What is Heiwa Real Estate REIT Earnings Yield (Joel Greenblatt) %?
Heiwa Real Estate REIT's Enterprise Value for the quarter that ended in Nov. 2023 was 円255,365 Mil.
Heiwa Real Estate REIT's EBIT for the trailing twelve months (TTM) ended in Nov. 2023 was 円8,354 Mil. Heiwa Real Estate REIT's Earnings Yield (Joel Greenblatt) for the quarter that ended in Nov. 2023 was 3.27%.
The historical rank and industry rank for Heiwa Real Estate REIT's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
TSE:8966'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.33 Med: 2.88 Max: 4.84
Current: 3.17
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Heiwa Real Estate REIT was 4.84%. The lowest was 2.33%. And the median was 2.88%.
TSE:8966's Earnings Yield (Joel Greenblatt) % is ranked better than 54.63% of 897
companies
in the REITs industry
Industry Median: 2.76
vs TSE:8966: 3.17
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) %. Heiwa Real Estate REIT's Forward Rate of Return (Yacktman) % for the quarter that ended in Nov. 2023 was -2.72%. 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.
Heiwa Real Estate REIT Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Heiwa Real Estate REIT'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.
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Heiwa Real Estate REIT Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Heiwa Real Estate REIT's Earnings Yield (Joel Greenblatt) %
For the REIT - Diversified subindustry, Heiwa Real Estate REIT'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.
Heiwa Real Estate REIT's Earnings Yield (Joel Greenblatt) % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Heiwa Real Estate REIT's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Heiwa Real Estate REIT's Earnings Yield (Joel Greenblatt) % falls into.
Heiwa Real Estate REIT 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.
Heiwa Real Estate REITs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Nov. 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.
Heiwa Real Estate REIT Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Heiwa Real Estate REIT's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Heiwa Real Estate REIT (TSE:8966) Business Description
Heiwa Real Estate REIT Inc is a real estate company that primarily invests in office buildings and residential buildings located in the Tokyo Metropolitan Area and other major cities across Japan. The company leases its buildings for rental revenue and renovates its properties. The tenants include both individuals and businesses from various industries such as wholesale and retail, manufacturing, and information and technology services. The company's assets are managed by Heiwa Real Estate Asset Management Co.
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