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Hong Kong and China Gas CoHOKCF 48 Forward Rate of Return (Yacktman) % is 4.48% as of Dec. 2025, which is 19% above its 10-year median of 3.77. GuruFocus rates HOKCF with a GF Score™ of 48/100 and a GF Value™ of $0.83 (Fairly Valued). The stock has 11 warning signs investors should review. Among 425 Utilities - Regulated companies, Hong Kong and China Gas Co ranks worse than 57.88% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Hong Kong and China Gas Co's forward rate of return for was 4.48%.
The historical rank and industry rank for Hong Kong and China Gas Co's Forward Rate of Return (Yacktman) % or its related term are showing as below:
HOKCF'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -1.62 Med: 3.77 Max: 8.43
Current: 4.45
During the past 13 years, Hong Kong and China Gas Co's highest Forward Rate of Return was 8.43. The lowest was -1.62. And the median was 3.77.
HOKCF's Forward Rate of Return (Yacktman) % is ranked worse than 57.88% of 425
companies
in the Utilities - Regulated industry
Industry Median: 6.81
vs HOKCF: 4.45
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.
Hong Kong and China Gas Co (OTCPK:HOKCF) 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.
Hong Kong and China Gas Co Forward Rate of Return (Yacktman) % Related Terms
Hong Kong and China Gas Co Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Hong Kong and China Gas 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.
Hong Kong and China Gas Co Forward Rate of Return (Yacktman) % Chart
HOKCF vs ATO, NI: Forward Rate of Return (Yacktman) % Comparison
For the Utilities - Regulated Gas subindustry, Hong Kong and China Gas 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.
Hong Kong and China Gas Co Forward Rate of Return (Yacktman) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Hong Kong and China Gas Co's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Hong Kong and China Gas Co's Forward Rate of Return (Yacktman) % falls into.
Hong Kong and China Gas 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).
* 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 4.48% mean?
Hong Kong and China Gas Co (HOKCF) has a Forward Rate of Return (Yacktman) % of 4.48% 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 Hong Kong and China Gas Co and its competitors. This is 19% above median its historical median of 3.77. According to the industry distribution chart, Hong Kong and China Gas Co ranks #246 out of 425 companies in the Utilities - Regulated industry, placing it in the top 57.9%.
Is Hong Kong and China Gas Co's Forward Rate of Return (Yacktman) % too high?
Hong Kong and China Gas Co's current Forward Rate of Return (Yacktman) % of 4.48% is 19% above median its 10-year median of 3.77. The Utilities - Regulated industry median Forward Rate of Return (Yacktman) % is 6.81. Hong Kong and China Gas Co's value of 4.48% is 34.2% below this industry median. Based on the distribution chart, Hong Kong and China Gas Co ranks #246 out of 425 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Hong Kong and China Gas Co has a GF Score™ of 48/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hong Kong and China Gas Co's Forward Rate of Return (Yacktman) % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Hong Kong and China Gas Co ranks #246 out of 425 companies for Forward Rate of Return (Yacktman) %. This places Hong Kong and China Gas Co in the lower half of its industry. The industry median Forward Rate of Return (Yacktman) % is 6.81. Hong Kong and China Gas Co's value of 4.48% is 34.2% below this benchmark. While the company's 10-year median is 3.77 vs. the industry median of 6.81, Hong Kong and China Gas 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 an Utilities - Regulated company?
The median Forward Rate of Return (Yacktman) % among Utilities - Regulated companies is 6.81, based on 425 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. Hong Kong and China Gas Co's current Forward Rate of Return (Yacktman) % of 4.48% is 34.2% 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 Hong Kong and China Gas Co and its competitors. For the Utilities - Regulated industry, the median Forward Rate of Return (Yacktman) % is 6.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hong Kong and China Gas Co's current Forward Rate of Return (Yacktman) % is 4.48%, which is 19% above median its own 10-year median of 3.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hong Kong and China Gas Co stock overvalued right now?
Based on GuruFocus' analysis, Hong Kong and China Gas Co (HOKCF) is currently considered Fairly Valued. The stock's GF Value™ is $0.83, compared to a current price of $0.87 — trading 4.7% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 4.48%, which is 19% above median its 10-year median of 3.77 and 34.2% below the Utilities - Regulated industry median of 6.81. Hong Kong and China Gas Co's overall GF Score™ is 48/100 with 11 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 Hong Kong and China Gas Co (HOKCF), the current Forward Rate of Return (Yacktman) % is 4.48% 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 Hong Kong and China Gas Co (HOKCF) Overvalued in 2026?
Based on GuruFocus' analysis, Hong Kong and China Gas Co stock appears to be overvalued.
The current stock price of $0.87 is trading 4.7% above its estimated GF Value™ of $0.83.
GuruFocus considers Hong Kong and China Gas Co to be Fairly Valued.
Key valuation signals for HOKCF:
Forward Rate of Return (Yacktman) %: 4.48% (19% above median its 10-year median of 3.77)
GF Value™: $0.83 vs. price of $0.87 (4.7% above fair value)
Industry Position: 34.2% below the Utilities - Regulated median (#246 of 425)
No single metric tells the full story. See the HOKCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hong Kong and China Gas Co Ltd, is the oldest public utility company in Hong Kong. The company's core business comprises the production and distribution of town gas in Hong Kong, with a monopoly on distribution and retail. The company is also investing in water, upstream gas, and new energies. The Group's principal activities are the production, distribution, and marketing of gas and related products or services, water supply and waste treatment, renewable energy businesses, extended businesses, and fuels businesses (Green Fuels) in Hong Kong and the Chinese mainland. The company operates in three segments: Gas, water and waste treatment, renewable energy, extended businesses, and related businesses, Green Fuels, and Property.
48GF Score
Get the complete analysis for HOKCF
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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