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.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's forward rate of return for was 9.86%.
FRA:MUT's Forward Rate of Return (Yacktman) % is ranked worse than 54.22% of 83
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 11.5
vs FRA:MUT: 9.91
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.
Mineralbrunnen Ueberkingen-Teinach GmbH KGaA Forward Rate of Return (Yacktman) % Related Terms
Mineralbrunnen Ueberkingen-Teinach GmbH KGaA 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.
FRA:MUT vs KO, PEP, MNST: Forward Rate of Return (Yacktman) % Comparison
For the Beverages - Non-Alcoholic subindustry, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA'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.
Mineralbrunnen Ueberkingen-Teinach GmbH KGaA Forward Rate of Return (Yacktman) % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Mineralbrunnen Ueberkingen-Teinach GmbH KGaA'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 9.86% mean?
Mineralbrunnen Ueberkingen-Teinach GmbH KGaA (FRA:MUT) has a Forward Rate of Return (Yacktman) % of 9.86% as of Dec. 2025. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Mineralbrunnen Ueberkingen-Teinach GmbH KGaA and its competitors. This is 76% above median its historical median of 5.59. Over the past decade, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's Forward Rate of Return (Yacktman) % has ranged from 0.30 to 18.00. According to the industry distribution chart, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA ranks #45 out of 83 companies in the Beverages - Non-Alcoholic industry, placing it in the top 54.2%.
Is Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's Forward Rate of Return (Yacktman) % too high?
Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's current Forward Rate of Return (Yacktman) % of 9.86% is 76% above median its 10-year median of 5.59. Over the past 10 years, this metric has ranged from a low of 0.30 to a high of 18.00. The Beverages - Non-Alcoholic industry median Forward Rate of Return (Yacktman) % is 11.50. Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's value of 9.86% is 14.3% below this industry median. Based on the distribution chart, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA ranks #45 out of 83 companies in the Beverages - Non-Alcoholic industry, which is below the industry midpoint. Overall, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA has a GF Scoreâ„¢ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's Forward Rate of Return (Yacktman) % compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA ranks #45 out of 83 companies for Forward Rate of Return (Yacktman) %. This places Mineralbrunnen Ueberkingen-Teinach GmbH KGaA in the lower half of its industry. The industry median Forward Rate of Return (Yacktman) % is 11.50. Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's value of 9.86% is 14.3% below this benchmark. Historically, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's own Forward Rate of Return (Yacktman) % has ranged from 0.30 to 18.00 over the past decade. While the company's 10-year median is 5.59 vs. the industry median of 11.50, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA 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 Beverages - Non-Alcoholic company?
The median Forward Rate of Return (Yacktman) % among Beverages - Non-Alcoholic companies is 11.50, based on 83 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. Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's current Forward Rate of Return (Yacktman) % of 9.86% is 14.3% 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 Mineralbrunnen Ueberkingen-Teinach GmbH KGaA and its competitors. For the Beverages - Non-Alcoholic industry, the median Forward Rate of Return (Yacktman) % is 11.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's current Forward Rate of Return (Yacktman) % is 9.86%, which is 76% above median its own 10-year median of 5.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mineralbrunnen Ueberkingen-Teinach GmbH KGaA stock overvalued right now?
Based on GuruFocus' analysis, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA (FRA:MUT) is currently considered Fairly Valued. The stock's GF Value™ is €17.08, compared to a current price of €17.00 — trading 0.5% below its estimated fair value. The current Forward Rate of Return (Yacktman) % is 9.86%, which is 76% above median its 10-year median of 5.59 and 14.3% below the Beverages - Non-Alcoholic industry median of 11.50. Mineralbrunnen Ueberkingen-Teinach GmbH KGaA's overall GF Score™ is 68/100 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 Mineralbrunnen Ueberkingen-Teinach GmbH KGaA (FRA:MUT), the current Forward Rate of Return (Yacktman) % is 9.86% as of Dec. 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 Mineralbrunnen Ueberkingen-Teinach GmbH KGaA (FRA:MUT) Overvalued in 2026?
Based on GuruFocus' analysis, Mineralbrunnen Ueberkingen-Teinach GmbH KGaA stock appears to be undervalued.
The current stock price of €17.00 is trading 0.5% below its estimated GF Value™ of €17.08.
GuruFocus considers Mineralbrunnen Ueberkingen-Teinach GmbH KGaA to be Fairly Valued.
Key valuation signals for FRA:MUT:
Forward Rate of Return (Yacktman) %: 9.86% (76% above median its 10-year median of 5.59)
GF Value™: €17.08 vs. price of €17.00 (0.5% below fair value)
Industry Position: 14.3% below the Beverages - Non-Alcoholic median (#45 of 83)
No single metric tells the full story. See the FRA:MUT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mineralbrunnen Ueberkingen-Teinach GmbH & Co KGaA is a German company which operates in the beverage market. The company produces mineral water, fruit juices, soft drinks, and alcoholic beverages. It provides mineral water under the Krumbach, Teinacher, and Hirschquelle brands; refreshing and sweet drinks under the afri, Bluna, Teinacher Limo, Teinacher pleasure lemonade, and Krumbach lemonades brands; and fruit juices and variants under the Niehoffs Vaihinger, Klindworth, and Merziger brands.
68GF Score
Get the complete analysis for FRA:MUT
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
FRA:MUT has been successfully added to your 
