P / B ratio is an indication of how much shareholders are paying for
the net assets of a company.
Book value is the total value of
the net assets of a company attributable to — or owned by — shareholders.
Rather, they insist on enough intrinsic value to exist in
the net assets of the company.
Not exact matches
Direxion's iBillionaire Index ETF is barely five weeks old and holds only $ 35 million in
assets, but it's generated buzz by investing in 30
companies chosen from the portfolios
of asset managers with personal
net worth
of $ 1 billion or more.
In the opinion
of the
Company's management, adjusted book value per share is useful in an analysis of a property casualty company's book value per share as it removes the effect of changing prices on invested assets (i.e., net unrealized investment gains (losses), net of tax), which do not have an equivalent impact on unpaid claims and claim adjustment expense re
Company's management, adjusted book value per share is useful in an analysis
of a property casualty
company's book value per share as it removes the effect of changing prices on invested assets (i.e., net unrealized investment gains (losses), net of tax), which do not have an equivalent impact on unpaid claims and claim adjustment expense re
company's book value per share as it removes the effect
of changing prices on invested
assets (i.e.,
net unrealized investment gains (losses),
net of tax), which do not have an equivalent impact on unpaid claims and claim adjustment expense reserves.
The
company has applied ASU 2017 - 07 retrospectively for the presentation
of the service cost component and the other components
of net periodic pension cost and
net periodic postretirement benefit cost and prospectively for the capitalization
of the service cost component
of net periodic pension cost and
net periodic postretirement benefit in
assets.
On a non-GAAP basis (excluding stock - based compensation expenses, amortization
of intangible
assets, reorganization costs, goodwill and technology impairment charges, the impact
of the US tax reform and a loss from discontinued operations), the
Company recorded a
net loss
of $ (1.6) million, or $ (0.54) per diluted share in 2017, compared with a
net loss
of $ (375,000), or $ (0.13) per diluted share in 2016.
The
company said Friday it earned
net income
of $ 15 million or six cents per share in the last three months
of 2017, compared with $ 840 million or $ 3.43 per share in the year - earlier period, with the latter figures boosted by
asset sales.
The No. 1 U.S. mortgage financing
company swung back from a
net loss
of $ 6.53 billion in the fourth quarter due to a $ 9.9 billion writedown
of its deferred tax
assets tied to the sweeping federal tax...
The acquisition would create a
company with an ownership interest in almost $ 100 billion real estate
assets globally and annual
net operating income
of about $ 5 billion, according to Brookfield Property.
Constellation's Mexican - produced beers, which it acquired in a side deal after InBev bought the international
assets of Mexican brewer Grupo Modelo for $ 20.1 billion in 2013, are selling well and stealing market share in the U.S. Beer
net sales at Constellation jumped 13 % for the first six months
of the current fiscal year, while the
company's wine and spirits unit — which includes Svedka vodka and Robert Mondavi wine — posted flat sales over the same period.
It's simply the premium paid over and above the
net value
of the
assets in the acquisition
of a
company.
Finally, the ratio
of net income to total
assets is a strong indicator
of whether the
company is getting a favorable rate
of return on
assets.
According to the International Business Brokers Association, a
company's value is determined by a compilation
of factors such as sales, earnings, performance, market outlook, personnel,
net book value, and the fair market replacement value
of equivalent operating
assets.
Some
of the proceeds
of the IPO will go to repay outstanding debt Zipcar owes to financial instutitutions, and «approximately $ 5.0 million to repay amounts owing to certain former shareholders
of Streetcar» as well as a portion
of the
net proceeds to invest in «
companies, technologies, services or
assets that complement our business.»
Growth is expected to come from wirehouses such as Morgan Stanley and Merrill Lynch that are starting to allocate more funds to the newer
net asset value (NAV) non-traded REIT products on behalf
of their clients, notes Kevin Gannon, president and managing director at Robert A. Stanger &
Company Inc., a real estate investment banking firm based in Shrewsbury, N.J..
The
company's sales were down 39 % year - over-year due in part to shuttered lines and in part to fewer project sales, but despite $ 18 million in restructuring and
asset impairment charges, First Solar still pulled off a positive operating margin and a
net profit
of $ 52 million.
As a result
of the acquisition
of ChoiceVendor, the
Company recorded intangible
assets of $ 5,153,000, which was comprised
of $ 3,259,000 related to workforce in place, $ 1,470,000 related to developed technology, and $ 424,000 related to non-compete agreements, and
net liabilities
of $ 164,000.
We sell our units on a continuous basis at initial offering prices
of $ 10.00 per Class A unit, $ 9.576 per Class C unit, and $ 9.186 per Class I unit; however, to the extent that our
net asset value on the most recent valuation date increases above or decreases below our
net proceeds per unit as stated in the
Company's prospectus, our board
of managers will adjust the offering prices
of all classes
of units to ensure that no unit is sold at a price, after deduction
of selling commissions, dealer manager fees and organization and offering expenses, that is above or below our
net asset value per unit as
of such valuation date.
