What is Honeywell International Earnings Yield (Joel Greenblatt) %?
Honeywell International's Enterprise Value for the quarter that ended in Dec. 2023 was $150,715 Mil.
Honeywell International's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $7,924 Mil. Honeywell International's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 5.26%.
The historical rank and industry rank for Honeywell International's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
HON'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.66 Med: 6.35 Max: 9.05
Current: 5.61
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Honeywell International was 9.05%. The lowest was 3.66%. And the median was 6.35%.
HON's Earnings Yield (Joel Greenblatt) % is ranked worse than 53.93% of 534
companies
in the Conglomerates industry
Industry Median: 6.755
vs HON: 5.61
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) %. Honeywell International's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 5.31%. 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.
Honeywell International Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Honeywell International'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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Honeywell International Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Honeywell International's Earnings Yield (Joel Greenblatt) %
For the Conglomerates subindustry, Honeywell International'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.
Honeywell International's Earnings Yield (Joel Greenblatt) % Distribution in the Conglomerates Industry
For the Conglomerates industry and Industrials sector, Honeywell International's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Honeywell International's Earnings Yield (Joel Greenblatt) % falls into.
Honeywell International 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.
Honeywell Internationals Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Honeywell International'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 $7,924 Mil.
Honeywell International (NAS:HON) 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.
Honeywell International Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Honeywell International's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Honeywell International (Honeywell International) Business Description
Honeywell traces its roots to 1885 with Albert Butz's firm, Butz-Thermo Electric Regulator, which produced a predecessor to the modern thermostat. Today, Honeywell is a global multi-industry behemoth with one of the largest installed bases of equipment. It operates through four business segments: aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. In recent years, the firm has made several portfolio changes, including the addition of Intelligrated in 2016, as well as the spinoffs of Garrett Technologies and Resideo in 2018. In 2019, the firm launched Honeywell Forge, its enterprise performance management software solution that leverages the firm's domain expertise in buildings, airlines, and critical infrastructure.
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