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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Premier InvestmentsASX:PMV -0.51%77 Forward Rate of Return (Yacktman) % is 4.78% as of Jul. 2025, which is 73% below its 10-year median of 17.95. GuruFocus rates ASX:PMV with a GF Score™ of 77/100 and a GF Value™ of A$11.80 (Fairly Valued). The stock has 4 warning signs investors should review. Among 791 Retail - Cyclical companies, Premier Investments ranks better than 52.21% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Premier Investments's forward rate of return for was 4.78%.
The historical rank and industry rank for Premier Investments's Forward Rate of Return (Yacktman) % or its related term are showing as below:
ASX:PMV'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -2.37 Med: 17.95 Max: 31.04
Current: 13.45
During the past 13 years, Premier Investments's highest Forward Rate of Return was 31.04. The lowest was -2.37. And the median was 17.95.
ASX:PMV's Forward Rate of Return (Yacktman) % is ranked better than 52.21% of 791
companies
in the Retail - Cyclical industry
Industry Median: 12.85
vs ASX:PMV: 13.45
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.
Premier Investments (ASX:PMV) 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.
Premier Investments Forward Rate of Return (Yacktman) % Related Terms
Premier Investments Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Premier Investments'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.
Premier Investments Forward Rate of Return (Yacktman) % Chart
ASX:PMV vs TJX, ROST, BURL: Forward Rate of Return (Yacktman) % Comparison
For the Apparel Retail subindustry, Premier Investments'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.
Premier Investments Forward Rate of Return (Yacktman) % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Premier Investments's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Premier Investments's Forward Rate of Return (Yacktman) % falls into.
Premier Investments 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 4.78% mean?
Premier Investments (ASX:PMV) has a Forward Rate of Return (Yacktman) % of 4.78% as of Jul. 2025. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Premier Investments and its competitors. This is 73% below median its historical median of 17.95. According to the industry distribution chart, Premier Investments ranks #378 out of 791 companies in the Retail - Cyclical industry, placing it in the top 47.8%.
Is Premier Investments' Forward Rate of Return (Yacktman) % too high?
Premier Investments' current Forward Rate of Return (Yacktman) % of 4.78% is 73% below median its 10-year median of 17.95. The Retail - Cyclical industry median Forward Rate of Return (Yacktman) % is 12.85. Premier Investments' value of 4.78% is 62.8% below this industry median. Based on the distribution chart, Premier Investments ranks #378 out of 791 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Premier Investments has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Premier Investments' Forward Rate of Return (Yacktman) % compare to TJX and ROST?
According to the Retail - Cyclical industry distribution chart, Premier Investments ranks #378 out of 791 companies for Forward Rate of Return (Yacktman) %. This puts Premier Investments in the upper half of its industry. The industry median Forward Rate of Return (Yacktman) % is 12.85. Premier Investments' value of 4.78% is 62.8% below this benchmark. While the company's 10-year median is 17.95 vs. the industry median of 12.85, Premier Investments 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 Retail - Cyclical company?
The median Forward Rate of Return (Yacktman) % among Retail - Cyclical companies is 12.85, based on 791 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. Premier Investments's current Forward Rate of Return (Yacktman) % of 4.78% is 62.8% 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 Premier Investments and its competitors. For the Retail - Cyclical industry, the median Forward Rate of Return (Yacktman) % is 12.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Premier Investments's current Forward Rate of Return (Yacktman) % is 4.78%, which is 73% below median its own 10-year median of 17.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Premier Investments stock overvalued right now?
Based on GuruFocus' analysis, Premier Investments (ASX:PMV) is currently considered Fairly Valued. The stock's GF Value™ is A$11.80, compared to a current price of A$11.62 — trading 1.5% below its estimated fair value. The current Forward Rate of Return (Yacktman) % is 4.78%, which is 73% below median its 10-year median of 17.95 and 62.8% below the Retail - Cyclical industry median of 12.85. Premier Investments' overall GF Score™ is 77/100 with 4 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 Premier Investments (ASX:PMV), the current Forward Rate of Return (Yacktman) % is 4.78% as of Jul. 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 Premier Investments (ASX:PMV) Overvalued in 2026?
Based on GuruFocus' analysis, Premier Investments stock appears to be undervalued.
The current stock price of A$11.62 is trading 1.5% below its estimated GF Value™ of A$11.80.
GuruFocus considers Premier Investments to be Fairly Valued.
Key valuation signals for ASX:PMV:
Forward Rate of Return (Yacktman) %: 4.78% (73% below median its 10-year median of 17.95)
GF Value™: A$11.80 vs. price of A$11.62 (1.5% below fair value)
Industry Position: 62.8% below the Retail - Cyclical median (#378 of 791)
No single metric tells the full story. See the ASX:PMV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Premier Investments owns two global retail brands. While Smiggle has been operating outside of its core Australian and New Zealand markets for many years, the more prolific fashion brand Peter Alexander only recently entered the United Kingdom. The unique Smiggle brand retails children's stationery in Australia and overseas markets. Premier materially restructured in 2025, merging its five core apparel brands with department store Myer. It distributed its Myer equity stake to its shareholders with an in-specie capital reduction and dividend.Premier is also a significant shareholder in Australia-listed Breville Group.
77GF Score
Get the complete analysis for ASX:PMV
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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