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PRG (PROG Holdings) Earnings Yield (Joel Greenblatt) % : 7.76% (As of Sep. 2024)


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What is PROG Holdings Earnings Yield (Joel Greenblatt) %?

PROG Holdings's Enterprise Value for the quarter that ended in Sep. 2024 was $2,398 Mil. PROG Holdings's EBIT for the trailing twelve months (TTM) ended in Sep. 2024 was $186 Mil. PROG Holdings's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2024 was 7.76%.

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

PRG' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 0.02   Med: 9.46   Max: 20.16
Current: 8.43

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of PROG Holdings was 20.16%. The lowest was 0.02%. And the median was 9.46%.

PRG's Earnings Yield (Joel Greenblatt) % is ranked better than
65.68% of 1110 companies
in the Business Services industry
Industry Median: 5.645 vs PRG: 8.43

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) %. PROG Holdings's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2024 was 28.99%. 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.


PROG Holdings Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for PROG Holdings'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.

PROG Holdings Earnings Yield (Joel Greenblatt) % Chart

PROG Holdings Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.86 7.36 11.15 14.37 12.52

PROG Holdings Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 14.39 12.52 10.65 10.55 7.76

Competitive Comparison of PROG Holdings's Earnings Yield (Joel Greenblatt) %

For the Rental & Leasing Services subindustry, PROG Holdings'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.


PROG Holdings's Earnings Yield (Joel Greenblatt) % Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, PROG Holdings's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

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



PROG Holdings 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.

PROG Holdingss Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=225.627/1802.664431
=12.52 %

PROG Holdings's EBIT for the trailing twelve months (TTM) ended in Sep. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $186 Mil.



PROG Holdings  (NYSE:PRG) 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.


PROG Holdings Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of PROG Holdings's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


PROG Holdings Business Description

Industry
Traded in Other Exchanges
Address
256 West Data Drive, Draper, UT, USA, 84020-2315
PROG Holdings Inc is a financial technology holding company that provides transparent and competitive payment options to consumers. The Company has two reportable segments: (i) Progressive Leasing, an in-store, app-based, and e-commerce point-of-sale lease-to-own solutions provider; and (ii) Vive Financial (Vive), an omnichannel provider of second-look revolving credit products. The majority of the revenue of the company is earned through the progressive leasing segment.
Executives
Michael Todd King officer: Chief Legal and Compliance Off 256 WEST DATA DRIVE, DRAPER UT 84020
Thomas Eugene Vin Iv officer: General Counsel and Corp Sec 632 NORTH TARA COURT, WHICHITA KS 67206
Brian Garner officer: Chief Financial Officer 256 WEST DATA DR, DRAPER UT 84020
Curtis Linn Doman director, officer: Chief Innovation Officer-PROG 256 DATA DR, DRAPER UT 84020
Steven A Michaels director, officer: CEO 256 DATA DR, DRAPER UT 84020
Ramon Michael Martinez director 256 WEST DATA DRIVE, DRAPER UT 84020
Caroline Sio-chin Sheu director 256 WEST DATA DRIVE, DRAPER UT 84020
Douglas C Curling director 1000 ALDERMAN DRIVE, ALPHARETTA GA 30005
Ray M Robinson director 1170 PEACHTREE STREET NE, SUITE 2300, ATLANTA GA 30309
Kathy T Betty director 309 E. PACES FERRY ROAD, ATLANTA GA 30305
Cynthia N Day director 75 PIEDMONT AVE, ATLANTA GA 30303
James P. Smith director 256 WEST DATA DRIVE, DRAPER UT 84020
George M Sewell officer: Principal Acct Off, VP Fin Rep 256 WEST DATA DR, DRAPER UT 84020
Blake Wakefield officer: President, Chief Revenue Off 256 WEST DATA DR, DRAPER UT 84020
Marvin A Fentress officer: General Counsel, Corp Sec 256 WEST DATA DR, DRAPER UT 84020