What is Williams Partners LP Earnings Yield (Joel Greenblatt) %?
Williams Partners LP's Enterprise Value for the quarter that ended in Sep. 2014 was €29,047 Mil.
Williams Partners LP's EBIT for the trailing twelve months (TTM) ended in Sep. 2014 was €1,038 Mil. Williams Partners LP's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2014 was 3.24%.
The historical rank and industry rank for Williams Partners LP's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FRA:WP8'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.3 Med: 5.3 Max: 42.8
Current: 3.5
During the past 12 years, the highest Earnings Yield (Joel Greenblatt) of Williams Partners LP was 42.80%. The lowest was 3.30%. And the median was 5.30%.
FRA:WP8's Earnings Yield (Joel Greenblatt) % is not ranked
in the Oil & Gas industry.
Industry Median: 6.16
vs FRA:WP8: 3.50
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) %. Williams Partners LP's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2014 was -27.19%. 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.
Williams Partners LP Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Williams Partners LP'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.
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Williams Partners LP Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Williams Partners LP's Earnings Yield (Joel Greenblatt) %
For the Oil & Gas Midstream subindustry, Williams Partners LP'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.
Williams Partners LP's Earnings Yield (Joel Greenblatt) % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Williams Partners LP's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Williams Partners LP's Earnings Yield (Joel Greenblatt) % falls into.
Williams Partners LP Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Williams Partners LPs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2013 is calculated as
Williams Partners LP'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 €1,038 Mil.
Williams Partners LP (FRA:WP8) Earnings Yield (Joel Greenblatt) % Explanation
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.
Williams Partners LP Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Williams Partners LP's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Williams Partners LP (FRA:WP8) Business Description
Williams Partners LP is a publicly traded Delaware limited partnership formed by The Williams Companies, Inc. (Williams) in 2005. It is an energy infrastructure company. The Company is engaged in natural gas transportation; gathering, treating, and processing; storage; NGL fractionation; olefins production; and oil transportation. The operations of its businesses are located in North America. The Company's operations are divided into four business segments: Northeast G&P — this segment includes its natural gas gathering and processing and NGL fractionation businesses in the Marcellus and Utica shale regions, Atlantic-Gulf — this segment includes its interstate natural gas pipeline, Transco, and significant natural gas gathering and processing and crude oil production handling and transportation in the Gulf Coast region, West — this segment includes its natural gas gathering, processing and treating operations in New Mexico, Colorado, and Wyoming and its interstate natural gas pipeline, Northwest Pipeline, and NGL & Petchem Services — this segment includes its NGL and natural gas marketing business, an NGL fractionator and storage facilities near Conway, Kansas. The Company markets NGL products to a wide range of users in the energy and petrochemical industries. The NGL marketing business transports and markets its equity NGLs from the production at its processing plants, and also markets NGLs on behalf of third-party NGL producers, including some of our fee-based processing customers, and the NGL volumes owned by Discovery. The Company also market olefin products to a wide range of users in the energy and petrochemical industries. Its gathering and processing business competes with other midstream companies, interstate and intrastate pipelines, producers and independent gatherers and processors. The Company's operations are subject to federal environmental laws and regulations as well as the state, local, and tribal laws and regulations adopted by the jurisdictions in which they operate.
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