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Aflac (NYSE:AFL) Earnings Yield (Joel Greenblatt) %

: 11.71% (As of Sep. 2023)
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Aflac's Enterprise Value for the quarter that ended in Sep. 2023 was $46,503 Mil. Aflac's EBIT for the trailing twelve months (TTM) ended in Sep. 2023 was $5,120 Mil. Aflac's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2023 was 11.71%.

The historical rank and industry rank for Aflac's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

AFL' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 9.7   Med: 13.44   Max: 21.85
Current: 10.05

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Aflac was 21.85%. The lowest was 9.70%. And the median was 13.44%.

AFL's Earnings Yield (Joel Greenblatt) % is ranked better than
64.74% of 485 companies
in the Insurance industry
Industry Median: 5.27 vs AFL: 10.05

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) %. Aflac's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2023 was 20.05%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven 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.


Aflac Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Aflac'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.

* Premium members only.

Aflac Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 11.64 13.12 13.57 10.11 -

Aflac Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Earnings Yield (Joel Greenblatt) % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.11 11.40 11.34 11.71 -

Competitive Comparison

For the Insurance - Life subindustry, Aflac'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.


Aflac Earnings Yield (Joel Greenblatt) % Distribution

For the Insurance industry and Financial Services sector, Aflac's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Aflac's Earnings Yield (Joel Greenblatt) % falls into.



Aflac 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.

Aflacs Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2022 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=4830/47760.51664
=10.11 %

Aflac's EBIT for the trailing twelve months (TTM) ended in Sep. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $5,120 Mil.



Aflac  (NYSE:AFL) 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.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Aflac Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Aflac's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Aflac (NYSE:AFL) Business Description

Industry
Traded in Other Exchanges
Address
1932 Wynnton Road, Columbus, GA, USA, 31999
Aflac Inc offers supplemental health insurance and life insurance in the two largest insurance markets in the world, the U.S. and Japan. In addition to its cancer policies, the company has broadened its product offerings to include accident, disability, and long-term-care insurance. It markets its products through independent distributors, selling most of its policies directly to consumers at their places of work.
Executives
Steven Kent Beaver officer: SVP, CFO, Aflac US 1932 WYNNTON ROAD, COLUMBUS GA 31999
Masatoshi Koide officer: Deputy President, Aflac Japan 1932 WYNNTON RD, COLUMBUS GA 31999
June P Howard officer: Sr. Vice President 1932 WYNNTON RD, COLUMBUS GA 31999
Lake Charles D Ii officer: President AFLAC Japan AFLAC INC, 1932 WYNNTON RD, COLUMBUS GA 31999
Frederick John Crawford officer: EVP, Chief Financial Officer AFLAC INCORPORATED, COLUMBUS GA 31999
William P Bowers director 600 NORTH 18TH STREET, BIN 15N-8170, BIRMINGHAM AL 35203
Joseph L Moskowitz director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Simard Frederic Jean Guy officer: SVP, CFO, Aflac U.S. 1932 WYNNTON ROAD, COLUMBUS GA 31999
James Todd Daniels officer: Sr. Vice President 1932 WYNNTON ROAD, COLUMBUS GA 31999
Albert Riggieri officer: SVP, Corporate Actuary 1932 WYNNTON RD, COLUMBUS GA 31999
Virgil Raynard Miller officer: President, Aflac U.S. 1932 WYNNTON ROAD, COLUMBUS GA 31999
Barbara K Rimer director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Miwako Hosoda director 1932 WYNNTON ROAD, COLUMBUS GA 31999
Bradley Eugene Dyslin officer: Executive Vice President 1932 WYNNTON ROAD, COLUMBUS GA 31999
Audrey B Tillman officer: Executive Vice President 1932 WYNNTON RD, COLUMBUS GA 31999