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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
"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)."
China Tobacco International (HK) Co does not have enough data to calculate Owner Earnings per Share (TTM), so as Price-to-Owner-Earnings ratio.
The historical rank and industry rank for China Tobacco International (HK) Co's Owner Earnings per Share (TTM) or its related term are showing as below:
CTOBF'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 12.62 Med: 29.05 Max: 107.22
Current: 15.23
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 FactSet. 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.
China Tobacco International (HK) Co Owner Earnings per Share (TTM) Related Terms
China Tobacco International (HK) Co Owner Earnings per Share (TTM) Historical Data
* 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.
China Tobacco International (HK) Co Owner Earnings per Share (TTM) Chart
CTOBF vs PM, MO, TPB: Owner Earnings per Share (TTM) Comparison
For the Tobacco subindustry, China Tobacco International (HK) Co'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.
China Tobacco International (HK) Co Price-to-Owner-Earnings vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, China Tobacco International (HK) Co's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where China Tobacco International (HK) Co'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)."
What does a Owner Earnings per Share (TTM) of 0.13 mean?
China Tobacco International (HK) Co (CTOBF) has a Owner Earnings per Share (TTM) of 0.13 as of Dec. 2025. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on China Tobacco International (HK) Co. According to the industry distribution chart, China Tobacco International (HK) Co ranks #16 out of 26 companies in the Tobacco Products industry, placing it in the top 61.5%.
Is China Tobacco International (HK) Co's Owner Earnings per Share (TTM) too high?
China Tobacco International (HK) Co's current Owner Earnings per Share (TTM) is 0.13. The Tobacco Products industry median Owner Earnings per Share (TTM) is 14.13. China Tobacco International (HK) Co's value of 0.13 is 99.1% below this industry median. Based on the distribution chart, China Tobacco International (HK) Co ranks #16 out of 26 companies in the Tobacco Products industry, which is below the industry midpoint. Overall, China Tobacco International (HK) Co has a GF Score™ of 88/100, reflecting its overall financial health beyond just this single metric.
How does China Tobacco International (HK) Co's Owner Earnings per Share (TTM) compare to PM and MO?
According to the Tobacco Products industry distribution chart, China Tobacco International (HK) Co ranks #16 out of 26 companies for Owner Earnings per Share (TTM). This places China Tobacco International (HK) Co in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 14.13. China Tobacco International (HK) Co's value of 0.13 is 99.1% 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 Tobacco Products company?
The median Owner Earnings per Share (TTM) among Tobacco Products companies is 14.13, based on 26 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. China Tobacco International (HK) Co's current Owner Earnings per Share (TTM) of 0.13 is 99.1% 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 China Tobacco International (HK) Co. For the Tobacco Products industry, the median Owner Earnings per Share (TTM) is 14.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Tobacco International (HK) Co's current Owner Earnings per Share (TTM) is 0.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Tobacco International (HK) Co stock overvalued right now?
China Tobacco International (HK) Co (CTOBF) has a current Owner Earnings per Share (TTM) of 0.13. The stock's GF Value™ is $1.93, compared to a current price of $2.05 — trading 6.2% above its estimated fair value. The current Owner Earnings per Share (TTM) is 0.13 and 99.1% below the Tobacco Products industry median of 14.13. China Tobacco International (HK) Co's overall GF Score™ is 88/100 with 2 warning signs 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 China Tobacco International (HK) Co (CTOBF), the current Owner Earnings per Share (TTM) is 0.13 as of Dec. 2025. 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.
Is China Tobacco International (HK) Co (CTOBF) Overvalued in 2026?
Based on GuruFocus' analysis, China Tobacco International (HK) Co stock appears to be overvalued.
The current stock price of $2.05 is trading 6.2% above its estimated GF Value™ of $1.93.
Key valuation signals for CTOBF:
Owner Earnings per Share (TTM): 0.13
GF Value™: $1.93 vs. price of $2.05 (6.2% above fair value)
Industry Position: 99.1% below the Tobacco Products median (#16 of 26)
No single metric tells the full story. See the CTOBF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Tobacco International (HK) Co Ltd is engaged in the tobacco business. It operates through various segments namely the Tobacco Leaf Products Export Business, the Tobacco Leaf Product Import Business, the Cigarettes Export Business, the New Tobacco Product Export Business, and the Brazil Operation Business. The company's geographical segments are China (excluding the SARs), Indonesia, Korea, Hong Kong, Philippines, Vietnam, Brazil, Belgium, Poland, Paraguay, Egypt, and others, of which it derives maximum revenue from the PRC. It earns maximum revenue from the Tobacco Leaf Product Import Business.
88GF Score
Get the complete analysis for CTOBF
Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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