Price to Operating Profit (P/OP)
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- Income Statement
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Calculation
Halliburton Co., 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 millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 13, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 5, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 13, 2006 | = | ÷ | = | ÷ |
Based on: 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 Halliburton Co. Annual Report.
The analysis of the financial data reveals notable fluctuations in both share price and operating profit per share over the observed periods.
- Share Price Trends
- The share price exhibited considerable volatility, beginning at $34.32 and declining to a low of $17.01 by 2009. Subsequently, there was a recovery phase with the price climbing to a peak of $54.88 in 2017. Following this peak, the share price declined again, reaching $31.40 in 2019. The pattern indicates sensitivity to market conditions and possibly internal company performance factors.
- Operating Profit Per Share (OPPS)
- Operating profit per share showed an overall upward trend from $2.58 in 2006, peaking at $6.00 in 2015. However, after 2015 there was a sharp decline, with negative values recorded in 2016 and 2017 (-$0.19 and -$7.82 respectively), indicating operational challenges. The OPPS partially recovered by 2018 and 2019, reaching $1.56 and $2.83 respectively, but remained below the earlier peak levels.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio varied widely, reflecting changes in both share price and operating profit. Early years showed a range mostly between approximately 7 and 15, with a very low ratio of 3.81 in 2009 coinciding with the lowest share price and a relatively strong OPPS. The ratio data for 2016 and 2017 are missing, likely due to negative OPPS in those years, which would invalidate this ratio. In 2018, the P/OP ratio spiked to 30, likely reflecting a lower OPPS juxtaposed with a relatively high share price, before declining to 11.11 in 2019.
The data suggests a period of growth and profitability leading up to 2015, followed by a phase of operational difficulty as reflected in negative operating profits. The recovery in share price after 2015 may indicate market optimism or other factors beyond operating profit. The volatility in the P/OP ratio underscores the unstable relationship between market valuation and operational earnings during this period.