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Nuveen Floating Rateome Fund (Nuveen Floating Rateome Fund) Piotroski F-Score : 6 (As of Apr. 28, 2024)


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What is Nuveen Floating Rateome Fund Piotroski F-Score?

The zones of discrimination were as such:

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

Nuveen Floating Rateome Fund has an F-score of 6 indicating the company's financial situation is typical for a stable company.

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

JFR' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 6
Current: 6

During the past 7 years, the highest Piotroski F-Score of Nuveen Floating Rateome Fund was 6. The lowest was 3. And the median was 5.


Nuveen Floating Rateome Fund Piotroski F-Score Historical Data

The historical data trend for Nuveen Floating Rateome 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 Floating Rateome Fund Piotroski F-Score Chart

Nuveen Floating Rateome Fund Annual Data
Trend Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23
Piotroski F-Score
Get a 7-Day Free Trial 4.00 5.00 3.00 5.00 6.00

Nuveen Floating Rateome Fund Semi-Annual Data
Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jul23 Jan24
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 - 5.00 - 6.00 -

Competitive Comparison of Nuveen Floating Rateome Fund's Piotroski F-Score

For the Asset Management subindustry, Nuveen Floating Rateome 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 Floating Rateome Fund's Piotroski F-Score Distribution in the Asset Management Industry

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

* The bar in red indicates where Nuveen Floating Rateome 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 (Jul23) TTM:Last Year (Jul22) TTM:
Net Income was $34.8 Mil.
Cash Flow from Operations was $55.8 Mil.
Revenue was $36.8 Mil.
Average Total Assets from the begining of this year (Jul22)
to the end of this year (Jul23) was (909.766 + 2030.829) / 2 = $1470.2975 Mil.
Total Assets at the begining of this year (Jul22) was $909.8 Mil.
Long-Term Debt & Capital Lease Obligation was $481.0 Mil.
Total Assets was $2,030.8 Mil.
Total Liabilities was $806.3 Mil.
Net Income was $-15.0 Mil.

Revenue was $-13.4 Mil.
Average Total Assets from the begining of last year (Jul21)
to the end of last year (Jul22) was (995.746 + 909.766) / 2 = $952.756 Mil.
Total Assets at the begining of last year (Jul21) was $995.7 Mil.
Long-Term Debt & Capital Lease Obligation was $234.6 Mil.
Total Assets was $909.8 Mil.
Total Liabilities was $375.4 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 Floating Rateome Fund's current Net Income (TTM) was 34.8. ==> 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 Floating Rateome Fund's current Cash Flow from Operations (TTM) was 55.8. ==> 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 (Jul22)
=34.841/909.766
=0.03829666

ROA (Last Year)=Net Income/Total Assets (Jul21)
=-15.006/995.746
=-0.01507011

Nuveen Floating Rateome Fund's return on assets of this year was 0.03829666. Nuveen Floating Rateome Fund's return on assets of last year was -0.01507011. ==> 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 Floating Rateome Fund's current Net Income (TTM) was 34.8. Nuveen Floating Rateome Fund's current Cash Flow from Operations (TTM) was 55.8. ==> 55.8 > 34.8 ==> 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: Jul23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul22 to Jul23
=481.045/1470.2975
=0.32717528

Gearing (Last Year: Jul22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul21 to Jul22
=234.589/952.756
=0.24622149

Nuveen Floating Rateome Fund's gearing of this year was 0.32717528. Nuveen Floating Rateome Fund's gearing of last year was 0.24622149. ==> 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: Jul23)=Total Assets/Total Liabilities
=2030.829/806.278
=2.5187702

Current Ratio (Last Year: Jul22)=Total Assets/Total Liabilities
=909.766/375.373
=2.42363196

Nuveen Floating Rateome Fund's current ratio of this year was 2.5187702. Nuveen Floating Rateome Fund's current ratio of last year was 2.42363196. ==> 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 Floating Rateome Fund's number of shares in issue this year was 134.056. Nuveen Floating Rateome Fund's number of shares in issue last year was 55.578. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=34.841/36.762
=0.94774495

Net Margin (Last Year: TTM)=Net Income/Revenue
=-15.006/-13.36
=1.12320359

Nuveen Floating Rateome Fund's net margin of this year was 0.94774495. Nuveen Floating Rateome Fund's net margin of last year was 1.12320359. ==> 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 (Jul22)
=36.762/909.766
=0.04040819

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jul21)
=-13.36/995.746
=-0.01341708

Nuveen Floating Rateome Fund's asset turnover of this year was 0.04040819. Nuveen Floating Rateome Fund's asset turnover of last year was -0.01341708. ==> 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+0+0+1
=6

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

Nuveen Floating Rateome Fund has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Nuveen Floating Rateome Fund  (NYSE:JFR) 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 Floating Rateome Fund Piotroski F-Score Related Terms

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Nuveen Floating Rateome Fund (Nuveen Floating Rateome Fund) Business Description

Traded in Other Exchanges
N/A
Address
333 West Wacker Drive, Chicago, IL, USA, 60606
Nuveen Floating Rate Income Fund is a diversified closed-end management investment company. Its investment objective is to achieve a high level of current income, consistent with the preservation of capital. It invests in adjustable-rate U.S. dollar-denominated secured Senior Loans.
Executives
Matthew Iii Thornton other: Trustee 3610 HACKS CROSS ROAD, MEMPHIS TN 38125
Nathaniel T. Jones officer: Vice President and Treasurer C/O NUVEEN 333 W. WACKER DRIVE, STE 3400, CHICAGO IL 60606
Scott C. Caraher other: Portfolio Manager C/O NUVEEN INVESTMENTS, 333 W. WACKER DRIVE, CHICAGO IL 60606
Albin F Moschner other: Trustee C/O LURIO & ASSOCIATES, P.C., 2005 MARKET STREET, SUITE 3120, PHILADELPHIA PA 19103
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
Joanne Medero other: Trustee 333 W. 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
Saba Capital Management, L.p. 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Knights Of Columbus 10 percent owner ONE COLUMBUS PLAZA, NEW HAVEN CT 06510
Boaz Weinstein 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
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
Jacques M Longerstaey officer: Vice President 333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
Brian J Lockhart officer: Vice President 333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606

Nuveen Floating Rateome Fund (Nuveen Floating Rateome Fund) Headlines

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