What is Mainland Headwear Holdings Earnings Yield (Joel Greenblatt) %?
Mainland Headwear Holdings's Enterprise Value for the quarter that ended in Dec. 2023 was HK$785 Mil.
Mainland Headwear Holdings's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was HK$192 Mil. Mainland Headwear Holdings's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 24.51%.
The historical rank and industry rank for Mainland Headwear Holdings's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
HKSE:01100'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.38 Med: 16.48 Max: 32.6
Current: 27.32
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Mainland Headwear Holdings was 32.60%. The lowest was 3.38%. And the median was 16.48%.
HKSE:01100's Earnings Yield (Joel Greenblatt) % is ranked better than 93.66% of 1088
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 4.495
vs HKSE:01100: 27.32
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) %. Mainland Headwear Holdings's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 27.69%. 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.
Mainland Headwear Holdings Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Mainland Headwear 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 Footwear & Accessories subindustry, Mainland Headwear 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.
Mainland Headwear Holdings's Earnings Yield (Joel Greenblatt) % Distribution in the Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Mainland Headwear Holdings's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Mainland Headwear 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.
Mainland Headwear Holdingss 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.
Mainland Headwear Holdings Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Mainland Headwear Holdings's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Mainland Headwear Holdings (HKSE:01100) Business Description
Mainland Headwear Holdings Ltd is an investment holding company. The group is mainly engaged in the design, manufacture, and retail of quality casual headwear. The firm operates in two segments including Manufacturing and Trading. In the Manufacturing segment, it manufactures headwear products for sale to its Trading and Retail Business as well as to external customers. The trading segment includes trading and distribution of headwear, apparel, small leather goods, bags and accessories. The firm sells its products in overseas countries with the US as the main market, followed by the European market. The key revenue is derived from the Manufacturing segment.
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