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Taylor Morrison Home's Enterprise Value for the quarter that ended in Mar. 2024 was $8,232 Mil. Taylor Morrison Home's EBIT for the trailing twelve months (TTM) ended in Mar. 2024 was $1,091 Mil. Taylor Morrison Home's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2024 was 13.25%.
The historical rank and industry rank for Taylor Morrison Home'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 Taylor Morrison Home was 26.91%. The lowest was 2.66%. And the median was 7.34%.
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) %. Taylor Morrison Home's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2024 was 29.17%. 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 Taylor Morrison Home'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.
Taylor Morrison Home Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Earnings Yield (Joel Greenblatt) % | Get a 7-Day Free Trial | 8.39 | 8.01 | 12.80 | 28.09 | 15.43 |
Taylor Morrison Home 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 | 25.51 | 21.10 | 19.92 | 15.43 | 13.25 |
For the Residential Construction subindustry, Taylor Morrison Home'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, Taylor Morrison Home's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Taylor Morrison Home'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.
Taylor Morrison Homes Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Earnings Yield (Joel Greenblatt) | = | EBIT | / | Enterprise Value |
= | 1084.366 | / | 7024.9533 | |
= | 15.44 % |
Taylor Morrison Home'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 $1,091 Mil.
Taylor Morrison Home (NYSE:TMHC) 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 Taylor Morrison Home's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
William H Lyon | director | C/O TAYLOR MORRISON HOME CORP., 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251 |
Sheryl Palmer | officer: President and CEO | 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251 |
Darrell Sherman | officer: EVP, CLO & Secretary | 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251 |
Joseph Terracciano | officer: Chief Accounting Officer | 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251 |
Curtis Vanhyfte | officer: Interim CFO | 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251 |
Louis Steffens | officer: EVP and CFO | 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251 |
David C Merritt | director | CHARTER COMMUNICATIONS INC, 12405 POWERSCOURT DRIVE, ST LOUIS MO 63131 |
Denise Warren | director | 209 REDWOOD SHORES PKWY, REDWOOD CITY CA 94065 |
C. David Cone | officer: Vice President and CFO | 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251 |
Christopher J. Yip | director | 301 COMMERCE STREET, FORT WORTH TX 76102 |
Gary H Hunt | director | C/O WILLIAM LYON HOMES, 4695 MACARTHUR COURT, 8TH FLOOR, NEWPORT BEACH CA 92660 |
Peter R. Lane | director | 1500 SOLANA BOULEVARD, BUILDING 4, SUITE 4500, SOUTHLAKE TX 76092 |
Jeffry L. Flake | director | C/O 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251 |
Andi Owen | director | 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251 |
Tpg Group Holdings (sbs) Advisors, Inc. | 10 percent owner | C/O TPG GLOBAL, LLC, 301 COMMERCE STREET, SUITE 3300, FORT WORTH TX 76102 |
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