What is Furmanite Earnings Yield (Joel Greenblatt) %?
Furmanite's Enterprise Value for the quarter that ended in Sep. 2015 was $252.4 Mil.
Furmanite's EBIT for the trailing twelve months (TTM) ended in Sep. 2015 was $18.1 Mil. Furmanite's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2015 was 7.17%.
The historical rank and industry rank for Furmanite's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FRM's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Construction industry.
Industry Median: 6.42 * 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) %. Furmanite's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2015 was 12.37%. 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.
Furmanite Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Furmanite'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 Furmanite's Earnings Yield (Joel Greenblatt) %
For the Engineering & Construction subindustry, Furmanite'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.
Furmanite's Earnings Yield (Joel Greenblatt) % Distribution in the Construction Industry
For the Construction industry and Industrials sector, Furmanite's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Furmanite'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.
Furmanites Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2014 is calculated as
Furmanite's EBIT for the trailing twelve months (TTM) ended in Sep. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was $18.1 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.
Furmanite Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Furmanite's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Furmanite Corp was incorporated in Delaware on January 23, 1953. It provides specialized technical services. The Company together with its subsidiaries conducts business under two operating segments; Technical Services and Engineering & Project Solutions. Technical Services provides specialized technical services, including on-line, off-line and other services. On-line services include leak sealing, hot tapping, line stopping, line isolation, composite repair, valve testing and certain non-destructive testing and inspection services, while off-line services include on-site machining, heat treatment, bolting, valve repair and other non-destructive testing and inspection services. Other services include smart shim services, concrete repair, engineering services, valves and other products and manufacturing. These services and products are provided mainly to electric power generating plants, the petroleum industry, which includes refineries and off-shore drilling rigs, chemical plants and other process industries in the Americas, EMEA and Asia-Pacific through a wholly owned subsidiary of the Parent Company, Furmanite Worldwide, Inc. and its domestic and international subsidiaries and affiliates. The Engineering & Project Solutions operating segment, which includes Furmanite Technical Solutions, provides project planning, professional engineering, downstream non-destructive testing and inspection, construction management, mechanical integrity, field support, quality assurance and plant asset management services, as well as certain other inspection and project management services. Customers include refining and petrochemical operators as well as maintenance, and engineering and construction contractors servicing the downstream and midstream oil and gas markets, all of which are in the Americas. The Company currently operates over 30 offices in the United States. The Company competes against large and well established national and international companies as well as regional and local companies. It also competes with the in-house maintenance departments of customers or potential customers. Many aspects of the Company's operations are subject to governmental regulation.
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