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Azure Power Global's Enterprise Value for the quarter that ended in Mar. 2024 was $1,527.4 Mil.
Azure Power Global's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 was $104.5 Mil. Azure Power Global's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2024 was 6.84%.
The historical rank and industry rank for Azure Power Global's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
AZREF'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 0 Med: 0 Max: 7.87
Current: 7.87
During the past 11 years, the highest Earnings Yield (Joel Greenblatt) of Azure Power Global was 7.87%. The lowest was 0.00%. And the median was 0.00%.
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) %. Azure Power Global's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2024 was -351.13%. 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.
Azure Power Global (OTCPK:AZREF) 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.
Azure Power Global Earnings Yield (Joel Greenblatt) % Related Terms
Azure Power Global Earnings Yield (Joel Greenblatt) % Historical Data
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The historical data trend for Azure Power Global'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.
Azure Power Global Earnings Yield (Joel Greenblatt) % Chart
For the Utilities - Renewable subindustry, Azure Power Global'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.
Azure Power Global Earnings Yield (Joel Greenblatt) % vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Azure Power Global's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Azure Power Global's Earnings Yield (Joel Greenblatt) % falls into.
Azure Power Global 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.
Azure Power Globals Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Mar. 2024 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.
What does a Earnings Yield (Joel Greenblatt) % of 6.84% mean?
Azure Power Global (AZREF) has a Earnings Yield (Joel Greenblatt) % of 6.84% as of Mar. 2024. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Azure Power Global and its competitors.
Is Azure Power Global's Earnings Yield (Joel Greenblatt) % too high?
Azure Power Global's current Earnings Yield (Joel Greenblatt) % is 6.84%. The Utilities - Independent Power Producers industry median Earnings Yield (Joel Greenblatt) % is 3.34. Azure Power Global's value of 6.84% is 104.8% above this industry median. Overall, Azure Power Global has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Azure Power Global's Earnings Yield (Joel Greenblatt) % compare to SAFX and VGAS?
Azure Power Global's Earnings Yield (Joel Greenblatt) % of 6.84% can be compared against companies in the Utilities - Independent Power Producers industry. The industry median Earnings Yield (Joel Greenblatt) % is 3.34. Azure Power Global's value of 6.84% is 104.8% above this benchmark. 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 Utilities - Independent Power Producers company?
The median Earnings Yield (Joel Greenblatt) % among Utilities - Independent Power Producers companies is 3.34, based on 479 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. Azure Power Global's current Earnings Yield (Joel Greenblatt) % of 6.84% is 104.8% 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 Azure Power Global and its competitors. For the Utilities - Independent Power Producers industry, the median Earnings Yield (Joel Greenblatt) % is 3.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Azure Power Global's current Earnings Yield (Joel Greenblatt) % is 6.84%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Azure Power Global stock overvalued right now?
Azure Power Global (AZREF) has a current Earnings Yield (Joel Greenblatt) % of 6.84%. The current Earnings Yield (Joel Greenblatt) % is 6.84% and 104.8% above the Utilities - Independent Power Producers industry median of 3.34. Azure Power Global's overall GF Score™ is 12/100. 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 Azure Power Global (AZREF), the current Earnings Yield (Joel Greenblatt) % is 6.84% as of Mar. 2024. 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.
Azure Power Global Ltd is a utility-scale renewable energy project developer and operator. It is engaged in the development, construction, ownership, operation, maintenance, and management of renewable energy assets based on long-term contracts (Power Purchase Agreements or PPA) with Indian Government energy distribution companies, as well as other Indian non-governmental energy distribution companies and commercial customers.
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Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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