GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Distribution » China National Accord Medicines Corp Ltd (SZSE:000028) » Definitions » Earnings Yield (Joel Greenblatt) %

China National Accord Medicines (SZSE:000028) Earnings Yield (Joel Greenblatt) % : 12.52% (As of Mar. 2024)


View and export this data going back to 1993. Start your Free Trial

What is China National Accord Medicines Earnings Yield (Joel Greenblatt) %?

China National Accord Medicines's Enterprise Value for the quarter that ended in Mar. 2024 was ¥21,499 Mil. China National Accord Medicines's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 was ¥2,689 Mil. China National Accord Medicines's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2024 was 12.52%.

The historical rank and industry rank for China National Accord Medicines's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

SZSE:000028' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.07   Med: 9.65   Max: 16.74
Current: 13.05

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of China National Accord Medicines was 16.74%. The lowest was 3.07%. And the median was 9.65%.

SZSE:000028's Earnings Yield (Joel Greenblatt) % is ranked better than
77% of 100 companies
in the Medical Distribution industry
Industry Median: 5.965 vs SZSE:000028: 13.05

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) %. China National Accord Medicines's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2024 was 15.42%. 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.


China National Accord Medicines Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for China National Accord Medicines'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.

China National Accord Medicines Earnings Yield (Joel Greenblatt) % Chart

China National Accord Medicines Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 12.89 11.93 12.55 17.27 14.88

China National Accord Medicines Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 12.53 9.85 12.36 14.88 12.52

Competitive Comparison of China National Accord Medicines's Earnings Yield (Joel Greenblatt) %

For the Medical Distribution subindustry, China National Accord Medicines'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.


China National Accord Medicines's Earnings Yield (Joel Greenblatt) % Distribution in the Medical Distribution Industry

For the Medical Distribution industry and Healthcare sector, China National Accord Medicines's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where China National Accord Medicines's Earnings Yield (Joel Greenblatt) % falls into.



China National Accord Medicines 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.

China National Accord Mediciness Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=2721.608/18279.29635
=14.89 %

China National Accord Medicines's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was ¥2,689 Mil.



China National Accord Medicines  (SZSE:000028) 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.


China National Accord Medicines Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of China National Accord Medicines's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


China National Accord Medicines (SZSE:000028) Business Description

Traded in Other Exchanges
Address
No. 15, Ba Gua Si 4th Road, Accord Pharmaceutical Building, Futian District, Guangdong Province, Shenzhen, CHN, 518029
China National Accord Medicines Corp Ltd develops and manufactures pharmaceuticals in China. The company engaged in the wholesale of Chinese patent drugs, traditional Chinese medicines, chemical medicine preparations, antibiotics, biochemical drugs and cerebrovascular system drugs. It operates through the following segments: The Head office segment engages in investing and managing the business; The Pharmaceutical Distribution segment engages in the distribution of medicine and pharmaceutical products to customers, including hospitals, other distributors, retail drug stores, and clinics, and Retail pharmacy segment, which is managing the operation of Guoda Pharmacy. It generates maximum revenue from the Pharmaceutical Distribution segment.

China National Accord Medicines (SZSE:000028) Headlines

No Headlines