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Perma-Pipe International HoldingsFRA:MF3 71 Forward Rate of Return (Yacktman) % is 21.32% as of Jul. 2026, which is 1% above its 10-year median of 21.16. GuruFocus rates FRA:MF3 with a GF Score™ of 71/100 and a GF Value™ of €17.68 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,311 Construction companies, Perma-Pipe International Holdings ranks better than 79.63% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Perma-Pipe International Holdings's forward rate of return for was 21.32%.
The historical rank and industry rank for Perma-Pipe International Holdings's Forward Rate of Return (Yacktman) % or its related term are showing as below:
FRA:MF3'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 21 Med: 21.16 Max: 21.28
Current: 21
During the past 13 years, Perma-Pipe International Holdings's highest Forward Rate of Return was 21.28. The lowest was 21.00. And the median was 21.16.
FRA:MF3's Forward Rate of Return (Yacktman) % is ranked better than 79.63% of 1311
companies
in the Construction industry
Industry Median: 9.19
vs FRA:MF3: 21.00
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.
Perma-Pipe International Holdings (FRA:MF3) 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.
Perma-Pipe International Holdings Forward Rate of Return (Yacktman) % Related Terms
Perma-Pipe International Holdings Forward Rate of Return (Yacktman) % Historical Data
* 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.
Perma-Pipe International Holdings Forward Rate of Return (Yacktman) % Chart
FRA:MF3 vs JELD, JLHL, BURCA: Forward Rate of Return (Yacktman) % Comparison
For the Building Products & Equipment subindustry, Perma-Pipe International Holdings'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.
Perma-Pipe International Holdings Forward Rate of Return (Yacktman) % vs Construction Industry
For the Construction industry and Industrials sector, Perma-Pipe International Holdings's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Perma-Pipe International Holdings's Forward Rate of Return (Yacktman) % falls into.
Perma-Pipe International Holdings 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 21.32% mean?
Perma-Pipe International Holdings (FRA:MF3) has a Forward Rate of Return (Yacktman) % of 21.32% as of Jul. 2026. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Perma-Pipe International Holdings and its competitors. This is near median its historical median of 21.16. Over the past decade, Perma-Pipe International Holdings' Forward Rate of Return (Yacktman) % has ranged from 21.00 to 21.28. According to the industry distribution chart, Perma-Pipe International Holdings ranks #267 out of 1311 companies in the Construction industry, placing it in the top 20.4%.
Is Perma-Pipe International Holdings' Forward Rate of Return (Yacktman) % too high?
Perma-Pipe International Holdings' current Forward Rate of Return (Yacktman) % of 21.32% is near median its 10-year median of 21.16. Over the past 10 years, this metric has ranged from a low of 21.00 to a high of 21.28. The Construction industry median Forward Rate of Return (Yacktman) % is 9.19. Perma-Pipe International Holdings' value of 21.32% is 132% above this industry median. Based on the distribution chart, Perma-Pipe International Holdings ranks #267 out of 1311 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Perma-Pipe International Holdings has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Perma-Pipe International Holdings' Forward Rate of Return (Yacktman) % compare to JELD and JLHL?
According to the Construction industry distribution chart, Perma-Pipe International Holdings ranks #267 out of 1311 companies for Forward Rate of Return (Yacktman) %. This places Perma-Pipe International Holdings in the top 20% of its industry — outperforming the majority of peers. The industry median Forward Rate of Return (Yacktman) % is 9.19. Perma-Pipe International Holdings' value of 21.32% is 132% above this benchmark. Historically, Perma-Pipe International Holdings' own Forward Rate of Return (Yacktman) % has ranged from 21.00 to 21.28 over the past decade. While the company's 10-year median is 21.16 vs. the industry median of 9.19, Perma-Pipe International Holdings 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 Construction company?
The median Forward Rate of Return (Yacktman) % among Construction companies is 9.19, based on 1,311 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. Perma-Pipe International Holdings's current Forward Rate of Return (Yacktman) % of 21.32% is 132% 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 Perma-Pipe International Holdings and its competitors. For the Construction industry, the median Forward Rate of Return (Yacktman) % is 9.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Perma-Pipe International Holdings's current Forward Rate of Return (Yacktman) % is 21.32%, which is near median its own 10-year median of 21.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Perma-Pipe International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Perma-Pipe International Holdings (FRA:MF3) is currently considered Significantly Overvalued. The stock's GF Value™ is €17.68, compared to a current price of €24.80 — trading 40.3% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 21.32%, which is near median its 10-year median of 21.16 and 132% above the Construction industry median of 9.19. Perma-Pipe International Holdings' overall GF Score™ is 71/100 with 2 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 Perma-Pipe International Holdings (FRA:MF3), the current Forward Rate of Return (Yacktman) % is 21.32% as of Jul. 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 Perma-Pipe International Holdings (FRA:MF3) Overvalued in 2026?
Based on GuruFocus' analysis, Perma-Pipe International Holdings stock appears to be overvalued.
The current stock price of €24.80 is trading 40.3% above its estimated GF Value™ of €17.68.
GuruFocus considers Perma-Pipe International Holdings to be Significantly Overvalued.
Key valuation signals for FRA:MF3:
Forward Rate of Return (Yacktman) %: 21.32% (near median its 10-year median of 21.16)
GF Value™: €17.68 vs. price of €24.80 (40.3% above fair value)
Industry Position: 132% above the Construction median (#267 of 1311)
No single metric tells the full story. See the FRA:MF3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Perma-Pipe International Holdings Inc is engaged in the manufacture and sale of products in Piping Systems. The company engineers, designs, manufactures, and sells specialty piping systems and leak detection systems. Specialty piping systems of the company include insulated and jacketed district heating and cooling piping systems for efficient energy distribution from central energy plants to multiple locations, primary and secondary containment piping systems for transporting chemicals, hazardous fluids, and petroleum products, the coating and insulation of oil and gas gathering and transmission pipelines, and liquid and powder based anti-corrosion coatings applied both to the external and internal surfaces of steel pipe, including shapes such as bends, reducers, tees, and other fittings.
71GF Score
Get the complete analysis for FRA:MF3
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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