Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
President Chain StoreTPE:2912 89 Owner Earnings per Share (TTM) is 22.84 as of Jun. 2026. GuruFocus rates TPE:2912 with a GF Score™ of 89/100 and a GF Value™ of NT$282.99 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 164 Retail - Defensive companies, President Chain Store ranks better than 58.54% on this metric.
"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)."
President Chain Store's Owner Earnings per Share (TTM) ended in Jun. 2026 was NT$22.84. It's Price-to-Owner-Earnings ratio for today is 9.79.
The historical rank and industry rank for President Chain Store's Owner Earnings per Share (TTM) or its related term are showing as below:
TPE:2912'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 7.71 Med: 11.44 Max: 31.7
Current: 9.79
TPE:2912's Price-to-Owner-Earnings is ranked better than 58.54% of 164
companies
in the Retail - Defensive industry
Industry Median: 12.045
vs TPE:2912: 9.79
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.
President Chain Store Owner Earnings per Share (TTM) Related Terms
President Chain Store Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for President Chain Store'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.
President Chain Store Owner Earnings per Share (TTM) Chart
TPE:2912 vs KR, SFM: Owner Earnings per Share (TTM) Comparison
For the Grocery Stores subindustry, President Chain Store'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.
President Chain Store Price-to-Owner-Earnings vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, President Chain Store's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where President Chain Store'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)."
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.
President Chain Store's Change In Deferred Tax for the trailing twelve months (TTM) ended in Jun. 2026 was NT$0 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = NT$11,272 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.
President Chain Store's 5-Year Average Maintenance Capital Expenditure = NT$11,272 Mil
5. "Change In Working Capital" is from cashflow statement. President Chain Store's Change In Working Capital for the trailing twelve months (TTM) ended in Jun. 2026 was NT$-3,800 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 22.84 mean?
President Chain Store (TPE:2912) has a Owner Earnings per Share (TTM) of 22.84 as of Jun. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on President Chain Store. According to the industry distribution chart, President Chain Store ranks #68 out of 164 companies in the Retail - Defensive industry, placing it in the top 41.5%.
Is President Chain Store's Owner Earnings per Share (TTM) too high?
President Chain Store's current Owner Earnings per Share (TTM) is 22.84. The Retail - Defensive industry median Owner Earnings per Share (TTM) is 12.05. President Chain Store's value of 22.84 is 89.6% above this industry median. Based on the distribution chart, President Chain Store ranks #68 out of 164 companies in the Retail - Defensive industry, which is above the industry midpoint. Overall, President Chain Store has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does President Chain Store's Owner Earnings per Share (TTM) compare to KR and SFM?
According to the Retail - Defensive industry distribution chart, President Chain Store ranks #68 out of 164 companies for Owner Earnings per Share (TTM). This puts President Chain Store in the upper half of its industry. The industry median Owner Earnings per Share (TTM) is 12.05. President Chain Store's value of 22.84 is 89.6% above this benchmark. 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 Retail - Defensive company?
The median Owner Earnings per Share (TTM) among Retail - Defensive companies is 12.05, based on 164 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. President Chain Store's current Owner Earnings per Share (TTM) of 22.84 is 89.6% above the industry median. 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 President Chain Store. For the Retail - Defensive industry, the median Owner Earnings per Share (TTM) is 12.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. President Chain Store's current Owner Earnings per Share (TTM) is 22.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is President Chain Store stock overvalued right now?
Based on GuruFocus' analysis, President Chain Store (TPE:2912) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$282.99, compared to a current price of NT$223.50 — trading 21% below its estimated fair value. The current Owner Earnings per Share (TTM) is 22.84 and 89.6% above the Retail - Defensive industry median of 12.05. President Chain Store's overall GF Score™ is 89/100 with 6 warning signs to review. 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 President Chain Store (TPE:2912), the current Owner Earnings per Share (TTM) is 22.84 as of Jun. 2026. 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.
Is President Chain Store (TPE:2912) Overvalued in 2026?
Based on GuruFocus' analysis, President Chain Store stock appears to be undervalued.
The current stock price of NT$223.50 is trading 21% below its estimated GF Value™ of NT$282.99.
GuruFocus considers President Chain Store to be Modestly Undervalued.
Key valuation signals for TPE:2912:
Owner Earnings per Share (TTM): 22.84
GF Value™: NT$282.99 vs. price of NT$223.50 (21% below fair value)
Industry Position: 89.6% above the Retail - Defensive median (#68 of 164)
No single metric tells the full story. See the TPE:2912 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
President Chain Store Corporation, along with its subsidiaries, is engaged in managing convenience stores, restaurants, drugstores, department stores, supermarkets, and online shopping stores under different brands. Its offerings include food, beverages, coffee, daily commodities, cosmetics and health care products. The group operates in Taiwan, Mainland China, the Philippines, and Japan. Its reportable segments are Convenience stores, Retail business group, Logistics business group, and Others. The majority of the company's revenue is derived from the Convenience Stores segment. Geographically, the company derives the maximum revenue from Taiwan, followed by other regions.
89GF Score
Get the complete analysis for TPE:2912
Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:2912 has been successfully added to your 
