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Myovant Sciences Owner Earnings per Share (TTM)

: -3.30 (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)."

Myovant Sciences's Owner Earnings per Share (TTM) ended in Mar. 2022 was $-3.30. It's Price-to-Owner-Earnings ratio for today is 0.


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


During the past 7 years, the highest Price-to-Owner-Earnings ratio of Myovant Sciences was 8.03. The lowest was 4.97. And the median was 6.30.



Myovant Sciences's Earnings per Share (Diluted) for the three months ended in Mar. 2022 was $-0.63. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2022 was $-2.21. It's PE Ratio ratio for today is At Loss.

Myovant Sciences's EPS without NRI for the three months ended in Mar. 2022 was $-0.63. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2022 was $-2.21. It's PE Ratio without NRI ratio for today is At Loss.


Myovant Sciences Owner Earnings per Share (TTM) Historical Data

The historical data trend for Myovant Sciences'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.

Myovant Sciences Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22
Owner Earnings per Share (TTM)
Premium Member Only Premium Member Only - - - 3.64 -3.30

Myovant Sciences 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 3.64 2.97 3.74 -3.50 -3.30

Competitive Comparison

For the Biotechnology subindustry, Myovant Sciences'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.

   

Myovant Sciences Owner Earnings per Share (TTM) Distribution

For the Biotechnology industry and Healthcare sector, Myovant Sciences's Owner Earnings per Share (TTM) distribution charts can be found below:

* The bar in red indicates where Myovant Sciences's Owner Earnings per Share (TTM) falls into.



Myovant Sciences 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)

Myovant Sciences's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income -206.0
Depreciation, Depletion and Amortization 3.1
Change In Deferred Tax 0.0
5Y Average of Maintenance Capital Expenditure 1.2
Change In Working Capital -107.0
Shares Outstanding (Diluted Average) 94.4

1. Start with "Net Income" from income statement. Myovant Sciences's Net Income for the trailing twelve months (TTM) ended in Mar. 2022 was $-206.0 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Myovant Sciences's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2022 was $3.1 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. Myovant Sciences's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2022 was $0.0 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $1.2 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.

Myovant Sciences's 5-Year Average Maintenance Capital Expenditure = $1.2 Mil

5. "Change In Working Capital" is from cashflow statement. Myovant Sciences's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2022 was $-107.0 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. Myovant Sciences's Shares Outstanding (Diluted Average) for the months ended in Mar. 2022 was 94.356 Mil.

Myovant Sciences'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
=( -205.981 +3.072+0
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-1.178+-107.001)/94.356
=-3.30

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=10.49/-3.30
=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.


Myovant Sciences Owner Earnings per Share (TTM) Related Terms

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


Myovant Sciences Business Description

Myovant Sciences logo
Industry
Healthcare » Biotechnology NAICS : 541714 SIC : 2834
Traded in Other Exchanges
Address
11-12 St. James’s Square, Suite 1, 3rd Floor, London, GBR, SW1Y 4LB
Myovant Sciences Ltd is a healthcare company focused on redefining care for women and for men. The company's lead product candidate is relugolix, a once-daily, oral GnRH receptor antagonist. It has three late-stage clinical programs for relugolix in uterine fibroids, endometriosis, and prostate cancer. The company is also developing MVT-602, an oligopeptide kisspeptin-1 receptor agonist, that has completed a Phase 2a study for the treatment of female infertility as part of assisted reproduction.
Executives
Potter Myrtle S director 10 FINDERNE AVE BRIDGEWATER NJ 08807
Guinan Mark director C/O QUEST DIAGNOSTICS 500 PLAZA DRIVE SECAUCUS NJ 07094
Arjona Ferreira Juan Camilo officer: Chief Medical Officer C/O MYOVANT SCIENCES INC. 2000 SIERRA POINT PARKWAY, 9TH FLOOR BRISBANE CA 94005
Curran Terrie director C/O MYOVANT SCIENCES INC. 320 WEST 37TH STREET, 5TH FLOOR NEW YORK NY 10018
Gulfo Adele M. director ONE NEENAH CENTER, 4TH FLOOR P.O. BOX 669 NEENAH WI 54957
Sebelius Kathleen director C/O DERMIRA, INC. 275 MIDDLEFIELD ROAD, SUITE 150 MENLO PARK CA 94025
Lang Matthew officer: General Counsel & Corp. Secy. C/O MYOVANT SCIENCES INC. 2000 SIERRA POINT PARKWAY, 9TH FLOOR BRISBANE CA 94005
Sumitomo Chemical Co., Ltd. 10 percent owner 27-1, SHINKAWA 2-CHOME CHUO-KU TOKYO M0 104-8260
Sumitovant Biopharma Ltd. 10 percent owner C/O ROIVANT SCIENCES, INC. 320 WEST 37TH STREET, 5TH FLOOR NEW YORK NY 10018
Dainippon Sumitomo Pharma Co Ltd 10 percent owner 60 WALL STREET NEW YORK NY 10005
Seely Lynn director, officer: Principal Executive Officer 501 2ND STREET SUITE 211 SAN FRANCISCO CA 94107
Sablich Kim officer: Chief Commercial Officer C/O MYOVANT SCIENCES INC. 2000 SIERRA POINT PARKWAY BRISBANE CA 94005
Nomura Hiroshi director C/O MYOVANT SCIENCES INC. 2000 SIERRA POINT PARKWAY BRISBANE CA 94005
Roivant Sciences Ltd. 10 percent owner CLARENDON HOUSE 2 CHURCH STREET HAMILTON D0 HM11
Torti Frank director 2855 SAND HILL ROAD MENLO PARK CA 94025

Myovant Sciences Headlines

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