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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)."
XAI Octagon Floating Rate & Alternativeome Trust 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 XAI Octagon Floating Rate & Alternativeome Trust's Owner Earnings per Share (TTM) or its related term are showing as below:
XAI Octagon Floating Rate & Alternativeome Trust's Earnings per Share (Diluted) for the six months ended in Sep. 2023 was $0.75. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2023 was $1.12. It's PE Ratio ratio for today is 6.31.
XAI Octagon Floating Rate & Alternativeome Trust's EPS without NRI for the six months ended in Sep. 2023 was $0.75. Its EPS without NRI for the trailing twelve months (TTM) ended in Sep. 2023 was $1.12. It's PE Ratio without NRI ratio for today is 6.31.
The historical data trend for XAI Octagon Floating Rate & Alternativeome Trust'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.
XAI Octagon Floating Rate & Alternativeome Trust Annual Data | ||||||||||||||||
Trend | Sep17 | Sep18 | Sep19 | Sep20 | Sep21 | Sep22 | Sep23 | |||||||||
Owner Earnings per Share (TTM) | Get a 7-Day Free Trial | - | - | - | - | - |
XAI Octagon Floating Rate & Alternativeome Trust Semi-Annual Data | ||||||||||||
Mar18 | Sep18 | Mar19 | Sep19 | Mar20 | Sep20 | Mar21 | Sep21 | Mar22 | Sep22 | Mar23 | Sep23 | |
Owner Earnings per Share (TTM) | Get a 7-Day Free Trial | - | - | - | - | - |
For the Asset Management subindustry, XAI Octagon Floating Rate & Alternativeome Trust'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, XAI Octagon Floating Rate & Alternativeome Trust's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where XAI Octagon Floating Rate & Alternativeome Trust'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)
XAI Octagon Floating Rate & Alternativeome Trust 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 XAI Octagon Floating Rate & Alternativeome Trust's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.
Theodore J Brombach | officer: President & CEO, other: Interested Trustee | 321 N. CLARK STREET, CHICAGO IL 60054 |
John Yogi Spence | officer: CFO & Treasurer | 321 N. CLARK STREET, CHICAGO IL 60054 |
Randi Jean Roessler | officer: Chief Compliance Officer | C/O DESTRA MULTI ALTERNATIVE FUND, 443 NORTH WILLSON AVENUE, BOZEMAN MT 59715 |
Benjamin Mcculloch | officer: Secretary & CLO | 321 NORTH CLARK STREET, SUITE 2430, CHICAGO IL 60654 |
John P Mcgarrity | officer: Chief Legal & Secretary | 321 N. CLARK STREET, CHICAGO IL 60054 |
Eagle Point Credit Management Llc | 10 percent owner | 600 STEAMBOAT RD, SUITE 202, GREENWICH CT 06830 |
Ep Dif Cayman I Lp | 10 percent owner | 600 STEAMBOAT ROAD, SUITE 202, GREENWICH CT 06830 |
Eagle Point Core Income Fund Lp | 10 percent owner | 600 STEAMBOAT ROAD, SUITE 202, GREENWICH CT 06830 |
Eagle Point Cif Gp I Llc | 10 percent owner | 600 STEAMBOAT ROAD, SUITE 202, GREENWICH CT 06830 |
Eagle Point Dif Gp I Llc | 10 percent owner | 600 STEAMBOAT ROAD, SUITE 202, GREENWICH CT 06830 |
Sean Michael Gleason | other: Sub-Adviser Inv Comm Member | 250 PARK AVENUE, 15TH FLOOR, NEW YORK NY 10177 |
Philip G Franklin | other: Trustee | C/O XA INVESTMENTS, 1290 BROADWAY STE 1100, DENVER CO 80203 |
Andrew David Gordon | other: Sub-Adviser Inv Comm Member | 250 PARK AVENUE, 15TH FLOOR, NEW YORK NY 10177 |
Scott C Jones | other: Trustee | C/O XA INVESTMENTS, 1290 BROADWAY STE 1100, DENVER CO 80203 |
Maegan Gallagher Boger | other: Sub-Adviser Inv Comm Member | 250 PARK AVENUE, 15TH FLOOR, NEW YORK NY 10177 |
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