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.
VPC Specialty Lending InvestmentsLSE:VSL -0.47%21 Forward Rate of Return (Yacktman) % is 102.26% as of Dec. 2025, which is 610% above its 10-year median of 14.41. GuruFocus rates LSE:VSL with a GF Score™ of 21/100. The stock has 2 warning signs investors should review. Among 1,172 Asset Management companies, VPC Specialty Lending Investments ranks better than 99.49% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. VPC Specialty Lending Investments's forward rate of return for was 102.26%.
The historical rank and industry rank for VPC Specialty Lending Investments's Forward Rate of Return (Yacktman) % or its related term are showing as below:
LSE:VSL'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -7.4 Med: 14.41 Max: 161.25
Current: 161.25
During the past 11 years, VPC Specialty Lending Investments's highest Forward Rate of Return was 161.25. The lowest was -7.40. And the median was 14.41.
LSE:VSL's Forward Rate of Return (Yacktman) % is ranked better than 99.49% of 1172
companies
in the Asset Management industry
Industry Median: 4.485
vs LSE:VSL: 161.25
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 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.
VPC Specialty Lending Investments Forward Rate of Return (Yacktman) % Related Terms
VPC Specialty Lending Investments 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.
LSE:VSL vs BLK, BX, KKR: Forward Rate of Return (Yacktman) % Comparison
For the Asset Management subindustry, VPC Specialty Lending Investments'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.
VPC Specialty Lending Investments Forward Rate of Return (Yacktman) % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, VPC Specialty Lending Investments's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where VPC Specialty Lending Investments'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 102.26% mean?
VPC Specialty Lending Investments (LSE:VSL) has a Forward Rate of Return (Yacktman) % of 102.26% 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 VPC Specialty Lending Investments and its competitors. This is 610% above median its historical median of 14.41. According to the industry distribution chart, VPC Specialty Lending Investments ranks #6 out of 1172 companies in the Asset Management industry, placing it in the top 0.5%.
Is VPC Specialty Lending Investments' Forward Rate of Return (Yacktman) % too high?
VPC Specialty Lending Investments' current Forward Rate of Return (Yacktman) % of 102.26% is 610% above median its 10-year median of 14.41. The Asset Management industry median Forward Rate of Return (Yacktman) % is 4.49. VPC Specialty Lending Investments' value of 102.26% is 2180% above this industry median. Based on the distribution chart, VPC Specialty Lending Investments ranks #6 out of 1172 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, VPC Specialty Lending Investments has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does VPC Specialty Lending Investments' Forward Rate of Return (Yacktman) % compare to BLK and BX?
According to the Asset Management industry distribution chart, VPC Specialty Lending Investments ranks #6 out of 1172 companies for Forward Rate of Return (Yacktman) %. This places VPC Specialty Lending Investments in the top 1% of its industry — outperforming the majority of peers. The industry median Forward Rate of Return (Yacktman) % is 4.49. VPC Specialty Lending Investments' value of 102.26% is 2180% above this benchmark. While the company's 10-year median is 14.41 vs. the industry median of 4.49, VPC Specialty Lending Investments 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 4.49, based on 1,172 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. VPC Specialty Lending Investments's current Forward Rate of Return (Yacktman) % of 102.26% is 2180% 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 VPC Specialty Lending Investments and its competitors. For the Asset Management industry, the median Forward Rate of Return (Yacktman) % is 4.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VPC Specialty Lending Investments's current Forward Rate of Return (Yacktman) % is 102.26%, which is 610% above median its own 10-year median of 14.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VPC Specialty Lending Investments stock overvalued right now?
VPC Specialty Lending Investments (LSE:VSL) has a current Forward Rate of Return (Yacktman) % of 102.26%. The current Forward Rate of Return (Yacktman) % is 102.26%, which is 610% above median its 10-year median of 14.41 and 2180% above the Asset Management industry median of 4.49. VPC Specialty Lending Investments' overall GF Score™ is 21/100 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 VPC Specialty Lending Investments (LSE:VSL), the current Forward Rate of Return (Yacktman) % is 102.26% 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.
VPC Specialty Lending Investments PLC is an investment trust based in the United Kingdom that invests in asset-backed lending to emerging and established businesses to build long-term, sustainable income generation. It focuses on providing capital to vital segments of the economy that are underserved by the traditional banking industry, including small businesses, working capital products, consumer finance, and real estate, among others. It is managed by Victory Park Capital Advisors, LLC. The company invests across several portfolio companies, asset classes, geographies, and credit bands to create a diversified portfolio.
21GF Score
Get the complete analysis for LSE:VSL
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
LSE:VSL has been successfully added to your 
