Price to Operating Profit (P/OP)
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Calculation
Stryker Corp., 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 11, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 7, 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 Stryker Corp. Annual Report.
- Share Price Trends
- The share price demonstrated notable volatility over the period analyzed. It initially increased from $45.81 in 2006 to peak at $66.04 in 2008 before experiencing a significant decline to $40.03 in early 2009. Subsequently, the price entered a sustained growth phase, with some fluctuations, rising steadily from 2010 onward. The price reached $251.65 by early 2022, indicating substantial appreciation overall despite intermittent dips, particularly around 2014 and a brief decline following a peak in 2021.
- Operating Profit Per Share (OPPS) Trends
- Operating profit per share exhibited a generally positive growth trajectory. Starting at $2.46 in 2006, it rose steadily, reaching a peak of $4.58 in 2013 after steady increments. A sharp decline occurred in 2014 and 2015, with values around $3.29-$3.32, followed by a strong recovery and further growth to $7.24 in 2020. Although there was a moderate decrease to $5.91 in 2021, profit per share rebounded to $6.84 by 2022, confirming overall growth in operational profitability across the assessed years.
- Price to Operating Profit (P/OP) Ratio Trends
- The P/OP ratio fluctuated considerably through the period, reflecting changing market valuations relative to operating profit. Initially, it increased from 18.61 in 2006 to a high of 23.58 in 2007, then dropped sharply to 10.45 in 2009 amidst reduced share price levels. After some volatility and an upward trend, the ratio climbed to 41.52 in 2021, representing higher valuation multiples, before falling slightly to 36.77 in 2022. This pattern suggests investor confidence with periods of heightened optimism, especially in the last decade, though potentially indicating an increased premium on earnings.
- Overall Insights
- The company displayed strong underlying operational earnings growth, as evidenced by rising operating profit per share despite certain intermittent setbacks. Share price growth trended upward significantly in the long term, aligning with improved profitability but showing sensitivity to market conditions. The elevated and fluctuating P/OP ratio in later years implies variable market sentiment and possibly higher expectations for future earnings growth. The most recent years indicate a premium valuation environment accompanied by stable, elevated operating profits.
Comparison to Competitors
Stryker Corp., P/OP, long-term trends, comparison to competitors
| Stryker Corp. | Abbott Laboratories | CVS Health Corp. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Feb 11, 2022 | ||||||
| Feb 11, 2021 | ||||||
| Feb 6, 2020 | ||||||
| Feb 7, 2019 | ||||||
| Feb 8, 2018 | ||||||
| Feb 9, 2017 | ||||||
| Feb 11, 2016 | ||||||
| Feb 12, 2015 | ||||||
| Feb 13, 2014 | ||||||
| Feb 27, 2013 | ||||||
| Feb 13, 2012 | ||||||
| Feb 18, 2011 | ||||||
| Feb 26, 2010 | ||||||
| Feb 20, 2009 | ||||||
| Feb 28, 2008 | ||||||
| Feb 28, 2007 | ||||||
| Mar 7, 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).