Heidelberg Materials AG's Enterprise Value for the quarter that ended in Dec. 2023 was $22,960 Mil.
Heidelberg Materials AG's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $3,337 Mil. Heidelberg Materials AG's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 14.66%.
The historical rank and industry rank for Heidelberg Materials AG's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
HDELY'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -6.68 Med: 8.78 Max: 22.46
Current: 13.46
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Heidelberg Materials AG was 22.46%. The lowest was -6.68%. And the median was 8.78%.
HDELY's Earnings Yield (Joel Greenblatt) % is ranked better than 81.03% of 390
companies
in the Building Materials industry
Industry Median: 5.705
vs HDELY: 13.46
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) %. Heidelberg Materials AG's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 15.90%. 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.
Heidelberg Materials AG Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Heidelberg Materials 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 Building Materials subindustry, Heidelberg Materials 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.
Heidelberg Materials AG Earnings Yield (Joel Greenblatt) % Distribution
For the Building Materials industry and Basic Materials sector, Heidelberg Materials AG's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Heidelberg Materials AG's Earnings Yield (Joel Greenblatt) % falls into.
Heidelberg Materials 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.
Heidelberg Materials AGs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
For company reported semi-annually or annually, GuruFocus only calculate annual data for Earnings Yield (Joel Greenblatt) and apply the annual figure to corresponding quarter.
Heidelberg Materials AG (OTCPK:HDELY) 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.
Heidelberg Materials AG Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Heidelberg Materials AG's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Heidelberg Materials AG (Heidelberg Materials AG) Business Description
Heidelberg Materials is one of the world's largest building materials companies, with operations in 60 countries. Its core activities include the production of cement and aggregates, which are used to construct houses, infrastructure, and commercial facilities. The sale of cement and aggregates accounts for the majority of group revenue and profits. North America is the company's largest market, contributing 29% of EBITDA, followed by Western and Southern Europe, contributing 21%. Heidelberg Materials is listed in Germany and has 55,000 employees.
Heidelberg Materials AG (Heidelberg Materials AG) Headlines
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