What is Corinthian Colleges Earnings Yield (Joel Greenblatt) %?
Corinthian Colleges's Enterprise Value for the quarter that ended in Jun. 2013 was €219 Mil.
Corinthian Colleges's EBIT for the trailing twelve months (TTM) ended in Jun. 2013 was €22 Mil. Corinthian Colleges's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2013 was 9.86%.
The historical rank and industry rank for Corinthian Colleges's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FRA:CH7's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Education industry.
Industry Median: 5.555 * 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) %. Corinthian Colleges's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2013 was 10.32%. 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.
Corinthian Colleges Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Corinthian Colleges'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 Corinthian Colleges's Earnings Yield (Joel Greenblatt) %
For the Education & Training Services subindustry, Corinthian Colleges'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.
Corinthian Colleges's Earnings Yield (Joel Greenblatt) % Distribution in the Education Industry
For the Education industry and Consumer Defensive sector, Corinthian Colleges's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Corinthian Colleges'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.
Corinthian Collegess Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Jun. 2013 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.
Corinthian Colleges Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Corinthian Colleges's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Corinthian Colleges (FRA:CH7) Business Description
Corinthian Colleges Inc is a post-secondary education company in the United States and Canada. It offers diploma programs and associate, bachelors and master's degrees through a single operating segment. As of June 30, 2013, it has a student enrollment of 81,284 and operated 97 schools in 25 states, and 14 schools in the province of Ontario, Canada. The Company has acquired 76 colleges including the Heald acquisition and has opened 35 branch campuses. Its training program areas include healthcare, criminal justice, business, mechanical, trades, and information technology. The Company's diploma programs provide students with the requisite knowledge and job skills for entry-level positions in their chosen career.Key elements of its operating strategy includes emphasize Student Outcomes, create an Effective Learning Environment, focus on Attractive Markets, manage School and Program Performance, Standardize Key Business Processes and Centralize Key Functions.
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