What is Modern Dental Group Earnings Yield (Joel Greenblatt) %?
Modern Dental Group's Enterprise Value for the quarter that ended in Dec. 2023 was HK$4,243 Mil.
Modern Dental Group's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was HK$550 Mil. Modern Dental Group's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 12.97%.
The historical rank and industry rank for Modern Dental Group's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
HKSE:03600'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.59 Med: 9.38 Max: 26.08
Current: 11.83
During the past 10 years, the highest Earnings Yield (Joel Greenblatt) of Modern Dental Group was 26.08%. The lowest was 1.59%. And the median was 9.38%.
HKSE:03600's Earnings Yield (Joel Greenblatt) % is ranked better than 92.92% of 848
companies
in the Medical Devices & Instruments industry
Industry Median: 0.005
vs HKSE:03600: 11.83
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) %. Modern Dental Group's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 25.88%. 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.
Modern Dental Group Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Modern Dental Group'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.
* Premium members only.
Modern Dental Group Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Modern Dental Group's Earnings Yield (Joel Greenblatt) %
For the Medical Instruments & Supplies subindustry, Modern Dental Group'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.
Modern Dental Group's Earnings Yield (Joel Greenblatt) % Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Modern Dental Group's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Modern Dental Group's Earnings Yield (Joel Greenblatt) % falls into.
Modern Dental Group 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.
Modern Dental Groups Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
For company reported semi-annually or annually, GuruFocus only calculate annual data for Earnings Yield (Joel Greenblatt) and apply the annual figure to corresponding quarter.
Modern Dental Group (HKSE:03600) 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.
Modern Dental Group Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Modern Dental Group's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Modern Dental Group (HKSE:03600) Business Description
Modern Dental Group Ltd, along with its subsidiaries, is engaged in providing dental prosthetic devices. Its product portfolio is categorized into three segments, Fixed prosthetic devices such as crowns and bridges; Removable prosthetic devices such as removable dentures; and Other devices such as orthodontic devices, sports guards, and anti-snoring devices, raw materials, dental equipment, and services of educational events and seminars rendered. It generates a majority of the revenue from the sale of the Fixed prosthetic devices segment. Its geographical segments are Europe, North America, Australia, Greater China, and other countries.
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