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Saul CentersBFS +1.16%78 Forward Rate of Return (Yacktman) % is 18.02% as of Mar. 2026, which is 88% above its 10-year median of 9.59. GuruFocus rates BFS with a GF Score™ of 78/100 and a GF Value™ of $42.17 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 635 REITs companies, Saul Centers ranks better than 72.91% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Saul Centers's forward rate of return for was 18.02%.
The historical rank and industry rank for Saul Centers's Forward Rate of Return (Yacktman) % or its related term are showing as below:
BFS'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 6.17 Med: 9.59 Max: 18.76
Current: 16.76
During the past 13 years, Saul Centers's highest Forward Rate of Return was 18.76. The lowest was 6.17. And the median was 9.59.
BFS's Forward Rate of Return (Yacktman) % is ranked better than 72.91% of 635
companies
in the REITs industry
Industry Median: 7.93
vs BFS: 16.76
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.
Saul Centers (NYSE:BFS) 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.
Saul Centers Forward Rate of Return (Yacktman) % Related Terms
Saul Centers Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Saul Centers'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.
Saul Centers Forward Rate of Return (Yacktman) % Chart
BFS vs WSR, ALX, PINE: Forward Rate of Return (Yacktman) % Comparison
For the REIT - Retail subindustry, Saul Centers'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.
Saul Centers Forward Rate of Return (Yacktman) % vs REITs Industry
For the REITs industry and Real Estate sector, Saul Centers's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Saul Centers's Forward Rate of Return (Yacktman) % falls into.
Saul Centers 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).
Saul Centers's Forward Rate of Return of Mar. 2026 is
Forward Rate of Return
=
Normalized Free Cash Flow
/
Price
+
5-Year EBITDA Growth Rate
=
4.7247619
/
32.58
+
0.0352
=
18.02 %
* 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 18.02% mean?
Saul Centers (BFS) has a Forward Rate of Return (Yacktman) % of 18.02% 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 Saul Centers and its competitors. This is 88% above median its historical median of 9.59. Over the past decade, Saul Centers' Forward Rate of Return (Yacktman) % has ranged from 6.17 to 18.76. According to the industry distribution chart, Saul Centers ranks #172 out of 635 companies in the REITs industry, placing it in the top 27.1%.
Is Saul Centers' Forward Rate of Return (Yacktman) % too high?
Saul Centers' current Forward Rate of Return (Yacktman) % of 18.02% is 88% above median its 10-year median of 9.59. Over the past 10 years, this metric has ranged from a low of 6.17 to a high of 18.76. The REITs industry median Forward Rate of Return (Yacktman) % is 7.93. Saul Centers' value of 18.02% is 127.2% above this industry median. Based on the distribution chart, Saul Centers ranks #172 out of 635 companies in the REITs industry, which is above the industry midpoint. Overall, Saul Centers has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Saul Centers' Forward Rate of Return (Yacktman) % compare to WSR and ALX?
According to the REITs industry distribution chart, Saul Centers ranks #172 out of 635 companies for Forward Rate of Return (Yacktman) %. This puts Saul Centers in the upper half of its industry. The industry median Forward Rate of Return (Yacktman) % is 7.93. Saul Centers' value of 18.02% is 127.2% above this benchmark. Historically, Saul Centers' own Forward Rate of Return (Yacktman) % has ranged from 6.17 to 18.76 over the past decade. While the company's 10-year median is 9.59 vs. the industry median of 7.93, Saul Centers 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 REITs company?
The median Forward Rate of Return (Yacktman) % among REITs companies is 7.93, based on 635 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. Saul Centers's current Forward Rate of Return (Yacktman) % of 18.02% is 127.2% 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 Saul Centers and its competitors. For the REITs industry, the median Forward Rate of Return (Yacktman) % is 7.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Saul Centers's current Forward Rate of Return (Yacktman) % is 18.02%, which is 88% above median its own 10-year median of 9.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Saul Centers stock overvalued right now?
Based on GuruFocus' analysis, Saul Centers (BFS) is currently considered Modestly Undervalued. The stock's GF Value™ is $42.17, compared to a current price of $35.68 — trading 15.4% below its estimated fair value. The current Forward Rate of Return (Yacktman) % is 18.02%, which is 88% above median its 10-year median of 9.59 and 127.2% above the REITs industry median of 7.93. Saul Centers' overall GF Score™ is 78/100 with 9 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 Saul Centers (BFS), the current Forward Rate of Return (Yacktman) % is 18.02% 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 Saul Centers (BFS) Overvalued in 2026?
Based on GuruFocus' analysis, Saul Centers stock appears to be undervalued.
The current stock price of $35.68 is trading 15.4% below its estimated GF Value™ of $42.17.
GuruFocus considers Saul Centers to be Modestly Undervalued.
Key valuation signals for BFS:
Forward Rate of Return (Yacktman) %: 18.02% (88% above median its 10-year median of 9.59)
GF Value™: $42.17 vs. price of $35.68 (15.4% below fair value)
Industry Position: 127.2% above the REITs median (#172 of 635)
No single metric tells the full story. See the BFS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Saul Centers Inc is a self-managed real estate investment trust which invests in, operates and develops retail and commercial properties. The company's portfolio includes community and neighbourhood shopping centres, office properties, and mixed-use properties. Properties are located in the Washington, D.C. and Batlimore metropolitan areas. Saul Centers operates through two business segments: Shopping Centers segment, which contribute the maximum portion of total revenue; and mixed-use properties.Mixed-Use Properties segment include office, retail and multi-family residential use.
78GF Score
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