Bede (LSE:BED) Owner Earnings per Share (TTM) : (As of Sep. 2007)

Bede Owner Earnings per Share (TTM) Chart

Bede Annual Data
	Trend	Dec97	Dec98	Dec99	Dec00	Dec01	Dec02	Dec03	Dec04	Dec05	Dec06
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Bede Quarterly Data
	Mar02	Sep03	Mar04	Jun04	Sep04	Dec04	Mar05	Jun05	Sep05	Dec05	Mar06	Jun06	Sep06	Dec06	Mar07	Jun07	Sep07
Owner Earnings per Share (TTM)	Get a 7-Day Free Trial												-	-	-	-	-

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

For the subindustry, Bede'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.

Bede's Price-to-Owner-Earnings Distribution in the Industry

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

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

Bede 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)

Bede 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.

Bede Owner Earnings per Share (TTM) Related Terms

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Bede (LSE:BED) Business Description