Common Stock Valuation Ratios (Price Multiples)
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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Express Scripts Holding Co. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Current Valuation Ratios
Express Scripts Holding Co., current price multiples
| Express Scripts Holding Co. | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | ||
|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||
| Current share price (P) | ||||||||
| No. shares of common stock outstanding | ||||||||
| Growth rate (g) | ||||||||
| Earnings per share (EPS) | ||||||||
| Next year expected EPS | ||||||||
| Operating profit per share | ||||||||
| Sales per share | ||||||||
| Book value per share (BVPS) | ||||||||
| Valuation Ratios (Price Multiples) | ||||||||
| Price to earnings (P/E) | ||||||||
| Price to next year expected earnings | ||||||||
| Price-earnings-growth (PEG) | ||||||||
| Price to operating profit (P/OP) | ||||||||
| Price to sales (P/S) | ||||||||
| Price to book value (P/BV) | ||||||||
Based on: 10-K (reporting date: 2017-12-31).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Express Scripts Holding Co., historical price multiples
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| Price to earnings (P/E) | ||||||
| Price to operating profit (P/OP) | ||||||
| Price to sales (P/S) | ||||||
| Price to book value (P/BV) |
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).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio demonstrates a consistent downward trend from 32.44 in 2013 to 9.82 in 2017. This decline suggests that the market valuation of earnings has decreased significantly over these years, possibly indicating improved earnings or a market reassessment leading to a lower earnings multiple.
- Price to Operating Profit (P/OP) Ratio
- The Price to Operating Profit ratio similarly shows a decreasing pattern, falling from 16.85 in 2013 to 8.08 in 2017. This decline is indicative of a reduced valuation multiple relative to operating profit, which may reflect either improved operating profits or a more conservative market valuation approach over time.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio exhibits a slight decrease from 0.57 in 2013 to 0.44 in 2017, after a minor increase in 2014. The relatively stable but modest decline suggests that sales valuation remained fairly consistent with a slight reduction in market pricing relative to sales revenue during the period.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio peaked at 3.14 in 2014 before declining gradually to 2.45 in 2017. This pattern indicates a reduction in market valuation relative to the book value of equity, implying a possible market reassessment or changes in asset valuation perceptions over the analyzed years.
Price to Earnings (P/E)
Express Scripts Holding Co., historical P/E calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Net income attributable to Express Scripts (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-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).
1 Data adjusted for splits and stock dividends.
2 2017 Calculation
EPS = Net income attributable to Express Scripts ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Express Scripts Holding Co. Annual Report.
4 2017 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price experienced fluctuations over the analyzed period. Starting at $77.12 at the end of 2013, it increased to a peak of $86.72 in 2014. Subsequently, it declined to $68.65 in 2015 and remained relatively stable in 2016 at $69.63. In 2017, the share price recovered to $78.64, approaching the initial value observed in 2013.
- Earnings Per Share (EPS)
- EPS showed a consistent and strong upward trend from 2013 through 2017. Beginning at $2.38 in 2013, EPS increased gradually to $2.76 in 2014, with a notable rise to $3.71 in 2015. This growth accelerated in subsequent years, reaching $5.62 in 2016 and peaking at $8.00 in 2017. The consistent improvement indicates enhanced profitability on a per-share basis.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio demonstrated a clear downward trend over the five-year span. Starting from a relatively high value of 32.44 in 2013, it slightly declined to 31.40 in 2014. The ratio decreased more substantially in the following years, reaching 18.52 in 2015, then falling to 12.39 in 2016, and finally arriving at 9.82 in 2017. This decline suggests that the stock became more attractively valued relative to earnings, possibly reflecting improved earnings growth that outpaced share price appreciation.
Price to Operating Profit (P/OP)
Express Scripts Holding Co., historical P/OP calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Operating income (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-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).
1 Data adjusted for splits and stock dividends.
2 2017 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Express Scripts Holding Co. Annual Report.
