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Qorvo (NAS:QRVO) Earnings Yield (Joel Greenblatt) %

: -0.72% (As of Dec. 2023)
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Qorvo's Enterprise Value for the quarter that ended in Dec. 2023 was $11,846 Mil. Qorvo's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $-86 Mil. Qorvo's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was -0.72%.

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

QRVO' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -1.86   Med: 1.38   Max: 10.88
Current: -0.72

During the past 11 years, the highest Earnings Yield (Joel Greenblatt) of Qorvo was 10.88%. The lowest was -1.86%. And the median was 1.38%.

QRVO's Earnings Yield (Joel Greenblatt) % is ranked worse than
71.59% of 989 companies
in the Semiconductors industry
Industry Median: 2.1 vs QRVO: -0.72

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) %. Qorvo's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was -1.12%. 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.


Qorvo Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Qorvo'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.

Qorvo Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Earnings Yield (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.55 4.51 4.22 8.73 1.71

Qorvo Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 6.27 1.71 0.55 -0.42 -0.72

Competitive Comparison

For the Semiconductors subindustry, Qorvo'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.


Qorvo Earnings Yield (Joel Greenblatt) % Distribution

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

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



Qorvo 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.

Qorvos Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Mar. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=193.092/11259.09493
=1.71 %

Qorvo'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 $-86 Mil.



Qorvo  (NAS:QRVO) 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.


Qorvo Earnings Yield (Joel Greenblatt) % Related Terms

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


Qorvo (NAS:QRVO) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Qorvo Inc (NAS:QRVO) » Definitions » Earnings Yield (Joel Greenblatt) %
Traded in Other Exchanges
Address
7628 Thorndike Road, Greensboro, NC, USA, 27409-9421
Qorvo represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged in January 2015. The company specializes in radio frequency filters, power amplifiers, and front-end modules used in many of the world's most advanced smartphones. Qorvo also has a suite of products sold into a variety of nonsmartphone end markets, such as wireless base stations, cable TV and networking equipment, and infrastructure and military applications.
Executives
Steven E Creviston officer: VP and Pres. Mobile Products
Gina Harrison officer: VP and Corporate Controller 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Philip Chesley officer: Pres. Infra & Defense 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Walden C Rhines director C/O TRIQUINT SEMICONDUCTOR INC, 2300 NE BROOKWOOD PKWY, HILLSBORO OR 97124
Paul J Fego officer: VP, Global Operations 15 SECOR ROAD, PO BOX 5226, BROOKFIELD CT 06804
Frank P. Stewart officer: SVP, Advanced Cellular 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Roderick Nelson director 2300 NE BROOKWOOD PARKWAY, HILLSBORO OR 97124
Robert A Bruggeworth director, officer: President and CEO C/O RF MICRO DEVICES, INC., 7628 THORNDIKE ROAD, GREENSBORO NC 27409
John R Harding director C/O MARIMBA INC, 440 CLYDE AVENUE, MOUNTAINVIEW CA 94043
Grant Brown officer: SVP & Chief Financial Officer 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Jeffery R Gardner director ONE ALLIED DRIVE, LITTLE ROCK AR 72202
James L Klein officer: VP and Pres. Infra. & Defense 2300NE BROOKWOOD PKWY, HILLSBORO OR 97124
Susan Louise Spradley director C/O NORTEL NETWORKS, 8200 DIXIE ROAD STE 100, BRAMPTON ONTARIO A6 L6T 5PT
Walter H Wilkinson director C/O RF MICRO DEVICES, INC., 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Mark J. Murphy officer: Chief Financial Officer DELPHI AUTOMOTIVE PLC, 5725 DELPHI DRIVE, TROY MI 48098