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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)."
Oxford Square Capital does not have enough data to calculate Owner Earnings per Share (TTM), so as Price-to-Owner-Earnings ratio.
The historical rank and industry rank for Oxford Square Capital's Owner Earnings per Share (TTM) or its related term are showing as below:
Oxford Square Capital's Earnings per Share (Diluted) for the three months ended in Sep. 2024 was $-0.01. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2024 was $0.10. It's PE Ratio (TTM) ratio for today is 28.40.
Oxford Square Capital's EPS without NRI for the three months ended in Sep. 2024 was $-0.01. Its EPS without NRI for the trailing twelve months (TTM) ended in Sep. 2024 was $0.10. It's PE Ratio without NRI ratio for today is 28.40.
The historical data trend for Oxford Square Capital'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.
Oxford Square Capital Annual Data | |||||||||||||||||||||
Trend | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||||
Owner Earnings per Share (TTM) | Get a 7-Day Free Trial |
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Oxford Square Capital Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Owner Earnings per Share (TTM) | Get a 7-Day Free Trial |
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For the Asset Management subindustry, Oxford Square Capital'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.
For the Asset Management industry and Financial Services sector, Oxford Square Capital's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Oxford Square Capital's Price-to-Owner-Earnings falls into.
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)
Oxford Square Capital does not have enough data to calculate Owner Earnings per Share (TTM). Please check Wal-Mart Stores Inc, as your reference.
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.
Thank you for viewing the detailed overview of Oxford Square Capital's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.
Saul B Rosenthal | officer: COO, Secretary and Treasurer | 8 SOUND SHORE DR STE 215, GREENWICH CT 06830 |
Jonathan H Cohen | director, officer: CEO, President and Director | 8 SOUND SHORE DR STE 215, GREENWICH CT 06830 |
Barry Osherow | director | 8 SOUND SHORE DRIVE, SUITE 255, GREENWICH CT 06830 |
Steven P Novak | director | 3031 TISCH WAY, STE 900, SAN JOSE CA 95128 |
George Iii Stelljes | director | C/O GLADSTONE CAPITAL CORP, 1521 WESTBRANCH DRIVE SUITE 200, MCLEAN VA 22102 |
Richard W Neu | director | 1100 WILSON BOULEVARD, SUITE 3000, ARLINGTON VA 22209 |
Bruce L. Rubin | officer: CFO, CAO, SEC, TREAS | TICC CAPITAL CORP., 8 SOUND SHORE DRIVE, SUITE 255, GREENWICH CT 06830 |
Gerald Cummins | officer: Chief Compliance Officer | C/O OXFORD LANE CAPITAL CORP., 8 SOUND SHORE DRIVE, SUITE 255, GREENWICH CT 06830 |
Patrick Conroy | officer: Chief Financial Officer | 8 SOUND SHORE DRIVE STE 215, GREENWICH CT 06830 |
Tonia L Pankopf | director | 8 SOUND SHORE DR STE 215, GREENWICH CT 06830 |
Charles M Royce | director | C/O ROYCE & ASSOCIATES, LLC, 745 FIFTH AVENUE, NEW YORK NY 10151 |
G Peter Obrien | director | C/O ROYCE & ASSOCIATES, LLC, 745 FIFTH AVENUE, NEW YORK NY 10151 |
Lee D Stern | officer: Executive Vice President | C/O AECOM TECHNOLOGY CORPORATION, 555 S. FLOWER STREET, SUITE 3700, LOS ANGELES CA 90071 |
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