Price to Earnings (P/E)
since 2005
Calculation
AmerisourceBergen Corp., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss) attributable to AmerisourceBergen Corporation1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nov 22, 2022 | 19.94 | = | 164.71 | ÷ | 8.26 | 8.26 | = | 1,698,820 | ÷ | 205,668,628 | |
| Nov 23, 2021 | 16.71 | = | 123.66 | ÷ | 7.40 | 7.40 | = | 1,539,932 | ÷ | 208,133,361 | |
| Nov 19, 2020 | — | = | 101.90 | ÷ | -16.69 | -16.69 | = | -3,408,716 | ÷ | 204,249,747 | |
| Nov 19, 2019 | 21.14 | = | 87.81 | ÷ | 4.15 | 4.15 | = | 855,365 | ÷ | 205,922,186 | |
| Nov 20, 2018 | 11.36 | = | 88.87 | ÷ | 7.83 | 7.83 | = | 1,658,405 | ÷ | 211,933,493 | |
| Nov 21, 2017 | 47.54 | = | 79.46 | ÷ | 1.67 | 1.67 | = | 364,484 | ÷ | 218,082,051 | |
| Nov 22, 2016 | 12.09 | = | 78.41 | ÷ | 6.49 | 6.49 | = | 1,427,929 | ÷ | 220,100,206 | |
| Nov 24, 2015 | — | = | 98.50 | ÷ | -0.66 | -0.66 | = | -134,887 | ÷ | 205,632,943 | |
| Nov 25, 2014 | 71.44 | = | 90.32 | ÷ | 1.26 | 1.26 | = | 276,484 | ÷ | 218,691,869 | |
| Nov 26, 2013 | 37.45 | = | 70.61 | ÷ | 1.89 | 1.89 | = | 433,707 | ÷ | 230,032,094 | |
| Nov 27, 2012 | 13.50 | = | 41.22 | ÷ | 3.05 | 3.05 | = | 718,986 | ÷ | 235,475,712 | |
| Nov 22, 2011 | 13.39 | = | 36.63 | ÷ | 2.74 | 2.74 | = | 706,624 | ÷ | 258,343,469 | |
| Nov 23, 2010 | 13.43 | = | 30.95 | ÷ | 2.30 | 2.30 | = | 636,748 | ÷ | 276,347,761 | |
| Nov 25, 2009 | 14.30 | = | 24.98 | ÷ | 1.75 | 1.75 | = | 503,397 | ÷ | 288,084,821 | |
| Nov 25, 2008 | 18.57 | = | 14.89 | ÷ | 0.80 | 0.80 | = | 250,559 | ÷ | 312,437,558 | |
| Nov 28, 2007 | 15.91 | = | 22.22 | ÷ | 1.40 | 1.40 | = | 469,167 | ÷ | 335,922,306 | |
| Dec 8, 2006 | 18.89 | = | 23.00 | ÷ | 1.22 | 1.22 | = | 467,714 | ÷ | 384,177,028 | |
| Dec 9, 2005 | 32.08 | = | 20.36 | ÷ | 0.63 | 0.63 | = | 264,645 | ÷ | 417,042,656 |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of AmerisourceBergen Corp. Annual Report.
The financial trajectory is characterized by a consistent long-term increase in share price, which rose from 20.36 USD in 2005 to 164.71 USD by 2022. However, this growth is contrasted by significant volatility in earnings per share (EPS) and resulting fluctuations in price-to-earnings (P/E) multiples.
- Valuation Compression and Stability (2005-2012)
- An initial trend of P/E ratio compression is observed, falling from 32.08 in 2005 to a stable range between 13.39 and 13.50 from 2010 to 2012. During this period, the market valuation remained relatively consistent as share price increases were largely supported by steady growth in EPS.
- Valuation Spikes and Divergence (2013-2017)
- A period of extreme valuation divergence occurred between 2013 and 2017. The P/E ratio surged to 37.45 in 2013 and peaked at 71.44 in 2014; this was driven by a sharp decline in EPS from 3.05 USD in 2012 to 1.26 USD in 2014, even as the share price climbed from 41.22 USD to 90.32 USD. A second significant spike to 47.54 was recorded in 2017.
- Earnings Volatility and Negative EPS
- The P/E ratio became non-calculable in 2015 and 2020 due to negative earnings per share of -0.66 USD and -16.69 USD, respectively. These episodes of negative earnings represent severe deviations from the general upward trend of the share price, indicating periods of significant financial volatility or one-time charges.
- Recent Valuation Normalization (2018-2022)
- Following the volatility of the mid-2010s, the P/E ratio returned to a more moderate range, recording 11.36 in 2018 and concluding at 19.94 in 2022. This phase demonstrates a stronger alignment between peak share prices and a recovery in EPS, which reached its highest point of 8.26 USD in 2022.
