Book value per share (BVPS) shows a steady and consistent upward trend throughout the periods analyzed. Beginning at $8.77 in mid-2016, the BVPS increases almost monotonically, reaching $34.15 by the third quarter of 2022. This steady growth reflects continued accumulation of shareholder equity over the years.
The price-to-book value ratio (P/BV) reveals notable variations correlating closely with the share price movements relative to the steadily rising book value. Initially, the ratio is relatively high at 13.52 in mid-2016, dipping to a low near 8.28 to 8.44 in early 2020 during periods of lower share price. It reaches its maximum of 25.44 in early 2018, reflecting the share price surge that significantly outpaced book value growth. Subsequently, the ratio trends downward through 2019 and into 2020, indicating a period where the share price was less elevated relative to book value. Towards the end of the analysis period, the ratio fluctuates moderately between around 7.15 and 12.11, indicating return of market valuation variability in relation to book value.
- Share Price
- Demonstrates an overall upward trajectory with substantial volatility and cyclical peaks and troughs, reaching highest levels in early 2018 and late 2022.
- Book Value Per Share (BVPS)
- Consistently increases over the entire period, indicating steady growth in the company's net asset value per share.
- Price-to-Book Value Ratio (P/BV)
- Varies widely in response to share price fluctuations, peaking during share price surges and declining when share price underperforms relative to book value; suggests changing market sentiment and valuation over time.
Overall, the data reflects a company with a solid foundation of growing equity alongside a market valuation that experiences periods of significant optimism and correction. The consistent rise in book value suggests underlying operational strength, while fluctuations in share price and P/BV indicate varying market perceptions and investor sentiment throughout the periods analyzed.