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NYSE Euronext, (XPAR:NYX) Earnings Yield (Joel Greenblatt) % : 5.66% (As of Sep. 2013)


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What is NYSE Euronext, Earnings Yield (Joel Greenblatt) %?

NYSE Euronext,'s Enterprise Value for the quarter that ended in Sep. 2013 was €8,683 Mil. NYSE Euronext,'s EBIT for the trailing twelve months (TTM) ended in Sep. 2013 was €520 Mil. NYSE Euronext,'s Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2013 was 5.66%.

The historical rank and industry rank for NYSE Euronext,'s Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

XPAR:NYX's Earnings Yield (Joel Greenblatt) % is not ranked *
in the Capital Markets industry.
Industry Median: 2.695
* 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) %. NYSE Euronext,'s Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2013 was 4.64%. 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.


NYSE Euronext, Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for NYSE Euronext,'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.

NYSE Euronext, Earnings Yield (Joel Greenblatt) % Chart

NYSE Euronext, Annual Data
Trend Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -7.02 3.20 7.50 10.09 6.22

NYSE Euronext, Quarterly Data
Dec08 Mar09 Jun09 Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.77 6.22 5.68 5.50 5.66

Competitive Comparison of NYSE Euronext,'s Earnings Yield (Joel Greenblatt) %

For the Financial Data & Stock Exchanges subindustry, NYSE Euronext,'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.


NYSE Euronext,'s Earnings Yield (Joel Greenblatt) % Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, NYSE Euronext,'s Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where NYSE Euronext,'s Earnings Yield (Joel Greenblatt) % falls into.



NYSE Euronext, 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.

NYSE Euronext,s Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2012 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=464.058/7363.886
=6.30 %

NYSE Euronext,'s EBIT for the trailing twelve months (TTM) ended in Sep. 2013 adds up the quarterly data reported by the company within the most recent 12 months, which was €520 Mil.



NYSE Euronext,  (XPAR:NYX) 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.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


NYSE Euronext, Earnings Yield (Joel Greenblatt) % Related Terms

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NYSE Euronext, (XPAR:NYX) Business Description

Traded in Other Exchanges
N/A
Address
NYSE Euronext, Inc., a Delaware corporation, was organized on May 22, 2006 in anticipation of the combination of the businesses of NYSE Group, Inc., a Delaware corporation, and Euronext N.V., a company organized under the laws of the Netherlands. The Company is a global operator of financial markets and provider of trading solutions. The Company offers an array of products and services in cash equities, futures, options, swaps, exchange-traded products, bonds, clearing operations, market data, commercial technology solutions and carbon trading, all designed to meet the evolving needs of investors, issuers, financial institutions and market participants. The Company consists of three business segments: Derivatives; Cash Trading and Listings; and Information Services and Technology Solutions. Derivatives segment is comprised of derivatives trading and clearing businesses and includes its subsidiaries NYSE Liffe, NYSE Liffe Clearing, NYSE Liffe US, NYSE Amex Options, NYSE Arca Options and joint venture NYPC as well as its related derivatives market data business. Cash Trading and Listings segment consists of cash trading and listings businesses and includes its subsidiaries the NYSE, Euronext, NYSE Amex, NYSE Arca, NYSE Alternext, NYSE Arca Europe and SmartPool, as well as NYSE Blue and Interbolsa, and its related cash trading market data business. Information Services and Technology Solutions segment refers to its commercial technology transactions, data and infrastructure businesses. The Company operates a commercial technology business, NYSE Technologies Inc., and also owns NYFIX, Inc., a provider of solutions that aims to optimize trading efficiency. NYSE Technologies provides comprehensive transaction, data and infrastructure services and managed solutions for buy-side, sell-side and exchange communities. NYSE Technologies' integrated solutions power the trading operations of global financial institutions and exchanges, including non-NYSE Euronext markets in addition to all the exchanges in the NYSE Euronext group. NYSE Technologies operates five businesses: Global Market Data, which offers an array of global market information products covering multiple asset classes; Trading Solutions, which creates and implements high performance, end-to-end messaging software and real-time market data distribution and integration products; Exchange Solutions, which provides multi-asset exchange platform services, managed services and expert consultancy; Global Connectivity, which offers a financial transaction network connecting firms and exchanges worldwide; and Transaction Services, which mainly comprises the former NYFIX FIX business, and which incorporates the NYFIX Marketplace and FIX Software businesses. NYSE Liffe US, NYSE Arca and NYSE Amex face considerable competition in derivatives trading. Their main U.S. competitors are the CME Group Inc., Chicago Board Options Exchange, Inc., the International Securities Exchange Holdings, Inc

NYSE Euronext, (XPAR:NYX) Headlines

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