What is Newcrest Mining Earnings Yield (Joel Greenblatt) %?
Newcrest Mining's Enterprise Value for the quarter that ended in Jun. 2023 was $17,361 Mil.
Newcrest Mining's EBIT for the trailing twelve months (TTM) ended in Jun. 2023 was $1,208 Mil. Newcrest Mining's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2023 was 7.00%.
The historical rank and industry rank for Newcrest Mining's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
NCMGY'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -60.57 Med: 5.55 Max: 16.76
Current: 7.8
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Newcrest Mining was 16.76%. The lowest was -60.57%. And the median was 5.55%.
NCMGY's Earnings Yield (Joel Greenblatt) % is not ranked
in the Metals & Mining industry.
Industry Median: -12.335
vs NCMGY: 7.80
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) %. Newcrest Mining's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2023 was 14.73%. 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.
Newcrest Mining Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Newcrest Mining'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 Newcrest Mining's Earnings Yield (Joel Greenblatt) %
For the Gold subindustry, Newcrest Mining'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.
Newcrest Mining's Earnings Yield (Joel Greenblatt) % Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Newcrest Mining's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Newcrest Mining'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.
Newcrest Minings Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Jun. 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.
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.
Newcrest Mining Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Newcrest Mining's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Newcrest Mining (Newcrest Mining) Business Description
Newcrest is an Australia-based gold and, to a lesser extent, copper miner. Operations are mainly in Australia and Papua New Guinea. The company also owns a 32% stake in the Fruta Del Norte gold mine in Ecuador, while the acquisition of Brucejack in 2022 adds to its 70% stake in the Red Chris mine in Canada. The company is likely to produce around 2 million ounces of gold per year over the next decade, making it one of the larger global gold producers but still only accounting for less than 2% of total supply. Cash costs are below the industry average, underpinned by improvements at Lihir and Cadia. Organic growth options include its Havieron prospect, the Red Chris underground mine, and the high-grade Wafi-Golpu copper-gold prospect in PNG.
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