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Adani Total GasNSE:ATGL +12.56%91 Forward Rate of Return (Yacktman) % is 9.62% as of Jun. 2026, which is 41% below its 10-year median of 16.37. GuruFocus rates NSE:ATGL with a GF Score™ of 91/100 and a GF Value™ of ₹844.78 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 426 Utilities - Regulated companies, Adani Total Gas 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. Adani Total Gas's forward rate of return for was 9.62%.
The historical rank and industry rank for Adani Total Gas's Forward Rate of Return (Yacktman) % or its related term are showing as below:
NSE:ATGL'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 9.94 Med: 16.37 Max: 21.33
Current: 11.91
During the past 11 years, Adani Total Gas's highest Forward Rate of Return was 21.33. The lowest was 9.94. And the median was 16.37.
NSE:ATGL's Forward Rate of Return (Yacktman) % is ranked better than 67.14% of 426
companies
in the Utilities - Regulated industry
Industry Median: 6.62
vs NSE:ATGL: 11.91
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.
Adani Total Gas (NSE:ATGL) 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.
Adani Total Gas Forward Rate of Return (Yacktman) % Related Terms
Adani Total Gas Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Adani Total Gas'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.
Adani Total Gas Forward Rate of Return (Yacktman) % Chart
NSE:ATGL vs ATO, NI, UGI: Forward Rate of Return (Yacktman) % Comparison
For the Utilities - Regulated Gas subindustry, Adani Total Gas'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.
Adani Total Gas Forward Rate of Return (Yacktman) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Adani Total Gas's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Adani Total Gas's Forward Rate of Return (Yacktman) % falls into.
Adani Total Gas 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 9.62% mean?
Adani Total Gas (NSE:ATGL) has a Forward Rate of Return (Yacktman) % of 9.62% 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 Adani Total Gas and its competitors. This is 41% below median its historical median of 16.37. Over the past decade, Adani Total Gas' Forward Rate of Return (Yacktman) % has ranged from 9.94 to 21.33. According to the industry distribution chart, Adani Total Gas ranks #140 out of 426 companies in the Utilities - Regulated industry, placing it in the top 32.9%.
Is Adani Total Gas' Forward Rate of Return (Yacktman) % too high?
Adani Total Gas' current Forward Rate of Return (Yacktman) % of 9.62% is 41% below median its 10-year median of 16.37. Over the past 10 years, this metric has ranged from a low of 9.94 to a high of 21.33. The Utilities - Regulated industry median Forward Rate of Return (Yacktman) % is 6.62. Adani Total Gas' value of 9.62% is 45.3% above this industry median. Based on the distribution chart, Adani Total Gas ranks #140 out of 426 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Adani Total Gas has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adani Total Gas' Forward Rate of Return (Yacktman) % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Adani Total Gas ranks #140 out of 426 companies for Forward Rate of Return (Yacktman) %. This puts Adani Total Gas in the upper half of its industry. The industry median Forward Rate of Return (Yacktman) % is 6.62. Adani Total Gas' value of 9.62% is 45.3% above this benchmark. Historically, Adani Total Gas' own Forward Rate of Return (Yacktman) % has ranged from 9.94 to 21.33 over the past decade. While the company's 10-year median is 16.37 vs. the industry median of 6.62, Adani Total Gas 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 6.62, 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. Adani Total Gas's current Forward Rate of Return (Yacktman) % of 9.62% is 45.3% 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 Adani Total Gas and its competitors. For the Utilities - Regulated industry, the median Forward Rate of Return (Yacktman) % is 6.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adani Total Gas's current Forward Rate of Return (Yacktman) % is 9.62%, which is 41% below median its own 10-year median of 16.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adani Total Gas stock overvalued right now?
Based on GuruFocus' analysis, Adani Total Gas (NSE:ATGL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹844.78, compared to a current price of ₹638.40 — trading 24.4% below its estimated fair value. The current Forward Rate of Return (Yacktman) % is 9.62%, which is 41% below median its 10-year median of 16.37 and 45.3% above the Utilities - Regulated industry median of 6.62. Adani Total Gas' overall GF Score™ is 91/100 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 Adani Total Gas (NSE:ATGL), the current Forward Rate of Return (Yacktman) % is 9.62% 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 Adani Total Gas (NSE:ATGL) Overvalued in 2026?
Based on GuruFocus' analysis, Adani Total Gas stock appears to be undervalued.
The current stock price of ₹638.40 is trading 24.4% below its estimated GF Value™ of ₹844.78.
GuruFocus considers Adani Total Gas to be Modestly Undervalued.
Key valuation signals for NSE:ATGL:
Forward Rate of Return (Yacktman) %: 9.62% (41% below median its 10-year median of 16.37)
GF Value™: ₹844.78 vs. price of ₹638.40 (24.4% below fair value)
Industry Position: 45.3% above the Utilities - Regulated median (#140 of 426)
No single metric tells the full story. See the NSE:ATGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adani Total Gas Ltd is engaged in the City Gas Distribution (CGD) business and supplies natural gas to domestic, commercial, industrial, and vehicle users. The company is exploring doing business in bio gas, bio fuel, bio mass, LCNG, HCNG, EV, Hydrogen, manufacturing of various equipment, and provision of value-added services relating to CGD business. It is developing City Gas Distribution (CGD) Networks to supply the Piped Natural Gas (PNG) to the Industrial, Commercial, Domestic (residential), and Compressed Natural Gas (CNG) to the transport sector. Natural Gas is a convenient, reliable, and environmentally friendly fuel that allows consumers to enjoy a high level of safety, convenience, and economic efficiency. The Group has a single operating segment that is the sale of Natural Gas.
91GF Score
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