What is Span-America Medical Systems Earnings Yield (Joel Greenblatt) %?
Span-America Medical Systems's Enterprise Value for the quarter that ended in Mar. 2017 was $52.52 Mil.
Span-America Medical Systems's EBIT for the trailing twelve months (TTM) ended in Mar. 2017 was $6.87 Mil. Span-America Medical Systems's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2017 was 13.05%.
The historical rank and industry rank for Span-America Medical Systems's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
SPAN's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Medical Devices & Instruments industry.
Industry Median: 0.19 * Ranked among companies with meaningful Earnings Yield (Joel Greenblatt) % only.
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) %. Span-America Medical Systems's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2017 was 3.56%. 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.
Span-America Medical Systems Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Span-America Medical Systems'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.
Span-America Medical Systems Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Span-America Medical Systems's Earnings Yield (Joel Greenblatt) %
For the Medical Devices subindustry, Span-America Medical Systems'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.
Span-America Medical Systems's Earnings Yield (Joel Greenblatt) % Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Span-America Medical Systems's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Span-America Medical Systems's Earnings Yield (Joel Greenblatt) % falls into.
Span-America Medical Systems 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.
Span-America Medical Systemss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Sep. 2016 is calculated as
Span-America Medical Systems's EBIT for the trailing twelve months (TTM) ended in Mar. 2017 adds up the quarterly data reported by the company within the most recent 12 months, which was $6.87 Mil.
Span-America Medical Systems (NAS:SPAN) 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.
Span-America Medical Systems Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Span-America Medical Systems's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Span-America Medical Systems (Span-America Medical Systems) Business Description
Span-America Medical Systems Inc was incorporated under the laws of the state of South Carolina on September 21, 1970. The Company manufactures and distributes therapeutic support surfaces, mattress overlays, patient positioners, seating cushions, skin care products and fall prevention products for the medical market and pillows, mattress pads and various foam products for the custom products market throughout the United States and Canada. Its operations are divided into two main business units or segments: medical and custom products. The Company's main medical products consist of polyurethane foam mattress overlays, therapeutic support surfaces (which consist of non-powered and powered therapeutic support surfaces) and patient positioners as well as Selan (r) skin care, seating and fall protection products. The Company's custom products segment includes two product lines namely consumer bedding products and various engineered industrial products. The Company's consumer product line consists mainly of convoluted and contour-cut mattress overlays and specially designed pillows for the consumer bedding market. It sells these products mainly in North America to customers in the segments of the health care market, including acute care hospitals, long-term care facilities and home health care providers. The Company's manufacturing operations are subject to various government regulations pertaining to the discharge of materials into the environment.
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