What is Assured Guaranty Earnings Yield (Joel Greenblatt) %?
Assured Guaranty's Enterprise Value for the quarter that ended in Dec. 2023 was $5,856 Mil.
Assured Guaranty's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $758 Mil. Assured Guaranty's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 12.94%.
The historical rank and industry rank for Assured Guaranty's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
AGO'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 4.12 Med: 13.76 Max: 41.29
Current: 12.74
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Assured Guaranty was 41.29%. The lowest was 4.12%. And the median was 13.76%.
AGO's Earnings Yield (Joel Greenblatt) % is ranked better than 69.04% of 491
companies
in the Insurance industry
Industry Median: 5.58
vs AGO: 12.74
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) %. Assured Guaranty's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was -8.00%. 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.
Assured Guaranty Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Assured Guaranty'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.
Competitive Comparison of Assured Guaranty's Earnings Yield (Joel Greenblatt) %
For the Insurance - Specialty subindustry, Assured Guaranty'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.
Assured Guaranty's Earnings Yield (Joel Greenblatt) % Distribution in the Insurance Industry
For the Insurance industry and Financial Services sector, Assured Guaranty's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Assured Guaranty'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.
Assured Guarantys Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Assured Guaranty'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 $758 Mil.
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.
Assured Guaranty Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Assured Guaranty's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Assured Guaranty (Assured Guaranty) Business Description
Assured Guaranty Ltd. provides credit protection products to the United States and international public finance and structured finance markets, and manages assets across collateralized loan obligations as well as opportunity funds and liquid strategy funds that build on its corporate credit, asset-based finance, municipal and healthcare experience. The company is operating in two segments Insurance segment and the Asset Management segment. The majority of the revenue earned by the company is from the Insurance segment.
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