What is Heartware International, Earnings Yield (Joel Greenblatt) %?
Heartware International,'s Enterprise Value for the quarter that ended in Jun. 2016 was €0.0 Mil.
Heartware International,'s EBIT for the trailing twelve months (TTM) ended in Jun. 2016 was €-38.8 Mil. Heartware International,'s Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2016 was -4.26%.
The historical rank and industry rank for Heartware International,'s Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FRA:HIY1'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -13.6 Med: 0.7 Max: 0.7
Current: -4.08
During the past 10 years, the highest Earnings Yield (Joel Greenblatt) of Heartware International, was 0.70%. The lowest was -13.60%. And the median was 0.70%.
FRA:HIY1's Earnings Yield (Joel Greenblatt) % is not ranked
in the Medical Devices & Instruments industry.
Industry Median: 0.06
vs FRA:HIY1: -4.08
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) %. Heartware International,'s Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2016 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.
Heartware International, Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Heartware International,'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 Heartware International,'s Earnings Yield (Joel Greenblatt) %
For the Medical Devices subindustry, Heartware International,'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.
Heartware International,'s Earnings Yield (Joel Greenblatt) % Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Heartware International,'s Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Heartware International,'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.
Heartware International,s Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2015 is calculated as
Heartware International,'s EBIT for the trailing twelve months (TTM) ended in Jun. 2016 adds up the quarterly data reported by the company within the most recent 12 months, which was €-38.8 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.
Heartware International, Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Heartware International,'s Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Heartware International, (FRA:HIY1) Business Description
Heartware International Inc was incorporated in Delaware on July 29, 2008 and became the successor issuer to HeartWare Limited, an Australian corporation, on November 13, 2008, as a result of the Australian Court approved redomiciliation of HeartWare Limited from Australia to Delaware. HeartWare is a medical device company engaged in developing implantable blood pumps for the treatment of advanced heart failure. The Company operates one reportable segment which includes the design, manufacture and marketing of medical devices for the treatment of advanced heart failure. The HeartWare Ventricular Assist System, which includes a left ventricular assist device, or blood pump, patient accessories and surgical tools, is designed to provide circulatory support for patients with advanced heart failure. Beyond the HeartWare System, the company is also evaluating its next device, the Miniaturized Ventricular Assist Device. The MVAD is based on the same technology platform as the HeartWare System but adopts an axial flow, rather than a centrifugal flow, configuration and is being developed in multiple configurations. The MVAD designs are currently at the preclinical stage and undergoing animal studies focused on minimally invasive implantation techniques and are each approximately one-third the size of the HVAD Pump. The Company's competitors in the implantable cardiac assist space include Thoratec Corporation, Jarvik Heart, Inc., MicroMed Cardiovascular, Berlin Heart GmbH, and Sunshine Heart, Inc. HEARTWARE, HVAD, MVAD, PAL, CIRCULITE, SYNERGY and various company logos are the trademarks of the Company, in the United States, Europe, Australia and other countries.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FRA:HIY1 has been successfully added to your 