Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
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)
Abbott Laboratories, historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Price to earnings (P/E) ratio
- Initially, data for this ratio was not recorded until March 31, 2021, starting at 48.49. It then showed a declining trend through mid-2022, reaching a low of 21.95 by December 31, 2022. Following this dip, the ratio rose significantly in 2023 to a peak of 36.16 by September, before gradually decreasing again. By the most recent quarter ending June 30, 2025, the P/E ratio had declined sharply to 16.85. This pattern indicates periods of valuation contraction and expansion, suggesting varying investor expectations of earnings over time.
- Price to operating profit (P/OP) ratio
- The P/OP ratio follows a trajectory similar to the P/E ratio, starting from 40.69 in March 2021, then decreasing steadily to 18.35 by December 2022. Thereafter, it experienced a cyclical increase, peaking at 30.47 in September 2023, followed by a downward trend toward 31.9 by June 2025. The fluctuations point to changing market valuations relative to operating profitability, likely reflecting shifts in operational performance perceptions and profitability outlooks.
- Price to sales (P/S) ratio
- The P/S ratio began at 6.3 in March 2021 and showed a general downward trend till around December 2022, reaching 3.85. In 2023, it experienced moderate recoveries, rising to 4.64 by June and stabilizing around 4.5 through most of 2024. By mid-2025, the ratio increased again to approximately 5.37. This indicates a dynamically changing market valuation relative to sales figures, with a noticeable trough followed by recovery phases.
- Price to book value (P/BV) ratio
- The P/BV ratio was reported more consistently, starting at 5.4 in March 2020 and increasing gradually to 6.65 by December 2020. Subsequently, it experienced a general decline with some volatility, dropping to a low of 4.4 in September 2023. In the following period, it fluctuated between approximately 4.4 and 5.21, ending at 4.42 in June 2025. This declining trend may suggest a contraction in market perception of equity value over net assets or growth slowdown in book value compared with market pricing.
Price to Earnings (P/E)
Abbott Laboratories, historical P/E calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,740,459,014 | 1,739,836,465 | 1,734,323,411 | 1,734,455,213 | 1,739,897,004 | 1,739,633,759 | 1,735,184,289 | 1,736,058,536 | 1,735,357,980 | 1,738,946,799 | 1,737,946,233 | 1,743,573,777 | 1,751,219,743 | 1,750,942,289 | 1,763,482,267 | 1,768,286,969 | 1,772,817,349 | 1,776,820,148 | 1,771,529,358 | 1,772,361,581 | 1,770,529,999 | 1,768,845,326 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net earnings (in millions) | 1,779) | 1,325) | 9,229) | 1,646) | 1,302) | 1,225) | 1,594) | 1,436) | 1,375) | 1,318) | 1,033) | 1,435) | 2,018) | 2,447) | 1,989) | 2,100) | 1,189) | 1,793) | 2,162) | 1,232) | 537) | 564) | |||||||
| Earnings per share (EPS)2 | 8.03 | 7.76 | 7.73 | 3.32 | 3.19 | 3.24 | 3.30 | 2.97 | 2.97 | 3.34 | 3.99 | 4.52 | 4.88 | 4.41 | 4.01 | 4.10 | 3.60 | 3.22 | 2.54 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 128.55 | 130.75 | 134.92 | 113.37 | 105.94 | 105.92 | 114.01 | 95.01 | 107.54 | 110.86 | 106.74 | 99.31 | 108.64 | 112.43 | 116.79 | 128.70 | 121.57 | 118.51 | 123.04 | 111.53 | 102.52 | 92.28 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/E ratio4 | 16.01 | 16.85 | 17.46 | 34.10 | 33.17 | 32.73 | 34.57 | 31.95 | 36.16 | 33.21 | 26.76 | 21.95 | 22.24 | 25.48 | 29.13 | 31.42 | 33.80 | 36.79 | 48.49 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Elevance Health Inc. | 12.71 | 15.88 | 14.85 | 16.06 | 18.05 | 19.55 | 19.80 | 18.14 | 17.03 | 17.46 | 19.20 | 18.75 | 18.07 | 20.46 | 18.13 | 18.65 | 22.10 | 19.99 | 15.87 | — | — | — | |||||||
