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Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Steel Partners Holdings LP's forward rate of return for was 22.76%.
The historical rank and industry rank for Steel Partners Holdings LP's Forward Rate of Return (Yacktman) % or its related term are showing as below:
SPLP'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 17.53 Med: 25.07 Max: 81.14
Current: 22.15
During the past 13 years, Steel Partners Holdings LP's highest Forward Rate of Return was 81.14. The lowest was 17.53. And the median was 25.07.
SPLP's Forward Rate of Return (Yacktman) % is not ranked
in the Conglomerates industry.
Industry Median: 13.685
vs SPLP: 22.15
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 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.
Steel Partners Holdings LP Forward Rate of Return (Yacktman) % Related Terms
Steel Partners Holdings LP Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Steel Partners Holdings LP'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.
SPLP vs MATW, DLX, FIP: Forward Rate of Return (Yacktman) % Comparison
For the Conglomerates subindustry, Steel Partners Holdings LP'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.
Steel Partners Holdings LP Forward Rate of Return (Yacktman) % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Steel Partners Holdings LP's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Steel Partners Holdings LP'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 22.76% mean?
Steel Partners Holdings LP (SPLP) has a Forward Rate of Return (Yacktman) % of 22.76% as of Sep. 2025. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Steel Partners Holdings LP and its competitors. This is near median its historical median of 25.07. Over the past decade, Steel Partners Holdings LP's Forward Rate of Return (Yacktman) % has ranged from 17.53 to 81.14.
Is Steel Partners Holdings LP's Forward Rate of Return (Yacktman) % too high?
Steel Partners Holdings LP's current Forward Rate of Return (Yacktman) % of 22.76% is near median its 10-year median of 25.07. Over the past 10 years, this metric has ranged from a low of 17.53 to a high of 81.14. The Conglomerates industry median Forward Rate of Return (Yacktman) % is 13.69. Steel Partners Holdings LP's value of 22.76% is 66.3% above this industry median. Overall, Steel Partners Holdings LP has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Steel Partners Holdings LP's Forward Rate of Return (Yacktman) % compare to MATW and DLX?
Steel Partners Holdings LP's Forward Rate of Return (Yacktman) % of 22.76% can be compared against companies in the Conglomerates industry. The industry median Forward Rate of Return (Yacktman) % is 13.69. Steel Partners Holdings LP's value of 22.76% is 66.3% above this benchmark. Historically, Steel Partners Holdings LP's own Forward Rate of Return (Yacktman) % has ranged from 17.53 to 81.14 over the past decade. While the company's 10-year median is 25.07 vs. the industry median of 13.69, Steel Partners Holdings LP 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 Conglomerates company?
The median Forward Rate of Return (Yacktman) % among Conglomerates companies is 13.69, based on 428 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. Steel Partners Holdings LP's current Forward Rate of Return (Yacktman) % of 22.76% is 66.3% 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 Steel Partners Holdings LP and its competitors. For the Conglomerates industry, the median Forward Rate of Return (Yacktman) % is 13.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steel Partners Holdings LP's current Forward Rate of Return (Yacktman) % is 22.76%, which is near median its own 10-year median of 25.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steel Partners Holdings LP stock overvalued right now?
Steel Partners Holdings LP (SPLP) has a current Forward Rate of Return (Yacktman) % of 22.76%. The stock's GF Value™ is $51.26, compared to a current price of $50.00 — trading 2.5% below its estimated fair value. The current Forward Rate of Return (Yacktman) % is 22.76%, which is near median its 10-year median of 25.07 and 66.3% above the Conglomerates industry median of 13.69. Steel Partners Holdings LP's overall GF Score™ is 66/100 with 5 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 Steel Partners Holdings LP (SPLP), the current Forward Rate of Return (Yacktman) % is 22.76% as of Sep. 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.
Is Steel Partners Holdings LP (SPLP) Overvalued in 2026?
Based on GuruFocus' analysis, Steel Partners Holdings LP stock appears to be undervalued.
The current stock price of $50.00 is trading 2.5% below its estimated GF Value™ of $51.26.
Key valuation signals for SPLP:
Forward Rate of Return (Yacktman) %: 22.76% (near median its 10-year median of 25.07)
GF Value™: $51.26 vs. price of $50.00 (2.5% below fair value)
Industry Position: 66.3% above the Conglomerates median
No single metric tells the full story. See the SPLP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steel Partners Holdings LP operates in industrial products, energy, defense, supply chain management and logistics, banking, and youth sports industries. Its segments include the Diversified Industrial segment comprised of manufacturers of engineered niche industrial products, joining materials, tubing, building materials, performance materials etc; the Energy segment provides drilling and production services to the oil and gas industry and owns a youth sports business; the Financial Services segment consists of the operations of WebBank, a Utah chartered industrial bank, which engages in full range of banking activities; The Supply Chain segment consists of end-to-end world-wide supply; and Corporate and Other consists of equity method and other investments, and cash and cash equivalents.
66GF Score
Get the complete analysis for SPLP
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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