It's Earnings That Count by Hewitt Heiserman

Author:Hewitt Heiserman [Heiserman, Hewitt]
Language: eng
Format: mobi
Publisher: McGraw-Hill Education
Published: 2003-12-02T05:00:00+00:00

Table 6.6 Types of Profits: Wrigley. For the year ending December 31, 2002 (thousands except per-share)

As we see in Table 6.6, Wrigley’s accrual profits of $401.5 million, or $1.78 per share, compare with enterprising profits of $275 million, or $1.22 per share. This is encouraging news, because it means management created value. If you are an enterprising investor, you want to own companies that create value because that’s a sign that the company is sound and more attractive than the average. Companies create value when they earn a high return on capital.

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