Price to Operating Profit (P/OP)
since 2005
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3M Co. pages available for free this week:
- Statement of Comprehensive Income
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Book Value (P/BV) since 2005
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Calculation
3M Co., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Operating income1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 9, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 4, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 21, 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 3M Co. Annual Report.
- Share Price Trend
- The share price exhibited significant fluctuations over the analyzed period. Initially, it increased moderately from $73.2 in February 2006 to a peak of $79.95 in February 2008, followed by a sharp decline to $47.42 in February 2009. Subsequently, the price experienced a strong recovery and steady growth, reaching a high of $222.89 in February 2018. Post-2018, the share price showed a downward trend with some volatility, decreasing to $163.64 by February 2022.
- Operating Profit per Share
- The operating profit per share demonstrated a general upward trend throughout the period. Starting at $6.63 in February 2006, it rose steadily with minor fluctuations, peaking at $13.13 in February 2018. After a slight dip to $10.73 in February 2020, it recovered again to $12.9 by February 2022, indicating improved profitability over the long term despite interim declines.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio showed considerable variation, reflecting changes in share price relative to operating profit per share. Early values were relatively low, with a low of 6.31 in February 2009, corresponding to the share price trough during the financial crisis. Thereafter, the ratio increased steadily, peaking at 16.97 in February 2018, suggesting elevated market valuation relative to operating profits. Following this peak, the ratio declined gradually to 12.68 by February 2022, indicating a moderation in market price relative to earnings.
- Overall Insight
- The data indicates that the company’s share price and operating profit per share generally trended upward over the long term, with notable volatility during economic downturns and recoveries. The P/OP ratio's fluctuations imply that market sentiment and valuation multiples varied significantly, especially around 2009 and 2018. The divergence between share price peaks and operating profit growth in later years suggests periods where market valuation outpaced earnings increases, followed by corrections towards more balanced levels.
Comparison to Competitors
3M Co., P/OP, long-term trends, comparison to competitors
| 3M Co. | Boeing Co. | Caterpillar Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|
| Feb 9, 2022 | |||||
| Feb 4, 2021 | |||||
| Feb 6, 2020 | |||||
| Feb 7, 2019 | |||||
| Feb 8, 2018 | |||||
| Feb 9, 2017 | |||||
| Feb 11, 2016 | |||||
| Feb 12, 2015 | |||||
| Feb 13, 2014 | |||||
| Feb 14, 2013 | |||||
| Feb 16, 2012 | |||||
| Feb 16, 2011 | |||||
| Feb 16, 2010 | |||||
| Feb 17, 2009 | |||||
| Feb 15, 2008 | |||||
| Feb 26, 2007 | |||||
| Feb 21, 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).