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CBL & Associates Properties's Enterprise Value for the quarter that ended in Dec. 2023 was $2,445.0 Mil. CBL & Associates Properties's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $177.0 Mil. CBL & Associates Properties's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 7.24%.
The historical rank and industry rank for CBL & Associates Properties's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
During the past 5 years, the highest Earnings Yield (Joel Greenblatt) of CBL & Associates Properties was 7.52%. The lowest was -0.63%. And the median was 4.56%.
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) %. CBL & Associates Properties's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 0.00%. 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.
The historical data trend for CBL & Associates Properties'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.
CBL & Associates Properties Annual Data | ||||||
Trend | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |
Earnings Yield (Joel Greenblatt) % | - | - | - | 4.83 | 7.24 |
For the REIT - Retail subindustry, CBL & Associates Properties'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.
For the REITs industry and Real Estate sector, CBL & Associates Properties's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where CBL & Associates Properties'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.
CBL & Associates Propertiess Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Earnings Yield (Joel Greenblatt) | = | EBIT | / | Enterprise Value |
= | 177.003 | / | 2445.021152 | |
= | 7.24 % |
CBL & Associates Properties's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $177.0 Mil.
CBL & Associates Properties (NYSE:CBL) 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.
Thank you for viewing the detailed overview of CBL & Associates Properties's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Andrew Franklin Cobb | officer: Exec VP-Accounting | 1563 QUIET POND DR, CHATTANOOGA TN 37415 |
Benjamin W Jaenicke | officer: Exec VP - Finance | 2030 HAMILTON PLC BLVD, CBL CENTER, SUITE 500, CHATTANOOGA TN 37421 |
Michael A Torres | director | MANUFACTURED HOME COMMUNTIES INC, 2 N RIVERSIDE PLZ #8, CHICAGO IL 60606 |
Joseph Khalili | officer: EVP Financial Planning & Anlys | 2030 HAMILTON PLC BLVD, CBL CENTER, SUITE 500, CHATTANOOGA TN 37421 |
Jennifer Cope | officer: EVP Ops Services & Risk Mgmt | 2030 HAMILTON PLC BLVD, CBL CENTER, SUITE 500, CHATTANOOGA TN 37421 |
David J Contis | director | 2 NORTH RIVERSIDE PLAZA, SUITE 600, CHICAGO IL 60606 |
Jeffery V. Curry | officer: Interim Chief Legal Officer | 4019 BREAKWATER DR, HIXON TN 37343 |
Charles B Lebovitz | director, 10 percent owner, officer: Chairman and CEO | CBL & ASSOCIATES PROPERTIES INC, ONE PARK PLACE 6148 LEE HWY, CHATTANOOGA TN 37421 |
Strategic Value Partners, Llc | 10 percent owner | 100 WEST PUTNAM AVENUE, GREENWICH CT 06830 |
Strategic Value Special Situations Offshore Fund V, L.p. | 10 percent owner | 100 WEST PUTNAM AVENUE, GREENWICH CT 06830 |
Jonathan M Heller | director, other: Member of 10% owner group | CANYON PARTNERS, LLC, 1370 AVENUE OF THE AMERICAS, 30TH FLOOR, NEW YORK NY 10019 |
Jeffrey Kivitz | director | 39 BOLAND ROAD, SHARON CT 06069 |
Marjorie L. Bowen | director | 225 6TH STREET, MANHATTAN BEACH CA 90266 |
Strategic Value Special Situations Master Fund Iv, L.p. | 10 percent owner | 100 WEST PUTNAM AVENUE, GREENWICH CT 06830 |
Svp Special Situations Iv Llc | 10 percent owner | C/O STRATEGIC VALUE PARTNERS, LLC, 100 WEST PUTNAM AVENUE, GREENWICH CT 06830 |
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