Price to Operating Profit (P/OP)
since 2012
Calculation
Meta Platforms 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 30, 2025 | 25.09 | = | 687.00 | ÷ | 27.38 | 27.38 | = | 69,380 | ÷ | 2,533,659,265 | |
| Feb 2, 2024 | 25.90 | = | 474.99 | ÷ | 18.34 | 18.34 | = | 46,751 | ÷ | 2,549,405,106 | |
| Feb 2, 2023 | 16.91 | = | 188.77 | ÷ | 11.16 | 11.16 | = | 28,944 | ÷ | 2,592,639,548 | |
| Feb 3, 2022 | 13.84 | = | 237.76 | ÷ | 17.18 | 17.18 | = | 46,753 | ÷ | 2,721,941,960 | |
| Jan 28, 2021 | 23.10 | = | 265.00 | ÷ | 11.47 | 11.47 | = | 32,671 | ÷ | 2,847,669,951 | |
| Jan 30, 2020 | 24.90 | = | 209.53 | ÷ | 8.41 | 8.41 | = | 23,986 | ÷ | 2,850,450,659 | |
| Jan 31, 2019 | 19.10 | = | 166.69 | ÷ | 8.73 | 8.73 | = | 24,913 | ÷ | 2,853,989,800 | |
| Feb 1, 2018 | 27.76 | = | 193.09 | ÷ | 6.95 | 6.95 | = | 20,203 | ÷ | 2,905,000,758 | |
| Feb 3, 2017 | 30.46 | = | 130.98 | ÷ | 4.30 | 4.30 | = | 12,427 | ÷ | 2,889,981,334 | |
| Jan 28, 2016 | 49.89 | = | 109.11 | ÷ | 2.19 | 2.19 | = | 6,225 | ÷ | 2,846,280,476 | |
| Jan 29, 2015 | 43.72 | = | 78.00 | ÷ | 1.78 | 1.78 | = | 4,994 | ÷ | 2,799,011,814 | |
| Jan 31, 2014 | 56.90 | = | 62.57 | ÷ | 1.10 | 1.10 | = | 2,804 | ÷ | 2,549,742,787 | |
| Feb 1, 2013 | 131.64 | = | 29.73 | ÷ | 0.23 | 0.23 | = | 538 | ÷ | 2,382,134,094 |
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).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Meta Platforms Inc. Annual Report.
Over the analyzed period, the share price demonstrated a generally strong upward trajectory with notable fluctuations. Beginning at $29.73 in early 2013, the price more than doubled by 2014 and continued to grow substantially, reaching its initial peak at $193.09 in early 2018. Following this, a decline was observed in 2019 to $166.69, before recovering again to $265 by early 2021. Another drop occurred in 2022 and 2023, lowering the price to $188.77. However, the latest data shows a significant rebound, with the share price soaring to $474.99 in 2024 and further increasing to $687 by early 2025. This pattern indicates volatility with overall considerable appreciation in market valuation.
Operating profit per share (OPPS) exhibited a consistent upward trend, reflecting improving profitability over the years. Starting from $0.23 in 2013, OPPS increased steadily each year, reaching $6.95 by 2018 and peaking at $18.34 in early 2024. There is a minor decline in 2023 to $11.16, but the subsequent rise in 2024 and 2025 signifies renewed operational efficiency or growth. The consistent increase in operating profit per share showcases enhanced financial performance and earnings quality.
The Price to Operating Profit (P/OP) ratio reveals noteworthy dynamics between market valuation and profitability. Initially, the ratio was exceptionally high at 131.64 in 2013, suggesting elevated market expectations or overvaluation relative to operating profit. This ratio decreased substantially through 2015 to below 50, then trending downward to a low of 13.84 in early 2022, signaling that the share price became more aligned or potentially undervalued relative to profit. The ratio then rose to 16.91 in 2023 and increased further to around 25 in the most recent years, reflecting growing market optimism or a premium being placed on operational earnings. The fluctuations in this multiple highlight shifting investor sentiment and valuation perspectives over time.
In summary, the data illustrates robust growth in both share price and operating profit per share, despite intermittent corrections and volatility. While early years showed signs of strong optimism with high valuation multiples, a period of relative valuation compression followed, only to be succeeded by renewed market confidence in recent periods. This pattern suggests an evolving market assessment of the company’s profitability and growth potential over the examined timeframe.
Comparison to Competitors
Meta Platforms Inc., P/OP, long-term trends, comparison to competitors
| Meta Platforms Inc. | Alphabet Inc. | Comcast Corp. | Netflix Inc. | Take-Two Interactive Software Inc. | |
|---|---|---|---|---|---|
| Jan 30, 2025 | 25.09 | 0.00 | 5.46 | 39.91 | — |
| Feb 2, 2024 | 25.90 | 20.92 | 7.93 | 35.50 | — |
| Feb 2, 2023 | 16.91 | 18.01 | 12.00 | 28.85 | 30.10 |
| Feb 3, 2022 | 13.84 | 24.86 | 10.89 | 27.71 | 32.96 |
| Jan 28, 2021 | 23.10 | 33.85 | 13.47 | 52.02 | 37.65 |
| Jan 30, 2020 | 24.90 | 29.05 | 9.51 | 57.82 | 56.39 |
| Jan 31, 2019 | 19.10 | 30.27 | 8.71 | 89.46 | 96.07 |
| Feb 1, 2018 | 27.76 | 28.74 | 10.98 | 147.25 | 88.40 |
| Feb 3, 2017 | 30.46 | 23.36 | 10.61 | 161.44 | — |
| Jan 28, 2016 | 49.89 | 24.29 | 9.07 | 132.15 | — |
| Jan 29, 2015 | 43.72 | 21.78 | 10.12 | 66.68 | 4.53 |
| Jan 31, 2014 | 56.90 | 28.56 | 10.62 | 105.92 | 290.04 |
| Feb 1, 2013 | 131.64 | 19.47 | 8.69 | 184.56 | — |
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).