Price to Operating Profit (P/OP)
since 2005
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Microchip Technology Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Price to Book Value (P/BV) since 2005
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Calculation
Microchip Technology Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Operating income1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| May 20, 2022 | = | ÷ | = | ÷ | |||||||
| May 18, 2021 | = | ÷ | = | ÷ | |||||||
| May 22, 2020 | = | ÷ | = | ÷ | |||||||
| May 30, 2019 | = | ÷ | = | ÷ | |||||||
| May 18, 2018 | = | ÷ | = | ÷ | |||||||
| May 30, 2017 | = | ÷ | = | ÷ | |||||||
| May 24, 2016 | = | ÷ | = | ÷ | |||||||
| May 27, 2015 | = | ÷ | = | ÷ | |||||||
| May 30, 2014 | = | ÷ | = | ÷ | |||||||
| May 30, 2013 | = | ÷ | = | ÷ | |||||||
| May 30, 2012 | = | ÷ | = | ÷ | |||||||
| May 31, 2011 | = | ÷ | = | ÷ | |||||||
| Jun 2, 2010 | = | ÷ | = | ÷ | |||||||
| May 29, 2009 | = | ÷ | = | ÷ | |||||||
| May 28, 2008 | = | ÷ | = | ÷ | |||||||
| May 25, 2007 | = | ÷ | = | ÷ | |||||||
| May 31, 2006 | = | ÷ | = | ÷ | |||||||
| May 23, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Microchip Technology Inc. Annual Report.
- Share Price Trend
- The share price of the company exhibited fluctuations over the analyzed period. From 2005 to 2007, there was a gradual increase from $14.98 to $19.61. A decline occurred in 2009, reaching a low of $10.79, followed by a recovery period with notable peaks around 2014 to 2018, reaching as high as $46.40. The price peaked notably at $71.22 in 2021 before slightly decreasing to $66.67 in 2022.
- Operating Profit Per Share (OPPS) Trend
- Operating profit per share generally showed an upward trajectory over the years, despite some intermittent drops. Starting at $0.62 in 2005, OPPS rose to $1.24 by 2011, however, it experienced volatility between 2012 and 2017, with values declining to as low as $0.45 in 2013. From 2018 onwards, there was a marked increase, reaching $3.34 in 2022, indicating improved operational efficiency or profitability on a per-share basis.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio highlighted varying market perceptions relative to operating profit. Early years from 2005 to 2008 maintained ratios approximately between 22 and 25, suggesting stable valuation multiples. A significant volatility phase occurred between 2009 and 2017, with the ratio spiking to a peak of 68.63 in 2017. This spike denotes either heightened market optimism or depressed operating profits relative to share price. Post-2017, the ratio declined but remained elevated, fluctuating near 20 to 40, reflecting increased share price relative to operating profit or market uncertainty influencing valuation.
- Insights and Interpretations
- The share price and operating profit per share generally trend upward, especially post-2017, suggesting overall growth and improving profitability. However, the P/OP ratio shows periods of high volatility, pointing to inconsistent investor valuation relative to operational performance. The peak P/OP in 2017 indicates a period of potential overvaluation or suppressed earnings, subsequently followed by market correction. The rising operating profit per share in recent years, combined with a share price peak in 2021, may imply a favorable market position with improved earnings. The slight decline in share price in 2022 amid rising operating profit suggests cautious market sentiment or external factors influencing valuation.
Comparison to Competitors
Microchip Technology Inc., P/OP, long-term trends, comparison to competitors
| Microchip Technology Inc. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | Lam Research Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| May 20, 2022 | |||||||||||
| May 18, 2021 | |||||||||||
| May 22, 2020 | |||||||||||
| May 30, 2019 | |||||||||||
| May 18, 2018 | |||||||||||
| May 30, 2017 | |||||||||||
| May 24, 2016 | |||||||||||
| May 27, 2015 | |||||||||||
| May 30, 2014 | |||||||||||
| May 30, 2013 | |||||||||||
| May 30, 2012 | |||||||||||
| May 31, 2011 | |||||||||||
| Jun 2, 2010 | |||||||||||
| May 29, 2009 | |||||||||||
| May 28, 2008 | |||||||||||
| May 25, 2007 | |||||||||||
| May 31, 2006 | |||||||||||
| May 23, 2005 |
Based on: 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-03-31), 10-K (reporting date: 2008-03-31), 10-K (reporting date: 2007-03-31), 10-K (reporting date: 2006-03-31), 10-K (reporting date: 2005-03-31).