What is Albemarle & Bond Holdings Earnings Yield (Joel Greenblatt) %?
Albemarle & Bond Holdings's Enterprise Value for the quarter that ended in Jun. 2013 was £118.0 Mil.
Albemarle & Bond Holdings's EBIT for the trailing twelve months (TTM) ended in Jun. 2013 was £6.7 Mil. Albemarle & Bond Holdings's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2013 was 5.70%.
The historical rank and industry rank for Albemarle & Bond Holdings's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
LSE:ABM's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Credit Services industry.
Industry Median: 0.6 * 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) %. Albemarle & Bond Holdings's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2013 was 1.78%. 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.
Albemarle & Bond Holdings Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Albemarle & Bond Holdings'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.
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Albemarle & Bond Holdings Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Albemarle & Bond Holdings's Earnings Yield (Joel Greenblatt) %
For the Credit Services subindustry, Albemarle & Bond Holdings'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.
Albemarle & Bond Holdings's Earnings Yield (Joel Greenblatt) % Distribution in the Credit Services Industry
For the Credit Services industry and Financial Services sector, Albemarle & Bond Holdings's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Albemarle & Bond Holdings's Earnings Yield (Joel Greenblatt) % falls into.
Albemarle & Bond Holdings 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.
Albemarle & Bond Holdingss 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.
Albemarle & Bond Holdings Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Albemarle & Bond Holdings's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Albemarle & Bond Holdings (LSE:ABM) Business Description
Albemarle & Bond Holdings PLC was incorporated on January 17, 1986. The Company is a holding company engaged in pawnbroking, retail jewellery sales, gold purchasing, unsecured lending, including cheque cashing and other financial services. It has approximately 230 stores and 1,000 employees. Operating under the two brands, Albemarle Bond and Herbert Brown, it provides its customers with a range of services including jewellery retailing, pawnbroking loans, gold purchasing and a range of unsecured loan products. The pawn loan is secured against jewellery for a maximum of six months. The customer can redeem their jewellery by repaying the loan and interest owing at any time without incurring penalties for early redemption. The Company provides short-term loans through three products, PayDay Advances, Speedloans, and Cheque Cashing. PayDay Advances offer customers short-term unsecured loans to meet their cash flow requirements until wages are received. Speedloans provide customers with immediately available installment loans over a longer term of between six and 18 months and Cheque Cashing provides access to their cash for customers who have received cheques. The Company offers a range of new and second hand jewellery. Herbert Brown offers a range of new, second hand and antique jewellery.
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