What is Asia Cork Earnings Yield (Joel Greenblatt) %?
Asia Cork's Enterprise Value for the quarter that ended in Dec. 2010 was €0.00 Mil.
Asia Cork's EBIT for the trailing twelve months (TTM) ended in Dec. 2010 was €4.65 Mil. Asia Cork's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2010 was 41.15%.
The historical rank and industry rank for Asia Cork's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
STU:6A3's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Furnishings, Fixtures & Appliances industry.
Industry Median: 5.44 * 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) %. Asia Cork's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2010 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.
Asia Cork Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Asia Cork'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.
Asia Cork Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Asia Cork's Earnings Yield (Joel Greenblatt) %
For the Furnishings, Fixtures & Appliances subindustry, Asia Cork'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.
Asia Cork's Earnings Yield (Joel Greenblatt) % Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Asia Cork's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Asia Cork's Earnings Yield (Joel Greenblatt) % falls into.
Asia Cork 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.
Asia Corks Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2010 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.
Asia Cork (STU:6A3) 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.
Asia Cork Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Asia Cork's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Asia Cork Incorporated formerly known as Hankersen International Corp., was incorporated under the laws of the State of Delaware on August 1, 1996. On July 11, 2008, the Company's wholly owned subsidiary, Asia Cork Inc., was merged into its parent, the Company, in order to change the name of the Company, after approval by the Board of Directors of the Company according to the Delaware General Corporation Law. As permitted by Delaware General Corporation Law, the Company assumed the name of its wholly owned subsidiary following the merger and now operates under the name Asia Cork Inc. The Company through its subsidiaries is engaged in the development, manufacture and distribution of cork products including cork wood floor, wall and decorating materials. It produces approximately seven series of cork flooring planks with over approximately 50 different patterns, colors and granules. It produces approximately 16 types of cork wallboard and approximately three types of cork art crafts with different patterns. It products include Cork Granule, Cork Sheet and Roll, Glue-down Floor, Floating Floor, Cork Wallboard and Basic Board. All these products utilize staining technology to create different colors. Its cork art crafts include ornaments and decorations. Wallboard could also be used as decorative material. It also sells semi-finished cork products to other manufacturers which use cork granule and sheet roll as raw materials. Cork granule comes in varies sizes and is the early stage of cork material processing. It sells its products directly to customers in China through its own sales team, and it distributes its products to customers overseas through unrelated distributors and sales agents. The countries in which its products were distributed through these sales agents include India, the United States of America, Germany and Japan. The Company competes with Portugal cork manufacturers as its major product is cork stopper used for wine bottles, which usually accounts for one third of its total sales and even higher percentage of profit. Domestically, the Company competes with local mid-sized cork manufacturers. These companies' products are semi-finished cork boards, sheets and roles.
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