The historical rank and industry rank for Changmao Biochemical Engineering Co's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
HKSE:00954'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -8.73 Med: 12.8 Max: 37.45
Current: -8.58
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Changmao Biochemical Engineering Co was 37.45%. The lowest was -8.73%. And the median was 12.80%.
HKSE:00954's Earnings Yield (Joel Greenblatt) % is ranked worse than 91.67% of 1573
companies
in the Chemicals industry
Industry Median: 4.04
vs HKSE:00954: -8.58
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) %. Changmao Biochemical Engineering Co's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 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.
Changmao Biochemical Engineering Co Earnings Yield (Joel Greenblatt) % Historical Data
* 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.
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Changmao Biochemical Engineering Co Earnings Yield (Joel Greenblatt) % Chart
For the Specialty Chemicals subindustry, Changmao Biochemical Engineering Co'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.
Changmao Biochemical Engineering Co's Earnings Yield (Joel Greenblatt) % Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Changmao Biochemical Engineering Co's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Changmao Biochemical Engineering Co's Earnings Yield (Joel Greenblatt) % falls into.
Changmao Biochemical Engineering Co Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
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.
Changmao Biochemical Engineering Co Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Changmao Biochemical Engineering Co's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Changmao Biochemical Engineering Co (HKSE:00954) Business Description
Changmao Biochemical Engineering Co Ltd is an organic acid producer in the PRC. It produces organic acids products for sale to the food additive, chemical, and pharmaceutical industries. Its products are organic acids and their derivatives with four carbons in their structures including fumaric acid, maleic acid, L-malic acid, D-malic acid, DL-malic acid, L(+)-tartaric acid, D(-)-tartaric acid, DL-tartaric acid, L-aspartic acid, and aspartame. These products are used as food additives or medical intermediaries. Its products are produced along vertical production chains. Its geographic locations include Mainland China, Europe includes Great Britain, Germany, Turkey, Spain, and Italy, Asia Pacific includes Hong Kong, Indonesia, Australia, India, Thailand and Japan, America, and Others.
Changmao Biochemical Engineering Co (HKSE:00954) Headlines
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