| Intuitive Surgical Inc. | 69.00 | 70.63 | 87.82 | 82.75 | 77.23 | 65.38 | 74.11 | 61.96 | 79.78 | 79.43 | 64.99 | 56.03 | 52.74 | 55.10 | 59.94 | 71.86 | 69.15 | 89.95 | 87.47 | — | — | — | |||||||
| Medtronic PLC | 25.62 | 29.00 | 27.97 | 26.49 | 25.70 | 29.96 | 30.94 | 26.88 | 24.40 | 22.61 | 23.38 | 29.39 | 30.66 | 46.71 | 46.56 | 55.13 | 42.80 | 32.34 | 26.30 | — | — | — | |||||||
| UnitedHealth Group Inc. | 10.73 | 16.05 | 29.75 | 35.85 | 36.59 | 30.38 | 20.53 | 22.75 | 22.15 | 22.01 | 22.46 | 26.13 | 27.70 | 27.29 | 26.03 | 27.92 | 27.41 | 23.06 | 20.54 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net earningsQ2 2025
+ Net earningsQ1 2025
+ Net earningsQ4 2024
+ Net earningsQ3 2024)
÷ No. shares of common stock outstanding
= (1,779,000,000 + 1,325,000,000 + 9,229,000,000 + 1,646,000,000)
÷ 1,740,459,014 = 8.03
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 128.55 ÷ 8.03 = 16.01
5 Click competitor name to see calculations.
- Share Price Trend
- The share price demonstrated an overall upward trajectory from March 31, 2020, starting at $92.28 and reaching a peak of $134.92 by March 31, 2025. There were periods of volatility, notably a decline observed between December 31, 2021, and September 30, 2023, where the price dipped from $116.79 to a low of $95.01. Following this dip, the share price recovered, marking an upward trend into early 2025. This pattern indicates phases of both market optimism and caution within the analyzed period.
- Earnings Per Share (EPS) Evolution
- EPS data, available starting from March 31, 2021, showed a steady increase from $2.54 to a quarterly peak of 4.88 by September 30, 2022. Subsequently, a declining trend was noted, reaching a trough of approximately $2.97 during the last quarters of 2023. A recovery phase ensued thereafter, with EPS values climbing back to $3.32 by March 31, 2024. A significant jump occurred in the quarters ending March 31 and June 30, 2025, where EPS nearly doubled to over $7.7, suggesting improved profitability or one-time gains impacting earnings positively.
- Price-to-Earnings (P/E) Ratio Behavior
- The P/E ratio was initially high at 48.49 on March 31, 2021, and gradually declined to a bottom of around 21.95 by September 30, 2022. This downward trend may reflect a market adjustment to align earnings growth with pricing. Over the following year, the ratio exhibited fluctuations, rising to a peak of 36.16 and then settling around the low thirties up to the end of 2024. Notably, the P/E ratio experienced a sharp reduction in early 2025, dropping to approximately 16, corresponding with the surge in EPS, indicative of the stock becoming relatively more attractively priced based on earnings. This implies a possible reassessment of valuation given the better-than-expected profits.
- Correlation and Market Interpretation
- The data suggests that despite the EPS improvement and fluctuating share prices, valuation multiples compressed over time, signaling that growth in earnings was not fully mirrored by stock price gains until the final quarter observed. The sharp EPS increase towards the end of the series aligns with a significant decrease in P/E ratio, which may imply the market has recognized and adjusted for improved company fundamentals or exceptional performance elements. Periods of price decline despite increasing EPS suggest external factors or market sentiment possibly influenced investor behavior during certain intervals.
