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Dun & Bradstreet Holdings (Dun & Bradstreet Holdings) Owner Earnings per Share (TTM) : 0.39 (As of Mar. 2024)


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What is Dun & Bradstreet Holdings 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)."

Dun & Bradstreet Holdings's Owner Earnings per Share (TTM) ended in Mar. 2024 was $0.39. It's Price-to-Owner-Earnings ratio for today is 26.82.


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

DNB' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 15.23   Med: 24.06   Max: 38.79
Current: 27.28


During the past 7 years, the highest Price-to-Owner-Earnings ratio of Dun & Bradstreet Holdings was 38.79. The lowest was 15.23. And the median was 24.06.


DNB's Price-to-Owner-Earnings is ranked worse than
68.42% of 342 companies
in the Capital Markets industry
Industry Median: 16.685 vs DNB: 27.28

Dun & Bradstreet Holdings's Earnings per Share (Diluted) for the three months ended in Mar. 2024 was $-0.05. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2024 was $-0.08. It's PE Ratio ratio for today is At Loss.

Dun & Bradstreet Holdings's EPS without NRI for the three months ended in Mar. 2024 was $0.20. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2024 was $1.01. It's PE Ratio without NRI ratio for today is 10.36.


Dun & Bradstreet Holdings Owner Earnings per Share (TTM) Historical Data

The historical data trend for Dun & Bradstreet Holdings'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.

Dun & Bradstreet Holdings Owner Earnings per Share (TTM) Chart

Dun & Bradstreet Holdings Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Owner Earnings per Share (TTM)
Get a 7-Day Free Trial - - - - 0.47

Dun & Bradstreet Holdings Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 - 0.66 0.31 0.47 0.39

Competitive Comparison of Dun & Bradstreet Holdings's Owner Earnings per Share (TTM)

For the Financial Data & Stock Exchanges subindustry, Dun & Bradstreet Holdings'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.


Dun & Bradstreet Holdings's Price-to-Owner-Earnings Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Dun & Bradstreet Holdings's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where Dun & Bradstreet Holdings's Price-to-Owner-Earnings falls into.



Dun & Bradstreet Holdings 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)

Dun & Bradstreet Holdings's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income -37
Depreciation, Depletion and Amortization 585
Change In Deferred Tax -140
5Y Average of Maintenance Capital Expenditure 163
Change In Working Capital -78
Shares Outstanding (Diluted Average) 432

1. Start with "Net Income" from income statement. Dun & Bradstreet Holdings's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was $-37 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Dun & Bradstreet Holdings's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2024 was $585 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. Dun & Bradstreet Holdings's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2024 was $-140 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $163 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.

Dun & Bradstreet Holdings's 5-Year Average Maintenance Capital Expenditure = $163 Mil

5. "Change In Working Capital" is from cashflow statement. Dun & Bradstreet Holdings's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2024 was $-78 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. Dun & Bradstreet Holdings's Shares Outstanding (Diluted Average) for the months ended in Mar. 2024 was 431.556 Mil.

Dun & Bradstreet Holdings's Onwer Earnings Per Share for Mar. 2024 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( -36.5 +585.4+-139.5
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-163.022710304+-78.1)/431.556
=0.39

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=10.46/0.39
=26.82

* 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.


Dun & Bradstreet Holdings Owner Earnings per Share (TTM) Related Terms

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Dun & Bradstreet Holdings (Dun & Bradstreet Holdings) Business Description

Traded in Other Exchanges
N/A
Address
5335 Gate Parkway, Jacksonville, FL, USA, 32256
Dun & Bradstreet Holdings Inc is a provider of business decisioning data and analytics. The company operates in two segments: North America, which offers Finance & Risk and Sales & Marketing data, analytics, and business insights in the United States and Canada; and International, which offers Finance & Risk and Sales & Marketing data, analytics, and business insights directly in the U.K, Europe, Greater China, India and indirectly through its WWN alliances. The company generates maximum revenue from the North American region. Other services provided by the company include digital marketing, sales acceleration, and risk management among others.
Executives
Thomas H. Lee Equity Fund Viii, L.p. director, 10 percent owner C/O THOMAS H. LEE PARTNERS, L.P., 100 FEDERAL STREET, BOSTON MA 02110
Thomas H. Lee Advisors, Llc director, 10 percent owner C/O THOMAS H. LEE PARTNERS, L.P., 100 FEDERAL STREET, 35TH FLOOR, BOSTON MA 02110
Anthony Jr Pietrontone officer: Chief Accounting Officer C/O DUN & BRADSTREET HOLDINGS, INC., 5335 GATE PARKWAY, JACKSONVILLE FL 32256
Kirsten Marie Kliphouse director 531 SOUTH SPRING STREET, BURLINGTON NC 27215
Bryan T. Hipsher officer: Chief Financial Officer C/O DUN & BRADSTREET HOLDINGS, INC., 5335 GATE PARKWAY, JACKSONVILLE FL 32256
Foley William P Ii director, 10 percent owner, other: Chairman of the Board FIDELITY NATIONAL FINANCIAL, INC., 601 RIVERSIDE AVENUE, JACKSONVILLE FL 32204
Anthony M Jabbour director, officer: Chief Executive Officer 601 RIVERSIDE AVE, JACKSONVILLE FL 32204
Richard N Massey director 900 S. SHACKLEFORD ROAD, SUITE 401, LITTLE ROCK AR 72211
Virginia Green Gomez officer: President, North America 5335 GATE PKWY, JACKSONVILLE FL 32256
Cannae Holdings, Inc. director, 10 percent owner C/O CANNAE HOLDINGS, INC., 1701 VILLAGE CENTER CIRCLE, LAS VEGAS NV 89134
Chinh Chu director, 10 percent owner THE BLACKSTONE GROUP, 345 PARK AVENUE, NEW YORK NY 10154
Thl Equity Fund Viii Investors (d&b), L.p. director, 10 percent owner C/O THOMAS H. LEE PARTNERS, L.P., 100 FEDERAL STREET, 35TH FLOOR, BOSTON MA 02110
Black Knight Financial Services, Inc. director, 10 percent owner 601 RIVERSIDE AVENUE, JACKSONVILLE FL 32204
Dnb Holdco, Llc director, 10 percent owner 1701 VILLAGE CENTER CIRCLE, LAS VEGAS NV 89134
Black Knight, Inc. director, 10 percent owner 601 RIVERSIDE AVENUE, JACKSONVILLE FL 32204