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Iren SpAMIL:IRE +0.08%78 Forward Rate of Return (Yacktman) % is 12.16% as of Jun. 2026, which is 7% below its 10-year median of 13.04. GuruFocus rates MIL:IRE with a GF Score™ of 78/100 and a GF Value™ of €2.25 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 426 Utilities - Regulated companies, Iren SpA ranks better than 67.14% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Iren SpA's forward rate of return for was 12.16%.
The historical rank and industry rank for Iren SpA's Forward Rate of Return (Yacktman) % or its related term are showing as below:
MIL:IRE'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 7.99 Med: 13.04 Max: 28.38
Current: 12.11
During the past 13 years, Iren SpA's highest Forward Rate of Return was 28.38. The lowest was 7.99. And the median was 13.04.
MIL:IRE's Forward Rate of Return (Yacktman) % is ranked better than 67.14% of 426
companies
in the Utilities - Regulated industry
Industry Median: 6.425
vs MIL:IRE: 12.11
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.
Iren SpA (MIL:IRE) 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.
Iren SpA Forward Rate of Return (Yacktman) % Related Terms
Iren SpA Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Iren SpA'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.
Iren SpA Forward Rate of Return (Yacktman) % Chart
MIL:IRE vs SRE: Forward Rate of Return (Yacktman) % Comparison
For the Utilities - Diversified subindustry, Iren SpA'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.
Iren SpA Forward Rate of Return (Yacktman) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Iren SpA's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Iren SpA's Forward Rate of Return (Yacktman) % falls into.
Iren SpA 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 12.16% mean?
Iren SpA (MIL:IRE) has a Forward Rate of Return (Yacktman) % of 12.16% 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 Iren SpA and its competitors. This is near median its historical median of 13.04. Over the past decade, Iren SpA's Forward Rate of Return (Yacktman) % has ranged from 7.99 to 28.38. According to the industry distribution chart, Iren SpA ranks #140 out of 426 companies in the Utilities - Regulated industry, placing it in the top 32.9%.
Is Iren SpA's Forward Rate of Return (Yacktman) % too high?
Iren SpA's current Forward Rate of Return (Yacktman) % of 12.16% is near median its 10-year median of 13.04. Over the past 10 years, this metric has ranged from a low of 7.99 to a high of 28.38. The Utilities - Regulated industry median Forward Rate of Return (Yacktman) % is 6.43. Iren SpA's value of 12.16% is 89.3% above this industry median. Based on the distribution chart, Iren SpA ranks #140 out of 426 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Iren SpA has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Iren SpA's Forward Rate of Return (Yacktman) % compare to SRE?
According to the Utilities - Regulated industry distribution chart, Iren SpA ranks #140 out of 426 companies for Forward Rate of Return (Yacktman) %. This puts Iren SpA in the upper half of its industry. The industry median Forward Rate of Return (Yacktman) % is 6.43. Iren SpA's value of 12.16% is 89.3% above this benchmark. Historically, Iren SpA's own Forward Rate of Return (Yacktman) % has ranged from 7.99 to 28.38 over the past decade. While the company's 10-year median is 13.04 vs. the industry median of 6.43, Iren SpA 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 Utilities - Regulated company?
The median Forward Rate of Return (Yacktman) % among Utilities - Regulated companies is 6.43, based on 426 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. Iren SpA's current Forward Rate of Return (Yacktman) % of 12.16% is 89.3% 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 Iren SpA and its competitors. For the Utilities - Regulated industry, the median Forward Rate of Return (Yacktman) % is 6.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Iren SpA's current Forward Rate of Return (Yacktman) % is 12.16%, which is near median its own 10-year median of 13.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Iren SpA stock overvalued right now?
Based on GuruFocus' analysis, Iren SpA (MIL:IRE) is currently considered Modestly Overvalued. The stock's GF Value™ is €2.25, compared to a current price of €2.51 — trading 11.6% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 12.16%, which is near median its 10-year median of 13.04 and 89.3% above the Utilities - Regulated industry median of 6.43. Iren SpA's overall GF Score™ is 78/100 with 3 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 Iren SpA (MIL:IRE), the current Forward Rate of Return (Yacktman) % is 12.16% 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 Iren SpA (MIL:IRE) Overvalued in 2026?
Based on GuruFocus' analysis, Iren SpA stock appears to be overvalued.
The current stock price of €2.51 is trading 11.6% above its estimated GF Value™ of €2.25.
GuruFocus considers Iren SpA to be Modestly Overvalued.
Key valuation signals for MIL:IRE:
Forward Rate of Return (Yacktman) %: 12.16% (near median its 10-year median of 13.04)
GF Value™: €2.25 vs. price of €2.51 (11.6% above fair value)
Industry Position: 89.3% above the Utilities - Regulated median (#140 of 426)
No single metric tells the full story. See the MIL:IRE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Iren SpA is a multi-service Italian utilities holding company that produces and distributes electricity and natural gas. It also provides district heating, water, and environmental services. Iren has five operating companies that include Iren Acqua Gas, Iren Energia (electricity and thermal production), Iren Mercato (sale of electricity, gas, and district heating), Iren Emilia (gas distribution), and Iren Ambiente (environmental services). The company primarily uses hydroelectric, cogeneration, and wind power as energy sources. The majority of revenue is derived from the distribution and sale of electricity and natural gas products and services.
78GF Score
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