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NewtekOne (NewtekOne) Owner Earnings per Share (TTM) : 1.90 (As of Mar. 2024)


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What is NewtekOne 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)."

NewtekOne's Owner Earnings per Share (TTM) ended in Mar. 2024 was $1.90. It's Price-to-Owner-Earnings ratio for today is 7.2.


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

NEWT' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 2.82   Med: 10.37   Max: 102.11
Current: 7.21


During the past 13 years, the highest Price-to-Owner-Earnings ratio of NewtekOne was 102.11. The lowest was 2.82. And the median was 10.37.


NEWT's Price-to-Owner-Earnings is ranked better than
57.49% of 995 companies
in the Banks industry
Industry Median: 8.22 vs NEWT: 7.21

NewtekOne's Earnings per Share (Diluted) for the three months ended in Mar. 2024 was $0.38. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2024 was $1.80. It's PE Ratio ratio for today is 7.60.

NewtekOne's EPS without NRI for the three months ended in Mar. 2024 was $0.42. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2024 was $1.85. It's PE Ratio without NRI ratio for today is 7.40.


NewtekOne Owner Earnings per Share (TTM) Historical Data

The historical data trend for NewtekOne'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.

NewtekOne Owner Earnings per Share (TTM) Chart

NewtekOne Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Owner Earnings per Share (TTM)
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.02 1.25 9.24 -0.57 -1.53

NewtekOne 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 -3.23 -2.70 0.91 -1.53 1.90

Competitive Comparison of NewtekOne's Owner Earnings per Share (TTM)

For the Banks - Regional subindustry, NewtekOne'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.


NewtekOne's Price-to-Owner-Earnings Distribution in the Banks Industry

For the Banks industry and Financial Services sector, NewtekOne's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where NewtekOne's Price-to-Owner-Earnings falls into.



NewtekOne 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)

NewtekOne's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income 45.3
Depreciation, Depletion and Amortization 2.6
Change In Deferred Tax 9.5
5Y Average of Maintenance Capital Expenditure 0.2
Change In Working Capital -11.0
Shares Outstanding (Diluted Average) 24.4

1. Start with "Net Income" from income statement. NewtekOne's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was $45.3 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. NewtekOne's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2024 was $2.6 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. NewtekOne's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2024 was $9.5 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $0.2 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.

NewtekOne's 5-Year Average Maintenance Capital Expenditure = $0.2 Mil

5. "Change In Working Capital" is from cashflow statement. NewtekOne's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2024 was $-11.0 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. NewtekOne's Shares Outstanding (Diluted Average) for the months ended in Mar. 2024 was 24.358 Mil.

NewtekOne'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
=( 45.262 +2.625+9.452
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-0.17509519198484+-10.952)/24.358
=1.90

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=13.675/1.90
=7.2

* 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.


NewtekOne Owner Earnings per Share (TTM) Related Terms

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NewtekOne (NewtekOne) Business Description

Industry
Traded in Other Exchanges
Address
4800 T Rex Avenue, Suite 120, Boca Raton, FL, USA, 33431
NewtekOne Inc is a financial holding company engaged in providing financial solutions, It has developed a financial and technology-based business model that enables itself to acquire and process its clients in a very cost-effective manner. This capability is supported in large part by NewTracker, its patented prospect management technology software, that will allow NewtekOne clients to easily interact with NewtekOne subject matter experts in the areas of Banking, Lending, Payments, Technology, Payroll, and Insurance. It offers NewtekOne's clients a single online dashboard to access all of NewtekOne's business and financial solutions.
Executives
Salvatore Francis Mulia director 4 WHITNEY STREET EXTENSION, WESTPORT CT 06880
Barry Sloane director, officer: CEO and President
Richard J Salute director P O BOX 306, WOODBURY NY 11797
Gregory L Zink director 1981 MARCUS AVENUE, SUITE 130, LAKE SUCCESS NY 11042
Peter Mathison Downs director 1440 PINEACRES BLVD, BAY SHORE NY 11706
Michael Scott Price officer: Chief Financial Officer 200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Fernando Perez-hickman director 200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Nicholas J Leger officer: Chief Accounting Officer 348 ALFRED STREET, NORTH BABYLON NY 11703
Michael Adam Schwartz officer: Chief Legal Officer, Secretary C/O NEWTEK BUSINESS SERVICES INC, 462 SEVENTH AVENUE, 14TH FLOOR, NEW YORK NY 10018
Halli Razon-feingold director 4800 T-REX AVENUE, SUITE 120, BOCA RATON FL 33019
Nicolas Young officer: Chief Risk Officer 200 WEST CONGRESS STREET, LAFAYETTE LA 70501
Christopher Towers officer: Chief Accounting Officer 1981 MARCUS AVENUE, SUITE 130, LAKE SUCCESS NY 11042
Sam Kirschner director 60 EAST 8TH STREET, #20K, NEW YORK NY 10003
Nilesh Joshi officer: Chief Information Officer 5617 W. MOLLY LANE, PHOENIX AZ 85083
John Raven officer: Chief Info. Security Officer