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Chevron Earnings Yield (Joel Greenblatt) %

: 13.64% (As of Jun. 2022)
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Chevron's Enterprise Value for the quarter that ended in Jun. 2022 was $298,270 Mil. Chevron's EBIT for the trailing twelve months (TTM) ended in Jun. 2022 was $40,691 Mil. Chevron's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2022 was 13.64%.

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

CVX' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -9.06   Med: 8.01   Max: 23.89
Current: 13.79

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Chevron was 23.89%. The lowest was -9.06%. And the median was 8.01%.

CVX's Earnings Yield (Joel Greenblatt) % is ranked better than
70.32% of 1105 companies
in the Oil & Gas industry
Industry Median: 5.70 vs CVX: 13.79

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) %. Chevron's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2022 was 5.08%. 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.


Chevron Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Chevron'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.

Chevron 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 3.48 9.18 2.54 -3.34 8.83

Chevron 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 2.66 6.35 8.83 8.62 13.64

Competitive Comparison

For the Oil & Gas Integrated subindustry, Chevron'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.

   

Chevron Earnings Yield (Joel Greenblatt) % Distribution

For the Oil & Gas industry and Energy sector, Chevron's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

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



Chevron 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.

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

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=22351/253030.2035
=8.83 %

Chevron'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 $40,691 Mil.



Chevron  (NYSE:CVX) 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.


Chevron Earnings Yield (Joel Greenblatt) % Related Terms

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


Chevron Business Description

Chevron logo
Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Chevron Corp (NYSE:CVX) » Definitions » Earnings Yield (Joel Greenblatt) %
Address
6001 Bollinger Canyon Road, San Ramon, CA, USA, 94583-2324
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second- largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the U.S. and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2021 stood at 11.3 billion barrels of oil equivalent, including 6.1 billion barrels of liquids and 30.9 trillion cubic feet of natural gas.
Executives
Bonner Eimear P officer: Vice President 6001 BOLLINGER CANYON ROAD SAN RAMON CA 94583
Hewson Marillyn A director C/O CARPENTER TECHNOLOGY CORPORATION PO BOX 14662 READING PA 19612-4662
Inchausti David A officer: Vice Pres. and Comptroller 6001 BOLLINGER CANYON ROAD SAN RAMON CA 94583
Parfitt Colin E officer: Vice President 6001 BOLLINGER CANYON ROAD SAN RAMON CA 94583
Morris Rhonda J officer: Vice President 6001 BOLLINGER CANYON ROAD SAN RAMON CA 94583
Reed Debra L director 488 8TH AVENUE SAN DIEGO CA 92101
Umpleby Iii Donald J director 510 LAKE COOK ROAD SUITE 100 DEERFIELD IL 60015
Nelson Mark A officer: Vice President 6001 BOLLINGER CANYON ROAD SAN RAMON CA 94583
Frank John director C/O OAKTREE CAPITAL MANAGEMENT 333 SOUTH GRAND 28TH FLOOR LOS ANGELES CA 90071
Austin Wanda M director 6001 BOLLINGER CANYON ROAD SAN RAMON CA 94583
Moyo Dambisa F director 10200 S. DEANZA BOULEVARD CUPERTINO CA 95014
Ourada Jeanette L officer: Vice Pres. and Comptroller 6001 BOLLINGER CANYON ROAD SAN RAMON CA 94583
Thulin Inge G director 1250 5TH AVENUE SOUTH NAPLES FL 34102
Cummings Alexander B Jr director
Huntsman Jon M Jr director 500 HUNTSMAN WAY SALT LAKE CITY UT 84108

Chevron Headlines

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