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Nuveen Municipal Highome Opp Fund (Nuveen Municipal Highome Opp Fund) Piotroski F-Score : 7 (As of Apr. 24, 2024)


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What is Nuveen Municipal Highome Opp Fund Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Nuveen Municipal Highome Opp Fund has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Nuveen Municipal Highome Opp Fund's Piotroski F-Score or its related term are showing as below:

NMZ' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 7
Current: 7

During the past 13 years, the highest Piotroski F-Score of Nuveen Municipal Highome Opp Fund was 7. The lowest was 1. And the median was 4.


Nuveen Municipal Highome Opp Fund Piotroski F-Score Historical Data

The historical data trend for Nuveen Municipal Highome Opp Fund's Piotroski F-Score 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.

* Premium members only.

Nuveen Municipal Highome Opp Fund Piotroski F-Score Chart

Nuveen Municipal Highome Opp Fund Annual Data
Trend Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 4.00 3.00 3.00 7.00

Nuveen Municipal Highome Opp Fund Semi-Annual Data
Apr14 Oct14 Apr15 Oct15 Apr16 Oct16 Apr17 Oct17 Apr18 Oct18 Apr19 Oct19 Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 - 3.00 - 7.00

Competitive Comparison of Nuveen Municipal Highome Opp Fund's Piotroski F-Score

For the Asset Management subindustry, Nuveen Municipal Highome Opp Fund's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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.


Nuveen Municipal Highome Opp Fund's Piotroski F-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Nuveen Municipal Highome Opp Fund's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Nuveen Municipal Highome Opp Fund's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Oct23) TTM:Last Year (Oct22) TTM:
Net Income was $7.26 Mil.
Cash Flow from Operations was $77.98 Mil.
Revenue was $8.56 Mil.
Average Total Assets from the begining of this year (Oct22)
to the end of this year (Oct23) was (1930.528 + 1834.064) / 2 = $1882.296 Mil.
Total Assets at the begining of this year (Oct22) was $1,930.53 Mil.
Long-Term Debt & Capital Lease Obligation was $5.70 Mil.
Total Assets was $1,834.06 Mil.
Total Liabilities was $785.92 Mil.
Net Income was $-398.52 Mil.

Revenue was $-397.67 Mil.
Average Total Assets from the begining of last year (Oct21)
to the end of last year (Oct22) was (2152.868 + 1930.528) / 2 = $2041.698 Mil.
Total Assets at the begining of last year (Oct21) was $2,152.87 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Total Assets was $1,930.53 Mil.
Total Liabilities was $837.54 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Nuveen Municipal Highome Opp Fund's current Net Income (TTM) was 7.26. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Nuveen Municipal Highome Opp Fund's current Cash Flow from Operations (TTM) was 77.98. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Oct22)
=7.256/1930.528
=0.00375856

ROA (Last Year)=Net Income/Total Assets (Oct21)
=-398.522/2152.868
=-0.18511214

Nuveen Municipal Highome Opp Fund's return on assets of this year was 0.00375856. Nuveen Municipal Highome Opp Fund's return on assets of last year was -0.18511214. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Nuveen Municipal Highome Opp Fund's current Net Income (TTM) was 7.26. Nuveen Municipal Highome Opp Fund's current Cash Flow from Operations (TTM) was 77.98. ==> 77.98 > 7.26 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Oct23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct22 to Oct23
=5.699/1882.296
=0.00302769

Gearing (Last Year: Oct22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Oct21 to Oct22
=0/2041.698
=0

Nuveen Municipal Highome Opp Fund's gearing of this year was 0.00302769. Nuveen Municipal Highome Opp Fund's gearing of last year was 0. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Oct23)=Total Assets/Total Liabilities
=1834.064/785.916
=2.33366416

Current Ratio (Last Year: Oct22)=Total Assets/Total Liabilities
=1930.528/837.544
=2.30498696

Nuveen Municipal Highome Opp Fund's current ratio of this year was 2.33366416. Nuveen Municipal Highome Opp Fund's current ratio of last year was 2.30498696. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Nuveen Municipal Highome Opp Fund's number of shares in issue this year was 103.651. Nuveen Municipal Highome Opp Fund's number of shares in issue last year was 104.053. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=7.256/8.559
=0.84776259

Net Margin (Last Year: TTM)=Net Income/Revenue
=-398.522/-397.666
=1.00215256

Nuveen Municipal Highome Opp Fund's net margin of this year was 0.84776259. Nuveen Municipal Highome Opp Fund's net margin of last year was 1.00215256. ==> Last year's net margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Oct22)
=8.559/1930.528
=0.0044335

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Oct21)
=-397.666/2152.868
=-0.18471453

Nuveen Municipal Highome Opp Fund's asset turnover of this year was 0.0044335. Nuveen Municipal Highome Opp Fund's asset turnover of last year was -0.18471453. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+0+1+1+0+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Nuveen Municipal Highome Opp Fund has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Nuveen Municipal Highome Opp Fund  (NYSE:NMZ) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Nuveen Municipal Highome Opp Fund Piotroski F-Score Related Terms

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Nuveen Municipal Highome Opp Fund (Nuveen Municipal Highome Opp Fund) Business Description

Traded in Other Exchanges
N/A
Address
333 West Wacker Drive, Chicago, IL, USA, 60606
Nuveen Municipal High Income Opp Fund is a diversified, closed-end management investment company. The company's investment objectives is to provide current income exempt from regular federal income tax by investing predominantly in a portfolio of municipal obligations issued by state and local government authorities or certain U.S. territories. It seeks to provide attractive monthly tax-free income, portfolio diversification and attractive after tax total returns. The fund invests in municipal securities that are exempt from federal income taxes.
Executives
Nathaniel T. Jones officer: Vice President and Treasurer C/O NUVEEN 333 W. WACKER DRIVE, STE 3400, CHICAGO IL 60606
Terence J Toth officer: Trustee
Albin F Moschner other: Trustee C/O LURIO & ASSOCIATES, P.C., 2005 MARKET STREET, SUITE 3120, PHILADELPHIA PA 19103
Wells Fargo Municipal Capital Strategies, Llc 10 percent owner 375 PARK AVENUE, NEW YORK NY 10152
Wells Fargo & Company/mn 10 percent owner 420 MONTGOMERY STREET, SAN FRANCISCO CA 94163
Trey Iii Stenersen officer: Vice President 333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
Brett Black officer: Chief Compliance Officer 333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
John M. Mccann officer: Vice President 333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
Lancellotta Amy B.r. other: Trustee 333 W. WACKER DRIVE, C/O NUVEEN, STE 3400, CHICAGO IL 60606
Joanne Medero other: Trustee 333 W. WACKER DRIVE, C/O NUVEEN, STE 3400, CHICAGO IL 60606
Db Municipal Holdings Llc 10 percent owner 1209 ORANGE STREET, CORPORATION TRUST CENTER, WILMINGTON DE 19801
Bank Ag\ Deutsche 10 percent owner TAUNUSANLAGE 12 D-60325, FRANKFURT AM MAIN 2M 00000
Matthew Iii Thornton other: Trustee 3610 HACKS CROSS ROAD, MEMPHIS TN 38125
Deann Morgan officer: Vice President TWO WORLD FINANCIAL CENTER, 7TH FLOOR, NEW YORK NY 10281
Jon Scott Meissner officer: Vice President 333 W WACKER DRIVE, STE 3400, CHICAGO IL 60606

Nuveen Municipal Highome Opp Fund (Nuveen Municipal Highome Opp Fund) Headlines

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