Deere's Enterprise Value for the quarter that ended in Jan. 2024 was $166,846 Mil.
Deere's EBIT for the trailing twelve months (TTM) ended in Jan. 2024 was $15,518 Mil. Deere's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jan. 2024 was 9.30%.
The historical rank and industry rank for Deere's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
DE'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 3.78 Med: 5.86 Max: 10.3
Current: 9.25
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Deere was 10.30%. The lowest was 3.78%. And the median was 5.86%.
DE's Earnings Yield (Joel Greenblatt) % is ranked better than 62.38% of 210
companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 6.98
vs DE: 9.25
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) %. Deere's Forward Rate of Return (Yacktman) % for the quarter that ended in Jan. 2024 was 22.10%. 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.
Deere Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Deere'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.
Deere Annual Data
Trend
Oct14
Oct15
Oct16
Oct17
Oct18
Oct19
Oct20
Oct21
Oct22
Oct23
Earnings Yield (Joel Greenblatt) %
5.82
4.69
5.91
6.17
9.78
Deere Quarterly Data
Apr19
Jul19
Oct19
Jan20
Apr20
Jul20
Oct20
Jan21
Apr21
Jul21
Oct21
Jan22
Apr22
Jul22
Oct22
Jan23
Apr23
Jul23
Oct23
Jan24
Earnings Yield (Joel Greenblatt) %
6.73
8.24
8.32
9.78
9.30
Competitive Comparison
For the Farm & Heavy Construction Machinery subindustry, Deere'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.
Deere Earnings Yield (Joel Greenblatt) % Distribution
For the Farm & Heavy Construction Machinery industry and Industrials sector, Deere's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Deere'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.
Deeres Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Oct. 2023 is calculated as
Deere's EBIT for the trailing twelve months (TTM) ended in Jan. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $15,518 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.
Deere Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Deere's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry. The company is divided into four reportable segments: production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital. Its products are available through an extensive dealer network, which includes over 2,000 dealer locations in North America and approximately 3,700 locations globally. John Deere Capital provides retail financing for machinery to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Deere product sales.
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