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.
Ermenegildo Zegna NVZGN -0.57%83 Earnings Yield (Joel Greenblatt) % is -2.25% as of Sep. 2021. GuruFocus rates ZGN with a GF Score™ of 83/100 and a GF Value™ of $47.80 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,077 Manufacturing - Apparel & Accessories companies, Ermenegildo Zegna NV ranks worse than 61% on this metric.
Ermenegildo Zegna NV's Enterprise Value for the quarter that ended in Sep. 2021 was $499 Mil.
Ermenegildo Zegna NV's EBIT for the trailing twelve months (TTM) ended in Sep. 2021 was $-11 Mil. Ermenegildo Zegna NV's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2021 was -2.25%.
The historical rank and industry rank for Ermenegildo Zegna NV's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
ZGN'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -4.08 Med: 4.92 Max: 8.38
Current: 3.19
During the past 6 years, the highest Earnings Yield (Joel Greenblatt) of Ermenegildo Zegna NV was 8.38%. The lowest was -4.08%. And the median was 4.92%.
ZGN's Earnings Yield (Joel Greenblatt) % is ranked worse than 61% of 1077
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 5.38
vs ZGN: 3.19
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) %. Ermenegildo Zegna NV's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2021 was %. 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.
Ermenegildo Zegna NV Earnings Yield (Joel Greenblatt) % Related Terms
Ermenegildo Zegna NV Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Ermenegildo Zegna NV'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 Apparel Manufacturing subindustry, Ermenegildo Zegna NV'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.
Ermenegildo Zegna NV Earnings Yield (Joel Greenblatt) % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Ermenegildo Zegna NV's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Ermenegildo Zegna NV'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.
Ermenegildo Zegna NVs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
Ermenegildo Zegna NV's EBIT for the trailing twelve months (TTM) ended in Sep. 2021 adds up the quarterly data reported by the company within the most recent 12 months, which was $-11 Mil.
What does a Earnings Yield (Joel Greenblatt) % of -2.25% mean?
Ermenegildo Zegna NV (ZGN) has a Earnings Yield (Joel Greenblatt) % of -2.25% as of Sep. 2021. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on Ermenegildo Zegna NV and its competitors. According to the industry distribution chart, Ermenegildo Zegna NV ranks #657 out of 1077 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 61%.
Is Ermenegildo Zegna NV's Earnings Yield (Joel Greenblatt) % too high?
Ermenegildo Zegna NV's current Earnings Yield (Joel Greenblatt) % is -2.25%. Based on the distribution chart, Ermenegildo Zegna NV ranks #657 out of 1077 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, Ermenegildo Zegna NV has a GF Score™ of 83/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ermenegildo Zegna NV's Earnings Yield (Joel Greenblatt) % compare to PVH and KTB?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Ermenegildo Zegna NV ranks #657 out of 1077 companies for Earnings Yield (Joel Greenblatt) %. This places Ermenegildo Zegna NV in the lower half of its industry. The industry median Earnings Yield (Joel Greenblatt) % is 5.38. 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 Manufacturing - Apparel & Accessories company?
The median Earnings Yield (Joel Greenblatt) % among Manufacturing - Apparel & Accessories companies is 5.38, based on 1,077 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. 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 Ermenegildo Zegna NV and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Earnings Yield (Joel Greenblatt) % is 5.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ermenegildo Zegna NV's current Earnings Yield (Joel Greenblatt) % is -2.25%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ermenegildo Zegna NV stock overvalued right now?
Based on GuruFocus' analysis, Ermenegildo Zegna NV (ZGN) is currently considered Significantly Undervalued. The stock's GF Value™ is $47.80, compared to a current price of $12.29 — trading 74.3% below its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is -2.25%. Ermenegildo Zegna NV's overall GF Score™ is 83/100 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 Ermenegildo Zegna NV (ZGN), the current Earnings Yield (Joel Greenblatt) % is -2.25% as of Sep. 2021. 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 Ermenegildo Zegna NV (ZGN) Overvalued in 2026?
Based on GuruFocus' analysis, Ermenegildo Zegna NV stock appears to be undervalued.
The current stock price of $12.29 is trading 74.3% below its estimated GF Value™ of $47.80.
GuruFocus considers Ermenegildo Zegna NV to be Significantly Undervalued.
Key valuation signals for ZGN:
Earnings Yield (Joel Greenblatt) %: -2.25%
GF Value™: $47.80 vs. price of $12.29 (74.3% below fair value)
No single metric tells the full story. See the ZGN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ermenegildo Zegna NV designs creates, and distributes luxury menswear and accessories under the Zegna brand, as well as womenswear, menswear, and accessories under the Thom Browne brand. The company operates in three segments: the Zegna segment (comprising three product lines: Zegna Branded Products, Textile, and Third Party Brands); the Thom Browne segment, and the Tom Ford Fashion segment. The company generates the majority of revenue from the Zegna segment.
83GF Score
Get the complete analysis for ZGN
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
ZGN has been successfully added to your 
