Enjoyed this video? Then subscribe to the channel, and let's review the related concept of financial leverage next: th-cam.com/video/GESzfA9odgE/w-d-xo.html
Amazing tutorial. Clear and to the point explanations supported with examples from real compnies. I have leanred so much in a few minutes. Time well spent!
Here's my video on CapEx vs OpEx th-cam.com/video/na4jbAh_vkQ/w-d-xo.html and one on asset impairment th-cam.com/video/lWMDdtHF4ZU/w-d-xo.html Hope these help!
Philip, Where we can see holding Asset as other Public traded company in Balance Sheet? In Other long-term assets? For example PBF Energy (PBF) hold 48% of other public traded company PBF Logistics (PBFX).
Hi Dmitry. That depends on whether the "parent company" does or does not have control of the subsidiary. th-cam.com/video/DTFD912ZJQg/w-d-xo.html I browsed through the PBF financial statements in the annual report, but it is not immediately clear to me how this parent-subsidiary relationship works, as there are a lot of interconnections.
@@TheFinanceStoryteller From PBF Logistics (PBFX) annual report www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_PBFX_2019.pdf "PBF LLC held a 48.2% limited partner interest in us, and a non-economic general partner interest, with the remaining 51.8% limited partner interest held by public unitholders."
That sounds like PBF does not have control of PBFX (unless the voting rights are different than the economic ownership - please check). If it is not an entity they control, then full results are not consolidated, and they would use the equity method of investment accounting for the 48% part (a single line item asset on the balance sheet called something like "Equity investment in subsidiaries", and an account in the income statement below Operating Margin that is called "Income from non-consolidated subsidiary" (or something like that).
@@TheFinanceStoryteller Thanks Philip. Will clarify that with their IR. Because MV $800K of 6 refineries (Total: 1 million bpd). One of the refinery connected directly to LAX (2nd most busies airport in USA) And if they own 48% of PBFX (MV $500K) gives us even more cheapest evaluation of PBF compared to rivals (VLO HFC)
On the accounting profit side, the interesting question is how much impairment/write-down they have taken. Every big name oil company (BP, Chevron, ExxonMobil, Shell) has taken one or multiple steps to decrease the book value of their assets based on the new economic circumstances. In terms of future free cash flow projections, the question is what the expectations are on air travel and transportation in general.
At some point in the future (not on ROA, but elsewhere), you will need to use a calculation called the weighted average. Might as well familiarize yourself with this right now 😉 th-cam.com/video/v9PPiUlkMEs/w-d-xo.html
this is great man, didn't think of slicing up ROA into 2 different accounting measures to get a clear look, nevertheless looking at the financial statement and sorting out differences. Thanks
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Enjoyed this video? Then subscribe to the channel, and let's review the related concept of financial leverage next: th-cam.com/video/GESzfA9odgE/w-d-xo.html
Note: the fiscal year of Walmart runs until January 31st, not December 31st as mentioned in the video. My apologies!
Amazing tutorial. Clear and to the point explanations supported with examples from real compnies. I have leanred so much in a few minutes. Time well spent!
Thanks sir for the video. i wanted to know how to know capex and how to know functional and non functional assets from the balance sheet?
Here's my video on CapEx vs OpEx th-cam.com/video/na4jbAh_vkQ/w-d-xo.html and one on asset impairment th-cam.com/video/lWMDdtHF4ZU/w-d-xo.html Hope these help!
Appreciate you and your time making these videos!
You're very welcome, my friend! :-)
real and practical. thanks for the video sir
Happy to help!!! 😊
Thank you! Big help.
You're welcome! Nice to hear that.
Philip,
Where we can see holding Asset as other Public traded company in Balance Sheet? In Other long-term assets?
For example PBF Energy (PBF) hold 48% of other public traded company PBF Logistics (PBFX).
Hi Dmitry. That depends on whether the "parent company" does or does not have control of the subsidiary. th-cam.com/video/DTFD912ZJQg/w-d-xo.html I browsed through the PBF financial statements in the annual report, but it is not immediately clear to me how this parent-subsidiary relationship works, as there are a lot of interconnections.
@@TheFinanceStoryteller
From PBF Logistics (PBFX) annual report www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_PBFX_2019.pdf
"PBF LLC held a 48.2% limited partner interest in us, and a non-economic
general partner interest, with the remaining 51.8% limited partner interest held by public unitholders."
That sounds like PBF does not have control of PBFX (unless the voting rights are different than the economic ownership - please check). If it is not an entity they control, then full results are not consolidated, and they would use the equity method of investment accounting for the 48% part (a single line item asset on the balance sheet called something like "Equity investment in subsidiaries", and an account in the income statement below Operating Margin that is called "Income from non-consolidated subsidiary" (or something like that).
@@TheFinanceStoryteller
Thanks Philip. Will clarify that with their IR.
Because MV $800K of 6 refineries (Total: 1 million bpd).
One of the refinery connected directly to LAX (2nd most busies airport in USA)
And if they own 48% of PBFX (MV $500K) gives us even more cheapest evaluation of PBF compared to rivals (VLO HFC)
On the accounting profit side, the interesting question is how much impairment/write-down they have taken. Every big name oil company (BP, Chevron, ExxonMobil, Shell) has taken one or multiple steps to decrease the book value of their assets based on the new economic circumstances. In terms of future free cash flow projections, the question is what the expectations are on air travel and transportation in general.
Can I have a request for accounting can u discuss on how to get the avera of total asset
Sum the opening balance and the ending balance, and then divide by 2.
@@TheFinanceStoryteller ohhhh ok
At some point in the future (not on ROA, but elsewhere), you will need to use a calculation called the weighted average. Might as well familiarize yourself with this right now 😉 th-cam.com/video/v9PPiUlkMEs/w-d-xo.html
Top uitleg en presentatie!
Dank je wel, Willem! :-)
Thanks again
Always welcome
this is great man, didn't think of slicing up ROA into 2 different accounting measures to get a clear look, nevertheless looking at the financial statement and sorting out differences. Thanks
Thank you, Dolev! That was a great video to make. I love that kind of digging into the drivers of financial performance. :-) So much you can find!
you are masterpiece!
Thank you, Afrina! 😊 More on ROE-ROA-ROS-ROIC-etc in this playlist: th-cam.com/video/bhbDDSohJ84/w-d-xo.html
@@TheFinanceStoryteller i have watched all sir! What formula for Earning After Tax or does the formula same with Return on Sales? 😁
Yes, that should be the same calculation, just different names for the same thing.
@@TheFinanceStoryteller much appreciated sir! gonna tell my friends to subscribe your channel!!
Please do! Hope they enjoy it too.