What is USMD Holdings Earnings Yield (Joel Greenblatt) %?
USMD Holdings's Enterprise Value for the quarter that ended in Jun. 2016 was $251.3 Mil.
USMD Holdings's EBIT for the trailing twelve months (TTM) ended in Jun. 2016 was $-20.1 Mil. USMD Holdings's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2016 was -8.01%.
The historical rank and industry rank for USMD Holdings's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
USMD's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Healthcare Providers & Services industry.
Industry Median: 2.54 * Ranked among companies with meaningful Earnings Yield (Joel Greenblatt) % only.
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) %. USMD Holdings'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.
USMD Holdings Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for USMD Holdings'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 USMD Holdings's Earnings Yield (Joel Greenblatt) %
For the Medical Care Facilities subindustry, USMD Holdings'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.
USMD Holdings's Earnings Yield (Joel Greenblatt) % Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, USMD Holdings's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where USMD Holdings'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.
USMD Holdingss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2015 is calculated as
USMD Holdings'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 $-20.1 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.
USMD Holdings Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of USMD Holdings's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
USMD Holdings (USMD Holdings) Business Description
USMD Holdings Inc is a Delaware corporation formed on May 7, 2010. The Company is a health care management company. It provides healthcare services to patients and management and operational services to hospitals and other healthcare service providers. The Company provides healthcare services to patients in physician clinics, hospitals and other healthcare facilities, including cancer treatment centers and anatomical pathology and clinical laboratories. A wholly owned subsidiary of the Company is the sole member of a Texas Certified Non-Profit Health Organization that owns and operates a multi-specialty physician group practice (USMD Physician Services) in the Dallas-Fort Worth, Texas metropolitan area. Through other wholly owned subsidiaries, the Company provides management and operational services to two short-stay hospitals in the Dallas-Fort Worth, Texas metropolitan area and provides management and/or operational services to three cancer treatment centers in three states and 22 lithotripsy service providers (i.e., kidney stone treatment) located in the South-Central United States. Of these managed entities, the Company has limited ownership interests in the two hospitals, two cancer treatment centers and 20 lithotripsy service providers. In addition, the Company wholly owns and operates two clinical laboratories, one anatomical pathology laboratory, one cancer treatment center and two lithotripsy service providers in the Dallas-Fort Worth, Texas metropolitan area. The Company operates in one physician-led integrated health system segment. It competes for patients with other integrated health systems, physician practices, hospitals, outpatient surgery centers, diagnostic facilities and other free-standing facilities.
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