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Western Midstream Partners LP Earnings Yield (Joel Greenblatt) %

: 8.31% (As of Jun. 2021)
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Western Midstream Partners LP's Enterprise Value for the quarter that ended in Jun. 2021 was $16,106 Mil. Western Midstream Partners LP's EBIT for the trailing twelve months (TTM) ended in Jun. 2021 was $1,339 Mil. Western Midstream Partners LP's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2021 was 8.31%.

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

NYSE:WES' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.24   Med: 4.7   Max: 9.18
Current: 8.16

1.24
9.18

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Western Midstream Partners LP was 9.18%. The lowest was 1.24%. And the median was 4.70%.

NYSE:WES's Earnings Yield (Joel Greenblatt) % is ranked lower than
87% of the 408 Companies
in the Oil & Gas industry.

( Industry Median: 4.40 vs. NYSE:WES: 8.16 )

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) %. Western Midstream Partners LP's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2021 was -0.59%. 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.


Western Midstream Partners LP Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Western Midstream Partners LP'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.

Western Midstream Partners LP Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.73 5.63 6.27 6.64 6.71

Western Midstream Partners LP Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
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 5.94 7.96 6.71 9.12 8.31

Competitive Comparison

For the Oil & Gas Midstream subindustry, Western Midstream Partners LP'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.

   

Western Midstream Partners LP Earnings Yield (Joel Greenblatt) % Distribution

For the Oil & Gas industry and Energy sector, Western Midstream Partners LP's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Western Midstream Partners LP's Earnings Yield (Joel Greenblatt) % falls into.



Western Midstream Partners LP 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.

Western Midstream Partners LPs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2020 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=889.407/13263.1298
=6.71 %

Western Midstream Partners LP's EBIT for the trailing twelve months (TTM) ended in Jun. 2021 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,339 Mil.



Western Midstream Partners LP  (NYSE:WES) 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.


Western Midstream Partners LP Earnings Yield (Joel Greenblatt) % Related Terms

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


Western Midstream Partners LP Business Description

Western Midstream Partners LP logo
Industry
Energy » Oil & Gas NAICS : 213112 SIC : 1389
Traded in Other Exchanges
N/A
Address
9950 Woodloch Forest Drive, Suite 2800, The Woodlands, TX, USA, 77380
Western Midstream Partners LP is a US-based company which own, operate, acquire and develop midstream energy assets. The company through its subsidiary is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, NGLs and crude oil. It owns or has investments in assets located in the Rocky Mountains (Colorado, Utah, and Wyoming), the Mid-Continent (Kansas and Oklahoma), North-central Pennsylvania and Texas.
Executives
Stewart Lisa A director EL PASO CORPORATION 1001 LOUISIANA STREET HOUSTON TX 77002
Schulte David J director 233 WEST 47TH ST. KANSAS CITY MO 64112
Owen Kenneth F. director 15631 JACINTOPORT BLVD. HOUSTON TX 77015
Oxy Oil Partners, Inc. 10 percent owner 5 GREENWAY PLAZA, SUITE 110 HOUSTON TX 77046
Occidental Permian Manager Llc 10 percent owner 5 GREENWAY PLAZA, SUITE 110 HOUSTON TX 77046
Baseball Merger Sub 2, Inc. 10 percent owner 5 GREENWAY PLAZA, SUITE 110 HOUSTON TX 77046
Wgr Asset Holding Co Llc 10 percent owner 1201 LAKE ROBBINS DRIVE THE WOODLANDS TX 77380
Kerr-mcgee Worldwide Corp other: Former 10% Owner 1201 LAKE ROBBINS DRIVE THE WOODLANDS TX 77380
Apc Midstream Holdings, Llc 10 percent owner 1201 LAKE ROBBINS DRIVE THE WOODLANDS TX 77380
Anadarko E&p Onshore Llc other: Former 10% Owner 1201 LAKE ROBBINS DRIVE THE WOODLANDS TX 77380
Western Gas Resources Inc 10 percent owner 1099 18TH STREET, SUITE 1200 DENVER CO 80202-1955
Anadarko Petroleum Corp 10 percent owner 1201 LAKE ROBBINS DR. THE WOODLANDS TX 77380
Occidental Petroleum Corp /de/ 10 percent owner 5 GREENWAY PLAZA SUITE 110 HOUSTON TX 77046
Oxy Usa Inc 10 percent owner 5 GREENWAY PLAZA SUITE 110 HOUSTON TX 77046
Bourne Robert W. officer: SVP & Chief Commercial Officer 1400 16TH STREET SUITE 310 DENVER CO 80202

Western Midstream Partners LP Headlines

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