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ARDS (Aridis Pharmaceuticals) Owner Earnings per Share (TTM) : 0.00 (As of Sep. 2023)


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What is Aridis Pharmaceuticals Owner Earnings per Share (TTM)?

In 1986 Berkshire Hathaway Shareholder Letter, Warren Buffett defined owner earnings as follows:

"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."

Aridis Pharmaceuticals's Owner Earnings per Share (TTM) ended in Sep. 2023 was $0.00. It's Price-to-Owner-Earnings ratio for today is 0.


The historical rank and industry rank for Aridis Pharmaceuticals's Owner Earnings per Share (TTM) or its related term are showing as below:



ARDS's Price-to-Owner-Earnings is not ranked *
in the Biotechnology industry.
Industry Median: 36.35
* Ranked among companies with meaningful Price-to-Owner-Earnings only.

Aridis Pharmaceuticals's Earnings per Share (Diluted) for the three months ended in Sep. 2023 was $-0.00. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2023 was $-0.16. It's PE Ratio (TTM) ratio for today is At Loss.

Aridis Pharmaceuticals's EPS without NRI for the three months ended in Sep. 2023 was $-0.00. Its EPS without NRI for the trailing twelve months (TTM) ended in Sep. 2023 was $-0.16. It's PE Ratio without NRI ratio for today is At Loss.


Aridis Pharmaceuticals Owner Earnings per Share (TTM) Historical Data

The historical data trend for Aridis Pharmaceuticals's Owner Earnings per Share (TTM) can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Aridis Pharmaceuticals Owner Earnings per Share (TTM) Chart

Aridis Pharmaceuticals Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Owner Earnings per Share (TTM)
Get a 7-Day Free Trial - - - -2.08 -1.44

Aridis Pharmaceuticals Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
Owner Earnings per Share (TTM) Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.59 -1.44 -0.84 -0.63 -0.52

Competitive Comparison of Aridis Pharmaceuticals's Owner Earnings per Share (TTM)

For the Biotechnology subindustry, Aridis Pharmaceuticals's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Aridis Pharmaceuticals's Price-to-Owner-Earnings Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Aridis Pharmaceuticals's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where Aridis Pharmaceuticals's Price-to-Owner-Earnings falls into.



Aridis Pharmaceuticals Owner Earnings per Share (TTM) Calculation

In 1986 Berkshire Hathaway Shareholder Letter, Warren Buffett defined owner earnings as follows:

"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."

To make it simple, then you will have:

Owner Earnings per Share (TTM) = (Net Income + Depreciation, Depletion and Amortization + Change In Deferred Tax - 5Y Average of Maintenance Capital Expenditure + Change In Working Capital) / Shares Outstanding (Diluted Average)

Aridis Pharmaceuticals's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income -1.14
Depreciation, Depletion and Amortization 0.31
Change In Deferred Tax 0.00
5Y Average of Maintenance Capital Expenditure 0.31
Change In Working Capital -18.45
Shares Outstanding (Diluted Average) 37.43

1. Start with "Net Income" from income statement. Aridis Pharmaceuticals's Net Income for the trailing twelve months (TTM) ended in Sep. 2023 was $-1.14 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Aridis Pharmaceuticals's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Sep. 2023 was $0.31 Mil. This needs to be added back because company does not actually need to pay cash for it. It is a non-cash item.

3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income. Aridis Pharmaceuticals's Change In Deferred Tax for the trailing twelve months (TTM) ended in Sep. 2023 was $0.00 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $0.31 Mil

It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.

The following shows how to get maintenance capital expenditure.

First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.

Aridis Pharmaceuticals's 5-Year Average Maintenance Capital Expenditure = $0.31 Mil

5. "Change In Working Capital" is from cashflow statement. Aridis Pharmaceuticals's Change In Working Capital for the trailing twelve months (TTM) ended in Sep. 2023 was $-18.45 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.

6. Aridis Pharmaceuticals's Shares Outstanding (Diluted Average) for the months ended in Sep. 2023 was 37.429 Mil.

Aridis Pharmaceuticals's Onwer Earnings Per Share for Sep. 2023 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( -1.142 +0.309+0
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-0.30746666666667+-18.454)/37.429
=0.00

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=0.0002/0.00
=0

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Be Aware

Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.

Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.


Aridis Pharmaceuticals Owner Earnings per Share (TTM) Related Terms

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Aridis Pharmaceuticals Business Description

Traded in Other Exchanges
N/A
Address
983 University Avenue, Building B, Los Gatos, CA, USA, 95032
Aridis Pharmaceuticals Inc is a late-stage biopharmaceutical company. It is engaged in the discovery and development of targeted immunotherapy using fully human monoclonal antibodies, or mAbs, to treat life-threatening infections.
Executives
Vu Truong director, 10 percent owner, officer: CEO, CSO, Director 5941 OPTICAL CT., SAN JOSE CA 95138
Eric Patzer director, 10 percent owner 5941 OPTICAL CT., SAN JOSE CA 95138
Fibrosis Foundation Cystic 10 percent owner 4550 MONTGOMERY STREET, SUITE 1100N, BETHESDA MD 20814
Hasan Jafri officer: Chief Medical Officer 5941 OPTICAL COURT, SAN JOSE CA 95138
John F Hamilton director 1360 O'BRIEN DR, MENLO PARK CA 94025
Michael Adrian Nazak officer: Chief Financial Officer 5941 OPTICAL COURT, SAN JOSE CA 95138
Susan Richards Windham-bannister director 78 BLANCHARD ROAD, BURLINGTON MA 01803
Isaac Blech director C/O INSPIREMD, INC., 321 COLUMBUS AVENUE, BOSTON MA 02116
Fred Kurland officer: Chief Financial Officer C/O GENITOPE CORP, 525 PENOBSCOT DRIVE, REDWOOD CITY CA 94063
Wolfgang Dummer officer: Chief Medical Officer 5491 OPTICAL CT., SAN JOSE CA 95138
Robert R Ruffolo director
Shawn Lu director C/O CANTEX PHARMACEUTICALS, INC., 1792 BELL TOWER LANE, WESTON FL 33326
Robert K. Coughlin director 5941 OPTICAL CT., SAN JOSE CA 95138
Craig S Gibbs director C/O FORTY SEVEN, INC., 1490 O'BRIEN DRIVE, SUITE A, MENLO PARK CA 94025