Stock Analysis on Net
Stock Analysis on Net

Walgreens Boots Alliance Inc. (NASDAQ:WBA)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

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).


Historical Valuation Ratios (Summary)

Walgreens Boots Alliance Inc., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Price to earnings (P/E) 44.42 10.12 13.35 12.51 10.22 9.86 12.33 13.39 13.73 16.21 18.45 17.17 19.48 20.66 21.77 21.03 27.85 26.74 19.55 21.92 24.73 29.93 34.46 29.61
Price to operating profit (P/OP) 21.95 8.17 10.73 9.96 8.74 8.40 10.12 10.49 9.85 11.30 13.06 12.60 15.02 15.67 14.99 14.63 15.49 16.18 17.23 19.81 20.37 22.83 16.63 13.64
Price to sales (P/S) 0.24 0.25 0.36 0.36 0.36 0.37 0.49 0.51 0.46 0.54 0.59 0.59 0.72 0.76 0.77 0.75 0.75 0.77 0.78 0.89 1.04 1.19 0.93 0.75
Price to book value (P/BV) 1.63 1.49 2.09 2.12 2.04 2.04 2.56 2.59 2.14 2.45 2.74 2.55 2.74 2.92 3.06 2.94 2.86 3.05 2.85 3.00 3.10 3.28 3.48 2.80 3.30 2.95 2.73

Based on: 10-Q (filing date: 2020-07-09), 10-Q (filing date: 2020-04-02), 10-Q (filing date: 2020-01-08), 10-K (filing date: 2019-10-28), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-04-02), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-11), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-28), 10-Q (filing date: 2018-01-04), 10-K (filing date: 2017-10-25), 10-Q (filing date: 2017-06-29), 10-Q (filing date: 2017-04-05), 10-Q (filing date: 2017-01-05), 10-K (filing date: 2016-10-20), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-05), 10-Q (filing date: 2016-01-07), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-09), 10-Q (filing date: 2014-12-30), 10-K (filing date: 2014-10-20), 10-Q (filing date: 2014-07-01), 10-Q (filing date: 2014-03-27), 10-Q (filing date: 2013-12-27).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Walgreens Boots Alliance Inc.’s P/E ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Walgreens Boots Alliance Inc.’s P/OP ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Walgreens Boots Alliance Inc.’s P/S ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Walgreens Boots Alliance Inc.’s P/BV ratio decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020.

Price to Earnings (P/E)

Walgreens Boots Alliance Inc., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
No. shares of common stock outstanding1 866,534,089 877,220,195 885,861,624 892,541,146 903,143,463 914,298,978 943,444,736 949,164,514 992,411,822 991,665,577 990,668,837 1,009,549,218 1,070,096,486 1,080,950,894 1,079,409,628 1,083,282,661 1,082,317,487 1,080,245,720 1,078,746,871 1,088,793,571 1,092,282,712 1,090,756,509 945,642,298 950,386,889 956,560,612 954,331,100 950,171,285
Selected Financial Data (US$)
Net earnings (loss) attributable to Walgreens Boots Alliance, Inc. (in millions) (1,708) 946  845  678  1,025  1,156  1,123  1,512  1,342  1,349  821  802  1,162  1,060  1,054  1,030  1,103  930  1,110  26  1,302  2,042  850  (239) 722  754  695 
Earnings per share (EPS)2 0.88 3.98 4.18 4.46 5.33 5.61 5.65 5.29 4.35 4.17 3.88 4.04 4.02 3.93 3.81 3.85 2.93 3.12 4.15 3.88 3.62 3.09 2.21 2.03 0.00 0.00 0.00
Share price1, 3 39.01 40.32 55.83 55.80 54.52 55.36 69.61 70.90 59.70 67.59 71.60 69.36 78.37 81.17 83.03 81.02 81.55 83.36 81.17 84.95 89.55 92.62 76.05 60.20 73.78 64.35 57.43
Valuation Ratio
P/E ratio4 44.42 10.12 13.35 12.51 10.22 9.86 12.33 13.39 13.73 16.21 18.45 17.17 19.48 20.66 21.77 21.03 27.85 26.74 19.55 21.92 24.73 29.93 34.46 29.61
Benchmarks
P/E Ratio, Competitors5
CVS Health Corp. 10.94 14.15 20.65 17.46 25.50 23.08 10.05 10.69 13.42 15.08 15.71 14.91 15.35 21.72 21.62 18.98

