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Chuang's Consortium International (HKSE:00367) Owner Earnings per Share (TTM) : -0.55 (As of Mar. 2024)


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What is Chuang's Consortium International 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)."

Chuang's Consortium International's Owner Earnings per Share (TTM) ended in Mar. 2024 was HK$-0.55. It's Price-to-Owner-Earnings ratio for today is 0.


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


During the past 13 years, the highest Price-to-Owner-Earnings ratio of Chuang's Consortium International was 56.00. The lowest was 1.69. And the median was 6.11.


HKSE:00367's Price-to-Owner-Earnings is not ranked *
in the Real Estate industry.
Industry Median: 10.68
* Ranked among companies with meaningful Price-to-Owner-Earnings only.

Chuang's Consortium International's Earnings per Share (Diluted) for the six months ended in Mar. 2024 was HK$-0.27. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2024 was HK$-0.56. It's PE Ratio (TTM) ratio for today is At Loss.

Chuang's Consortium International's EPS without NRI for the six months ended in Mar. 2024 was HK$-0.22. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2024 was HK$-0.37. It's PE Ratio without NRI ratio for today is At Loss.


Chuang's Consortium International Owner Earnings per Share (TTM) Historical Data

The historical data trend for Chuang's Consortium International'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.

Chuang's Consortium International Owner Earnings per Share (TTM) Chart

Chuang's Consortium International Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Owner Earnings per Share (TTM)
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.42 -0.69 0.16 -0.27 -0.55

Chuang's Consortium International Semi-Annual Data
Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24
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 0.16 - -0.27 - -0.55

Competitive Comparison of Chuang's Consortium International's Owner Earnings per Share (TTM)

For the Real Estate Services subindustry, Chuang's Consortium International'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.


Chuang's Consortium International's Price-to-Owner-Earnings Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Chuang's Consortium International's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where Chuang's Consortium International's Price-to-Owner-Earnings falls into.



Chuang's Consortium International 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)

Chuang's Consortium International's Owner Earnings per Share (TTM) Calculation:

Last Year Average of Last 5 Years
Net Income -932.0
Depreciation, Depletion and Amortization 41.8
Change In Deferred Tax 0.0
5Y Average of Maintenance Capital Expenditure 5.3
Change In Working Capital -30.7
Shares Outstanding (Diluted Average) 1,672.6

1. Start with "Net Income" from income statement. Chuang's Consortium International's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was HK$-932.0 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Chuang's Consortium International's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2024 was HK$41.8 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. Chuang's Consortium International's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2024 was HK$0.0 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = HK$5.3 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 year. If the revenue decreased from the previous year, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous year, 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.

Chuang's Consortium International's 5-Year Average Maintenance Capital Expenditure = HK$5.3 Mil

5. "Change In Working Capital" is from cashflow statement. Chuang's Consortium International's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2024 was HK$-30.7 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. Chuang's Consortium International's Shares Outstanding (Diluted Average) for the months ended in Mar. 2024 was 1672.553 Mil.

Chuang's Consortium International's Onwer Earnings Per Share for Mar. 2024 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( -932.049 +41.786+0
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-5.337+-30.677)/1672.553
=-0.55

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=0.37/-0.55
=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.


Chuang's Consortium International Owner Earnings per Share (TTM) Related Terms

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Chuang's Consortium International Business Description

Traded in Other Exchanges
N/A
Address
18 Chater Road, 25th Floor, Alexandra House, Central, Hong Kong, HKG
Chuang's Consortium International Ltd is an investment holding company. The company's operating segment includes Property development, investment and trading; Hotel operation and management; Cemetery; Sales of goods and merchandises; Securities investment and trading; Money lending business, and Other and Corporate. It generates maximum revenue from the Property development, investment and trading segment. Geographically, it derives a majority of its revenue from Hong Kong and also has a presence in PRC, the United Kingdom, and Other countries.
Executives
Evergain Holdings Limited 2101 Beneficial owner
Chong Ho Pik Yu 2202 Interest of your spouse
Chuang (on Hkid: "chong") Shaw Swee, Alan 2201 Interest of corporation controlled by you

Chuang's Consortium International Headlines

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