What was the total equity for Bumble Roofing as of September 30, 2023, as restated?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
D STATEMENTS OF MEMBER'S EQUITY FOR THE YEARS ENDING SEPTEMBER 30, 2024, 2023, AND 2022
| Consolidated Member's Equity | Noncontrolling Interest | Total Equity | |
|---|---|---|---|
| Balance, September 30, 2021, as Previously Stated | $ 90,140,596 | $ - |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the total equity as of September 30, 2023, as restated, was $249,789,245. This figure represents the sum of the consolidated member's equity ($249,909,128) and the noncontrolling interest deficit ($119,883).
Equity represents the owner's stake in the company, calculated as assets minus liabilities. A restatement occurs when a company revises previously issued financial statements to correct an error. In this case, the equity has been restated, indicating that previous financial figures were adjusted for accuracy.
For a prospective Bumble Roofing franchisee, this figure provides insight into the overall financial health and stability of the franchisor. A higher equity amount generally suggests a stronger financial position. However, it's essential to consider this figure in conjunction with other financial metrics and industry benchmarks to gain a comprehensive understanding of the company's financial performance and stability. Reviewing the trends in equity over the years (2022, 2023, and 2024) can also provide valuable context.