Price to Operating Profit (P/OP)
Abbott Laboratories, historical P/OP calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,740,459,014 | 1,739,836,465 | 1,734,323,411 | 1,734,455,213 | 1,739,897,004 | 1,739,633,759 | 1,735,184,289 | 1,736,058,536 | 1,735,357,980 | 1,738,946,799 | 1,737,946,233 | 1,743,573,777 | 1,751,219,743 | 1,750,942,289 | 1,763,482,267 | 1,768,286,969 | 1,772,817,349 | 1,776,820,148 | 1,771,529,358 | 1,772,361,581 | 1,770,529,999 | 1,768,845,326 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Operating earnings (in millions) | 2,052) | 1,693) | 1,911) | 1,859) | 1,669) | 1,386) | 1,780) | 1,647) | 1,542) | 1,509) | 1,304) | 1,770) | 2,376) | 2,912) | 2,378) | 2,546) | 1,392) | 2,109) | 2,432) | 1,495) | 672) | 758) | |||||||
| Operating profit per share2 | 4.32 | 4.10 | 3.94 | 3.86 | 3.73 | 3.65 | 3.73 | 3.46 | 3.53 | 4.00 | 4.81 | 5.41 | 5.83 | 5.27 | 4.78 | 4.80 | 4.19 | 3.78 | 3.02 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 128.55 | 130.75 | 134.92 | 113.37 | 105.94 | 105.92 | 114.01 | 95.01 | 107.54 | 110.86 | 106.74 | 99.31 | 108.64 | 112.43 | 116.79 | 128.70 | 121.57 | 118.51 | 123.04 | 111.53 | 102.52 | 92.28 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/OP ratio4 | 29.77 | 31.90 | 34.28 | 29.37 | 28.44 | 28.99 | 30.54 | 27.48 | 30.47 | 27.70 | 22.18 | 18.35 | 18.63 | 21.33 | 24.45 | 26.84 | 29.01 | 31.39 | 40.69 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Elevance Health Inc. | 9.63 | 12.70 | 12.19 | 13.12 | 14.89 | 15.42 | 15.57 | 14.38 | 13.36 | 13.61 | 15.05 | 15.30 | 14.72 | 17.53 | 15.70 | 15.81 | 19.93 | 15.79 | 12.10 | — | — | — | |||||||
| Intuitive Surgical Inc. | 68.32 | 71.16 | 86.83 | 89.92 | 82.80 | 70.29 | 75.42 | 55.63 | 70.08 | 66.95 | 54.49 | 46.65 | 44.54 | 49.98 | 56.11 | 67.95 | 69.51 | 89.18 | 88.37 | — | — | — | |||||||
| Medtronic PLC | 20.31 | 22.10 | 19.98 | 19.69 | 18.94 | 19.27 | 21.20 | 19.53 | 17.99 | 19.55 | 20.48 | 25.40 | 27.20 | 38.83 | 37.44 | 49.88 | 42.55 | 35.86 | 26.29 | — | — | — | |||||||
| UnitedHealth Group Inc. | 7.43 | 10.60 | 13.27 | 15.94 | 16.11 | 14.49 | 14.20 | 15.63 | 15.33 | 15.41 | 15.89 | 18.75 | 19.96 | 19.69 | 18.77 | 19.63 | 19.05 | 16.12 | 14.12 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating earningsQ2 2025
+ Operating earningsQ1 2025
+ Operating earningsQ4 2024
+ Operating earningsQ3 2024)
÷ No. shares of common stock outstanding
= (2,052,000,000 + 1,693,000,000 + 1,911,000,000 + 1,859,000,000)
÷ 1,740,459,014 = 4.32
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 128.55 ÷ 4.32 = 29.77
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several key trends and developments over the observed periods.
- Share Price
- The share price showed an overall upward trajectory from March 2020 through December 2021, rising from $92.28 to a peak around $128.70 in September 2021. This rise was followed by a decline through the end of 2022, with prices falling to approximately $95.01 in September 2023. After this trough, there was a recovery phase evident in the subsequent quarters, with prices increasing again to reach a peak of $134.92 by March 2025. The price volatility suggests responsiveness to market conditions and business performance enhancements in late periods.
- Operating Profit Per Share (Operating profit per share)
- Operating profit per share emerged from Q1 2021 with a starting value of $3.02 and increased steadily to a high point of $5.83 in September 2022. Following this peak, operating profit per share gradually decreased, reaching a low around $3.46 in December 2023. From early 2024 onwards, the metric resumed an upward trend, recovering to $4.32 by June 2025. This pattern indicates a period of operational improvement through 2021 and early 2022, followed by a contraction and subsequent recovery phase, reflecting changes in the company’s profit-generating efficiency.
