Price to Earnings (P/E)
since 2005
Calculation
Allergan PLC, P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to ordinary shareholders1 (in thousands) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 18, 2020 | — | = | 198.00 | ÷ | -16.02 | -16.02 | = | -5,271,000 | ÷ | 329,002,015 | |
| Feb 15, 2019 | — | = | 139.07 | ÷ | -15.46 | -15.46 | = | -5,142,800 | ÷ | 332,614,474 | |
| Feb 16, 2018 | — | = | 164.04 | ÷ | -13.33 | -13.33 | = | -4,403,900 | ÷ | 330,320,420 | |
| Feb 24, 2017 | 5.60 | = | 245.37 | ÷ | 43.84 | 43.84 | = | 14,695,000 | ÷ | 335,224,713 | |
| Feb 26, 2016 | 31.94 | = | 298.07 | ÷ | 9.33 | 9.33 | = | 3,683,200 | ÷ | 394,687,384 | |
| Feb 18, 2015 | — | = | 284.00 | ÷ | -6.12 | -6.12 | = | -1,630,500 | ÷ | 266,252,295 | |
| Feb 25, 2014 | — | = | 225.00 | ÷ | -4.31 | -4.31 | = | -750,400 | ÷ | 174,199,744 | |
| Feb 28, 2013 | 111.88 | = | 85.16 | ÷ | 0.76 | 0.76 | = | 97,300 | ÷ | 127,832,241 | |
| Feb 16, 2012 | 29.40 | = | 60.31 | ÷ | 2.05 | 2.05 | = | 260,900 | ÷ | 127,165,346 | |
| Feb 22, 2011 | 37.46 | = | 54.90 | ÷ | 1.47 | 1.47 | = | 184,400 | ÷ | 125,827,379 | |
| Mar 1, 2010 | 22.32 | = | 40.12 | ÷ | 1.80 | 1.80 | = | 222,000 | ÷ | 123,516,219 | |
| Feb 23, 2009 | 12.77 | = | 29.10 | ÷ | 2.28 | 2.28 | = | 238,379 | ÷ | 104,627,327 | |
| Feb 25, 2008 | 20.72 | = | 28.19 | ÷ | 1.36 | 1.36 | = | 141,030 | ÷ | 103,657,619 | |
| Mar 1, 2007 | — | = | 25.71 | ÷ | -4.34 | -4.34 | = | -445,005 | ÷ | 102,500,489 | |
| Mar 10, 2006 | 23.73 | = | 29.55 | ÷ | 1.25 | 1.25 | = | 138,233 | ÷ | 111,029,721 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Allergan PLC Annual Report.
The financial performance from 2006 to 2020 is characterized by extreme volatility in earnings and significant fluctuations in market valuation. While the share price experienced a long-term growth phase peaking in 2016, the underlying earnings per share exhibited an inconsistent pattern of profitability and substantial losses.
- Share Price Trajectory
- A consistent upward trend was observed from 2006 through 2016, with the share price ascending from 29.55 USD to a peak of 298.07 USD. Following this peak, a period of devaluation occurred, with the price dropping to 139.07 USD by February 2019, before a partial recovery to 198.00 USD was recorded in February 2020.
- Earnings Per Share (EPS) Volatility
- Earnings demonstrated a highly unstable pattern, alternating between positive gains and significant losses. Notable deficits were recorded in 2007, 2014, and 2015, followed by a period of sustained losses from 2018 through 2020, where EPS fell to -16.02 USD. A singular period of exceptional profitability occurred in February 2017, with EPS reaching a high of 43.84 USD.
- Price-to-Earnings (P/E) Ratio Interpretation
- The P/E ratio remained undefined during years of negative earnings, highlighting the irregularity of the company's profitability. In years where earnings were positive, the ratio showed extreme variance. A valuation peak occurred in 2013 with a P/E of 111.88, suggesting a high market premium relative to low earnings. Conversely, the ratio reached a minimum of 5.60 in 2017, driven by the spike in EPS during that period.