Based on: 10-Q (filing date: 2020-07-09), 10-Q (filing date: 2020-04-02), 10-Q (filing date: 2020-01-08), 10-K (filing date: 2019-10-28), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-04-02), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-11), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-28), 10-Q (filing date: 2018-01-04), 10-K (filing date: 2017-10-25), 10-Q (filing date: 2017-06-29), 10-Q (filing date: 2017-04-05), 10-Q (filing date: 2017-01-05), 10-K (filing date: 2016-10-20), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-05), 10-Q (filing date: 2016-01-07), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-09), 10-Q (filing date: 2014-12-30), 10-K (filing date: 2014-10-20), 10-Q (filing date: 2014-07-01), 10-Q (filing date: 2014-03-27), 10-Q (filing date: 2013-12-27).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
EPS = (Net earnings (loss) attributable to Walgreens Boots Alliance, Inc.Q3 2020 + Net earnings (loss) attributable to Walgreens Boots Alliance, Inc.Q2 2020 + Net earnings (loss) attributable to Walgreens Boots Alliance, Inc.Q1 2020 + Net earnings (loss) attributable to Walgreens Boots Alliance, Inc.Q4 2019) ÷ No. shares of common stock outstanding
= (-1,708,000,000 + 946,000,000 + 845,000,000 + 678,000,000) ÷ 866,534,089 = 0.88

3 Closing price as at the filing date of Walgreens Boots Alliance Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/E ratio = Share price ÷ EPS
= 39.01 ÷ 0.88 = 44.42

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Walgreens Boots Alliance Inc.’s P/E ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Price to Operating Profit (P/OP)

Walgreens Boots Alliance Inc., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
No. shares of common stock outstanding1 866,534,089 877,220,195 885,861,624 892,541,146 903,143,463 914,298,978 943,444,736 949,164,514 992,411,822 991,665,577 990,668,837 1,009,549,218 1,070,096,486 1,080,950,894 1,079,409,628 1,083,282,661 1,082,317,487 1,080,245,720 1,078,746,871 1,088,793,571 1,092,282,712 1,090,756,509 945,642,298 950,386,889 956,560,612 954,331,100 950,171,285
Selected Financial Data (US$)
Operating income (loss) (in millions) (1,584) 1,233  1,013  878  1,203  1,517  1,400  1,511  1,601  1,980  1,322  1,114  1,517  1,479  1,447  1,140  1,533  1,860  1,468  836  1,401  1,377  1,054  969  1,026  1,275  924 
Operating profit per share2 1.78 4.93 5.21 5.60 6.23 6.59 6.88 6.76 6.06 5.98 5.48 5.50 5.22 5.18 5.54 5.54 5.26 5.15 4.71 4.29 4.40 4.06 4.57 4.41 0.00 0.00 0.00
Share price1, 3 39.01 40.32 55.83 55.80 54.52 55.36 69.61 70.90 59.70 67.59 71.60 69.36 78.37 81.17 83.03 81.02 81.55 83.36 81.17 84.95 89.55 92.62 76.05 60.20 73.78 64.35 57.43
Valuation Ratio
P/OP ratio4 21.95 8.17 10.73 9.96 8.74 8.40 10.12 10.49 9.85 11.30 13.06 12.60 15.02 15.67 14.99 14.63 15.49 16.18 17.23 19.81 20.37 22.83 16.63 13.64
Benchmarks
P/OP Ratio, Competitors5
CVS Health Corp. 6.19 7.83 9.44 8.02 15.80 18.65 12.59 11.14 6.90 7.44 7.19 8.21 8.07 7.65 7.77 10.89 11.74 10.52

