Williams Partners LP's Enterprise Value for the quarter that ended in Jun. 2018 was $0 Mil.
Williams Partners LP's EBIT for the trailing twelve months (TTM) ended in Jun. 2018 was $1,625 Mil. Williams Partners LP's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2018 was 2.81%.
The historical rank and industry rank for Williams Partners LP's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
ACMP'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -2.5 Med: 4.1 Max: 11.2
Current: 2.52
During the past 11 years, the highest Earnings Yield (Joel Greenblatt) of Williams Partners LP was 11.20%. The lowest was -2.50%. And the median was 4.10%.
ACMP's Earnings Yield (Joel Greenblatt) % is not ranked
in the Oil & Gas industry.
Industry Median: 6.51
vs ACMP: 2.52
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 Jun. 2018 was -18.52%. 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.
* Premium members only.
Williams Partners LP Annual Data
Trend
Dec08
Dec09
Dec10
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Earnings Yield (Joel Greenblatt) %
10.32
5.11
-1.43
3.09
3.27
Williams Partners LP Quarterly Data
Sep13
Dec13
Mar14
Jun14
Sep14
Dec14
Mar15
Jun15
Sep15
Dec15
Mar16
Jun16
Sep16
Dec16
Mar17
Jun17
Sep17
Dec17
Mar18
Jun18
Earnings Yield (Joel Greenblatt) %
4.19
4.21
3.27
2.95
2.81
Competitive Comparison
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 Earnings Yield (Joel Greenblatt) % Distribution
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. 2017 is calculated as
Williams Partners LP's EBIT for the trailing twelve months (TTM) ended in Jun. 2018 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,625 Mil.
Williams Partners LP (NYSE:ACMP) 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 (Williams Partners LP) Business Description
Williams Partners is a large pipeline company that owns and operates the large Transco and Northwest pipeline systems and associated natural gas gathering and processing and storage assets. It also owns a 60% stake in Discovery, which owns offshore natural gas assets in the Gulf of Mexico. Williams Companies, a publicly traded C-Corporation, owns a 74% interest in Williams Partners. The partnership owns the underlying assets while the corporation holds the stake in the limited partnership.
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