GURUFOCUS.COM » STOCK LIST » USA » NAS » OncoCyte Corp (NAS:OCX) » Definitions » Owner Earnings per Share (TTM)
Switch to:

OncoCyte (NAS:OCX) Owner Earnings per Share (TTM)

: -0.54 (As of Sep. 2022)
View and export this data going back to 2015. Start your Free Trial

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)."

OncoCyte's Owner Earnings per Share (TTM) ended in Sep. 2022 was $-0.54. It's Price-to-Owner-Earnings ratio for today is 0.


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




OncoCyte's Earnings per Share (Diluted) for the three months ended in Sep. 2022 was $-0.08. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2022 was $-0.65. It's PE Ratio ratio for today is At Loss.

OncoCyte's EPS without NRI for the three months ended in Sep. 2022 was $-0.08. Its EPS without NRI for the trailing twelve months (TTM) ended in Sep. 2022 was $-0.65. It's PE Ratio without NRI ratio for today is At Loss.


OncoCyte Owner Earnings per Share (TTM) Historical Data

The historical data trend for OncoCyte'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.

OncoCyte Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Owner Earnings per Share (TTM)
Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - -0.44 -0.43 -0.78

OncoCyte Quarterly Data
Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
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 -0.47 -0.78 -0.77 -0.59 -0.54

Competitive Comparison

For the Biotechnology subindustry, OncoCyte'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.

   

OncoCyte Owner Earnings per Share (TTM) Distribution

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

* The bar in red indicates where OncoCyte's Owner Earnings per Share (TTM) falls in comparison to its industry or sector. The grey bar indicates the Owner Earnings per Share (TTM)'s extreme value range as defined by GuruFocus.



OncoCyte 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)

OncoCyte's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income -63.81
Depreciation, Depletion and Amortization 5.19
Change In Deferred Tax 0.10
5Y Average of Maintenance Capital Expenditure 1.57
Change In Working Capital -3.97
Shares Outstanding (Diluted Average) 118.61

1. Start with "Net Income" from income statement. OncoCyte's Net Income for the trailing twelve months (TTM) ended in Sep. 2022 was $-63.81 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. OncoCyte's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Sep. 2022 was $5.19 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. OncoCyte's Change In Deferred Tax for the trailing twelve months (TTM) ended in Sep. 2022 was $0.10 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $1.57 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.

OncoCyte's 5-Year Average Maintenance Capital Expenditure = $1.57 Mil

5. "Change In Working Capital" is from cashflow statement. OncoCyte's Change In Working Capital for the trailing twelve months (TTM) ended in Sep. 2022 was $-3.97 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. OncoCyte's Shares Outstanding (Diluted Average) for the months ended in Sep. 2022 was 118.610 Mil.

OncoCyte's Onwer Earnings Per Share for Sep. 2022 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( -63.809 +5.194+0.097
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-1.5653251763668+-3.97)/118.610
=-0.54

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=0.39/-0.54
=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.


OncoCyte Owner Earnings per Share (TTM) Related Terms

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


OncoCyte (NAS:OCX) Business Description

OncoCyte logo
Industry
Traded in Other Exchanges
Address
15 Cushing, Irvine, CA, USA, 92618
OncoCyte Corp focuses on the discovery, development, and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer. The company develops diagnostic tests based on liquid biopsies using blood or urine samples for detecting lung, bladder, and breast cancers. In addition, it also develops screening diagnostics as potential replacements for screening imaging procedures that do not meet the needs of patients, health care providers or payers. Geographically operation of the group is carried through the United States, and it earns revenue from the sale of diagnostic tests.
Executives
Josh Riggs officer: Interim CEO 15 CUSHING, IRVINE CA 92618
Lou Silverman director
James Yang Liu officer: Controller, PAO C/O ONCOCYTE CORPORATION, 15 CUSHING, IRVINE CA 92618
John Peter Gutfreund director C/O ONCOCYTE CORPORATION, 15 CUSHING, IRVINE CA 92618
Anish M. John officer: SVP, Finance, and Interim CFO C/O ONCOCYTE CORPORATION,, 15 CUSHING, IRVINE CA 92618
Pura Vida Investments, Llc 10 percent owner 512 W 22ND STREET, 7TH FLOOR, NEW YORK NY 10011
Efrem Kamen 10 percent owner C/O PURA VIDA INVESTMENTS, LLC, 512 W 22ND STREET, 7TH FLOOR, NEW YORK NY 10011
Gisela Paulsen officer: Chief Operating Officer 5505 ENDEAVOR LANE, MADISON WI 53719
Li Yu officer: VP Cntrllr/Prncpl Acctng Offcr 120 NEWPORT CENTER DRIVE., NEWPORT BEACH CA 92660
Jennifer L. Carter director C/O DFP SPONSOR LLC, 780 THIRD AVENUE, 37TH FLOOR, NEW YORK NY 10017
Douglas T. Ross officer: Chief Medical Officer 15 CUSHING, IRVINE CA 92618
Tony T Kalajian officer: SVP-Chief Accounting Officer 1010 ATLANTIC AVENUE, SUITE 102, ALAMEDA CA 94501
Melinda Griffith director 1010 ATLANTIC AVENUE, SUITE 102, ALAMEDA CA 94501
Padma Sundar officer: SVP, Marketing & Market Access 1010 ATLANTIC AVENUE, SUITE 102, ALAMEDA CA 94501
Ronald Asbury Andrews director 5791 VAN ALLEN WAY, CARLSBAD CA 92008

OncoCyte (NAS:OCX) Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
premium membership