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Aerovate Therapeutics's Enterprise Value for the quarter that ended in Dec. 2023 was $506.51 Mil. Aerovate Therapeutics's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $-81.41 Mil. Aerovate Therapeutics's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was -16.08%.
The historical rank and industry rank for Aerovate Therapeutics's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
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) %. Aerovate Therapeutics's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 0.00%. 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 Aerovate Therapeutics'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.
Aerovate Therapeutics Annual Data | |||||||||||
Trend | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | ||||||
Earnings Yield (Joel Greenblatt) % | - | - | -19.01 | -8.93 | -16.08 |
Aerovate Therapeutics Quarterly Data | |||||||||||||||||
Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Earnings Yield (Joel Greenblatt) % | Get a 7-Day Free Trial | -8.93 | -15.65 | -20.96 | -31.25 | -16.08 |
For the Biotechnology subindustry, Aerovate Therapeutics'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.
For the Biotechnology industry and Healthcare sector, Aerovate Therapeutics's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Aerovate Therapeutics'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.
Aerovate Therapeuticss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Earnings Yield (Joel Greenblatt) | = | EBIT | / | Enterprise Value |
= | -81.409 | / | 506.505901 | |
= | -16.07 % |
Aerovate Therapeutics'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 $-81.41 Mil.
Aerovate Therapeutics (NAS:AVTE) 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.
Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.
Thank you for viewing the detailed overview of Aerovate Therapeutics's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Hunter Gillies | officer: Chief Medical Officer | C/O AEROVATE THERAPEUTICS, INC., 200 BERKELEY STREET, FLOOR 18, BOSTON MA 02116 |
Ralph Niven | officer: Chief Development Officer | C/O AEROVATE THERAPEUTICS, INC., 200 BERKELEY STREET, FLOOR 18, BOSTON MA 02116 |
Benjamin T Dake | officer: See Remarks | C/O AEROVATE THERAPEUTICS, INC., 200 BERKELEY STREET, FLOOR 18, BOSTON MA 02116 |
Marinus Verwijs | officer: SENIOR VICE PRESIDENT, CMC | C/O AEROVATE THERAPEUTICS, INC., 200 BERKELEY STREET, FLOOR 18, BOSTON MA 02116 |
Timothy P Noyes | director, officer: Chief Executive Officer | 1365 MAIN STREET, WALTHAM MA 02451 |
Habib J Dable | director | C/O ACCELERON PHARMA INC., 128 SIDNEY STREET, CAMBRIDGE MA 02139 |
Timothy Pigot | officer: Chief Commercial Officer | AEROVATE THERAPEUTICS, INC., 930 WINTER STREET, SUITE M-500, WALTHAM MA 02451 |
Donald J Santel | director | 4362 24TH STREET, SAN FRANCISCO CA 94114 |
George A Eldridge | officer: See Remarks | C/O TARGANTA THERAPEUTICS CORPORATION, 222 THIRD STREET SUITE 2300, CAMBRIDGE MA 02142 |
Allison Dorval | director | C/O INSULET CORPORATION, 600 TECHNOLOGY PARK DRIVE, SUITE 200, BILLERICA MA 01821 |
Cormorant Asset Management, Lp | 10 percent owner | 200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116 |
Maha Katabi | director, 10 percent owner | SOFINNOVA INVESTMENTS, 3000 SAND HILL ROAD, 4-250, MENLO PARK CA 94025 |
Ra Capital Healthcare Fund Lp | director, 10 percent owner | 200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116 |
Ra Capital Management, L.p. | director, 10 percent owner | 200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116 |
Peter Kolchinsky | director, 10 percent owner | 200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116 |
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