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DHT HoldingsMEX:DHTN 61 Owner Earnings per Share (TTM) is 45.11 as of Jun. 2026, which is 414% above its 10-year median of 8.78. GuruFocus rates MEX:DHTN with a GF Score™ of 61/100 and a GF Value™ of MXN245.85. The stock has 4 warning signs investors should review. Among 460 Oil & Gas companies, DHT Holdings ranks better than 68.91% 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)."
DHT Holdings's Owner Earnings per Share (TTM) ended in Jun. 2026 was MXN45.11. It's Price-to-Owner-Earnings ratio for today is 6.89.
The historical rank and industry rank for DHT Holdings's Owner Earnings per Share (TTM) or its related term are showing as below:
MEX:DHTN'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 2.6 Med: 8.78 Max: 35.03
Current: 6.89
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.
DHT Holdings Owner Earnings per Share (TTM) Related Terms
DHT Holdings Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for DHT 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.
MEX:DHTN vs TNK, KNTK, SUNC: Owner Earnings per Share (TTM) Comparison
For the Oil & Gas Midstream subindustry, DHT 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.
DHT Holdings Price-to-Owner-Earnings vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, DHT Holdings's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where DHT Holdings'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)."
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.
DHT Holdings's Change In Deferred Tax for the trailing twelve months (TTM) ended in Jun. 2026 was MXN0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = MXN1,805 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.
DHT Holdings's 5-Year Average Maintenance Capital Expenditure = MXN1,805 Mil
5. "Change In Working Capital" is from cashflow statement. DHT Holdings's Change In Working Capital for the trailing twelve months (TTM) ended in Jun. 2026 was MXN-792 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 45.11 mean?
DHT Holdings (MEX:DHTN) has a Owner Earnings per Share (TTM) of 45.11 as of Jun. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on DHT Holdings. This is 414% above median its historical median of 8.78. Over the past decade, DHT Holdings' Owner Earnings per Share (TTM) has ranged from 2.60 to 35.03. According to the industry distribution chart, DHT Holdings ranks #143 out of 460 companies in the Oil & Gas industry, placing it in the top 31.1%.
Is DHT Holdings' Owner Earnings per Share (TTM) too high?
DHT Holdings' current Owner Earnings per Share (TTM) of 45.11 is 414% above median its 10-year median of 8.78. Over the past 10 years, this metric has ranged from a low of 2.60 to a high of 35.03. The Oil & Gas industry median Owner Earnings per Share (TTM) is 10.81. DHT Holdings' value of 45.11 is 317.5% above this industry median. Based on the distribution chart, DHT Holdings ranks #143 out of 460 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, DHT Holdings has a GF Score™ of 61/100, reflecting its overall financial health beyond just this single metric.
How does DHT Holdings' Owner Earnings per Share (TTM) compare to TNK and KNTK?
According to the Oil & Gas industry distribution chart, DHT Holdings ranks #143 out of 460 companies for Owner Earnings per Share (TTM). This puts DHT Holdings in the upper half of its industry. The industry median Owner Earnings per Share (TTM) is 10.81. DHT Holdings' value of 45.11 is 317.5% above this benchmark. Historically, DHT Holdings' own Owner Earnings per Share (TTM) has ranged from 2.60 to 35.03 over the past decade. While the company's 10-year median is 8.78 vs. the industry median of 10.81, DHT Holdings has consistently been above the industry average. 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 an Oil & Gas company?
The median Owner Earnings per Share (TTM) among Oil & Gas companies is 10.81, based on 460 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. DHT Holdings's current Owner Earnings per Share (TTM) of 45.11 is 317.5% above 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 DHT Holdings. For the Oil & Gas industry, the median Owner Earnings per Share (TTM) is 10.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. DHT Holdings's current Owner Earnings per Share (TTM) is 45.11, which is 414% above median its own 10-year median of 8.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DHT Holdings stock overvalued right now?
DHT Holdings (MEX:DHTN) has a current Owner Earnings per Share (TTM) of 45.11. The stock's GF Value™ is MXN245.85, compared to a current price of MXN311.00 — trading 26.5% above its estimated fair value. The current Owner Earnings per Share (TTM) is 45.11, which is 414% above median its 10-year median of 8.78 and 317.5% above the Oil & Gas industry median of 10.81. DHT Holdings' overall GF Score™ is 61/100 with 4 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 DHT Holdings (MEX:DHTN), the current Owner Earnings per Share (TTM) is 45.11 as of Jun. 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.
Is DHT Holdings (MEX:DHTN) Overvalued in 2026?
Based on GuruFocus' analysis, DHT Holdings stock appears to be overvalued.
The current stock price of MXN311.00 is trading 26.5% above its estimated GF Value™ of MXN245.85.
Key valuation signals for MEX:DHTN:
Owner Earnings per Share (TTM): 45.11 (414% above median its 10-year median of 8.78)
GF Value™: MXN245.85 vs. price of MXN311.00 (26.5% above fair value)
Industry Position: 317.5% above the Oil & Gas median (#143 of 460)
No single metric tells the full story. See the MEX:DHTN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
DHT Holdings Inc is a crude oil tanker company. The company's primary business is operating a fleet of crude oil tankers, with a secondary activity of providing technical management services. Its fleet trades internationally and consists of VLCC crude oil tankers. The group generates revenues from time charter and spot market operations. It operates vessels through its subsidiary management companies in Monaco, Norway, Singapore, and India. The company generates the majority of its revenue from Voyage charter revenues.
61GF Score
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