What is Meridian Bioscience Earnings Yield (Joel Greenblatt) %?
Meridian Bioscience's Enterprise Value for the quarter that ended in Sep. 2022 was $842.9 Mil.
Meridian Bioscience's EBIT for the trailing twelve months (TTM) ended in Sep. 2022 was $55.5 Mil. Meridian Bioscience's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2022 was 4.18%.
The historical rank and industry rank for Meridian Bioscience's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
LTS:0K0K's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Medical Diagnostics & Research industry.
Industry Median: -2.42 * 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) %. Meridian Bioscience's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2022 was 23.30%. 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.
Meridian Bioscience Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Meridian Bioscience'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.
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Meridian Bioscience Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Meridian Bioscience's Earnings Yield (Joel Greenblatt) %
For the Diagnostics & Research subindustry, Meridian Bioscience'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.
Meridian Bioscience's Earnings Yield (Joel Greenblatt) % Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Meridian Bioscience's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Meridian Bioscience's Earnings Yield (Joel Greenblatt) % falls into.
Meridian Bioscience 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.
Meridian Biosciences Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Sep. 2022 is calculated as
Meridian Bioscience's EBIT for the trailing twelve months (TTM) ended in Sep. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $55.5 Mil.
Meridian Bioscience (LTS:0K0K) 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.
Meridian Bioscience Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Meridian Bioscience's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Meridian Bioscience (LTS:0K0K) Business Description
Meridian Bioscience Inc is an integrated life science company. It develops and distributes diagnostic tests and reagents, as well as biologic substances used by pharmaceutical and biotechnology companies. Its Diagnostics segment manufactures tests primarily for gastrointestinal, viral, respiratory, & parasitic infectious diseases. Its testing platforms include isothermal DNA amplification, rapid immunoassays, and enzyme-linked immunoassays. The Life sciences segment sells b-antigens, antibodies, and reagents in bulk to other diagnostic manufacturers, the agriculture industry, and researchers. It also manufactures proteins that biopharmaceutical companies use in new drugs and vaccines. The entity has a business presence in the US and other countries.
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