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SilverBow Resources (SilverBow Resources) Owner Earnings per Share (TTM) : 5.42 (As of Mar. 2024)


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What is SilverBow Resources 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)."

SilverBow Resources's Owner Earnings per Share (TTM) ended in Mar. 2024 was $5.42. It's Price-to-Owner-Earnings ratio for today is 6.01.


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

SBOW' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 1.2   Med: 2.91   Max: 60.09
Current: 6.01


During the past 13 years, the highest Price-to-Owner-Earnings ratio of SilverBow Resources was 60.09. The lowest was 1.20. And the median was 2.91.


SBOW's Price-to-Owner-Earnings is ranked better than
66.23% of 539 companies
in the Oil & Gas industry
Industry Median: 8.72 vs SBOW: 6.01

SilverBow Resources's Earnings per Share (Diluted) for the three months ended in Mar. 2024 was $-0.61. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2024 was $7.89. It's PE Ratio ratio for today is 4.13.

SilverBow Resources's EPS without NRI for the three months ended in Mar. 2024 was $1.56. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2024 was $6.75. It's PE Ratio without NRI ratio for today is 4.82.


SilverBow Resources Owner Earnings per Share (TTM) Historical Data

The historical data trend for SilverBow Resources'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.

SilverBow Resources Owner Earnings per Share (TTM) Chart

SilverBow Resources 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 1.00 -32.99 -1.83 9.49 8.47

SilverBow Resources 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 18.77 17.74 11.01 8.47 5.42

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

For the Oil & Gas E&P subindustry, SilverBow Resources'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.


SilverBow Resources's Price-to-Owner-Earnings Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, SilverBow Resources's Price-to-Owner-Earnings distribution charts can be found below:

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



SilverBow Resources 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)

SilverBow Resources's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income 187.7
Depreciation, Depletion and Amortization 267.2
Change In Deferred Tax 51.3
5Y Average of Maintenance Capital Expenditure 370.0
Change In Working Capital 1.5
Shares Outstanding (Diluted Average) 25.4

1. Start with "Net Income" from income statement. SilverBow Resources's Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was $187.7 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. SilverBow Resources's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Mar. 2024 was $267.2 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. SilverBow Resources's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2024 was $51.3 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $370.0 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.

SilverBow Resources's 5-Year Average Maintenance Capital Expenditure = $370.0 Mil

5. "Change In Working Capital" is from cashflow statement. SilverBow Resources's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2024 was $1.5 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. SilverBow Resources's Shares Outstanding (Diluted Average) for the months ended in Mar. 2024 was 25.445 Mil.

SilverBow Resources'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
=( 187.696 +267.221+51.324
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-369.97047473242+1.524)/25.445
=5.42

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=32.55/5.42
=6.01

* 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.


SilverBow Resources Owner Earnings per Share (TTM) Related Terms

Thank you for viewing the detailed overview of SilverBow Resources's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.


SilverBow Resources (SilverBow Resources) Business Description

Industry
Traded in Other Exchanges
Address
920 Memorial City Way, Suite 850, Houston, TX, USA, 77024
SilverBow Resources Inc is an independent oil and gas company. The company is focused on acquiring and developing assets in the Eagle Ford Shale and Austin Chalk located in South Texas. The company's acreage position in each of its operating areas is highly contiguous and designed for optimal and efficient horizontal well development. Its reported oil and gas sales are comprised of revenues from oil, natural gas and natural gas liquids sales. Majority of revenue is generated from Webb County Gas field.
Executives
Strategic Value Partners, Llc director, 10 percent owner 100 WEST PUTNAM AVENUE, GREENWICH CT 06830
Marcus C Rowland director 920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024
Gabriel L Ellisor director 920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024
William Eric Schultz officer: Controller 920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024
Charles W Wampler director 920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024
Christopher M Abundis officer: EVP, CFO, GC & Sec'y 920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024
Michael Duginski director 920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024
Sean C Woolverton director, officer: CEO 920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024
Jennifer M Grigsby director 6100 N WESTERN AVENUE, POST OFFICE BOX 18496, OKLAHOMA CITY OK 73154-0496
Kathleen S Mcallister director DEEPWATER HOUSE, KINGSWELLS CAUSEWAY, PRIME FOUR BUSINESS PARK, ABERDEEN, SCOTLAND X0 AB15 8PU
Victor Khosla director, 10 percent owner 100 WEST PUTNAM AVENUE, GREENWICH CT 06830
Svp Special Situations Iii Llc director, 10 percent owner 100 WEST PUTNAM AVENUE, GREENWICH CT 06830
Svp Special Situations Iii-a Llc director, 10 percent owner 100 WEST PUTNAM AVENUE, GREENWICH CT 06830
Kimmeridge Energy Management Company, Llc 10 percent owner 15 LITTLE WEST 12TH STREET, 5TH FLOOR, NEW YORK NY 10014
Steven W Adam officer: EVP and COO 920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024