Daily Journal Corporation

NasdaqCM:DJCO Rapport sur les actions

Capitalisation boursière : US$637.3m

Daily Journal Croissance future

Future contrôle des critères 0/6

Nous ne disposons actuellement pas d'une couverture d'analyste suffisante pour prévoir la croissance et les revenus de Daily Journal.

Informations clés

n/a

Taux de croissance des bénéfices

n/a

Taux de croissance du BPA

Software croissance des bénéfices19.7%
Taux de croissance des recettesn/a
Rendement futur des capitaux propresn/a
Couverture par les analystes

None

Dernière mise à journ/a

Mises à jour récentes de la croissance future

Pas de mise à jour

Recent updates

Seeking Alpha • Jun 18

Daily Journal: Currently Fairly Valued

Summary My December sell rating on DJCO was driven by its extreme 3.2x price-to-book valuation, which has since corrected with a 30% share price drop. Daily Journal is a unique blend of legacy newspaper publishing and a niche legal software business, with deep roots in Charlie Munger's investment philosophy. Munger's stewardship compounded the Company's book value per share 30-fold over 28.5 years, outpacing the S&P 500's returns in that period. With the passing of Charlie Munger, DJCO will unlikely return to its premium valuation. Currently, Daily Journal shares are fairly valued according to a sum-of-the-parts model. Read the full article on Seeking Alpha
Article d’analyse • Dec 19

Investors Will Want Daily Journal's (NASDAQ:DJCO) Growth In ROCE To Persist

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Article d’analyse • Nov 07

Revenues Not Telling The Story For Daily Journal Corporation (NASDAQ:DJCO) After Shares Rise 26%

Daily Journal Corporation ( NASDAQ:DJCO ) shares have continued their recent momentum with a 26% gain in the last month...
Article d’analyse • Nov 07

Optimistic Investors Push Daily Journal Corporation (NASDAQ:DJCO) Shares Up 26% But Growth Is Lacking

Despite an already strong run, Daily Journal Corporation ( NASDAQ:DJCO ) shares have been powering on, with a gain of...
Article d’analyse • Aug 24

Daily Journal (NASDAQ:DJCO) Is Experiencing Growth In Returns On Capital

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Typically, we'll want to...
Article d’analyse • Aug 04

Daily Journal Corporation's (NASDAQ:DJCO) Popularity With Investors Is Under Threat From Overpricing

Daily Journal Corporation's ( NASDAQ:DJCO ) price-to-sales (or "P/S") ratio of 8x might make it look like a strong sell...
Article d’analyse • May 08

Returns At Daily Journal (NASDAQ:DJCO) Are On The Way Up

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a...
Article d’analyse • Mar 05

Why We're Not Concerned About Daily Journal Corporation's (NASDAQ:DJCO) Share Price

Daily Journal Corporation's ( NASDAQ:DJCO ) price-to-sales (or "P/S") ratio of 7x may look like a poor investment...
Article d’analyse • Nov 16

There's Been No Shortage Of Growth Recently For Daily Journal's (NASDAQ:DJCO) Returns On Capital

There are a few key trends to look for if we want to identify the next multi-bagger. Ideally, a business will show two...
Seeking Alpha • Sep 28

