ESR Group's Enterprise Value for the quarter that ended in Dec. 2023 was $11,055.0 Mil.
ESR Group's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $707.1 Mil. ESR Group's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 6.32%.
The historical rank and industry rank for ESR Group's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
ESRCF'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.04 Med: 5.93 Max: 10.62
Current: 7.62
During the past 8 years, the highest Earnings Yield (Joel Greenblatt) of ESR Group was 10.62%. The lowest was 4.04%. And the median was 5.93%.
ESRCF's Earnings Yield (Joel Greenblatt) % is ranked better than 65.29% of 1858
companies
in the Real Estate industry
Industry Median: 4.32
vs ESRCF: 7.62
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) %. ESR Group's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 7.56%. 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.
ESR Group Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for ESR Group'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.
ESR Group Annual Data
Trend
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Earnings Yield (Joel Greenblatt) %
6.11
4.25
4.91
7.78
6.32
ESR Group Semi-Annual Data
Dec16
Dec17
Dec18
Jun19
Dec19
Jun20
Dec20
Jun21
Dec21
Jun22
Dec22
Jun23
Dec23
Earnings Yield (Joel Greenblatt) %
4.91
-
7.78
-
6.32
Competitive Comparison
For the Real Estate Services subindustry, ESR Group'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.
ESR Group Earnings Yield (Joel Greenblatt) % Distribution
For the Real Estate industry and Real Estate sector, ESR Group's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where ESR Group's Earnings Yield (Joel Greenblatt) % falls into.
ESR Group 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.
ESR Groups Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 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.
ESR Group (OTCPK:ESRCF) 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.
ESR Group Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of ESR Group's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
ESR Group, or ESR, is one of the largest real asset managers in the Asia-Pacific, with USD 145 billion in total assets under management as of Dec. 31, 2022. Most of its earnings are derived from fund management, where it manages underlying assets in investment vehicles such as a fund or REIT for fee income and a share of profits. It also develops and holds investment properties on its balance sheet for rental income and capital appreciation and will divest them into its managed funds and REITs over time to unlock and recycle the capital into other investment opportunities. In addition, to align its interest with its capital partners, ESR coinvests in the funds and REITs that it manages where it generates dividend income, pro rata earnings and value appreciation.
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