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).
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
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Historical Valuation Ratios (Summary)
Abbott Laboratories, historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
The valuation ratios exhibit significant volatility over the analyzed period, characterized by a distinct cycle of expansion, sharp contraction, and subsequent recovery.
- Price to Earnings (P/E) Ratio
- A period of valuation expansion is observed from September 2022 (21.95) through June 2023, where the ratio peaked at 36.16. This high valuation remained relatively stable through September 2024. However, a severe contraction occurred between September 2024 (34.10) and December 2024 (17.46), with the ratio reaching a cyclical low of 15.48 by September 2025. A rapid recovery followed, returning to 34.22 by June 2026.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio generally mirrored the P/E trend during the early stages, rising from 18.35 in September 2022 to 30.47 in June 2023. A notable divergence occurred in December 2024; while the P/E ratio collapsed, the P/OP ratio reached its peak of 34.28. This suggests that the sharp decline in P/E during late 2024 was likely driven by non-operating factors rather than a deterioration in core operating profitability. The ratio subsequently moderated to 25.27 by June 2026.
- Price to Sales (P/S) Ratio
- The P/S ratio remained largely range-bound between 3.85 and 4.93 for the majority of the period. A peak was recorded in December 2024 at 5.58, followed by a downward trend that reached a minimum of 3.52 in March 2026. This indicates a compression in the revenue multiple toward the end of the sequence, despite a slight recovery to 3.98 in June 2026.
- Price to Book Value (P/BV) Ratio
- A consistent long-term downward trajectory is evident in the P/BV ratio. Starting at a high of 5.56 in March 2022, the ratio experienced gradual declines and temporary fluctuations, eventually reaching a low of 3.06 in March 2026. This suggests a diminishing premium over the accounting book value over the four-year period, ending with a slight uptick to 3.63 in June 2026.
Overall, the data indicates a period of valuation instability between late 2024 and early 2026. The divergence between net income multiples (P/E) and operating profit multiples (P/OP) during the December 2024 window highlights a temporary disconnect between bottom-line earnings and operational performance, while the P/S and P/BV ratios suggest a general cooling of asset and revenue valuations by mid-2026.
Price to Earnings (P/E)
Abbott Laboratories, historical P/E calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net earnings (in millions) | ||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
EPS
= (Net earningsQ2 2026
+ Net earningsQ1 2026
+ Net earningsQ4 2025
+ Net earningsQ3 2025)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q2 2026 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The valuation metrics exhibit significant volatility over the analyzed period, characterized by a distinct inverse relationship between earnings per share (EPS) and the price-to-earnings (P/E) ratio. The period is marked by two primary valuation regimes: a high-multiple phase between 2022 and mid-2024, and a compressed-multiple phase throughout late 2024 and mid-2025, followed by a return to higher multiples in 2026.
- Share Price Trends
- The share price experienced a fluctuating trajectory, starting at 112.43 USD in March 2022 and reaching a low of 95.01 USD by September 2023. A strong recovery phase occurred between December 2023 and December 2024, with the price peaking at 134.92 USD. Subsequently, a downward trend was observed, reaching a period low of 91.33 USD in March 2026 before recovering to 107.27 USD by June 2026.
- Earnings per Share (EPS) Dynamics
- Earnings remained relatively stable between 3.99 USD and 4.88 USD during 2022, followed by a decline to a trough of 2.97 USD in mid-2023. A substantial and abrupt increase in earnings is observed starting in December 2024, where EPS jumped to 7.73 USD and peaked at 8.04 USD in September 2025. This elevated earnings level was short-lived, as EPS reverted to a lower range between 3.14 USD and 3.75 USD from December 2025 through June 2026.
- Price-to-Earnings (P/E) Ratio Interpretation
- The P/E ratio shows a strong correlation with earnings volatility. During the period of depressed earnings in 2023, the P/E ratio expanded, peaking at 36.16 in June 2023, suggesting that the market maintained high expectations despite lower current earnings. Conversely, the surge in EPS between December 2024 and September 2025 led to a dramatic compression of the P/E ratio, which reached its lowest point of 15.48 in June 2025. As earnings normalized back to lower levels in 2026, the P/E ratio expanded again, rising to 34.22 by June 2026.
Overall, the data indicates that the valuation compression seen in 2025 was driven by a temporary spike in earnings rather than a fundamental shift in market sentiment. The return to higher P/E multiples in 2026, coupled with the decline in EPS, suggests a restoration of the previous valuation baseline.
Price to Operating Profit (P/OP)
Abbott Laboratories, historical P/OP calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Operating earnings (in millions) | ||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Operating profit per share
= (Operating earningsQ2 2026
+ Operating earningsQ1 2026
+ Operating earningsQ4 2025
+ Operating earningsQ3 2025)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q2 2026 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The valuation of common stock exhibits significant volatility over the analyzed period, characterized by a notable expansion and subsequent contraction of the Price to Operating Profit (P/OP) ratio. The relationship between market pricing and operational performance suggests a period of valuation decoupling followed by a corrective phase.
- Share Price Performance
- The share price experienced moderate fluctuations between 2022 and 2023, remaining largely within the range of $95.01 to $114.01. A marked upward trend occurred throughout 2024, with the price peaking at $134.92 in December 2024. This peak was followed by a steady decline throughout 2025, reaching a low of $91.33 in March 2026 before recovering to $107.27 by June 2026.