Several
of the comparable industry peer
companies are our competitors and are generally larger than us in terms
of total
net revenue and
assets.
Under normal market conditions, the Gold and Precious Metals Fund will invest at least 80 percent
of its
net assets in equity securities
of companies predominately involved in the mining, fabrication, processing, marketing, or distribution
of metals including gold, silver, platinum group, palladium and diamonds.
We make several adjustments to get from reported
net assets to invested capital because
companies can hide
assets and liabilities off
of the balance sheet in the form
of reserves, operating leases, deferred compensation, and many other techniques.
In the case
of a
company, this is also known as Owner's Equity,
Net Assets, or
Net Worth.
The purchase price
of each Share will be (i) not less than the
net asset value per Share (the «NAV Per Share»)
of the
Company's common stock (as determined in good faith by the board
of directors
of the
Company or a committee thereof, in its sole discretion) immediately prior to the Expiration Date (as defined in the Offer to Purchase)(the date
of repurchase) and (ii) not more than 2.5 % greater than the NAV Per Share as
of such date, plus any unpaid dividends accrued through the expiration date
of the Tender Offer.
This
net position in turn consisted
of foreign currency
asset holdings equivalent to about 20 per cent
of GDP, with more than three - quarters
of this in the form
of equity investment (including direct investment by multinational
companies in their offshore operations).
«Brookfield Property Partners is a diversified global real estate
company that owns, operates and develops one
of the largest portfolios
of office, retail, multifamily, industrial, hospitality, triple
net lease and self - storage
assets.»
If you are providing evidence
of your accreditation on the basis
of having over $ 1 million in
net assets, the
company you are investing in is required to verify your debts in order to confirm that your
net assets are greater than $ 1M.
The
Company utilized estimated fair values at the closing date
of the 2015 Merger for the preliminary allocation
of consideration to the
net tangible and intangible
assets acquired and liabilities assumed.
Under normal market conditions, the World Precious Minerals Fund will invest at least 80 %
of its
net assets in common stock, preferred stock, convertible securities, rights and warrants, and depository receipts
of companies principally engaged in the exploration for, or mining and processing
of, precious minerals such as gold, silver, platinum group, palladium and diamonds.
As
of 12/31/14, Oracle represented 3.9 %, CVS Health 2.7 %, UnitedHealth Group, Inc. 2.6 %, TE Connectivity, Ltd. 2.5 %, MasterCard 2.2 %, National Oilwell Varco 2.1 %, Ultra Petroleum 0.4 %, Dover Corp. 2.7 %, Glencore PLC 1.2 %, Baker Hughes, Inc. 1.2 %, General Motors Co. 3.2 %, Diageo ADR 2.3 %, General Dynamics Corp. 0 %, Union Pacific Corp. 2.1 %, Rowan
Companies plc 0.1 %, Flowserve 0.2 %, WESCO International 0.4 %, Southern Copper 0.1 %, Laboratory Corporation
of America 0 %, Varian Medical Systems 0 %, and HNI 0 %
of the Oakmark Equity and Income Fund's total
net assets.
As
of 06/30/14, National Oilwell Varco represented 2.6 %, FedEx Corp. 2.2 %, Baker Hughes, Inc. 2.1 %, Dover Corp. 2.7 %, General Motors Co. 3.2 %, Bank
of America, Inc. 3.1 %, TD Ameritrade Holding Corp. 1.8 %, Carter's Inc. 0.2 %, MasterCard, Inc., Class A 1.9 %, Knowles Corp. 0.5 %, General Dynamics Corp. 1.8 %, Foot Locker, Inc. 1.8 %, Scripps Networks Interactive, Inc., Class A 1.5 %, Aflac, Inc. 0.9 %, Oracle Corp. 3.4 %, Quest Diagnostic, Inc. 0 %, Atlas Air Worldwide Holdings, Inc. 0.1 %, Rowan
Companies plc 0.4 %, Cenovus Energy, Inc. 0 %, Fidelity National Financial, Inc. 1.1 %, Devon Energy Corp. 0 %, and Ultra Petroleum Corp. 0.7 %
of the Oakmark Equity and Income Fund's total
net assets.
Holdings in the funds mentioned as a percentage
of net assets as
of 9/30/2014: Berry Plastics 0.00 %, Cooper Tire & Rubber
Company 0.00 %, Devon Energy Corp. 1.82 % in Global Resources Fund, EOG Resources, Inc. 2.13 % in Global Resources Fund, Goodyear Tire and Rubber
Company 0.00 %, Royal Dutch Shell 0.00 %, SPDR S&P Oil & Gas Exploration & Production ETF 0.00 %, Tiffany & Co. 0.44 % in Gold and Precious Metals Fund.
