Price to Operating Profit (P/OP)
since 2005
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- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
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Calculation
Becton, Dickinson & 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nov 24, 2021 | = | ÷ | = | ÷ | |||||||
| Nov 25, 2020 | = | ÷ | = | ÷ | |||||||
| Nov 27, 2019 | = | ÷ | = | ÷ | |||||||
| Nov 21, 2018 | = | ÷ | = | ÷ | |||||||
| Nov 22, 2017 | = | ÷ | = | ÷ | |||||||
| Nov 23, 2016 | = | ÷ | = | ÷ | |||||||
| Nov 25, 2015 | = | ÷ | = | ÷ | |||||||
| Nov 26, 2014 | = | ÷ | = | ÷ | |||||||
| Nov 27, 2013 | = | ÷ | = | ÷ | |||||||
| Nov 21, 2012 | = | ÷ | = | ÷ | |||||||
| Nov 23, 2011 | = | ÷ | = | ÷ | |||||||
| Nov 24, 2010 | = | ÷ | = | ÷ | |||||||
| Nov 25, 2009 | = | ÷ | = | ÷ | |||||||
| Nov 26, 2008 | = | ÷ | = | ÷ | |||||||
| Nov 23, 2007 | = | ÷ | = | ÷ | |||||||
| Nov 30, 2006 | = | ÷ | = | ÷ | |||||||
| Dec 9, 2005 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Becton, Dickinson & Co. Annual Report.
- Share Price Trends
- The share price demonstrated a general upward trend over the examined period from 2005 to 2021. Starting at $58.13 in December 2005, the price increased steadily with occasional fluctuations, reaching $244.46 by November 2021. Notable increases occurred between 2012 and 2014, where the price rose from approximately $76.82 to $141.26, and continued on an upward trajectory until peaking at $260.40 in 2019. A slight decline was observed in 2020, followed by a recovery in 2021.
- Operating Profit Per Share (OPPS) Analysis
- Operating profit per share exhibited variability throughout the period. Beginning at $4.09 in 2005, it generally trended upwards, peaking at $8.21 in 2011. However, subsequent years showed fluctuations, including declines in 2013 and 2015 with values of $6.46 and $5.10 respectively. After 2015, OPPS stabilized between $5.10 and $6.74 until 2020, after which a notable increase occurred in 2021, reaching the highest value of $9.85 in the dataset.
- Price-to-Operating Profit Ratio (P/OP)
- The P/OP ratio showed significant volatility. Initially, it ranged from approximately 14.21 in 2005 to a low of 8.62 in 2011, indicating relatively lower share price multiples compared to operating profit. Post-2011, the ratio increased sharply, peaking at an unusually high 44.46 in 2020, signaling elevated share price relative to operating profit or a decrease in operating profit per share. The ratio then declined to 24.81 in 2021, suggesting some correction or improvement in operating profit relative to share price during the last year analyzed.
- Overall Observations
- Overall, the share price increased markedly over the considered period, reflecting positive valuation trends despite operational profit fluctuations. Operating profit per share exhibited cyclical behavior with periods of growth and decline, but ultimately showed a strong recovery by 2021. The P/OP ratio’s increase after 2011 indicated increasing market valuation multiples which may reflect external market conditions, investor expectations, or temporary profit variances. The sharp rise in the ratio in 2020 followed by a decrease in 2021 could be indicative of volatility during that period.
Comparison to Competitors
Becton, Dickinson & Co., P/OP, long-term trends, comparison to competitors
| Becton, Dickinson & Co. | Abbott Laboratories | CVS Health Corp. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Nov 24, 2021 | ||||||
| Nov 25, 2020 | ||||||
| Nov 27, 2019 | ||||||
| Nov 21, 2018 | ||||||
| Nov 22, 2017 | ||||||
| Nov 23, 2016 | ||||||
| Nov 25, 2015 | ||||||
| Nov 26, 2014 | ||||||
| Nov 27, 2013 | ||||||
| Nov 21, 2012 | ||||||
| Nov 23, 2011 | ||||||
| Nov 24, 2010 | ||||||
| Nov 25, 2009 | ||||||
| Nov 26, 2008 | ||||||
| Nov 23, 2007 | ||||||
| Nov 30, 2006 | ||||||
| Dec 9, 2005 |
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).