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Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. VietinBank Securities JSC's forward rate of return for was 12.77%.
The historical rank and industry rank for VietinBank Securities JSC's Forward Rate of Return (Yacktman) % or its related term are showing as below:
STC:CTS'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -46.12 Med: -0.97 Max: 13.29
Current: 11.88
During the past 8 years, VietinBank Securities JSC's highest Forward Rate of Return was 13.29. The lowest was -46.12. And the median was -0.97.
STC:CTS's Forward Rate of Return (Yacktman) % is ranked better than 55.38% of 511
companies
in the Capital Markets industry
Industry Median: 9.7
vs STC:CTS: 11.88
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.
VietinBank Securities JSC Forward Rate of Return (Yacktman) % Related Terms
VietinBank Securities JSC Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for VietinBank Securities JSC'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.
VietinBank Securities JSC Forward Rate of Return (Yacktman) % Chart
STC:CTS vs MS, GS, SCHW: Forward Rate of Return (Yacktman) % Comparison
For the Capital Markets subindustry, VietinBank Securities JSC'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.
VietinBank Securities JSC Forward Rate of Return (Yacktman) % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, VietinBank Securities JSC's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where VietinBank Securities JSC's Forward Rate of Return (Yacktman) % falls into.
VietinBank Securities JSC 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 12.77% mean?
VietinBank Securities JSC (STC:CTS) has a Forward Rate of Return (Yacktman) % of 12.77% 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 VietinBank Securities JSC and its competitors. According to the industry distribution chart, VietinBank Securities JSC ranks #228 out of 511 companies in the Capital Markets industry, placing it in the top 44.6%.
Is VietinBank Securities JSC's Forward Rate of Return (Yacktman) % too high?
VietinBank Securities JSC's current Forward Rate of Return (Yacktman) % is 12.77%. The Capital Markets industry median Forward Rate of Return (Yacktman) % is 9.70. VietinBank Securities JSC's value of 12.77% is 31.6% above this industry median. Based on the distribution chart, VietinBank Securities JSC ranks #228 out of 511 companies in the Capital Markets industry, which is above the industry midpoint. Overall, VietinBank Securities JSC has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does VietinBank Securities JSC's Forward Rate of Return (Yacktman) % compare to MS and GS?
According to the Capital Markets industry distribution chart, VietinBank Securities JSC ranks #228 out of 511 companies for Forward Rate of Return (Yacktman) %. This puts VietinBank Securities JSC in the upper half of its industry. The industry median Forward Rate of Return (Yacktman) % is 9.70. VietinBank Securities JSC's value of 12.77% is 31.6% above this benchmark. 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 Capital Markets company?
The median Forward Rate of Return (Yacktman) % among Capital Markets companies is 9.70, based on 511 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. VietinBank Securities JSC's current Forward Rate of Return (Yacktman) % of 12.77% is 31.6% 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 VietinBank Securities JSC and its competitors. For the Capital Markets industry, the median Forward Rate of Return (Yacktman) % is 9.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VietinBank Securities JSC's current Forward Rate of Return (Yacktman) % is 12.77%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VietinBank Securities JSC stock overvalued right now?
Based on GuruFocus' analysis, VietinBank Securities JSC (STC:CTS) is currently considered Fairly Valued. The stock's GF Value™ is ₫21,856.18, compared to a current price of ₫22,900.00 — trading 4.8% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 12.77% and 31.6% above the Capital Markets industry median of 9.70. VietinBank Securities JSC's overall GF Score™ is 84/100 with 8 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 VietinBank Securities JSC (STC:CTS), the current Forward Rate of Return (Yacktman) % is 12.77% 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 VietinBank Securities JSC (STC:CTS) Overvalued in 2026?
Based on GuruFocus' analysis, VietinBank Securities JSC stock appears to be overvalued.
The current stock price of ₫22,900.00 is trading 4.8% above its estimated GF Value™ of ₫21,856.18.
GuruFocus considers VietinBank Securities JSC to be Fairly Valued.
Key valuation signals for STC:CTS:
Forward Rate of Return (Yacktman) %: 12.77%
GF Value™: ₫21,856.18 vs. price of ₫22,900.00 (4.8% above fair value)
Industry Position: 31.6% above the Capital Markets median (#228 of 511)
No single metric tells the full story. See the STC:CTS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
VietinBank Securities JSC is engaged in the provision of securities brokerage services, proprietary trading, securities investment advisory services, financial consultancy, underwriting securities, securities depository, and other services in accordance with laws and regulations applicable to securities companies. The company's operating business segments are: Brokerage and services, Proprietary trading, Underwriting, and Consultancy. Maximum revenue is generated from the Proprietary trading segment. Geographically, the company operates only in Vietnam.
84GF Score
Get the complete analysis for STC:CTS
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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