Calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Income (loss) from operations1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2025 | — | = | 102.43 | ÷ | -3.45 | -3.45 | = | -803 | ÷ | 232,699,939 | |
| Feb 21, 2024 | 3.49 | = | 83.85 | ÷ | 24.02 | 24.02 | = | 3,142 | ÷ | 130,794,770 | |
| Feb 22, 2023 | 2.84 | = | 79.70 | ÷ | 28.06 | 28.06 | = | 3,780 | ÷ | 134,719,821 | |
| Feb 24, 2022 | 11.94 | = | 70.91 | ÷ | 5.94 | 5.94 | = | 704 | ÷ | 118,558,307 |
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).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Expand Energy Corp. Annual Report.
The financial trajectory of Expand Energy Corp. exhibits a significant divergence between market valuation and operational performance over the four-year period ending February 2025. While the equity price has maintained a consistent upward trajectory, the underlying operational profitability has been characterized by extreme volatility, culminating in a net operating loss in the most recent period.
- Share Price Appreciation
- A continuous increase in market value is observed, with the share price rising from 70.91 US$ in February 2022 to 102.43 US$ in February 2025. This steady growth indicates sustained investor confidence or market speculation despite fluctuations in the company's operating results.
- Operating Profit per Share Volatility
- Operational earnings per share experienced a dramatic surge between February 2022 and February 2023, increasing from 5.94 US$ to 28.06 US$. This peak was followed by a moderate decline to 24.02 US$ in February 2024. A severe downturn occurred by February 2025, with operating profit per share falling to -3.45 US$, signaling a shift from profitability to an operating deficit.
- Price to Operating Profit (P/OP) Dynamics
- The P/OP ratio underwent a sharp contraction from 11.94 in February 2022 to 2.84 in February 2023, as operating profit growth significantly outpaced the increase in share price. The ratio remained relatively stable at 3.49 in February 2024. However, the ratio became non-calculable in February 2025 due to the negative operating profit, highlighting a complete decoupling between the current share price and the company's immediate operational earnings.
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