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Great Taipei GasTPE:9908 +0.17%86 Owner Earnings per Share (TTM) is 2.75 as of Jun. 2026, which is 81% below its 10-year median of 14.76. GuruFocus rates TPE:9908 with a GF Score™ of 86/100 and a GF Value™ of NT$30.46 (Fairly Valued). The stock has 5 warning signs investors should review. Among 248 Utilities - Regulated companies, Great Taipei Gas ranks better than 66.53% 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)."
Great Taipei Gas's Owner Earnings per Share (TTM) ended in Jun. 2026 was NT$2.75. It's Price-to-Owner-Earnings ratio for today is 10.62.
The historical rank and industry rank for Great Taipei Gas's Owner Earnings per Share (TTM) or its related term are showing as below:
TPE:9908'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 7.07 Med: 14.76 Max: 32.41
Current: 10.63
TPE:9908's Price-to-Owner-Earnings is ranked better than 66.53% of 248
companies
in the Utilities - Regulated industry
Industry Median: 17.085
vs TPE:9908: 10.63
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.
Great Taipei Gas Owner Earnings per Share (TTM) Related Terms
Great Taipei Gas Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for Great Taipei Gas'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.
Great Taipei Gas Owner Earnings per Share (TTM) Chart
TPE:9908 vs ATO, NI, UGI: Owner Earnings per Share (TTM) Comparison
For the Utilities - Regulated Gas subindustry, Great Taipei Gas'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.
Great Taipei Gas Price-to-Owner-Earnings vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Great Taipei Gas's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Great Taipei Gas'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. Great Taipei Gas's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was NT$1,053 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.
Great Taipei Gas'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$447 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.
Great Taipei Gas's 5-Year Average Maintenance Capital Expenditure = NT$447 Mil
5. "Change In Working Capital" is from cashflow statement. Great Taipei Gas's Change In Working Capital for the trailing twelve months (TTM) ended in Jun. 2026 was NT$319 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 2.75 mean?
Great Taipei Gas (TPE:9908) has a Owner Earnings per Share (TTM) of 2.75 as of Jun. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Great Taipei Gas. This is 81% below median its historical median of 14.76. Over the past decade, Great Taipei Gas' Owner Earnings per Share (TTM) has ranged from 7.07 to 32.41. According to the industry distribution chart, Great Taipei Gas ranks #83 out of 248 companies in the Utilities - Regulated industry, placing it in the top 33.5%.
Is Great Taipei Gas' Owner Earnings per Share (TTM) too high?
Great Taipei Gas' current Owner Earnings per Share (TTM) of 2.75 is 81% below median its 10-year median of 14.76. Over the past 10 years, this metric has ranged from a low of 7.07 to a high of 32.41. The Utilities - Regulated industry median Owner Earnings per Share (TTM) is 17.09. Great Taipei Gas' value of 2.75 is 83.9% below this industry median. Based on the distribution chart, Great Taipei Gas ranks #83 out of 248 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Great Taipei Gas has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Great Taipei Gas' Owner Earnings per Share (TTM) compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Great Taipei Gas ranks #83 out of 248 companies for Owner Earnings per Share (TTM). This puts Great Taipei Gas in the upper half of its industry. The industry median Owner Earnings per Share (TTM) is 17.09. Great Taipei Gas' value of 2.75 is 83.9% below this benchmark. Historically, Great Taipei Gas' own Owner Earnings per Share (TTM) has ranged from 7.07 to 32.41 over the past decade. While the company's 10-year median is 14.76 vs. the industry median of 17.09, Great Taipei Gas has consistently been below the industry average. 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 an Utilities - Regulated company?
The median Owner Earnings per Share (TTM) among Utilities - Regulated companies is 17.09, based on 248 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. Great Taipei Gas's current Owner Earnings per Share (TTM) of 2.75 is 83.9% below 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 Great Taipei Gas. For the Utilities - Regulated industry, the median Owner Earnings per Share (TTM) is 17.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Great Taipei Gas's current Owner Earnings per Share (TTM) is 2.75, which is 81% below median its own 10-year median of 14.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Great Taipei Gas stock overvalued right now?
Based on GuruFocus' analysis, Great Taipei Gas (TPE:9908) is currently considered Fairly Valued. The stock's GF Value™ is NT$30.46, compared to a current price of NT$29.20 — trading 4.1% below its estimated fair value. The current Owner Earnings per Share (TTM) is 2.75, which is 81% below median its 10-year median of 14.76 and 83.9% below the Utilities - Regulated industry median of 17.09. Great Taipei Gas' overall GF Score™ is 86/100 with 5 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 Great Taipei Gas (TPE:9908), the current Owner Earnings per Share (TTM) is 2.75 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 Great Taipei Gas (TPE:9908) Overvalued in 2026?
Based on GuruFocus' analysis, Great Taipei Gas stock appears to be undervalued.
The current stock price of NT$29.20 is trading 4.1% below its estimated GF Value™ of NT$30.46.
GuruFocus considers Great Taipei Gas to be Fairly Valued.
Key valuation signals for TPE:9908:
Owner Earnings per Share (TTM): 2.75 (81% below median its 10-year median of 14.76)
GF Value™: NT$30.46 vs. price of NT$29.20 (4.1% below fair value)
Industry Position: 83.9% below the Utilities - Regulated median (#83 of 248)
No single metric tells the full story. See the TPE:9908 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Great Taipei Gas Corp is engaged in the supply of gas, the manufacture and supply of gas equipment and related equipment, the marketing of gas equipment, the sale of meters and gauges (gas meters), the Type I telecommunications business, and the office building rental business. Its operating segments are: Gas sales department, which generates maximum revenue; Equipment department; Investment department; Telecom department; and Others.
86GF Score
Get the complete analysis for TPE:9908
Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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