APA's Enterprise Value for the quarter that ended in Dec. 2020 was $14,984 Mil.
APA's EBIT for the trailing twelve months (TTM) ended in Dec. 2020 was $-4,414 Mil. APA's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2020 was -29.50%.
NAS:APA'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -85.2 Med: 5.6 Max: 19.3
Current: -25.77
-85.2
-
19.3
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of APA was 19.30%. The lowest was -85.20%. And the median was 5.60%.
NAS:APA's Earnings Yield (Joel Greenblatt) % is ranked lower than
77% of the 1200
Companies
in the Oil & Gas industry.
( Industry Median: -3.59
vs. NAS:APA: -25.77
)
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) %. APA's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2020 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.
APA Earnings Yield (Joel Greenblatt) % Historical Data
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
* Premium members only.
APA Annual Data
Dec11
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Earnings Yield (Joel Greenblatt) %
-3.87
5.46
7.11
-13.53
-29.50
APA Quarterly Data
Mar16
Jun16
Sep16
Dec16
Mar17
Jun17
Sep17
Dec17
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Earnings Yield (Joel Greenblatt) %
-13.53
-65.79
-51.02
-55.87
-29.50
Competitive Comparison
* 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.
APA Earnings Yield (Joel Greenblatt) % Distribution
* The bar in red indicates where APA's Earnings Yield (Joel Greenblatt) % falls into.
APA 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.
APAs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2020 is calculated as
APA's EBIT for the trailing twelve months (TTM) ended in Dec. 2020 was -4463 (Mar. 2020 ) + -311 (Jun. 2020 ) + 182 (Sep. 2020 ) + 178 (Dec. 2020 ) = $-4,414 Mil.
APA (NAS:APA) 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.
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