Price to Operating Profit (P/OP)
since 2019
Calculation
Shockwave Medical Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Income (loss) from operations1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2024 | 61.09 | = | 259.89 | ÷ | 4.25 | 4.25 | = | 159,093 | ÷ | 37,396,816 | |
| Feb 27, 2023 | 55.72 | = | 189.52 | ÷ | 3.40 | 3.40 | = | 124,134 | ÷ | 36,495,387 | |
| Feb 25, 2022 | — | = | 175.59 | ÷ | -0.02 | -0.02 | = | -871 | ÷ | 35,653,563 | |
| Feb 26, 2021 | — | = | 116.76 | ÷ | -1.88 | -1.88 | = | -65,663 | ÷ | 34,842,744 | |
| Mar 12, 2020 | — | = | 29.00 | ÷ | -1.63 | -1.63 | = | -51,839 | ÷ | 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 data reveals a significant transition from operational losses to sustainable profitability, accompanied by substantial growth in market valuation between 2020 and 2024.
- Operating Profit per Share
- A clear trajectory toward profitability is observed. The period from 2020 to 2022 was characterized by negative operating profits, with the most significant loss occurring in February 2021 at -1.88 US$. A critical inflection point was reached in February 2022, where the loss narrowed to -0.02 US$, effectively reaching a break-even state. This was followed by a sharp increase in profitability, rising to 3.40 US$ in 2023 and further increasing to 4.25 US$ in 2024.
- Share Price Appreciation
- The share price exhibited consistent and aggressive growth over the five-year period. Starting at 29.00 US$ in March 2020, the price rose to 116.76 US$ by February 2021 and maintained an upward trend to reach 259.89 US$ by February 2024. This represents a substantial increase in market valuation reflecting strong investor confidence.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio was not applicable during the initial years due to negative operating earnings. Following the shift to profitability, the ratio was established at 55.72 in February 2023. By February 2024, the ratio increased to 61.09. This upward movement indicates that the share price appreciated at a faster rate than the growth of the operating profit per share during the most recent annual period.
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Comparison to Competitors
Shockwave Medical Inc., P/OP, long-term trends, comparison to competitors
| Shockwave Medical Inc. | Abbott Laboratories | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|
| Feb 26, 2024 | 61.09 | 30.54 | 75.42 | 21.20 | 14.20 |
| Feb 27, 2023 | 55.72 | 22.18 | 54.49 | 20.48 | 15.89 |
| Feb 25, 2022 | — | 24.45 | 56.11 | 37.44 | 18.77 |
| Feb 26, 2021 | — | 40.69 | 88.37 | 26.29 | 14.12 |
| Mar 12, 2020 | — | 34.03 | 48.89 | 21.26 | 14.40 |
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).