What is West Marine Earnings Yield (Joel Greenblatt) %?
West Marine's Enterprise Value for the quarter that ended in Jun. 2017 was $211.6 Mil.
West Marine's EBIT for the trailing twelve months (TTM) ended in Jun. 2017 was $14.8 Mil. West Marine's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2017 was 6.99%.
The historical rank and industry rank for West Marine's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
WMAR's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Retail - Cyclical industry.
Industry Median: 4.855 * 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) %. West Marine's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2017 was 3.60%. 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.
West Marine Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for West Marine'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.
West Marine Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of West Marine's Earnings Yield (Joel Greenblatt) %
For the Specialty Retail subindustry, West Marine'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.
West Marine's Earnings Yield (Joel Greenblatt) % Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, West Marine's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where West Marine's Earnings Yield (Joel Greenblatt) % falls into.
West Marine 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.
West Marines Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2016 is calculated as
West Marine's EBIT for the trailing twelve months (TTM) ended in Jun. 2017 adds up the quarterly data reported by the company within the most recent 12 months, which was $14.8 Mil.
West Marine (NAS:WMAR) 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.
West Marine Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of West Marine's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
West Marine Inc is a specialty retailer offering core boating and water recreation products. The company's core boating products include maintenance, electronics, sailboat hardware, anchors/docking/moorings, engine systems, safety, electrical, plumbing, boats/outboards, ventilation, deck hardware/fasteners, navigation, trailering, seating/boat covers and barbecues/appliances. Its merchandise expansion products include apparel, footwear, clothing accessories, fishing, watersports, paddlesports, coolers, and waterlife lifestyle accessories. Most of the company's revenue comes from its core boating products.
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