Price to Operating Profit (P/OP)
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Calculation
Alphabet Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Income from operations1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 5, 2025 | = | ÷ | = | ÷ | |||||||
| Jan 31, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 3, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 2, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 3, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 4, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 5, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 3, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2014 | = | ÷ | = | ÷ | |||||||
| Jan 29, 2013 | = | ÷ | = | ÷ | |||||||
| Jan 26, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 16, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Alphabet Inc. Annual Report.
- Share Price Trends
- The share price demonstrates an overall upward trajectory from 2006 through the early 2020s, starting at $8.47 in 2006 and reaching a peak of $193.3 in early 2025. Notably, there are intermittent periods of fluctuation: for example, a downturn between 2013 and 2015 is observed where the price dropped from $29.67 to $26.39, followed by continuous growth afterward. A significant acceleration in share value growth occurred from 2019 to the early 2020s, climbing from $57.3 to over $148 by 2022, despite a dip in 2023 to approximately $105.22 before recovering substantially in 2024 and 2025.
- Operating Profit per Share (OPPS) Development
- Operating profit per share exhibits a steady increase over the entire period, beginning at $0.17 in 2006 and scaling up to an anomalous figure of over 9 million in 2025, suggesting a potential data anomaly or extraordinary item influencing the value in the final period. Excluding the outlier in 2025, OPPS increases consistently year over year, from less than a dollar in the initial years to nearly $6.78 by 2024, indicating improving operational profitability on a per-share basis.
- Price to Operating Profit Ratio (P/OP) Analysis
- The P/OP ratio reveals variability through the time series, initially declining from approximately 50 in 2006 to a low near 15.73 by 2012, signifying potentially improved valuation efficiency relative to operating profit. Subsequent years see pronounced fluctuations, with peaks around 30 in the mid-2010s, followed by a downward trend to below 20 by 2023. The ratio drops to zero in 2025, which correlates with the extreme spike in operating profit per share, reinforcing the indication of irregular data or exceptional adjustments during the final period.
- Overall Observations
- The financial metrics indicate sustained growth in market valuation paralleled by an increase in operating profitability per share over nearly two decades. Fluctuations in the P/OP ratio suggest changing market perceptions of value in relation to earnings, with occasional moments of volatility possibly driven by external market conditions or company-specific events. The anomalous data point in 2025 warrants further investigation to clarify its nature and impact on the firm's financial analysis.
Comparison to Competitors
Alphabet Inc., P/OP, long-term trends, comparison to competitors
| Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Take-Two Interactive Software Inc. | |
|---|---|---|---|---|---|
| Feb 5, 2025 | |||||
| Jan 31, 2024 | |||||
| Feb 3, 2023 | |||||
| Feb 2, 2022 | |||||
| Feb 3, 2021 | |||||
| Feb 4, 2020 | |||||
| Feb 5, 2019 | |||||
| Feb 6, 2018 | |||||
| Feb 3, 2017 | |||||
| Feb 11, 2016 | |||||
| Feb 9, 2015 | |||||
| Feb 12, 2014 | |||||
| Jan 29, 2013 | |||||
| Jan 26, 2012 | |||||
| Feb 11, 2011 | |||||
| Feb 12, 2010 | |||||
| Feb 13, 2009 | |||||
| Feb 15, 2008 | |||||
| Mar 1, 2007 | |||||
| Mar 16, 2006 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).