NFJ (Virtus Dividend, Interest & Premium Strategy Fund) Net-Net Working Capital : $0.39 (As of Jan. 2025)

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What is Virtus Dividend, Interest & Premium Strategy Fund Net-Net Working Capital?

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.

Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital for the quarter that ended in Jan. 2025 was $0.39.

The industry rank for Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital or its related term are showing as below:

NFJ's Price-to-Net-Net-Working-Capital is ranked worse than
79.17% of 509 companies
in the Asset Management industry
Industry Median: 7.09 vs NFJ: 32.14

Virtus Dividend, Interest & Premium Strategy Fund Net-Net Working Capital Historical Data

The historical data trend for Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital 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.

Virtus Dividend, Interest & Premium Strategy Fund Net-Net Working Capital Chart

Virtus Dividend, Interest & Premium Strategy Fund Annual Data

Trend

Jan18

Jan19

Jan20

Jan21

Jan22

Jan23

Jan24

Jan25

Net-Net Working Capital

Get a 7-Day Free Trial

-0.04

-0.35

-0.06

0.34

0.39

Virtus Dividend, Interest & Premium Strategy Fund Semi-Annual Data
	Jul17	Jan18	Jul18	Jan19	Jul19	Jan20	Jul20	Jan21	Jul21	Jan22	Jul22	Jan23	Jul23	Jan24	Jul24	Jan25
Net-Net Working Capital	Get a 7-Day Free Trial											-0.06	-0.04	0.34	0.17	0.39

Competitive Comparison of Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital

For the Asset Management subindustry, Virtus Dividend, Interest & Premium Strategy Fund's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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.

Virtus Dividend, Interest & Premium Strategy Fund's Price-to-Net-Net-Working-Capital Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Virtus Dividend, Interest & Premium Strategy Fund's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Virtus Dividend, Interest & Premium Strategy Fund's Price-to-Net-Net-Working-Capital falls into.

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Virtus Dividend, Interest & Premium Strategy Fund Net-Net Working Capital Calculation

Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Jan. 2025 is calculated as

	Net-Net Working Capital		(A: Jan. 2025 )
=	(Balance Sheet Cash And Cash Equivalents	+	Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(42.704	+	0	+	0.75 * 0	+	0.5 * 0	-	5.378
-	0	-	0)	/	94.802
=	0.39

Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital (NNWC) per share for the quarter that ended in Jan. 2025 is calculated as

	Net-Net Working Capital		(Q: Jan. 2025 )
=	(Balance Sheet Cash And Cash Equivalents	+	Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(42.704	+	0	+	0.75 * 0	+	0.5 * 0	-	5.378
-	0	-	0)	/	94.802
=	0.39

In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

This is a conservative way of estimating the company's value.

Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) Net-Net Working Capital Explanation

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.

Virtus Dividend, Interest & Premium Strategy Fund Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of Virtus Dividend, Interest & Premium Strategy Fund's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.

Virtus Dividend, Interest & Premium Strategy Fund Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Virtus Dividend, Interest & Premium Strategy Fund (NYSE:NFJ) » Definitions » Net-Net Working Capital

Comparable Companies

Traded in Other Exchanges

N/A

Address

101 Munson Street, Greenfield, MA, USA, 01301-9683

Website

https://www.virtus.com

Virtus Dividend, Interest & Premium Strategy Fund is a Massachusetts-based business trust. The primary investment objective of the company is to seek current income and gains, with a secondary objective of long-term capital appreciation. The fund pursues its investment objectives by investing in a diversified portfolio of dividend-paying common stocks and income-producing convertible securities.

Executives

Donald C Burke	director	C/O BLACKROCK FINANCIAL MANAGEMENT, INC., 40 EAST 52ND STREET, NEW YORK NY 10022
Mcdaniel Connie D	director	C/O VIRTUS INVESTMENT PARTNERS, INC., ONE FINANCIAL PLAZA, 26TH FL., HARTFORD CT 06103
Geraldine M Mcnamara	director	150 EAST 44TH ST, APT 35G, NEW YORK NY 10017
R Keith Walton	director	100 PEARL STREET, HARTFORD CT 06103
Christine Hurtsellers	other: CEO - Subadviser to the issuer	230 PARK AVENUE, NEW YORK NY 10169
Vincent J Costa	other: CIO-Subadviser to the issuer	800 SCUDDERS MILL ROAD, PLAINSBORO NJ 08536
Paul Zemsky	other: CIO-Subadviser to the issuer	230 PARK AVENUE, NEW YORK NY 10169
Voya Investment Management Co	other: Subadviser to the issuer	10 STATE HOUSE SQUARE, SH12, HARTFORD CT 06103-3602
Brian T Zino	director	100 PARK AVENUE, NEW YORK NY 10017
Deborah A Decotis	director	1633 BROADWAY, NEW YORK NY 10019
George R Aylward	director, officer: President and CEO	C/O VIRTUS INVESTMENT PARTNERS, INC., 100 PEARL STREET, HARTFORD CT 06103
James S Macleod	director	250 E KILBOURN AVE, MILWAUKEE WI 53202
Richard W Smirl	officer: EVP	C/O VIRTUS INVESTMENT PARTNERS, INC., ONE FINANCIAL PLAZA, HARTFORD CT 06103
F Ford Drummond	director	100 N BROADWAY, OKLAHOMA CITY OK 73102
Francis G Waltman	officer: EVP	C/O VIRTUS INVESTMENT PARTNERS, INC., 100 PEARL STREET, HARTFORD CT 06103