What is Tallgrass Energy Partners LP Earnings Yield (Joel Greenblatt) %?
Tallgrass Energy Partners LP's Enterprise Value for the quarter that ended in Mar. 2018 was $5,138.8 Mil.
Tallgrass Energy Partners LP's EBIT for the trailing twelve months (TTM) ended in Mar. 2018 was $349.0 Mil. Tallgrass Energy Partners LP's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2018 was 6.79%.
The historical rank and industry rank for Tallgrass Energy Partners LP's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
TEP's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Oil & Gas industry.
Industry Median: 6.58 * 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) %. Tallgrass Energy Partners LP's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2018 was 17.36%. 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.
Tallgrass Energy Partners LP Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Tallgrass Energy 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.
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Tallgrass Energy Partners LP Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Tallgrass Energy Partners LP's Earnings Yield (Joel Greenblatt) %
For the Oil & Gas Midstream subindustry, Tallgrass Energy 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.
Tallgrass Energy Partners LP's Earnings Yield (Joel Greenblatt) % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Tallgrass Energy Partners LP's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tallgrass Energy Partners LP's Earnings Yield (Joel Greenblatt) % falls into.
Tallgrass Energy 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.
Tallgrass Energy Partners LPs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2017 is calculated as
Tallgrass Energy Partners LP's EBIT for the trailing twelve months (TTM) ended in Mar. 2018 adds up the quarterly data reported by the company within the most recent 12 months, which was $349.0 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.
Tallgrass Energy Partners LP Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Tallgrass Energy Partners LP's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Tallgrass Energy Partners LP (Tallgrass Energy Partners LP) Business Description
Tallgrass Energy Partners is a young master limited partnership that focuses opportunistically on growth through acquisition and development of natural gas and crude oil transportation, as well as gathering and processing assets. Tallgrass operates and has participating interests in some of the more strategically important midstream assets in the Bakken and Rockies (for example, the REX and Pony Express lines).
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