What is Piedmont Natural Gas Co 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. Piedmont Natural Gas Co's annualized net income for the quarter that ended in Jul. 2016 was $-27 Mil. Piedmont Natural Gas Co's average shareholder tangible equity for the quarter that ended in Jul. 2016 was $1,488 Mil. Therefore, Piedmont Natural Gas Co's annualized Return-on-Tangible-Equity for the quarter that ended in Jul. 2016 was -1.81%.
The historical rank and industry rank for Piedmont Natural Gas Co's Return-on-Tangible-Equity or its related term are showing as below:
PNY's Return-on-Tangible-Equity is not ranked *
in the Utilities - Regulated industry.
Industry Median: 10.87 * Ranked among companies with meaningful Return-on-Tangible-Equity only.
Piedmont Natural Gas Co Return-on-Tangible-Equity Historical Data
The historical data trend for Piedmont Natural Gas Co'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.
Piedmont Natural Gas Co Return-on-Tangible-Equity Chart
Competitive Comparison of Piedmont Natural Gas Co's Return-on-Tangible-Equity
For the Utilities - Regulated Gas subindustry, Piedmont Natural Gas Co'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.
Piedmont Natural Gas Co's Return-on-Tangible-Equity Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Piedmont Natural Gas Co's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Piedmont Natural Gas Co's Return-on-Tangible-Equity falls into.
Piedmont Natural Gas Co Return-on-Tangible-Equity Calculation
Piedmont Natural Gas Co's annualized Return-on-Tangible-Equity for the fiscal year that ended in Oct. 2015 is calculated as
* 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.
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 (Jul. 2016) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
Piedmont Natural Gas Co (NYSE:PNY) 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.
Piedmont Natural Gas Co Return-on-Tangible-Equity Related Terms
Thank you for viewing the detailed overview of Piedmont Natural Gas Co's Return-on-Tangible-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.
Piedmont Natural Gas Co (Piedmont Natural Gas Co) Business Description
Piedmont Natural Gas Co Inc was incorporated in New York in 1950 and began operations in 1951. In 1994, it merged into a newly formed North Carolina corporation with the same name for the purpose of changing its state of incorporation to North Carolina. The Company is an energy services company whose business is distribution of natural gas to residential, commercial, industrial and power generation clients in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are its wholesale customers. The Company is invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, regulated interstate natural gas transportation and storage and regulated intrastate natural gas transportation. It provides service from resource centers in Anderson, Greenville and Spartanburg in South Carolina and Charlotte, Salisbury, Greensboro, Winston-Salem, High Point, Burlington, Hickory, Indian Trail, Spruce Pine, Reidsville, Fayetteville, New Bern, Wilmington, Tarboro, Elizabeth City, Rockingham and Goldsboro in North Carolina. In North Carolina, it also provides natural gas service to Greenville, Rocky Mount and Wilson. In Tennessee, its service area is the metropolitan area of Nashville, including wholesale natural gas service to Gallatin and Smyrna. The Company has three reportable business segments, regulated utility, regulated non-utility activities and unregulated non-utility activities. The regulated utility segment includes operating a safe and reliable natural gas distribution system and the ability to recover the costs and expenses of the business in the rates charged to customers. The regulated non-utility activities segment consists of equity method investments in regulated energy-related joint ventures that are held by the Company's wholly-owned subsidiaries. The unregulated non-utility activities segment consists of its equity method investment in an unregulated energy-related joint venture that is held by a wholly-owned subsidiary. The regulated utility competes with other energy products, such as electricity and propane, in the residential and commercial customer markets. Natural gas for power generation competes with other fuel sources for the generation of electricity, including coal, nuclear and renewable resources. Additionally, as with industrial customers, the Company competes with other pipeline providers to serve the power generation plants.
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