Common Stock Valuation Ratios (Price Multiples) Quarterly Data

Difficulty: Beginner

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)

Coca-Cola Co., historical price multiples (quarterly data)

 
Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013 Dec 31, 2012 Sep 28, 2012 Jun 29, 2012 Mar 30, 2012
Price to earnings (P/E) 43.29 47.41 29.52 27.48 25.18 24.73 26.53 26.01 26.99 23.39 25.13 25.87 22.32 20.76 21.16 19.54 19.60 21.04 21.64 19.00
Price to operating profit (P/OP) 26.14 25.59 21.70 20.80 20.67 21.18 22.52 21.91 21.46 19.63 18.36 18.91 17.31 17.17 17.54 16.40 16.63 17.04 17.66 15.90
Price to sales (P/S) 5.28 5.06 4.52 4.28 4.28 4.36 4.40 4.32 4.11 3.86 3.83 3.99 3.89 3.76 3.86 3.58 3.62 3.81 3.94 3.57
Price to book value (P/BV) 8.91 8.94 8.03 7.78 6.97 7.07 7.75 7.48 7.13 6.21 6.13 6.06 5.37 5.10 5.48 5.06 5.33 5.62 5.81 5.23 5.01 5.50 5.21
Ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Coca-Cola Co.'s P/E ratio increased from Q1 2017 to Q2 2017 but then slightly declined from Q2 2017 to Q3 2017.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Coca-Cola Co.'s P/OP ratio increased from Q1 2017 to Q2 2017 and from Q2 2017 to Q3 2017.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Coca-Cola Co.'s P/S ratio increased from Q1 2017 to Q2 2017 and from Q2 2017 to Q3 2017.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return. Coca-Cola Co.'s P/BV ratio increased from Q1 2017 to Q2 2017 but then slightly declined from Q2 2017 to Q3 2017.

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Price to Earnings (P/E)

Coca-Cola Co., historical P/E calculation (quarterly data)

 
Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013 Dec 31, 2012 Sep 28, 2012 Jun 29, 2012 Mar 30, 2012
No. shares of common stock outstanding1 4,260,667,316 4,265,304,181 4,272,559,271 4,293,461,702 4,312,959,416 4,316,029,450 4,326,198,723 4,329,497,778 4,348,985,156 4,350,003,656 4,358,700,821 4,366,243,616 4,380,112,851 4,385,923,844 4,395,182,857 4,405,893,150 4,415,922,733 4,433,153,574 4,453,755,295 4,456,717,996 4,485,161,506 4,501,923,194 4,515,868,544
Selected Financial Data (USD $)
Net income attributable to shareowners of The Coca-Cola Company (in millions) 1,447  1,371  1,182  550  1,046  3,448  1,483  1,237  1,449  3,108  1,557  770  2,114  2,595  1,619  1,710  2,447  2,676  1,751  1,866  2,311  2,788  2,054 
Earnings per share (EPS)3 1.07 0.97 1.46 1.52 1.67 1.76 1.68 1.70 1.58 1.74 1.61 1.63 1.84 1.91 1.92 1.95 1.98 1.94 1.96 2.02
Share price1, 2 46.23 46.12 43.01 41.78 42.12 43.65 44.63 44.16 42.73 40.59 40.56 42.05 40.96 39.62 40.70 38.07 38.80 40.84 42.35 38.45 37.09 39.43 37.86
P/E ratio4 43.29 47.41 29.52 27.48 25.18 24.73 26.53 26.01 26.99 23.39 25.13 25.87 22.32 20.76 21.16 19.54 19.60 21.04 21.64 19.00

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Coca-Cola Co.'s Quarterly or Annual Report.

