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Fisher & Paykel HealthcareASX:FPH -0.51%87 Forward Rate of Return (Yacktman) % is 0.86% as of Mar. 2026, which is 94% below its 10-year median of 15.27. GuruFocus rates ASX:FPH with a GF Score™ of 87/100 and a GF Value™ of A$36.85 (Fairly Valued). The stock has 3 warning signs investors should review. Among 378 Medical Devices & Instruments companies, Fisher & Paykel Healthcare ranks worse than 65.34% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Fisher & Paykel Healthcare's forward rate of return for was 0.86%.
The historical rank and industry rank for Fisher & Paykel Healthcare's Forward Rate of Return (Yacktman) % or its related term are showing as below:
ASX:FPH'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -1.33 Med: 15.27 Max: 21.79
Current: 0.7
During the past 13 years, Fisher & Paykel Healthcare's highest Forward Rate of Return was 21.79. The lowest was -1.33. And the median was 15.27.
ASX:FPH's Forward Rate of Return (Yacktman) % is ranked worse than 65.34% of 378
companies
in the Medical Devices & Instruments industry
Industry Median: 8.13
vs ASX:FPH: 0.70
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.
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.
Fisher & Paykel Healthcare Forward Rate of Return (Yacktman) % Related Terms
Fisher & Paykel Healthcare Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Fisher & Paykel Healthcare'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.
ASX:FPH vs ISRG, BDX, MDLN: Forward Rate of Return (Yacktman) % Comparison
For the Medical Instruments & Supplies subindustry, Fisher & Paykel Healthcare'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.
Fisher & Paykel Healthcare Forward Rate of Return (Yacktman) % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Fisher & Paykel Healthcare's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Fisher & Paykel Healthcare's Forward Rate of Return (Yacktman) % falls into.
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 0.86% mean?
Fisher & Paykel Healthcare (ASX:FPH) has a Forward Rate of Return (Yacktman) % of 0.86% as of Mar. 2026. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Fisher & Paykel Healthcare and its competitors. This is 94% below median its historical median of 15.27. According to the industry distribution chart, Fisher & Paykel Healthcare ranks #247 out of 378 companies in the Medical Devices & Instruments industry, placing it in the top 65.3%.
Is Fisher & Paykel Healthcare's Forward Rate of Return (Yacktman) % too high?
Fisher & Paykel Healthcare's current Forward Rate of Return (Yacktman) % of 0.86% is 94% below median its 10-year median of 15.27. The Medical Devices & Instruments industry median Forward Rate of Return (Yacktman) % is 8.13. Fisher & Paykel Healthcare's value of 0.86% is 89.4% below this industry median. Based on the distribution chart, Fisher & Paykel Healthcare ranks #247 out of 378 companies in the Medical Devices & Instruments industry, which is below the industry midpoint. Overall, Fisher & Paykel Healthcare has a GF Score™ of 87/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Fisher & Paykel Healthcare's Forward Rate of Return (Yacktman) % compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Fisher & Paykel Healthcare ranks #247 out of 378 companies for Forward Rate of Return (Yacktman) %. This places Fisher & Paykel Healthcare in the lower half of its industry. The industry median Forward Rate of Return (Yacktman) % is 8.13. Fisher & Paykel Healthcare's value of 0.86% is 89.4% below this benchmark. While the company's 10-year median is 15.27 vs. the industry median of 8.13, Fisher & Paykel Healthcare has consistently been below 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 a Medical Devices & Instruments company?
The median Forward Rate of Return (Yacktman) % among Medical Devices & Instruments companies is 8.13, based on 378 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. Fisher & Paykel Healthcare's current Forward Rate of Return (Yacktman) % of 0.86% is 89.4% below 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 Fisher & Paykel Healthcare and its competitors. For the Medical Devices & Instruments industry, the median Forward Rate of Return (Yacktman) % is 8.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fisher & Paykel Healthcare's current Forward Rate of Return (Yacktman) % is 0.86%, which is 94% below median its own 10-year median of 15.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fisher & Paykel Healthcare stock overvalued right now?
Based on GuruFocus' analysis, Fisher & Paykel Healthcare (ASX:FPH) is currently considered Fairly Valued. The stock's GF Value™ is A$36.85, compared to a current price of A$34.99 — trading 5% below its estimated fair value. The current Forward Rate of Return (Yacktman) % is 0.86%, which is 94% below median its 10-year median of 15.27 and 89.4% below the Medical Devices & Instruments industry median of 8.13. Fisher & Paykel Healthcare's overall GF Score™ is 87/100 with 3 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 Fisher & Paykel Healthcare (ASX:FPH), the current Forward Rate of Return (Yacktman) % is 0.86% as of Mar. 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 Fisher & Paykel Healthcare (ASX:FPH) Overvalued in 2026?
Based on GuruFocus' analysis, Fisher & Paykel Healthcare stock appears to be undervalued.
The current stock price of A$34.99 is trading 5% below its estimated GF Value™ of A$36.85.
GuruFocus considers Fisher & Paykel Healthcare to be Fairly Valued.
Key valuation signals for ASX:FPH:
Forward Rate of Return (Yacktman) %: 0.86% (94% below median its 10-year median of 15.27)
GF Value™: A$36.85 vs. price of A$34.99 (5% below fair value)
Industry Position: 89.4% below the Medical Devices & Instruments median (#247 of 378)
No single metric tells the full story. See the ASX:FPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fisher & Paykel Healthcare is one of the three largest respiratory care device companies globally. It is the market leader in hospital use of humidifiers, masks, and related consumables, and the number three player in the at-home treatment of sleep apnea using respiratory devices. Both the hospital and homecare markets for respiratory devices are growing strongly in the developed markets in which Fisher & Paykel has a presence. The company earns roughly half of its revenue in North America, around a quarter in Europe, and approximately a fifth in Asia-Pacific. Fisher conducts its own R&D and has thousands of patents and pending applications. It manufactures in New Zealand, Mexico, and China, and has a multichannel distribution model.
87GF Score
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