Price to Operating Profit (P/OP)
since 2005
Calculation
Kimberly-Clark Corp., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Operating profit1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 11, 2021 | 13.78 | = | 132.09 | ÷ | 9.59 | 9.59 | = | 3,244 | ÷ | 338,363,924 | |
| Feb 13, 2020 | 16.54 | = | 144.74 | ÷ | 8.75 | 8.75 | = | 2,991 | ÷ | 341,795,666 | |
| Feb 7, 2019 | 17.52 | = | 113.36 | ÷ | 6.47 | 6.47 | = | 2,229 | ÷ | 344,431,630 | |
| Feb 8, 2018 | 11.87 | = | 111.69 | ÷ | 9.41 | 9.41 | = | 3,299 | ÷ | 350,706,285 | |
| Feb 8, 2017 | 13.20 | = | 122.93 | ÷ | 9.31 | 9.31 | = | 3,317 | ÷ | 356,274,872 | |
| Feb 11, 2016 | 28.29 | = | 126.42 | ÷ | 4.47 | 4.47 | = | 1,613 | ÷ | 360,899,707 | |
| Feb 18, 2015 | 16.19 | = | 111.70 | ÷ | 6.90 | 6.90 | = | 2,521 | ÷ | 365,468,649 | |
| Feb 14, 2014 | 13.04 | = | 110.24 | ÷ | 8.46 | 8.46 | = | 3,208 | ÷ | 379,402,894 | |
| Feb 22, 2013 | 13.64 | = | 94.50 | ÷ | 6.93 | 6.93 | = | 2,686 | ÷ | 387,621,860 | |
| Feb 29, 2012 | 11.75 | = | 72.88 | ÷ | 6.20 | 6.20 | = | 2,442 | ÷ | 393,683,636 | |
| Feb 23, 2011 | 9.51 | = | 65.21 | ÷ | 6.86 | 6.86 | = | 2,773 | ÷ | 404,377,352 | |
| Feb 24, 2010 | 8.89 | = | 60.30 | ÷ | 6.79 | 6.79 | = | 2,825 | ÷ | 416,305,736 | |
| Feb 27, 2009 | 7.65 | = | 47.11 | ÷ | 6.15 | 6.15 | = | 2,547 | ÷ | 413,810,555 | |
| Feb 22, 2008 | 10.45 | = | 65.04 | ÷ | 6.23 | 6.23 | = | 2,616 | ÷ | 420,257,274 | |
| Feb 22, 2007 | 15.10 | = | 69.50 | ÷ | 4.60 | 4.60 | = | 2,102 | ÷ | 456,450,272 | |
| Feb 23, 2006 | 11.86 | = | 59.45 | ÷ | 5.01 | 5.01 | = | 2,311 | ÷ | 460,850,735 |
Based on: 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 Kimberly-Clark Corp. Annual Report.
The Price to Operating Profit (P/OP) ratio between 2006 and 2021 exhibits significant volatility, characterized by a general expansion in valuation multiples punctuated by a severe anomaly in 2016. The relationship between market pricing and operational earnings indicates shifts in investor sentiment and periods of operational instability.
- Share Price Trajectory
- A long-term upward trend is evident in the share price, which rose from $59.45 in 2006 to $132.09 by 2021. The most significant contraction occurred in February 2009, with the price dropping to $47.11, while the historical peak was reached in February 2020 at $144.74.
- Operating Profit per Share Performance
- Operating profit per share demonstrated inconsistent growth, starting at $5.01 in 2006 and ending at $9.59 in 2021. A critical decline is observed in 2016, where operating profit per share fell to $4.47, the lowest level recorded in the fifteen-year period, before recovering to $9.31 in 2017.
- P/OP Ratio Analysis
- The P/OP ratio experienced three distinct phases. From 2006 to 2009, the ratio compressed, reaching a period low of 7.65. Between 2010 and 2015, a gradual expansion occurred, with the ratio rising from 8.89 to 16.19. A sharp spike to 28.29 occurred in 2016, which is analytically attributed to the simultaneous increase in share price and a sharp decrease in operating profit per share. From 2017 onward, the ratio stabilized, oscillating between 11.87 and 17.52, suggesting a normalization of the valuation multiple relative to operational performance.
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Comparison to Competitors
Kimberly-Clark Corp., P/OP, long-term trends, comparison to competitors
| Kimberly-Clark Corp. | Procter & Gamble Co. | |
|---|---|---|
| Feb 11, 2021 | 13.78 | 21.01 |
| Feb 13, 2020 | 16.54 | 52.12 |
| Feb 7, 2019 | 17.52 | 15.00 |
| Feb 8, 2018 | 11.87 | 16.71 |
| Feb 8, 2017 | 13.20 | 17.07 |
| Feb 11, 2016 | 28.29 | 17.37 |
| Feb 18, 2015 | 16.19 | 14.34 |
| Feb 14, 2014 | 13.04 | 15.54 |
| Feb 22, 2013 | 13.64 | 13.83 |
| Feb 29, 2012 | 11.75 | 10.16 |
| Feb 23, 2011 | 9.51 | 10.60 |
| Feb 24, 2010 | 8.89 | 9.48 |
| Feb 27, 2009 | 7.65 | 12.61 |
| Feb 22, 2008 | 10.45 | 13.07 |
| Feb 22, 2007 | 15.10 | 14.67 |
| Feb 23, 2006 | 11.86 | 12.53 |
Based on: 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).