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Smart Capital SpAMIL:SMCAP 9 Earnings Yield (Joel Greenblatt) % is 11.16% as of Dec. 2025, which is 250% above its 10-year median of 3.19. GuruFocus rates MIL:SMCAP with a GF Score™ of 9/100. The stock has 4 warning signs investors should review. Among 1,633 Asset Management companies, Smart Capital SpA ranks better than 86.34% on this metric.
Smart Capital SpA's Enterprise Value for the quarter that ended in Dec. 2025 was €83.20 Mil.
Smart Capital SpA's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was €9.29 Mil. Smart Capital SpA's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2025 was 11.16%.
The historical rank and industry rank for Smart Capital SpA's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
MIL:SMCAP'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.49 Med: 3.19 Max: 11.72
Current: 10.54
During the past 4 years, the highest Earnings Yield (Joel Greenblatt) of Smart Capital SpA was 11.72%. The lowest was 1.49%. And the median was 3.19%.
MIL:SMCAP's Earnings Yield (Joel Greenblatt) % is ranked better than 86.34% of 1633
companies
in the Asset Management industry
Industry Median: 0
vs MIL:SMCAP: 10.54
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) %. Smart Capital SpA's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2025 was 0.00%. 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.
Smart Capital SpA (MIL:SMCAP) 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.
Smart Capital SpA Earnings Yield (Joel Greenblatt) % Related Terms
Smart Capital SpA Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Smart Capital SpA'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.
Smart Capital SpA Earnings Yield (Joel Greenblatt) % Chart
For the Asset Management subindustry, Smart Capital SpA'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.
Smart Capital SpA Earnings Yield (Joel Greenblatt) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Smart Capital SpA's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Smart Capital SpA's Earnings Yield (Joel Greenblatt) % falls into.
Smart Capital SpA 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.
Smart Capital SpAs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 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 11.16% mean?
Smart Capital SpA (MIL:SMCAP) has a Earnings Yield (Joel Greenblatt) % of 11.16% as of Dec. 2025. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Smart Capital SpA and its competitors. This is 250% above median its historical median of 3.19. Over the past decade, Smart Capital SpA's Earnings Yield (Joel Greenblatt) % has ranged from 1.49 to 11.72. According to the industry distribution chart, Smart Capital SpA ranks #223 out of 1633 companies in the Asset Management industry, placing it in the top 13.7%.
Is Smart Capital SpA's Earnings Yield (Joel Greenblatt) % too high?
Smart Capital SpA's current Earnings Yield (Joel Greenblatt) % of 11.16% is 250% above median its 10-year median of 3.19. Over the past 10 years, this metric has ranged from a low of 1.49 to a high of 11.72. Based on the distribution chart, Smart Capital SpA ranks #223 out of 1633 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Smart Capital SpA has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Smart Capital SpA's Earnings Yield (Joel Greenblatt) % compare to BLK and BX?
According to the Asset Management industry distribution chart, Smart Capital SpA ranks #223 out of 1633 companies for Earnings Yield (Joel Greenblatt) %. This places Smart Capital SpA in the top 14% of its industry — outperforming the majority of peers. Historically, Smart Capital SpA's own Earnings Yield (Joel Greenblatt) % has ranged from 1.49 to 11.72 over the past decade. 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 Asset Management company?
A good Earnings Yield (Joel Greenblatt) % depends on the Asset Management industry context. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. 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 Smart Capital SpA and its competitors. Smart Capital SpA's current Earnings Yield (Joel Greenblatt) % is 11.16%, which is 250% above median its own 10-year median of 3.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smart Capital SpA stock overvalued right now?
Smart Capital SpA (MIL:SMCAP) has a current Earnings Yield (Joel Greenblatt) % of 11.16%. The current Earnings Yield (Joel Greenblatt) % is 11.16%, which is 250% above median its 10-year median of 3.19. Smart Capital SpA's overall GF Score™ is 9/100 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 Smart Capital SpA (MIL:SMCAP), the current Earnings Yield (Joel Greenblatt) % is 11.16% as of Dec. 2025. 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.
Smart Capital SpA is a permanent capital industrial holding company specializing in private investments in public equity (PIPE) and private equity, focusing on small and medium-sized Italian companies, listed, unlisted or in the pre-IPO phase, operating both in Italy and abroad. It is characterized, also in its investment approach, by an entrepreneurial and longterm DNA. The company's main activity consists of acquiring shares and other financial instruments that allow the purchase or subscription of shares, including in the context of capital increases, at the time of listing or subsequently (such as the PIPE), reserved placements, public subscription and sale offers.
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