Price to Operating Profit (P/OP)
since 2005
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Steel Dynamics Inc. pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Current Ratio since 2005
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Calculation
Steel Dynamics Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Operating income (loss)1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 28, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2016 | = | ÷ | = | ÷ | |||||||
| Mar 2, 2015 | = | ÷ | = | ÷ | |||||||
| Mar 3, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 9, 2006 | = | ÷ | = | ÷ |
Based on: 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 Steel Dynamics Inc. Annual Report.
- Share Price Trends
- The share price exhibited significant volatility over the analyzed period. Beginning at $11.56 in early 2006, it increased substantially, peaking at $30.23 in early 2008 before a sharp decline to $8.35 in early 2009. Subsequently, there was a gradual recovery, with prices fluctuating between roughly $14 and $18 through 2013 to 2016. Starting in 2017, the share price entered a strong upward trajectory, culminating at $70.58 by early 2022, marking the highest value recorded in the timeframe.
- Operating Profit Per Share (OPPS) Trends
- The operating profit per share demonstrated variability with both growth and decline phases. The values increased from $2.25 in 2006 to a peak of $4.70 in 2009, followed by a notable drop to $0.55 in 2010. A recovery phase ensued, with values fluctuating but generally trending upward, highlighted by a low of -$0.30 in 2016, which reflects a period of loss or operational challenges. The latter years, from 2017 onwards, saw consistent improvement, peaking sharply at $22.48 in early 2022, indicating enhanced operational efficiency or profitability.
- Price to Operating Profit Ratio (P/OP) Analysis
- The P/OP ratio shows significant fluctuations correlating with changes in both share price and operating profit per share. Initially, the ratio increased from 5.13 in 2006 to 8.25 in 2008, suggesting market valuation growing faster than operational profits. A sharp drop to 1.78 in 2009 corresponds with the share price decline and OPPS peak. Subsequent years reveal volatility, with extremely high ratios such as 30.41 in 2010 and 13.62 in 2015, indicating a higher price relative to earnings. After 2016, the ratio remains mostly in the single digits or low teens, with a notable decrease to 3.14 in 2022, reflecting a substantial increase in operating profit per share relative to the share price, potentially signaling undervaluation or strong operational performance.
- Overall Financial Health and Market Valuation Insights
- The data reflect a complex interplay between market sentiment and operational performance. The initial volatility and subsequent recovery phases in both share price and OPPS suggest cyclical influences or external market conditions impacting profitability and valuation. The considerable growth in OPPS and share price toward the end of the period, coupled with a declining P/OP ratio, may indicate materially improved business fundamentals and a favorable market assessment. Periods of high P/OP ratio point to times when the share price may have been optimistic relative to operational earnings, whereas low ratios closer to the end of the timeframe suggest strengthened operational performance underpinning market value.
Comparison to Competitors
Steel Dynamics Inc., P/OP, long-term trends, comparison to competitors
| Steel Dynamics Inc. | Freeport-McMoRan Inc. | |
|---|---|---|
| Feb 28, 2022 | ||
| Mar 1, 2021 | ||
| Feb 27, 2020 | ||
| Feb 27, 2019 | ||
| Feb 27, 2018 | ||
| Feb 28, 2017 | ||
| Feb 26, 2016 | ||
| Mar 2, 2015 | ||
| Mar 3, 2014 | ||
| Feb 27, 2013 | ||
| Feb 27, 2012 | ||
| Feb 23, 2011 | ||
| Feb 22, 2010 | ||
| Feb 27, 2009 | ||
| Feb 27, 2008 | ||
| Feb 26, 2007 | ||
| Mar 9, 2006 |
Based on: 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).