4 2017 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited fluctuation over the five-year period. It increased from $77.12 in 2013 to $86.72 in 2014, followed by a considerable decline to $68.65 in 2015. In 2016, the share price showed a marginal recovery to $69.63 and further increased to $78.64 by the end of 2017. Overall, the share price in 2017 was slightly higher than the 2013 level but significantly lower than the peak in 2014.
- Operating Profit per Share
- The operating profit per share demonstrated a consistent upward trend throughout the period. Starting from $4.58 in 2013, it rose steadily each year, reaching $4.96 in 2014, and then saw larger increases to $6.50 in 2015 and $8.40 in 2016. The upward trajectory continued in 2017 with the operating profit per share reaching $9.74. This indicates a significant improvement in the company’s operating profitability on a per-share basis.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio showed a notable decline over the period, starting at 16.85 in 2013 and rising slightly to 17.50 in 2014. However, from 2015 onwards, the ratio decreased substantially to 10.57, then to 8.29 in 2016, and finally 8.08 in 2017. This downward trend suggests that the market valuation relative to operating profit per share was compressing, potentially indicating that the stock became more reasonably priced or investors were demanding a higher return relative to operating profits.
Price to Sales (P/S)
Express Scripts Holding Co., historical P/S calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Revenues (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-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).
1 Data adjusted for splits and stock dividends.
2 2017 Calculation
Sales per share = Revenues ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Express Scripts Holding Co. Annual Report.
4 2017 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited volatility over the five-year period. Initially, it increased from $77.12 in 2013 to a peak of $86.72 in 2014. Subsequently, there was a notable decline to $68.65 in 2015, followed by a slight recovery to $69.63 in 2016. By the end of 2017, the share price rose further to $78.64, approaching its 2013 level but remaining below the 2014 peak.
- Sales per Share Trend
- Sales per share showed a consistent and steady upward trajectory throughout the period. The value increased from $134.14 in 2013 to $177.31 in 2017, representing a continuous growth in sales output per share year over year. This positive trend suggests increasing revenue generation or efficiency relative to the number of shares outstanding.
- Price-to-Sales Ratio (P/S) Analysis
- The price-to-sales ratio revealed a declining trend from 0.57 in 2013 to 0.42 in 2016, with a modest increase to 0.44 in 2017. This decrease indicates that the market valuation relative to sales per share diminished over time, implying that while sales per share rose, the share price did not increase proportionally. The slight uptick in 2017 may suggest early signs of market revaluation or improved investor sentiment.
- Overall Insights
- The data reflects a company with improving sales performance per share, but with a share price that has not consistently tracked the same growth pattern. The declining P/S ratio points to a relative undervaluation or cautious investor expectations despite growing sales per share. The recovery in share price and P/S ratio towards the end of the period might signal renewed confidence in the company's market prospects.
Price to Book Value (P/BV)
Express Scripts Holding Co., historical P/BV calculation, comparison to benchmarks
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Total Express Scripts 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-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).
1 Data adjusted for splits and stock dividends.
2 2017 Calculation
BVPS = Total Express Scripts stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Express Scripts Holding Co. Annual Report.
4 2017 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited fluctuations over the five-year period. It started at $77.12 in 2013, increased to a peak of $86.72 in 2014, then declined notably to $68.65 in 2015. Following this decline, the share price showed a modest increase, reaching $69.63 in 2016 and further rising to $78.64 in 2017. Overall, the share price ended slightly higher than the initial value in 2013.
- Book Value per Share (BVPS)
- The BVPS showed a declining trend from $28.14 in 2013 to $26.01 in 2015, suggesting a decrease in equity value per share during this period. However, in the subsequent years, BVPS recorded a recovery, increasing to $26.80 in 2016 and $32.11 in 2017. By the end of 2017, the BVPS was higher than at the beginning of the period.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio started at 2.74 in 2013, increased to a high of 3.14 in 2014, then declined consistently to 2.64 in 2015, 2.60 in 2016, and further to 2.45 in 2017. This downward trend indicates that the market valuation in relation to the book value became more conservative over time, suggesting either a decrease in market optimism or an adjustment toward the company's intrinsic value.