Kraft Foods Group Inc. (NASDAQ:KRFT)

The analysis of the annual financial data reveals several notable trends over the three reported periods.

Share Price

The share price exhibited an overall upward trajectory, increasing from $51.66 in March 2013 to $64.17 in February 2015. This represents a growth phase in the company’s market valuation over the two-year span, with a moderate rise between 2013 and 2014 followed by a more pronounced increase by 2015.

Operating Profit Per Share

The operating profit per share showed significant volatility. It rose sharply from $4.50 in March 2013 to a peak of $7.70 in February 2014, indicating improved operational profitability during that period. However, the figure then declined steeply to $3.21 by February 2015, signaling a notable decrease in operational efficiency or margin in the latter period.

Price to Operating Profit Ratio (P/OP)

The P/OP ratio, which measures the valuation of the company's share price relative to its operating profit per share, initially decreased from 11.48 in 2013 to 7.16 in 2014, suggesting that the stock became more attractively priced in relation to operating earnings during that year. However, by 2015, the ratio surged to 19.96, which can be interpreted as the market valuing the shares at a much higher multiple of operating profit. This rise could reflect expectations of future growth despite the recent decline in operating profit per share, or it could suggest an overvaluation risk.

In summary, while the share price showed consistent growth over the examined period, the operating profit per share underwent significant fluctuations, with a peak in 2014 followed by a decline in 2015. The P/OP ratio’s movement indicates changing market sentiment and valuation multiples, with a possible decoupling of share price from current operating profitability by the end of the period.