Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
STC:HDB's Forward Rate of Return (Yacktman) % is ranked better than 86.17% of 1417
companies
in the Banks industry
Industry Median: 15.58
vs STC:HDB: 39.83
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.
Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB) 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.
Ho Chi Minh City Development Joint Stock Commercial Bank Forward Rate of Return (Yacktman) % Related Terms
Ho Chi Minh City Development Joint Stock Commercial Bank Forward Rate of Return (Yacktman) % Historical Data
* 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.
Ho Chi Minh City Development Joint Stock Commercial Bank Forward Rate of Return (Yacktman) % Chart
Ho Chi Minh City Development Joint Stock Commercial Bank Annual Data
Ho Chi Minh City Development Joint Stock Commercial Bank Forward Rate of Return (Yacktman) % Competitor Comparison
For the Banks - Regional subindustry, Ho Chi Minh City Development Joint Stock Commercial Bank'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.
Ho Chi Minh City Development Joint Stock Commercial Bank Forward Rate of Return (Yacktman) % vs Banks Industry
Ho Chi Minh City Development Joint Stock Commercial Bank 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 41.33% mean?
Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB) has a Forward Rate of Return (Yacktman) % of 41.33% 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 Ho Chi Minh City Development Joint Stock Commercial Bank and its competitors. This is near median its historical median of 42.98. Over the past decade, Ho Chi Minh City Development Joint Stock Commercial Bank's Forward Rate of Return (Yacktman) % has ranged from 9.99 to 48.14. According to the industry distribution chart, Ho Chi Minh City Development Joint Stock Commercial Bank ranks #196 out of 1417 companies in the Banks industry, placing it in the top 13.8%.
Is Ho Chi Minh City Development Joint Stock Commercial Bank's Forward Rate of Return (Yacktman) % too high?
Ho Chi Minh City Development Joint Stock Commercial Bank's current Forward Rate of Return (Yacktman) % of 41.33% is near median its 10-year median of 42.98. Over the past 10 years, this metric has ranged from a low of 9.99 to a high of 48.14. The Banks industry median Forward Rate of Return (Yacktman) % is 15.58. Ho Chi Minh City Development Joint Stock Commercial Bank's value of 41.33% is 165.3% above this industry median. Based on the distribution chart, Ho Chi Minh City Development Joint Stock Commercial Bank ranks #196 out of 1417 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Ho Chi Minh City Development Joint Stock Commercial Bank has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ho Chi Minh City Development Joint Stock Commercial Bank's Forward Rate of Return (Yacktman) % compare to competitors?
According to the Banks industry distribution chart, Ho Chi Minh City Development Joint Stock Commercial Bank ranks #196 out of 1417 companies for Forward Rate of Return (Yacktman) %. This places Ho Chi Minh City Development Joint Stock Commercial Bank in the top 14% of its industry — outperforming the majority of peers. The industry median Forward Rate of Return (Yacktman) % is 15.58. Ho Chi Minh City Development Joint Stock Commercial Bank's value of 41.33% is 165.3% above this benchmark. Historically, Ho Chi Minh City Development Joint Stock Commercial Bank's own Forward Rate of Return (Yacktman) % has ranged from 9.99 to 48.14 over the past decade. While the company's 10-year median is 42.98 vs. the industry median of 15.58, Ho Chi Minh City Development Joint Stock Commercial Bank 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 15.58, based on 1,417 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. Ho Chi Minh City Development Joint Stock Commercial Bank's current Forward Rate of Return (Yacktman) % of 41.33% is 165.3% 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 Ho Chi Minh City Development Joint Stock Commercial Bank and its competitors. For the Banks industry, the median Forward Rate of Return (Yacktman) % is 15.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ho Chi Minh City Development Joint Stock Commercial Bank's current Forward Rate of Return (Yacktman) % is 41.33%, which is near median its own 10-year median of 42.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ho Chi Minh City Development Joint Stock Commercial Bank stock overvalued right now?
Based on GuruFocus' analysis, Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB) is currently considered Modestly Overvalued. The stock's GF Value™ is ₫24,192.91, compared to a current price of ₫27,800.00 — trading 14.9% above its estimated fair value. The current Forward Rate of Return (Yacktman) % is 41.33%, which is near median its 10-year median of 42.98 and 165.3% above the Banks industry median of 15.58. Ho Chi Minh City Development Joint Stock Commercial Bank's overall GF Score™ is 74/100 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 Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB), the current Forward Rate of Return (Yacktman) % is 41.33% 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 Ho Chi Minh City Development Joint Stock Commercial Bank (STC:HDB) Overvalued in 2026?
Based on GuruFocus' analysis, Ho Chi Minh City Development Joint Stock Commercial Bank stock appears to be overvalued.
The current stock price of ₫27,800.00 is trading 14.9% above its estimated GF Value™ of ₫24,192.91.
GuruFocus considers Ho Chi Minh City Development Joint Stock Commercial Bank to be Modestly Overvalued.
Key valuation signals for STC:HDB:
Forward Rate of Return (Yacktman) %: 41.33% (near median its 10-year median of 42.98)
GF Value™: ₫24,192.91 vs. price of ₫27,800.00 (14.9% above fair value)
Industry Position: 165.3% above the Banks median (#196 of 1417)
No single metric tells the full story. See the STC:HDB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ho Chi Minh City Development Joint Stock Commercial Bank is a Vietnamese commercial bank providing personal and commercial banking services to retail customers, corporations, and investors.
74GF Score
Get the complete analysis for STC:HDB
Forward Rate of Return (Yacktman) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
STC:HDB has been successfully added to your 
