United Plantation Bhd (XKLS:2089) Owner Earnings per Share (TTM): 1.02 (As of Jun. 2026) — 95% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

XKLS:2089 United Plantation Bhd XKLS:2089
77 GF Score
Price RM32.88
GF Value RM25.75
Valuation Modestly Overvalued
! 3 Warning Signs
View Full Analysis

What is United Plantation Bhd Owner Earnings per Share (TTM)?

United Plantation Bhd XKLS:2089 -1.26% 77 Owner Earnings per Share (TTM) is 1.02 as of Jun. 2026, which is 95% below its 10-year median of 19.83. GuruFocus rates XKLS:2089 with a GF Score™ of 77/100 and a GF Value™ of RM25.75 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 961 Consumer Packaged Goods companies, United Plantation Bhd ranks worse than 76.48% on this metric.

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)."

United Plantation Bhd's Owner Earnings per Share (TTM) ended in Jun. 2026 was RM1.02. It's Price-to-Owner-Earnings ratio for today is 32.24.


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

XKLS:2089' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 11.28   Med: 19.83   Max: 33.99
Current: 32.3


During the past 13 years, the highest Price-to-Owner-Earnings ratio of United Plantation Bhd was 33.99. The lowest was 11.28. And the median was 19.83.


XKLS:2089's Price-to-Owner-Earnings is ranked worse than
76.48% of 961 companies
in the Consumer Packaged Goods industry
Industry Median: 14.94 vs XKLS:2089: 32.30

United Plantation Bhd's Earnings per Share (Diluted) for the three months ended in Jun. 2026 was RM0.00. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 was RM0.34. It's PE Ratio (TTM) ratio for today is 97.86.

United Plantation Bhd's EPS without NRI for the three months ended in Jun. 2026 was RM0.31. Its EPS without NRI for the trailing twelve months (TTM) ended in Jun. 2026 was RM1.23. It's PE Ratio without NRI ratio for today is 26.67.


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.


United Plantation Bhd Owner Earnings per Share (TTM) Related Terms


United Plantation Bhd Owner Earnings per Share (TTM) Historical Data

* Premium members only.

The historical data trend for United Plantation Bhd'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.

United Plantation Bhd Owner Earnings per Share (TTM) Chart

United Plantation Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Owner Earnings per Share (TTM)
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.66 0.80 0.98 0.97 1.12

United Plantation Bhd Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 1.11 1.10 1.12 1.11 1.02

XKLS:2089 vs ADM, BG, TSN: Owner Earnings per Share (TTM) Comparison

For the Farm Products subindustry, United Plantation Bhd'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.


United Plantation Bhd Price-to-Owner-Earnings vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, United Plantation Bhd's Price-to-Owner-Earnings distribution charts can be found below:

* The bar in red indicates where United Plantation Bhd's Price-to-Owner-Earnings falls into.


XKLS:2089
77GF Score
United Plantation Bhd XKLS:2089
Owner Earnings per Share (TTM) is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

United Plantation Bhd 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)

United Plantation Bhd's Owner Earnings per Share (TTM) Calculation:

TTM / Last Quarter Average of Last 20 Quarters
Net Income 767
Depreciation, Depletion and Amortization 0
Change In Deferred Tax 0
5Y Average of Maintenance Capital Expenditure 134
Change In Working Capital 0
Shares Outstanding (Diluted Average) 622

1. Start with "Net Income" from income statement. United Plantation Bhd's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was RM767 Mil.

2. "Depreciation, Depletion and Amortization" is from cashflow statement. United Plantation Bhd's Depreciation, Depletion and Amortization for the trailing twelve months (TTM) ended in Jun. 2026 was RM0 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. United Plantation Bhd's Change In Deferred Tax for the trailing twelve months (TTM) ended in Jun. 2026 was RM0 Mil.

4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = RM134 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.

United Plantation Bhd's 5-Year Average Maintenance Capital Expenditure = RM134 Mil

5. "Change In Working Capital" is from cashflow statement. United Plantation Bhd's Change In Working Capital for the trailing twelve months (TTM) ended in Jun. 2026 was RM0 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. United Plantation Bhd's Shares Outstanding (Diluted Average) for the months ended in Jun. 2026 was 622.177 Mil.

