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Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario (BSP:ALZR11) Earnings Yield (Joel Greenblatt) %

: 18.21% (As of Jun. 2023)
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Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario's Enterprise Value for the quarter that ended in Jun. 2023 was R$701.5 Mil. Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario's EBIT for the trailing twelve months (TTM) ended in Jun. 2023 was R$127.8 Mil. Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2023 was 18.21%.

The historical rank and industry rank for Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

BSP:ALZR11' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.75   Med: 7.58   Max: 18.8
Current: 17.71

During the past 6 years, the highest Earnings Yield (Joel Greenblatt) of Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario was 18.80%. The lowest was 2.75%. And the median was 7.58%.

BSP:ALZR11's Earnings Yield (Joel Greenblatt) % is ranked better than
88.41% of 1855 companies
in the Real Estate industry
Industry Median: 4.25 vs BSP:ALZR11: 17.71

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) %. Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2023 was 23.66%. 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.


Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario'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.

Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario Annual Data
Trend Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Earnings Yield (Joel Greenblatt) %
Premium Member Only 6.27 8.73 7.27 7.48 18.21

Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario Semi-Annual Data
Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Earnings Yield (Joel Greenblatt) % Premium Member Only 6.27 8.73 7.27 7.48 18.21

Competitive Comparison

For the Real Estate Services subindustry, Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario'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.


Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario Earnings Yield (Joel Greenblatt) % Distribution

For the Real Estate industry and Real Estate sector, Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario's Earnings Yield (Joel Greenblatt) % falls into.



Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario 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.

Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliarios Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Jun. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=127.834/701.4778976
=18.22 %

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.



Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario  (BSP:ALZR11) 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.


Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario Earnings Yield (Joel Greenblatt) % Related Terms

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Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliario (BSP:ALZR11) Business Description

Comparable Companies
Traded in Other Exchanges
N/A
Address
Rua Tabapua No. 1.227-Conj. 202, Itaim Bibi, Sau Paulo, SP, BRA, 04534-003
Alianza Trust Renda Imobiliaria Fundo Investimento Imobiliariois a real estate investment company in Brazil. The company focuses on structured projects, such as Built-To-Suit and Sale and Leaseback. It offers property development for leases in the logistics, residential and office segments. The company is also engaged in an asset management business of premium real estate investments, such as FIIs, private equity real estate vehicles, CMBS and RMBS.

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