Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Difficulty: Beginner


Historical Valuation Ratios (Summary)

AbbVie Inc., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
Price to earnings (P/E) 17.29 22.09 24.91 35.47 22.56 17.16 16.90 16.54 15.75 18.94 18.46 17.01 37.22 54.50 57.23 55.08 26.40 20.01 20.07 19.64
Price to operating profit (P/OP) 12.32 14.01 15.78 19.63 14.77 11.57 11.19 10.49 10.48 12.51 12.44 11.61 20.93 27.81 27.74 28.64 18.28 14.46 14.55 14.31
Price to sales (P/S) 4.06 4.60 5.37 6.67 5.50 4.25 4.07 3.84 3.79 4.38 4.25 3.83 4.78 5.41 5.09 4.90 4.99 4.33 4.37 4.31
Price to book value (P/BV) 44.74 36.95 22.43 18.89 21.33 21.24 14.80 19.21 21.77 22.17 21.56 20.64 75.48 56.09 21.09 15.99 17.69 18.05 21.12 19.92 23.29

Based on: 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-07), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-09), 10-K (filing date: 2014-02-21), 10-Q (filing date: 2013-11-12), 10-Q (filing date: 2013-08-09), 10-Q (filing date: 2013-05-08).

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. AbbVie Inc.'s P/E ratio declined from Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.
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. AbbVie Inc.'s P/OP ratio declined from Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.
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. AbbVie Inc.'s P/S ratio declined from Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.
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.

Price to Earnings (P/E)

AbbVie Inc., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
No. shares of common stock outstanding1 1,504,216,327 1,514,272,698 1,586,879,451 1,587,972,655 1,596,429,740 1,594,094,698 1,591,540,513 1,593,920,285 1,625,099,012 1,628,542,359 1,617,358,607 1,611,238,226 1,634,746,917 1,655,276,338 1,593,076,097 1,593,886,909 1,593,265,381 1,591,699,124 1,590,066,459 1,588,518,764 1,590,861,812 1,585,428,724 1,583,729,114
Selected Financial Data (USD $)
Net earnings (in millions) 2,747  1,983  2,783  52  1,631  1,915  1,711  1,391  1,598  1,610  1,354  1,517  1,239  1,366  1,022  (810) 506  1,098  980  1,128  964  1,068  968 
Earnings per share (EPS)3 5.03 4.26 4.02 3.34 4.16 4.15 3.96 3.73 3.74 3.51 3.39 3.19 1.72 1.26 1.14 1.11 2.33 2.62 2.60 2.60 0.00 0.00 0.00
Share price1, 2 86.96 94.06 100.17 118.60 93.96 71.22 66.99 61.77 58.91 66.54 62.51 54.29 64.13 68.62 65.24 61.30 61.50 52.43 52.26 51.04 47.48 44.71 43.49
P/E ratio4 17.29 22.09 24.91 35.47 22.56 17.16 16.90 16.54 15.75 18.94 18.46 17.01 37.22 54.50 57.23 55.08 26.40 20.01 20.07 19.64

Based on: 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-07), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-09), 10-K (filing date: 2014-02-21), 10-Q (filing date: 2013-11-12), 10-Q (filing date: 2013-08-09), 10-Q (filing date: 2013-05-08).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of AbbVie Inc.'s Quarterly or Annual Report.

Q3 2018 Calculations

3 EPS = (Net earningsQ3 2018 + Net earningsQ2 2018 + Net earningsQ1 2018 + Net earningsQ4 2017) ÷ No. shares of common stock outstanding
= (2,747,000,000 + 1,983,000,000 + 2,783,000,000 + 52,000,000) ÷ 1,504,216,327 = 5.03

4 P/E ratio = Share price ÷ EPS
= 86.96 ÷ 5.03 = 17.29

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. AbbVie Inc.'s P/E ratio declined from Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.

Price to Operating Profit (P/OP)

AbbVie Inc., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
No. shares of common stock outstanding1 1,504,216,327 1,514,272,698 1,586,879,451 1,587,972,655 1,596,429,740 1,594,094,698 1,591,540,513 1,593,920,285 1,625,099,012 1,628,542,359 1,617,358,607 1,611,238,226 1,634,746,917 1,655,276,338 1,593,076,097 1,593,886,909 1,593,265,381 1,591,699,124 1,590,066,459 1,588,518,764 1,590,861,812 1,585,428,724 1,583,729,114
Selected Financial Data (USD $)
Operating earnings (in millions) 3,159  2,762  2,903  1,794  2,705  2,674  2,419  2,358  2,361  2,387  2,278  2,113  1,885  1,852  1,687  (415) 960  1,515  1,351  1,535  1,371  1,453  1,305 
Operating profit per share3 7.06 6.71 6.35 6.04 6.36 6.16 5.98 5.89 5.62 5.32 5.03 4.68 3.06 2.47 2.35 2.14 3.36 3.63 3.59 3.57 0.00 0.00 0.00
Share price1, 2 86.96 94.06 100.17 118.60 93.96 71.22 66.99 61.77 58.91 66.54 62.51 54.29 64.13 68.62 65.24 61.30 61.50 52.43 52.26 51.04 47.48 44.71 43.49
P/OP ratio4 12.32 14.01 15.78 19.63 14.77 11.57 11.19 10.49 10.48 12.51 12.44 11.61 20.93 27.81 27.74 28.64 18.28 14.46 14.55 14.31

Based on: 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-07), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-09), 10-K (filing date: 2014-02-21), 10-Q (filing date: 2013-11-12), 10-Q (filing date: 2013-08-09), 10-Q (filing date: 2013-05-08).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of AbbVie Inc.'s Quarterly or Annual Report.