Charlie Munger's Daily Journal Corporation Is A Cohiba Cigar Butt

Summary According to Ben Graham's value investment classic "The Intelligent Investor," the definition of a net-net is a company trading below its net working capital value. Warren Buffett re-coined the term, cigar butt, for having one puff left. Daily Journal Corporation is by no means a one-puff pony, this is a well-managed holdings company with Charlie Munger's previous management and influence. Daily Journal is trading below its working-capital value Daily Journal Corporation (DJCO) is a business and legal news and advertising editorial in California. Until his recent step-down as chairman of the board in April, the marketable securities investment side of the business was run by Charlie Munger for the last 45 years. While the company likes to say that they are not a smaller version of Berkshire Hathaway (BRK.A, BRK.B), the operations have a resemblance. The company operates several small newspaper circulations throughout California, most focused on the legal and business communities. While the company does generate about $50 million a year in the news business, overhead and salaries amount to roughly $48 million of that, generating a net income of $2.15 million FY 2021. What the company has in common with the original Berkshire Hathaway is that it has built up a holding in marketable securities that makes up the vast majority of its assets, to the tune of $347 million worth for a company with a $326 million market cap. Over the years, whilst the news and advertising business had been dwindling, Charlie Munger as Chairman of the Board was overseeing the investment of retained earnings into stock holdings. At this point, dividends alone make up more net income than what is provided by the media part of the business, with unrealized gains of $244 million. Being that this is a business that is nearly self-sustainable at this point, the company also carries very little debt. It has put the company in a rare situation where they are now trading below net current asset value, with $372 million in total current assets and only $33.5 million in debt. We will further examine one of the original Benjamin Graham value metrics in this article, the net-net, or as Warren Buffett termed it, the cigar butt valuation. My thesis is this is a buy, especially in an economic downturn where the margin of safety is becoming ever more important. In this case, I like to call the Daily Journal a Cohiba butt, because it is certainly an elite version of a discounted dollar. What is a net-net ? This is a term you may have heard uttered by value investment gurus. Many value funds from the 1950s even up until now hunt for companies that are trading below liquidation value. Buffett and Graham were obsessed with these because, in poor economic times, they provide the highest margin of safety. Nick Sleep, who ran Nomad Partnership in the early 2000s, also started by looking for dollars selling for .50 cents. Nomad was so determined to find cigar butts at first that they even bought net-nets in Zimbabwe. You find these deals more often than not in smaller cap companies that don't require a lot of debt to sustain the business. Daily Journal Corporation is certainly in this category. The exercise in finding a net-net is both simple and unique. It is the only valuation metric I am aware of that solely relies on the balance sheet and disregards the income and cash flow statement. Many of you out there have a copy of Benjamin Graham's The Intelligent Investor. If you are so inclined, you can open your copy and flip to pages 390-391, where you will see a succinct description of how to perform the exercise: Technically, the working-capital value of a stock is the current assets per share, minus the current liabilities per share, divided by the number of shares outstanding. All three of these items are lined up right on the balance sheet. Let's examine the balance sheet of the Daily Journal and go through the exercise: Daily Journal Balance Sheet (yahoo finance) 1. Here we can see total current assets are $372 million FY 2021. 2. Subtracting out the total debt of $33 million, we get net current assets of $338 million. 3. Ordinary shares, (shares issued minus those in treasury from buybacks not yet retired), are only 1.38 million. Taking the net current assets of $338 million and dividing it by 1.38 million shares outstanding gets us $245 a share in net current assets. As the majority of these are marketable securities, with a tad over $12 million being held in just cash, let's take a look at their holdings next. Daily Journal Corporation 13 F DJCO holdings mrq (whalewisdom.com) Heavy focus on banks With large holdings in Bank of America (BAC), Wells Fargo (WFC), and U.S. Bancorp (USB), Buffett, Munger, and Graham have always been big proponents of bank stocks. Buffett likes them because they always trade at fair valuations to assets and earnings, but are also a great hedge against inflation. As the dollar value of homes, cars, and all other goods requiring consumer debt goes up, it doesn't take a larger workforce to generate higher dollar loans against those goods. All you have to do is move commas and decimal points. Banks are unique in that their revenue and income will grow with the economy without adding costs. The biggest costs to banks are normally defaults and bad loans. One of the larger holdings that was recently halved is Alibaba (BABA, BABAF). The Daily Journal took significant losses on this holding, as have other elite hedge funds that got too enthusiastic about the "Amazon of China" moniker. Rounding out the bottom of the list is POSCO (PKX), a Korean steel company that is trading at .32 price-to-book and 4.5 X forward earnings. The banks and POSCO are all trading well under their Graham number value (22.5 × (Earnings Per Share) × (Book Value Per Share), while Alibaba was a stock that discounted free cash flow practitioners had high hopes for, but continued to revise down. From the majority of the selections on the list, we can see that Munger's thought process is at least 80% centered around the original theses of The Intelligent Investor. Additionally, the company does not pay a dividend. This holds true to the Berkshire Hathaway model that tax efficiency and compounding are the main tenets of its business model. Daily Journal's other operations This is, in a nutshell, Charlie Munger's deferred tax vehicle brainchild, but let's see what else they do outside of the part Munger managed: Daily Journal Corporation (the "Company") publishes newspapers and websites reporting California and Arizona news and produces several specialized information services. It also serves as a newspaper representative specializing in public notice advertising. This is sometimes referred to as the Company's "Traditional Business." Journal Technologies, Inc. ("Journal Technologies"), a wholly-owned subsidiary of the Company, supplies case management software systems and related products to courts, prosecutor and public defender offices, probation departments and other justice agencies, including administrative law organizations, city and county governments and bar associations. These organizations use the Journal Technologies family of products to help manage cases and information electronically, to interface with other critical justice partners and to extend electronic services to the public, including e-filing and a website to pay traffic citations and fees online. These products are licensed in 42 states and internationally. Essentially all of the Company's U.S. operations are based in California, Arizona and Utah. The Company also has a presence in Australia where Journal Technologies is working on three software installation projects. Financial information of the Company, including information about each of the Company's reportable segments, is set forth in Item 8 ("Financial Statements and Supplementary Data").-Daily Journal 2021 10K
Article d’analyse • Sep 27