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Comparison to Competitors
Allergan PLC, P/E, long-term trends, comparison to competitors
| Allergan PLC | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 18, 2020 | — | 17.82 | 17.07 | 41.99 | 38.34 | 16.19 | 16.45 | 25.99 | 20.60 | 11.63 | 19.86 | 33.36 | 52.90 |
| Feb 15, 2019 | — | 20.60 | 14.01 | 16.81 | 29.77 | 39.13 | 15.26 | 23.74 | 33.46 | 21.58 | 18.17 | 35.19 | 22.59 |
| Feb 16, 2018 | — | 35.47 | 64.06 | 103.55 | 27.25 | — | 22.75 | 268.10 | 61.63 | 9.99 | 28.99 | 37.66 | 155.08 |
| Feb 24, 2017 | 5.60 | 16.54 | 16.03 | 20.56 | 23.02 | 32.39 | 6.83 | 20.08 | 46.14 | 28.10 | 42.64 | 30.45 | — |
| Feb 26, 2016 | 31.94 | 17.01 | 15.95 | 64.22 | 17.85 | 33.35 | 6.75 | 18.80 | 31.64 | 26.37 | 60.50 | 26.19 | — |
| Feb 18, 2015 | — | 55.08 | 22.96 | 49.80 | 23.69 | 33.06 | 12.85 | 17.15 | 13.94 | 23.03 | 118.44 | 27.26 | — |
| Feb 25, 2014 | — | 19.64 | 18.69 | 35.01 | 19.74 | 13.88 | 42.00 | 18.72 | 37.83 | 9.32 | 77.00 | 38.43 | — |
| Feb 28, 2013 | 111.88 | 11.51 | 15.68 | 30.56 | 17.73 | 14.99 | 25.20 | 19.64 | 20.94 | 13.51 | 21.42 | 22.54 | — |
| Feb 16, 2012 | 29.40 | — | 14.61 | 15.07 | 16.92 | 10.42 | 12.20 | 18.48 | 18.63 | 15.99 | — | 15.58 | 267.42 |
| Feb 22, 2011 | 37.46 | — | 10.53 | 13.99 | 18.29 | 7.86 | 10.68 | 12.23 | 116.63 | 18.63 | — | 20.87 | — |
| Mar 1, 2010 | 22.32 | — | 12.10 | 4.03 | 20.93 | 9.18 | 16.29 | 14.22 | 9.00 | 16.41 | — | 23.49 | — |
| Feb 23, 2009 | 12.77 | — | 12.06 | 7.68 | 12.56 | — | 20.29 | 11.67 | 6.53 | 10.25 | — | 15.25 | — |
| Feb 25, 2008 | 20.72 | — | 15.64 | 20.60 | 17.35 | 19.26 | 25.19 | 17.07 | 29.88 | 18.51 | — | 30.76 | — |
| Mar 1, 2007 | — | — | 25.43 | 34.64 | 19.65 | 22.40 | — | 17.02 | 21.57 | 9.18 | — | 113.28 | — |
| Mar 10, 2006 | 23.73 | — | 23.70 | 14.96 | 21.38 | 31.90 | 34.15 | 16.95 | 16.62 | 23.92 | — | 25.36 | — |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Allergan PLC, P/E, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Allergan PLC | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 18, 2020 | — | 21.03 |
| Feb 15, 2019 | — | 22.89 |
| Feb 16, 2018 | — | 35.21 |
| Feb 24, 2017 | 5.60 | 20.62 |
| Feb 26, 2016 | 31.94 | 19.37 |
| Feb 18, 2015 | — | 21.40 |
| Feb 25, 2014 | — | 19.54 |
| Feb 28, 2013 | 111.88 | 17.56 |
| Feb 16, 2012 | 29.40 | 16.42 |
| Feb 22, 2011 | 37.46 | 16.11 |
| Mar 1, 2010 | 22.32 | 11.66 |
| Feb 23, 2009 | 12.77 | 12.21 |
| Feb 25, 2008 | 20.72 | 20.04 |
| Mar 1, 2007 | — | 17.46 |
| Mar 10, 2006 | 23.73 | 20.94 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Allergan PLC, P/E, long-term trends, comparison to industry (health care)
| Allergan PLC | Health Care | |
|---|---|---|
| Feb 18, 2020 | — | 22.09 |
| Feb 15, 2019 | — | 24.32 |
| Feb 16, 2018 | — | 33.04 |
| Feb 24, 2017 | 5.60 | 21.90 |
| Feb 26, 2016 | 31.94 | 19.53 |
| Feb 18, 2015 | — | 21.38 |
| Feb 25, 2014 | — | 18.67 |
| Feb 28, 2013 | 111.88 | 15.77 |
| Feb 16, 2012 | 29.40 | 15.79 |
| Feb 22, 2011 | 37.46 | 15.12 |
| Mar 1, 2010 | 22.32 | 11.71 |
| Feb 23, 2009 | 12.77 | 13.07 |
| Feb 25, 2008 | 20.72 | 19.29 |
| Mar 1, 2007 | — | 18.61 |
| Mar 10, 2006 | 23.73 | 21.71 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).