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Comparison to Competitors
AmerisourceBergen Corp., P/E, long-term trends, comparison to competitors
| AmerisourceBergen Corp. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Nov 22, 2022 | 19.94 | 26.76 | 9,358,713.46 | 64.99 | 23.38 | 22.46 |
| Nov 23, 2021 | 16.71 | 29.13 | 18.13 | 59.94 | 46.56 | 26.03 |
| Nov 19, 2020 | — | 48.49 | 15.87 | 87.47 | 26.30 | 20.54 |
| Nov 19, 2019 | 21.14 | 41.83 | 15.96 | 48.72 | 28.78 | 20.48 |
| Nov 20, 2018 | 11.36 | 56.47 | 21.45 | 53.03 | 37.80 | 21.09 |
| Nov 21, 2017 | 47.54 | 220.29 | 15.44 | 70.95 | 29.96 | 20.77 |
| Nov 22, 2016 | 12.09 | 55.16 | 17.48 | 37.16 | 33.17 | 21.73 |
| Nov 24, 2015 | — | 12.83 | 12.99 | 34.24 | 40.56 | 18.18 |
| Nov 25, 2014 | 71.44 | 31.30 | 15.29 | 44.77 | 20.75 | 18.50 |
| Nov 26, 2013 | 37.45 | 23.25 | 9.95 | 22.82 | 14.99 | 12.35 |
| Nov 27, 2012 | 13.50 | 9.24 | 7.09 | 35.05 | 10.57 | 10.58 |
| Nov 22, 2011 | 13.39 | 18.67 | 8.36 | 39.05 | 13.37 | 10.78 |
| Nov 23, 2010 | 13.43 | 15.68 | 8.74 | 33.85 | 12.65 | 10.01 |
| Nov 25, 2009 | 14.30 | 14.69 | 5.53 | 54.30 | 17.11 | 9.91 |
| Nov 25, 2008 | 18.57 | 17.11 | 8.26 | 21.99 | 26.02 | 11.66 |
| Nov 28, 2007 | 15.91 | 23.82 | 12.02 | 79.87 | 20.81 | 12.85 |
| Dec 8, 2006 | 18.89 | 48.17 | 16.05 | 58.08 | 21.31 | 17.58 |
| Dec 9, 2005 | 32.08 | 20.03 | 20.66 | 36.68 | 35.12 | 24.20 |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Health Care Equipment & Services)
AmerisourceBergen Corp., P/E, long-term trends, comparison to sector (health care equipment & services)
| AmerisourceBergen Corp. | Health Care Equipment & Services | |
|---|---|---|
| Nov 22, 2022 | 19.94 | 1,429,718.32 |
| Nov 23, 2021 | 16.71 | 28.98 |
| Nov 19, 2020 | — | 27.23 |
| Nov 19, 2019 | 21.14 | 25.22 |
| Nov 20, 2018 | 11.36 | 28.84 |
| Nov 21, 2017 | 47.54 | 28.17 |
| Nov 22, 2016 | 12.09 | 27.54 |
| Nov 24, 2015 | — | 20.20 |
| Nov 25, 2014 | 71.44 | 21.28 |
| Nov 26, 2013 | 37.45 | 14.93 |
| Nov 27, 2012 | 13.50 | 10.51 |
| Nov 22, 2011 | 13.39 | 14.07 |
| Nov 23, 2010 | 13.43 | 12.56 |
| Nov 25, 2009 | 14.30 | 11.86 |
| Nov 25, 2008 | 18.57 | 15.75 |
| Nov 28, 2007 | 15.91 | 17.58 |
| Dec 8, 2006 | 18.89 | 22.77 |
| Dec 9, 2005 | 32.08 | 24.03 |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Health Care)
AmerisourceBergen Corp., P/E, long-term trends, comparison to industry (health care)
| AmerisourceBergen Corp. | Health Care | |
|---|---|---|
| Nov 22, 2022 | 19.94 | 351,256.81 |
| Nov 23, 2021 | 16.71 | 21.55 |
| Nov 19, 2020 | — | 32.22 |
| Nov 19, 2019 | 21.14 | 22.09 |
| Nov 20, 2018 | 11.36 | 24.32 |
| Nov 21, 2017 | 47.54 | 33.04 |
| Nov 22, 2016 | 12.09 | 21.90 |
| Nov 24, 2015 | — | 19.53 |
| Nov 25, 2014 | 71.44 | 21.38 |
| Nov 26, 2013 | 37.45 | 18.67 |
| Nov 27, 2012 | 13.50 | 15.77 |
| Nov 22, 2011 | 13.39 | 15.79 |
| Nov 23, 2010 | 13.43 | 15.12 |
| Nov 25, 2009 | 14.30 | 11.71 |
| Nov 25, 2008 | 18.57 | 13.07 |
| Nov 28, 2007 | 15.91 | 19.29 |
| Dec 8, 2006 | 18.89 | 18.61 |
| Dec 9, 2005 | 32.08 | 21.71 |
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).