What is Vectren Earnings Yield (Joel Greenblatt) %?
Vectren's Enterprise Value for the quarter that ended in Sep. 2018 was $8,276 Mil.
Vectren's EBIT for the trailing twelve months (TTM) ended in Sep. 2018 was $270 Mil. Vectren's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2018 was 3.26%.
The historical rank and industry rank for Vectren's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
VVC's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Utilities - Regulated industry.
Industry Median: 6.935 * 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) %. Vectren's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2018 was 1.17%. 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.
Vectren Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Vectren'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 Vectren's Earnings Yield (Joel Greenblatt) %
For the Utilities - Regulated Gas subindustry, Vectren'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.
Vectren's Earnings Yield (Joel Greenblatt) % Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Vectren's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Vectren'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.
Vectrens Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2017 is calculated as
Vectren's EBIT for the trailing twelve months (TTM) ended in Sep. 2018 adds up the quarterly data reported by the company within the most recent 12 months, which was $270 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.
Vectren Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Vectren's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Vectren Corp is an energy holding company whose principal business is the ownership of energy utility companies in the American state of Indiana. Vectren Corp has three wholly owned subsidiaries: Indiana Gas Company, Southern Indiana Gas and Electric Company (SIGECO), and Vectren Energy Delivery of Ohio (VEDO). The company derives roughly half of its total revenue from both the natural gas and electricity distribution services provided by SIGECO and VEDO to primarily residential and commercial consumers in Indiana. Vectren Corp's Infrastructure Services business represents the other half of its total revenue generation. Within this unit, the company provides underground pipeline construction and repair services to utilities companies, such as its own subsidiaries.
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