Shell Midstream Partners LP's Enterprise Value for the quarter that ended in Jun. 2022 was $7,777.6 Mil.
Shell Midstream Partners LP's EBIT for the trailing twelve months (TTM) ended in Jun. 2022 was $632.0 Mil. Shell Midstream Partners LP's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2022 was 8.12%.
The historical rank and industry rank for Shell Midstream Partners LP's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
SHLX's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Oil & Gas industry.
Industry Median: 6.83 * 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) %. Shell Midstream Partners LP's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2022 was 1.13%. 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.
The historical data trend for Shell 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.
Shell Midstream Partners LP Annual Data
Trend
Dec12
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Earnings Yield (Joel Greenblatt) %
5.77
9.76
8.95
10.16
9.48
Shell Midstream Partners LP Quarterly Data
Sep17
Dec17
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Earnings Yield (Joel Greenblatt) %
8.42
9.76
9.48
8.16
8.12
Competitive Comparison
For the Oil & Gas Midstream subindustry, Shell 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.
Shell Midstream Partners LP Earnings Yield (Joel Greenblatt) % Distribution
For the Oil & Gas industry and Energy sector, Shell Midstream Partners LP's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Shell Midstream Partners LP's Earnings Yield (Joel Greenblatt) % falls in comparison to its industry or sector. The grey bar indicates the Earnings Yield (Joel Greenblatt) %'s extreme value range as defined by GuruFocus.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Shell Midstream Partners LPs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2021 is calculated as
Shell Midstream Partners LP's EBIT for the trailing twelve months (TTM) ended in Jun. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $632.0 Mil.
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.
Thank you for viewing the detailed overview of Shell Midstream Partners LP's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Shell Midstream Partners LP (NYSE:SHLX) Business Description
Shell Midstream Partners LP is a US-based limited partnership that is formed to own, operate, develop and acquire pipelines and other midstream assets. The company holds an interest in several entities which own crude oil, refined products and natural gas pipelines, and crude tank storage and terminal system. It provides a transportation and storage facility to deliver refined products from Gulf Coast markets to demand centers. The company earns revenue through the long-term transportation agreements by charging fees for the transportation of crude oil and refined products through its pipelines.
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