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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.
Also Holding AGXSWX:ALSN +1.26%56 Forward Rate of Return (Yacktman) % is 8.59% as of Dec. 2025, which is 21% below its 10-year median of 10.90. GuruFocus rates XSWX:ALSN with a GF Score™ of 56/100 and a GF Value™ of CHF324.26 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 1,716 Hardware companies, Also Holding AG ranks better than 60.66% on this metric.
Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation. Also Holding AG's forward rate of return for was 8.59%.
The historical rank and industry rank for Also Holding AG's Forward Rate of Return (Yacktman) % or its related term are showing as below:
XSWX:ALSN'
s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: 7.04 Med: 10.9 Max: 22.58
Current: 9.75
During the past 13 years, Also Holding AG's highest Forward Rate of Return was 22.58. The lowest was 7.04. And the median was 10.90.
XSWX:ALSN's Forward Rate of Return (Yacktman) % is ranked better than 60.66% of 1716
companies
in the Hardware industry
Industry Median: 4.485
vs XSWX:ALSN: 9.75
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.
Also Holding AG (XSWX:ALSN) 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.
Also Holding AG Forward Rate of Return (Yacktman) % Related Terms
Also Holding AG Forward Rate of Return (Yacktman) % Historical Data
* Premium members only.
The historical data trend for Also Holding AG'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.
Also Holding AG Forward Rate of Return (Yacktman) % Chart
XSWX:ALSN vs SNX, ARW, AVT: Forward Rate of Return (Yacktman) % Comparison
For the Electronics & Computer Distribution subindustry, Also Holding AG'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.
Also Holding AG Forward Rate of Return (Yacktman) % vs Hardware Industry
For the Hardware industry and Technology sector, Also Holding AG's Forward Rate of Return (Yacktman) % distribution charts can be found below:
* The bar in red indicates where Also Holding AG's Forward Rate of Return (Yacktman) % falls into.
Also Holding AG 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 8.59% mean?
Also Holding AG (XSWX:ALSN) has a Forward Rate of Return (Yacktman) % of 8.59% as of Dec. 2025. Yacktman's forward rate of return equals the sum of normalized free-cash-flow yield plus earnings growth. View historical data on Also Holding AG and its competitors. This is 21% below median its historical median of 10.90. Over the past decade, Also Holding AG's Forward Rate of Return (Yacktman) % has ranged from 7.04 to 22.58. According to the industry distribution chart, Also Holding AG ranks #675 out of 1716 companies in the Hardware industry, placing it in the top 39.3%.
Is Also Holding AG's Forward Rate of Return (Yacktman) % too high?
Also Holding AG's current Forward Rate of Return (Yacktman) % of 8.59% is 21% below median its 10-year median of 10.90. Over the past 10 years, this metric has ranged from a low of 7.04 to a high of 22.58. The Hardware industry median Forward Rate of Return (Yacktman) % is 4.49. Also Holding AG's value of 8.59% is 91.5% above this industry median. Based on the distribution chart, Also Holding AG ranks #675 out of 1716 companies in the Hardware industry, which is above the industry midpoint. Overall, Also Holding AG has a GF Score™ of 56/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Also Holding AG's Forward Rate of Return (Yacktman) % compare to SNX and ARW?
According to the Hardware industry distribution chart, Also Holding AG ranks #675 out of 1716 companies for Forward Rate of Return (Yacktman) %. This puts Also Holding AG in the upper half of its industry. The industry median Forward Rate of Return (Yacktman) % is 4.49. Also Holding AG's value of 8.59% is 91.5% above this benchmark. Historically, Also Holding AG's own Forward Rate of Return (Yacktman) % has ranged from 7.04 to 22.58 over the past decade. While the company's 10-year median is 10.90 vs. the industry median of 4.49, Also Holding AG 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 Hardware company?
The median Forward Rate of Return (Yacktman) % among Hardware companies is 4.49, based on 1,716 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. Also Holding AG's current Forward Rate of Return (Yacktman) % of 8.59% is 91.5% 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 Also Holding AG and its competitors. For the Hardware industry, the median Forward Rate of Return (Yacktman) % is 4.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Also Holding AG's current Forward Rate of Return (Yacktman) % is 8.59%, which is 21% below median its own 10-year median of 10.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Also Holding AG stock overvalued right now?
Based on GuruFocus' analysis, Also Holding AG (XSWX:ALSN) is currently considered Possible Value Trap. The stock's GF Value™ is CHF324.26, compared to a current price of CHF192.80 — trading 40.5% below its estimated fair value. The current Forward Rate of Return (Yacktman) % is 8.59%, which is 21% below median its 10-year median of 10.90 and 91.5% above the Hardware industry median of 4.49. Also Holding AG's overall GF Score™ is 56/100 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 Also Holding AG (XSWX:ALSN), the current Forward Rate of Return (Yacktman) % is 8.59% as of Dec. 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 Also Holding AG (XSWX:ALSN) Overvalued in 2026?
Based on GuruFocus' analysis, Also Holding AG stock appears to be undervalued.
The current stock price of CHF192.80 is trading 40.5% below its estimated GF Value™ of CHF324.26.
GuruFocus considers Also Holding AG to be Possible Value Trap.
Key valuation signals for XSWX:ALSN:
Forward Rate of Return (Yacktman) %: 8.59% (21% below median its 10-year median of 10.90)
GF Value™: CHF324.26 vs. price of CHF192.80 (40.5% below fair value)
Industry Position: 91.5% above the Hardware median (#675 of 1716)
No single metric tells the full story. See the XSWX:ALSN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Also Holding AG is an information and communications technology distribution company. It distributes a wide portfolio of hardware, software, and digital products of various technology brands. The industries it caters to include information technology, data centers, consumer electronics, and telecommunications. It also connects service providers of cloud solutions with their customers and aids the provision of financial, logistics, and IT services. The company's operating segments are: Central Europe, which generates the maximum revenue, and Northern/Eastern Europe. Geographically, it derives maximum revenue from the United Kingdom, followed by Germany, Poland, Switzerland, and other markets.
56GF Score
Get the complete analysis for XSWX:ALSN
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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