What is Asciano Earnings Yield (Joel Greenblatt) %?
Asciano's Enterprise Value for the quarter that ended in Jun. 2016 was $9,064 Mil.
Asciano's EBIT for the trailing twelve months (TTM) ended in Jun. 2016 was $414 Mil. Asciano's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2016 was 4.67%.
The historical rank and industry rank for Asciano's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
AANOF's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Transportation industry.
Industry Median: 6.885 * 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) %. Asciano's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2016 was 4.67%. 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.
Asciano Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Asciano'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.
Competitive Comparison of Asciano's Earnings Yield (Joel Greenblatt) %
For the Railroads subindustry, Asciano'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.
Asciano's Earnings Yield (Joel Greenblatt) % Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Asciano's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Asciano's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Ascianos Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Jun. 2016 is calculated as
For company reported semi-annually or annually, GuruFocus only calculate annual data for Earnings Yield (Joel Greenblatt) and apply the annual figure to corresponding quarter.
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.
Asciano Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Asciano's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Asciano Ltd is incorporated in Australia. The Company is engaged in development, operation and maintenance of toll roads. It operates in various divisions namely Pacific National Coal, Pacific National Rail, Terminals & Logistics, and Bulk & Automotive Port Services. The Pacific National Coal provides thermal coal haulage for use in power generation; and coking coal haulage for steelmaking. The Pacific National Rail segment offers intermodal rail and bulk haulage rail services, such as interstate rail freight services to the retail, manufacturing, mining, grain, construction materials, and steel making sectors. The Terminals & Logistics segment provides container services, which include lifting containers on and off ships, as well as facilitating the movement of containers on and off road and or rail. The Bulk & Automotive Port Services segment provides automotive stevedoring, vehicle processing, transport and storage, bulk and general stevedoring, port related, and infrastructure management services for bulk and general cargo. The Company is subject to environmental regulations under Australian Commonwealth and State laws and certain applicable laws in the USA.
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