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Activision Blizzard (NAS:ATVI) Earnings Yield (Joel Greenblatt) %

: 3.98% (As of Sep. 2022)
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Activision Blizzard's Enterprise Value for the quarter that ended in Sep. 2022 was $51,098 Mil. Activision Blizzard's EBIT for the trailing twelve months (TTM) ended in Sep. 2022 was $2,032 Mil. Activision Blizzard's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2022 was 3.98%.

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

ATVI' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.36   Med: 5.34   Max: 19.59
Current: 4.03

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Activision Blizzard was 19.59%. The lowest was 2.36%. And the median was 5.34%.

ATVI's Earnings Yield (Joel Greenblatt) % is ranked better than
59.7% of 598 companies
in the Interactive Media industry
Industry Median: 1.20 vs ATVI: 4.03

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) %. Activision Blizzard's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2022 was 7.27%. 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.


Activision Blizzard (NAS:ATVI) Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Activision Blizzard'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.

Activision Blizzard Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Earnings Yield (Joel Greenblatt) % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.76 5.93 4.05 4.06 7.27

Activision Blizzard Quarterly Data
Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
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 5.91 7.27 5.38 4.24 3.98

Activision Blizzard (NAS:ATVI) Earnings Yield (Joel Greenblatt) % Competitive Comparison

For the Electronic Gaming & Multimedia subindustry, Activision Blizzard'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.

   

Activision Blizzard (NAS:ATVI) Earnings Yield (Joel Greenblatt) % Distribution

For the Interactive Media industry and Communication Services sector, Activision Blizzard's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

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



Activision Blizzard 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.

Activision Blizzards Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2021 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=3272/45015.39609
=7.27 %

Activision Blizzard's EBIT for the trailing twelve months (TTM) ended in Sep. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,032 Mil.



Activision Blizzard  (NAS:ATVI) 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.


Activision Blizzard Earnings Yield (Joel Greenblatt) % Related Terms

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


Activision Blizzard (NAS:ATVI) Business Description

Activision Blizzard logo
Address
2701 Olympic Boulevard, Building B, Santa Monica, CA, USA, 90404
Activision Blizzard was formed in 2008 by the merger of Activision, one of the largest console video game publishers, and Blizzard, one of largest PC video game publishers. The combined firm remains one of the world's largest video game publishers. Activision's impressive franchise portfolio includes World of Warcraft, which boasts more than $8 billion of lifetime sales, and Call of Duty, which has sold over 175 million copies across 14 titles over 12 years.
Executives
Meservey Lulu Cheng director 2701 OLYMPIC BOULEVARD BUILDING B SANTA MONICA CA 90404
Bulatao Brian officer: Chief Administrative Officer C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Dixton Grant Michael officer: Chief Legal Officer C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Zerza Armin officer: Chief Financial Officer C/O ACTIVISION BLIZZARD, INC 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Macartney Claudine officer: Chief People Officer AMERICAN INTERNATIONAL GROUP, INC. 175 WATER ST. NEW YORK NY 10038
Ostroff Dawn director 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 91405
Yang Jesse officer: Chief Accounting Officer C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Alegre Daniel officer: President and COO 9800 59TH AVENUE NORTH MINNEAPOLIS MN 55317
Wereb Stephen G officer: Principal Accounting Officer C/O ACTIVISION, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Walther Christopher B officer: Chief Legal Officer C/O ACTIVISION BLIZZARD 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Bowers Reveta F director C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Johnson Collister officer: President and COO C/O ACTIVISION BLIZZARD, INC. 3100 OCEAN PARK BOULEVARD SANTA MONICA CA 90405
Neumann Spencer Adam officer: Chief Financial Officer SIERRA INCOME CORPORATION 375 PARK AVE., SUITE 3304 NEW YORK NY 10152
Asac Ii Lp 10 percent owner C/O CHADWICK & COMPANY 225 HIGHWAY 35, SUITE 102C RED BANK NJ 07701
Asac Ii Llc 10 percent owner C/O CHADWICK & COMPANY 225 HIGHWAY 35, SUITE 102C RED BANK NJ 07701

Activision Blizzard (NAS:ATVI) Headlines

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