Stock Analysis on Net

Abiomed Inc. (NASDAQ:ABMD)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 3, 2022.

Return on Capital (ROC)

Microsoft Excel

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Return on Invested Capital (ROIC)

Abiomed Inc., ROIC calculation, comparison to benchmarks

Microsoft Excel
Mar 31, 2022 Mar 31, 2021 Mar 31, 2020 Mar 31, 2019 Mar 31, 2018 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Net operating profit after taxes (NOPAT)1
Invested capital2
Performance Ratio
ROIC3
Benchmarks
ROIC, Competitors4
Abbott Laboratories
Cigna Group
CVS Health Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).

1 NOPAT. See details »

2 Invested capital. See details »

3 2022 Calculation
ROIC = 100 × NOPAT ÷ Invested capital
= 100 × ÷ =

4 Click competitor name to see calculations.

Performance ratio Description The company
ROIC A measure of the periodic, after tax, cash-on-cash yield earned in the business. Abiomed Inc. ROIC deteriorated from 2020 to 2021 and from 2021 to 2022.

Decomposition of ROIC

Abiomed Inc., decomposition of ROIC

Microsoft Excel
ROIC = OPM1 × TO2 × 1 – CTR3
Mar 31, 2022 = × ×
Mar 31, 2021 = × ×
Mar 31, 2020 = × ×
Mar 31, 2019 = × ×
Mar 31, 2018 = × ×
Mar 31, 2017 = × ×

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).

1 Operating profit margin (OPM). See calculations »

2 Turnover of capital (TO). See calculations »

3 Effective cash tax rate (CTR). See calculations »

The primary reason for the decrease in return on invested capital (ROIC) over 2022 year is the decrease in profitability measured by operating profit margin (OPM) ratio.


Operating Profit Margin (OPM)

Abiomed Inc., OPM calculation, comparison to benchmarks

Microsoft Excel
Mar 31, 2022 Mar 31, 2021 Mar 31, 2020 Mar 31, 2019 Mar 31, 2018 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Net operating profit after taxes (NOPAT)1
Add: Cash operating taxes2
Net operating profit before taxes (NOPBT)
 
Revenue
Add: Increase (decrease) in deferred revenue
Adjusted revenue
Profitability Ratio
OPM3
Benchmarks
OPM, Competitors4
Abbott Laboratories
Cigna Group
CVS Health Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).

1 NOPAT. See details »

2 Cash operating taxes. See details »

3 2022 Calculation
OPM = 100 × NOPBT ÷ Adjusted revenue
= 100 × ÷ =

4 Click competitor name to see calculations.

Profitability ratio Description The company
OPM The operating profit margin (OPM) is the ratio of pretax economic earnings, or NOPBT, to sales. Abiomed Inc. OPM improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Turnover of Capital (TO)

Abiomed Inc., TO calculation, comparison to benchmarks

Microsoft Excel
Mar 31, 2022 Mar 31, 2021 Mar 31, 2020 Mar 31, 2019 Mar 31, 2018 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Revenue
Add: Increase (decrease) in deferred revenue
Adjusted revenue
 
Invested capital1
Efficiency Ratio
TO2
Benchmarks
TO, Competitors3
Abbott Laboratories
Cigna Group
CVS Health Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).

1 Invested capital. See details »

2 2022 Calculation
TO = Adjusted revenue ÷ Invested capital
= ÷ =

3 Click competitor name to see calculations.

Efficiency ratio Description The company
TO The turnover of capital (TO) is the ratio of sales to invested capital. Capital turnover is a function of the efficiency of working capital management and of net fixed assets. Abiomed Inc. TO deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Effective Cash Tax Rate (CTR)

Abiomed Inc., CTR calculation, comparison to benchmarks

Microsoft Excel
Mar 31, 2022 Mar 31, 2021 Mar 31, 2020 Mar 31, 2019 Mar 31, 2018 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Net operating profit after taxes (NOPAT)1
Add: Cash operating taxes2
Net operating profit before taxes (NOPBT)
Tax Rate
CTR3
Benchmarks
CTR, Competitors4
Abbott Laboratories
Cigna Group
CVS Health Corp.
Elevance Health Inc.
Humana Inc.
Intuitive Surgical Inc.
Medtronic PLC
UnitedHealth Group Inc.

Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31).

1 NOPAT. See details »

2 Cash operating taxes. See details »

3 2022 Calculation
CTR = 100 × Cash operating taxes ÷ NOPBT
= 100 × ÷ =

4 Click competitor name to see calculations.

Tax rate Description The company
CTR Effective cash tax rate on operating income. Abiomed Inc. CTR increased from 2020 to 2021 and from 2021 to 2022.