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.
NNN REITSTU:CZ2 -0.62%79 Earnings Yield (Joel Greenblatt) % is 4.29% as of Jun. 2026, which is 6% above its 10-year median of 4.04. GuruFocus rates STU:CZ2 with a GF Score™ of 79/100 and a GF Value™ of €39.82 (Fairly Valued). The stock has 7 warning signs investors should review. Among 961 REITs companies, NNN REIT ranks better than 58.9% on this metric.
NNN REIT's Enterprise Value for the quarter that ended in Jun. 2026 was €12,164.4 Mil.
NNN REIT's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was €514.0 Mil. NNN REIT's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2026 was 4.29%.
The historical rank and industry rank for NNN REIT's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
STU:CZ2'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.91 Med: 4.04 Max: 5.21
Current: 4.32
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of NNN REIT was 5.21%. The lowest was 2.91%. And the median was 4.04%.
STU:CZ2's Earnings Yield (Joel Greenblatt) % is ranked better than 58.9% of 961
companies
in the REITs industry
Industry Median: 3.47
vs STU:CZ2: 4.32
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) %. NNN REIT's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2026 was 13.52%. 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.
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.
NNN REIT Earnings Yield (Joel Greenblatt) % Related Terms
NNN REIT Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for NNN REIT'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 REIT - Retail subindustry, NNN REIT'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.
NNN REIT Earnings Yield (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, NNN REIT's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where NNN REIT's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
NNN REITs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
NNN REIT's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €514.0 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 4.29% mean?
NNN REIT (STU:CZ2) has a Earnings Yield (Joel Greenblatt) % of 4.29% as of Jun. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on NNN REIT and its competitors. This is near median its historical median of 4.04. Over the past decade, NNN REIT's Earnings Yield (Joel Greenblatt) % has ranged from 2.91 to 5.21. According to the industry distribution chart, NNN REIT ranks #395 out of 961 companies in the REITs industry, placing it in the top 41.1%.
Is NNN REIT's Earnings Yield (Joel Greenblatt) % too high?
NNN REIT's current Earnings Yield (Joel Greenblatt) % of 4.29% is near median its 10-year median of 4.04. Over the past 10 years, this metric has ranged from a low of 2.91 to a high of 5.21. The REITs industry median Earnings Yield (Joel Greenblatt) % is 3.47. NNN REIT's value of 4.29% is 23.6% above this industry median. Based on the distribution chart, NNN REIT ranks #395 out of 961 companies in the REITs industry, which is above the industry midpoint. Overall, NNN REIT has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NNN REIT's Earnings Yield (Joel Greenblatt) % compare to ADC and BRX?
According to the REITs industry distribution chart, NNN REIT ranks #395 out of 961 companies for Earnings Yield (Joel Greenblatt) %. This puts NNN REIT in the upper half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 3.47. NNN REIT's value of 4.29% is 23.6% above this benchmark. Historically, NNN REIT's own Earnings Yield (Joel Greenblatt) % has ranged from 2.91 to 5.21 over the past decade. While the company's 10-year median is 4.04 vs. the industry median of 3.47, NNN REIT 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 REITs company?
The median Earnings Yield (Joel Greenblatt) % among REITs companies is 3.47, based on 961 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. NNN REIT's current Earnings Yield (Joel Greenblatt) % of 4.29% is 23.6% 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 NNN REIT and its competitors. For the REITs industry, the median Earnings Yield (Joel Greenblatt) % is 3.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NNN REIT's current Earnings Yield (Joel Greenblatt) % is 4.29%, which is near median its own 10-year median of 4.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NNN REIT stock overvalued right now?
Based on GuruFocus' analysis, NNN REIT (STU:CZ2) is currently considered Fairly Valued. The stock's GF Value™ is €39.82, compared to a current price of €39.81 — trading 0% below its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 4.29%, which is near median its 10-year median of 4.04 and 23.6% above the REITs industry median of 3.47. NNN REIT's overall GF Score™ is 79/100 with 7 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 NNN REIT (STU:CZ2), the current Earnings Yield (Joel Greenblatt) % is 4.29% as of Jun. 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 NNN REIT (STU:CZ2) Overvalued in 2026?
Based on GuruFocus' analysis, NNN REIT stock appears to be undervalued.
The current stock price of €39.81 is trading 0% below its estimated GF Value™ of €39.82.
GuruFocus considers NNN REIT to be Fairly Valued.
Key valuation signals for STU:CZ2:
Earnings Yield (Joel Greenblatt) %: 4.29% (near median its 10-year median of 4.04)
GF Value™: €39.82 vs. price of €39.81 (0% below fair value)
Industry Position: 23.6% above the REITs median (#395 of 961)
No single metric tells the full story. See the STU:CZ2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NNN REIT Inc is a real estate investment trust that acquires, owns, invests in, and develops high-quality properties mainly leased under long-term net leases with minimal capital expenditure requirements. The company focuses mainly on retail properties, with a portfolio including convenience stores, automotive service properties, restaurants, theatres, entertainment venues, dealerships, and other retail-related assets. Primary business objectives emphasize retail properties, and it may invest in a wide variety of property and tenant types, leases, mortgages, loans secured by personal property, loans secured by partnership or membership interests, and securities of other REITs or other issuers.
79GF Score
Get the complete analysis for STU:CZ2
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
STU:CZ2 has been successfully added to your 
