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Kina SecuritiesASX:KSL -0.82%65 Forward Rate of Return (Yacktman) % is 11.60% as of Dec. 2025, which is 27% below its 10-year median of 15.83. GuruFocus rates ASX:KSL with a GF Score™ of 65/100 and a GF Value™ of A$1.16 (Fairly Valued). Among 66 Diversified Financial Services companies, Kina Securities ranks better than 50% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Kina Securities's forward rate of return for was 11.60%.
The historical rank and industry rank for Kina Securities's Forward Rate of Return (Yacktman) % or its related term are showing as below:
ASX:KSL'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 6.46 Med: 15.83 Max: 22.6
Current: 11.81
During the past 11 years, Kina Securities's highest Forward Rate of Return was 22.60. The lowest was 6.46. And the median was 15.83.
ASX:KSL's Forward Rate of Return (Yacktman) % is ranked better than 50% of 66
companies
in the Diversified Financial Services industry
Industry Median: 11.56
vs ASX:KSL: 11.81
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.
Kina Securities (ASX:KSL) 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 Book Value 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.
Kina Securities Forward Rate of Return (Yacktman) % Related Terms
Kina Securities Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Kina Securities'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.
Kina Securities Forward Rate of Return (Yacktman) % Chart
ASX:KSL vs FRHC, VOYA: Forward Rate of Return (Yacktman) % Comparison
For the Financial Conglomerates subindustry, Kina Securities'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.
Kina Securities Forward Rate of Return (Yacktman) % vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Kina Securities's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Kina Securities's Forward Rate of Return (Yacktman) % falls into.
Kina Securities 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 11.60% mean?
Kina Securities (ASX:KSL) has a Forward Rate of Return (Yacktman) % of 11.60% as of Dec. 2025. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Kina Securities and its competitors. This is 27% below median its historical median of 15.83. Over the past decade, Kina Securities' Forward Rate of Return (Yacktman) % has ranged from 6.46 to 22.60. According to the industry distribution chart, Kina Securities ranks #33 out of 66 companies in the Diversified Financial Services industry, placing it in the top 50%.
Is Kina Securities' Forward Rate of Return (Yacktman) % too high?
Kina Securities' current Forward Rate of Return (Yacktman) % of 11.60% is 27% below median its 10-year median of 15.83. Over the past 10 years, this metric has ranged from a low of 6.46 to a high of 22.60. The Diversified Financial Services industry median Forward Rate of Return (Yacktman) % is 11.56. Kina Securities' value of 11.60% is 0.3% above this industry median. Based on the distribution chart, Kina Securities ranks #33 out of 66 companies in the Diversified Financial Services industry, which is above the industry midpoint. Overall, Kina Securities has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Kina Securities' Forward Rate of Return (Yacktman) % compare to FRHC and VOYA?
According to the Diversified Financial Services industry distribution chart, Kina Securities ranks #33 out of 66 companies for Forward Rate of Return (Yacktman) %. This puts Kina Securities in the upper half of its industry. The industry median Forward Rate of Return (Yacktman) % is 11.56. Kina Securities' value of 11.60% is 0.3% above this benchmark. Historically, Kina Securities' own Forward Rate of Return (Yacktman) % has ranged from 6.46 to 22.60 over the past decade. While the company's 10-year median is 15.83 vs. the industry median of 11.56, Kina Securities 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 a Diversified Financial Services company?
The median Forward Rate of Return (Yacktman) % among Diversified Financial Services companies is 11.56, based on 66 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. Kina Securities's current Forward Rate of Return (Yacktman) % of 11.60% is 0.3% 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 Kina Securities and its competitors. For the Diversified Financial Services industry, the median Forward Rate of Return (Yacktman) % is 11.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kina Securities's current Forward Rate of Return (Yacktman) % is 11.60%, which is 27% below median its own 10-year median of 15.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kina Securities stock overvalued right now?
Based on GuruFocus' analysis, Kina Securities (ASX:KSL) is currently considered Fairly Valued. The stock's GF Value™ is A$1.16, compared to a current price of A$1.21 — trading 4.3% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 11.60%, which is 27% below median its 10-year median of 15.83 and 0.3% above the Diversified Financial Services industry median of 11.56. Kina Securities' overall GF Score™ is 65/100. 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 Kina Securities (ASX:KSL), the current Forward Rate of Return (Yacktman) % is 11.60% as of Dec. 2025. 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 Kina Securities (ASX:KSL) Overvalued in 2026?
Based on GuruFocus' analysis, Kina Securities stock appears to be overvalued.
The current stock price of A$1.21 is trading 4.3% above its estimated GF Value™ of A$1.16.
GuruFocus considers Kina Securities to be Fairly Valued.
Key valuation signals for ASX:KSL:
Forward Rate of Return (Yacktman) %: 11.60% (27% below median its 10-year median of 15.83)
GF Value™: A$1.16 vs. price of A$1.21 (4.3% above fair value)
Industry Position: 0.3% above the Diversified Financial Services median (#33 of 66)
No single metric tells the full story. See the ASX:KSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kina Securities Ltd provides diversified financial products and services. The company offers banking services, personal and commercial loans, money market operations, provision of share brokerage, fund administration, investment management services asset financing, and corporate advice. The Group's reportable segments include Banking & Finance and Wealth Management. The Banking & Finance segment includes the operations of the Bank while the Wealth Management segment includes fund management and fund administration business. It derives the majority of its revenues from the banking segment.
65GF 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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