Price to Earnings (P/E)
since 2005
Calculation
Express Scripts Holding Co., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income attributable to Express Scripts1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 27, 2018 | 9.82 | = | 78.64 | ÷ | 8.00 | 8.00 | = | 4,517,400 | ÷ | 564,347,000 | |
| Feb 14, 2017 | 12.39 | = | 69.63 | ÷ | 5.62 | 5.62 | = | 3,404,400 | ÷ | 605,720,000 | |
| Feb 16, 2016 | 18.52 | = | 68.65 | ÷ | 3.71 | 3.71 | = | 2,476,400 | ÷ | 668,046,000 | |
| Feb 23, 2015 | 31.40 | = | 86.72 | ÷ | 2.76 | 2.76 | = | 2,007,600 | ÷ | 726,898,000 | |
| Feb 20, 2014 | 32.44 | = | 77.12 | ÷ | 2.38 | 2.38 | = | 1,844,600 | ÷ | 776,032,000 | |
| Feb 19, 2013 | 35.52 | = | 56.98 | ÷ | 1.60 | 1.60 | = | 1,312,900 | ÷ | 818,499,000 | |
| Feb 22, 2012 | 19.62 | = | 51.63 | ÷ | 2.63 | 2.63 | = | 1,275,800 | ÷ | 484,778,000 | |
| Feb 16, 2011 | 25.68 | = | 57.42 | ÷ | 2.24 | 2.24 | = | 1,181,200 | ÷ | 528,284,000 | |
| Feb 24, 2010 | 29.19 | = | 43.88 | ÷ | 1.50 | 1.50 | = | 827,600 | ÷ | 550,596,000 | |
| Feb 25, 2009 | 18.34 | = | 28.73 | ÷ | 1.57 | 1.57 | = | 776,100 | ÷ | 495,352,000 | |
| Feb 21, 2008 | 28.83 | = | 32.38 | ÷ | 1.12 | 1.12 | = | 567,800 | ÷ | 505,616,000 | |
| Feb 8, 2007 | 20.76 | = | 18.15 | ÷ | 0.87 | 0.87 | = | 474,400 | ÷ | 542,544,000 | |
| Feb 23, 2006 | 32.42 | = | 22.15 | ÷ | 0.68 | 0.68 | = | 400,000 | ÷ | 585,484,088 |
Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Express Scripts Holding Co. Annual Report.
The financial trajectory from 2006 to 2018 is characterized by substantial growth in fundamental earnings, contrasted by a significant compression in the valuation multiple during the final years of the period.
- Earnings Per Share (EPS) Performance
- A consistent upward trajectory in earnings per share is evident, rising from 0.68 US$ in 2006 to 8.00 US$ by 2018. While a notable contraction occurred in 2013, where EPS dropped to 1.60 US$ from 2.63 US$ in the preceding year, the subsequent recovery was robust, with earnings accelerating sharply between 2016 and 2018.
- Share Price Dynamics
- The share price exhibited an overall increase over the observed period, moving from 22.15 US$ in 2006 to a peak of 86.72 US$ in 2015, before ending the period at 78.64 US$ in 2018. The price movement generally mirrored the growth in earnings for the first decade, although the correlation weakened in the final three years.
- Price-to-Earnings (P/E) Ratio Trends
- The P/E ratio demonstrated significant volatility, peaking at 35.52 in 2013. A distinct pattern of valuation compression is observed starting in 2015; despite the continued and accelerated growth of earnings per share, the P/E ratio declined steadily from 31.40 in 2015 to a period low of 9.82 in 2018. This divergence indicates that while the company's profitability increased, the market's willingness to pay a premium for those earnings diminished significantly over time.
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Comparison to Competitors
Express Scripts Holding Co., P/E, long-term trends, comparison to competitors
| Express Scripts Holding Co. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Feb 27, 2018 | 9.82 | 220.29 | 15.44 | 70.95 | 29.96 | 20.77 |
| Feb 14, 2017 | 12.39 | 55.16 | 17.48 | 37.16 | 33.17 | 21.73 |
| Feb 16, 2016 | 18.52 | 12.83 | 12.99 | 34.24 | 40.56 | 18.18 |
| Feb 23, 2015 | 31.40 | 31.30 | 15.29 | 44.77 | 20.75 | 18.50 |
| Feb 20, 2014 | 32.44 | 23.25 | 9.95 | 22.82 | 14.99 | 12.35 |
| Feb 19, 2013 | 35.52 | 9.24 | 7.09 | 35.05 | 10.57 | 10.58 |
| Feb 22, 2012 | 19.62 | 18.67 | 8.36 | 39.05 | 13.37 | 10.78 |
| Feb 16, 2011 | 25.68 | 15.68 | 8.74 | 33.85 | 12.65 | 10.01 |
| Feb 24, 2010 | 29.19 | 14.69 | 5.53 | 54.30 | 17.11 | 9.91 |
| Feb 25, 2009 | 18.34 | 17.11 | 8.26 | 21.99 | 26.02 | 11.66 |
| Feb 21, 2008 | 28.83 | 23.82 | 12.02 | 79.87 | 20.81 | 12.85 |
| Feb 8, 2007 | 20.76 | 48.17 | 16.05 | 58.08 | 21.31 | 17.58 |
| Feb 23, 2006 | 32.42 | 20.03 | 20.66 | 36.68 | 35.12 | 24.20 |
Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Health Care Equipment & Services)
Express Scripts Holding Co., P/E, long-term trends, comparison to sector (health care equipment & services)
| Express Scripts Holding Co. | Health Care Equipment & Services | |
|---|---|---|
| Feb 27, 2018 | 9.82 | 28.17 |
| Feb 14, 2017 | 12.39 | 27.54 |
| Feb 16, 2016 | 18.52 | 20.20 |
| Feb 23, 2015 | 31.40 | 21.28 |
| Feb 20, 2014 | 32.44 | 14.93 |
| Feb 19, 2013 | 35.52 | 10.51 |
| Feb 22, 2012 | 19.62 | 14.07 |
| Feb 16, 2011 | 25.68 | 12.56 |
| Feb 24, 2010 | 29.19 | 11.86 |
| Feb 25, 2009 | 18.34 | 15.75 |
| Feb 21, 2008 | 28.83 | 17.58 |
| Feb 8, 2007 | 20.76 | 22.77 |
| Feb 23, 2006 | 32.42 | 24.03 |
Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Express Scripts Holding Co., P/E, long-term trends, comparison to industry (health care)
| Express Scripts Holding Co. | Health Care | |
|---|---|---|
| Feb 27, 2018 | 9.82 | 33.04 |
| Feb 14, 2017 | 12.39 | 21.90 |
| Feb 16, 2016 | 18.52 | 19.53 |
| Feb 23, 2015 | 31.40 | 21.38 |
| Feb 20, 2014 | 32.44 | 18.67 |
| Feb 19, 2013 | 35.52 | 15.77 |
| Feb 22, 2012 | 19.62 | 15.79 |
| Feb 16, 2011 | 25.68 | 15.12 |
| Feb 24, 2010 | 29.19 | 11.71 |
| Feb 25, 2009 | 18.34 | 13.07 |
| Feb 21, 2008 | 28.83 | 19.29 |
| Feb 8, 2007 | 20.76 | 18.61 |
| Feb 23, 2006 | 32.42 | 21.71 |
Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).