What is Medivation Earnings Yield (Joel Greenblatt) %?
Medivation's Enterprise Value for the quarter that ended in Jun. 2016 was $9,673 Mil.
Medivation's EBIT for the trailing twelve months (TTM) ended in Jun. 2016 was $-263 Mil. Medivation's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2016 was -2.72%.
The historical rank and industry rank for Medivation's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
MDVN's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Biotechnology industry.
Industry Median: -15.455 * 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) %. Medivation'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.
Medivation Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Medivation'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 Medivation's Earnings Yield (Joel Greenblatt) %
For the Biotechnology subindustry, Medivation'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.
Medivation's Earnings Yield (Joel Greenblatt) % Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Medivation's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Medivation'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.
Medivations Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2015 is calculated as
Medivation'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 $-263 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.
Medivation Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Medivation's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Medivation Inc was formed in Delaware in October 1995. The Company is a biopharmaceutical company engaged in the rapid development of novel small molecule drugs to treat diseases for which there are limited treatment options. Together with its collaboration partner Astellas Pharma Inc., or Astellas, the Company is developing XTANDI enzalutamide capsules. Together with Astellas, it is also conducting multiple trials of enzalutamide in earlier prostate cancer disease states, including the Phase 3 PREVAIL trial in patients with mCRPC who have not received chemotherapy, or pre-chemotherapy mCRPC patients, and in patients with breast cancer. Based on the positive results of the AFFIRM trial, the Company has exercised its right under its collaboration agreement with Astellas to co-promote XTANDI in the U.S., should it receive marketing approval. Their subsidiaries are Medivation Prostate Therapeutics Inc or MPT, Medivation Neurology Inc or MNI, Medivation Technologies Inc, or MTI, Medivation Field Solutions, Inc., or MFSI, and Medivation Services, Inc., or MSI. MPT holds the intellectual property rights covering XTANDI. MNI holds the intellectual property rights covering dimebon, which was in development for Alzheimer's disease and Huntington disease under its former collaboration with Pfizer. MTI holds the intellectual property rights covering its early-stage technologies. MFSI provides commercialization services to the Company, and MSI provides research and development services. It has received "Fast Track" designation from the U.S. Food and Drug Administration for the post-docetaxel indication. The Company is conducting this program in collaboration with Astellas. The Company is subject to extensive regulation by the Federal Food, Drug, and Cosmetic Act, or the FDC Act, and other federal and state statutes and regulations, govern, among other things, the research, development, testing, manufacture, storage, recordkeeping, approval, labeling, promotion and marketing, distribution, post-approval monitoring and reporting, sampling, and import and export of pharmaceutical products.
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