What is Oiltanking Partners LP Earnings Yield (Joel Greenblatt) %?
Oiltanking Partners LP's Enterprise Value for the quarter that ended in Sep. 2014 was €3,328.1 Mil.
Oiltanking Partners LP's EBIT for the trailing twelve months (TTM) ended in Sep. 2014 was €113.5 Mil. Oiltanking Partners LP's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2014 was 3.54%.
The historical rank and industry rank for Oiltanking Partners LP's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FRA:4OT's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Oil & Gas industry.
Industry Median: 6.215 * 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) %. Oiltanking Partners LP's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2014 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.
Oiltanking Partners LP Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Oiltanking 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.
For the Oil & Gas Midstream subindustry, Oiltanking 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.
Oiltanking Partners LP's Earnings Yield (Joel Greenblatt) % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Oiltanking Partners LP's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Oiltanking Partners LP'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.
Oiltanking Partners LPs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2013 is calculated as
Oiltanking Partners LP's EBIT for the trailing twelve months (TTM) ended in Sep. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was €113.5 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.
Oiltanking Partners LP Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Oiltanking Partners LP's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Oiltanking Partners LP (FRA:4OT) Business Description
Oiltanking Partners LP is a Delaware limited partnership formed in March 2011. The Company engages in the terminaling, storage and transportation of crude oil, refined petroleum products and liquefied petroleum gas. Its terminal assets are strategically located along the upper Gulf Coast of the United States. At December 31, 2013, the Company had nearly 22 million barrels of total active storage capacity at its Houston and Beaumont facilities. These integrated facilities are strategically located and directly connected to 23 key refining, production and storage facilities along the Gulf Coast and the Cushing, Oklahoma storage interchange through dedicated and common carrier pipelines. In addition, its facilities provide its customers deep-water access and international distribution capabilities. The Company provides services to integrated oil companies, distributors, marketers and chemical and petrochemical companies, typically under long-term commercial agreements that include minimum volume commitments and inflation escalators. It operates as a third-party crude oil and refined petroleum products terminals on the Houston Ship Channel. It provides integrated terminaling, storage, pipeline and related services for third-party companies engaged in the production, distribution and marketing of crude oil, refined petroleum products and liquefied petroleum gas. The Company faces competition from a variety of international, national and regional energy companies, including large, diversified midstream partnerships, global terminal operators and large multi-national energy companies of varying sizes, financial resources and experience. The Company's operations are subject to stringent federal, state and local laws and regulations governing the release of materials into the environment, health and safety aspects of its operations, and otherwise relating to the protection of the environment. Compliance with these laws and regulations may require the acquisition of permits to conduct regulated activities; restrict the type, quantities and concentration of wastes or other pollutants that may be emitted, discharged or disposed into or onto to the land, air and water; apply specific health and safety criteria addressing worker protection; and impose liabilities for pollution from operations.
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