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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)."
Rain Oncology 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 Rain Oncology's Owner Earnings per Share (TTM) or its related term are showing as below:
Rain Oncology's Earnings per Share (Diluted) for the three months ended in Sep. 2023 was $-0.19. Its Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2023 was $-2.06. It's PE Ratio ratio for today is At Loss.
Rain Oncology's EPS without NRI for the three months ended in Sep. 2023 was $-0.19. Its EPS without NRI for the trailing twelve months (TTM) ended in Sep. 2023 was $-1.98. It's PE Ratio without NRI ratio for today is At Loss.
The historical data trend for Rain Oncology'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.
Rain Oncology Annual Data | |||||||||
Trend | Dec19 | Dec20 | Dec21 | Dec22 | |||||
Owner Earnings per Share (TTM) | - | - | - | - |
Rain Oncology Quarterly Data | ||||||||||||||||
Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | |
Owner Earnings per Share (TTM) | Get a 7-Day Free Trial | - | - | - | - | - |
For the Biotechnology subindustry, Rain Oncology'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 Biotechnology industry and Healthcare sector, Rain Oncology's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Rain Oncology'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)
Rain Oncology 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 Rain Oncology's Owner Earnings per Share (TTM) provided by GuruFocus.com. Please click on the following links to see related term pages.
Kevin C Tang | 10 percent owner | 4747 EXECUTIVE DRIVE, SUITE 210, SAN DIEGO CA 92121 |
Josephine Bruce | officer: Principal Fin. & Acc. Officer | 8000 JARVIS AVENUE, SUITE 204, NEWARK CA 94560 |
Tang Capital Partners Lp | 10 percent owner | 4747 EXECUTIVE DRIVE, SUITE 210, SAN DIEGO CA 92121 |
Tang Capital Management Llc | 10 percent owner | 4747 EXECUTIVE DRIVE, SUITE 210, SAN DIEGO CA 92121 |
Boxer Capital, Llc | other: See remarks. | 12860 EL CAMINO REAL, SUITE 300, SAN DIEGO CA 92130 |
Boxer Asset Management Inc. | other: See remarks | CAY HOUSE, EP TAYLOR DRIVE N7776, LYFORD CAY, NEW PROVIDENCE C5 00000 |
Joseph Lewis | other: See remarks. | PO BOX N7776, LYFORD BAHAMAS |
Aaron I. Davis | director | 12860 EL CAMINO REAL, SUITE 300, SAN DIEGO CA 92130 |
Erik Atkisson | officer: General Counsel and CCO | C/O EIGER BIOPHARMACEUTICALS, INC., 2155 PARK BLVD., PALO ALTO CA 94306 |
Franklin M Berger | director | 1000 MARINA BLVD, STE 200, BRISBANE CA 94005 |
Biotechnology Value Fund L P | other: See Explanation of Responses | 44 MONTGOMERY STREET, 40TH FL, SAN FRANCISCO CA 94104 |
Avanish Vellanki | director, officer: President and CEO | 8000 JARVIS AVENUE, SUITE 204, NEWARK CA 94560 |
Perceptive Life Sciences Master Fund Ltd | 10 percent owner | C/O PERCEPTIVE ADVISORS LLC, 51 ASTOR PLACE, 10TH FLOOR, NEW YORK NY 10003 |
Cormorant Asset Management, Lp | 10 percent owner | 200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116 |
Gorjan Hrustanovic | director | C/O KYMERA THERAPEUTICS, INC., 200 ARSENAL YARDS, SUITE 230, WATERTOWN MA 02472 |
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