GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Kwoon Chung Bus Holdings Ltd (HKSE:00306) » Definitions » Owner Earnings per Share (TTM)

Kwoon Chung Bus Holdings (HKSE:00306) Owner Earnings per Share (TTM) : 0.11 (As of Mar. 2024)


View and export this data going back to 1996. Start your Free Trial

What is Kwoon Chung Bus 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)."

Kwoon Chung Bus Holdings's Owner Earnings per Share (TTM) ended in Mar. 2024 was HK$0.11. It's Price-to-Owner-Earnings ratio for today is 14.64.


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

HKSE:00306' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 5.4   Med: 9.27   Max: 33.92
Current: 14.38


During the past 13 years, the highest Price-to-Owner-Earnings ratio of Kwoon Chung Bus Holdings was 33.92. The lowest was 5.40. And the median was 9.27.


HKSE:00306's Price-to-Owner-Earnings is ranked worse than
51.39% of 504 companies
in the Transportation industry
Industry Median: 13.955 vs HKSE:00306: 14.38

Kwoon Chung Bus Holdings's Earnings per Share (Diluted) for the six months ended in Mar. 2024 was HK$0.06. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2024 was HK$0.07. It's PE Ratio (TTM) ratio for today is 24.03.

Kwoon Chung Bus Holdings's EPS without NRI for the six months ended in Mar. 2024 was HK$0.06. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2024 was HK$0.07. It's PE Ratio without NRI ratio for today is 24.03.


Kwoon Chung Bus Holdings Owner Earnings per Share (TTM) Historical Data

The historical data trend for Kwoon Chung Bus 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.

Kwoon Chung Bus Holdings Owner Earnings per Share (TTM) Chart

Kwoon Chung Bus Holdings Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Owner Earnings per Share (TTM)
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.08 -0.04 -0.13 -0.03 0.11

Kwoon Chung Bus Holdings Semi-Annual Data
Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 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 -0.13 - -0.03 - 0.11

Competitive Comparison of Kwoon Chung Bus Holdings's Owner Earnings per Share (TTM)

For the Railroads subindustry, Kwoon Chung Bus 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.


Kwoon Chung Bus Holdings's Price-to-Owner-Earnings Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Kwoon Chung Bus Holdings's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where Kwoon Chung Bus Holdings's Price-to-Owner-Earnings falls into.



Kwoon Chung Bus 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)

Kwoon Chung Bus Holdings's Owner Earnings per Share (TTM) Calculation:

Last Year Average of Last 5 Years
Net Income 32
Depreciation, Depletion and Amortization 273
Change In Deferred Tax 0
5Y Average of Maintenance Capital Expenditure 142
Change In Working Capital -110
Shares Outstanding (Diluted Average) 477

1. Start with "Net Income" from income statement. Kwoon Chung Bus Holdings's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was HK$32 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. Kwoon Chung Bus Holdings's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2024 was HK$273 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. Kwoon Chung Bus Holdings's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2024 was HK$0 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = HK$142 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 year. If the revenue decreased from the previous year, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous year, 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.

Kwoon Chung Bus Holdings's 5-Year Average Maintenance Capital Expenditure = HK$142 Mil

5. "Change In Working Capital" is from cashflow statement. Kwoon Chung Bus Holdings's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2024 was HK$-110 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. Kwoon Chung Bus Holdings's Shares Outstanding (Diluted Average) for the months ended in Mar. 2024 was 476.777 Mil.

Kwoon Chung Bus 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
=( 32.087 +273.442+0
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-141.579+-110.382)/476.777
=0.11

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=1.61/0.11
=14.64

* 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.


Kwoon Chung Bus Holdings Owner Earnings per Share (TTM) Related Terms

Thank you for viewing the detailed overview of Kwoon Chung Bus Holdings's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.


Kwoon Chung Bus Holdings Business Description

Traded in Other Exchanges
N/A
Address
8 Chong Fu Road, 3rd Floor, Chai Wan, Hong Kong, HKG
Kwoon Chung Bus Holdings Ltd is engaged in transportation businesses. The company's operating segment includes a Non-franchised Bus; Limousine; Franchised Bus and PLB; Mainland China Business and Others. It generates maximum revenue from the Non-franchised bus segment. The Non-franchised bus segment includes the provision of non-franchised bus hire services in Hong Kong, cross-boundary passenger transportation services (other than limousine hire services) between Hong Kong and Mainland China, and other related services.
Executives
Cathay International Corporation 2101 Beneficial owner
Basic Faith Company Limited 2101 Beneficial owner
Infinity Faith International Company Limited 2201 Interest of corporation controlled by you
Ng Lai Yee, Christina 2202 Interest of your spouse
Wong Leung Pak Matthew 2201 Interest of corporation controlled by you

Kwoon Chung Bus Holdings Headlines

No Headlines