- Price to Operating Profit Ratio (P/OP)
- The Price to Operating Profit ratio started at a high level of 40.69 in March 2021, steadily declining to a trough of 18.35 by September 2022. This decline corresponds with rising operating profit per share alongside falling or stabilizing share prices, indicating improved valuation relative to operating earnings. However, post-September 2022, the ratio began increasing again, reaching up to 34.28 by March 2025. This rise may reflect increasing share prices outpacing operating profit growth or market revaluation factors influencing investor sentiment and price multiples.
Overall, the data reveals a period of strengthening financial performance and market valuation through 2021 and early 2022, followed by a phase of challenges or market corrections reflected in lower share prices and reduced operating profit per share. The subsequent recovery in both share price and operating profit from late 2023 onwards suggests renewed confidence and operational improvements. The inverse relationship over time between the share price trends and the P/OP ratio demonstrates changing market perceptions regarding the company’s profitability prospects.
Price to Sales (P/S)
Abbott Laboratories, historical P/S calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,740,459,014 | 1,739,836,465 | 1,734,323,411 | 1,734,455,213 | 1,739,897,004 | 1,739,633,759 | 1,735,184,289 | 1,736,058,536 | 1,735,357,980 | 1,738,946,799 | 1,737,946,233 | 1,743,573,777 | 1,751,219,743 | 1,750,942,289 | 1,763,482,267 | 1,768,286,969 | 1,772,817,349 | 1,776,820,148 | 1,771,529,358 | 1,772,361,581 | 1,770,529,999 | 1,768,845,326 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net sales (in millions) | 11,142) | 10,358) | 10,974) | 10,635) | 10,377) | 9,964) | 10,241) | 10,143) | 9,978) | 9,747) | 10,091) | 10,410) | 11,257) | 11,895) | 11,468) | 10,928) | 10,223) | 10,456) | 10,701) | 8,853) | 7,328) | 7,726) | |||||||
| Sales per share2 | 24.77 | 24.34 | 24.19 | 23.76 | 23.41 | 23.18 | 23.12 | 23.02 | 23.18 | 23.87 | 25.12 | 25.83 | 26.01 | 25.42 | 24.43 | 23.93 | 22.69 | 21.01 | 19.54 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 128.55 | 130.75 | 134.92 | 113.37 | 105.94 | 105.92 | 114.01 | 95.01 | 107.54 | 110.86 | 106.74 | 99.31 | 108.64 | 112.43 | 116.79 | 128.70 | 121.57 | 118.51 | 123.04 | 111.53 | 102.52 | 92.28 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/S ratio4 | 5.19 | 5.37 | 5.58 | 4.77 | 4.53 | 4.57 | 4.93 | 4.13 | 4.64 | 4.64 | 4.25 | 3.85 | 4.18 | 4.42 | 4.78 | 5.38 | 5.36 | 5.64 | 6.30 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Elevance Health Inc. | 0.36 | 0.52 | 0.51 | 0.60 | 0.71 | 0.72 | 0.70 | 0.66 | 0.66 | 0.68 | 0.74 | 0.77 | 0.75 | 0.89 | 0.81 | 0.78 | 0.73 | 0.76 | 0.60 | — | — | — | |||||||
| Intuitive Surgical Inc. | 19.68 | 20.07 | 24.42 | 23.60 | 21.35 | 17.76 | 18.71 | 13.72 | 17.06 | 16.21 | 13.81 | 12.62 | 12.69 | 15.34 | 17.89 | 22.12 | 21.73 | 23.19 | 21.29 | — | — | — | |||||||
| Medtronic PLC | 3.33 | 3.50 | 3.18 | 3.44 | 3.30 | 3.44 | 3.72 | 3.55 | 3.42 | 3.79 | 3.72 | 4.54 | 4.54 | 5.74 | 5.57 | 5.71 | 5.43 | 5.11 | 4.36 | — | — | — | |||||||
| UnitedHealth Group Inc. | 0.55 | 0.88 | 1.08 | 1.32 | 1.35 | 1.24 | 1.25 | 1.39 | 1.35 | 1.37 | 1.40 | 1.62 | 1.66 | 1.61 | 1.58 | 1.55 | 1.47 | 1.49 | 1.24 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
÷ No. shares of common stock outstanding
= (11,142,000,000 + 10,358,000,000 + 10,974,000,000 + 10,635,000,000)
