What is MarkWest Energy Partners LP Earnings Yield (Joel Greenblatt) %?
MarkWest Energy Partners LP's Enterprise Value for the quarter that ended in Sep. 2015 was €0 Mil.
MarkWest Energy Partners LP's EBIT for the trailing twelve months (TTM) ended in Sep. 2015 was €187 Mil. MarkWest Energy Partners LP's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2015 was 1.51%.
The historical rank and industry rank for MarkWest Energy Partners LP's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
FRA:MWT'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 0.2 Med: 3 Max: 21.2
Current: 1.39
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of MarkWest Energy Partners LP was 21.20%. The lowest was 0.20%. And the median was 3.00%.
FRA:MWT's Earnings Yield (Joel Greenblatt) % is not ranked
in the Oil & Gas industry.
Industry Median: 6.58
vs FRA:MWT: 1.39
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) %. MarkWest Energy Partners LP's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2015 was -20.72%. 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.
MarkWest Energy Partners LP Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for MarkWest Energy Partners LP'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.
* Premium members only.
MarkWest Energy Partners LP Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of MarkWest Energy Partners LP's Earnings Yield (Joel Greenblatt) %
For the Oil & Gas Midstream subindustry, MarkWest Energy 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.
MarkWest Energy Partners LP's Earnings Yield (Joel Greenblatt) % Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, MarkWest Energy Partners LP's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where MarkWest Energy Partners LP's Earnings Yield (Joel Greenblatt) % falls into.
MarkWest Energy 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.
MarkWest Energy Partners LPs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2014 is calculated as
MarkWest Energy Partners LP's EBIT for the trailing twelve months (TTM) ended in Sep. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was €187 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.
MarkWest Energy Partners LP Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of MarkWest Energy Partners LP's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
MarkWest Energy Partners LP (FRA:MWT) Business Description
MarkWest Energy Partners LP a Delaware corporation was formed in Delaware on January 24, 2002. The Company is engaged in the gathering, processing and transportation of natural gas; the gathering, transportation, fractionation, storage and marketing of NGLs; and the gathering and transportation of crude oil. The Company has presence in many unconventional gas plays including the Marcellus Shale, Utica Shale, Huron/Berea Shale, Haynesville Shale, Woodford Shale and Granite Wash formation. The Company conducts operations in the following operating segments: Marcellus, Utica, Northeast and Southwest. Its primary business is to provide top-tier midstream services by developing and operating high-quality, strategically located assets in the liquids-rich areas of six core natural gas producing resource plays in the United States. The Company provides services in the midstream sector of the natural gas industry. The midstream natural gas industry is the link between the exploration for and production of natural gas and the delivery of its hydrocarbon components to end-use markets. In the Marcellus segment, it provides fully integrated natural gas midstream services in southwestern Pennsylvania and northern West Virginia through its wholly owned subsidiary, MarkWest Liberty Midstream. The Company operates five processing complexes in its Marcellus segment that include the Houston Complex located in Washington County, Pennsylvania: the Majorsville Complex located in Marshall County, West Virginia; the Mobley Complex located in Wetzel County, West Virginia; the Sherwood Complex located in Doddridge County, West Virginia; and the Keystone Complex located in Butler County, Pennsylvania. In addition, it operates two gathering systems: one currently delivering over 475 MMcf/d of natural gas to its Houston and Majorsville Complexes and the other delivering over 74 MMcf/d of natural gas to its Keystone complex. MarkWest Utica EMG provides gathering, processing, fractionation and marketing services in the liquids-rich corridor of the Utica Shale in eastern Ohio. In each of its operating segments, the company faces competition for natural gas gathering, crude oil transportation and in obtaining natural gas supplies for its processing and related services; in obtaining unprocessed NGLs for gathering and fractionation; and in marketing its products and services. The Company's processing and fractionation plants, pipelines and associated facilities are subject to multiple obligations and potential liabilities under a variety of stringent and comprehensive federal, regional, state and local laws and regulations governing discharges of materials into the environment or otherwise relating to environmental protection.
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