Is Daily Journal (NASDAQ:DJCO) A Risky Investment?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Seeking Alpha • Aug 12

Daily Journal GAAP EPS of -$22.31, revenue of $34.8M

Daily Journal press release (NASDAQ:DJCO): 9M  GAAP EPS of -$22.31. Revenue of $34.8M (-8.3% Y/Y).
Seeking Alpha • May 17

Daily Journal Corporation: Attractively Priced If Its Investments Pay Off

Daily Journal Corporation has done well to grow its new core business in recent years, creating real value for its investors. But the real value lies in the fact that the business has a significant portfolio of securities on its books. Factoring this into the equation, shares look quite cheap, but this could change based on investment performance.
Seeking Alpha • Nov 05

Daily Journal: A Value Stock With A Margin Of Safety

The Daily Journal has been trending sideways for 18 months now. However, the company reported a large profit, giving the stock a 3.5x P/E. This surge in profits could indicate a reason to be optimistic. Accordingly, I’m bullish DJCO over the next five to seven years due to its strong operating businesses and public securities holdings.
Article d’analyse • Feb 11

How Much Does Daily Journal's (NASDAQ:DJCO) CEO Make?

The CEO of Daily Journal Corporation ( NASDAQ:DJCO ) is Gerald Salzman, and this article examines the executive's...
Article d’analyse • Jan 25

What Percentage Of Daily Journal Corporation (NASDAQ:DJCO) Shares Do Insiders Own?

A look at the shareholders of Daily Journal Corporation ( NASDAQ:DJCO ) can tell us which group is most powerful. Large...
Article d’analyse • Jan 07

Daily Journal Corporation's (NASDAQ:DJCO) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?

Daily Journal's (NASDAQ:DJCO) stock is up by a considerable 48% over the past three months. However, we decided to pay...
Article d’analyse • Dec 17

Is Daily Journal (NASDAQ:DJCO) Using Debt In A Risky Way?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Article d’analyse • Nov 21

If You Had Bought Daily Journal (NASDAQ:DJCO) Shares Five Years Ago You'd Have Earned 36% Returns

If you buy and hold a stock for many years, you'd hope to be making a profit. Better yet, you'd like to see the share...

