What is Tongcheng Travel Holdings Earnings Yield (Joel Greenblatt) %?
Tongcheng Travel Holdings's Enterprise Value for the quarter that ended in Dec. 2023 was HK$26,492 Mil.
Tongcheng Travel Holdings's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was HK$2,196 Mil. Tongcheng Travel Holdings's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 8.24%.
The historical rank and industry rank for Tongcheng Travel Holdings's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
HKSE:00780'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 0.04 Med: 2.96 Max: 7.93
Current: 5.22
During the past 9 years, the highest Earnings Yield (Joel Greenblatt) of Tongcheng Travel Holdings was 7.93%. The lowest was 0.04%. And the median was 2.96%.
HKSE:00780's Earnings Yield (Joel Greenblatt) % is ranked better than 57.44% of 853
companies
in the Travel & Leisure industry
Industry Median: 4.23
vs HKSE:00780: 5.22
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) %. Tongcheng Travel Holdings's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 4.37%. 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.
Tongcheng Travel Holdings Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Tongcheng Travel Holdings'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.
For the Travel Services subindustry, Tongcheng Travel Holdings'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.
Tongcheng Travel Holdings's Earnings Yield (Joel Greenblatt) % Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Tongcheng Travel Holdings's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tongcheng Travel Holdings'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.
Tongcheng Travel Holdingss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Tongcheng Travel Holdings'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 HK$2,196 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.
Tongcheng Travel Holdings Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Tongcheng Travel Holdings's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Tongcheng Travel Holdings (HKSE:00780) Business Description
Tongcheng Travel is an online travel agency platform that provides booking services for hotel and ticketing in China. It generated 88% of its revenue from accommodation reservations and transportation ticketing in the third quarter of 2022. The rest came from advertising and in-house software sales. The platform provides both online and offline services in the form of call centers. Tongcheng Travel was formed from the merger of Tongcheng Network and eLong in 2018. It is currently 21.38% owned by Tencent and 20.86% by Trip.com. Tongcheng targets lower-tier cities and as of 2021, 86.7% of its users are from non-first-tier cities in China and 61.7% of new paying users on Weixin were from Tier 3 or below cities in China. The company competes with Trip.com, Alibaba's Fliggy, and Meituan.
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