Price to Operating Profit (P/OP)
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Calculation
Illinois Tool Works 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 11, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 24, 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 Illinois Tool Works Inc. Annual Report.
- Share Price
- The share price exhibits a general upward trend over the analyzed period with some fluctuations. Starting from $43.29 in February 2006, it increased steadily with notable gains after 2012, reaching a peak of $217.72 by February 2022. There were minor declines such as in 2008–2009, coinciding with broader economic conditions. Overall, the growth from 2006 to 2022 reflects a nearly fivefold increase in share value.
- Operating Profit Per Share
- Operating profit per share shows variability but an overall upward trajectory. Initially, it rose gradually from $4.02 in 2006 to a peak of $10.92 in 2019. There was a decline noted in 2010 to $2.76 and a significant dip in 2021 to $9.10 from the prior year's $10.67, followed by a recovery to $11.11 in 2022. The data indicates strong profitability improvements over the long term, despite intermittent setbacks.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio fluctuates considerably, reflecting varying market valuation relative to operating profit. It peaked significantly in 2010 at 16.5 and again in 2021 at 22.08 before settling to 19.59 in 2022. Lower ratios appeared around 2009 at 5.93, indicating potential undervaluation or increased operating profit relative to share price. The fluctuating ratio suggests periods of differing investor sentiment or changes in market conditions affecting valuation multiples.
- Overall Interpretation
- The data collectively indicates robust long-term growth in share price and operating earnings per share, with intermittent periods of volatility likely affected by external economic factors. The increasing share price aligns with rising operating profit per share, although the P/OP ratio volatility suggests that market perception and valuation benchmarks changed significantly throughout the period. The most recent years demonstrate strong recovery in operating profit per share and high market valuation, signaling positive investor confidence.
Comparison to Competitors
Illinois Tool Works Inc., P/OP, long-term trends, comparison to competitors
| Illinois Tool Works Inc. | Boeing Co. | Caterpillar Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|
| Feb 11, 2022 | |||||
| Feb 12, 2021 | |||||
| Feb 14, 2020 | |||||
| Feb 15, 2019 | |||||
| Feb 15, 2018 | |||||
| Feb 10, 2017 | |||||
| Feb 12, 2016 | |||||
| Feb 13, 2015 | |||||
| Feb 14, 2014 | |||||
| Feb 19, 2013 | |||||
| Feb 17, 2012 | |||||
| Feb 28, 2011 | |||||
| Feb 26, 2010 | |||||
| Feb 27, 2009 | |||||
| Feb 28, 2008 | |||||
| Feb 26, 2007 | |||||
| Feb 24, 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).