BAE Systems's Enterprise Value for the quarter that ended in Dec. 2023 was $47,198 Mil.
BAE Systems's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $3,369 Mil. BAE Systems's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 7.34%.
The historical rank and industry rank for BAE Systems's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
BAESY'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.92 Med: 7.89 Max: 13.24
Current: 6.44
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of BAE Systems was 13.24%. The lowest was 4.92%. And the median was 7.89%.
BAESY's Earnings Yield (Joel Greenblatt) % is ranked better than 81.35% of 311
companies
in the Aerospace & Defense industry
Industry Median: 2.84
vs BAESY: 6.44
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) %. BAE Systems's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 15.75%. 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.
BAE Systems Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for BAE Systems'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.
BAE Systems Annual Data
Trend
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Earnings Yield (Joel Greenblatt) %
9.56
9.52
11.45
7.58
7.34
BAE Systems Semi-Annual Data
Jun14
Dec14
Jun15
Dec15
Jun16
Dec16
Jun17
Dec17
Jun18
Dec18
Jun19
Dec19
Jun20
Dec20
Jun21
Dec21
Jun22
Dec22
Jun23
Dec23
Earnings Yield (Joel Greenblatt) %
11.45
-
7.58
-
7.34
Competitive Comparison
For the Aerospace & Defense subindustry, BAE Systems'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.
BAE Systems Earnings Yield (Joel Greenblatt) % Distribution
For the Aerospace & Defense industry and Industrials sector, BAE Systems's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where BAE Systems's Earnings Yield (Joel Greenblatt) % falls into.
BAE Systems 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.
BAE Systemss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 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.
BAE Systems (OTCPK:BAESY) 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.
BAE Systems Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of BAE Systems's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
BAE Systems is a British global defense, security, and aerospace company and the largest defense contractor in Europe; it is one of six prime contractors to the U.S. Department of Defense. For reporting purposes, the company has five operating segments: electronics systems is the group's U.S.- and U.K.-based electronic warfare systems; the cyber, security, and intelligence segment supplies intelligence and security solutions to the U.S. government; platforms and services manufactures combat vehicles and munitions and performs ship repair services to the U.S. Defense Department; the air segment includes BAE's share of U.S. and European air programs as well as its businesses in Saudi Arabia and Australia; and the maritime segment comprises U.K. land- and marine-based activities.
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