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Summit Materials's Enterprise Value for the quarter that ended in Mar. 2024 was $10,202 Mil. Summit Materials's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 was $492 Mil. Summit Materials's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2024 was 4.83%.
The historical rank and industry rank for Summit Materials's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Summit Materials was 14.42%. The lowest was -6.32%. And the median was 4.98%.
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) %. Summit Materials's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2024 was 14.43%. 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 Summit Materials'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.
Summit Materials Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Earnings Yield (Joel Greenblatt) % | Get a 7-Day Free Trial | 4.50 | 6.04 | 4.81 | 10.19 | 7.75 |
Summit Materials Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Earnings Yield (Joel Greenblatt) % | Get a 7-Day Free Trial | 10.04 | 5.59 | 9.39 | 7.75 | 4.83 |
For the Building Materials subindustry, Summit Materials'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 Building Materials industry and Basic Materials sector, Summit Materials's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Summit Materials'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.
Summit Materialss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Earnings Yield (Joel Greenblatt) | = | EBIT | / | Enterprise Value |
= | 508.619 | / | 6565.77534 | |
= | 7.75 % |
Summit Materials's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $492 Mil.
Summit Materials (NYSE:SUM) 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 Summit Materials's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Craig Scott Anderson | officer: EVP & Chief Financial Officer | 1801 CALIFORNIA STREET, SUITE 3500, DENVER CO 80202 |
Christopher Burke Gaskill | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 08202 |
Kekin Ghelani | officer: Chief Strategy&Growth Officer | 1550 WYNKOOP, DENVER CO 80202 |
Anne K. Wade | director | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
John Raymond Murphy | director | 233 S PATTERSON AVE, SPRINGFIELD MO 65802 |
Anne P Noonan | director, officer: President & CEO | 25435 HARVARD RD, BEACHWOOD OH 44122 |
Tamla Oates-forney | director | 800 CAPITOL STREET 3000, HOUSTON TX 77002 |
Deon Macmillan | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 08202 |
Karli S. Anderson | officer: See Remarks | 1660 WYNKOOP STREET, SUITE 1000, DENVER CO 80202 |
Howard L Lance | director | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Joseph S Cantie | director | C/O DELPHI AUTOMOTIVE, 5725 DELPHI DRIVE, TROY MI 48098 |
Anne Lee Benedict | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Brian James Harris | officer: EVP & Chief Financial Officer | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Mikel Shane Evans | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Longleaf Partners Funds Trust | 10 percent owner | C/O SOUTHEASTERN ASSET MANAGEMENT, 6410 POPLAR AVE, SUITE 900, MEMPHIS TN 38119 |
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