LSI's Enterprise Value for the quarter that ended in Mar. 2014 was €4,071 Mil.
LSI's EBIT for the trailing twelve months (TTM) ended in Mar. 2014 was €106 Mil. LSI's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2014 was 2.63%.
The historical rank and industry rank for LSI's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FRA:LOG's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Semiconductors industry.
Industry Median: 2.155 * 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) %. LSI's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2014 was 3.32%. 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.
LSI Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for LSI'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 LSI's Earnings Yield (Joel Greenblatt) %
For the Semiconductors subindustry, LSI'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.
LSI's Earnings Yield (Joel Greenblatt) % Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, LSI's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where LSI'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.
LSIs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2013 is calculated as
LSI's EBIT for the trailing twelve months (TTM) ended in Mar. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was €106 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.
LSI Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of LSI's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
LSI Corporation was incorporated in California on November 6, 1980, and was reincorporated in Delaware on June 11, 1987. The Company designs, develops and markets networking semiconductors and storage systems. It provides silicon-to-system solutions that are used to create, store, consume and transport digital information. It offers integrated circuits used in hard disk drives, solid state drives, high-speed communications systems, computer servers, storage systems and personal computers. It also offers external storage systems, storage systems software, redundant array of independent disks, or RAID, adapters for computer servers, and RAID software applications. The Company has two segments — the Semiconductor segment and the Storage Systems segment. Its semiconductor segment designs, develops and markets complex integrated circuits for storage and networking applications. These solutions include both custom solutions and standard products. It designs custom solutions for a specific application defined by the customer. The Company develops products for market applications that it defines and sells them to multiple customers. It sells its integrated circuits for storage applications to makers of hard disk drives, solid state drives and computer servers. It sells its integrated circuits for networking applications principally to makers of devices used in computer and telecommunications networks and, to a lesser extent, to makers of personal computers. Its storage systems segment designs and sells enterprise storage systems and storage software applications that enable storage area networks. The Company also offers RAID adapters for computer servers and associated software for attaching storage devices to computer servers. It sells its storage systems and storage solutions mainly to OEMs who resell these products to end customers under their own brand name. The semiconductor industry is competitive and is characterized by rapidly changing technology, short product cycles and emerging standards. The semiconductor manufacturing process begins with wafer fabrication, where a design is transferred to silicon wafers through a series of processes, including photolithography, ion implantation, deposition of numerous films and the etching of these various films and layers. On January 3, 2012, the company acquired SandForce, Inc., a provider of flash storage processors, or FSPs, for enterprise and client flash solutions and solid state drives, or SSDs. Federal, state and local regulations, in addition to those of other nations, impose various environmental controls on certain chemicals and restricted substances used in the manufacture of semiconductor and storage products.
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