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Taylor Devices Earnings Yield (Joel Greenblatt) %

: 17.64% (As of Aug. 2020)
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Taylor Devices's Enterprise Value for the quarter that ended in Aug. 2020 was $17.57 Mil. Taylor Devices's EBIT for the trailing twelve months (TTM) ended in Aug. 2020 was $3.10 Mil. Taylor Devices's Earnings Yield (Joel Greenblatt) for the quarter that ended in Aug. 2020 was 17.64%.

NAS:TAYD' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.2   Med: 8.8   Max: 36.7
Current: 14.92

2.2
36.7

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Taylor Devices was 36.70%. The lowest was 2.20%. And the median was 8.80%.

NAS:TAYD's Earnings Yield (Joel Greenblatt) % is ranked higher than
89% of the 2520 Companies
in the Industrial Products industry.

( Industry Median: 3.74 vs. NAS:TAYD: 14.92 )

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) %. Taylor Devices's Forward Rate of Return (Yacktman) % for the quarter that ended in Aug. 2020 was -3.18%. 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.


Taylor Devices 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.

Taylor Devices Annual Data
May11 May12 May13 May14 May15 May16 May17 May18 May19 May20
Earnings Yield (Joel Greenblatt) % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 11.53 7.08 2.05 9.26 14.01

Taylor Devices Quarterly Data
Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20
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 8.25 13.12 14.93 14.01 17.64

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.


Taylor Devices Earnings Yield (Joel Greenblatt) % Distribution

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



Taylor Devices 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.

Taylor Devicess Earnings Yield (Joel Greenblatt) for the fiscal year that ended in May. 2020 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=3.303/23.5843307
=14.01 %

Taylor Devices's Earnings Yield (Joel Greenblatt) for the quarter that ended in Aug. 2020 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT (TTM)/Enterprise Value
=3.101/17.57
=17.65 %

Taylor Devices's EBIT for the trailing twelve months (TTM) ended in Aug. 2020 was 1.115 (Nov. 2019 ) + 0.935 (Feb. 2020 ) + 0.86 (May. 2020 ) + 0.191 (Aug. 2020 ) = $3.10 Mil.



Taylor Devices  (NAS:TAYD) 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.


Taylor Devices Earnings Yield (Joel Greenblatt) % Related Terms


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