What is Top Union Electronics 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)."
Top Union Electronics's Owner Earnings per Share (TTM) ended in Mar. 2024 was NT$2.69. It's Price-to-Owner-Earnings ratio for today is 12.1.
The historical rank and industry rank for Top Union Electronics's Owner Earnings per Share (TTM) or its related term are showing as below:
ROCO:6266'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 3.33 Med: 8.47 Max: 53.92
Current: 12.7
During the past 13 years, the highest Price-to-Owner-Earnings ratio of Top Union Electronics was 53.92. The lowest was 3.33. And the median was 8.47.
Top Union Electronics's Earnings per Share (Diluted) for the
three
months ended in Mar. 2024 was NT$0.57.
Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2024 was NT$1.77. It's PE Ratio ratio for today is 18.36.
Top Union Electronics's EPS without NRI for the
three
months ended in Mar. 2024 was NT$0.57.
Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2024 was NT$1.77. It's PE Ratio without NRI ratio for today is 18.36.
Top Union Electronics Owner Earnings per Share (TTM) Historical Data
The historical data trend for Top Union Electronics'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.
Top Union Electronics Owner Earnings per Share (TTM) Chart
|
Top Union Electronics Annual Data
|
|
Trend |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Owner Earnings per Share (TTM) |
|
Get a 7-Day Free Trial
|
|
|
0.41 |
1.55 |
1.66 |
-2.23 |
4.07 |
|
Top Union Electronics Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Mar24 |
| Owner Earnings per Share (TTM) |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
4.07 |
5.15 |
6.28 |
5.33 |
2.69 |
Competitive Comparison of Top Union Electronics's Owner Earnings per Share (TTM)
For the Semiconductor Equipment & Materials subindustry, Top Union Electronics'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.
Top Union Electronics's Price-to-Owner-Earnings Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Top Union Electronics's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Top Union Electronics's Price-to-Owner-Earnings falls into.
Top Union Electronics 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)
Top Union Electronics's Owner Earnings per Share (TTM) Calculation:
1. Start with "Net Income" from income statement. Top Union Electronics's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was NT$259 Mil.
2. "Depreciation, Depletion and Amortization" is from cashflow statement. Top Union Electronics's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2024 was NT$99 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.
Top Union Electronics's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2024 was NT$0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = NT$100 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.
Top Union Electronics's 5-Year Average Maintenance Capital Expenditure = NT$100 Mil
5. "Change In Working Capital" is from cashflow statement. Top Union Electronics's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2024 was NT$133 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. Top Union Electronics's Shares Outstanding (Diluted Average) for the
months ended in Mar. 2024 was 145.712 Mil.
Top Union Electronics's Onwer Earnings Per Share for Mar. 2024 is calculated as:
* 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.
Top Union Electronics (ROCO:6266) Business Description
Traded in Other Exchanges
N/A
Address
No. 480, Niupu East Road, Hsinchu, TWN
Top Union Electronics Corp is principally engaged in the design, manufacture, and technical support of electronic products and communication equipment, as well as providing surface mount technology (SMT) services, processing, and international trade business.
Top Union Electronics (ROCO:6266) Headlines
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ROCO:6266 has been successfully added to your