No, maximizing a firm's profits is not always identical to maximizing the firm's stock market value. A firm's stock market value is determined by the market's perception of the firm's future prospects, which may not be accurately reflected in the firm's current profits. For example, a firm may invest in research and development that will not yield profits in the short-term, but may increase the firm's stock market value in the long-term. Therefore, maximizing a firm's profits may not always be the same as maximizing the firm's stock market value.
