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Affiliated Managers GroupAMG -1.29%83 Forward Rate of Return (Yacktman) % is 16.85% as of Jun. 2026, which is 12% below its 10-year median of 19.19. GuruFocus rates AMG with a GF Score™ of 83/100 and a GF Value™ of $276.77 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,171 Asset Management companies, Affiliated Managers Group ranks better than 80.7% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Affiliated Managers Group's forward rate of return for was 16.85%.
The historical rank and industry rank for Affiliated Managers Group's Forward Rate of Return (Yacktman) % or its related term are showing as below:
AMG'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -1.19 Med: 19.19 Max: 38.01
Current: 16.14
During the past 13 years, Affiliated Managers Group's highest Forward Rate of Return was 38.01. The lowest was -1.19. And the median was 19.19.
AMG's Forward Rate of Return (Yacktman) % is ranked better than 80.7% of 1171
companies
in the Asset Management industry
Industry Median: 4.44
vs AMG: 16.14
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.
Affiliated Managers Group (NYSE:AMG) 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.
Affiliated Managers Group Forward Rate of Return (Yacktman) % Related Terms
Affiliated Managers Group Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Affiliated Managers Group'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.
Affiliated Managers Group Forward Rate of Return (Yacktman) % Chart
AMG vs MAAS, PDI, SEIC: Forward Rate of Return (Yacktman) % Comparison
For the Asset Management subindustry, Affiliated Managers Group'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.
Affiliated Managers Group Forward Rate of Return (Yacktman) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Affiliated Managers Group's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Affiliated Managers Group's Forward Rate of Return (Yacktman) % falls into.
Affiliated Managers Group 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).
* 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.
What does a Forward Rate of Return (Yacktman) % of 16.85% mean?
Affiliated Managers Group (AMG) has a Forward Rate of Return (Yacktman) % of 16.85% as of Jun. 2026. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Affiliated Managers Group and its competitors. This is 12% below median its historical median of 19.19. According to the industry distribution chart, Affiliated Managers Group ranks #226 out of 1171 companies in the Asset Management industry, placing it in the top 19.3%.
Is Affiliated Managers Group's Forward Rate of Return (Yacktman) % too high?
Affiliated Managers Group's current Forward Rate of Return (Yacktman) % of 16.85% is 12% below median its 10-year median of 19.19. The Asset Management industry median Forward Rate of Return (Yacktman) % is 4.44. Affiliated Managers Group's value of 16.85% is 279.5% above this industry median. Based on the distribution chart, Affiliated Managers Group ranks #226 out of 1171 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Affiliated Managers Group has a GF Score™ of 83/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Affiliated Managers Group's Forward Rate of Return (Yacktman) % compare to MAAS and PDI?
According to the Asset Management industry distribution chart, Affiliated Managers Group ranks #226 out of 1171 companies for Forward Rate of Return (Yacktman) %. This places Affiliated Managers Group in the top 19% of its industry — outperforming the majority of peers. The industry median Forward Rate of Return (Yacktman) % is 4.44. Affiliated Managers Group's value of 16.85% is 279.5% above this benchmark. While the company's 10-year median is 19.19 vs. the industry median of 4.44, Affiliated Managers Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward Rate of Return (Yacktman) % for an Asset Management company?
The median Forward Rate of Return (Yacktman) % among Asset Management companies is 4.44, based on 1,171 companies in the industry. Companies in the top quartile (top 25%) have a Forward Rate of Return (Yacktman) % significantly above this median, while those in the bottom quartile fall well below. However, Forward Rate of Return (Yacktman) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Affiliated Managers Group's current Forward Rate of Return (Yacktman) % of 16.85% is 279.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Forward Rate of Return (Yacktman) % mean?
A high Forward Rate of Return (Yacktman) % can signal that a stock is expensive relative to its fundamentals. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Affiliated Managers Group and its competitors. For the Asset Management industry, the median Forward Rate of Return (Yacktman) % is 4.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Affiliated Managers Group's current Forward Rate of Return (Yacktman) % is 16.85%, which is 12% below median its own 10-year median of 19.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Affiliated Managers Group stock overvalued right now?
Based on GuruFocus' analysis, Affiliated Managers Group (AMG) is currently considered Significantly Overvalued. The stock's GF Value™ is $276.77, compared to a current price of $366.62 — trading 32.5% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 16.85%, which is 12% below median its 10-year median of 19.19 and 279.5% above the Asset Management industry median of 4.44. Affiliated Managers Group's overall GF Score™ is 83/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Forward Rate of Return (Yacktman) % calculated?
Forward Rate of Return (Yacktman) % is calculated from a company's financial statements. For Affiliated Managers Group (AMG), the current Forward Rate of Return (Yacktman) % is 16.85% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Affiliated Managers Group (AMG) Overvalued in 2026?
Based on GuruFocus' analysis, Affiliated Managers Group stock appears to be overvalued.
The current stock price of $366.62 is trading 32.5% above its estimated GF Value™ of $276.77.
GuruFocus considers Affiliated Managers Group to be Significantly Overvalued.
Key valuation signals for AMG:
Forward Rate of Return (Yacktman) %: 16.85% (12% below median its 10-year median of 19.19)
GF Value™: $276.77 vs. price of $366.62 (32.5% above fair value)
Industry Position: 279.5% above the Asset Management median (#226 of 1171)
No single metric tells the full story. See the AMG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Affiliated Managers Group offers investment strategies to investors through its network of affiliates. The firm typically buys a majority interest in small to mid-size boutique asset managers, receiving a fixed percentage of revenue from these firms in return. Affiliates operate independently, with AMG providing strategic, operational, and technology support, as well as global distribution. At the end of December 2025, AMG's affiliate network—which includes firms like Abacus Capital and Pantheon dedicated to private markets (which accounted for 18% of AUM), AQR Capital and Capula Investment Management in liquid alternatives (28%), and Harding Loevner, Tweedy Browne, Parnassus, and Yacktman in equities, multi-asset, and bond strategies (54%)—had $813.3 billion in managed assets.
83GF Score
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Forward Rate of Return (Yacktman) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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