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Preferred stock is a special equity security that has properties of both equity and debt. Mohawk Industries's preferred stock for the quarter that ended in Dec. 2023 was $0 Mil.
The market value of preferred stock needs to be added to the market value of common stocks in the calculation of Enterprise Value. Mohawk Industries's Enterprise Value for the quarter that ended in Dec. 2023 was $8,996 Mil.
In the calculation of book value, the par value of preferred stocks needs to subtracted from total equity. Mohawk Industries's Book Value per Share for the quarter that ended in Dec. 2023 was $119.70.
Dividends paid to preferred stocks need to be subtracted from net income in the calculation of Earnings per Share (Diluted). Mohawk Industries's Earnings per Share (Diluted) for the three months ended in Dec. 2023 was $2.19.
The historical data trend for Mohawk Industries's Preferred Stock 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.
Preferred Stock is a special equity security that has properties of both equity and debt. It is generally considered a hybrid instrument. Preferred stock is senior to common stock, but is subordinate to bonds in terms of claim or rights to their share of the assets of the company.
Preferred stock has priority over common stock in the payment of dividends and any payments received when a company liquidates.
Preferred stock comes in many forms. It can be:
A preferred stock without a maturity date is called a perpetual preferred stock. These are relatively rare. A good example of perpetual preferred stock is the many series of Public Storage (PSA) preferred shares that trade on the New York Stock Exchange.
Before investing in preferred stock, it is important to know which of the above groups the stock belongs to. Is it convertible or non-convertible? Are dividends cumulative or non-cumulative?
It is also critical that an investor knows what bonds the company has in front of the preferred stock. Bondholders get paid first. So the decision to buy a preferred stock can be similar to the decision to buy a bond. But, remember, the preferred stock of a company with bonds is junior to those bonds.
Unless a preferred stock is convertible, the upside in a preferred stock investment is more limited than in a common stock investment. If a company doubles its earnings, it is usually under no more obligation to double the dividends paid to preferred shareholders than it is to double the interest paid to its bankers and bondholders.So preferred stock is very different from common stock.
Mohawk Industries (NYSE:MHK) Preferred Stock Explanation
When a company needs capital but does not wish to issue debt, they may sell preferred stocks to investors.
For instance, during the financial crisis of 2008, Goldman Sachs (GS) issued a combination of preferred stock and common stock options for $5 billion of capital to Warren Buffetts Berkshire Hathaway (BRK.A)(BRK.B). In this deal, Berkshire Hathaway paid $5 billion for 10% cumulative perpetual preferred stock and warrants to buy 43.5 million shares of Goldman Sachs at $115 a share. Goldman Sachs bought back the preferred in 2010. Guess how much money Warren Buffett made in this deal in two years? Read How Much Did Warren Buffetts Berkshire Hathaway (BRK.B) Make on Its Goldman Sachs (GS) Preferred Stock?
1. The market value of Preferred Stocks needs to be added to the market value of common stocks in the calculation of enterprise value.
Mohawk Industries's Enterprise Value for the quarter that ended in Dec. 2023 is calculated as
Enterprise Value | |||||||||
= | Market Cap | + | Preferred Stock | + | Long-Term Debt & Capital Lease Obligation | + | Short-Term Debt & Capital Lease Obligation | + | Minority Interest |
= | 6591.501 | + | 0 | + | 2039.291 | + | 1001.715 | + | 6.065 |
- | Cash, Cash Equivalents, Marketable Securities | ||||||||
- | 642.55 | ||||||||
= | 8,996 |
2. In the calculation of Book Value, the par value of Preferred Stocks needs to subtracted from total equity.
Mohawk Industries's Book Value per Share for the quarter that ended in Dec. 2023 is calculated as
Book Value per Share | = | (Total Stockholders Equity | - | Preferred Stock) | / | Shares Outstanding (Diluted Average) |
= | (7623.071 | - | 0) | / | 63.686 | |
= | 119.70 |
3. Dividends paid to Preferred Stocks need to be subtracted from net income in the calculation of earnings per share.
Mohawk Industries's Earnings per Share (Diluted) (EPS) for the three months ended in Dec. 2023 is calculated as
Earnings per Share (Diluted) | = | (Net Income | - | Preferred Dividends) | / | Shares Outstanding (Diluted Average) |
= | (139.488 | - | 0) | / | 63.684 | |
= | 2.19 |
* 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.
Thank you for viewing the detailed overview of Mohawk Industries's Preferred Stock provided by GuruFocus.com. Please click on the following links to see related term pages.
Suzanne L Helen | other: Possible Group Member | C/O MOHAWK INDUSTRIES INC, 2001 ANTIOCH ROAD, DALTON GA 30721 |
Rodney David Patton | officer: General Counsel - VP | 5855 RIVERMOND DRIVE, ATLANTA GA 30328 |
Jeffrey S Lorberbaum | director, officer: President and CEO | MOHAWK INDUSTRIES INC, P O BOX 12069, CALHOUN GA 30703 |
Bernard Thiers | director | NESTOR DE TIERESTRAAT 128, EINE C9 9700 |
Harkins William Wayne Ii | officer: CAO and Corporate Controller | 160 SOUTH INDUSTRIAL BLVD, CALHOUN GA 30701 |
Clifford Charles Suing | officer: CAO and Corporate Controller | 160 SOUTH INDUSTRIAL BLVD, CALHOUN GA 30701 |
Chistopher Wellborn | director, officer: President-Dal-Tile | MOHAWK INDUSTRIES INC, P O BOX 12069, CALHOUN GA 30703 |
Jerry W Burris | director | 5500 WAYZATA BLVD., SUITE 600, GOLDEN VALLEY MN 55416 |
James Brunk | director, officer: Corporate Controller and CAO | 251 MISTY HILL TRAIL, DALLAS GA 30132 |
Steven Hyosig Lee | officer: CAO and Corporate Controller | 160 SOUTH INDUSTRIAL BLVD, CALHOUN GA 30701 |
Frank H Boykin | director, officer: Vice President-Finance & CFO | 2042 OLD FORGE WAY, MARIETTA GA 30068 |
De Cock Paul F | officer: President-Flooring NA | ALPHONSE RENARDSTRAAT 41, ELSENE C9 1050 |
Filip Balcaen | director | PAULINE VAN POTTELSBERGHELAAN 10, 9051 SINT-DENIJS-WESTREM, GENT C9 9051 |
John Engquist | director | H&E EQUIPMENT SERVICES, 11100 MEAD ROAD, SUITE 200, BATON ROUGE LA 70816 |
Bruce Bruckmann | director | C/O MOHAWK INDUSTRIES INC, P O BOX 12069, CALHOUN GA 30703 |
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