25% Abbott Revenues Is Covid, so PE Ratio should be same Its not unreasonable that the PE Ratio for Therma Bright could between 5.0 unto 10.0, based on the growth in these other firms, which DID NOT have Covid-19 Rapid Test products two years ago. These is a brand spanking new product line for all these companies, which includes new revenue streams into their businesses. .
25% of Abbotts $11.5B Revenues was Covid19 tests ($2.8B), so you could estimate that 25% of PE Ratio of 30.6 = 7.5. on Covid alone.
Abbott reported fourth-quarter net income of $1.98 billion on revenues of nearly $11.5 billion, which were up 7%, as worldwide. Abbott’s global Covid-19 testing sales hit $2.3 billion in the fourth quarter and the bulk of that, or $2.1 billion, came from Abbott’s family of rapid tests: BinaxNOW, Panbio and ID NOW.
(Source: Forbes - January 26, 2022: https://www.forbes.com/sites/brucejapsen/2022/01/26/abbott-labs-weve-shipped-14-billion-covid-tests-since-pandemics-beginning/?sh=7e8963d46431)