SZSE:000999's Earnings Yield (Joel Greenblatt) % is ranked better than 78.83% of 1091
companies
in the Drug Manufacturers industry
Industry Median: 2.51
vs SZSE:000999: 7.63
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) %. China Resourcesnjiu Medical & Pharmaceutical Co's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2024 was 15.17%. 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.
China Resourcesnjiu Medical & Pharmaceutical Co Earnings Yield (Joel Greenblatt) % Historical Data
* 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.
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China Resourcesnjiu Medical & Pharmaceutical Co Earnings Yield (Joel Greenblatt) % Chart
China Resourcesnjiu Medical & Pharmaceutical Co Annual Data
Competitive Comparison of China Resourcesnjiu Medical & Pharmaceutical Co's Earnings Yield (Joel Greenblatt) %
For the Drug Manufacturers - Specialty & Generic subindustry, China Resourcesnjiu Medical & Pharmaceutical Co'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.
China Resourcesnjiu Medical & Pharmaceutical Co's Earnings Yield (Joel Greenblatt) % Distribution in the Drug Manufacturers Industry
* The bar in red indicates where China Resourcesnjiu Medical & Pharmaceutical Co's Earnings Yield (Joel Greenblatt) % falls into.
China Resourcesnjiu Medical & Pharmaceutical Co 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.
China Resourcesnjiu Medical & Pharmaceutical Co's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was ¥4,140 Mil.
China Resourcesnjiu Medical & Pharmaceutical Co (SZSE:000999) 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.
China Resourcesnjiu Medical & Pharmaceutical Co Earnings Yield (Joel Greenblatt) % Related Terms
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China Resourcesnjiu Medical & Pharmaceutical Co (SZSE:000999) Business Description
China Resources Sanjiu Medical & Pharmaceutical Co Ltd is a China-based pharmaceutical company. It is engaged in the research and development, production and sale of pharmaceutical products, healthcare products, and medical appliances under the brand name 999, which includes OTC, antibiotic and raw material drug. The other brands under which the company offers its products are Lee King, Shunfeng, and Tianhe. The company's core business is located in OTC and Chinese medicine prescription drugs, OTC core products in the cold, gastrointestinal, skin, pediatric, cough and orthopedic drugs occupy a higher market share; prescription drug products in traditional Chinese medicine formula granules, cardiovascular and cerebrovascular, anti-tumor in the field of anti-infection and other areas.
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