What is Impro Precision Industries Earnings Yield (Joel Greenblatt) %?
Impro Precision Industries's Enterprise Value for the quarter that ended in Dec. 2023 was HK$6,177 Mil.
Impro Precision Industries's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was HK$736 Mil. Impro Precision Industries's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 11.92%.
The historical rank and industry rank for Impro Precision Industries's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
HKSE:01286'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -0.44 Med: 10.46 Max: 17.21
Current: 13.07
During the past 8 years, the highest Earnings Yield (Joel Greenblatt) of Impro Precision Industries was 17.21%. The lowest was -0.44%. And the median was 10.46%.
HKSE:01286's Earnings Yield (Joel Greenblatt) % is ranked better than 86.23% of 3036
companies
in the Industrial Products industry
Industry Median: 4.28
vs HKSE:01286: 13.07
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) %. Impro Precision Industries's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 11.96%. 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.
Impro Precision Industries Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Impro Precision Industries'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 Specialty Industrial Machinery subindustry, Impro Precision Industries'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.
Impro Precision Industries's Earnings Yield (Joel Greenblatt) % Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Impro Precision Industries's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Impro Precision Industries'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.
Impro Precision Industriess Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
For company reported semi-annually or annually, GuruFocus only calculate annual data for Earnings Yield (Joel Greenblatt) and apply the annual figure to corresponding quarter.
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.
Impro Precision Industries Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Impro Precision Industries's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Impro Precision Industries (HKSE:01286) Business Description
Impro Precision Industries Ltd is an investment holding company. It operates in four segments: Investment casting, Precision machining and others, Sand casting, and Surface Treatment. The products and services offered are widely applied to various end-markets, including passenger cars, commercial vehicles, high horsepower engines, hydraulic equipment, construction equipment, agricultural equipment, recreational boats and vehicles, aerospace, and medical. Its geographical segments are the Americas, Europe, and Asia, of which key revenue is generated from the Americas.
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