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PulteGroup's Enterprise Value for the quarter that ended in Mar. 2024 was $25,610 Mil. PulteGroup's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 was $3,616 Mil. PulteGroup's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2024 was 14.12%.
The historical rank and industry rank for PulteGroup's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of PulteGroup was 29.16%. The lowest was 3.06%. And the median was 11.14%.
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) %. PulteGroup's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2024 was 24.21%. 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.
The historical data trend for PulteGroup'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.
PulteGroup Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Earnings Yield (Joel Greenblatt) % | Get a 7-Day Free Trial | 11.22 | 14.95 | 17.57 | 30.49 | 15.55 |
PulteGroup Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Earnings Yield (Joel Greenblatt) % | Get a 7-Day Free Trial | 25.84 | 21.01 | 22.73 | 15.55 | 14.12 |
For the Residential Construction subindustry, PulteGroup'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.
For the Homebuilding & Construction industry and Consumer Cyclical sector, PulteGroup's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where PulteGroup's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
PulteGroups Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Earnings Yield (Joel Greenblatt) | = | EBIT | / | Enterprise Value |
= | 3449.736 | / | 22170.98876 | |
= | 15.56 % |
PulteGroup's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $3,616 Mil.
PulteGroup (NYSE:PHM) 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.
Thank you for viewing the detailed overview of PulteGroup's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Lila Snyder | director | 3001, SUMMER STREET, STAMFORD CT 06926 |
Kevin A Henry | officer: EVP and Chief People Officer | 13024 BALLANTYNE CORPORATE PLACE, HARRIS BUILDING, SUITE 900, CHARLOTTE NC 28277 |
Matthew William Koart | officer: Exec. VP & COO | 3350 PEACHTREE ROAD NE, SUITE 1500, ATLANTA GA 30326 |
Robert Oshaughnessy | officer: Exec. VP & CFO | 2555 TELEGRAPH RD., BLOOMFIELD HILLS MI 48302 |
Brian P Anderson | director | C/O PULTE HOMES, INC., 100 BLOOMFIELD HILLS PKWY #300, BLOOMFIELD HILLS MI 48304 |
Ryan Marshall | officer: Area President | 24311 WALDEN CENTER DR, STE 300, BONITA SPRINGS FL 34134 |
John James Chadwick | officer: Area President | 3350 PEACHTREE ROAD NORTHEAST, SUITE 150, ATLANTA GA 30326 |
Brien P. O'meara | officer: Vice President & Controller | 3350 PEACHTREE ROAD, N.E., SUITE 150, ATLANTA GA 30326 |
James Phillip Holloman | director | P.O. BOX 625737, 6800 CINTAS BOULEVARD, CINCINNATI OH 45262 |
Todd N Sheldon | officer: EVP, Gen Counsel, Corp Sec'y | 3350 PEACHTREE ROAD NORTHEAST, SUITE 150, ATLANTA GA 30326 |
Stephen P Schlageter | other: Area President | 3350 PEACHTREE ROAD NORTHEAST, SUITE 150, ATLANTA GA 30326 |
Bill Pulte | director | 321 N. CLARK STREET, SUITE #500, CHICAGO IL 60654 |
Bryce Blair | director | |
James L Ossowski | officer: VP Finance & Controller | 100 BLOOMFIELD HILLS PKWY, STE 300, BLOOMFIELD HILLS MI 48304 |
Michelle H. Hairston | officer: Senior Vice President - HR | 2308 WEST MORELAND STREET, FALLS CHURCH VA 22046 |
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