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Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Flaherty & Crumrine Total Return Fund's annualized Net Income for the quarter that ended in Nov. 2023 was $20.99 Mil. Flaherty & Crumrine Total Return Fund's average total tangible assets for the quarter that ended in Nov. 2023 was $287.55 Mil. Therefore, Flaherty & Crumrine Total Return Fund's annualized Return-on-Tangible-Asset for the quarter that ended in Nov. 2023 was 7.30%.
The historical rank and industry rank for Flaherty & Crumrine Total Return Fund's Return-on-Tangible-Asset or its related term are showing as below:
During the past 7 years, Flaherty & Crumrine Total Return Fund's highest Return-on-Tangible-Asset was 12.78%. The lowest was -11.32%. And the median was 5.14%.
The historical data trend for Flaherty & Crumrine Total Return Fund's Return-on-Tangible-Asset 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.
Flaherty & Crumrine Total Return Fund Annual Data | ||||||||||||||||
Trend | Nov17 | Nov18 | Nov19 | Nov20 | Nov21 | Nov22 | Nov23 | |||||||||
Return-on-Tangible-Asset | Get a 7-Day Free Trial | 12.78 | 5.32 | 5.14 | -11.32 | 0.71 |
Flaherty & Crumrine Total Return Fund Semi-Annual Data | |||||||||||||
Nov17 | May18 | Nov18 | May19 | Nov19 | May20 | Nov20 | May21 | Nov21 | May22 | Nov22 | May23 | Nov23 | |
Return-on-Tangible-Asset | Get a 7-Day Free Trial | 2.25 | -15.36 | -7.25 | -5.74 | 7.30 |
For the Asset Management subindustry, Flaherty & Crumrine Total Return Fund's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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.
For the Asset Management industry and Financial Services sector, Flaherty & Crumrine Total Return Fund's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Flaherty & Crumrine Total Return Fund's Return-on-Tangible-Asset falls into.
Flaherty & Crumrine Total Return Fund's annualized Return-on-Tangible-Asset for the fiscal year that ended in Nov. 2023 is calculated as:
Return-on-Tangible-Asset | = | Net Income | / | ( (Total Tangible Assets | + | Total Tangible Assets) | / count ) |
(A: Nov. 2023 ) | (A: Nov. 2022 ) | (A: Nov. 2023 ) | |||||
= | Net Income | / | ( (Total Assets - Intangible Assets | + | Total Assets - Intangible Assets) | / count ) | |
(A: Nov. 2023 ) | (A: Nov. 2022 ) | (A: Nov. 2023 ) | |||||
= | 2.106 | / | ( (299.314 | + | 290.146) | / 2 ) | |
= | 2.106 | / | 294.73 | ||||
= | 0.71 % |
Flaherty & Crumrine Total Return Fund's annualized Return-on-Tangible-Asset for the quarter that ended in Nov. 2023 is calculated as:
Return-on-Tangible-Asset | = | Net Income | / | ( (Total Tangible Assets | + | Total Tangible Assets) | / count ) |
(Q: Nov. 2023 ) | (Q: May. 2023 ) | (Q: Nov. 2023 ) | |||||
= | Net Income | / | ( (Total Assets - Intangible Assets | + | Total Assets - Intangible Assets) | / count ) | |
(Q: Nov. 2023 ) | (Q: May. 2023 ) | (Q: Nov. 2023 ) | |||||
= | 20.994 | / | ( (284.947 | + | 290.146) | / 2 ) | |
= | 20.994 | / | 287.5465 | ||||
= | 7.30 % |
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is two times the semi-annual (Nov. 2023) net income data.
Flaherty & Crumrine Total Return Fund (NYSE:FLC) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Thank you for viewing the detailed overview of Flaherty & Crumrine Total Return Fund's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Robert F Wulf | director | 301 E. COLORADO BLVD., SUITE 720, PASADENA CA 91101 |
Karen Hanovice Hogan | director | 301 EAST COLORADO BLVD, SUITE 720, PASADENA CA 91101 |
Chad Conwell | officer: VP & Asst. Compliance Officer | 301 E. COLORADO BLVD., SUITE 720, PASADENA CA 91101 |
Bradford S Stone | officer: Vice President, Asst Treasurer | 47 MAPLE ST. SUITE 403, SUMMIT NJ 07901 |
Robert M Ettinger | officer: President | 301 E COLORADO BLVD STE 720, PASADENA CA 91101 |
Bank Of America Corp /de/ | 10 percent owner | BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST, CHARLOTTE NC 28255 |
Merrill Lynch, Pierce, Fenner & Smith Inc. | 10 percent owner | 4 WORLD FINANCIAL CENTER, NORTH TOWER, NEW YORK NY 10080 |
Merrill Lynch & Co., Inc. | 10 percent owner | 4 WORLD FINANCIAL CTR, NEW YORK NY 10080 |
Stanley Morgan | 10 percent owner | 1585 BROADWAY, NEW YORK NY 10036 |
Christopher Douglas Ryan | officer: Vice President | 310 EAST COLORADO BLVD, SUITE 720, PASADENA CA 91101 |
Laurie C Lodolo | officer: Asst CCO, Asst Treas, Asst Sec | 301 E. COLORADO BOULEVARD, SUITE 720, PASADENA CA 91101 |
Flaherty & Crumrine Inc | other: Investment Adviser | 301 E. COLORADO BLVD, SUITE 720, PASADENA CA 91101 |
Peter C Stimes | officer: VP, CFO, Chief Accounting Off. | 301 E COLORADO BLVD STE 720, PASADENA CA 91101 |
Donald F Crumrine | director, officer: Chief Executive Officer | 301 E COLORADO BLVD STE 720, PASADENA CA 91101 |
Robert E Chadwick | officer: VP, Secretary, Asst. Treasurer | 301 E COLORADO BLVD STE 720, PASADENA CA 91101 |
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