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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)."
MidCap Financial Investment does not have enough data to calculate Owner Earnings per Share (TTM), so as Price-to-Owner-Earnings ratio.
The historical rank and industry rank for MidCap Financial Investment's Owner Earnings per Share (TTM) or its related term are showing as below:
MidCap Financial Investment's Earnings per Share (Diluted) for the three months ended in Mar. 2024 was $0.39. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2024 was $1.75. It's PE Ratio ratio for today is 8.90.
MidCap Financial Investment's EPS without NRI for the three months ended in Mar. 2024 was $0.39. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2024 was $1.75. It's PE Ratio without NRI ratio for today is 8.90.
The historical data trend for MidCap Financial Investment'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.
MidCap Financial Investment Annual Data | |||||||||||||||||||||
Trend | Mar14 | Mar15 | Mar16 | Mar17 | Mar18 | Mar19 | Mar20 | Mar21 | Mar22 | Dec23 | |||||||||||
Owner Earnings per Share (TTM) | Get a 7-Day Free Trial | - | - | - | - | - |
MidCap Financial Investment Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Owner Earnings per Share (TTM) | Get a 7-Day Free Trial | - | - | - | - | - |
For the Asset Management subindustry, MidCap Financial Investment'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.
For the Asset Management industry and Financial Services sector, MidCap Financial Investment's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where MidCap Financial Investment's Price-to-Owner-Earnings falls into.
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)
MidCap Financial Investment 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.
Thank you for viewing the detailed overview of MidCap Financial Investment's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.
Ryan Delgiudice | officer: Chief Compliance Officer | 1520 E. GRAND AVENUE, EL SEGUNDO CA 90245 |
Mcnulty Ted Aymond Jr. | officer: President | 9 WEST 57TH STREET, NEW YORK NY 10019 |
Tanner Powell | officer: Chief Executive Officer | C/O APOLLO INVESTMENT CORPORATION, 9 W. 57TH STREET, NEW YORK NY 10019 |
Emanuel R Pearlman | director | 250 EAST 79TH STREET, NEW YORK NY 10075 |
Whonder Carmencita N.m. | director | 9 WEST 57TH STREET, 43RD FLOOR, NEW YORK NY 10019 |
Howard Widra | officer: President | 9 WEST 57TH STREET, 37TH FLOOR, NEW YORK NY 10019 |
Kristin Hester | officer: See Remarks | 9 WEST 57TH STREET, NEW YORK NY 10019 |
John J Hannan | director | 9 WEST 57TH STREET, NEW YORK NY 10019 |
Barbara Ruth Matas | director | 9800 59TH AVENUE NORTH, MINNEAPOLIS MN 55442 |
Elliot Jr Stein | director | C/ COMMONWEALTH CAPITAL PARTNERS, 444 MADISON AVE, NEW YORK NY 10022 |
Amit Joshi | officer: Chief Accounting Officer | APOLLO INVESTMENT CORP., 9 WEST 57TH STREET, NEW YORK NY 10019 |
Hilary E. Ackermann | director | 601 TRAVIS, SUITE 1400, HOUSTON TX 77002 |
Frank C Puleo | director | 7425 PURPLE SAGE, GLENWILD, PARK CITY UT 84098 |
James C Zelter | director, officer: Chief Executive Officer | APOLLO INVESTMENT CORPORATION, 9 WEST 57TH STREET, 14TH FLOOR, NEW YORK NY 10019 |
Gregory W. Hunt | officer: CFO & TREASURER | 730 5TH AVENUE, NEW YORK NY 10019 |
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