What is Westlake Chemical Partners LP Earnings Yield (Joel Greenblatt) %?
Westlake Chemical Partners LP's Enterprise Value for the quarter that ended in Dec. 2023 was $1,680 Mil.
Westlake Chemical Partners LP's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $362 Mil. Westlake Chemical Partners LP's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 21.55%.
The historical rank and industry rank for Westlake Chemical Partners LP's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
WLKP'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 16.96 Med: 21.03 Max: 81.66
Current: 32.47
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Westlake Chemical Partners LP was 81.66%. The lowest was 16.96%. And the median was 21.03%.
WLKP's Earnings Yield (Joel Greenblatt) % is ranked better than 96.89% of 1574
companies
in the Chemicals industry
Industry Median: 4.205
vs WLKP: 32.47
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) %. Westlake Chemical Partners LP's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 49.97%. 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.
Westlake Chemical Partners LP 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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Westlake Chemical Partners LP Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Westlake Chemical Partners LP's Earnings Yield (Joel Greenblatt) %
For the Chemicals subindustry, Westlake Chemical 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.
Westlake Chemical Partners LP's Earnings Yield (Joel Greenblatt) % Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Westlake Chemical Partners LP's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Westlake Chemical Partners LP's Earnings Yield (Joel Greenblatt) % falls into.
Westlake Chemical 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.
Westlake Chemical Partners LPs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Westlake Chemical Partners LP's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $362 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.
Westlake Chemical Partners LP Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Westlake Chemical Partners LP's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Westlake Chemical Partners LP (Westlake Chemical Partners LP) Business Description
Westlake Chemical Partners LP is a part of the chemical industry in the United States. Its operations are conducted through OpCo, it acquires and develop ethyelene production facilities, which convert ethane into ethylene. OpCo sells ethylene and its co-products such as propylene, crude butadiene, pyrolysis gasoline, and hydrogen to Westlake and other customers located in the United States. Its assets include three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana.
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