Price to Operating Profit (P/OP)
since 2005
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- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Aggregate Accruals
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Calculation
ONEOK Inc., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Operating income1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 28, 2023 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 13, 2006 | = | ÷ | = | ÷ |
Based on: 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 ONEOK Inc. Annual Report.
- Share Price Trend
- The share price demonstrates significant volatility over the analyzed period. Initially, it rose from $14.71 in March 2006 to a peak of $44.34 in February 2013, reflecting a period of sustained growth. Subsequent years show fluctuations, with a marked dip to $21.31 in February 2016, followed by recovery and new highs reaching $73.61 in February 2020. Afterward, the price experienced a decline to $45.62 in February 2021, but it recovered again, ending at $65.45 in February 2023. Overall, the share price trend indicates cyclical behavior with notable recoveries after downturns.
- Operating Profit Per Share (OPPS)
- The operating profit per share displays a general upward trajectory with moderate fluctuations. Starting at $3.41 in 2006, it grew steadily, reaching its highest value of $6.28 in February 2023. Notable dips are observed around February 2018 ($3.36) and February 2021 ($3.06), which coincide with broader market and company-specific challenges. Despite these setbacks, the OPPS recovers, indicating resilience and growth in operational profitability over the long term.
- Price-to-Operating Profit (P/OP) Ratio
- The P/OP ratio exhibits substantial variability, ranging from a low of 2.63 in February 2009 to a peak of 16.95 in February 2018. Initially, the ratio rises from 4.32 in 2006 to over 7 by 2012, suggesting an increasing premium on earnings. A sharp fluctuation occurs in the following years, with elevated ratios above 10 from 2014 onward, reflecting higher share prices relative to operating profit per share or possibly market expectations of future growth. However, the ratio remains volatile and does not present a consistent trend, indicating varying investor sentiment and valuation dynamics at different points in time.
- Relationship and Insights
- The data suggests that while operating profit per share generally trends upward, the share price has experienced more pronounced volatility. The P/OP ratio’s peaks tend to coincide with either temporary drops in operating profit or spikes in share price, implying periods of either investor optimism or cautious valuation. The sharp declines in share price, particularly in 2016 and 2021, correspond to drops in OPPS, suggesting that operational challenges impact market valuation. The recovery in both measures post-downturns highlights overall corporate resilience. Investors may need to consider the oscillating nature of market valuation relative to operating performance when making assessments about the company’s stock.