Q3 2017 Calculations

3 EPS = (Net income attributable to shareowners of The Coca-Cola CompanyQ3 2017 + Net income attributable to shareowners of The Coca-Cola CompanyQ2 2017 + Net income attributable to shareowners of The Coca-Cola CompanyQ1 2017 + Net income attributable to shareowners of The Coca-Cola CompanyQ4 2016) ÷ No. shares of common stock outstanding
= (1,447,000,000 + 1,371,000,000 + 1,182,000,000 + 550,000,000) ÷ 4,260,667,316 = 1.07

4 P/E ratio = Share price ÷ EPS
= 46.23 ÷ 1.07 = 43.29

Ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Coca-Cola Co.'s P/E ratio increased from Q1 2017 to Q2 2017 but then slightly declined from Q2 2017 to Q3 2017.

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Price to Operating Profit (P/OP)

Coca-Cola Co., historical P/OP calculation (quarterly data)

 
Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013 Dec 31, 2012 Sep 28, 2012 Jun 29, 2012 Mar 30, 2012
No. shares of common stock outstanding1 4,260,667,316 4,265,304,181 4,272,559,271 4,293,461,702 4,312,959,416 4,316,029,450 4,326,198,723 4,329,497,778 4,348,985,156 4,350,003,656 4,358,700,821 4,366,243,616 4,380,112,851 4,385,923,844 4,395,182,857 4,405,893,150 4,415,922,733 4,433,153,574 4,453,755,295 4,456,717,996 4,485,161,506 4,501,923,194 4,515,868,544
Selected Financial Data (USD $)
Operating income (in millions) 2,120  2,078  1,982  1,355  2,271  2,859  2,141  1,518  2,379  2,535  2,296  1,451  2,711  3,170  2,376  2,105  2,472  3,243  2,408  2,183  2,793  3,294  2,509 
Operating profit per share3 1.77 1.80 1.98 2.01 2.04 2.06 1.98 2.02 1.99 2.07 2.21 2.22 2.37 2.31 2.32 2.32 2.33 2.40 2.40 2.42
Share price1, 2 46.23 46.12 43.01 41.78 42.12 43.65 44.63 44.16 42.73 40.59 40.56 42.05 40.96 39.62 40.70 38.07 38.80 40.84 42.35 38.45 37.09 39.43 37.86
P/OP ratio4 26.14 25.59 21.70 20.80 20.67 21.18 22.52 21.91 21.46 19.63 18.36 18.91 17.31 17.17 17.54 16.40 16.63 17.04 17.66 15.90

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Coca-Cola Co.'s Quarterly or Annual Report.

Q3 2017 Calculations

3 Operating profit per share = (Operating incomeQ3 2017 + Operating incomeQ2 2017 + Operating incomeQ1 2017 + Operating incomeQ4 2016) ÷ No. shares of common stock outstanding
= (2,120,000,000 + 2,078,000,000 + 1,982,000,000 + 1,355,000,000) ÷ 4,260,667,316 = 1.77

4 P/OP ratio = Share price ÷ Operating profit per share
= 46.23 ÷ 1.77 = 26.14

Ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Coca-Cola Co.'s P/OP ratio increased from Q1 2017 to Q2 2017 and from Q2 2017 to Q3 2017.

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Price to Sales (P/S)

Coca-Cola Co., historical P/S calculation (quarterly data)

 
Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013 Dec 31, 2012 Sep 28, 2012 Jun 29, 2012 Mar 30, 2012
No. shares of common stock outstanding1 4,260,667,316 4,265,304,181 4,272,559,271 4,293,461,702 4,312,959,416 4,316,029,450 4,326,198,723 4,329,497,778 4,348,985,156 4,350,003,656 4,358,700,821 4,366,243,616 4,380,112,851 4,385,923,844 4,395,182,857 4,405,893,150 4,415,922,733 4,433,153,574 4,453,755,295 4,456,717,996 4,485,161,506 4,501,923,194 4,515,868,544
Selected Financial Data (USD $)
Net operating revenues (in millions) 9,078  9,702  9,118  9,409  10,633  11,539  10,282  10,000  11,427  12,156  10,711  10,872  11,976  12,574  10,576  11,040  12,030  12,749  11,035  11,455  12,340  13,085  11,137 
Sales per share3 8.76 9.11 9.53 9.75 9.84 10.02 10.14 10.23 10.39 10.51 10.58 10.53 10.54 10.54 10.56 10.63 10.70 10.73 10.76 10.77
Share price1, 2 46.23 46.12 43.01 41.78 42.12 43.65 44.63 44.16 42.73 40.59 40.56 42.05 40.96 39.62 40.70 38.07 38.80 40.84 42.35 38.45 37.09 39.43 37.86
P/S ratio4 5.28 5.06 4.52 4.28 4.28 4.36 4.40 4.32 4.11 3.86 3.83 3.99 3.89 3.76 3.86 3.58 3.62 3.81 3.94 3.57

