Fresenius Medical Care AG's Enterprise Value for the quarter that ended in Dec. 2023 was $25,001 Mil.
Fresenius Medical Care AG's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $1,573 Mil. Fresenius Medical Care AG's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 6.38%.
The historical rank and industry rank for Fresenius Medical Care AG's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FMS'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.53 Med: 7.2 Max: 12.97
Current: 6.36
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Fresenius Medical Care AG was 12.97%. The lowest was 5.53%. And the median was 7.20%.
FMS's Earnings Yield (Joel Greenblatt) % is ranked better than 76.3% of 675
companies
in the Healthcare Providers & Services industry
Industry Median: 2.6
vs FMS: 6.36
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) %. Fresenius Medical Care AG's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 13.04%. 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.
Fresenius Medical Care AG Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Fresenius Medical Care AG'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.
For the Medical Care Facilities subindustry, Fresenius Medical Care AG'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.
Fresenius Medical Care AG Earnings Yield (Joel Greenblatt) % Distribution
For the Healthcare Providers & Services industry and Healthcare sector, Fresenius Medical Care AG's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Fresenius Medical Care AG's Earnings Yield (Joel Greenblatt) % falls into.
Fresenius Medical Care AG 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.
Fresenius Medical Care AGs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Fresenius Medical Care AG's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,573 Mil.
Fresenius Medical Care AG (NYSE:FMS) 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.
Fresenius Medical Care AG Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Fresenius Medical Care AG's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Fresenius Medical Care AG (Fresenius Medical Care AG) Business Description
Fresenius Medical Care is the largest dialysis company in the world, treating about 345,000 patients from over 4,100 clinics across the globe as of December 2022. In addition to providing dialysis services, the firm is a leading supplier of dialysis products, including machines, dialyzers, and concentrates. Fresenius accounts for about 35% of the global dialysis products market and benefits from being the world's only fully integrated dialysis business. Services account for roughly 80% of firmwide revenue, including care coordination and ancillary operations, while products account for the other roughly 20%. Products typically enjoy a higher margin, making them a strong contributor to the bottom line.
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