The securities mentioned above comprise the following percentages
of the Oakmark Equity and Income Fund's total
net assets as
of 03/31/18: MasterCard, Inc., Class A 2.8 %, TE Connectivity, Ltd. 4.1 %, Jones Lang LaSalle, Inc. 0.6 %, Bank
of America Corp. 4.8 %, HCA Healthcare, Inc. 1.3 %, General Motors Co. 4.7 %, CVS Health Corp. 1.9 %, Nestlé ADR 2.8 %, Citigroup Inc. 2.2 %, Arconic, Inc. 1.1 %, UnitedHealth Group, Inc. 2.4 %, Baker Hughes a GE Co. 0.5 %, Philip Morris International, Inc. 2.0 %, Anadarko Petroleum Corp. 0.5 %, Carlisle
Companies, Inc. 0.2 %, Comcast Corp., Class A 1.0 %, CoreLogic, Inc. 0.4 %, Liberty Broadband Corp., Class C 0.4 %, Liberty Broadband Corp..
Now, if a
company takes its IPO proceeds and invests them in cash and marketable securities, then as long as it doesn't generate
net losses or other liabilities, the
company must be worth at least the value
of those
assets, regardless
of how much money was raised by issuing stock.
Importantly, the
company has
net tangible
assets of $ 63m and $ 20m worth
of franking credits.
Unlike most
of our typical investment reports which focus on free cash flow utilization,
net asset value investing, mean reversion
of margins or special situations, this report will look at the investment merits
of a
company that generates little free cash flow at the moment and is somewhat
of a growth investment if
company management is successful in achieving its objectives.
Meanwhile, it will sell its controlling stakes in projects in Guilin, London, Chicago and Australia to Dalian Wanda Commercial for cash, with the prices «based on the
net asset value»
of the
companies.
When launched our global
asset management
company for affluent and high
net worth individuals, families and institutions that wanted to invest alongside us, we made sure our initial Form ADV disclosures contained discussions about some
of the risks.
0 %, Diageo ADR 2.2 %, Glencore PLC 1.2 %, Rowan
Companies plc 0 %, Goldman Sachs Group, Inc. 1.1 %, NOW, Inc. 0 %, and National Oilwell Varco 2.5 %
of the Oakmark Equity and Income Fund's total
net assets.
Prior to starting Dorsey
Asset, he was Director
of Research for Sanibel Captiva Trust, an independent trust
company with approximately $ 1 billion in
assets under management serving high
net worth clients.
The securities mentioned above comprise the following percentages
of the Oakmark Equity and Income Fund's total
net assets as
of 12/31/17: Bank
of America Corp. 5.3 %, TE Connectivity, Ltd. 3.9 %, UnitedHealth Group, Inc. 2.6 %, Ally Financial, Inc. 1.8 %, Dover Corp. 2.6 %, CVS Health Corp. 2.2 %, Baker Hughes a GE Co. 1.2 %, General Electric Co. 0 %, Philip Morris International, Inc. 2.0 %, Oracle Corp. 2.3 %, MasterCard, Inc., Class A 2.6 %, General Motors Co. 5.1 %, Foot Locker, Inc. 1.2 %, Flowserve 0 %, Johnson Controls International PLC 0.6 %, PDC Energy Inc. 0.4 %, TD Ameritrade Holding Corp. 0 %, Herman Miller, Inc. 0 %, Oshkosh Corp. 0 %, VWR Corp. 0 %, Blockchain 0 %, Long Blockchain 0 %, LongFin Corp 0 %, Riot Blockchain 0 %, Intercontinental Technology 0 %, Nodechain 0 %, The Crypto
Company 0 % and New York Times Co. 0 %.
The more that a
company can get out
of its
net assets, the higher its price to book ratio should be.
Why would you only buy things that were 65 % or less
of NCAV where
net current
assets are mostly inventory, where the
company lost money in 4
of the last 10 years, etc..
In our
asset management business,
net sales
of our long - term mutual funds continued to increase through 2009, demonstrating the power
of our distribution network, rising financial markets, and the confidence that clients have in our fund management expertise, as well as the benefits
of our acquisition
of PH&N, which was named fund
company of the year by Lipper.
We believe that at our purchase price, the stock traded at a substantial discount to the
company's
asset value
net of debt.
In addition, the fund may invest up to 40 %
of its
net assets in stocks
of foreign
companies, which involve special risks, including currency fluctuations and economic as well as political uncertainty.
These types
of investment advisors frequently have discretion on how to invest client
assets but instead
of managing the
assets themselves, they outsource the job to
asset management
companies by having the clients buy mutual funds, index funds, and exchange - traded funds or, in the case
of high
net worth clients, opening individually managed accounts with the
asset management
company through a third - party
asset manager platform at a global custodian.
According to the
company's footnote (b) to its Combined Statement
of Revenue, Expenses and Changes in
Net Assets, this increase occurred «mainly» as the result
of an accounting change.
Large cattle station owners such as the Macquarie Group's Paraway Pastoral and the Australian Agricultural
Company had the values of their properties drop but they have rebounded and now shares in AACo are trading at a premium to the company's net tangible
Company had the values
of their properties drop but they have rebounded and now shares in AACo are trading at a premium to the
company's net tangible
company's
net tangible
assets.
This
Net Assets article (published May / Jun 2013) recaps a panel discussion held at the 2013 NBOA Annual Meeting
of financial aid management
companies.