What is Franklin Resources Earnings Yield (Joel Greenblatt) %?
Franklin Resources's Enterprise Value for the quarter that ended in Dec. 2023 was $24,325 Mil.
Franklin Resources's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $1,629 Mil. Franklin Resources's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 6.70%.
The historical rank and industry rank for Franklin Resources's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
BEN'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.55 Med: 13.12 Max: 35.03
Current: 7.68
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Franklin Resources was 35.03%. The lowest was 5.55%. And the median was 13.12%.
BEN's Earnings Yield (Joel Greenblatt) % is ranked better than 85.14% of 1716
companies
in the Asset Management industry
Industry Median: 0
vs BEN: 7.68
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) %. Franklin Resources's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 12.51%. 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.
Franklin Resources Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Franklin Resources'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.
Franklin Resources Earnings Yield (Joel Greenblatt) % Chart
Competitive Comparison of Franklin Resources's Earnings Yield (Joel Greenblatt) %
For the Asset Management subindustry, Franklin Resources'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.
Franklin Resources's Earnings Yield (Joel Greenblatt) % Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, Franklin Resources's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Franklin Resources's Earnings Yield (Joel Greenblatt) % falls into.
Franklin Resources 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.
Franklin Resourcess Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Sep. 2023 is calculated as
Franklin Resources's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,629 Mil.
Franklin Resources (NYSE:BEN) 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.
Franklin Resources Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Franklin Resources's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Franklin Resources (Franklin Resources) Business Description
Franklin Resources provides investment services for individual and institutional investors. At the end of October 2023, Franklin had $1.335 trillion in managed assets, composed primarily of equity (31%), fixed-income (35%), multi-asset/balanced (11%) funds, alternatives (19%) and money market funds (4%). Distribution tends to be weighted equally between retail investors (50% of AUM) and institutional accounts (48%), with high-net-worth clients accounting for the remainder. Franklin is one of the more global of the U.S.-based asset managers we cover, with more than a third of its assets under management invested in global/international strategies and 29% of managed assets sourced from clients domiciled outside the United States.
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