÷ 1,740,459,014 = 24.77
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 128.55 ÷ 24.77 = 5.19
5 Click competitor name to see calculations.
- Share Price Trend
- The share price demonstrated a general upward trend from March 2020 to December 2020, increasing from 92.28 US$ to 123.04 US$. Following this peak, the price experienced fluctuations with a downward bias until September 2023, dipping to a low near 95.01 US$. Subsequently, the share price showed recovery and volatility from late 2023 through mid-2025, reaching a high of approximately 134.92 US$ by March 2025 before slightly declining towards mid-2025.
- Sales Per Share Pattern
- Sales per share were initially unreported until March 2021, after which a continuous growth phase was observed from 19.54 US$ to a peak of 26.01 US$ in September 2022. Post this peak, sales per share declined progressively, stabilizing around the 23.0 to 24.7 US$ range through mid-2025. The overall trend indicates a peak followed by a moderate downtrend and then relative stabilization in sales per share.
- Price-to-Sales Ratio (P/S) Analysis
- The P/S ratio showed a decline from 6.3 in March 2021 to a low of 3.85 in December 2022, indicating the share price growing at a slower rate than sales or sales increasing faster than price during this period. From late 2022 onward, the ratio climbed again, reaching above 5.5 by March 2025. This rebound suggests an increase in share price relative to sales or a change in market valuation dynamics towards the end of the observed period.
- Interrelation of Metrics
- The share price and sales per share show somewhat divergent trends in recent periods, with sales per share declining while share price recovers and rises. This divergence is reflected in the rising P/S ratio post-2022, pointing to possible market factors or investor sentiment driving the share price beyond what recent sales figures alone might justify. The fluctuations in P/S ratio imply changing market perceptions of the company's valuation relative to its sales performance.
- Overall Summary
- The financial metrics indicate a cycle of growth in sales until late 2022 followed by a contraction and stabilization phase. Share price exhibited substantial volatility with peaks in late 2020 and early 2025, and a trough around late 2023. The P/S ratio's movements suggest varied investor sentiment and changing valuation multiples over time, with current valuation levels higher relative to sales than during the mid-2021 to late-2022 period.
Price to Book Value (P/BV)
Abbott Laboratories, historical P/BV calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 1,740,459,014 | 1,739,836,465 | 1,734,323,411 | 1,734,455,213 | 1,739,897,004 | 1,739,633,759 | 1,735,184,289 | 1,736,058,536 | 1,735,357,980 | 1,738,946,799 | 1,737,946,233 | 1,743,573,777 | 1,751,219,743 | 1,750,942,289 | 1,763,482,267 | 1,768,286,969 | 1,772,817,349 | 1,776,820,148 | 1,771,529,358 | 1,772,361,581 | 1,770,529,999 | 1,768,845,326 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Total Abbott shareholders’ investment (in millions) | 50,565) | 48,811) | 47,664) | 39,796) | 39,318) | 38,810) | 38,603) | 37,481) | 37,174) | 37,010) | 36,686) | 35,675) | 36,490) | 35,399) | 35,802) | 34,422) | 33,800) | 33,562) | 32,784) | 31,386) | 30,578) | 30,218) | |||||||
| Book value per share (BVPS)2 | 29.05 | 28.05 | 27.48 | 22.94 | 22.60 | 22.31 | 22.25 | 21.59 | 21.42 | 21.28 | 21.11 | 20.46 | 20.84 | 20.22 | 20.30 | 19.47 | 19.07 | 18.89 | 18.51 | 17.71 | 17.27 | 17.08 | |||||||