Based on: 10-Q (filing date: 2020-07-09), 10-Q (filing date: 2020-04-02), 10-Q (filing date: 2020-01-08), 10-K (filing date: 2019-10-28), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-04-02), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-11), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-28), 10-Q (filing date: 2018-01-04), 10-K (filing date: 2017-10-25), 10-Q (filing date: 2017-06-29), 10-Q (filing date: 2017-04-05), 10-Q (filing date: 2017-01-05), 10-K (filing date: 2016-10-20), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-05), 10-Q (filing date: 2016-01-07), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-09), 10-Q (filing date: 2014-12-30), 10-K (filing date: 2014-10-20), 10-Q (filing date: 2014-07-01), 10-Q (filing date: 2014-03-27), 10-Q (filing date: 2013-12-27).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Operating profit per share = (Operating income (loss)Q3 2020 + Operating income (loss)Q2 2020 + Operating income (loss)Q1 2020 + Operating income (loss)Q4 2019) ÷ No. shares of common stock outstanding
= (-1,584,000,000 + 1,233,000,000 + 1,013,000,000 + 878,000,000) ÷ 866,534,089 = 1.78

3 Closing price as at the filing date of Walgreens Boots Alliance Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 39.01 ÷ 1.78 = 21.95

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Walgreens Boots Alliance Inc.’s P/OP ratio decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Price to Sales (P/S)

Walgreens Boots Alliance Inc., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
No. shares of common stock outstanding1 866,534,089 877,220,195 885,861,624 892,541,146 903,143,463 914,298,978 943,444,736 949,164,514 992,411,822 991,665,577 990,668,837 1,009,549,218 1,070,096,486 1,080,950,894 1,079,409,628 1,083,282,661 1,082,317,487 1,080,245,720 1,078,746,871 1,088,793,571 1,092,282,712 1,090,756,509 945,642,298 950,386,889 956,560,612 954,331,100 950,171,285
Selected Financial Data (US$)
Sales (in millions) 34,631  35,820  34,339  33,954  34,591  34,528  33,793  33,442  34,334  33,021  30,740  30,149  30,118  29,446  28,501  28,636  29,498  30,184  29,033  28,522  28,795  26,573  19,554  19,057  19,401  19,605  18,329 
Sales per share2 160.11 158.12 155.12 153.34 150.98 148.85 142.66 138.58 129.22 125.07 121.59 117.10 109.06 107.39 108.22 108.33 108.32 107.88 104.68 95.01 86.04 77.55 82.08 80.38 0.00 0.00 0.00
Share price1, 3 39.01 40.32 55.83 55.80 54.52 55.36 69.61 70.90 59.70 67.59 71.60 69.36 78.37 81.17 83.03 81.02 81.55 83.36 81.17 84.95 89.55 92.62 76.05 60.20 73.78 64.35 57.43
Valuation Ratio
P/S ratio4 0.24 0.25 0.36 0.36 0.36 0.37 0.49 0.51 0.46 0.54 0.59 0.59 0.72 0.76 0.77 0.75 0.75 0.77 0.78 0.89 1.04 1.19 0.93 0.75
Benchmarks
P/S Ratio, Competitors5
CVS Health Corp. 0.30 0.37 0.38 0.33 0.36 0.39 0.42 0.37 0.36 0.38 0.37 0.44 0.45 0.45 0.45 0.63 0.70 0.65

Based on: 10-Q (filing date: 2020-07-09), 10-Q (filing date: 2020-04-02), 10-Q (filing date: 2020-01-08), 10-K (filing date: 2019-10-28), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-04-02), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-11), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-28), 10-Q (filing date: 2018-01-04), 10-K (filing date: 2017-10-25), 10-Q (filing date: 2017-06-29), 10-Q (filing date: 2017-04-05), 10-Q (filing date: 2017-01-05), 10-K (filing date: 2016-10-20), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-05), 10-Q (filing date: 2016-01-07), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-09), 10-Q (filing date: 2014-12-30), 10-K (filing date: 2014-10-20), 10-Q (filing date: 2014-07-01), 10-Q (filing date: 2014-03-27), 10-Q (filing date: 2013-12-27).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Sales per share = (SalesQ3 2020 + SalesQ2 2020 + SalesQ1 2020 + SalesQ4 2019) ÷ No. shares of common stock outstanding
= (34,631,000,000 + 35,820,000,000 + 34,339,000,000 + 33,954,000,000) ÷ 866,534,089 = 160.11

