The share price is only 3.5 times cash flow (in the sense of net plus depreciation) for 2010.
The stock's multiples of earnings, cash flow (in the sense of net plus depreciation) and book value all stand at discounts to their respective five-year averages.
The stock also looks relatively less expensive according to the price-to-sales, price-to-cash flow (in the sense of net income plus depreciation) and enterprise multiples.
It sells at eight times my estimate of 2009 earnings, five times cash flow (in the sense of net income plus depreciation) and 1.8 times annual sales.
Still, in that backdrop you can buy it at only one times revenue, seven times trailing earnings and three times cash flow (in the sense of net income plus depreciation).
The first of our three stock screens selected companies in the Worldscope database whose prices today are at historically low multiples of earnings, cash flow (in the sense of net income plus depreciation) and book value.
Now at 30% of revenue, 90% of book value, 7 times 2009 earnings and 3 times cash flow (in the sense of net income plus depreciation), and with a 3.6% dividend yield, it's too cheap to pass up.
One of those I especially like now is May Department Stores (nyse: MAY - news - people ), America's largest such chain, at 50% of annual revenue, 4 times cash flow (in the sense of 2002 net income plus depreciation) and with a 4.1% dividend yield.
Based on U.S. experience in times of high unemployment, a 10% depreciation of the euro would improve net exports by about 1.5% of GDP.
That came to 15 times operating income (in the sense of net before interest, taxes and depreciation).
He wants new purchases to deliver operating margins (net before depreciation, interest and taxes) of 25% within four years.
The antimissile business probably enjoys an operating margin (net before depreciation, interest and taxes) of between 30% and 40%.
The other kind of tax advantage in a fund is net unrealized depreciation.
That, however, did not stop its net losses from mounting as it accelerated the depreciation of its outdated Nextel network and incurred other one-time expenses related to the shutdown.
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This measure, an obsession of real estate research firm Green Street Advisors (which provides us with much of our REIT data), is net income plus depreciation minus maintenance-level capital expenditures.
They run their papers frugally, with operating profit (net before depreciation, interest and taxes) averaging 25% of revenue.
The average REIT trades at 17 times the real estate version of earnings, called funds from operations (net income plus depreciation, minus nonrecurring gains).
The cable billing runs an operating margin (net before depreciation, interest and taxes, as a percent of sales) of 11%, versus 30% for fund servicing.
Wall Street is learning to disregard its long-running unprofitability and looking at its doubling of operating cash flow this year (that's net before depreciation, interest and taxes).
The corresponding net rental value of an apartment building is only partly exempt, by dint of depreciation deductions.
It pays dividends out of a flow of cash called "funds from operations"--essentially, net income with depreciation added back in.
Result: Operating profit (net before depreciation, interest and taxes) in the truck group rose to 15% of revenue last year, from 8% in 1996.
Various costs are subtracted from the revenues to calculate various progressively smaller measures of profit and loss: gross income, net income, EBITDA (earnings before interest, taxes, depreciation and amortization), taxable income, etc.
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ProLogis has bested the others in the appreciation of its properties' worth, called net asset value, and in growth of earnings, whose REIT version is known as adjusted funds from operations (AFFO): net income plus depreciation, minus one-time items and maintenance outlays (see table).
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