What is LMI Aerospace Earnings Yield (Joel Greenblatt) %?
LMI Aerospace's Enterprise Value for the quarter that ended in Mar. 2017 was $451.3 Mil.
LMI Aerospace's EBIT for the trailing twelve months (TTM) ended in Mar. 2017 was $-19.3 Mil. LMI Aerospace's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2017 was -4.28%.
The historical rank and industry rank for LMI Aerospace's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
LMIA's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Aerospace & Defense industry.
Industry Median: 2.635 * 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) %. LMI Aerospace's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2017 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.
LMI Aerospace Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for LMI Aerospace'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.
Competitive Comparison of LMI Aerospace's Earnings Yield (Joel Greenblatt) %
For the Aerospace & Defense subindustry, LMI Aerospace'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.
LMI Aerospace's Earnings Yield (Joel Greenblatt) % Distribution in the Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, LMI Aerospace's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where LMI Aerospace's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
LMI Aerospaces Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2016 is calculated as
LMI Aerospace's EBIT for the trailing twelve months (TTM) ended in Mar. 2017 adds up the quarterly data reported by the company within the most recent 12 months, which was $-19.3 Mil.
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.
LMI Aerospace Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of LMI Aerospace's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
LMI Aerospace (LMI Aerospace) Business Description
LMI Aerospace Inc was founded in 1948. The Company is a supplier of structural assemblies, kits and components, and design engineering services to the aerospace and defense markets. The Company provides a array of manufacturing capabilities, as well as engineering and value-added services to the large commercial, corporate and regional, and military aircraft markets. It also provide prototyping, testing and design capabilities to customers in support of new product development and in-service aircraft. LMI Aerospace is a preferred supplier to aircraft original equipment manufacturers (OEMs) and Tier 1 aerospace suppliers. In addition to aerospace products, the Company produces components and assemblies for laser equipment used by semiconductor equipment manufacturers, electronic and electrical wire harnesses, cable assemblies, and mechanical sub-assemblies for the air and rail traffic control, medical equipment, telecommunications, and heavy equipment industries. The Company operates in two business segments consisting of: Aerostructures segment and Engineering Services segment. Its Aerostructures segment fabricates, machines, finishes, integrates, assembles and kits machined and formed close tolerance aluminum, specialty alloy and composite components and higher level assemblies for use by the aerospace and defense industries. The Company also offers its customers value-added services related to the design, production, assembly and distribution of aerospace components and deliver kits of products directly to customer points of use. Its Engineering Services segment provides a complete range of design, engineering and program management services, supporting aircraft product lifecycles from conceptual design, analysis and certification through production support, fleet support, and service life extensions via a complete turnkey engineering solution to OEMs and Tier 1 aerospace suppliers. Its competitors in the aerospace industry consist of a large, fragmented group of companies, including certain business units or affiliates of its customers. The Companys operations are subject to extensive and frequently changing federal, state and local laws and substantial regulation by government agencies.
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