| Share price1, 3 | 128.55 | 130.75 | 134.92 | 113.37 | 105.94 | 105.92 | 114.01 | 95.01 | 107.54 | 110.86 | 106.74 | 99.31 | 108.64 | 112.43 | 116.79 | 128.70 | 121.57 | 118.51 | 123.04 | 111.53 | 102.52 | 92.28 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/BV ratio4 | 4.42 | 4.66 | 4.91 | 4.94 | 4.69 | 4.75 | 5.12 | 4.40 | 5.02 | 5.21 | 5.06 | 4.85 | 5.21 | 5.56 | 5.75 | 6.61 | 6.38 | 6.27 | 6.65 | 6.30 | 5.94 | 5.40 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Elevance Health Inc. | 1.56 | 2.21 | 2.15 | 2.35 | 2.86 | 3.01 | 3.02 | 2.87 | 2.86 | 2.90 | 3.19 | 3.24 | 3.08 | 3.55 | 3.07 | 2.88 | 2.67 | 2.78 | 2.19 | 2.10 | 2.06 | 2.23 | |||||||
| Intuitive Surgical Inc. | 10.08 | 10.22 | 12.41 | 11.91 | 10.99 | 9.31 | 10.01 | 7.49 | 9.57 | 9.29 | 7.78 | 6.71 | 6.29 | 7.48 | 8.59 | 10.64 | 10.35 | 10.40 | 9.53 | 9.35 | 9.19 | 7.22 | |||||||
| Medtronic PLC | 2.27 | 2.38 | 2.05 | 2.15 | 2.05 | 2.12 | 2.26 | 2.12 | 2.03 | 2.23 | 2.24 | 2.75 | 2.77 | 3.52 | 3.26 | 3.14 | 3.02 | 2.84 | 2.48 | 2.60 | 2.94 | 2.87 | |||||||
| UnitedHealth Group Inc. | 2.41 | 3.73 | 4.63 | 5.43 | 5.77 | 5.38 | 5.18 | 5.84 | 5.68 | 5.60 | 5.81 | 6.80 | 6.94 | 6.54 | 6.27 | 6.13 | 5.76 | 5.86 | 4.83 | 4.54 | 4.53 | 4.81 | |||||||
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Total Abbott shareholders’ investment ÷ No. shares of common stock outstanding
= 50,565,000,000 ÷ 1,740,459,014 = 29.05
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 128.55 ÷ 29.05 = 4.42
5 Click competitor name to see calculations.
- Share Price Trend
- The share price demonstrated an overall upward trend from March 2020 to December 2021, increasing from $92.28 to a peak of $128.70 in September 2021 before declining to $116.79 at the end of 2021. Following this, the share price experienced a downward movement in 2022, falling to a low of $95.01 in September 2023. However, from September 2023 onward, the share price exhibited recovery and growth, rising sharply to $134.92 by March 2025, indicating renewed investor confidence in the latter periods.
- Book Value per Share (BVPS) Development
- BVPS showed a consistent upward trajectory throughout the period under review, starting at $17.08 in March 2020 and increasing steadily each quarter. By March 2025, BVPS reached $29.05, reflecting ongoing improvements in the company's net asset value on a per-share basis. This consistent growth in book value points to enhanced financial stability and asset accumulation over time.
- Price-to-Book Value Ratio (P/BV) Movements
- The P/BV ratio initially rose from 5.40 in March 2020, peaking at 6.65 in December 2020, suggesting increased market valuation relative to the company's book value during that period. Subsequently, it declined steadily throughout 2021 and into 2023, reaching a low of 4.40 in September 2023. After this decline, the P/BV ratio showed some recovery but remained below earlier peak levels, ending at 4.42 in June 2025. This pattern indicates that while the market price has fluctuated, the valuation premium over book value has moderated compared to the early phases of the data period.
- Overall Interpretation
- The data reflects a company with a solid and steadily improving underlying book value, which supports long-term growth. The share price trend exhibits greater volatility, with a significant dip between 2022 and late 2023 followed by a robust recovery through early 2025. The P/BV ratio trends suggest periods of market optimism and correction, with the valuation multiple contracting after an initial high but stabilizing at a moderate level. Collectively, these trends imply that while the market price adjusts to various factors, the company maintains fundamental strength and value growth over time.