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[Borza] Tema: KRKG - Krka
[#2486206] 22.12.14 19:51 · odgovor na: anon-56333 (#2486203)
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Zadnja sprememba: tilenrexi 22.12.2014 20:07
Pomembno je samo to, da so zadovoljni lastniki kapitala, ki te dolgoročno podpirajo. Tega pri nas še ne razumemo, oziroma nočemo razumeti, ker gledamo večinoma samo na jutrišnji dan in ne za 10 let vnaprej.

Največji odkupi lastnih delnic v USD - 2014;

Apple 30 milijard
Wells Fargo 17 milijard
3M 12 milijard
AT&T 10.5 milijard


Primer (se opravičujem za tekst v angleščini);

Example - How buybacks affect EPS and book value per share
XYZ Corporation: pre-buyback

Total assets $300 billion - Total liabilities $150 billion
Book value = $150 billion
Book value $150 billion / Shares outstanding 1 billion
Book value per share = $150
Annual earnings $20 billion / Shares outstanding 1 billion
Earnings per share = $20
EPS $20 / Book value $150 per share
Return on equity = 13.3%

Assume XYZ's stock is trading for $200 per share and XYZ buys back half of all its shares (500 million in all), or a total of $100 billion of shares. In the real world this would take place over a number of years at various prices, but for illustration purposes let's assume it all happened at once.
XYZ Corporation: post-buyback
Note: $100 billion of cash assets was spent to buy 500 million shares at $200 per share.

Total assets $200 billion - Total liabilities $150 billion
Book value = $50 billion
Book value $50 billion / Shares post-buyback 0.50 billion
Book value per share = $100 per share
Annual earnings $20 billion / Shares post-buyback 0.5 billion
Earnings per share = $40 per share
EPS $40 per share / Book value $100 per share
Return on equity = 40.0%

Notice that when the shares are repurchased above the current book value per share, it lowers the book value per share. If the stock was trading below book value, which is rare, the company could have raised its book value per share through a buyback.