Price to Operating Profit (P/OP)
since 2005
Calculation
Sysco 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 28, 2024 | 11.77 | = | 76.67 | ÷ | 6.51 | 6.51 | = | 3,202 | ÷ | 491,520,584 | |
| Aug 25, 2023 | 11.59 | = | 69.76 | ÷ | 6.02 | 6.02 | = | 3,039 | ÷ | 504,925,847 | |
| Aug 26, 2022 | 18.10 | = | 83.63 | ÷ | 4.62 | 4.62 | = | 2,339 | ÷ | 506,110,343 | |
| Aug 30, 2021 | 28.14 | = | 78.99 | ÷ | 2.81 | 2.81 | = | 1,437 | ÷ | 512,081,796 | |
| Aug 26, 2020 | 39.01 | = | 57.50 | ÷ | 1.47 | 1.47 | = | 750 | ÷ | 508,535,623 | |
| Aug 26, 2019 | 16.15 | = | 73.35 | ÷ | 4.54 | 4.54 | = | 2,330 | ÷ | 513,176,946 | |
| Aug 27, 2018 | 16.64 | = | 74.54 | ÷ | 4.48 | 4.48 | = | 2,329 | ÷ | 519,774,992 | |
| Aug 30, 2017 | 13.55 | = | 52.71 | ÷ | 3.89 | 3.89 | = | 2,053 | ÷ | 527,881,766 | |
| Aug 30, 2016 | 15.58 | = | 51.93 | ÷ | 3.33 | 3.33 | = | 1,851 | ÷ | 555,133,162 | |
| Aug 25, 2015 | 18.89 | = | 39.04 | ÷ | 2.07 | 2.07 | = | 1,229 | ÷ | 594,917,977 | |
| Aug 26, 2014 | 13.96 | = | 37.77 | ÷ | 2.70 | 2.70 | = | 1,587 | ÷ | 586,765,938 | |
| Aug 27, 2013 | 11.26 | = | 31.74 | ÷ | 2.82 | 2.82 | = | 1,658 | ÷ | 588,347,435 | |
| Aug 28, 2012 | 9.45 | = | 30.45 | ÷ | 3.22 | 3.22 | = | 1,891 | ÷ | 586,604,951 | |
| Aug 30, 2011 | 8.54 | = | 27.84 | ÷ | 3.26 | 3.26 | = | 1,932 | ÷ | 592,697,484 | |
| Aug 31, 2010 | 8.19 | = | 27.49 | ÷ | 3.36 | 3.36 | = | 1,976 | ÷ | 588,379,521 | |
| Aug 25, 2009 | 8.00 | = | 25.33 | ÷ | 3.17 | 3.17 | = | 1,872 | ÷ | 591,015,830 | |
| Aug 26, 2008 | 10.12 | = | 31.60 | ÷ | 3.12 | 3.12 | = | 1,880 | ÷ | 601,993,798 | |
| Aug 28, 2007 | 11.69 | = | 32.74 | ÷ | 2.80 | 2.80 | = | 1,708 | ÷ | 609,972,298 | |
| Sep 14, 2006 | 13.83 | = | 33.37 | ÷ | 2.41 | 2.41 | = | 1,495 | ÷ | 619,613,777 | |
| Sep 15, 2005 | — | = | 32.17 | ÷ | 0.00 | 0.00 | = | 0 | ÷ | 626,984,757 |
Based on: 10-K (reporting date: 2024-06-29), 10-K (reporting date: 2023-07-01), 10-K (reporting date: 2022-07-02), 10-K (reporting date: 2021-07-03), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27), 10-K (reporting date: 2014-06-28), 10-K (reporting date: 2013-06-29), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-07-02), 10-K (reporting date: 2010-07-03), 10-K (reporting date: 2009-06-27), 10-K (reporting date: 2008-06-28), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-07-01), 10-K (reporting date: 2005-07-02).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Sysco Corp. Annual Report.
- Share Price Trend
- The share price exhibits a general upward trend over the analyzed period from 2005 to 2024. Starting at $32.17 in 2005, it experienced minor fluctuations in the initial years, declining to a low of $25.33 in 2009. Thereafter, the share price demonstrated consistent growth, reaching a peak of $83.63 in 2022. There is a slight decline observed in 2023 to $69.76, followed by a recovery to $76.67 in 2024.
