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)
Time Warner Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).
| Valuation 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. | Time Warner Inc. P/E ratio decreased from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018. |
| 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. | Time Warner Inc. P/OP ratio decreased from Q3 2017 to Q4 2017 but then slightly increased from Q4 2017 to Q1 2018. |
| 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. | Time Warner Inc. P/S ratio decreased from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018. |
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Time Warner Inc. P/BV ratio decreased from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018. |
Price to Earnings (P/E)
Time Warner Inc., historical P/E calculation (quarterly data)
| Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 782,319,431 | 779,851,623 | 778,592,980 | 777,801,392 | 775,537,504 | 774,334,281 | 771,129,567 | 777,842,232 | 786,394,324 | 790,154,346 | 799,480,039 | 815,581,421 | 824,602,394 | 830,521,982 | 838,486,246 | 854,835,611 | 882,097,734 | 892,661,216 | 904,722,454 | 920,006,161 | 932,174,040 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Net income attributable to Time Warner Inc. shareholders (in millions) | 1,643) | 1,389) | 1,372) | 1,062) | 1,424) | 293) | 1,467) | 952) | 1,214) | 857) | 1,035) | 971) | 970) | 718) | 967) | 850) | 1,292) | 983) | 1,183) | 771) | 754) | |||||||
| Earnings per share (EPS)2 | 6.99 | 6.73 | 5.33 | 5.46 | 5.33 | 5.07 | 5.82 | 5.22 | 5.18 | 4.85 | 4.62 | 4.45 | 4.25 | 4.61 | 4.88 | 5.04 | 4.79 | 4.13 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 93.67 | 94.37 | 98.97 | 102.52 | 99.05 | 97.06 | 87.28 | 77.83 | 74.80 | 66.66 | 72.20 | 79.80 | 85.45 | 82.42 | 77.99 | 74.24 | 66.46 | 64.69 | 67.69 | 63.84 | 59.48 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/E ratio4 | 13.41 | 14.03 | 18.56 | 18.78 | 18.57 | 19.14 | 14.99 | 14.92 | 14.43 | 13.74 | 15.63 | 17.95 | 20.10 | 17.89 | 15.98 | 14.73 | 13.86 | 15.65 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Alphabet Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Comcast Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Meta Platforms Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Netflix Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Walt Disney Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2018 Calculation
EPS
= (Net income attributable to Time Warner Inc. shareholdersQ1 2018
+ Net income attributable to Time Warner Inc. shareholdersQ4 2017
+ Net income attributable to Time Warner Inc. shareholdersQ3 2017
+ Net income attributable to Time Warner Inc. shareholdersQ2 2017)
÷ No. shares of common stock outstanding
= (1,643,000,000 + 1,389,000,000 + 1,372,000,000 + 1,062,000,000)
÷ 782,319,431 = 6.99
3 Closing price as at the filing date of Time Warner Inc. Quarterly or Annual Report.
4 Q1 2018 Calculation
P/E ratio = Share price ÷ EPS
= 93.67 ÷ 6.99 = 13.41
5 Click competitor name to see calculations.
| Valuation 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. | Time Warner Inc. P/E ratio decreased from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018. |
Price to Operating Profit (P/OP)
Time Warner Inc., historical P/OP calculation (quarterly data)
| Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 782,319,431 | 779,851,623 | 778,592,980 | 777,801,392 | 775,537,504 | 774,334,281 | 771,129,567 | 777,842,232 | 786,394,324 | 790,154,346 | 799,480,039 | 815,581,421 | 824,602,394 | 830,521,982 | 838,486,246 | 854,835,611 | 882,097,734 | 892,661,216 | 904,722,454 | 920,006,161 | 932,174,040 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Operating income (in millions) | 1,811) | 1,907) | 2,245) | 1,692) | 2,076) | 1,691) | 2,014) | 1,846) | 1,996) | 1,386) | 1,834) | 1,859) | 1,786) | 1,389) | 971) | 1,567) | 2,048) | 1,840) | 1,844) | 1,511) | 1,410) | |||||||
| Operating profit per share2 | 9.79 | 10.16 | 9.89 | 9.61 | 9.83 | 9.75 | 9.39 | 9.08 | 9.00 | 8.69 | 8.59 | 7.36 | 6.93 | 7.19 | 7.66 | 8.54 | 8.21 | 7.40 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 93.67 | 94.37 | 98.97 | 102.52 | 99.05 | 97.06 | 87.28 | 77.83 | 74.80 | 66.66 | 72.20 | 79.80 | 85.45 | 82.42 | 77.99 | 74.24 | 66.46 | 64.69 | 67.69 | 63.84 | 59.48 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/OP ratio4 | 9.57 | 9.29 | 10.00 | 10.67 | 10.07 | 9.96 | 9.29 | 8.57 | 8.31 | 7.67 | 8.40 | 10.84 | 12.33 | 11.46 | 10.18 | 8.69 | 8.09 | 8.74 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Alphabet Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Comcast Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Meta Platforms Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Netflix Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Walt Disney Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2018 Calculation
Operating profit per share
= (Operating incomeQ1 2018
+ Operating incomeQ4 2017
+ Operating incomeQ3 2017
+ Operating incomeQ2 2017)
÷ No. shares of common stock outstanding
= (1,811,000,000 + 1,907,000,000 + 2,245,000,000 + 1,692,000,000)
