What is Stockland Earnings Yield (Joel Greenblatt) %?
Stockland's Enterprise Value for the quarter that ended in Dec. 2023 was $11,011 Mil.
Stockland's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $253 Mil. Stockland's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 0.00%.
The historical rank and industry rank for Stockland's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
STKAF'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 0.74 Med: 7.68 Max: 13.15
Current: 2.42
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Stockland was 13.15%. The lowest was 0.74%. And the median was 7.68%.
STKAF's Earnings Yield (Joel Greenblatt) % is ranked worse than 52.95% of 897
companies
in the REITs industry
Industry Median: 2.78
vs STKAF: 2.42
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) %. Stockland's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 0.00%. 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.
Stockland Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Stockland'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 Stockland's Earnings Yield (Joel Greenblatt) %
For the REIT - Diversified subindustry, Stockland'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.
Stockland's Earnings Yield (Joel Greenblatt) % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Stockland's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Stockland'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.
Stocklands 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.
Stockland Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Stockland's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Stockland is Australia's largest housing developer, and this division generates about a third of the group's funds-from-operations. Nearly two thirds comes from commercial property, about half of which is retail. It also has a growing land-lease business. The mix is evolving. Earnings from the residential development division are volatile though we expect volumes and margins to improve over the next five years, after a challenging 2023 where interest rate rises caused house price falls. In commercial property the group is trimming retail and adding office and industrial via acquisitions and developments. Stockland-stapled securities comprise one share in the corporation that largely operates developments and one unit in a trust that holds the property portfolio.
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