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ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. New America Highome Fund's annualized Net Income for the quarter that ended in Dec. 2023 was $34.03 Mil. New America Highome Fund's average Total Assets over the quarter that ended in Dec. 2023 was $274.28 Mil. Therefore, New America Highome Fund's annualized ROA % for the quarter that ended in Dec. 2023 was 12.41%.
The historical rank and industry rank for New America Highome Fund's ROA % or its related term are showing as below:
During the past 7 years, New America Highome Fund's highest ROA % was 13.11%. The lowest was -12.93%. And the median was 4.88%.
The historical data trend for New America Highome Fund'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.
For the Asset Management subindustry, New America Highome Fund'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.
For the Asset Management industry and Financial Services sector, New America Highome Fund's ROA % distribution charts can be found below:
* The bar in red indicates where New America Highome Fund's ROA % falls into.
New America Highome Fund's annualized ROA % for the fiscal year that ended in Dec. 2023 is calculated as:
ROA % | = | Net Income (A: Dec. 2023 ) | / | ( (Total Assets (A: Dec. 2022 ) | + | Total Assets (A: Dec. 2023 )) | / count ) |
= | 28.126 | / | ( (262.702 | + | 279.718) | / 2 ) | |
= | 28.126 | / | 271.21 | ||||
= | 10.37 % |
New America Highome Fund's annualized ROA % for the quarter that ended in Dec. 2023 is calculated as:
ROA % | = | Net Income (Q: Dec. 2023 ) | / | ( (Total Assets (Q: Jun. 2023 ) | + | Total Assets (Q: Dec. 2023 )) | / count ) |
= | 34.03 | / | ( (268.837 | + | 279.718) | / 2 ) | |
= | 34.03 | / | 274.2775 | ||||
= | 12.41 % |
* 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 (Dec. 2023) net income data. ROA % is displayed in the 30-year financial page.
New America Highome Fund (NYSE:HYB) 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 banks 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: Dec. 2023 ) | ||
= | Net Income | / | Total Assets |
= | 34.03 | / | 274.2775 |
= | (Net Income / Revenue) | * | (Revenue / Total Assets) |
= | (34.03 / 35.986) | * | (35.986 / 274.2775) |
= | Net Margin % | * | Asset Turnover |
= | 94.56 % | * | 0.1312 |
= | 12.41 % |
Note: The Net Income data used here is two times the semi-annual (Dec. 2023) net income data. The Revenue data used here is two times the semi-annual (Dec. 2023) 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.
Thank you for viewing the detailed overview of New America Highome Fund's ROA % provided by GuruFocus.com. Please click on the following links to see related term pages.
Luis M Viceira | director | THE NEW AMERICA HIGH INCOME FUND, INC., 33 BROAD STREET, BOSTON MA 02109 |
Marguerite A Piret | director | C/O NEWBURY PIRET AND CO., 200 STATE STREET 12TH FLOOR, BOSTON MA 02109 |
Joseph I Bower | director | 32 WIGGINS AVENUE, BEDFORD MA 01730 |
Bernard J Korman | director | OMEGA HEALTHCARE INVESTORS INC, ANN ARBOR MI 48108 |
Ellen E Terry | officer: Vice President and Treasurer | 33 BTROAD STREET, BOSTON MA 02109 |
Oleg M Pohotsky | director | C/O HAMBRECHT & QUIST CAPITAL MANAGEMENT, 2 LIBERTY SQUARE, 9TH FLOOR, BOSTON MA 02109 |
Stuart A Mcfarland | director | C/O FORTRESS INVESTMENT GROUP, 1345 AVE OF THE AMERICAS 46TH FL, NEW YORK NY 10105 |
Bank Of America Na | 10 percent owner | 100 N. TRYON STREET, CHARLOTTE NC 28255 |
Blue Ridge Investments, L.l.c. | 10 percent owner | ONE BRYANT PARK, NEW YORK NY 10036 |
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 |
Robert F Birch | director, officer: President | C/O HYPERION BROOKFIELD ASSET MANAGEMENT, THREE WORLD FINANCIAL CENTER, 200 VESEY STREET, 10TH FLOOR NY 10281-1010 |
Ernest E Monrad | director | |
Richard E Floor | director, officer: Secretary | C/O GOODWIN PROCTER LLP EXCHANGE PLACE, 26TH FLOOR, BOSTON MA 02109 |
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