>
Switch to:

UMB Financial Owner Earnings per Share (TTM)

: 8.42 (As of Jun. 2021)
View and export this data going back to 1971. 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)."

UMB Financial's Owner Earnings per Share (TTM) ended in Jun. 2021 was $8.42. It's Price-to-Owner-Earnings ratio for today is 12.32.


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

NAS:UMBF' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 10.13   Med: 16.83   Max: 40.43
Current: 12.28

10.13
40.43

During the past 13 years, the highest Price-to-Owner-Earnings ratio of UMB Financial was 40.43. The lowest was 10.13. And the median was 16.83.


NAS:UMBF's Price-to-Owner-Earnings is ranked higher than
62% of the 583 Companies
in the Banks industry.

( Industry Median: 16.36 vs. NAS:UMBF: 12.28 )

UMB Financial's Earnings per Share (Diluted) for the three months ended in Jun. 2021 was $1.79. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2021 was $8.46. It's PE Ratio ratio for today is 12.26.

UMB Financial's EPS without NRI for the three months ended in Jun. 2021 was $1.79. Its EPS without NRI for the trailing twelve months (TTM) ended in Jun. 2021 was $8.46. It's PE Ratio without NRI ratio for today is 12.26.


UMB Financial Owner Earnings per Share (TTM) Historical Data

The historical data trend for UMB Financial'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.

UMB Financial 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 3.47 5.84 2.74 4.40 5.25

UMB Financial Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
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 2.22 2.94 5.25 9.07 8.42

Competitive Comparison

For the Banks - Regional subindustry, UMB Financial'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.

   

UMB Financial Owner Earnings per Share (TTM) Distribution

For the Banks industry and Financial Services sector, UMB Financial's Owner Earnings per Share (TTM) distribution charts can be found below:

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



UMB Financial 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)

UMB Financial's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income 409
Depreciation, Depletion and Amortization 59
Change In Deferred Tax 15
5Y Average of Maintenance Capital Expenditure 48
Change In Working Capital -25
Shares Outstanding (Diluted Average) 49

1. Start with "Net Income" from income statement. UMB Financial's Net Income for the trailing twelve months (TTM) ended in Jun. 2021 was $409 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. UMB Financial's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Jun. 2021 was $59 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. UMB Financial's Change In Deferred Tax for the trailing twelve months (TTM) ended in Jun. 2021 was $15 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $48 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.

UMB Financial's 5-Year Average Maintenance Capital Expenditure = $48 Mil

5. "Change In Working Capital" is from cashflow statement. UMB Financial's Change In Working Capital for the trailing twelve months (TTM) ended in Jun. 2021 was $-25 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. UMB Financial's Shares Outstanding (Diluted Average) for the months ended in Jun. 2021 was 48.698 Mil.

UMB Financial's Onwer Earnings Per Share for Jun. 2021 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( 409.467 +59.463+14.788
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-48.482504250977+-25.319)/48.698
=8.42

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=103.7083/8.42
=12.32

* 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.


UMB Financial Owner Earnings per Share (TTM) Related Terms

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


UMB Financial Business Description

UMB Financial logo
Industry
Financial Services » Banks NAICS : 522110 SIC : 6029
Traded in Other Exchanges
Address
1010 Grand Boulevard, Kansas City, MO, USA, 64106
UMB Financial Corp, or UMBF, is a financial services holding company offering a suite of banking, asset management, and health spending solutions. Its customer base includes commercial, institutional, and personal customers across the United States. The company's banking subsidiaries own and operate banking and wealth-management centres mostly throughout the Midwest and Southwest regions of the U.S. Subsidiaries of the holding company and its lead bank, UMB Bank, include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisory. The bank's revenue is split nearly evenly between interest income and noninterest income.
Executives
Kemper J Mariner director, officer: Chairman and CEO 1010 GRAND BLVD. KANSAS CITY MO 64106
Peterman Tamara director 1010 GRAND BLVD KANSAS CITY MO 64106
Graves Greg M director 1010 GRAND BLVD KANSAS CITY MO 64106
Davidson Janine director 1010 GRAND BLVD KANSAS CITY MO 64106
Shankar Ram officer: Chief Financial Officer 1010 GRAND BLVD. KANSAS CITY MO 64106
Rine James D officer: President UMB Bank, n.a. 1010 GRAND BOULEVARD KANSAS CITY MO 64106
King Stacy H officer: Chief Risk Officer 1010 GRAND BLVD KANSAS CITY MO 64106
Cornelius James officer: Executive Vice President 1010 GRAND BOULEVARD KANSAS CITY MO 64106
Johnson Shannon Andresen officer: Chief Administrative Officer 1010 GRAND BLVD KANSAS CITY MO 64106
Macke Kevin M officer: Executive Vice President 1010 GRAND BOULEVARD KANSAS CITY MO 64106
Terry Thomas S officer: Chief Credit Officer 1010 GRAND BOULEVARD KANSAS CITY MO 64106
Pauls John officer: EVP & General Counsel 1010 GRAND BLVD KANSAS CITY MO 64106
Wendel Abigail M officer: President - Consumer Banking 1010 GRAND BOULEVARD KANSAS CITY MO 64106
Newton Nikki Farentino officer: President, Private Wealth Mgmt 1010 GRAND BLVD KANSAS CITY MO 64106
Beaird Robert Brian officer: Chief Human Resource Officer 1010 GRAND BLVD KANSAS CITY MO 64106

UMB Financial 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)