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Molson Coors Beverage Co Owner Earnings per Share (TTM)

: -0.33 (As of Sep. 2021)
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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)."

Molson Coors Beverage Co's Owner Earnings per Share (TTM) ended in Sep. 2021 was $-0.33. It's Price-to-Owner-Earnings ratio for today is 0.


The historical rank and industry rank for Molson Coors Beverage Co'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 Molson Coors Beverage Co was 47.70. The lowest was 0.00. And the median was 12.78.



Molson Coors Beverage Co's Earnings per Share (Diluted) for the three months ended in Sep. 2021 was $2.08. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2021 was $-2.06. It's PE Ratio ratio for today is At Loss.

Molson Coors Beverage Co's EPS without NRI for the three months ended in Sep. 2021 was $2.08. Its EPS without NRI for the trailing twelve months (TTM) ended in Sep. 2021 was $-2.06. It's PE Ratio without NRI ratio for today is At Loss.


Molson Coors Beverage Co Owner Earnings per Share (TTM) Historical Data

The historical data trend for Molson Coors Beverage Co'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.

Molson Coors Beverage Co Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Owner Earnings per Share (TTM)
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 15.50 8.59 7.58 3.86 -0.73

Molson Coors Beverage Co Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 7.61 -0.73 -0.53 -0.83 -0.33

Competitive Comparison

For the Beverages - Brewers subindustry, Molson Coors Beverage Co'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.

   

Molson Coors Beverage Co Owner Earnings per Share (TTM) Distribution

For the Beverages - Alcoholic industry and Consumer Defensive sector, Molson Coors Beverage Co's Owner Earnings per Share (TTM) distribution charts can be found below:

* The bar in red indicates where Molson Coors Beverage Co's Owner Earnings per Share (TTM) falls into.



Molson Coors Beverage Co 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)

Molson Coors Beverage Co's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income -444
Depreciation, Depletion and Amortization 811
Change In Deferred Tax 240
5Y Average of Maintenance Capital Expenditure 545
Change In Working Capital -134
Shares Outstanding (Diluted Average) 218

1. Start with "Net Income" from income statement. Molson Coors Beverage Co's Net Income for the trailing twelve months (TTM) ended in Sep. 2021 was $-444 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Molson Coors Beverage Co's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Sep. 2021 was $811 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. Molson Coors Beverage Co's Change In Deferred Tax for the trailing twelve months (TTM) ended in Sep. 2021 was $240 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $545 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.

Molson Coors Beverage Co's 5-Year Average Maintenance Capital Expenditure = $545 Mil

5. "Change In Working Capital" is from cashflow statement. Molson Coors Beverage Co's Change In Working Capital for the trailing twelve months (TTM) ended in Sep. 2021 was $-134 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. Molson Coors Beverage Co's Shares Outstanding (Diluted Average) for the months ended in Sep. 2021 was 217.600 Mil.

Molson Coors Beverage Co's Onwer Earnings Per Share for Sep. 2021 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( -444.1 +811.3+240
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-545.01668669284+-133.5)/217.600
=-0.33

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=45.38/-0.33
=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.


Molson Coors Beverage Co Owner Earnings per Share (TTM) Related Terms

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


Molson Coors Beverage Co Business Description

Molson Coors Beverage Co logo
Industry
Address
NH353, P.O. Box 4030, Golden, CO, USA, 80401
Molson Coors is the fifth- largest beer producer globally, boasting top-two positioning in the U.S., Canada, and many Central European markets. It brews and markets a slew of company-owned brands including Blue Moon, Coors, Miller, Vizzy, and Staropramen. It also sells various partner brands in certain locales such as Topo Chico (licensed from Coca-Cola), Amstel and Dos Equis in Canada (through an exclusive import/license arrangement with Heineken) and Corona in Central Europe (through an agreement with Anheuser-Busch InBev). The firm's go-to-market approach differs by geography as well, primarily using independent distributors in the U.S., but deploying hybrid models in Canada and Europe.
Executives
Herington Charles M director 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202
Eaton Roger G. director 1441 GARDINER LANE LOUISVILLE KY 40213
Napier Iain J G director 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202
Tough Douglas D. director 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202
Vachon Louis director 1155 METCALFE STREET MONTREAL QUEBEC CANADA E6 0000
Coors Peter H director, 10 percent owner, other: Vice Chairman of the Board 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202
Coors David S. director P.O. BOX 4030 NH353 GOLDEN CO 80401
Winnefeld James A Jr director 870 WINTER STREET WALTHAM MA 02451
Fergusonmchugh Marylynn director ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Molson Andrew Thomas director, other: Chairman of the Board 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202
Riley H Sanford director 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202
Molson Geoffrey E. director 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202
Hobbs Franklin W Iv director 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202
Cox Simon officer: Pres&CEO, Molson Coors Europe 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202
Tabolt Brian officer: VP,Controller & Chf Acct Off 1801 CALIFORNIA STREET, SUITE 4600 DENVER CO 80202

Molson Coors Beverage Co Headlines

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