Morphic Ethical Equity Fund (ASX:MEC) Owner Earnings per Share (TTM) : (As of Sep. 2021)

Morphic Ethical Equity Fund Owner Earnings per Share (TTM) Chart

Morphic Ethical Equity Fund Semi-Annual Data
	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Dec22
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Competitive Comparison of Morphic Ethical Equity Fund's Owner Earnings per Share (TTM)

For the Asset Management subindustry, Morphic Ethical Equity Fund'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.

Morphic Ethical Equity Fund's Price-to-Owner-Earnings Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Morphic Ethical Equity Fund's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where Morphic Ethical Equity Fund's Price-to-Owner-Earnings falls into.

Morphic Ethical Equity Fund 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)

Morphic Ethical Equity Fund does not have enough data to calculate Owner Earnings per Share (TTM). Please check Wal-Mart Stores Inc, as your reference.

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.

Morphic Ethical Equity Fund Owner Earnings per Share (TTM) Related Terms

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Morphic Ethical Equity Fund (ASX:MEC) Business Description