Price to Operating Profit (P/OP)
since 2005
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Lockheed Martin Corp. pages available for free this week:
- Income Statement
- Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Calculation
Lockheed Martin 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 28, 2025 | = | ÷ | = | ÷ | |||||||
| Jan 23, 2024 | = | ÷ | = | ÷ | |||||||
| Jan 26, 2023 | = | ÷ | = | ÷ | |||||||
| Jan 25, 2022 | = | ÷ | = | ÷ | |||||||
| Jan 28, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2024-12-31), 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 Lockheed Martin Corp. Annual Report.
- Share Price Trend
- The share price exhibited notable volatility over the observed period. Starting at $72.87 in February 2006, it rose significantly to a peak of $105.16 in February 2008 before declining sharply to $68.93 by February 2009. A steady increase followed, with a pronounced upward surge beginning in 2013, reaching a high of $439.17 in February 2020. Subsequent years showed fluctuations, including a decline to $327.93 in January 2021, then a recovery and further growth reaching $459.81 by January 2024, with a slight dip to $439.67 in early 2025.
- Operating Profit Per Share (OPPS) Trend
- The operating profit per share demonstrated consistent growth from $6.83 in February 2006 to a peak of $35.2 in January 2024. This growth trajectory was generally steady, with minor stagnations or decreases around 2010 and a slight decline in 2025 to $29.79. The most substantial increases occurred post-2014, indicating improved operating efficiency or profitability over the latter years.
- Price-to-Operating Profit (P/OP) Ratio Analysis
- The P/OP ratio generally fluctuated throughout the period, reflecting changing market valuations relative to operating profit per share. Early years saw relatively low ratios, with a marked dip to 5.31 in 2009, suggesting undervaluation or increased profitability. Post-2010, the ratio increased, peaking at 16.47 in February 2018, indicating higher market valuation relative to operating profits. The ratio declined again afterward but remained elevated compared to the first half of the data period, ending at 15.35 in 2025.
- Overall Insights
- The data indicates that operating profitability improved steadily, supporting long-term growth in share price despite some periods of volatility. The variations in the P/OP ratio suggest shifts in investor sentiment or market conditions affecting valuation multiples. The share price movements, in conjunction with rising operating profit per share, imply generally positive market confidence tempered by intermittent corrections. The peak valuation periods likely correspond to heightened investor optimism, while lower ratios may reflect market adjustments or increased profitability levels making shares appear undervalued.
Comparison to Competitors
Lockheed Martin Corp., P/OP, long-term trends, comparison to competitors
| Lockheed Martin Corp. | Boeing Co. | Caterpillar Inc. | RTX Corp. | |
|---|---|---|---|---|
| Jan 28, 2025 | ||||
| Jan 23, 2024 | ||||
| Jan 26, 2023 | ||||
| Jan 25, 2022 | ||||
| Jan 28, 2021 | ||||
| Feb 7, 2020 | ||||
| Feb 8, 2019 | ||||
| Feb 6, 2018 | ||||
| Feb 9, 2017 | ||||
| Feb 24, 2016 | ||||
| Feb 9, 2015 | ||||
| Feb 14, 2014 | ||||
| Feb 28, 2013 | ||||
| Feb 23, 2012 | ||||
| Feb 25, 2011 | ||||
| Feb 25, 2010 | ||||
| Feb 26, 2009 | ||||
| Feb 28, 2008 | ||||
| Feb 26, 2007 | ||||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2024-12-31), 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).