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Nickel 28 CapitalCONXF +0.85%38 Owner Earnings per Share (TTM) is 0.03 as of Apr. 2026. GuruFocus rates CONXF with a GF Score™ of 38/100. The stock has 1 warning sign investors should review. Among 419 Metals & Mining companies, Nickel 28 Capital ranks worse than 63.72% on this metric.
"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)."
Nickel 28 Capital's Owner Earnings per Share (TTM) ended in Apr. 2026 was $0.03. It's Price-to-Owner-Earnings ratio for today is 28.14.
The historical rank and industry rank for Nickel 28 Capital's Owner Earnings per Share (TTM) or its related term are showing as below:
CONXF'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 0 Med: 0 Max: 24.59
Current: 24.59
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.
Nickel 28 Capital Owner Earnings per Share (TTM) Related Terms
Nickel 28 Capital Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for Nickel 28 Capital'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.
Nickel 28 Capital Owner Earnings per Share (TTM) Chart
Nickel 28 Capital Owner Earnings per Share (TTM) Competitor Comparison
For the Other Industrial Metals & Mining subindustry, Nickel 28 Capital'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.
Nickel 28 Capital Price-to-Owner-Earnings vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Nickel 28 Capital's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Nickel 28 Capital's Price-to-Owner-Earnings falls into.
"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)."
1. Start with "Net Income" from income statement. Nickel 28 Capital's Net Income for the trailing twelve months (TTM) ended in Apr. 2026 was $1.94 Mil.
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.
Nickel 28 Capital's Change In Deferred Tax for the trailing twelve months (TTM) ended in Apr. 2026 was $1.07 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $0.01 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.
Nickel 28 Capital's 5-Year Average Maintenance Capital Expenditure = $0.01 Mil
5. "Change In Working Capital" is from cashflow statement. Nickel 28 Capital's Change In Working Capital for the trailing twelve months (TTM) ended in Apr. 2026 was $0.03 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.
* 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.
What does a Owner Earnings per Share (TTM) of 0.03 mean?
Nickel 28 Capital (CONXF) has a Owner Earnings per Share (TTM) of 0.03 as of Apr. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Nickel 28 Capital. According to the industry distribution chart, Nickel 28 Capital ranks #267 out of 419 companies in the Metals & Mining industry, placing it in the top 63.7%.
Is Nickel 28 Capital's Owner Earnings per Share (TTM) too high?
Nickel 28 Capital's current Owner Earnings per Share (TTM) is 0.03. The Metals & Mining industry median Owner Earnings per Share (TTM) is 15.69. Nickel 28 Capital's value of 0.03 is 99.8% below this industry median. Based on the distribution chart, Nickel 28 Capital ranks #267 out of 419 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Nickel 28 Capital has a GF Score™ of 38/100, reflecting its overall financial health beyond just this single metric.
How does Nickel 28 Capital's Owner Earnings per Share (TTM) compare to competitors?
According to the Metals & Mining industry distribution chart, Nickel 28 Capital ranks #267 out of 419 companies for Owner Earnings per Share (TTM). This places Nickel 28 Capital in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 15.69. Nickel 28 Capital's value of 0.03 is 99.8% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a Metals & Mining company?
The median Owner Earnings per Share (TTM) among Metals & Mining companies is 15.69, based on 419 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nickel 28 Capital's current Owner Earnings per Share (TTM) of 0.03 is 99.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Nickel 28 Capital. For the Metals & Mining industry, the median Owner Earnings per Share (TTM) is 15.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nickel 28 Capital's current Owner Earnings per Share (TTM) is 0.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nickel 28 Capital stock overvalued right now?
Nickel 28 Capital (CONXF) has a current Owner Earnings per Share (TTM) of 0.03. The current Owner Earnings per Share (TTM) is 0.03 and 99.8% below the Metals & Mining industry median of 15.69. Nickel 28 Capital's overall GF Score™ is 38/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Nickel 28 Capital (CONXF), the current Owner Earnings per Share (TTM) is 0.03 as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Nickel 28 Capital Corp is a base metals company offering direct exposure to nickel and cobalt. The Company holds a joint-venture interest in the producing Ramu Nickel-Cobalt Operation in Papua New Guinea and manages a portfolio of nickel and cobalt royalties in projects in Canada, Australia, and Papua New Guinea, including royalties in the Dumont nickel project in Quebec and the Turnagain nickel project in British Columbia. The Company is engaged in the management and acquisition of joint venture and royalty interests in the nickel and cobalt sectors. Its primary focus is on opportunities that could provide shareholders with near-term cash flow and royalties on production and exploration-stage nickel and/or cobalt properties. The Company operates in Canada and Asia Pacific.
38GF Score
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