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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)."
Retail Opportunity Investments 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 Retail Opportunity Investments's Owner Earnings per Share (TTM) or its related term are showing as below:
During the past 13 years, the highest Price-to-Owner-Earnings ratio of Retail Opportunity Investments was 74.69. The lowest was 13.46. And the median was 26.22.
Retail Opportunity Investments's Earnings per Share (Diluted) for the three months ended in Mar. 2024 was $0.09. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2024 was $0.30. It's PE Ratio ratio for today is 40.83.
Retail Opportunity Investments's EPS without NRI for the three months ended in Mar. 2024 was $0.09. Its EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2024 was $0.30. It's PE Ratio without NRI ratio for today is 40.83.
The historical data trend for Retail Opportunity Investments'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.
Retail Opportunity Investments Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Owner Earnings per Share (TTM) | Get a 7-Day Free Trial | - | - | - | - | - |
Retail Opportunity Investments Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Owner Earnings per Share (TTM) | Get a 7-Day Free Trial | - | - | - | - | - |
For the REIT - Retail subindustry, Retail Opportunity Investments'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 REITs industry and Real Estate sector, Retail Opportunity Investments's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Retail Opportunity Investments'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)
Retail Opportunity Investments 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 Retail Opportunity Investments's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.
Michael J. Indiveri | director | 3 MANHATTANVILLE ROAD, PURCHASE NY 10577 |
Laura H Pomerantz | director | |
Lauren N. Silveira | officer: VP, Chief Accounting Officer | RETAIL OPPORTUNITY INVESTMENTS CORP., 11250 EL CAMINO ROAD, SUITE 200, SAN DIEGO CA 92130 |
Adrienne Banks Pitts | director | C/O RETAIL OPPORTUNITY INVESTMENTS CORP, 11250 EL CAMINO REAL, SUITE 200, SAN DIEGO CA 92130 |
Zabrina Jenkins | director | C/O RETAIL OPPORTUNITY INVESTMENT CORP., 11250 EL CAMINO REAL. SUITE 200, SAN DIEGO CA 92130 |
Richard Schoebel | officer: Chief Operating Officer | C/O RETAIL OPPORTUNITY INVESTMENTS CORP., 3 MANHATTANVILLE ROAD, PURCHASE NY 10577 |
Angela K Ho | director | 975 HOOPER AVENUE, TOMS RIVER NJ 08753 |
Eric S Zorn | director | 2001 S.E. 10TH STREET, BENTONVILLE AR 72712 |
Charles J. Persico | director | 112 MASON STREET, GREENWICH CT 06830 |
Michael B. Haines | officer: EVP,CFO, TREASURER & SECRETARY | 8905 TOWNE CENTRE DRIVE, SUITE 108, SAN DIEGO CA 92122 |
Richard A. Baker | director, 10 percent owner, officer: Executive Chairman | 3 MANHATTANVILLE ROAD, PURCHASE NY 10577 |
Edward H Meyer | director | C/O OCEAN ROAD ADVISORS INC, 650 MADISON AVENUE, 26TH FL, NEW YORK NY 10022 |
Laurie A. Sneve | officer: Sr.VP,Chief Accounting Officer | 8905 TOWNE CENTRE DRIVE, SUITE 108, SAN DIEGO CA 92122 |
Glenhill Advisors Llc | 10 percent owner | 600 FIFTH AVE, 11TH FL, NEW YORK NY 10020 |
Glenhill Capital Overseas Master Fund, L.p. | 10 percent owner | 600 FIFTH AVE, 11TH FL, NEW YORK NY 10020 |
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