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Empire CoEMLAF +0.89%77 Forward Rate of Return (Yacktman) % is 12.63% as of Apr. 2026, which is 55% below its 10-year median of 27.80. GuruFocus rates EMLAF with a GF Score™ of 77/100 and a GF Value™ of $34.51 (Fairly Valued). The stock has 3 warning signs investors should review. Among 220 Retail - Defensive companies, Empire Co ranks worse than 57.27% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Empire Co's forward rate of return for was 12.63%.
The historical rank and industry rank for Empire Co's Forward Rate of Return (Yacktman) % or its related term are showing as below:
EMLAF'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 11.66 Med: 27.8 Max: 31.93
Current: 12.09
During the past 13 years, Empire Co's highest Forward Rate of Return was 31.93. The lowest was 11.66. And the median was 27.80.
EMLAF's Forward Rate of Return (Yacktman) % is ranked worse than 57.27% of 220
companies
in the Retail - Defensive industry
Industry Median: 14.045
vs EMLAF: 12.09
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.
Empire Co (OTCPK:EMLAF) 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.
Empire Co Forward Rate of Return (Yacktman) % Related Terms
Empire Co Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Empire Co'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.
Empire Co Forward Rate of Return (Yacktman) % Chart
EMLAF vs KR, SFM, ACI: Forward Rate of Return (Yacktman) % Comparison
For the Grocery Stores subindustry, Empire Co'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.
Empire Co Forward Rate of Return (Yacktman) % vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Empire Co's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Empire Co's Forward Rate of Return (Yacktman) % falls into.
Empire Co 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).
Empire Co's Forward Rate of Return of Apr. 2026 is
Forward Rate of Return
=
Normalized Free Cash Flow
/
Price
+
5-Year EBITDA Growth Rate
=
3.57238095
/
34.3
+
0.0003
=
10.45 %
* 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 12.63% mean?
Empire Co (EMLAF) has a Forward Rate of Return (Yacktman) % of 12.63% as of Apr. 2026. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Empire Co and its competitors. This is 55% below median its historical median of 27.80. Over the past decade, Empire Co's Forward Rate of Return (Yacktman) % has ranged from 11.66 to 31.93. According to the industry distribution chart, Empire Co ranks #126 out of 220 companies in the Retail - Defensive industry, placing it in the top 57.3%.
Is Empire Co's Forward Rate of Return (Yacktman) % too high?
Empire Co's current Forward Rate of Return (Yacktman) % of 12.63% is 55% below median its 10-year median of 27.80. Over the past 10 years, this metric has ranged from a low of 11.66 to a high of 31.93. The Retail - Defensive industry median Forward Rate of Return (Yacktman) % is 14.05. Empire Co's value of 12.63% is 10.1% below this industry median. Based on the distribution chart, Empire Co ranks #126 out of 220 companies in the Retail - Defensive industry, which is below the industry midpoint. Overall, Empire Co has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Empire Co's Forward Rate of Return (Yacktman) % compare to KR and SFM?
According to the Retail - Defensive industry distribution chart, Empire Co ranks #126 out of 220 companies for Forward Rate of Return (Yacktman) %. This places Empire Co in the lower half of its industry. The industry median Forward Rate of Return (Yacktman) % is 14.05. Empire Co's value of 12.63% is 10.1% below this benchmark. Historically, Empire Co's own Forward Rate of Return (Yacktman) % has ranged from 11.66 to 31.93 over the past decade. While the company's 10-year median is 27.80 vs. the industry median of 14.05, Empire Co 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 - Defensive company?
The median Forward Rate of Return (Yacktman) % among Retail - Defensive companies is 14.05, based on 220 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. Empire Co's current Forward Rate of Return (Yacktman) % of 12.63% is 10.1% 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 Empire Co and its competitors. For the Retail - Defensive industry, the median Forward Rate of Return (Yacktman) % is 14.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Empire Co's current Forward Rate of Return (Yacktman) % is 12.63%, which is 55% below median its own 10-year median of 27.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Empire Co stock overvalued right now?
Based on GuruFocus' analysis, Empire Co (EMLAF) is currently considered Fairly Valued. The stock's GF Value™ is $34.51, compared to a current price of $35.08 — trading 1.7% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 12.63%, which is 55% below median its 10-year median of 27.80 and 10.1% below the Retail - Defensive industry median of 14.05. Empire Co's overall GF Score™ is 77/100 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 Empire Co (EMLAF), the current Forward Rate of Return (Yacktman) % is 12.63% as of Apr. 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 Empire Co (EMLAF) Overvalued in 2026?
Based on GuruFocus' analysis, Empire Co stock appears to be overvalued.
The current stock price of $35.08 is trading 1.7% above its estimated GF Value™ of $34.51.
GuruFocus considers Empire Co to be Fairly Valued.
Key valuation signals for EMLAF:
Forward Rate of Return (Yacktman) %: 12.63% (55% below median its 10-year median of 27.80)
GF Value™: $34.51 vs. price of $35.08 (1.7% above fair value)
Industry Position: 10.1% below the Retail - Defensive median (#126 of 220)
No single metric tells the full story. See the EMLAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Empire Co Ltd is a Canadian company whose key businesses are food retailing and related real estate. The Company's business operations were conducted through its two reportable segments: Food retailing and Investments and other operations. The Food retailing segment is comprised of three operating segments: Sobeys National, Farm Boy and Longo's. Food retailing consists of corporate and franchisee-owned retail food stores, and includes convenience and fuel stores, retail pharmacy stores and in-store pharmacies, as well as an e-commerce grocery-business, providing customers offerings in fresh and non-fresh grocery, fuel, pharmacy, health and beauty care and general merchandise. The Investments and other operations consists of investments in Crombie REIT, real estate partnership.
77GF Score
Get the complete analysis for EMLAF
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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