÷ 782,319,431 = 9.79
3 Closing price as at the filing date of Time Warner Inc. Quarterly or Annual Report.
4 Q1 2018 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 93.67 ÷ 9.79 = 9.57
5 Click competitor name to see calculations.
| Valuation 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. | Time Warner Inc. P/OP ratio decreased from Q3 2017 to Q4 2017 but then slightly increased from Q4 2017 to Q1 2018. |
Price to Sales (P/S)
Time Warner Inc., historical P/S calculation (quarterly data)
| Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 782,319,431 | 779,851,623 | 778,592,980 | 777,801,392 | 775,537,504 | 774,334,281 | 771,129,567 | 777,842,232 | 786,394,324 | 790,154,346 | 799,480,039 | 815,581,421 | 824,602,394 | 830,521,982 | 838,486,246 | 854,835,611 | 882,097,734 | 892,661,216 | 904,722,454 | 920,006,161 | 932,174,040 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Revenues (in millions) | 7,996) | 8,611) | 7,595) | 7,330) | 7,735) | 7,891) | 7,167) | 6,952) | 7,308) | 7,079) | 6,564) | 7,348) | 7,127) | 7,525) | 6,243) | 6,788) | 6,803) | 8,565) | 6,856) | 7,435) | 6,939) | |||||||
| Sales per share2 | 40.31 | 40.10 | 39.24 | 38.73 | 38.35 | 37.86 | 36.97 | 35.87 | 35.99 | 35.59 | 35.73 | 34.63 | 33.57 | 32.94 | 33.87 | 33.94 | 33.62 | 33.38 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 93.67 | 94.37 | 98.97 | 102.52 | 99.05 | 97.06 | 87.28 | 77.83 | 74.80 | 66.66 | 72.20 | 79.80 | 85.45 | 82.42 | 77.99 | 74.24 | 66.46 | 64.69 | 67.69 | 63.84 | 59.48 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/S ratio4 | 2.32 | 2.35 | 2.52 | 2.65 | 2.58 | 2.56 | 2.36 | 2.17 | 2.08 | 1.87 | 2.02 | 2.30 | 2.55 | 2.50 | 2.30 | 2.19 | 1.98 | 1.94 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Alphabet Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Comcast Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Meta Platforms Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Netflix Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Walt Disney Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2018 Calculation
Sales per share
= (RevenuesQ1 2018
+ RevenuesQ4 2017
+ RevenuesQ3 2017
+ RevenuesQ2 2017)
÷ No. shares of common stock outstanding
= (7,996,000,000 + 8,611,000,000 + 7,595,000,000 + 7,330,000,000)
÷ 782,319,431 = 40.31
3 Closing price as at the filing date of Time Warner Inc. Quarterly or Annual Report.
4 Q1 2018 Calculation
P/S ratio = Share price ÷ Sales per share
= 93.67 ÷ 40.31 = 2.32
5 Click competitor name to see calculations.
| Valuation 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. | Time Warner Inc. P/S ratio decreased from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018. |
Price to Book Value (P/BV)
Time Warner Inc., historical P/BV calculation (quarterly data)
| Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 782,319,431 | 779,851,623 | 778,592,980 | 777,801,392 | 775,537,504 | 774,334,281 | 771,129,567 | 777,842,232 | 786,394,324 | 790,154,346 | 799,480,039 | 815,581,421 | 824,602,394 | 830,521,982 | 838,486,246 | 854,835,611 | 882,097,734 | 892,661,216 | 904,722,454 | 920,006,161 | 932,174,040 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Total Time Warner Inc. shareholders’ equity (in millions) | 29,805) | 28,375) | 27,267) | 25,987) | 25,425) | 24,335) | 24,278) | 23,888) | 23,843) | 23,619) | 23,648) | 24,025) | 24,198) | 24,476) | 25,230) | 25,907) | 30,044) | 29,904) | 29,929) | 29,782) | 29,991) | |||||||
| Book value per share (BVPS)2 | 38.10 | 36.39 | 35.02 | 33.41 | 32.78 | 31.43 | 31.48 | 30.71 | 30.32 | 29.89 | 29.58 | 29.46 | 29.35 | 29.47 | 30.09 | 30.31 | 34.06 | 33.50 | 33.08 | 32.37 | 32.17 | |||||||
| Share price1, 3 | 93.67 | 94.37 | 98.97 | 102.52 | 99.05 | 97.06 | 87.28 | 77.83 | 74.80 | 66.66 | 72.20 | 79.80 | 85.45 | 82.42 | 77.99 | 74.24 | 66.46 | 64.69 | 67.69 | 63.84 | 59.48 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/BV ratio4 | 2.46 | 2.59 | 2.83 | 3.07 | 3.02 | 3.09 | 2.77 | 2.53 | 2.47 | 2.23 | 2.44 | 2.71 | 2.91 | 2.80 | 2.59 | 2.45 | 1.95 | 1.93 | 2.05 | 1.97 | 1.85 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Alphabet Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Comcast Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Meta Platforms Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Netflix Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Walt Disney Co. | 3.69 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2018 Calculation
BVPS = Total Time Warner Inc. shareholders’ equity ÷ No. shares of common stock outstanding
= 29,805,000,000 ÷ 782,319,431 = 38.10
3 Closing price as at the filing date of Time Warner Inc. Quarterly or Annual Report.
4 Q1 2018 Calculation
P/BV ratio = Share price ÷ BVPS
= 93.67 ÷ 38.10 = 2.46
5 Click competitor name to see calculations.
| Valuation 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 required rate of return and its actual rate of return. | Time Warner Inc. P/BV ratio decreased from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018. |