What is National Investment Trust Earnings Yield (Joel Greenblatt) %?
National Investment Trust's Enterprise Value for the quarter that ended in . 20 was MWK0.00 Mil.
National Investment Trust does not have enough years/quarters to calculate its EBIT for the trailing twelve months (TTM) ended in . 20. Therefore, GuruFocus does not calculate National Investment Trust's Earnings Yield (Joel Greenblatt) at this moment.
The historical rank and industry rank for National Investment Trust's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
MSW:NITL's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Asset Management industry.
Industry Median: 0 * 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) %. National Investment Trust's Forward Rate of Return (Yacktman) % for the quarter that ended in . 20 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.
National Investment Trust Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for National Investment Trust'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.
* Premium members only.
National Investment Trust Earnings Yield (Joel Greenblatt) % Chart
National Investment Trust Annual Data
Trend
Earnings Yield (Joel Greenblatt) %
National Investment Trust Semi-Annual Data
Earnings Yield (Joel Greenblatt) %
Competitive Comparison of National Investment Trust's Earnings Yield (Joel Greenblatt) %
For the Asset Management subindustry, National Investment Trust'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.
National Investment Trust's Earnings Yield (Joel Greenblatt) % Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, National Investment Trust's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where National Investment Trust's Earnings Yield (Joel Greenblatt) % falls into.
National Investment Trust 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.
National Investment Trusts Earnings Yield (Joel Greenblatt) for the fiscal year that ended in . 20 is calculated as
National Investment Trust (MSW:NITL) Earnings Yield (Joel Greenblatt) % Explanation
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.
National Investment Trust Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of National Investment Trust's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
National Investment Trust (MSW:NITL) Business Description
National Investment Trust PLC is a closed-end collective investment scheme company. The principal objective of the company is to provide a vehicle to facilitate broad public participation in a diverse portfolio of equity investments in Malawi. Its portfolio consists of equity investments, bonds, property and equity of property companies and money market investments. The investment portfolio is managed with a view to providing shareholders with a return by way of both annual income and capital growth. It derives revenue in the form of dividend and interest income.
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