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: 2025-03-31), 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).
The analysis of the financial ratios over the specified periods reveals distinct trends in valuation metrics. The data covers price-related ratios including price to earnings (P/E), price to operating profit (P/OP), price to sales (P/S), and price to book value (P/BV), noting some gaps in earlier periods.
- Price to Earnings (P/E) Ratio
- Starting from a high of 48.49 in March 2021, the P/E ratio exhibits a noticeable decline over the following quarters, reaching a low around 16.85 by March 2025. This downward trend suggests a decreasing market valuation relative to earnings or an improvement in earnings. There are intermittent upticks, particularly between late 2022 and 2023, indicating some volatility, but the overall trajectory points to a contraction of the P/E ratio.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio begins at 40.69 in March 2021 and follows a generally declining pattern, settling around the lower 30s by early 2025. Despite slight increases during mid-2023 and early 2024, the ratio primarily trends downward, indicating that the market price is decreasing relative to operating profit or that operating profits are increasing. This aligns with the behavior seen in the P/E ratio, though the P/OP ratio remains somewhat higher numerically.
- Price to Sales (P/S) Ratio
- This ratio shows a descending pattern from 6.3 in March 2021 to a trough near 3.85 in December 2021. Subsequently, it experiences a moderate recovery and fluctuates between roughly 4.1 and 5.6 throughout the following quarters. By early 2025, the ratio is around 5.37, indicating a rebound after the initial decline. The volatility in the P/S ratio suggests varying market perceptions related to sales performance or changes in sales figures relative to market price.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio shows a generally downward trend from 5.4 in March 2020, peaking near 6.65 in December 2020. After this peak, the ratio declines steadily over the subsequent years, reaching approximately 4.66 by March 2025. This steady decrease reflects a relative diminution in market valuation compared to book value, potentially influenced by asset revaluations, earnings retention, or market expectations about growth.
In summary, valuation ratios relative to earnings, operating profit, sales, and book value predominantly exhibit declining trends over the examined timeframe. This pattern may indicate either improving financial performance metrics or adjustments in market valuation expectations. The noticeable dips and recoveries within some ratios suggest periodic market reassessments of value. Overall, the financial data points toward a generally more conservative market valuation relative to the company’s fundamental financial indicators in recent years.
Price to Earnings (P/E)
Abbott Laboratories, historical P/E calculation (quarterly data)
| 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 | 1,739,836,465 | 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) | 1,325) | 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 | 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 | 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 | 16.85 | 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 | ||||||||||||||||||||||||||||
| CVS Health Corp. | 16.64 | 17.28 | 15.46 | 9.88 | 9.66 | 11.47 | 10.28 | 33.58 | 22.61 | 27.53 | 40.34 | 16.30 | 16.49 | 17.39 | 16.78 | 14.94 | 14.44 | 12.88 | — | — | — | |||||||
| Elevance Health Inc. | 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. | 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 | 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. | 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: 2025-03-31), 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 Q1 2025 Calculation
EPS
= (Net earningsQ1 2025
+ Net earningsQ4 2024
+ Net earningsQ3 2024
+ Net earningsQ2 2024)
÷ No. shares of common stock outstanding
= (1,325,000,000 + 9,229,000,000 + 1,646,000,000 + 1,302,000,000)
÷ 1,739,836,465 = 7.76
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q1 2025 Calculation
P/E ratio = Share price ÷ EPS
= 130.75 ÷ 7.76 = 16.85
5 Click competitor name to see calculations.
The data reveals distinctive trends in share price, earnings per share (EPS), and price-to-earnings (P/E) ratio over multiple quarters. These trends highlight shifts in market valuation, profitability, and investor sentiment.
- Share Price
- The share price demonstrates an overall upward tendency from the earliest recorded quarter to the latest. It begins at $92.28 and peaks near $130.75 in the final period, with fluctuations along the way. Between March 2020 and December 2020, the price rose steadily from $92.28 to $123.04. Subsequently, the share price oscillated, experiencing declines during certain quarters such as in late 2021 and throughout 2022, where it reached a low around $95.01 in September 2023. However, from December 2023 onward, a recovery trend is noticeable, culminating in a substantial increase to $130.75 by March 2025.
- Earnings Per Share (EPS)
- EPS data is available starting from March 2021. Initial values show a rising EPS from $2.54 to $4.1 within the first year, indicating improving profitability. From early 2022 through late 2023, a decline in EPS is observed, dropping from $4.01 to around $2.97. In the subsequent quarters, the EPS fluctuates moderately but shows signs of recovery, reaching $3.32 by December 2024 and increasing markedly to $7.76 in March 2025. This sharp increase in the last recorded quarter suggests a significant improvement in net earnings relative to outstanding shares.