- Operating Profit per Share (OPPS) Dynamics
- Operating profit per share showed a distinct U-shaped pattern. After starting at $5.27 in March 2022 and reaching a period high of $5.83 in June 2022, the OPPS declined to a trough of $3.46 by September 2023. A consistent recovery trend is observed from 2024 through late 2025, with profits ascending to $4.63 by December 2025, before a slight softening to $4.25 by June 2026.
- Price to Operating Profit (P/OP) Ratio Interpretation
- The P/OP ratio shifted from a relatively conservative range of 18.35 to 22.18 in 2022 to a period of significant expansion during 2023 and 2024. The ratio reached its maximum value of 34.28 in December 2024, indicating that the share price increased at a rate far exceeding the growth of operating profits. A corrective phase ensued in 2025, with the ratio contracting to 20.65 by March 2026, driven by a simultaneous decrease in share price and an improvement in operational profitability. The period concludes with a ratio of 25.27, suggesting a stabilization of the valuation multiple.
Price to Sales (P/S)
Abbott Laboratories, historical P/S calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net sales (in millions) | ||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Sales per share
= (Net salesQ2 2026
+ Net salesQ1 2026
+ Net salesQ4 2025
+ Net salesQ3 2025)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q2 2026 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The valuation of the equity relative to its revenue stream exhibits a cyclical pattern of expansion and contraction between March 2022 and June 2026. The Price-to-Sales (P/S) ratio fluctuated from a starting point of 4.42, reaching a peak of 5.58 in December 2024, before declining to a period low of 3.52 in March 2026.
- P/S Ratio Volatility and Valuation Peaks
- A general upward trend in valuation is observed from September 2022, when the P/S ratio sat at 3.85, through December 2024. This expansion peaked at 5.58, suggesting a period of increased market optimism or a premium applied to the revenue stream. Following this peak, a sustained correction occurred throughout 2025 and early 2026, leading to a valuation compression that bottomed at 3.52 before a slight recovery to 3.98 by June 2026.
- Share Price Influence
- The fluctuations in the P/S ratio are primarily driven by movements in the share price rather than significant shifts in revenue. The peak P/S ratio of 5.58 directly correlates with the period's highest share price of 134.92 USD in December 2024. Conversely, the valuation trough in March 2026 coincides with the lowest recorded share price of 91.33 USD.
- Sales per Share Performance
- Revenue efficiency, as measured by sales per share, remained relatively stable with a slight U-shaped trajectory. After a period of decline from 25.42 USD in March 2022 to a low of 23.02 USD in September 2023, a consistent growth trend is observed. Sales per share increased steadily from late 2023 through June 2026, reaching a period high of 26.92 USD. This underlying growth in sales per share served as a stabilizing factor during the share price declines of 2025 and 2026.
In summary, the divergence between the rising sales per share and the declining share price in the final year of the period resulted in a significant reduction of the P/S ratio, indicating a shift toward a more conservative valuation multiple by mid-2026.
Price to Book Value (P/BV)
Abbott Laboratories, historical P/BV calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Total Abbott shareholders’ investment (in millions) | ||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| Elevance Health Inc. | ||||||||||||||||||||||||
| Intuitive Surgical Inc. | ||||||||||||||||||||||||
| Medtronic PLC | ||||||||||||||||||||||||
| UnitedHealth Group Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
BVPS = Total Abbott shareholders’ investment ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Abbott Laboratories Quarterly or Annual Report.
4 Q2 2026 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
An analysis of the valuation metrics reveals a divergence between the growth of the company's intrinsic book value and the market's valuation multiple over the period from March 2022 to June 2026. While the book value per share exhibited consistent growth, the Price to Book Value (P/BV) ratio underwent a general contraction, reflecting a decrease in the premium the market is willing to pay relative to net assets.
- Book Value per Share (BVPS) Trajectory
- A steady upward trend in the book value per share is observed, increasing from 20.22 US$ in March 2022 to 29.54 US$ by June 2026. A notable acceleration in this growth occurred between September 30, 2024, and December 31, 2024, where the value rose from 22.94 US$ to 27.48 US$, signaling a significant increase in the company's equity base per share.
- Price to Book Value (P/BV) Ratio Analysis
- The P/BV ratio experienced an overall decline, starting at a peak of 5.56 in March 2022 and ending at 3.63 in June 2026. The ratio remained relatively stable between 4.40 and 5.21 for the majority of 2022 and 2023. However, a more pronounced downward trend emerged starting in 2024, reaching a period low of 3.06 on March 31, 2026.
- Market Price Volatility and Valuation Impact
- The fluctuation in the P/BV ratio is primarily driven by volatility in the share price rather than changes in book value. For instance, the sharp decline in the P/BV ratio to 3.06 in early 2026 corresponds directly with a share price drop to 91.33 US$, occurring while the book value per share remained near its peak of 29.89 US$. This indicates a period of market devaluation relative to the company's accounting value.
In summary, the compression of the P/BV ratio from 5.56 to 3.63, occurring alongside a 46% increase in book value per share, suggests a shift in market sentiment or a realignment of the valuation multiple over the observed timeframe.