Market Cap : 5.34 B | Enterprise Value : 17.81 B | P/FFO : 17.15 | P/B : 1.18 |
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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)."
Starwood Property Trust does not have enough data to calculate Owner Earnings per Share (TTM), so as Price-to-Owner-Earnings ratio.
During the past 11 years, the highest Price-to-Owner-Earnings ratio of Starwood Property Trust was 35.28. The lowest was 0.00. And the median was 19.11.
Starwood Property Trust's Earnings per Share (Diluted) for the three months ended in Sep. 2020 was $0.52. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2020 was $1.37. It's PE Ratio ratio for today is 13.68.
Starwood Property Trust's EPS without NRI for the three months ended in Sep. 2020 was $0.52. Its EPS without NRI for the trailing twelve months (TTM) ended in Sep. 2020 was $1.37. It's PE Ratio without NRI ratio for today is 13.68.
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
* The bar in red indicates where Starwood Property Trust's Owner Earnings per Share (TTM) 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)
Starwood Property Trust does not have enough data to calculate Owner Earnings per Share (TTM). Please check Wal-Mart Stores Inc, as your reference.
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.
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