Q3 2018 Calculations

3 Operating profit per share = (Operating earningsQ3 2018 + Operating earningsQ2 2018 + Operating earningsQ1 2018 + Operating earningsQ4 2017) ÷ No. shares of common stock outstanding
= (3,159,000,000 + 2,762,000,000 + 2,903,000,000 + 1,794,000,000) ÷ 1,504,216,327 = 7.06

4 P/OP ratio = Share price ÷ Operating profit per share
= 86.96 ÷ 7.06 = 12.32

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. AbbVie Inc.'s P/OP ratio declined from Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.

Price to Sales (P/S)

AbbVie Inc., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
No. shares of common stock outstanding1 1,504,216,327 1,514,272,698 1,586,879,451 1,587,972,655 1,596,429,740 1,594,094,698 1,591,540,513 1,593,920,285 1,625,099,012 1,628,542,359 1,617,358,607 1,611,238,226 1,634,746,917 1,655,276,338 1,593,076,097 1,593,886,909 1,593,265,381 1,591,699,124 1,590,066,459 1,588,518,764 1,590,861,812 1,585,428,724 1,583,729,114
Selected Financial Data (USD $)
Net revenues (in millions) 8,236  8,278  7,934  7,739  6,995  6,944  6,538  6,796  6,432  6,452  5,958  6,400  5,944  5,475  5,040  5,452  5,019  4,926  4,563  5,111  4,658  4,692  4,329 
Sales per share3 21.40 20.44 18.66 17.77 17.08 16.76 16.47 16.08 15.53 15.20 14.70 14.19 13.40 12.68 12.83 12.52 12.31 12.10 11.96 11.83 0.00 0.00 0.00
Share price1, 2 86.96 94.06 100.17 118.60 93.96 71.22 66.99 61.77 58.91 66.54 62.51 54.29 64.13 68.62 65.24 61.30 61.50 52.43 52.26 51.04 47.48 44.71 43.49
P/S ratio4 4.06 4.60 5.37 6.67 5.50 4.25 4.07 3.84 3.79 4.38 4.25 3.83 4.78 5.41 5.09 4.90 4.99 4.33 4.37 4.31

Based on: 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-07), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-09), 10-K (filing date: 2014-02-21), 10-Q (filing date: 2013-11-12), 10-Q (filing date: 2013-08-09), 10-Q (filing date: 2013-05-08).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of AbbVie Inc.'s Quarterly or Annual Report.

Q3 2018 Calculations

3 Sales per share = (Net revenuesQ3 2018 + Net revenuesQ2 2018 + Net revenuesQ1 2018 + Net revenuesQ4 2017) ÷ No. shares of common stock outstanding
= (8,236,000,000 + 8,278,000,000 + 7,934,000,000 + 7,739,000,000) ÷ 1,504,216,327 = 21.40

4 P/S ratio = Share price ÷ Sales per share
= 86.96 ÷ 21.40 = 4.06

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. AbbVie Inc.'s P/S ratio declined from Q1 2018 to Q2 2018 and from Q2 2018 to Q3 2018.

Price to Book Value (P/BV)

AbbVie Inc., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
No. shares of common stock outstanding1 1,504,216,327 1,514,272,698 1,586,879,451 1,587,972,655 1,596,429,740 1,594,094,698 1,591,540,513 1,593,920,285 1,625,099,012 1,628,542,359 1,617,358,607 1,611,238,226 1,634,746,917 1,655,276,338 1,593,076,097 1,593,886,909 1,593,265,381 1,591,699,124 1,590,066,459 1,588,518,764 1,590,861,812 1,585,428,724 1,583,729,114
Selected Financial Data (USD $)
Stockholders' equity (deficit) (in millions) (2,921) (3,376) 3,553  5,097  6,687  6,009  4,998  4,636  6,469  5,640  4,643  3,945  4,863  5,504  1,377  1,742  4,645  5,218  4,697  4,492  3,577  3,558  2,957 
Book value per share (BVPS)3 -1.94 -2.23 2.24 3.21 4.19 3.77 3.14 2.91 3.98 3.46 2.87 2.45 2.97 3.33 0.86 1.09 2.92 3.28 2.95 2.83 2.25 2.24 1.87
Share price1, 2 86.96 94.06 100.17 118.60 93.96 71.22 66.99 61.77 58.91 66.54 62.51 54.29 64.13 68.62 65.24 61.30 61.50 52.43 52.26 51.04 47.48 44.71 43.49
P/BV ratio4 44.74 36.95 22.43 18.89 21.33 21.24 14.80 19.21 21.77 22.17 21.56 20.64 75.48 56.09 21.09 15.99 17.69 18.05 21.12 19.92 23.29

Based on: 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-16), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-17), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-11-06), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-20), 10-Q (filing date: 2014-11-07), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-09), 10-K (filing date: 2014-02-21), 10-Q (filing date: 2013-11-12), 10-Q (filing date: 2013-08-09), 10-Q (filing date: 2013-05-08).

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of AbbVie Inc.'s Quarterly or Annual Report.

Q3 2018 Calculations

3 BVPS = Stockholders' equity (deficit) ÷ No. shares of common stock outstanding
= -2,921,000,000 ÷ 1,504,216,327 = -1.94

4 P/BV ratio = Share price ÷ BVPS
= 86.96 ÷ -1.94 =

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.