- P/E Ratio
- The price-to-earnings ratio is closely tied to changes in both share price and EPS. Initially, the P/E ratio decreases from a high of 48.49 to around 21.95 through late 2021, reflecting a scenario where earnings are growing faster than share price increases, improving investor valuation metrics. From 2022 onward, the P/E ratio rises again, peaking near 36.16, before declining sharply to 16.85 by March 2025. The final reduction in P/E ratio coincides with the EPS surge and a relatively stable share price, signifying that the stock became more attractively valued with respect to earnings.
In summary, the share price, EPS, and P/E ratio collectively indicate a period of growth, correction, and recovery. Early growth is characterized by increasing share price and EPS, followed by a period of EPS decline and share price volatility, and ending with a notable improvement in earnings accompanied by a more favorable valuation ratio. This sequence suggests that the company experienced variability in earnings performance and market valuation, with a robust earnings rebound at the end of the period analyzed.
Price to Operating Profit (P/OP)
Abbott Laboratories, historical P/OP calculation (quarterly data)
| 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 | 1,739,836,465 | 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) | 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 | 4.10 | 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 | 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 | 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 | ||||||||||||||||||||||||||||
| CVS Health Corp. | 9.13 | 9.36 | 8.14 | 5.74 | 5.62 | 6.96 | 6.32 | 15.41 | 11.67 | 14.75 | 20.01 | 9.97 | 10.06 | 10.43 | 9.43 | 7.87 | 7.61 | 6.65 | — | — | — | |||||||
| Elevance Health Inc. | 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. | 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 | 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. | 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: 2025-03-31), 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 Q1 2025 Calculation
Operating profit per share
= (Operating earningsQ1 2025
+ Operating earningsQ4 2024
+ Operating earningsQ3 2024
+ Operating earningsQ2 2024)
÷ No. shares of common stock outstanding
= (1,693,000,000 + 1,911,000,000 + 1,859,000,000 + 1,669,000,000)
÷ 1,739,836,465 = 4.10
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q1 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 130.75 ÷ 4.10 = 31.90
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited a generally upward trajectory from March 2020 to December 2021, rising from $92.28 to a peak of $128.70 in September 2021. Following this peak, there was a decline throughout 2022, reaching a low near $95.01 in September 2023. Subsequently, the stock price showed recovery and volatility, increasing to $134.92 by December 2024, then slightly settling at $130.75 by March 2025.
- Operating Profit Per Share (OPPS) Trends
- Operating profit per share data begins in March 2021, starting at $3.02 and increasing consistently through December 2022, peaking at $5.83. After this peak, a downward trend is apparent, with OPPS decreasing to $3.46 by December 2023. From that point onward, it recovered slowly, reaching $4.10 by March 2025, although it remained below the previous peak.
- Price to Operating Profit (P/OP) Ratio Trends
- The price to operating profit ratio, starting from March 2021, shows a clear declining trend from 40.69 to 18.35 by December 2022, reflecting rising earnings relative to share price during this period. After December 2022, the ratio increased again, reaching a high of 34.28 in December 2024, then slightly declining to 31.90 by March 2025. This implies the stock became more expensive relative to its operating profits during that phase.
- Interrelationships Between Metrics
- There is an inverse relationship observed between OPPS and the P/OP ratio, where increases in operating profit per share correlate with a decline in the P/OP ratio until late 2022. As operating profit per share declined thereafter and then gradually recovered, the P/OP ratio rose, suggesting changes in market valuation perceptions or profit expectations. The share price movements reflect these dynamics, with highs and lows that somewhat lag or anticipate shifts in operating profit and valuation ratios.
- Summary of Financial Performance
- The financial data indicates a strong growth phase in profitability and share price through 2021 and early 2022, followed by a period of correction in both operating profit and share price. The subsequent recovery in share price while operating profits improved only moderately suggests market optimism or other external factors influencing valuation beyond operating earnings alone. Overall, the data reflects cyclical fluctuations with notable volatility in recent quarters, highlighting the importance of monitoring profit trends alongside market valuation.
Price to Sales (P/S)
Abbott Laboratories, historical P/S calculation (quarterly data)
| 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 | 1,739,836,465 | 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) | 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 | 24.34 | 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 | 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 | 5.37 | 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 | ||||||||||||||||||||||||||||
| CVS Health Corp. | 0.23 | 0.22 | 0.21 | 0.20 | 0.20 | 0.27 | 0.26 | 0.29 | 0.27 | 0.36 | 0.40 | 0.43 | 0.44 | 0.47 | 0.45 | 0.39 | 0.40 | 0.35 | — | — | — | |||||||
| Elevance Health Inc. | 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. | 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 | 3.50 | 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. | 0.88 | 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: 2025-03-31), 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 Q1 2025 Calculation
Sales per share
= (Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024
+ Net salesQ2 2024)
÷ No. shares of common stock outstanding
= (10,358,000,000 + 10,974,000,000 + 10,635,000,000 + 10,377,000,000)
÷ 1,739,836,465 = 24.34
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q1 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 130.75 ÷ 24.34 = 5.37
5 Click competitor name to see calculations.
The share price exhibited a general upward trajectory from March 2020 through December 2020, increasing from $92.28 to $123.04. Following this peak, the share price experienced fluctuations with a notable decline during 2022, reaching a low point of $99.31 in September 2022. Subsequently, there was some recovery, with the price rising again to $114.01 in December 2023. The most recent periods show an overall strengthening trend, culminating in a peak of $134.92 in December 2024 and slightly decreasing to $130.75 in March 2025.