Dans cette section, nous présentons généralement des projections de croissance du chiffre d'affaires et des bénéfices basées sur les estimations consensuelles d'analystes professionnels afin d'aider les investisseurs à comprendre la capacité de l'entreprise à générer des bénéfices. Mais comme Daily Journal n'a pas fourni suffisamment de données passées et n'a pas de prévisions d'analystes, ses bénéfices futurs ne peuvent pas être calculés de manière fiable en extrapolant les données passées ou en utilisant les prévisions des analystes.

Il s'agit d'une situation assez rare car 97% des entreprises couvertes par SimplyWall St disposent de données financières passées.

Prévisions de croissance des bénéfices et des revenus

NasdaqCM:DJCO - Estimations futures des analystes et données financières antérieures (USD Millions )
DateRecettesLes revenusFlux de trésorerie disponibleCash from OpMoy. Nombre d'analystes
3/31/202694141414N/A
12/31/2025909399N/A
9/30/2025881121313N/A
6/30/202579971212N/A
3/31/20257310666N/A
12/31/2024727633N/A
9/30/2024707800N/A
6/30/2024724533N/A
3/31/2024722299N/A
12/31/202371161112N/A
9/30/202368211515N/A
6/30/202365-171313N/A
3/31/202360-27910N/A
12/31/202255-65-3-3N/A
9/30/202254-76-5-5N/A
6/30/202247-32-7-7N/A
3/31/20224820-7-7N/A
12/31/2021516166N/A
9/30/20215011333N/A
6/30/20215114644N/A
3/31/20215011844N/A
12/31/2020494933N/A
9/30/202050422N/A
6/30/202050-4001N/A
3/31/202052-5100N/A
12/31/20195011N/A1N/A
9/30/201949-25N/A2N/A
6/30/201946-18N/A4N/A
3/31/201942-23N/A-1N/A
12/31/201841-28N/A-4N/A
9/30/2018418N/A-2N/A
6/30/20184212N/A-5N/A
3/31/20184112N/A-5N/A
12/31/20174215N/A-2N/A
9/30/201741-1N/A-3N/A
6/30/201739-1N/A-2N/A
3/31/2017400N/A0N/A
12/31/201641-3N/A2N/A
9/30/201642-1N/A1N/A
6/30/2016430N/A3N/A
3/31/2016440N/A3N/A
12/31/2015430N/A6N/A
9/30/2015441N/A8N/A
6/30/2015452N/A5N/A

Prévisions de croissance des analystes

Taux de revenus par rapport au taux d'épargne: Données insuffisantes pour déterminer si la croissance des bénéfices prévue de DJCO est supérieure au taux d'épargne ( 3.5% ).

Bénéfices vs marché: Données insuffisantes pour déterminer si les bénéfices de DJCO devraient croître plus rapidement que le marché US

Croissance élevée des bénéfices: Données insuffisantes pour déterminer si les bénéfices de DJCO devraient augmenter de manière significative au cours des 3 prochaines années.

Chiffre d'affaires vs marché: Données insuffisantes pour déterminer si les revenus de DJCO devraient croître plus rapidement que le marché US.

Croissance élevée des revenus: Données insuffisantes pour déterminer si les revenus de DJCO devraient croître plus rapidement que 20% par an.

Prévisions de croissance du bénéfice par action

Rendement futur des capitaux propres

ROE futur: Données insuffisantes pour déterminer si le retour sur capitaux propres de DJCO devrait être élevé dans 3 ans

Découvrir les entreprises en croissance

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Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2026/05/18 23:48
Cours de l'action en fin de journée2026/05/18 00:00
Les revenus2026/03/31
Revenus annuels2025/09/30

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github; nous proposons également des guides expliquant comment utiliser nos rapports et des tutoriels sur Youtube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

Daily Journal Corporation est couverte par 0 analystes. 0 de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.