Price to Operating Profit (P/OP)
since 2015
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Debt to Equity since 2015
- Price to Earnings (P/E) since 2015
- Price to Book Value (P/BV) since 2015
- Analysis of Debt
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Calculation
Hewlett Packard Enterprise Co., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Earnings (loss) from operations1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 22, 2023 | = | ÷ | = | ÷ | |||||||
| Dec 8, 2022 | = | ÷ | = | ÷ | |||||||
| Dec 10, 2021 | = | ÷ | = | ÷ | |||||||
| Dec 10, 2020 | = | ÷ | = | ÷ | |||||||
| Dec 13, 2019 | = | ÷ | = | ÷ | |||||||
| Dec 12, 2018 | = | ÷ | = | ÷ | |||||||
| Dec 15, 2017 | = | ÷ | = | ÷ | |||||||
| Dec 15, 2016 | = | ÷ | = | ÷ | |||||||
| Dec 17, 2015 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31), 10-K (reporting date: 2018-10-31), 10-K (reporting date: 2017-10-31), 10-K (reporting date: 2016-10-31), 10-K (reporting date: 2015-10-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Hewlett Packard Enterprise Co. Annual Report.
- Share Price Trend
- The share price exhibited significant fluctuations over the observed period. Starting at $14.31 at the end of 2015, it increased sharply to $23.73 by the end of 2016, followed by a notable decline to $14.41 in 2017. The price then remained relatively stable between $14 and $16 through 2019, before experiencing a drop to $12.12 in 2020. Subsequent years showed a gradual recovery, reaching $17.09 by the end of 2023.
- Operating Profit per Share (OPPS) Analysis
- Operating profit per share demonstrated considerable volatility. It peaked at $2.49 in 2016, then plunged to $0.39 in 2017, reflecting sharp operational fluctuations. Recovery attempts were observed in 2018 and 2019 with values of $1.33 and $0.99 respectively. In 2020, OPPS turned negative at -$0.25, indicating operational challenges or losses during that year. The metric rebounded in the following years to $0.88 and $0.61 in 2021 and 2022, before rising further to $1.61 in 2023.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio mirrored the volatility seen in OPPS and share price. Beginning at 16.37 in 2015, it improved to 9.52 in 2016 in line with high operating profit and share price. A significant spike to 36.75 happened in 2017, likely due to a drastic reduction in operating profit. The ratio stabilized around the mid-teens in 2018 and 2019, was not reported in 2020 (possibly due to negative OPPS), then increased to 17.38 in 2021 and reached a high of 26.7 in 2022, before declining to 10.64 in 2023. The elevated P/OP ratios in 2017 and 2022 suggest periods of relatively high market valuation compared to operational returns.
- Summary Insights
- Overall, the company showed an inconsistent operating profit trajectory, with marked dips especially in 2017 and 2020. Share price movements broadly tracked these operational variations but with less extreme swings. The P/OP ratio’s fluctuations reflect changing market sentiment relative to operational performance, with particular overvaluation indicated during years of low or negative operating profit per share. The recovery in operating profit and the simultaneous decrease in P/OP ratio in 2023 suggest improving operational efficiency and a more balanced market valuation at the end of the period analyzed.
Comparison to Competitors
Hewlett Packard Enterprise Co., P/OP, long-term trends, comparison to competitors
| Hewlett Packard Enterprise Co. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Dec 22, 2023 | ||||||
| Dec 8, 2022 | ||||||
| Dec 10, 2021 | ||||||
| Dec 10, 2020 | ||||||
| Dec 13, 2019 | ||||||
| Dec 12, 2018 | ||||||
| Dec 15, 2017 | ||||||
| Dec 15, 2016 | ||||||
| Dec 17, 2015 |
Based on: 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-10-31), 10-K (reporting date: 2018-10-31), 10-K (reporting date: 2017-10-31), 10-K (reporting date: 2016-10-31), 10-K (reporting date: 2015-10-31).