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Photronics Earnings Yield (Joel Greenblatt) %

: 18.76% (As of Apr. 2022)
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Photronics's Enterprise Value for the quarter that ended in Apr. 2022 was $878.0 Mil. Photronics's EBIT for the trailing twelve months (TTM) ended in Apr. 2022 was $164.8 Mil. Photronics's Earnings Yield (Joel Greenblatt) for the quarter that ended in Apr. 2022 was 18.76%.

The historical rank and industry rank for Photronics's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

PLAB' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.74   Med: 9.07   Max: 19.25
Current: 13.3

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Photronics was 19.25%. The lowest was 4.74%. And the median was 9.07%.

PLAB's Earnings Yield (Joel Greenblatt) % is ranked better than
77.66% of 913 companies
in the Semiconductors industry
Industry Median: 4.48 vs PLAB: 13.30

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) %. Photronics's Forward Rate of Return (Yacktman) % for the quarter that ended in Apr. 2022 was 17.36%. 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.


Photronics Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Photronics'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.

Photronics Annual Data
Trend Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.89 13.44 6.84 11.33 13.05

Photronics Quarterly Data
Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22
Earnings Yield (Joel Greenblatt) % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.06 9.73 13.05 12.77 18.76

Competitive Comparison

For the Semiconductor Equipment & Materials subindustry, Photronics'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.

   

Photronics Earnings Yield (Joel Greenblatt) % Distribution

For the Semiconductors industry and Technology sector, Photronics's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Photronics's Earnings Yield (Joel Greenblatt) % falls into.



Photronics 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.

Photronicss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Oct. 2021 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=103.691/793.87876
=13.06 %

Photronics's EBIT for the trailing twelve months (TTM) ended in Apr. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $164.8 Mil.



Photronics  (NAS:PLAB) 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.


Photronics Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Photronics's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Photronics Business Description

Photronics logo
Industry
Traded in Other Exchanges
Address
15 Secor Road, Brookfield, CT, USA, 06804
Photronics is a U.S.-based company that is principally engaged in manufacturing photomasks. The photomasks are photographic quartz plates that contain microscopic images of electronic circuits that are used as a component in the manufacture of integrated circuits and flat-panel displays. The revenue from products designed for integrated circuits production accounts for the majority of total revenue, with the rest derived from products for flat-panel display production. The company's assets are located in Taiwan, Korea, and the United States. It generates revenue worldwide, including the United States, Europe, Taiwan, Korea, China, and elsewhere in Asia, with Asia contributing the majority of total revenue.
Executives
Lewis Adam M director 15 SECOR ROAD BROOKFIELD CT 06804
Liao Daniel Jl director 2045 EAST INNOVATION CIRCLE TEMPE AZ 85284
Paladino Mary director 15 SECOR ROAD BROOKFIELD CT 06804
Lee Kang Jyh officer: President, Asia IC Photomask 15 SECOR ROAD BROOKFIELD CT 06804
Jordan John P officer: SVP & Chief Financial Officer 600 EAST GREENWICH AVENUE WEST WARWICK RI 02893
Hsia Liang Choo director 15 SECOR RD. BROOKFIELD CT 06804
Gmt Capital Corp 10 percent owner GMT CAPITAL CORP 2300 WINDY RIDGE PARKWAY SUITE 550 SOUTH ATLANTA GA 30339
Burr Richelle E officer: VP, General Counsel & Secy 15 SECOR RD BROOKFIELD CT 06804
Kirlin Peter S officer: Senior VP, U.S. & Europe 15 SECOR ROAD BROOKFIELD CT 06804
Progler Christopher J officer: VP,Chief Technology Officer 15 SECOR ROAD BROOKFIELD CT 06804
Jeong Soo Hong officer: COO, President-Asia Operations 15 SECOR ROAD BROOKFIELD CT 06804
Luttati Michael J director, officer: Chief Executive Officer 15 SECOR ROAD BROOKFIELD CT 06804
Maris Willem D director 15 SECOR ROAD BROOKFIELD CT 06804
Tyson Mitchell G director 15 SECOR ROAD BROOKFIELD CT 06804
Yomazzo Michael J director 15 SECOR ROAD PO BOX 5226 BROOKFIELD CT 06804

Photronics Headlines

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