Price to Book Value (P/BV)
since 2019
Calculation
Shockwave Medical Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Stockholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2024 | 14.53 | = | 259.89 | ÷ | 17.88 | 17.88 | = | 668,677 | ÷ | 37,396,816 | |
| Feb 27, 2023 | 13.53 | = | 189.52 | ÷ | 14.01 | 14.01 | = | 511,316 | ÷ | 36,495,387 | |
| Feb 25, 2022 | 25.89 | = | 175.59 | ÷ | 6.78 | 6.78 | = | 241,830 | ÷ | 35,653,563 | |
| Feb 26, 2021 | 18.03 | = | 116.76 | ÷ | 6.48 | 6.48 | = | 225,654 | ÷ | 34,842,744 | |
| Mar 12, 2020 | 4.78 | = | 29.00 | ÷ | 6.06 | 6.06 | = | 192,653 | ÷ | 31,765,657 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Shockwave Medical Inc. Annual Report.
The financial trajectory from 2020 to 2024 is characterized by substantial growth in market valuation accompanied by a significant expansion of the underlying book value per share.
- Share Price Performance
- An aggressive upward trend is observed in the share price, which rose from 29.00 US$ in March 2020 to 259.89 US$ by February 2024. This continuous growth indicates strong market demand and increasing investor confidence over the five-year period.
- Book Value per Share (BVPS) Evolution
- The BVPS remained relatively stable with modest increases between 2020 and 2022, moving from 6.06 US$ to 6.78 US$. A notable shift occurred between February 2022 and February 2023, where the BVPS more than doubled to 14.01 US$, eventually reaching 17.88 US$ in February 2024, reflecting a significant increase in the company's net asset value.
- Price to Book Value (P/BV) Ratio Analysis
- The P/BV ratio exhibited high volatility, starting at 4.78 in 2020 and peaking at 25.89 in February 2022. This sharp escalation suggests that the market price grew at a pace far exceeding the growth of book value during this interval. However, a correction occurred in 2023, with the ratio dropping to 13.53 and settling at 14.53 in 2024. This stabilization was driven by the rapid increase in BVPS, which began to align more closely with the rising share price, effectively reducing the valuation premium.
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Comparison to Competitors
Shockwave Medical Inc., P/BV, long-term trends, comparison to competitors
| Shockwave Medical Inc. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Feb 26, 2024 | 14.53 | 5.12 | 3.02 | 10.01 | 2.26 | 5.18 |
| Feb 27, 2023 | 13.53 | 5.06 | 1,553,040.70 | 7.78 | 2.24 | 5.81 |
| Feb 25, 2022 | 25.89 | 5.75 | 3.07 | 8.59 | 3.26 | 6.27 |
| Feb 26, 2021 | 18.03 | 6.65 | 2.19 | 9.53 | 2.48 | 4.83 |
| Mar 12, 2020 | 4.78 | 4.96 | 2.42 | 8.13 | 2.66 | 4.92 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Comparison to Sector (Health Care Equipment & Services)
Shockwave Medical Inc., P/BV, long-term trends, comparison to sector (health care equipment & services)
| Shockwave Medical Inc. | Health Care Equipment & Services | |
|---|---|---|
| Feb 26, 2024 | 14.53 | 4.43 |
| Feb 27, 2023 | 13.53 | 263,051.14 |
| Feb 25, 2022 | 25.89 | 5.01 |
| Feb 26, 2021 | 18.03 | 4.30 |
| Mar 12, 2020 | 4.78 | 4.00 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Comparison to Industry (Health Care)
Shockwave Medical Inc., P/BV, long-term trends, comparison to industry (health care)
| Shockwave Medical Inc. | Health Care | |
|---|---|---|
| Feb 26, 2024 | 14.53 | 5.94 |
| Feb 27, 2023 | 13.53 | 87,112.79 |
| Feb 25, 2022 | 25.89 | 5.48 |
| Feb 26, 2021 | 18.03 | 5.37 |
| Mar 12, 2020 | 4.78 | 5.14 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).