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Harvard Bioscience (Harvard Bioscience) Forward Rate of Return (Yacktman) %

: -10.23% (As of Dec. 2023)
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Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Harvard Bioscience's forward rate of return for was -10.23%.

The historical rank and industry rank for Harvard Bioscience's Forward Rate of Return (Yacktman) % or its related term are showing as below:

HBIO' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -37.88   Med: -6.96   Max: 16.89
Current: -9.31

During the past 13 years, Harvard Bioscience's highest Forward Rate of Return was 16.89. The lowest was -37.88. And the median was -6.96.

HBIO's Forward Rate of Return (Yacktman) % is ranked worse than
90% of 320 companies
in the Medical Devices & Instruments industry
Industry Median: 12.47 vs HBIO: -9.31

Unlike the Earnings Yield %, 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.


Harvard Bioscience Forward Rate of Return (Yacktman) % Historical Data

The historical data trend for Harvard Bioscience's Forward Rate of Return (Yacktman) % 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] => 10.33 [6] => - [7] => - [8] => - [9] => -10.23 )
Harvard Bioscience Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Forward Rate of Return (Yacktman) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.33 - - - -10.23

Harvard Bioscience Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Forward Rate of Return (Yacktman) % 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 Premium Member Only Premium Member Only Premium Member Only - - 16.25 -6.74 -10.23

Competitive Comparison

For the Medical Instruments & Supplies subindustry, Harvard Bioscience's Forward Rate of Return (Yacktman) %, along with its competitors' market caps and Forward Rate of Return (Yacktman) % 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.


Harvard Bioscience Forward Rate of Return (Yacktman) % Distribution

For the Medical Devices & Instruments industry and Healthcare sector, Harvard Bioscience's Forward Rate of Return (Yacktman) % distribution charts can be found below:

* The bar in red indicates where Harvard Bioscience's Forward Rate of Return (Yacktman) % falls into.



Harvard Bioscience Forward Rate of Return (Yacktman) % Calculation

Forward Rate of Return is a concept that Don Yacktman uses in his investment approach. Yacktman explained the forward rate of return concept in detail in his interview with GuruFocus. Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. He said in the interview (March 2012, when the S&P 500 was at about 1400):

If the business is stable, this calculation is fairly straightforward. For instance, on the S&P 500 we would normalize earnings. We would then calculate what percentage of those earnings are not reinvested in the underlying businesses and are therefore free. Historically, for the S&P 500, this has been just under 50% of earnings. Currently, we expect the S&P to earn about 70 on a normalized basis, a number which is far below reported earnings due to our adjusting for record high profit margins. $70 X ½ / 1400 gives you a normalized free cash flow yield of approximately 2.5%.

The historical real growth rate of the S&P 500 (companies) is about 1.5%. Assuming an inflation rate of 2.5%, the forward rate of return on an investment in the S&P 500 is about 6.5% today (2.5% free cash flow yield plus 1.5% real growth plus 2.5% inflation).

Harvard Bioscience's Forward Rate of Return of Dec. 2023 is

Forward Rate of Return=Normalized Free Cash Flow/Price+5-Year EBITDA Growth Rate
=0.13657143/5.35+-0.1278
=-10.23 %

* 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.


Harvard Bioscience  (NAS:HBIO) Forward Rate of Return (Yacktman) % Explanation

Unlike the Earnings Yield, the Forward Rate of Return uses the normalized Free Cash Flow of the past five 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.

For the growth part of the Forward Rate of Return calculation, GuruFocus uses the 5-year average growth rate of EBITDA per share as the growth rate, and the growth rate is always capped at 20%. For the Free Cash Flow we use per share data averaged over five years. The reason we use five years is to make it comparable to the growth rate.


Be Aware

In the Forward Rate of Return calculation, the growth rate is added directly to today's free cash flow yield. Therefore the calculation is reliable only if the company can grow at the same rate in the future as it did in the past. Investors should pay close attention to this when researching growth stocks. A more accurate measurement for return is Return on Capital.


Harvard Bioscience Forward Rate of Return (Yacktman) % Related Terms

Thank you for viewing the detailed overview of Harvard Bioscience's Forward Rate of Return (Yacktman) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Harvard Bioscience (Harvard Bioscience) Business Description

Traded in Other Exchanges
Address
84 October Hill Road, Holliston, MA, USA, 01746
Harvard Bioscience Inc is a developer, manufacturer, and seller of technologies, specialized products and services that enable fundamental research, discovery, and pre-clinical testing for drug development. Its primary focus is scientific instruments used to advance life science and research. With operations in North America, Europe and china it sells through a combination of direct and distribution channels to customers around the world. The product brands of the company include Harvard Apparatus, DSI, Buxco, Biochrom, BTX, Heka, Hugo Sachs, Multichannel Systems MCS GmbH, and Panlab.. The majority of its revenue comes from the United States.
Executives
James W Green director, officer: Chief Executive Officer 12525 CHADRON AVENUE, HAWTHORNE CA 90250
Alan I Edrick director 20200 SUNBURST STREET, CHATSWORTH CA 91311
Jennifer Cote officer: Interim CFO C/O HARVARD BIOSCIENCE, INC., 84 OCTOBER HILL ROAD, HOLLISTON MA 01746
Bertrand Loy director C/O ENTEGRIS, INC., 129 CONCORD RD, BILLERICA MA 01821
Thomas W Loewald director 81 WYMAN STREET, WALTHAM MA 02451
John F Kennedy director C/O NET PERCEPTIONS INC, 7700 FRANCE AVE. SOUTH, EDINA MN 55435
Katherine A. Eade director C/O HARVARD BIOSCIENCE, INC., 84 OCTOBER HILL ROAD #10, HOLLISTON MA 01746
Susan M. Steele director C/O HILL INTERNATIONAL, INC., 2005 MARKET ST., 17TH FLOOR, PHILADELPHIA PA 19103
Kenneth Fletcher Olson officer: Chief Operating Officer C/O HARVARD BIOSCIENCE, INC., 84 OCTOBER HILL ROAD #10, HOLLISTON MA 01746
Michael A. Rossi officer: Chief Financial Officer C/O HARVARD BIOSCIENCE, INC., 84 OCTOBER HILL ROAD #10, HOLLISTON MA 01746
Yash Singh officer: Executive Vice President C/O HARVARD BIOSCIENCE, INC., 84 OCTOBER HILL ROAD #10, HOLLISTON MA 01746
Jeffrey Duchemin officer: Chief Executive Officer 14 EASTLAND TERRACE, HAVERHILL MA 01830
Kamalam Unninayar officer: Chief Financial Officer C/O TETRAPHASE PHARMACEUTICALS, INC., 480 ARSENAL STREET, SUITE 110, WATERTOWN MA 02472
Robert E. Gagnon officer: Chief Financial Officer C/O BIOGEN IDEC INC., 133 BOSTON POST ROAD, WESTON MA 02493
George Uveges director C/O MFIC CORPORATION, 30 OSSIPEE ROAD, NEWTON MA 02464