Sales per share, available starting in March 2021, demonstrated a steady increase from $19.54 to a high of $26.01 by September 2022. After this peak, sales per share recorded a gradual decline throughout 2023, decreasing to $23.02 by December of that year. From early 2024 onward, the sales per share metric stabilized and exhibited a moderate upward movement, reaching $24.34 by March 2025.
The price-to-sales (P/S) ratio showed a declining trend from 6.3 in March 2021 to a low of approximately 3.85 by December 2021, reflecting the faster growth in sales per share compared to share price increases during this period. Following the trough, the ratio generally increased, showing volatility but trending upward to 5.58 by December 2024. The ratio slightly decreased again to 5.37 at the end of the observed period. This pattern suggests that after a period of relatively undervalued stock prices in relation to sales, valuation multiples expanded as share prices recovered and sales growth moderated.
In summary, the data reveal initial strong market performance with rising share prices up to late 2020, followed by volatility and weakening share prices amid continued sales growth through 2022. From 2023 onward, sales per share stabilized and modestly increased, while share prices showed recovery and gains by late 2024. The P/S ratio’s shifts indicate changing market valuation perspectives over time, moving from contraction to expansion phases aligned with evolving sales dynamics and stock price movements.
Price to Book Value (P/BV)
Abbott Laboratories, historical P/BV calculation (quarterly data)
| 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 | 1,739,836,465 | 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) | 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 | 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 | 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 | 4.66 | 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 | ||||||||||||||||||||||||||||
| CVS Health Corp. | 1.14 | 1.05 | 1.03 | 0.95 | 0.96 | 1.25 | 1.19 | 1.35 | 1.26 | 1.61 | 1.80 | 1.77 | 1.79 | 1.83 | 1.71 | 1.47 | 1.51 | 1.33 | 1.24 | 1.24 | 1.21 | |||||||
| Elevance Health Inc. | 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. | 10.22 | 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 | 2.38 | 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. | 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: 2025-03-31), 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 Q1 2025 Calculation
BVPS = Total Abbott shareholders’ investment ÷ No. shares of common stock outstanding
= 48,811,000,000 ÷ 1,739,836,465 = 28.05
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q1 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 130.75 ÷ 28.05 = 4.66
5 Click competitor name to see calculations.
- Share Price Trends
- The share price showed a general upward trend from March 2020 to December 2020, increasing from $92.28 to $123.04. Following this peak, the price experienced fluctuations, dropping to $116.79 by December 2021 and further declining to $99.31 by September 2022. A moderate recovery occurred towards the end of 2022 and early 2023, with the price reaching $110.86 in March 2023. However, it declined again to $95.01 by September 2023 before rebounding substantially to a peak of $134.92 in December 2024. The price slightly decreased to $130.75 by March 2025, suggesting increased volatility in the recent periods but ending with overall appreciation compared to the start period.
- Book Value Per Share (BVPS) Trends
- BVPS exhibited a consistent upward trajectory throughout the entire period, starting at $17.08 in March 2020 and steadily increasing to $28.05 by March 2025. This persistent growth indicates continual accumulation of equity value per share over time. Notably, the increase was gradual and without any significant declines, suggesting stable internal capital growth and reinvestment.
- Price-to-Book Value (P/BV) Ratio Analysis
- The P/BV ratio peaked at 6.65 in December 2020, coinciding with the highest share price within that period. After this peak, the ratio exhibited a downward trend, dropping to as low as 4.40 in September 2023. Although slight recoveries occurred post-2023, the ratio remained below earlier peaks, ending at 4.66 in March 2025. This decline in P/BV ratio despite rising BVPS and fluctuating share prices suggests that the market valuation relative to the book value per share has decreased over time, reflecting either a market reassessment of intrinsic value or changes in investor sentiment towards the equity.
- Summary of Financial Indicator Interactions
- The increase in BVPS reflects strengthening book equity, yet share price volatility indicates varying market perceptions of value. The P/BV ratio's overall decline suggests that the share price growth has not kept pace proportionally with the rise in book value, pointing to a potentially more conservative market valuation or increased risk considerations. The sharp share price increase toward the end of the analyzed period could signify renewed investor confidence, although it did not proportionally elevate the P/BV ratio to previous levels.