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Delaware Investments Natl Muniome ROA %

: 5.21% (As of Sep. 2021)
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ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. Delaware Investments Natl Muniome's annualized Net Income for the quarter that ended in Sep. 2021 was $5.13 Mil. Delaware Investments Natl Muniome's average Total Assets over the quarter that ended in Sep. 2021 was $98.42 Mil. Therefore, Delaware Investments Natl Muniome's annualized ROA % for the quarter that ended in Sep. 2021 was 5.21%.

The historical rank and industry rank for Delaware Investments Natl Muniome's ROA % or its related term are showing as below:

AMEX:VFL' s ROA % Range Over the Past 10 Years
Min: -2.21   Med: 3.51   Max: 9.15
Current: 6.42

-2.21
9.15

During the past 11 years, Delaware Investments Natl Muniome's highest ROA % was 9.15%. The lowest was -2.21%. And the median was 3.51%.

AMEX:VFL's ROA % is ranked lower than
61% of the 1703 Companies
in the Asset Management industry.

( Industry Median: 10.15 vs. AMEX:VFL: 6.42 )

Delaware Investments Natl Muniome ROA % Historical Data

The historical data trend for Delaware Investments Natl Muniome's ROA % 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.

Delaware Investments Natl Muniome Annual Data
Trend Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21
ROA %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.14 2.99 3.29 -0.17 8.04

Delaware Investments Natl Muniome Semi-Annual Data
Mar12 Sep12 Mar13 Sep13 Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21
ROA % 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 Premium Member Only Premium Member Only Premium Member Only 7.32 -7.85 8.47 7.66 5.21

Competitive Comparison

For the Asset Management subindustry, Delaware Investments Natl Muniome's ROA %, along with its competitors' market caps and ROA % 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.

   

Delaware Investments Natl Muniome ROA % Distribution

For the Asset Management industry and Financial Services sector, Delaware Investments Natl Muniome's ROA % distribution charts can be found below:

* The bar in red indicates where Delaware Investments Natl Muniome's ROA % falls into.



Delaware Investments Natl Muniome ROA % Calculation

Delaware Investments Natl Muniome's annualized ROA % for the fiscal year that ended in Mar. 2021 is calculated as:

ROA %=Net Income (A: Mar. 2021 )/( (Total Assets (A: Mar. 2020 )+Total Assets (A: Mar. 2021 ))/ count )
=7.675/( (93.402+97.452)/ 2 )
=7.675/95.427
=8.04 %

Delaware Investments Natl Muniome's annualized ROA % for the quarter that ended in Sep. 2021 is calculated as:

ROA %=Net Income (Q: Sep. 2021 )/( (Total Assets (Q: Mar. 2021 )+Total Assets (Q: Sep. 2021 ))/ count )
=5.126/( (97.452+99.383)/ 2 )
=5.126/98.4175
=5.21 %

* 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 ROA %, the net income of the last fiscal year and the average total assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is two times the semi-annual (Sep. 2021) net income data. ROA % is displayed in the 30-year financial page.


Delaware Investments Natl Muniome  (AMEX:VFL) ROA % Explanation

ROA % measures the rate of return on the total assets (shareholder equity plus liabilities). It measures a firm's efficiency at generating profits from shareholders' equity plus its liabilities. ROA % shows how well a company uses what it has to generate earnings. ROA %s can vary drastically across industries. Therefore, ROA % should not be used to compare companies in different industries. For retailers, a ROA % of higher than 5% is expected. For example, Wal-Mart (WMT) has a ROA % of about 8% as of 2012. For banks, ROA % is close to their interest spread. A bank’s ROA % is typically well under 2%.

Similar to ROE, ROA % is affected by profit margins and asset turnover. This can be seen from the Du Pont Formula:

ROA %(Q: Sep. 2021 )
=Net Income/Total Assets
=5.126/98.4175
=(Net Income / Revenue)*(Revenue / Total Assets)
=(5.126 / 5.4)*(5.4 / 98.4175)
=Net Margin %*Asset Turnover
=94.93 %*0.0549
=5.21 %

Note: The Net Income data used here is two times the semi-annual (Sep. 2021) net income data. The Revenue data used here is two times the semi-annual (Sep. 2021) revenue data.

* 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.


Be Aware

Like ROE, ROA % is calculated with only 12 months data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. ROA % can be affected by events such as stock buyback or issuance, and by goodwill, a company's tax rate and its interest payment. ROA % 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 ROA % may indicate vulnerability in the durability of the competitive advantage.

E.g. Raising $43b to take on KO is impossible, but $1.7b to take on Moody's is. Although Moody's ROA % and underlying economics is far superior to Coca Cola, the durability is far weaker because of lower entry cost.


Delaware Investments Natl Muniome ROA % Related Terms

Thank you for viewing the detailed overview of Delaware Investments Natl Muniome's ROA % provided by GuruFocus.com. Please click on the following links to see related term pages.


Delaware Investments Natl Muniome Business Description

Delaware Investments Natl Muniome logo
Industry
Financial Services » Asset Management NAICS : 523920 SIC : 6799
Traded in Other Exchanges
N/A
Address
610 Market Street, Philadelphia, PA, USA, 19106
Delaware Investments Natl Muni Income is a closed-end investment fund. The Fund seeks to provide current income exempt from regular federal income tax consistent with the preservation of capital.
Executives
Wells Fargo Bank N A 10 percent owner 101 NORTH PHILLIPS AVENUE SIOUX FALLS SD 57104
Toronto Dominion Holdings Usa Inc 10 percent owner 40 WALL STREET NEW YORK NY 10003
Toronto Dominion Bank 10 percent owner 66 WELLINGTON STREET WEST 15TH FLOOR, TD TOWER TORONTO, ONTARIO A6 M5K 1A2
Toronto Dominion Investments, Inc. 10 percent owner 909 FANIN SUITE 1950 HOUSTON TX 77010
Td Group Us Holdings Llc 10 percent owner 251 LITTLE FALLS DRIVE WILMINGTON DE 19808
Van Roden Jake officer: SVP/Portfolio Manager 2005 MARKET STREET PHILADELPHIA PA 19103
Wood Christianna director 330 OLD Y ROAD GOLDEN CO 80401
Abernathy Jerome director 2005 MARKET STREET PHILADELPHIA PA 19103
Lytle Shawn director, officer: Trustee C/O DELAWARE INVESTMENTS 2005 MARKET STREET PHILADELPHIA PA 19103
Borowiec Ann Dully director, officer: Board Member C/O DELAWARE INVESTMENTS 2005 MARKET STREET PHILADELPHIA PA 19103
Chow Joseph W director STATE STREET CORP 225 FRANKLIN ST BOSTON MA 02110
Whitford Thomas K director 249 FIFTH AVE P1-POPP-30-1 PITTSBURGH PA 15222
Gizzi Gregory A. officer: VP/Portfolio Manager C/O DELAWARE INVESTMENTS 2005 MARKET STREET PHILADELPHIA PA 19103
Sevilla-sacasa Frances Aldrich director 3 GREENWAY PLAZA SUITE 1300 HOUSTON TX 77046
Zecher Richard director 2 SUTTON PLACE SOUTH, 19A NEW YORK NY 10022

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