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"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)."
Milton Industries's Owner Earnings per Share (TTM) ended in Mar. 2024 was ₹0.00. It's Price-to-Owner-Earnings ratio for today is 0.
The historical rank and industry rank for Milton Industries's Owner Earnings per Share (TTM) or its related term are showing as below:
NSE:MILTON's Price-to-Owner-Earnings is not ranked *
in the Forest Products industry.
Industry Median: 15.815 * Ranked among companies with meaningful Price-to-Owner-Earnings only.
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.
Milton Industries Owner Earnings per Share (TTM) Related Terms
Milton Industries Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for Milton Industries'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.
Milton Industries Owner Earnings per Share (TTM) Chart
NSE:MILTON vs SSD, UFPI, BCC: Owner Earnings per Share (TTM) Comparison
For the Lumber & Wood Production subindustry, Milton Industries'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.
Milton Industries Price-to-Owner-Earnings vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Milton Industries's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Milton Industries'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)."
1. Start with "Net Income" from income statement. Milton Industries's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was ₹31.9 Mil.
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.
Milton Industries's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2024 was ₹0.0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = ₹8.5 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.
Milton Industries's 5-Year Average Maintenance Capital Expenditure = ₹8.5 Mil
5. "Change In Working Capital" is from cashflow statement. Milton Industries's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2024 was ₹-48.2 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 0.00 mean?
Milton Industries (NSE:MILTON) has a Owner Earnings per Share (TTM) of 0.00 as of Mar. 2024. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Milton Industries.
Is Milton Industries' Owner Earnings per Share (TTM) too high?
Milton Industries' current Owner Earnings per Share (TTM) is 0.00. Overall, Milton Industries has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.
How does Milton Industries' Owner Earnings per Share (TTM) compare to SSD and UFPI?
Milton Industries' Owner Earnings per Share (TTM) of 0.00 can be compared against companies in the Forest Products industry. The industry median Owner Earnings per Share (TTM) is 15.82. 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 Forest Products company?
The median Owner Earnings per Share (TTM) among Forest Products companies is 15.82, based on 102 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. 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 Milton Industries. For the Forest Products industry, the median Owner Earnings per Share (TTM) is 15.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Milton Industries's current Owner Earnings per Share (TTM) is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Milton Industries stock overvalued right now?
Milton Industries (NSE:MILTON) has a current Owner Earnings per Share (TTM) of 0.00. The current Owner Earnings per Share (TTM) is 0.00. Milton Industries' overall GF Score™ is 4/100. 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 Milton Industries (NSE:MILTON), the current Owner Earnings per Share (TTM) is 0.00 as of Mar. 2024. 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.
Milton Industries Ltd is engaged in the manufacturing of laminated sheets and other allied products. The firm produces artificial leather cloth and glass fiber reinforced epoxy (GFRE) sheets. It also manufactures, exports high-pressure laminates, industrial laminates, laminated boards, flooring laminates, artificial leather cloth, and other products. The business operates in three segments: Laminate, Rexine, and GFRE, of which the majority of the revenue comes from the GFRE division. The company's products are applicable on walls, doors, windows, cupboards, tabletops, hotels, cash counters and home kitchens. The majority of the revenue comes from the Indian market.
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