Price to Operating Profit (P/OP)
since 2005
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Altria Group Inc. pages available for free this week:
- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
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Calculation
Altria Group Inc., 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 27, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 10, 2006 | = | ÷ | = | ÷ |
Based on: 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), 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 Altria Group Inc. Annual Report.
- Share Price Trends
- Over the observed period, the share price exhibited significant volatility. Initially, the share price increased from $73.86 in March 2006 to a peak of $84.34 in March 2007. This was followed by a decline to $73.78 in February 2008 and then a sharp drop to $15.44 in February 2009, indicating a period of considerable market stress or negative investor sentiment. Subsequently, there was a gradual recovery with the share price climbing steadily to $74.59 by February 2017. However, from 2017 onwards, the price displayed a downward trend with fluctuations, declining to $40.90 by February 2024. Overall, the share price showed an initial increase, a significant dip during the 2008-2009 period, a recovery phase, and a recent decline.
- Operating Profit Per Share (OPPS) Trends
- Operating profit per share started at $7.95 in 2006 and showed a general downward trend until 2009, falling to $2.36. After 2009, the OPPS began to recover gradually, with a steady increase reaching a high of $6.68 in 2023. The values from 2010 onwards indicate consistent improvement in operating profitability per share, suggesting enhanced operational efficiency or margin recovery despite earlier declines. The recent slight decrease to $6.55 in 2024 indicates a minor dip after years of growth.
- Price-to-Operating Profit Ratio (P/OP) Trends
- The price-to-operating profit ratio demonstrates considerable fluctuation aligned with changes in share price and operating profits. Initially, the ratio rose from 9.29 in 2006 to 11.75 in 2008, then sharply dropped to 6.53 in 2009, mirroring the decline in share price relative to earnings. Between 2010 and 2017, the ratio increased significantly, peaking at 16.51 in 2017, signaling that the share price was relatively high compared to operating profits during that period. After 2017, the ratio declined steadily to 6.25 by 2024. This downward trend in the ratio suggests that either share price fell faster than operating profit or operating profits improved relative to the share price in recent years.
- Overall Insights
- The data reveals periods of substantial financial stress, particularly around 2008-2009, marked by a sharp decline in share price and operating profit per share. Post-2009, the company exhibited a recovery in operational performance, as reflected by the gradual increase in operating profit per share. Despite this recovery in profitability, the share price trends indicate volatility, with a notable decline in recent years. The fluctuations in the price-to-operating profit ratio suggest changing market valuations, possibly influenced by external market conditions or investor expectations. Recent years show improved operating profitability with a declining valuation multiple, indicative of potentially more conservative market perceptions or sector challenges.
Comparison to Competitors
Altria Group Inc., P/OP, long-term trends, comparison to competitors
| Altria Group Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Feb 27, 2024 | |||||
| Feb 27, 2023 | |||||
| Feb 25, 2022 | |||||
| Feb 26, 2021 | |||||
| Feb 25, 2020 | |||||
| Feb 26, 2019 | |||||
| Feb 27, 2018 | |||||
| Feb 27, 2017 | |||||
| Feb 25, 2016 | |||||
| Feb 25, 2015 | |||||
| Feb 26, 2014 | |||||
| Feb 27, 2013 | |||||
| Feb 16, 2012 | |||||
| Feb 25, 2011 | |||||
| Feb 24, 2010 | |||||
| Feb 27, 2009 | |||||
| Feb 28, 2008 | |||||
| Mar 1, 2007 | |||||
| Mar 10, 2006 |
Based on: 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), 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).