Shareholder yield (Mebane Faber ) is the sum of the following:
Dividend yield +
Percentage of Shares Repurchased +
Net debt repaid yield
Net Debt Repaid Yield = Change in total debt / Market Value of the company)
It adds another ratio to Shareholder yield
The Mebane Faber shareholder yield thus adds net debt repaid to the normal Shareholder Yield (see other definition).
It can also be negative
Note that the Shareholder Yield can also be negative. This can happen as Percentage of Shares Repurchased and Net debt repaid yield can be negative if shares are issued and or debt increases.
How the numbers are measured (updated August 2026)
The dividend and buyback parts are built exactly like the standard Shareholder Yield: the buyback is measured from the company's actual share count today versus twelve months ago, then cross-checked against the cash reported in the cash-flow statement. The net-debt-repaid part compares total debt today with total debt a year ago, divided by the company's market value.
Financial companies — banks, insurers and real estate — are excluded from this ratio. For them debt is raw material rather than a burden, so paying it down does not carry the same meaning.
As with the standard Shareholder Yield, every figure is cross-checked against a second, independent source, and a cell is left blank when the sources disagree or a value is too extreme to trust.
Everything is refreshed nightly, and for back-tests the buyback and debt parts are re-counted for each historical date using the same safeguards.
How to use the ratio
The larger the value the better - or the more cash the company returned to debt and shareholders.
Available as a screening ratio: Yes - the ratio is called Shareholder Yield (MB)
Available as an output column ratio: Yes - Look in the Valuation tab
How to select companies with the best Shareholder Yield (MB)
To find companies with the best Shareholder Yield (Mebane Faber) set the slider from 0% to 10%.
To find companies with the worse Shareholder Yield (Mebane Faber) set the slider from 90% to 100%.
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