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.
AppleCHIX:APCD 91 Earnings Yield (Joel Greenblatt) % is 3.94% as of Mar. 2026, which is 10% below its 10-year median of 4.40. GuruFocus rates CHIX:APCD with a GF Score™ of 91/100 and a GF Value™ of €229.79 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 2,492 Hardware companies, Apple ranks better than 55.02% on this metric.
Apple's Enterprise Value for the quarter that ended in Mar. 2026 was €3,178,570 Mil.
Apple's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was €126,547 Mil. Apple's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2026 was 3.94%.
The historical rank and industry rank for Apple's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
CHIX:APCd'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.99 Med: 4.4 Max: 11.63
Current: 3
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Apple was 11.63%. The lowest was 2.99%. And the median was 4.40%.
CHIX:APCd's Earnings Yield (Joel Greenblatt) % is ranked better than 55.02% of 2492
companies
in the Hardware industry
Industry Median: 2.33
vs CHIX:APCd: 3.00
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) %. Apple's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 10.97%. 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.
Apple (CHIX:APCd) 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.
Apple Earnings Yield (Joel Greenblatt) % Related Terms
Apple Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Apple'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.
For the Consumer Electronics subindustry, Apple'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.
Apple Earnings Yield (Joel Greenblatt) % vs Hardware Industry
For the Hardware industry and Technology sector, Apple's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Apple's Earnings Yield (Joel Greenblatt) % falls into.
Apple 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.
Apples Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Sep. 2025 is calculated as
Apple'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 €126,547 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 3.94% mean?
Apple (CHIX:APCD) has a Earnings Yield (Joel Greenblatt) % of 3.94% 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 Apple and its competitors. This is 10% below median its historical median of 4.40. Over the past decade, Apple's Earnings Yield (Joel Greenblatt) % has ranged from 2.99 to 11.63. According to the industry distribution chart, Apple ranks #1121 out of 2492 companies in the Hardware industry, placing it in the top 45%.
Is Apple's Earnings Yield (Joel Greenblatt) % too high?
Apple's current Earnings Yield (Joel Greenblatt) % of 3.94% is 10% below median its 10-year median of 4.40. Over the past 10 years, this metric has ranged from a low of 2.99 to a high of 11.63. The Hardware industry median Earnings Yield (Joel Greenblatt) % is 2.33. Apple's value of 3.94% is 69.1% above this industry median. Based on the distribution chart, Apple ranks #1121 out of 2492 companies in the Hardware industry, which is above the industry midpoint. Overall, Apple has a GF Score™ of 91/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Apple's Earnings Yield (Joel Greenblatt) % compare to SONO and TBCH?
According to the Hardware industry distribution chart, Apple ranks #1121 out of 2492 companies for Earnings Yield (Joel Greenblatt) %. This puts Apple in the upper half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 2.33. Apple's value of 3.94% is 69.1% above this benchmark. Historically, Apple's own Earnings Yield (Joel Greenblatt) % has ranged from 2.99 to 11.63 over the past decade. While the company's 10-year median is 4.40 vs. the industry median of 2.33, Apple 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 a Hardware company?
The median Earnings Yield (Joel Greenblatt) % among Hardware companies is 2.33, based on 2,492 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. Apple's current Earnings Yield (Joel Greenblatt) % of 3.94% is 69.1% 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 Apple and its competitors. For the Hardware industry, the median Earnings Yield (Joel Greenblatt) % is 2.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Apple's current Earnings Yield (Joel Greenblatt) % is 3.94%, which is 10% below median its own 10-year median of 4.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Apple stock overvalued right now?
Based on GuruFocus' analysis, Apple (CHIX:APCD) is currently considered Modestly Overvalued. The stock's GF Value™ is €229.79, compared to a current price of €267.55 — trading 16.4% above its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 3.94%, which is 10% below median its 10-year median of 4.40 and 69.1% above the Hardware industry median of 2.33. Apple's overall GF Score™ is 91/100 with 5 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 Apple (CHIX:APCD), the current Earnings Yield (Joel Greenblatt) % is 3.94% 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 Apple (CHIX:APCD) Overvalued in 2026?
Based on GuruFocus' analysis, Apple stock appears to be overvalued.
The current stock price of €267.55 is trading 16.4% above its estimated GF Value™ of €229.79.
GuruFocus considers Apple to be Modestly Overvalued.
Key valuation signals for CHIX:APCD:
Earnings Yield (Joel Greenblatt) %: 3.94% (10% below median its 10-year median of 4.40)
GF Value™: €229.79 vs. price of €267.55 (16.4% above fair value)
Industry Position: 69.1% above the Hardware median (#1121 of 2492)
No single metric tells the full story. See the CHIX:APCD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone accounts for the majority of the firm's sales, and Apple's other products, such as the Mac, iPad, and Watch, are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, such as streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors and works with subcontractors such as Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with the majority coming indirectly through partnerships and distribution.
91GF Score
Get the complete analysis for CHIX:APCD
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
CHIX:APCD has been successfully added to your 
