What is AVANIR Pharmaceuticals Earnings Yield (Joel Greenblatt) %?
AVANIR Pharmaceuticals's Enterprise Value for the quarter that ended in Sep. 2014 was €1,606.26 Mil.
AVANIR Pharmaceuticals's EBIT for the trailing twelve months (TTM) ended in Sep. 2014 was €-35.01 Mil. AVANIR Pharmaceuticals's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2014 was -2.27%.
The historical rank and industry rank for AVANIR Pharmaceuticals's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FRA:AV2B'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -1.5 Med: 332.1 Max: 2474.1
Current: -1.5
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of AVANIR Pharmaceuticals was 2474.10%. The lowest was -1.50%. And the median was 332.10%.
FRA:AV2B's Earnings Yield (Joel Greenblatt) % is not ranked
in the Drug Manufacturers industry.
Industry Median: 2.4
vs FRA:AV2B: -1.50
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. AVANIR Pharmaceuticals's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2014 was 0.00%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
AVANIR Pharmaceuticals Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for AVANIR Pharmaceuticals's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of AVANIR Pharmaceuticals's Earnings Yield (Joel Greenblatt) %
For the Drug Manufacturers - Specialty & Generic subindustry, AVANIR Pharmaceuticals's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
AVANIR Pharmaceuticals's Earnings Yield (Joel Greenblatt) % Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, AVANIR Pharmaceuticals's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where AVANIR Pharmaceuticals's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
AVANIR Pharmaceuticalss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Sep. 2014 is calculated as
AVANIR Pharmaceuticals's EBIT for the trailing twelve months (TTM) ended in Sep. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was €-35.01 Mil.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
AVANIR Pharmaceuticals Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of AVANIR Pharmaceuticals's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
AVANIR Pharmaceuticals (FRA:AV2B) Business Description
Avanir Pharmaceuticals was incorporated in California in August 1988 and was reincorporated in Delaware in March 2009. The Company is a biopharmaceutical company focused on acquiring, developing and commercializing novel therapeutic products for the treatment of central nervous system disorders. The Company commenced promotion of NUEDEXTA in the United States in February 2011. The Company is also studying AVP-923 for use in different types of neuropathic pain. NUEDEXTA is the first and only FDA-approved treatment for pseudobulbar affect. NUEDEXTA is an combination of two components: dextromethorphan hydrobromide, the ingredient that is harmacologically active in the central nervous system, and quinidine sulfate, a metabolic inhibitor enabling dextromethorphan to reach therapeutic plasma concentrations. The Company currently markets NUEDEXTA to approximately 10,000 physicians and other healthcare providers who specialize in psychiatry, neurology or geriatric medicine and practice in outpatient or long-term care settings. NUEDEXTA may face competition from several products: Antidepressants, including Prozac, Celexa, Zoloft, Paxil, Elavil and Pamelor and others; Atypical antipsychotic agents, including Zyprexa, Risperdal, Seroquel, Abilify, Geodon and others; and Miscellaneous agents, including Symmetrel, Lithium and others. The Company is subject to regulation under the Occupational Safety and Health Act, the Environmental Protection Act, the Toxic Substance Control Act, the Export Control Act and other present and future laws of general application.
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