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Apple Earnings Yield (Joel Greenblatt) %

: 5.30% (As of Jun. 2022)
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Apple's Enterprise Value for the quarter that ended in Jun. 2022 was ARS342,865,268 Mil. Apple's EBIT for the trailing twelve months (TTM) ended in Jun. 2022 was ARS12,746,243 Mil. Apple's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2022 was 5.30%.

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

BUE:AAPL' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.21   Med: 8.49   Max: 16.14
Current: 4.2

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Apple was 16.14%. The lowest was 3.21%. And the median was 8.49%.

BUE:AAPL's Earnings Yield (Joel Greenblatt) % is ranked worse than
51.19% of 2397 companies
in the Hardware industry
Industry Median: 4.47 vs BUE:AAPL: 4.20

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) %. Apple's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2022 was 20.60%. 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.


Apple Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Apple'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.

Apple Annual Data
Trend Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.99 6.79 6.92 3.52 4.69

Apple Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 4.44 4.69 4.04 4.20 5.30

Competitive Comparison

For the Consumer Electronics subindustry, Apple'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.

   

Apple Earnings Yield (Joel Greenblatt) % Distribution

For the Hardware industry and Technology sector, Apple's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

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



Apple 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.

Apples Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Sep. 2021 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=10936888.447219/274643677.8374
=3.98 %

Apple's EBIT for the trailing twelve months (TTM) ended in Jun. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was ARS12,746,243 Mil.



Apple  (BUE:AAPL) 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.


Apple Earnings Yield (Joel Greenblatt) % Related Terms

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Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), AirPods, and TV boxes (Apple TV), among others. The iPhone makes up the majority of Apple's total revenue. In addition, Apple offers its customers a variety of services such as Apple Music, iCloud, Apple Care, Apple TV+, Apple Arcade, Apple Card, and Apple Pay, among others. Apple's products run internally developed software and semiconductors, and the firm is well known for its integration of hardware, software and services. Apple's products are distributed online as well as through company-owned stores and third-party retailers. The company generates roughly 40% of its revenue from the Americas, with the remainder earned internationally.

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