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Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. PTT Exploration & Production PCL's forward rate of return for was 19.73%.
The historical rank and industry rank for PTT Exploration & Production PCL's Forward Rate of Return (Yacktman) % or its related term are showing as below:
FRA:NVAL'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -8.4 Med: 20.88 Max: 33.17
Current: 18.6
During the past 13 years, PTT Exploration & Production PCL's highest Forward Rate of Return was 33.17. The lowest was -8.40. And the median was 20.88.
FRA:NVAL's Forward Rate of Return (Yacktman) % is ranked better than 64.36% of 606
companies
in the Oil & Gas industry
Industry Median: 13.145
vs FRA:NVAL: 18.60
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.
PTT Exploration & Production PCL (FRA:NVAL) 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.
PTT Exploration & Production PCL Forward Rate of Return (Yacktman) % Related Terms
PTT Exploration & Production PCL 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.
PTT Exploration & Production PCL Forward Rate of Return (Yacktman) % Chart
FRA:NVAL vs COP, EOG, FANG: Forward Rate of Return (Yacktman) % Comparison
For the Oil & Gas E&P subindustry, PTT Exploration & Production PCL'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.
PTT Exploration & Production PCL Forward Rate of Return (Yacktman) % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, PTT Exploration & Production PCL's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where PTT Exploration & Production PCL's Forward Rate of Return (Yacktman) % falls into.
PTT Exploration & Production PCL 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 19.73% mean?
PTT Exploration & Production PCL (FRA:NVAL) has a Forward Rate of Return (Yacktman) % of 19.73% as of Jun. 2026. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on PTT Exploration & Production PCL and its competitors. This is near median its historical median of 20.88. According to the industry distribution chart, PTT Exploration & Production PCL ranks #216 out of 606 companies in the Oil & Gas industry, placing it in the top 35.6%.
Is PTT Exploration & Production PCL's Forward Rate of Return (Yacktman) % too high?
PTT Exploration & Production PCL's current Forward Rate of Return (Yacktman) % of 19.73% is near median its 10-year median of 20.88. The Oil & Gas industry median Forward Rate of Return (Yacktman) % is 13.15. PTT Exploration & Production PCL's value of 19.73% is 50.1% above this industry median. Based on the distribution chart, PTT Exploration & Production PCL ranks #216 out of 606 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, PTT Exploration & Production PCL has a GF Score™ of 89/100, reflecting its overall financial health beyond just this single metric.
How does PTT Exploration & Production PCL's Forward Rate of Return (Yacktman) % compare to COP and EOG?
According to the Oil & Gas industry distribution chart, PTT Exploration & Production PCL ranks #216 out of 606 companies for Forward Rate of Return (Yacktman) %. This puts PTT Exploration & Production PCL in the upper half of its industry. The industry median Forward Rate of Return (Yacktman) % is 13.15. PTT Exploration & Production PCL's value of 19.73% is 50.1% above this benchmark. While the company's 10-year median is 20.88 vs. the industry median of 13.15, PTT Exploration & Production PCL 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 an Oil & Gas company?
The median Forward Rate of Return (Yacktman) % among Oil & Gas companies is 13.15, based on 606 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. PTT Exploration & Production PCL's current Forward Rate of Return (Yacktman) % of 19.73% is 50.1% 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 PTT Exploration & Production PCL and its competitors. For the Oil & Gas industry, the median Forward Rate of Return (Yacktman) % is 13.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PTT Exploration & Production PCL's current Forward Rate of Return (Yacktman) % is 19.73%, which is near median its own 10-year median of 20.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PTT Exploration & Production PCL stock overvalued right now?
PTT Exploration & Production PCL (FRA:NVAL) has a current Forward Rate of Return (Yacktman) % of 19.73%. The stock's GF Value™ is €3.72, compared to a current price of €3.82 — trading 2.7% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 19.73%, which is near median its 10-year median of 20.88 and 50.1% above the Oil & Gas industry median of 13.15. PTT Exploration & Production PCL's overall GF Score™ is 89/100 with 4 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 PTT Exploration & Production PCL (FRA:NVAL), the current Forward Rate of Return (Yacktman) % is 19.73% as of Jun. 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 PTT Exploration & Production PCL (FRA:NVAL) Overvalued in 2026?
Based on GuruFocus' analysis, PTT Exploration & Production PCL stock appears to be overvalued.
The current stock price of €3.82 is trading 2.7% above its estimated GF Value™ of €3.72.
Key valuation signals for FRA:NVAL:
Forward Rate of Return (Yacktman) %: 19.73% (near median its 10-year median of 20.88)
GF Value™: €3.72 vs. price of €3.82 (2.7% above fair value)
Industry Position: 50.1% above the Oil & Gas median (#216 of 606)
No single metric tells the full story. See the FRA:NVAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PTT Exploration & Production PCL is engaged in the exploration and production of petroleum in Thailand and overseas, and related businesses. Its segments include Exploration and production, which operates in oil and gas exploration and production both domestically and overseas, including overseas gas transportation pipeline, either as an operator or as a joint venture partner with international oil and gas companies. Its domestic projects are located in the Gulf of Thailand. Overseas projects are located in Southeast Asia, the Middle East, Africa, and other regions. Other businesses and corporate consist of investments in other businesses, such as new businesses for energy transition, related businesses, and corporate.
89GF Score
Get the complete analysis for FRA:NVAL
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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