The amount a thrift club will pay will now depend on how much it makes minus the value of prizes paid.
The return is the annual rental value, minus operating costs like property taxes, heating bills, lawn care and insurance.
On the minus side, fair value depends largely on managers' subjective judgment.
This phone company's enterprise multiple (market value plus debt minus cash, divided by Ebitda) is 9.
Rodriguez, for instance, ranks first in pay and fifth in production (his FTPN was 605), for a value differential of minus 4.
Determine your net worth, which is the value of your assets minus your liabilities.
Superior Well's enterprise value (market value plus debt, minus cash) is 29 times its trailing operating income (earnings before interest, taxes and depreciation), also costly.
In another measure, the ratio of price to tangible book value (shareholders' equity minus intangibles like goodwill), Citi is close to typical at 3.6.
With enterprise value (stock plus debt minus cash) at just seven times operating income (in the sense of Ebitda), O-I is in line with another big packager, Crown Holdings (95% of it metal), and is cheaper than Ball Corp.
With enterprise value (stock plus debt minus cash) at just seven times operating income (in the sense of Ebitda), O-I is in line with another big packager, Crown Holdings (95% of it metal), and is cheaper than Ball Corp. (nyse: BLL - news - people ), whose enterprise multiple is nine.
Its enterprise value (market cap plus debt minus cash) is 7.5 times operating income (Ebitda, that is).
One guide might be the net present value of future tax payments, minus the net costs of public services disbursed there.
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With a trailing multiple of enterprise value (market cap plus debt minus cash) to operating income of 14, giant Comcast is cheaper than its smaller, slower-growing peers.
GM's car business (that is, GM minus the Hughes Electronics stake) has a market value half that of Yahoo.
So the actual value of this 15 tonnes is zero minus whatever it costs to guard it until destruction and the costs of that destruction.
But the Financial Times reported that financial stocks are trading above the book value (assets, including cash, minus liabilities) of the companies for the first time since July.
Crew is a Wall Street darling, as you can see in its high enterprise multiple, defined as the ratio of enterprise value (market value of common, plus debt, minus cash) to Ebitda (earnings before interest, taxes, depreciation and amortization).
This is the ratio of enterprise value (market value of common stock, plus debt, minus cash) to operating income (earnings before interest, taxes, depreciation and amortization).
His formula involves adding two main variables: the dealership's assets minus overall debt (also called "net tangible book value"), plus what Hall calls the "blue sky" value, equal to the dealer's pretax income times some multiple between one and six, depending on the health of the operation.
That would be a fair value for stocks in a newly recovering economy but minus the 25% reset, which is gone until the next bubble.
Mr Osborne will also say the sale's valuation of Northern Rock's "price-to-book value ratio" - that is, its assets minus its liabilities - is higher than peers Barclays, Lloyds TSB or the Royal Bank of Scotland.
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Based on the assumption that all future generations will have to pay the bills that today's generation has left behind, Mr Kotlikoff tries to measure the present value of net future taxes (that is, taxes to be paid minus benefits, such as pensions, to be received) for individuals of different ages over their remaining lifetimes and, collectively, for future generations.
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