According to @QCompounding, Owner's Earnings equals Earnings Per Share plus Dividend Per Share and is presented as the cash flow available to investors after expenses, source: @QCompounding on X dated 26 Aug 2025. The original Owner's Earnings concept from Warren Buffett instead adjusts reported earnings for non-cash charges and subtracts maintenance capital expenditures and working capital needs, so this simplified formula differs from Buffett's definition, source: Berkshire Hathaway 1986 Shareholder Letter. A yield-based ranking approach can be applied by dividing Owner's Earnings per share by price to form an owner's earnings yield for stock screening, consistent with value strategies that rank by earnings yield, source: Joel Greenblatt 2005 The Little Book That Beats the Market. For crypto traders, shifts in equity cash-flow expectations and risk appetite signaled by such valuation yields matter because Bitcoin's correlation with U.S. equities rose markedly after 2020, increasing cross-asset spillovers, source: IMF Global Financial Stability Note 2022 Cryptic Connections Spillovers between Crypto and Equity Markets.