3 Closing price as at the filing date of Walgreens Boots Alliance Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 39.01 ÷ 160.11 = 0.24

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Walgreens Boots Alliance Inc.’s P/S ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Book Value (P/BV)

Walgreens Boots Alliance Inc., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
No. shares of common stock outstanding1 866,534,089 877,220,195 885,861,624 892,541,146 903,143,463 914,298,978 943,444,736 949,164,514 992,411,822 991,665,577 990,668,837 1,009,549,218 1,070,096,486 1,080,950,894 1,079,409,628 1,083,282,661 1,082,317,487 1,080,245,720 1,078,746,871 1,088,793,571 1,092,282,712 1,090,756,509 945,642,298 950,386,889 956,560,612 954,331,100 950,171,285
Selected Financial Data (US$)
Total Walgreens Boots Alliance, Inc. shareholders’ equity (in millions) 20,736  23,720  23,661  23,512  24,133  24,770  25,609  26,007  27,736  27,355  25,929  27,466  30,600  30,067  29,325  29,880  30,881  29,506  30,709  30,861  31,563  30,814  20,636  20,457  21,417  20,784  20,021 
Book value per share (BVPS)2 23.93 27.04 26.71 26.34 26.72 27.09 27.14 27.40 27.95 27.58 26.17 27.21 28.60 27.82 27.17 27.58 28.53 27.31 28.47 28.34 28.90 28.25 21.82 21.52 22.39 21.78 21.07
Share price1, 3 39.01 40.32 55.83 55.80 54.52 55.36 69.61 70.90 59.70 67.59 71.60 69.36 78.37 81.17 83.03 81.02 81.55 83.36 81.17 84.95 89.55 92.62 76.05 60.20 73.78 64.35 57.43
Valuation Ratio
P/BV ratio4 1.63 1.49 2.09 2.12 2.04 2.04 2.56 2.59 2.14 2.45 2.74 2.55 2.74 2.92 3.06 2.94 2.86 3.05 2.85 3.00 3.10 3.28 3.48 2.80 3.30 2.95 2.73
Benchmarks
P/BV Ratio, Competitors5
CVS Health Corp. 1.21 1.47 1.47 1.23 1.25 1.29 2.17 1.95 1.73 1.88 1.94 2.34 2.38 2.15 2.18 3.01 3.10 2.67 2.94 3.30 3.06

Based on: 10-Q (filing date: 2020-07-09), 10-Q (filing date: 2020-04-02), 10-Q (filing date: 2020-01-08), 10-K (filing date: 2019-10-28), 10-Q (filing date: 2019-06-27), 10-Q (filing date: 2019-04-02), 10-Q (filing date: 2018-12-20), 10-K (filing date: 2018-10-11), 10-Q (filing date: 2018-06-28), 10-Q (filing date: 2018-03-28), 10-Q (filing date: 2018-01-04), 10-K (filing date: 2017-10-25), 10-Q (filing date: 2017-06-29), 10-Q (filing date: 2017-04-05), 10-Q (filing date: 2017-01-05), 10-K (filing date: 2016-10-20), 10-Q (filing date: 2016-07-06), 10-Q (filing date: 2016-04-05), 10-Q (filing date: 2016-01-07), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-09), 10-Q (filing date: 2014-12-30), 10-K (filing date: 2014-10-20), 10-Q (filing date: 2014-07-01), 10-Q (filing date: 2014-03-27), 10-Q (filing date: 2013-12-27).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
BVPS = Total Walgreens Boots Alliance, Inc. shareholders’ equity ÷ No. shares of common stock outstanding
= 20,736,000,000 ÷ 866,534,089 = 23.93

3 Closing price as at the filing date of Walgreens Boots Alliance Inc.’s Quarterly or Annual Report.

4 Q3 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 39.01 ÷ 23.93 = 1.63

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Walgreens Boots Alliance Inc.’s P/BV ratio decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020.