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Macy's Earnings Yield (Joel Greenblatt) %

: 19.76% (As of Apr. 2022)
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Macy's's Enterprise Value for the quarter that ended in Apr. 2022 was $11,871 Mil. Macy's's EBIT for the trailing twelve months (TTM) ended in Apr. 2022 was $2,346 Mil. Macy's's Earnings Yield (Joel Greenblatt) for the quarter that ended in Apr. 2022 was 19.76%.

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

M' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -49.08   Med: 10.77   Max: 23.04
Current: 22.08

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Macy's was 23.04%. The lowest was -49.08%. And the median was 10.77%.

M's Earnings Yield (Joel Greenblatt) % is ranked better than
91.62% of 1122 companies
in the Retail - Cyclical industry
Industry Median: 5.21 vs M: 22.08

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) %. Macy's's Forward Rate of Return (Yacktman) % for the quarter that ended in Apr. 2022 was 0.00%. 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.


Macy's Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Macy's'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.

Macy's Annual Data
Trend Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 14.75 14.25 8.00 -39.84 16.86

Macy's Quarterly Data
Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22
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 -1.53 9.13 10.60 16.86 19.76

Competitive Comparison

For the Department Stores subindustry, Macy's'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.

   

Macy's Earnings Yield (Joel Greenblatt) % Distribution

For the Retail - Cyclical industry and Consumer Cyclical sector, Macy's's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

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



Macy's 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.

Macy'ss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Jan. 2022 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=2125/12599.44
=16.87 %

Macy's's EBIT for the trailing twelve months (TTM) ended in Apr. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,346 Mil.



Macy's  (NYSE:M) 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.


Macy's Earnings Yield (Joel Greenblatt) % Related Terms

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


Macy's Business Description

Macy's logo
Industry
Address
151 West 34th Street, New York, NY, USA, 10001
Founded in 1858 and based in New York City, Macy's operates 570 stores under the Macy's nameplate, 58 stores under the Bloomingdale's nameplate, and 160 freestanding Bluemercury specialty beauty stores (as of the end of fiscal-year 2021). Macy's also operates e-commerce sites and licenses two Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances comprised 59% of Macy's 2021 sales.
Executives
Granoff Jill director LIZ CLAIBORNE, INC. 1441 BROADWAY NEW YORK NY 10018
Chandoha Marie A director C/O THE CHARLES SCHWAB CORPORATION 211 MAIN STREET SAN FRANCISCO CA 94105
Zhen Tracey director C/O MACY'S, INC. 145 PROGRESS PLACE SPRINGDALE OH 45246
Buchanan Ashley director C/O THE MICHAELS COMPANIES, INC. 8000 BENT BRANCH DRIVE IRVING TX 75063
Mitchell Adrian V officer: Chief Financial Officer C/O MACY'S, INC. 151 WEST 34TH STREET NEW YORK NY 10001
Griscom Paul officer: Interim Principal Acctg. Offr. C/O MACY'S, INC. 145 PROGRESS PLACE SPRINGDALE OH 45246
Harper John T. officer: Chief Operations Officer C/O MACY'S, INC. 151 WEST 34TH STREET NEW YORK NY 10001
Boone Torrence director 3308 N MITTHOEFFER INDIANAPOLIS IN 46235
Abney David P director 55 GLENLAKE PARWAY, NE ATLANTA GA 30328
Price Paula A officer: Chief Financial Officer ONE CVS DRIVE WOONSOCKET RI 02895
Kirgan Danielle L. officer: Chief Human Resources Officer C/O MACY'S, INC. 151 WEST 34TH STREET NEW YORK NY 10001
Lawton Iii Harry A officer: President C/O EBAY INC. 2065 SAN JOSE CA 95125
Spring Antony officer: Chairman & CEO, Bloomingdale's C/O MACY'S, INC. 7 WEST SEVENTH STREET CINCINNATI OH 45202
Lennox Richard A officer: Chief Marketing Officer C/O MACYS, INC. 7 WEST SEVENTH STREET CINCINNATI OH 45202
Garcia C Elisa D officer: Chief Legal Officer 151 WEST 34TH STREET NEW YORK NY 10001

Macy's Headlines

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