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Bulgarian Stock Exchange AD (XBUL:BSE) Earnings Yield (Joel Greenblatt) % : -5.95% (As of Sep. 2023)


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What is Bulgarian Stock Exchange AD Earnings Yield (Joel Greenblatt) %?

Bulgarian Stock Exchange AD's Enterprise Value for the quarter that ended in Sep. 2023 was лв-160.92 Mil. Bulgarian Stock Exchange AD's EBIT for the trailing twelve months (TTM) ended in Sep. 2023 was лв9.58 Mil. Bulgarian Stock Exchange AD's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2023 was -5.95%.

The historical rank and industry rank for Bulgarian Stock Exchange AD's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

XBUL:BSE' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -28.39   Med: -4.52   Max: 51.58
Current: -7.46

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Bulgarian Stock Exchange AD was 51.58%. The lowest was -28.39%. And the median was -4.52%.

XBUL:BSE's Earnings Yield (Joel Greenblatt) % is ranked better than
66.45% of 784 companies
in the Capital Markets industry
Industry Median: 2.665 vs XBUL:BSE: -7.46

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) %. Bulgarian Stock Exchange AD's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2023 was 104.94%. 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.

Bulgarian Stock Exchange AD 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.

Bulgarian Stock Exchange ADs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2022 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=5.128/-196.444272
=-2.61 %

Bulgarian Stock Exchange AD's EBIT for the trailing twelve months (TTM) ended in Sep. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was лв9.58 Mil.


Bulgarian Stock Exchange AD  (XBUL:BSE) 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.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.

Bulgarian Stock Exchange AD Earnings Yield (Joel Greenblatt) % Related Terms

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Bulgarian Stock Exchange AD (XBUL:BSE) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Bulgarian Stock Exchange AD (XBUL:BSE) » Definitions » Earnings Yield (Joel Greenblatt) %
Comparable Companies
BOM:524828 BOM:532878 BOM:532989 BOM:532384 BOM:532305 BOM:531633 BOM:524606 BOM:539938 BOM:506128 BOM:506197 SPGI CME ICE MCO LSE:LSEG HKSE:00388 MSCI SZSE:300059 XTER:DB1 NDAQ
Traded in Other Exchanges
N/A
Address
10 Tri ushi Street, Sofia, BGR, 1301
Website
http://www.bse-sofia.bg
Bulgarian Stock Exchange AD is functioning stock exchange in Bulgaria. The principal activity of the group is to organize trade in securities and other financial instruments; organize and maintain an information system for security deals; and establish and maintain a clearing system. It has aggregated its operations into three reportable segments - Trading in Financial Instruments, Information Services, and Registration of Issues for Trading. It offers a wide range of RSS information services to serve the corporate clients, such as data-vendors, investment intermediaries, and issuers. The group performs their activities in Bulgaria only.