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China BankingPHS:CBC 77 Forward Rate of Return (Yacktman) % is 38.67% as of Mar. 2026, which is 15% below its 10-year median of 45.55. GuruFocus rates PHS:CBC with a GF Score™ of 77/100 and a GF Value™ of ₱58.59 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,416 Banks companies, China Banking ranks better than 87.29% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. China Banking's forward rate of return for was 38.67%.
The historical rank and industry rank for China Banking's Forward Rate of Return (Yacktman) % or its related term are showing as below:
PHS:CBC'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 11.53 Med: 45.55 Max: 82.04
Current: 43.01
During the past 13 years, China Banking's highest Forward Rate of Return was 82.04. The lowest was 11.53. And the median was 45.55.
PHS:CBC's Forward Rate of Return (Yacktman) % is ranked better than 87.29% of 1416
companies
in the Banks industry
Industry Median: 15.385
vs PHS:CBC: 43.01
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.
China Banking (PHS:CBC) 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.
China Banking Forward Rate of Return (Yacktman) % Related Terms
China Banking Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for China Banking'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.
China Banking Forward Rate of Return (Yacktman) % Chart
China Banking Forward Rate of Return (Yacktman) % Competitor Comparison
For the Banks - Regional subindustry, China Banking'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.
China Banking Forward Rate of Return (Yacktman) % vs Banks Industry
For the Banks industry and Financial Services sector, China Banking's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where China Banking's Forward Rate of Return (Yacktman) % falls into.
China Banking 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).
China Banking's Forward Rate of Return of Mar. 2026 is
Forward Rate of Return
=
Normalized Free Cash Flow
/
Price
+
5-Year Book Value Growth Rate
=
16.98419048
/
64
+
0.1213
=
38.67 %
* 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 38.67% mean?
China Banking (PHS:CBC) has a Forward Rate of Return (Yacktman) % of 38.67% 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 China Banking and its competitors. This is 15% below median its historical median of 45.55. Over the past decade, China Banking's Forward Rate of Return (Yacktman) % has ranged from 11.53 to 82.04. According to the industry distribution chart, China Banking ranks #180 out of 1416 companies in the Banks industry, placing it in the top 12.7%.
Is China Banking's Forward Rate of Return (Yacktman) % too high?
China Banking's current Forward Rate of Return (Yacktman) % of 38.67% is 15% below median its 10-year median of 45.55. Over the past 10 years, this metric has ranged from a low of 11.53 to a high of 82.04. The Banks industry median Forward Rate of Return (Yacktman) % is 15.39. China Banking's value of 38.67% is 151.3% above this industry median. Based on the distribution chart, China Banking ranks #180 out of 1416 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, China Banking has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does China Banking's Forward Rate of Return (Yacktman) % compare to competitors?
According to the Banks industry distribution chart, China Banking ranks #180 out of 1416 companies for Forward Rate of Return (Yacktman) %. This places China Banking in the top 13% of its industry — outperforming the majority of peers. The industry median Forward Rate of Return (Yacktman) % is 15.39. China Banking's value of 38.67% is 151.3% above this benchmark. Historically, China Banking's own Forward Rate of Return (Yacktman) % has ranged from 11.53 to 82.04 over the past decade. While the company's 10-year median is 45.55 vs. the industry median of 15.39, China Banking 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 a Banks company?
The median Forward Rate of Return (Yacktman) % among Banks companies is 15.39, based on 1,416 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. China Banking's current Forward Rate of Return (Yacktman) % of 38.67% is 151.3% 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 China Banking and its competitors. For the Banks industry, the median Forward Rate of Return (Yacktman) % is 15.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Banking's current Forward Rate of Return (Yacktman) % is 38.67%, which is 15% below median its own 10-year median of 45.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Banking stock overvalued right now?
Based on GuruFocus' analysis, China Banking (PHS:CBC) is currently considered Fairly Valued. The stock's GF Value™ is ₱58.59, compared to a current price of ₱55.00 — trading 6.1% below its estimated fair value. The current Forward Rate of Return (Yacktman) % is 38.67%, which is 15% below median its 10-year median of 45.55 and 151.3% above the Banks industry median of 15.39. China Banking's overall GF Score™ is 77/100 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 China Banking (PHS:CBC), the current Forward Rate of Return (Yacktman) % is 38.67% 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 China Banking (PHS:CBC) Overvalued in 2026?
Based on GuruFocus' analysis, China Banking stock appears to be undervalued.
The current stock price of ₱55.00 is trading 6.1% below its estimated GF Value™ of ₱58.59.
GuruFocus considers China Banking to be Fairly Valued.
Key valuation signals for PHS:CBC:
Forward Rate of Return (Yacktman) %: 38.67% (15% below median its 10-year median of 45.55)
GF Value™: ₱58.59 vs. price of ₱55.00 (6.1% below fair value)
Industry Position: 151.3% above the Banks median (#180 of 1416)
No single metric tells the full story. See the PHS:CBC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Banking Corp is a commercial bank engaged in corporate and SME lending, retail loans including mortgage and auto loans, treasury and foreign exchange trading, trust and investment management, wealth management, cash management, and insurance products. The group's five business segments, namely, Institutional Banking, Consumer Banking, Retail Banking Business, Financial Markets, and Others, which include credit management, thrift banking business, operations and financial control, and other support services. The majority of the company's revenue comes from the Retail Banking Business.
77GF Score
Get the complete analysis for PHS:CBC
Forward Rate of Return (Yacktman) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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