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Philip Morris International Earnings Yield (Joel Greenblatt) %

: 7.19% (As of Jun. 2022)
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Philip Morris International's Enterprise Value for the quarter that ended in Jun. 2022 was $177,862 Mil. Philip Morris International's EBIT for the trailing twelve months (TTM) ended in Jun. 2022 was $12,796 Mil. Philip Morris International's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2022 was 7.19%.

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

PM' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.02   Med: 7.48   Max: 10.59
Current: 7.3

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Philip Morris International was 10.59%. The lowest was 5.02%. And the median was 7.48%.

PM's Earnings Yield (Joel Greenblatt) % is ranked worse than
61.22% of 49 companies
in the Tobacco Products industry
Industry Median: 8.59 vs PM: 7.30

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) %. Philip Morris International's Forward Rate of Return (Yacktman) % for the quarter that ended in Jun. 2022 was 8.66%. 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.


Philip Morris International Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Philip Morris International'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.

Philip Morris International 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 6.09 8.82 6.73 7.53 7.52

Philip Morris International 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 7.04 7.42 7.52 7.46 7.19

Competitive Comparison

For the Tobacco subindustry, Philip Morris International'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.

   

Philip Morris International Earnings Yield (Joel Greenblatt) % Distribution

For the Tobacco Products industry and Consumer Defensive sector, Philip Morris International's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

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



Philip Morris International 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.

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

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=12969/172474.15
=7.52 %

Philip Morris International'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 $12,796 Mil.



Philip Morris International  (NYSE:PM) 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.


Philip Morris International Earnings Yield (Joel Greenblatt) % Related Terms

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


Philip Morris International Business Description

Philip Morris International logo
Address
120 Park Avenue, New York, NY, USA, 10017
Philip Morris International is a leading international tobacco company engaged in the manufacture and sale of cigarettes and other nicotine-containing products in markets outside the United States. Through multidisciplinary capabilities in product development, state-of-the-art facilities, and scientific substantiation, the company aims to ensure that its smoke-free products meet adult consumer preferences and rigorous regulatory requirements. Management's vision is that these products ultimately replace cigarettes.
Executives
Temperley Dessislava director CIMPRESS PLC BUILDING D, XEROX TECHNOLOGY PARK DUNDALK, COUNTY LOUTH L2 A91 H9N9
Dobrowolski Reginaldo officer: Vice President and Controller 120 PARK AVENUE NEW YORK NY 10017
Daboub Juan J. director 5100 W. 115TH PLACE LEAWOOD KS 66211
Yanai Shlomo director ONE MEADOWLANDS PLAZA EAST RUTHERFORD NJ 07073
Bough Bonin director 120 PARK AVENUE NEW YORK NY 10017
Insuasty Jorge officer: Chief Life Sciences Officer 120 PARK AVENUE NEW YORI NY 10017
Combes Michel director 101 WEST 24TH STREET NEW YORK NY 10011
Noto Lucio A director C/O PHILIP MORRIS INTERNATIONAL INC. 120 PARK AVENUE NEW YORK NY 10017
Makihara Jun director C/O MONEX GROUP, INC. 1-11-1, MARUNOUCHI, CHIYODA-KU TOKYO M0 100-6219
Verdeaux Gregoire officer: Sr. VP External Affairs 120 PARK AVENUE NEW YORK NY 10017
Folsom Suzanne R officer: Sr VP & General Counsel C/O PHILIP MORRIS INTERNATIONAL INC. 120 PARK AVENUE NEW YORK NY 10017
Babeau Emmanuel officer: Chief Financial Officer 120 PARK AVENUE NEW YORK NY 10017
Muenster Silke officer: Chief Diversity Officer 120 PARK AVENUE NEW YORK NY 10017
Li Bin officer: Chief Product Officer 120 PARK AVENUE NEW YORK NY 10017
Volpetti Stefano officer: Chief Consumer Officer 120 PARK AVENUE NEW YORK NY 10017

Philip Morris International Headlines

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