Legacy Reserves (Legacy Reserves) Return-on-Tangible-Equity : 0.00% (As of Sep. 2019)

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What is Legacy Reserves Return-on-Tangible-Equity?

Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Legacy Reserves's annualized net income for the quarter that ended in Sep. 2019 was $-544.92 Mil. Legacy Reserves's average shareholder tangible equity for the quarter that ended in Sep. 2019 was $-387.57 Mil. Therefore, Legacy Reserves's annualized Return-on-Tangible-Equity for the quarter that ended in Sep. 2019 was N/A%.

The historical rank and industry rank for Legacy Reserves's Return-on-Tangible-Equity or its related term are showing as below:

During the past 13 years, Legacy Reserves's highest Return-on-Tangible-Equity was 16.57%. The lowest was -380.26%. And the median was -5.86%.

LGCYO.PFD's Return-on-Tangible-Equity is not ranked ^*
in the Oil & Gas industry.
Industry Median: 8.085
* Ranked among companies with meaningful Return-on-Tangible-Equity only.

Legacy Reserves Return-on-Tangible-Equity Historical Data

The historical data trend for Legacy Reserves's Return-on-Tangible-Equity 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.

Legacy Reserves Return-on-Tangible-Equity Chart

Legacy Reserves Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Return-on-Tangible-Equity

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-49.67

-309.76

Negative Tangible Equity

Legacy Reserves Quarterly Data
	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19
Return-on-Tangible-Equity	Get a 7-Day Free Trial															-	Negative Tangible Equity	-	-	-

Competitive Comparison of Legacy Reserves's Return-on-Tangible-Equity

For the Oil & Gas E&P subindustry, Legacy Reserves's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.

Legacy Reserves's Return-on-Tangible-Equity Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Legacy Reserves's Return-on-Tangible-Equity distribution charts can be found below:

* The bar in red indicates where Legacy Reserves's Return-on-Tangible-Equity falls into.

Legacy Reserves Return-on-Tangible-Equity Calculation

Legacy Reserves's annualized Return-on-Tangible-Equity for the fiscal year that ended in Dec. 2018 is calculated as

Return-on-Tangible-Equity	=	Net Income	/	( (Total Tangible Equity	+	Total Tangible Equity)	/ count )
		(A: Dec. 2018 )		(A: Dec. 2017 )		(A: Dec. 2018 )
	=	Net Income	/	( (Total Stockholders Equity - Intangible Assets	+	Total Stockholders Equity - Intangible Assets )	/ count )
		(A: Dec. 2018 )		(A: Dec. 2017 )		(A: Dec. 2018 )
	=	43.833	/	( (-272.938	+	-193.525 )	/ 2 )
	=	43.833	/	-233.2315
	=	Negative Tangible Equity %

Legacy Reserves's annualized Return-on-Tangible-Equity for the quarter that ended in Sep. 2019 is calculated as

Return-on-Tangible-Equity	=	Net Income	/	( (Total Tangible Equity	+	Total Tangible Equity)	/ count )
		(Q: Sep. 2019 )		(Q: Jun. 2019 )		(Q: Sep. 2019 )
	=	Net Income	/	( (Total Stockholders Equity - Intangible Assets	+	Total Stockholders Equity - Intangible Assets)	/ count )
		(Q: Sep. 2019 )		(Q: Jun. 2019 )		(Q: Sep. 2019 )
	=	-544.92	/	( (-321.533	+	-453.61)	/ 2 )
	=	-544.92	/	-387.5715
	=	N/A %

In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Sep. 2019) net income data. Return-on-Tangible-Equity is displayed in the 10-year financial page.

Legacy Reserves (NAS:LGCYO.PFD) Return-on-Tangible-Equity Explanation

Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.

Be Aware

Net Income is used.

Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.

Legacy Reserves Return-on-Tangible-Equity Related Terms

Thank you for viewing the detailed overview of Legacy Reserves's Return-on-Tangible-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.

Legacy Reserves (Legacy Reserves) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Legacy Reserves Inc (NAS:LGCYO.PFD) » Definitions » Return-on-Tangible-Equity

Comparable Companies

Traded in Other Exchanges

N/A

Address

303 West Wall Street, Suite 1800, Midland, TX, USA, 79701

Website

http://www.legacyreserves.com

Legacy Reserves LP is a limited partnership which focuses on the acquisition and development of oil and natural gas properties primarily located in the Permian Basin, East Texas, Rocky Mountain and Mid-Continent regions of the United States. The company owns an interest in producing oil and natural gas properties in the Permian Basin, East Texas, Piceance Basin of Colorado, Texas Panhandle, Wyoming, North Dakota, Montana, Oklahoma and several other states. The company operates through the segment being the Acquisition and development of oil and natural gas properties.

Executives

Robert L Norris	officer: Chief Financial Officer	303 W. WALL ST, SUITE 1800, MIDLAND TX 79701
Ferrara Albert E Iii	officer: See Remarks	303 W WALL ST, SUITE 1800, MIDLAND TX 79701
Elliott Cory J	officer: Chief Information Officer	303 W WALL ST, SUITE 1800, MIDLAND TX 79701
Douglas W York	director	1776 LINCOLN ST, STE 700, DENVER CO 80202
Baines Creek Capital, Llc	10 percent owner	11940 JOLLYVILLE, SUITE 210-S, AUSTIN TX 78759
William R Granberry	director	ONE WILLIAMS CENTER, SUITE 3800, TULSA OK 74172
D Dwight Scott	director	1601 N.W. EXPRESSWAY, SUITE 1600, OKLAHOMA CITY OK 73118
Kyle D Vann	director	11 HEPPLEWHITE WAY, THE WOODLANDS TX 77382
Cary D Brown	director	C/O LEGACY RESERVES GP, LLC, 303 W. WALL STREET, SUITE 1600, MIDLAND TX 79701
G Larry Lawrence	director	C/O LEGACY RESERVES GP, LLC, 303 W. WALL STREET, SUITE 1600, MIDLAND TX 79701
Kyle A Mcgraw	officer: EVP and CDO	C/O LEGACY RESERVES GP, LLC, 303 W. WALL STREET, SUITE 1600, MIDLAND TX 79701
Paul T Horne	director, officer: Chairman and CEO	C/O LEGACY RESERVES GP, LLC, 303 W. WALL STREET, SUITE 1600, MIDLAND TX 79701
Micah C. Foster	officer: CAO and Controller	404 VETERANS AIRPARK LANE, SUITE 300, MIDLAND TX 79705
Dan G. Leroy	officer: VP, GC and Secretary	303 W. WALL STREET, SUITE 4200, MIDLAND TX 79701
James Daniel Westcott	officer: President and CFO	C/O LEGACY RESERVES GP LLC, 303 W WALL STREET SUITE 1400, MIDLAND TX 79701