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.
Pioneer CementKAR:PIOC +0.54%86 Forward Rate of Return (Yacktman) % is 37.42% as of Mar. 2026. GuruFocus rates KAR:PIOC with a GF Score™ of 86/100 and a GF Value™ of ₨148.54 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 319 Building Materials companies, Pioneer Cement ranks better than 94.67% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Pioneer Cement's forward rate of return for was 37.42%.
The historical rank and industry rank for Pioneer Cement's Forward Rate of Return (Yacktman) % or its related term are showing as below:
KAR:PIOC'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -85.41 Med: -44.84 Max: 37.1
Current: 33.51
During the past 13 years, Pioneer Cement's highest Forward Rate of Return was 37.10. The lowest was -85.41. And the median was -44.84.
KAR:PIOC's Forward Rate of Return (Yacktman) % is ranked better than 94.67% of 319
companies
in the Building Materials industry
Industry Median: 7.96
vs KAR:PIOC: 33.51
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.
Pioneer Cement (KAR:PIOC) 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.
Pioneer Cement Forward Rate of Return (Yacktman) % Related Terms
Pioneer Cement Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Pioneer Cement'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.
Pioneer Cement Forward Rate of Return (Yacktman) % Chart
KAR:PIOC vs CRH, VMC, MLM: Forward Rate of Return (Yacktman) % Comparison
For the Building Materials subindustry, Pioneer Cement'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.
Pioneer Cement Forward Rate of Return (Yacktman) % vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, Pioneer Cement's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Pioneer Cement's Forward Rate of Return (Yacktman) % falls into.
Pioneer Cement 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 37.42% mean?
Pioneer Cement (KAR:PIOC) has a Forward Rate of Return (Yacktman) % of 37.42% as of Mar. 2026. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Pioneer Cement and its competitors. According to the industry distribution chart, Pioneer Cement ranks #17 out of 319 companies in the Building Materials industry, placing it in the top 5.3%.
Is Pioneer Cement's Forward Rate of Return (Yacktman) % too high?
Pioneer Cement's current Forward Rate of Return (Yacktman) % is 37.42%. The Building Materials industry median Forward Rate of Return (Yacktman) % is 7.96. Pioneer Cement's value of 37.42% is 370.1% above this industry median. Based on the distribution chart, Pioneer Cement ranks #17 out of 319 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, Pioneer Cement has a GF Score™ of 86/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pioneer Cement's Forward Rate of Return (Yacktman) % compare to CRH and VMC?
According to the Building Materials industry distribution chart, Pioneer Cement ranks #17 out of 319 companies for Forward Rate of Return (Yacktman) %. This places Pioneer Cement in the top 5% of its industry — outperforming the majority of peers. The industry median Forward Rate of Return (Yacktman) % is 7.96. Pioneer Cement's value of 37.42% is 370.1% above this benchmark. 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 Building Materials company?
The median Forward Rate of Return (Yacktman) % among Building Materials companies is 7.96, based on 319 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. Pioneer Cement's current Forward Rate of Return (Yacktman) % of 37.42% is 370.1% 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 Pioneer Cement and its competitors. For the Building Materials industry, the median Forward Rate of Return (Yacktman) % is 7.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pioneer Cement's current Forward Rate of Return (Yacktman) % is 37.42%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pioneer Cement stock overvalued right now?
Based on GuruFocus' analysis, Pioneer Cement (KAR:PIOC) is currently considered Significantly Overvalued. The stock's GF Value™ is ₨148.54, compared to a current price of ₨268.26 — trading 80.6% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 37.42% and 370.1% above the Building Materials industry median of 7.96. Pioneer Cement's overall GF Score™ is 86/100 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 Pioneer Cement (KAR:PIOC), the current Forward Rate of Return (Yacktman) % is 37.42% as of Mar. 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 Pioneer Cement (KAR:PIOC) Overvalued in 2026?
Based on GuruFocus' analysis, Pioneer Cement stock appears to be overvalued.
The current stock price of ₨268.26 is trading 80.6% above its estimated GF Value™ of ₨148.54.
GuruFocus considers Pioneer Cement to be Significantly Overvalued.
Key valuation signals for KAR:PIOC:
Forward Rate of Return (Yacktman) %: 37.42%
GF Value™: ₨148.54 vs. price of ₨268.26 (80.6% above fair value)
Industry Position: 370.1% above the Building Materials median (#17 of 319)
No single metric tells the full story. See the KAR:PIOC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pioneer Cement Ltd is a cement producer. The company's production facility is situated at Chenki, District Khushab in Punjab Province. The product range consists of Ordinary Portland Cement and Sulphate Resistant Cement. Its Ordinary Portland Cement is used for all structural work including all kinds of concrete construction and Sulphate Resistant Cement is used where sulfate salts are present in the soil or in saline water. Geographically, the company operates within Pakistan and Afghanistan and generates a majority of its revenue from Pakistan.
86GF Score
Get the complete analysis for KAR:PIOC
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
KAR:PIOC has been successfully added to your 
