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BLLYW (Bally Total Fitness Holding) Owner Earnings per Share (TTM) : 0.00 (As of Mar. 2007)


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What is Bally Total Fitness Holding Owner Earnings per Share (TTM)?

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)."

Bally Total Fitness Holding's Owner Earnings per Share (TTM) ended in Mar. 2007 was $0.00. It's Price-to-Owner-Earnings ratio for today is 0.


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



BLLYW's Price-to-Owner-Earnings is not ranked *
in the Travel & Leisure industry.
Industry Median: 15.055
* Ranked among companies with meaningful Price-to-Owner-Earnings only.

Bally Total Fitness Holding's Earnings per Share (Diluted) for the three months ended in Jun. 2007 was $0.00. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2007 was $0.00. It's PE Ratio (TTM) ratio for today is N/A.

Bally Total Fitness Holding's EPS without NRI for the three months ended in Jun. 2007 was $0.00. Its EPS without NRI for the trailing twelve months (TTM) ended in Jun. 2007 was $0.00. It's PE Ratio without NRI ratio for today is N/A.


Bally Total Fitness Holding Owner Earnings per Share (TTM) Historical Data

The historical data trend for Bally Total Fitness Holding'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.

Bally Total Fitness Holding Owner Earnings per Share (TTM) Chart

Bally Total Fitness Holding Annual Data
Trend Dec97 Dec98 Dec99 Dec00 Dec01 Dec02 Dec03 Dec04 Dec05 Dec06
Owner Earnings per Share (TTM)
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Bally Total Fitness Holding Quarterly Data
Sep02 Dec02 Mar03 Jun03 Sep03 Dec03 Mar04 Jun04 Sep04 Dec04 Mar05 Jun05 Sep05 Dec05 Mar06 Jun06 Sep06 Dec06 Mar07 Jun07
Owner Earnings per Share (TTM) Get a 7-Day Free Trial 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 - - - - -

Competitive Comparison of Bally Total Fitness Holding's Owner Earnings per Share (TTM)

For the Leisure subindustry, Bally Total Fitness Holding's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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.


Bally Total Fitness Holding's Price-to-Owner-Earnings Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Bally Total Fitness Holding's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where Bally Total Fitness Holding's Price-to-Owner-Earnings falls into.



Bally Total Fitness Holding 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)

Bally Total Fitness Holding's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income 0.00
Depreciation, Depletion and Amortization 0.00
Change In Deferred Tax 0.00
5Y Average of Maintenance Capital Expenditure 40.31
Change In Working Capital 0.00
Shares Outstanding (Diluted Average) 0.00

1. Start with "Net Income" from income statement. Bally Total Fitness Holding's Net Income for the trailing twelve months (TTM) ended in Mar. 2007 was $0.00 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Bally Total Fitness Holding's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2007 was $0.00 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. Bally Total Fitness Holding's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2007 was $0.00 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $40.31 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 quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, 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.

Bally Total Fitness Holding's 5-Year Average Maintenance Capital Expenditure = $40.31 Mil

5. "Change In Working Capital" is from cashflow statement. Bally Total Fitness Holding's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2007 was $0.00 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. Bally Total Fitness Holding's Shares Outstanding (Diluted Average) for the months ended in Mar. 2007 was Mil.

Bally Total Fitness Holding's Onwer Earnings Per Share for Mar. 2007 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( ++
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-40.312624885392+)/
=0.00

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=0.015/0.00
=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.


Bally Total Fitness Holding Owner Earnings per Share (TTM) Related Terms

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Bally Total Fitness Holding Business Description

Comparable Companies
Traded in Other Exchanges
N/A
Address
8700 West Bryn Mawr Avenue, Chicago, IL, USA, 60631
Bally Total Fitness Holding is the largest commercial operator of fitness centers in the United States in terms of revenue, number of members, and square footage of facilities. The company operates more than 400 fitness centers with approximately 4 million members. Its fitness centers are generally 30,000 square feet in size and include such amenities as a workout area, sauna and steam facilities, a lap pool, free-weight rooms, aerobic-exercise rooms, an indoor jogging track, and racquetball courts.

Bally Total Fitness Holding Headlines

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