Price to Operating Profit (P/OP)
since 2011
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Marathon Petroleum Corp. pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2011
- Analysis of Debt
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Calculation
Marathon Petroleum Corp., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Income (loss) from operations1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 28, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2012 | = | ÷ | = | ÷ |
Based on: 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).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Marathon Petroleum Corp. Annual Report.
The financial data reveals several important trends concerning the company's share price, operating profit per share, and the price-to-operating profit (P/OP) ratio over the period from 2012 to 2024.
- Share Price
- The share price demonstrated a general upward trajectory over the analyzed period. Starting at $20.78 in early 2012, it approximately doubled by 2013 to $41.44 and showed moderate fluctuations in the following years. Notably, the price peaked significantly from 2021 onwards, rising sharply from $74.46 in 2022 to $125.52 in 2023 and reaching $167.16 by 2024. This indicates strong investor confidence and possibly improved market perceptions or underlying business conditions during the recent years.
- Operating Profit Per Share
- Operating profit per share exhibited variability throughout the years. Initial levels around $5.39 in 2012 increased to a peak of $8.87 in 2016 before experiencing a considerable decline to $4.51 in 2017. After recovery and moderate increases, a sharp negative value of -$18.8 was recorded in 2021, suggesting a significant operational loss or unusual event affecting profitability in that year. Subsequent years show a strong rebound with operating profit per share reaching $48.19 in 2023 and $40.17 in 2024, reflecting substantial operational improvements or extraordinary gains during this timeframe.
- P/OP Ratio
- The P/OP ratio generally fluctuated, reflecting changes in share price relative to operating profit per share. Early ratios ranged from 3.86 to 7.22 between 2012 and 2014, followed by higher volatility in subsequent years. A notable spike to 11.1 was observed in 2017, coinciding with lower operating profit per share, indicating elevated share price valuation relative to operating profits. The absence of a P/OP value in 2021 is consistent with the negative operating profit per share in that year, as ratio calculations are not meaningful when profits are negative. Post-2021, the P/OP ratio declined sharply to 2.6 in 2023 and rose slightly to 4.16 in 2024, aligning with the recovery in operating profits and continued increase in share price.
In summary, the data depicts a company experiencing varying operational performance with a significant downturn in 2021, followed by a robust recovery. The share price has trended positively over the long term, especially pronounced after 2021, signaling strong market confidence potentially driven by improved financial results and growth prospects.