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Coca-Cola Co.'s Quarterly or Annual Report.

Q3 2017 Calculations

3 Sales per share = (Net operating revenuesQ3 2017 + Net operating revenuesQ2 2017 + Net operating revenuesQ1 2017 + Net operating revenuesQ4 2016) ÷ No. shares of common stock outstanding
= (9,078,000,000 + 9,702,000,000 + 9,118,000,000 + 9,409,000,000) ÷ 4,260,667,316 = 8.76

4 P/S ratio = Share price ÷ Sales per share
= 46.23 ÷ 8.76 = 5.28

Ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Coca-Cola Co.'s P/S ratio increased from Q1 2017 to Q2 2017 and from Q2 2017 to Q3 2017.

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Price to Book Value (P/BV)

Coca-Cola Co., historical P/BV calculation (quarterly data)

 
Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015 Dec 31, 2014 Sep 26, 2014 Jun 27, 2014 Mar 28, 2014 Dec 31, 2013 Sep 27, 2013 Jun 28, 2013 Mar 29, 2013 Dec 31, 2012 Sep 28, 2012 Jun 29, 2012 Mar 30, 2012
No. shares of common stock outstanding1 4,260,667,316 4,265,304,181 4,272,559,271 4,293,461,702 4,312,959,416 4,316,029,450 4,326,198,723 4,329,497,778 4,348,985,156 4,350,003,656 4,358,700,821 4,366,243,616 4,380,112,851 4,385,923,844 4,395,182,857 4,405,893,150 4,415,922,733 4,433,153,574 4,453,755,295 4,456,717,996 4,485,161,506 4,501,923,194 4,515,868,544
Selected Financial Data (USD $)
Equity attributable to shareowners of The Coca-Cola Company (in millions) 22,119  22,001  22,876  23,062  26,076  26,637  24,914  25,554  26,049  28,418  28,837  30,320  33,429  34,071  32,654  33,173  32,132  32,223  32,480  32,790  33,210  32,269  32,818 
Book value per share (BVPS)3 5.19 5.16 5.35 5.37 6.05 6.17 5.76 5.90 5.99 6.53 6.62 6.94 7.63 7.77 7.43 7.53 7.28 7.27 7.29 7.36 7.40 7.17 7.27
Share price1, 2 46.23 46.12 43.01 41.78 42.12 43.65 44.63 44.16 42.73 40.59 40.56 42.05 40.96 39.62 40.70 38.07 38.80 40.84 42.35 38.45 37.09 39.43 37.86
P/BV ratio4 8.91 8.94 8.03 7.78 6.97 7.07 7.75 7.48 7.13 6.21 6.13 6.06 5.37 5.10 5.48 5.06 5.33 5.62 5.81 5.23 5.01 5.50 5.21

1 Data adjusted for splits and stock dividends.

2 Close price on the filing date of Coca-Cola Co.'s Quarterly or Annual Report.

Q3 2017 Calculations

3 BVPS = Equity attributable to shareowners of The Coca-Cola Company ÷ No. shares of common stock outstanding
= 22,119,000,000 ÷ 4,260,667,316 = 5.19

4 P/BV ratio = Share price ÷ BVPS
= 46.23 ÷ 5.19 = 8.91

Ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company's required rate of return and its actual rate of return. Coca-Cola Co.'s P/BV ratio increased from Q1 2017 to Q2 2017 but then slightly declined from Q2 2017 to Q3 2017.

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