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Polar Capital Technology TrustLSE:PCT +0.76%34 Forward Rate of Return (Yacktman) % is 21.95% as of Apr. 2026, which is 9% above its 10-year median of 20.09. GuruFocus rates LSE:PCT with a GF Score™ of 34/100. The stock has 4 warning signs investors should review. Among 1,173 Asset Management companies, Polar Capital Technology Trust ranks better than 90.37% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Polar Capital Technology Trust's forward rate of return for was 21.95%.
The historical rank and industry rank for Polar Capital Technology Trust's Forward Rate of Return (Yacktman) % or its related term are showing as below:
LSE:PCT'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 11.73 Med: 20.09 Max: 21.91
Current: 21.73
During the past 13 years, Polar Capital Technology Trust's highest Forward Rate of Return was 21.91. The lowest was 11.73. And the median was 20.09.
LSE:PCT's Forward Rate of Return (Yacktman) % is ranked better than 90.37% of 1173
companies
in the Asset Management industry
Industry Median: 4.44
vs LSE:PCT: 21.73
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.
Polar Capital Technology Trust (LSE:PCT) 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 Book Value 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.
Polar Capital Technology Trust Forward Rate of Return (Yacktman) % Related Terms
Polar Capital Technology Trust 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.
Polar Capital Technology Trust Forward Rate of Return (Yacktman) % Chart
LSE:PCT vs BLK, BX, KKR: Forward Rate of Return (Yacktman) % Comparison
For the Asset Management subindustry, Polar Capital Technology Trust'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.
Polar Capital Technology Trust Forward Rate of Return (Yacktman) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Polar Capital Technology Trust's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Polar Capital Technology Trust's Forward Rate of Return (Yacktman) % falls into.
Polar Capital Technology Trust 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 21.95% mean?
Polar Capital Technology Trust (LSE:PCT) has a Forward Rate of Return (Yacktman) % of 21.95% as of Apr. 2026. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Polar Capital Technology Trust and its competitors. This is near median its historical median of 20.09. Over the past decade, Polar Capital Technology Trust's Forward Rate of Return (Yacktman) % has ranged from 11.73 to 21.91. According to the industry distribution chart, Polar Capital Technology Trust ranks #113 out of 1173 companies in the Asset Management industry, placing it in the top 9.6%.
Is Polar Capital Technology Trust's Forward Rate of Return (Yacktman) % too high?
Polar Capital Technology Trust's current Forward Rate of Return (Yacktman) % of 21.95% is near median its 10-year median of 20.09. Over the past 10 years, this metric has ranged from a low of 11.73 to a high of 21.91. The Asset Management industry median Forward Rate of Return (Yacktman) % is 4.44. Polar Capital Technology Trust's value of 21.95% is 394.4% above this industry median. Based on the distribution chart, Polar Capital Technology Trust ranks #113 out of 1173 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Polar Capital Technology Trust has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does Polar Capital Technology Trust's Forward Rate of Return (Yacktman) % compare to BLK and BX?
According to the Asset Management industry distribution chart, Polar Capital Technology Trust ranks #113 out of 1173 companies for Forward Rate of Return (Yacktman) %. This places Polar Capital Technology Trust in the top 10% of its industry — outperforming the majority of peers. The industry median Forward Rate of Return (Yacktman) % is 4.44. Polar Capital Technology Trust's value of 21.95% is 394.4% above this benchmark. Historically, Polar Capital Technology Trust's own Forward Rate of Return (Yacktman) % has ranged from 11.73 to 21.91 over the past decade. While the company's 10-year median is 20.09 vs. the industry median of 4.44, Polar Capital Technology Trust 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 Asset Management company?
The median Forward Rate of Return (Yacktman) % among Asset Management companies is 4.44, based on 1,173 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. Polar Capital Technology Trust's current Forward Rate of Return (Yacktman) % of 21.95% is 394.4% 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 Polar Capital Technology Trust and its competitors. For the Asset Management industry, the median Forward Rate of Return (Yacktman) % is 4.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Polar Capital Technology Trust's current Forward Rate of Return (Yacktman) % is 21.95%, which is near median its own 10-year median of 20.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Polar Capital Technology Trust stock overvalued right now?
Polar Capital Technology Trust (LSE:PCT) has a current Forward Rate of Return (Yacktman) % of 21.95%. The current Forward Rate of Return (Yacktman) % is 21.95%, which is near median its 10-year median of 20.09 and 394.4% above the Asset Management industry median of 4.44. Polar Capital Technology Trust's overall GF Score™ is 34/100 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 Polar Capital Technology Trust (LSE:PCT), the current Forward Rate of Return (Yacktman) % is 21.95% as of Apr. 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.
Polar Capital Technology Trust PLC is a UK-based investment trust company. The company has an investment objective to achieve long-term capital growth by investing in a diversified portfolio of technology companies world-wide. Geographically, the company generates investment income from North America, Europe, and the Asia Pacific region. It invests in sectors such as Software, Interactive Media and Services, Semiconductors and Semiconductor Equipment, Technology Hardware, Storage and Peripherals, Internet and Direct Marketing Retail, IT Services, Entertainment, and others.
34GF Score
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