United Plantation Bhd's Onwer Earnings Per Share for Jun. 2026 is calculated as:

Owner Earnings per Share (TTM)
=( Net Income+Depreciation, Depletion and Amortization+Change In Deferred Tax
=( 767.098 +0+0
-5Y Avg of Maintenance CAPEX+Change In Working Capital )/Shares Outstanding (Diluted Average)
-133.54990391876+0)/622.177
=1.02

Price-to-Owner-Earnings=Current Price/Owner Earnings per Share (TTM)
=32.88/1.02
=32.24

* 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 1.02 mean?
United Plantation Bhd (XKLS:2089) has a Owner Earnings per Share (TTM) of 1.02 as of Jun. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on United Plantation Bhd. This is 95% below median its historical median of 19.83. Over the past decade, United Plantation Bhd's Owner Earnings per Share (TTM) has ranged from 11.28 to 33.99. According to the industry distribution chart, United Plantation Bhd ranks #735 out of 961 companies in the Consumer Packaged Goods industry, placing it in the top 76.5%.
Is United Plantation Bhd's Owner Earnings per Share (TTM) too high?
United Plantation Bhd's current Owner Earnings per Share (TTM) of 1.02 is 95% below median its 10-year median of 19.83. Over the past 10 years, this metric has ranged from a low of 11.28 to a high of 33.99. The Consumer Packaged Goods industry median Owner Earnings per Share (TTM) is 14.94. United Plantation Bhd's value of 1.02 is 93.2% below this industry median. Based on the distribution chart, United Plantation Bhd ranks #735 out of 961 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, United Plantation Bhd has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does United Plantation Bhd's Owner Earnings per Share (TTM) compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, United Plantation Bhd ranks #735 out of 961 companies for Owner Earnings per Share (TTM). This places United Plantation Bhd in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 14.94. United Plantation Bhd's value of 1.02 is 93.2% below this benchmark. Historically, United Plantation Bhd's own Owner Earnings per Share (TTM) has ranged from 11.28 to 33.99 over the past decade. While the company's 10-year median is 19.83 vs. the industry median of 14.94, United Plantation Bhd 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 a Consumer Packaged Goods company?
The median Owner Earnings per Share (TTM) among Consumer Packaged Goods companies is 14.94, based on 961 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. United Plantation Bhd's current Owner Earnings per Share (TTM) of 1.02 is 93.2% 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 United Plantation Bhd. For the Consumer Packaged Goods industry, the median Owner Earnings per Share (TTM) is 14.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. United Plantation Bhd's current Owner Earnings per Share (TTM) is 1.02, which is 95% below median its own 10-year median of 19.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Plantation Bhd stock overvalued right now?
Based on GuruFocus' analysis, United Plantation Bhd (XKLS:2089) is currently considered Modestly Overvalued. The stock's GF Value™ is RM25.75, compared to a current price of RM32.88 — trading 27.7% above its estimated fair value. The current Owner Earnings per Share (TTM) is 1.02, which is 95% below median its 10-year median of 19.83 and 93.2% below the Consumer Packaged Goods industry median of 14.94. United Plantation Bhd's overall GF Score™ is 77/100 with 3 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 United Plantation Bhd (XKLS:2089), the current Owner Earnings per Share (TTM) is 1.02 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 United Plantation Bhd (XKLS:2089) Overvalued in 2026?

Based on GuruFocus' analysis, United Plantation Bhd stock appears to be overvalued. The current stock price of RM32.88 is trading 27.7% above its estimated GF Value™ of RM25.75. GuruFocus considers United Plantation Bhd to be Modestly Overvalued.

Key valuation signals for XKLS:2089:

  • Owner Earnings per Share (TTM): 1.02 (95% below median its 10-year median of 19.83)
  • GF Value™: RM25.75 vs. price of RM32.88 (27.7% above fair value)
  • GF Score™: 77/100 with 3 warning signs
  • Industry Position: 93.2% below the Consumer Packaged Goods median (#735 of 961)

No single metric tells the full story. See the XKLS:2089 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


United Plantation Bhd Business Description

Address Jendarata Estate, Teluk Intan, PRK, MYS, 36009
United Plantation Bhd cultivates and processes palm oil, coconuts, and other plantation crops. Its subsidiaries process and manufacture palm oil until it is ready to be packaged and distributed to customers. It owns a light railway to transport products from palm trees to a handful of mills located on its property. End products produced by the company include cooking oils, ready-to-eat oils, soaps, and specialty fats. The company operates in three segments, which include the Plantations, Palm oil refining, and Other segments. The majority of its revenue is generated from the Palm Oil Refining segment.
77GF Score

Get the complete analysis for XKLS:2089

Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

RM32.88
Price
RM25.75
GF Value