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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.
WAM ResearchASX:WAX -0.95%30 5-Year Yield-on-Cost % is 9.62 as of Jul. 15, 2026, which is 28% above its 10-year median of 7.51. GuruFocus rates ASX:WAX with a GF Score™ of 30/100 and a GF Value™ of A$0.01 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,115 Asset Management companies, WAM Research ranks better than 71.84% on this metric.
WAM Research's yield on cost for the quarter that ended in Dec. 2025 was 9.62.
The historical rank and industry rank for WAM Research's 5-Year Yield-on-Cost % or its related term are showing as below:
ASX:WAX'
s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 2.89 Med: 7.51 Max: 10.35
Current: 9.62
During the past 13 years, WAM Research's highest Yield on Cost was 10.35. The lowest was 2.89. And the median was 7.51.
ASX:WAX's 5-Year Yield-on-Cost % is ranked better than 71.84% of 1115
companies
in the Asset Management industry
Industry Median: 6.44
vs ASX:WAX: 9.62
WAM Research (ASX:WAX) 5-Year Yield-on-Cost % Explanation
Of course the risk here is that the company may not raise its dividends as it did before. The key is to select the companies that can consistently raise its dividends. Usually companies with long history of raising dividends tend to do so.
WAM Research 5-Year Yield-on-Cost % Related Terms
ASX:WAX vs BLK, BX, KKR: 5-Year Yield-on-Cost % Comparison
For the Asset Management subindustry, WAM Research's 5-Year Yield-on-Cost %, along with its competitors' market caps and 5-Year Yield-on-Cost % 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.
WAM Research 5-Year Yield-on-Cost % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WAM Research's 5-Year Yield-on-Cost % distribution charts can be found below:
* The bar in red indicates where WAM Research's 5-Year Yield-on-Cost % falls into.
Dividend Yield % and dividend growth of a stock is an important factor for income investors. But if company A raises its dividend constantly faster than company B, company A's future dividend yield might be much higher than Company B's even if their yields are the same now and their stock prices do not change.
Yield on Cost assumes that you buy and the stock today, and hold it for 5 years. If the company raises it dividends at the same rate as it did over the past 5 years, the dividends investors receive annually in 5 years relative to the stock price today.
Therefore, Yield-on-Cost of WAM Research is calculated as
WAM Research (ASX:WAX) has a 5-Year Yield-on-Cost % of 9.62 as of Jul. 15, 2026. 5-Year Yield on Cost measures the expected yield based on a company's current yield and 5-year dividend growth. View historical data on WAM Research and its competitors. This is 28% above median its historical median of 7.51. Over the past decade, WAM Research's 5-Year Yield-on-Cost % has ranged from 2.89 to 10.35. According to the industry distribution chart, WAM Research ranks #314 out of 1115 companies in the Asset Management industry, placing it in the top 28.2%.
Is WAM Research's 5-Year Yield-on-Cost % too high?
WAM Research's current 5-Year Yield-on-Cost % of 9.62 is 28% above median its 10-year median of 7.51. Over the past 10 years, this metric has ranged from a low of 2.89 to a high of 10.35. The Asset Management industry median 5-Year Yield-on-Cost % is 6.44. WAM Research's value of 9.62 is 49.4% above this industry median. Based on the distribution chart, WAM Research ranks #314 out of 1115 companies in the Asset Management industry, which is above the industry midpoint. Overall, WAM Research has a GF Score™ of 30/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does WAM Research's 5-Year Yield-on-Cost % compare to BLK and BX?
According to the Asset Management industry distribution chart, WAM Research ranks #314 out of 1115 companies for 5-Year Yield-on-Cost %. This puts WAM Research in the upper half of its industry. The industry median 5-Year Yield-on-Cost % is 6.44. WAM Research's value of 9.62 is 49.4% above this benchmark. Historically, WAM Research's own 5-Year Yield-on-Cost % has ranged from 2.89 to 10.35 over the past decade. While the company's 10-year median is 7.51 vs. the industry median of 6.44, WAM Research 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 5-Year Yield-on-Cost % for an Asset Management company?
The median 5-Year Yield-on-Cost % among Asset Management companies is 6.44, based on 1,115 companies in the industry. Companies in the top quartile (top 25%) have a 5-Year Yield-on-Cost % significantly above this median, while those in the bottom quartile fall well below. However, 5-Year Yield-on-Cost % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. WAM Research's current 5-Year Yield-on-Cost % of 9.62 is 49.4% 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 5-Year Yield-on-Cost % mean?
A high 5-Year Yield-on-Cost % can signal that a stock is expensive relative to its fundamentals. 5-Year Yield on Cost measures the expected yield based on a company's current yield and 5-year dividend growth. View historical data on WAM Research and its competitors. For the Asset Management industry, the median 5-Year Yield-on-Cost % is 6.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WAM Research's current 5-Year Yield-on-Cost % is 9.62, which is 28% above median its own 10-year median of 7.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAM Research stock overvalued right now?
Based on GuruFocus' analysis, WAM Research (ASX:WAX) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.01, compared to a current price of A$1.05 — trading 10350% above its estimated fair value. The current 5-Year Yield-on-Cost % is 9.62, which is 28% above median its 10-year median of 7.51 and 49.4% above the Asset Management industry median of 6.44. WAM Research's overall GF Score™ is 30/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 5-Year Yield-on-Cost % calculated?
5-Year Yield-on-Cost % is calculated from a company's financial statements. For WAM Research (ASX:WAX), the current 5-Year Yield-on-Cost % is 9.62 as of Jul. 15, 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 WAM Research (ASX:WAX) Overvalued in 2026?
Based on GuruFocus' analysis, WAM Research stock appears to be overvalued.
The current stock price of A$1.05 is trading 10350% above its estimated GF Value™ of A$0.01.
GuruFocus considers WAM Research to be Significantly Overvalued.
Key valuation signals for ASX:WAX:
5-Year Yield-on-Cost %: 9.62 (28% above median its 10-year median of 7.51)
GF Value™: A$0.01 vs. price of A$1.05 (10350% above fair value)
Industry Position: 49.4% above the Asset Management median (#314 of 1115)
No single metric tells the full story. See the ASX:WAX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WAM Research Ltd is engaged in making investments in listed companies, including cash, term deposits, and equity investments. The company's investment objectives are to deliver a stream of fully franked dividends and to achieve a high real rate of return, comprising both income and capital growth, within the risk parameters acceptable.
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