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Kulicke & Soffa Industries Owner Earnings per Share (TTM)

: 5.78 (As of Mar. 2022)
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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)."

Kulicke & Soffa Industries's Owner Earnings per Share (TTM) ended in Mar. 2022 was $5.78. It's Price-to-Owner-Earnings ratio for today is 7.49.


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

KLIC' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 3.61   Med: 16.35   Max: 241.55
Current: 7.45


During the past 13 years, the highest Price-to-Owner-Earnings ratio of Kulicke & Soffa Industries was 241.55. The lowest was 3.61. And the median was 16.35.


KLIC's Price-to-Owner-Earnings is ranked better than
82.52% of 429 companies
in the Semiconductors industry
Industry Median: 18.35 vs KLIC: 7.45

Kulicke & Soffa Industries's Earnings per Share (Diluted) for the three months ended in Mar. 2022 was $1.86. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2022 was $7.86. It's PE Ratio ratio for today is 5.51.

Kulicke & Soffa Industries's EPS without NRI for the three months ended in Mar. 2022 was $1.86. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2022 was $7.86. It's PE Ratio without NRI ratio for today is 5.51.


Kulicke & Soffa Industries Owner Earnings per Share (TTM) Historical Data

The historical data trend for Kulicke & Soffa Industries'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.

Kulicke & Soffa Industries Annual Data
Trend Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21
Owner Earnings per Share (TTM)
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.88 1.43 0.64 1.09 4.33

Kulicke & Soffa Industries Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
Owner Earnings per Share (TTM) 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 Premium Member Only Premium Member Only Premium Member Only 1.84 2.94 4.33 4.95 5.78

Competitive Comparison

For the Semiconductor Equipment & Materials subindustry, Kulicke & Soffa Industries's Owner Earnings per Share (TTM), along with its competitors' market caps and Owner Earnings per Share (TTM) 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.

   

Kulicke & Soffa Industries Owner Earnings per Share (TTM) Distribution

For the Semiconductors industry and Technology sector, Kulicke & Soffa Industries's Owner Earnings per Share (TTM) distribution charts can be found below:

* The bar in red indicates where Kulicke & Soffa Industries's Owner Earnings per Share (TTM) falls into.



Kulicke & Soffa Industries 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)

Kulicke & Soffa Industries's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income 497
Depreciation, Depletion and Amortization 21
Change In Deferred Tax -3
5Y Average of Maintenance Capital Expenditure 11
Change In Working Capital -143
Shares Outstanding (Diluted Average) 62

1. Start with "Net Income" from income statement. Kulicke & Soffa Industries's Net Income for the trailing twelve months (TTM) ended in Mar. 2022 was $497 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Kulicke & Soffa Industries's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2022 was $21 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. Kulicke & Soffa Industries's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2022 was $-3 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $11 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.

Kulicke & Soffa Industries's 5-Year Average Maintenance Capital Expenditure = $11 Mil

5. "Change In Working Capital" is from cashflow statement. Kulicke & Soffa Industries's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2022 was $-143 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. Kulicke & Soffa Industries's Shares Outstanding (Diluted Average) for the months ended in Mar. 2022 was 62.435 Mil.

Kulicke & Soffa Industries's Onwer Earnings Per Share for Mar. 2022 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( 497.084 +20.625+-3.065
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-10.666079530104+-142.935)/62.435
=5.78

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=43.31/5.78
=7.49

* 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.


Kulicke & Soffa Industries Owner Earnings per Share (TTM) Related Terms

Thank you for viewing the detailed overview of Kulicke & Soffa Industries's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.


Kulicke & Soffa Industries Business Description

Kulicke & Soffa Industries logo
Industry
Technology » Semiconductors NAICS : 334413 SIC : 3674
Traded in Other Exchanges
Address
23A Serangoon North Avenue 5, No 01-01, K and S Corporate Headquarters, Singapore, SGP, 554369
Kulicke & Soffa Industries Inc is a United States-based company that is principally engaged in designing, manufacturing, and selling capital equipment and expendable tools that are used for assembling semiconductor devices. The company operates through two core segments: Capital equipment, which produces and sells a series of ball bonders, wafer-level bonders, wedge bonders, APS which produces and offers various expendable tools designed for multiple semiconductor packaging applications. The Capital equipment segment contributes the majority of total revenue. The company generates the majority of its total revenue from the overseas market, mainly in the Asia-Pacific region.
Executives
Wong Nelson Munpun officer: Senior Vice President 23A, SERANGOON NORTH AVE 5 #01-01 SINGAPORE U0 554369
Drake Stephen Ray officer: Vice President 23A SERANGOON NORTH AVENUE 5 #01-01 SINGAPORE U0 554369
Chen Fusen Ernie director, officer: President and CEO 1005 VIRGINIA DRIVE FORT WASHINGTON PA 19034
Wong Lester A officer: Chief Financial Officer 23A, SERANGOON NORTH AVE 5 #01-01 SINGAPORE U0 554369
Chong Chan Pin officer: Executive Vice President 23A SERANGOON NORTH AVENUE 5 #01-01 SINGAPORE U0 554369
Soloveizik Zamir Shai officer: Vice President 23A SERANGOON NORTH AVENUE 5, #01-01 SINGAPORE U0 554369
Milzcik Gregory F director 1005 VIRGINIA DRIVE FORT WASHINGTON PA 19034
Yeo Mui Sung director 23A, SERANGOON NORTH AVENUE 5 #01-01 SINGAPORE U0 554369
Lim Chin Hu director 23A, SERANGOON NORTH AVENUE 5 #01-01 SINGAPORE U0 554369
Kong Peter T M director KULICKE AND SOFFA INDUSTRIES INC. 1005 VIRGINIA DRIVE FT. WASHINGTON PA 19034
Richardson David Jeffrey director LSI LOGIC CORP 1621 BARBER LANE MILPITAS CA 95035
Pierce Garrett E director 21839 ATLANTIC BLVD DULLES VA 20166
Bachman Brian R director 1005 VIRGINIA DRIVE FORT WASHINGTON PA 19034
Sood Deepak officer: Vice President 23A, SERANGOON NORTH AVENUE 5 #01-01 SINGAPORE U0 554369
Hoang Hoang officer: Executive Vice President 23A SERANGOON NORTH AVE 5 #01-01 SINGAPORE U0 554369

Kulicke & Soffa Industries Headlines

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