Medtronic (Medtronic) Earnings Yield (Joel Greenblatt) %

: 4.67% (As of Jan. 2024)

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Medtronic's Enterprise Value for the quarter that ended in Jan. 2024 was $133,463 Mil. Medtronic's EBIT for the trailing twelve months (TTM) ended in Jan. 2024 was $6,235 Mil. Medtronic's Earnings Yield (Joel Greenblatt) for the quarter that ended in Jan. 2024 was 4.67%.

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

MDT' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.8 Med: 4.42 Max: 9.6
Current: 5.11

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Medtronic was 9.60%. The lowest was 1.80%. And the median was 4.42%.

MDT's Earnings Yield (Joel Greenblatt) % is ranked better than
75.59% of 848 companies
in the Medical Devices & Instruments industry
Industry Median: 0.19 vs MDT: 5.11

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) %. Medtronic's Forward Rate of Return (Yacktman) % for the quarter that ended in Jan. 2024 was 5.33%. 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.

Medtronic Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Medtronic'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.

Array ( [0] => - [1] => - [2] => - [3] => - [4] => - [5] => 4.93 [6] => 3.55 [7] => 2.51 [8] => 3.98 [9] => 4.36 )

Medtronic Annual Data

Trend

Apr14

Apr15

Apr16

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Apr23

Earnings Yield (Joel Greenblatt) %

4.93

3.55

2.51

3.98

4.36

Medtronic 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) %																4.68	4.36	4.58	5.49	4.67

Competitive Comparison

For the Medical Devices subindustry, Medtronic'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.

Medtronic Earnings Yield (Joel Greenblatt) % Distribution

For the Medical Devices & Instruments industry and Healthcare sector, Medtronic's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

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

Medtronic 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.

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

Earnings Yield (Joel Greenblatt)	=	EBIT	/	Enterprise Value
	=	6000	/	137624.1695
	=	4.36 %

Medtronic'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 $6,235 Mil.

Medtronic (NYSE:MDT) 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

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.

Medtronic Earnings Yield (Joel Greenblatt) % Related Terms

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Medtronic (Medtronic) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Medtronic PLC (NYSE:MDT) » Definitions » Earnings Yield (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

MDTN:Mexico 1MDT:Italy 2M6:Germany 2M6:Germany 2M6:Germany 2M6:Germany MDTC34:Brazil MDT:Austria MDT:Argentina

Address

Lower Hatch Street, 20 On Hatch, Dublin, IRL, 2

Website

https://www.medtronic.com

One of the largest medical-device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for roughly 50% of the company's total sales.

Executives

Brett A. Wall	officer: EVP & Group Pres Restora Thera	710 MEDTRONIC PARKWAY, LC300, MINNEAPOLIS MN 55432
Gregory L Smith	officer: EVP Global Ops & Supply Chain	710 MEDTRONIC PARKWAY, LC300, MINNEAPOLIS MN 55432
Michael Marinaro	officer: EVP & President, Surgical OU	710 MEDTRONIC PARKWAY NE, LC300, MINNEAPOLIS MN 55432
Hoedt Rob Ten	officer: EVP & President EMEAC	710 MEDTRONIC PKWY, MSLC300, MINNEAPOLIS MN 55432
Gregory P Lewis	director	C/O HONEYWELL INTERNATIONAL INC., 300 SOUTH TRYON STREET, CHARLOTTE NC 28202
Sean Salmon	officer: EVP & Group President Diabetes	MEDTRONIC PLC, 710 MEDTRONIC PARKWAY, LC300, MINNEAPOLIS MN 55432
Lidia Fonseca	director	358 SOUTH MAIN STREET, BURLINGTON NC 27215
Karen L Parkhill	officer: EVP & Chief Financial Officer	1717 MAIN STREET, MC 6402, DALLAS TX 75201
Ivan K Fong	officer: EVP GENERAL COUNSEL & SECR	3M CENTER, ST. PAUL MN 55144-1000
Robert John White	officer: EVP & President MITG	MEDTRONIC PLC, 710 MEDTRONIC PKWY MS LC300, MINNEAPOLIS MN 55432
Richard H Anderson	director	MEDTRONIC, INC, 710 MEDTRONIC PKWY, MS LC310, MINNEAPOLIS MN 55432-5604
Bradley E Lerman	officer: SVP General Counsel & Corp Sec	MEDTRONIC, INC., 710 MEDTRONIC PKWY MSLC300, MINNEAPOLIS MN 55432
Geoffrey Martha	officer: Sr VP, Strategy & Bus Dev	710 MEDTRONIC PKWAY, MS LC300, MINNEAPOLIS MN 55432
Jennifer M Kirk	officer: Chief Accounting Officer	5 GREENWAY PLAZA, SUITE 110, HOUSTON TX 77046
John R Liddicoat	officer: EVP & President of Americas	MEDTRONIC PLC, 710 MEDTRONIC PKWY, MS LC300, MINNEAPOLIS MN 55432