Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
American Financial GroupAFG +1.40%80 Earnings Yield (Joel Greenblatt) % is 10.82% as of Mar. 2026, which is 3% above its 10-year median of 10.51. GuruFocus rates AFG with a GF Score™ of 80/100 and a GF Value™ of $125.81 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 512 Insurance companies, American Financial Group ranks better than 61.13% on this metric.
American Financial Group's Enterprise Value for the quarter that ended in Mar. 2026 was $11,078 Mil.
American Financial Group's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was $1,199 Mil. American Financial Group's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2026 was 10.82%.
The historical rank and industry rank for American Financial Group's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
AFG'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -3.04 Med: 10.51 Max: 18.33
Current: 9.78
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of American Financial Group was 18.33%. The lowest was -3.04%. And the median was 10.51%.
AFG's Earnings Yield (Joel Greenblatt) % is ranked better than 61.13% of 512
companies
in the Insurance industry
Industry Median: 7.05
vs AFG: 9.78
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) %. American Financial Group's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 10.57%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five 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.
American Financial Group (NYSE:AFG) 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.
American Financial Group Earnings Yield (Joel Greenblatt) % Related Terms
American Financial Group Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for American Financial Group'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.
American Financial Group Earnings Yield (Joel Greenblatt) % Chart
For the Insurance - Property & Casualty subindustry, American Financial Group'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.
American Financial Group Earnings Yield (Joel Greenblatt) % vs Insurance Industry
For the Insurance industry and Financial Services sector, American Financial Group's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where American Financial Group's Earnings Yield (Joel Greenblatt) % falls into.
American Financial Group 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.
American Financial Groups Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
American Financial Group's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,199 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 10.82% mean?
American Financial Group (AFG) has a Earnings Yield (Joel Greenblatt) % of 10.82% as of Mar. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on American Financial Group and its competitors. This is near median its historical median of 10.51. According to the industry distribution chart, American Financial Group ranks #199 out of 512 companies in the Insurance industry, placing it in the top 38.9%.
Is American Financial Group's Earnings Yield (Joel Greenblatt) % too high?
American Financial Group's current Earnings Yield (Joel Greenblatt) % of 10.82% is near median its 10-year median of 10.51. The Insurance industry median Earnings Yield (Joel Greenblatt) % is 7.05. American Financial Group's value of 10.82% is 53.5% above this industry median. Based on the distribution chart, American Financial Group ranks #199 out of 512 companies in the Insurance industry, which is above the industry midpoint. Overall, American Financial Group has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does American Financial Group's Earnings Yield (Joel Greenblatt) % compare to CNA and ORI?
According to the Insurance industry distribution chart, American Financial Group ranks #199 out of 512 companies for Earnings Yield (Joel Greenblatt) %. This puts American Financial Group in the upper half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 7.05. American Financial Group's value of 10.82% is 53.5% above this benchmark. While the company's 10-year median is 10.51 vs. the industry median of 7.05, American Financial Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for an Insurance company?
The median Earnings Yield (Joel Greenblatt) % among Insurance companies is 7.05, based on 512 companies in the industry. Companies in the top quartile (top 25%) have a Earnings Yield (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. American Financial Group's current Earnings Yield (Joel Greenblatt) % of 10.82% is 53.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on American Financial Group and its competitors. For the Insurance industry, the median Earnings Yield (Joel Greenblatt) % is 7.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. American Financial Group's current Earnings Yield (Joel Greenblatt) % is 10.82%, which is near median its own 10-year median of 10.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is American Financial Group stock overvalued right now?
Based on GuruFocus' analysis, American Financial Group (AFG) is currently considered Modestly Overvalued. The stock's GF Value™ is $125.81, compared to a current price of $141.89 — trading 12.8% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 10.82%, which is near median its 10-year median of 10.51 and 53.5% above the Insurance industry median of 7.05. American Financial Group's overall GF Score™ is 80/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For American Financial Group (AFG), the current Earnings Yield (Joel Greenblatt) % is 10.82% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is American Financial Group (AFG) Overvalued in 2026?
Based on GuruFocus' analysis, American Financial Group stock appears to be overvalued.
The current stock price of $141.89 is trading 12.8% above its estimated GF Value™ of $125.81.
GuruFocus considers American Financial Group to be Modestly Overvalued.
Key valuation signals for AFG:
Earnings Yield (Joel Greenblatt) %: 10.82% (near median its 10-year median of 10.51)
GF Value™: $125.81 vs. price of $141.89 (12.8% above fair value)
Industry Position: 53.5% above the Insurance median (#199 of 512)
No single metric tells the full story. See the AFG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
American Financial Group Inc is an insurance holding company. Through its subsidiaries, it is engaged in the property and casualty insurance business, focusing on specialized commercial products for businesses. The group operates through two segments: Property and Casualty Insurance, which generates maximum revenue, and Other. The Property and Casualty Insurance segment is further divided into different sub-segments, such as Property and transportation, Specialty casualty, and Specialty financial. These sub-segments offer insurance coverage for vehicles and commercial property, customized programs for small to mid-sized businesses, workers' compensation insurance, risk management insurance programs for lending and leasing institutions, trade credit insurance, and other insurance products.
80GF Score
Get the complete analysis for AFG
Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
AFG has been successfully added to your 