- Operating Profit per Share (OP)
- The operating profit per share shows a generally upward trajectory over the period with some volatility. From a value of $2.41 in 2006, OP increased steadily to $4.54 by 2019. A significant decline occurred in 2020, falling sharply to $1.47, likely reflecting an extraordinary event or disruption. Following this drop, OP rebounded progressively to reach $6.51 in 2024, surpassing previous peak levels.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio displays notable variability during the period studied. Initially, it declined from 13.83 in 2006 to a low of 8 in 2009, suggesting improving valuation relative to operating profits. However, from 2009 onward, the ratio showed a rising trend with fluctuations, peaking dramatically at 39.01 in 2020. This spike corresponds with the sharp decrease in operating profit per share noted in the same year, indicating that share price remained relatively high despite lower profits. Subsequent years saw a decline in the P/OP ratio to around 11.77 in 2024, reflecting a normalization where operating profits increased while the share price adjusted moderately.
- General Insights
- The overall data suggests that the company experienced steady operational growth reflected in increasing operating profits per share over most of the period. Share price appreciation was consistent with these improvements but included periods of volatility likely influenced by external factors or market conditions. The significant drop in operating profit per share during 2020, coupled with a spike in the price-to-operating-profit ratio, indicates a temporary disruption impacting profitability but not immediately reflected in valuation. Recovery in subsequent years is evident both in profitability and valuation metrics.
Comparison to Competitors
Sysco Corp., P/OP, long-term trends, comparison to competitors
| Sysco Corp. | Costco Wholesale Corp. | Target Corp. | Walmart Inc. | |
|---|---|---|---|---|
| Aug 28, 2024 | 11.77 | 43.38 | 13.48 | 18.10 |
| Aug 25, 2023 | 11.59 | 30.86 | 19.56 | 18.40 |
| Aug 26, 2022 | 18.10 | 27.28 | 11.17 | 15.43 |
| Aug 30, 2021 | 28.14 | 29.60 | 13.62 | 16.46 |
| Aug 26, 2020 | 39.01 | 29.47 | 11.35 | 15.69 |
| Aug 26, 2019 | 16.15 | 27.62 | 9.69 | 12.70 |
| Aug 27, 2018 | 16.64 | 21.34 | 8.83 | 12.85 |
| Aug 30, 2017 | 13.55 | 16.75 | 6.12 | 9.61 |
| Aug 30, 2016 | 15.58 | 17.91 | 8.88 | 8.97 |
| Aug 25, 2015 | 18.89 | 18.09 | 11.20 | 9.59 |
| Aug 26, 2014 | 13.96 | 16.90 | 8.89 | 9.15 |
| Aug 27, 2013 | 11.26 | 16.80 | 8.18 | 8.85 |
| Aug 28, 2012 | 9.45 | 14.86 | 7.38 | 7.83 |
| Aug 30, 2011 | 8.54 | 14.53 | 6.80 | 7.16 |
| Aug 31, 2010 | 8.19 | 13.16 | 8.40 | 8.78 |
| Aug 25, 2009 | 8.00 | 14.35 | 5.12 | 9.07 |
| Aug 26, 2008 | 10.12 | 12.67 | 7.80 | 9.47 |
| Aug 28, 2007 | 11.69 | 17.49 | 10.09 | 9.56 |
| Sep 14, 2006 | 13.83 | 15.05 | 10.40 | 10.81 |
| Sep 15, 2005 | — | 16.03 | 12.23 | 12.41 |
Based on: 10-K (reporting date: 2024-06-29), 10-K (reporting date: 2023-07-01), 10-K (reporting date: 2022-07-02), 10-K (reporting date: 2021-07-03), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27), 10-K (reporting date: 2014-06-28), 10-K (reporting date: 2013-06-29), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-07-02), 10-K (reporting date: 2010-07-03), 10-K (reporting date: 2009-06-27), 10-K (reporting date: 2008-06-28), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-07-01), 10-K (reporting date: 2005-07-02).