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Parnell Pharmaceuticals Holdings (Parnell Pharmaceuticals Holdings) Earnings Yield (Joel Greenblatt) % : 14.60% (As of Dec. 2018)


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What is Parnell Pharmaceuticals Holdings Earnings Yield (Joel Greenblatt) %?

Parnell Pharmaceuticals Holdings's Enterprise Value for the quarter that ended in Dec. 2018 was $32.02 Mil. Parnell Pharmaceuticals Holdings's EBIT for the trailing twelve months (TTM) ended in Dec. 2018 was $5.26 Mil. Parnell Pharmaceuticals Holdings's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2018 was 14.60%.

The historical rank and industry rank for Parnell Pharmaceuticals Holdings's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

PARNF's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Drug Manufacturers industry.
Industry Median: 2.405
* 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) %. Parnell Pharmaceuticals Holdings's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2018 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.


Parnell Pharmaceuticals Holdings Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Parnell Pharmaceuticals 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.

* Premium members only.

Parnell Pharmaceuticals Holdings Earnings Yield (Joel Greenblatt) % Chart

Parnell Pharmaceuticals Holdings Annual Data
Trend Jun12 Jun13 Jun14 Dec15 Dec16 Dec17 Dec18
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial -8.71 -15.02 -46.95 -32.36 14.60

Parnell Pharmaceuticals Holdings Semi-Annual Data
Jun12 Jun13 Jun14 Dec15 Dec16 Dec17 Dec18
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial -8.71 -15.02 -46.95 -32.36 14.60

Competitive Comparison of Parnell Pharmaceuticals Holdings's Earnings Yield (Joel Greenblatt) %

For the Drug Manufacturers - Specialty & Generic subindustry, Parnell Pharmaceuticals 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.


Parnell Pharmaceuticals Holdings's Earnings Yield (Joel Greenblatt) % Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Parnell Pharmaceuticals Holdings's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Parnell Pharmaceuticals Holdings's Earnings Yield (Joel Greenblatt) % falls into.



Parnell Pharmaceuticals 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.

Parnell Pharmaceuticals Holdingss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2018 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=5.256/32.01832
=16.42 %

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.



Parnell Pharmaceuticals Holdings  (OTCPK:PARNF) 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.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Parnell Pharmaceuticals Holdings Earnings Yield (Joel Greenblatt) % Related Terms

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Parnell Pharmaceuticals Holdings (Parnell Pharmaceuticals Holdings) Business Description

Traded in Other Exchanges
N/A
Address
476 Gardeners Road, Unit 4, Century Estate, Alexandria, Sydney, NSW, AUS, 2015
Parnell Pharmaceuticals Holdings Ltd is an Australia based veterinary pharmaceutical company. It is focused on developing, manufacturing and commercializing animal health solutions. The group manufactures and market products for companion animals and production animals. The firm also has a pipeline of drug products like Zydax, PAR121 and PAR122 and Luminous which covers therapeutic areas in orthopedics, dermatology, and nutraceuticals. The operating segments of the company are Companion animal, Production animal - U.S., Production animal - rest of world and Contract Manufacturing. It operates internationally and generates the majority of the revenue from the Production animal - U.S. segment which covers the group's reproductive hormone portfolio across production animal in the USA.