Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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.
Dubai Financial Market PJSCDFM:DFM -0.71%97 Forward Rate of Return (Yacktman) % is 24.00% as of Mar. 2026, which is 500% above its 10-year median of 4.00. GuruFocus rates DFM:DFM with a GF Score™ of 97/100 and a GF Value™ of د.إ1.89 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 518 Capital Markets companies, Dubai Financial Market PJSC ranks better than 84.75% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Dubai Financial Market PJSC's forward rate of return for was 24.00%.
The historical rank and industry rank for Dubai Financial Market PJSC's Forward Rate of Return (Yacktman) % or its related term are showing as below:
DFM:DFM'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -18.72 Med: 4 Max: 25.7
Current: 23.94
During the past 13 years, Dubai Financial Market PJSC's highest Forward Rate of Return was 25.70. The lowest was -18.72. And the median was 4.00.
DFM:DFM's Forward Rate of Return (Yacktman) % is ranked better than 84.75% of 518
companies
in the Capital Markets industry
Industry Median: 9.18
vs DFM:DFM: 23.94
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.
Dubai Financial Market PJSC Forward Rate of Return (Yacktman) % Related Terms
Dubai Financial Market PJSC Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Dubai Financial Market PJSC'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.
DFM:DFM vs SPGI, CME, MCO: Forward Rate of Return (Yacktman) % Comparison
For the Financial Data & Stock Exchanges subindustry, Dubai Financial Market PJSC'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.
Dubai Financial Market PJSC Forward Rate of Return (Yacktman) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Dubai Financial Market PJSC's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Dubai Financial Market PJSC'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 24.00% mean?
Dubai Financial Market PJSC (DFM:DFM) has a Forward Rate of Return (Yacktman) % of 24.00% 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 Dubai Financial Market PJSC and its competitors. This is 500% above median its historical median of 4.00. According to the industry distribution chart, Dubai Financial Market PJSC ranks #79 out of 518 companies in the Capital Markets industry, placing it in the top 15.3%.
Is Dubai Financial Market PJSC's Forward Rate of Return (Yacktman) % too high?
Dubai Financial Market PJSC's current Forward Rate of Return (Yacktman) % of 24.00% is 500% above median its 10-year median of 4.00. The Capital Markets industry median Forward Rate of Return (Yacktman) % is 9.18. Dubai Financial Market PJSC's value of 24.00% is 161.4% above this industry median. Based on the distribution chart, Dubai Financial Market PJSC ranks #79 out of 518 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Dubai Financial Market PJSC has a GF Score™ of 97/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Dubai Financial Market PJSC's Forward Rate of Return (Yacktman) % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Dubai Financial Market PJSC ranks #79 out of 518 companies for Forward Rate of Return (Yacktman) %. This places Dubai Financial Market PJSC in the top 15% of its industry — outperforming the majority of peers. The industry median Forward Rate of Return (Yacktman) % is 9.18. Dubai Financial Market PJSC's value of 24.00% is 161.4% above this benchmark. While the company's 10-year median is 4.00 vs. the industry median of 9.18, Dubai Financial Market PJSC 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 Capital Markets company?
The median Forward Rate of Return (Yacktman) % among Capital Markets companies is 9.18, based on 518 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. Dubai Financial Market PJSC's current Forward Rate of Return (Yacktman) % of 24.00% is 161.4% 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 Dubai Financial Market PJSC and its competitors. For the Capital Markets industry, the median Forward Rate of Return (Yacktman) % is 9.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dubai Financial Market PJSC's current Forward Rate of Return (Yacktman) % is 24.00%, which is 500% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dubai Financial Market PJSC stock overvalued right now?
Based on GuruFocus' analysis, Dubai Financial Market PJSC (DFM:DFM) is currently considered Modestly Undervalued. The stock's GF Value™ is د.إ1.89, compared to a current price of د.إ1.40 — trading 25.9% below its estimated fair value. The current Forward Rate of Return (Yacktman) % is 24.00%, which is 500% above median its 10-year median of 4.00 and 161.4% above the Capital Markets industry median of 9.18. Dubai Financial Market PJSC's overall GF Score™ is 97/100 with 5 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 Dubai Financial Market PJSC (DFM:DFM), the current Forward Rate of Return (Yacktman) % is 24.00% 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 Dubai Financial Market PJSC (DFM:DFM) Overvalued in 2026?
Based on GuruFocus' analysis, Dubai Financial Market PJSC stock appears to be undervalued.
The current stock price of د.إ1.40 is trading 25.9% below its estimated GF Value™ of د.إ1.89.
GuruFocus considers Dubai Financial Market PJSC to be Modestly Undervalued.
Key valuation signals for DFM:DFM:
Forward Rate of Return (Yacktman) %: 24.00% (500% above median its 10-year median of 4.00)
GF Value™: د.إ1.89 vs. price of د.إ1.40 (25.9% below fair value)
Industry Position: 161.4% above the Capital Markets median (#79 of 518)
No single metric tells the full story. See the DFM:DFM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dubai Financial Market PJSC operates as a regulated secondary market for the trading of securities issued by public shareholding companies, bonds issued by federal or local governments, local public institutions, and mutual funds as well as other local or foreign financial instruments. The company is focused on trading in financial instruments, acting as a commercial, industrial and agricultural holding and trust company, financial investment consultancy, and brokerage in local and foreign shares and bonds. It is engaged in a single segment of operating stock exchanges and related clearing house. The company derives the majority of revenue from Trading commission fees and rest from Brokerage fees, Clearing, settlement and depository fees, Listing and market data fees, and Other fees.
97GF Score
Get the complete analysis for DFM:DFM
Forward Rate of Return (Yacktman) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
DFM:DFM has been successfully added to your 
