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Pioneer Floating Rate Trust (Pioneer Floating Rate Trust) ROE % : 17.73% (As of Nov. 2023)


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What is Pioneer Floating Rate Trust ROE %?

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Pioneer Floating Rate Trust's annualized net income for the quarter that ended in Nov. 2023 was $21.78 Mil. Pioneer Floating Rate Trust's average Total Stockholders Equity over the quarter that ended in Nov. 2023 was $122.83 Mil. Therefore, Pioneer Floating Rate Trust's annualized ROE % for the quarter that ended in Nov. 2023 was 17.73%.

The historical rank and industry rank for Pioneer Floating Rate Trust's ROE % or its related term are showing as below:

PHD' s ROE % Range Over the Past 10 Years
Min: -8.77   Med: 4.41   Max: 12.85
Current: 12.85

During the past 7 years, Pioneer Floating Rate Trust's highest ROE % was 12.85%. The lowest was -8.77%. And the median was 4.41%.

PHD's ROE % is ranked better than
78.1% of 1699 companies
in the Asset Management industry
Industry Median: 4.06 vs PHD: 12.85

Pioneer Floating Rate Trust ROE % Historical Data

The historical data trend for Pioneer Floating Rate Trust's ROE % 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.

Pioneer Floating Rate Trust ROE % Chart

Pioneer Floating Rate Trust Annual Data
Trend Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23
ROE %
Get a 7-Day Free Trial 4.41 0.66 6.49 -8.77 12.75

Pioneer Floating Rate Trust Semi-Annual Data
Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23
ROE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.88 -12.05 -5.37 8.01 17.73

Competitive Comparison of Pioneer Floating Rate Trust's ROE %

For the Asset Management subindustry, Pioneer Floating Rate Trust's ROE %, along with its competitors' market caps and ROE % 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.


Pioneer Floating Rate Trust's ROE % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Pioneer Floating Rate Trust's ROE % distribution charts can be found below:

* The bar in red indicates where Pioneer Floating Rate Trust's ROE % falls into.



Pioneer Floating Rate Trust ROE % Calculation

Pioneer Floating Rate Trust's annualized ROE % for the fiscal year that ended in Nov. 2023 is calculated as

ROE %=Net Income (A: Nov. 2023 )/( (Total Stockholders Equity (A: Nov. 2022 )+Total Stockholders Equity (A: Nov. 2023 ))/ count )
=15.762/( (122.371+124.861)/ 2 )
=15.762/123.616
=12.75 %

Pioneer Floating Rate Trust's annualized ROE % for the quarter that ended in Nov. 2023 is calculated as

ROE %=Net Income (Q: Nov. 2023 )/( (Total Stockholders Equity (Q: May. 2023 )+Total Stockholders Equity (Q: Nov. 2023 ))/ count )
=21.782/( (120.807+124.861)/ 2 )
=21.782/122.834
=17.73 %

* 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 ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is two times the semi-annual (Nov. 2023) net income data. ROE % is displayed in the 30-year financial page.


Pioneer Floating Rate Trust  (NYSE:PHD) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Nov. 2023 )
=Net Income/Total Stockholders Equity
=21.782/122.834
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(21.782 / 22.216)*(22.216 / 188.621)*(188.621 / 122.834)
=Net Margin %*Asset Turnover*Equity Multiplier
=98.05 %*0.1178*1.5356
=ROA %*Equity Multiplier
=11.55 %*1.5356
=17.73 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Nov. 2023 )
=Net Income/Total Stockholders Equity
=21.782/122.834
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (21.782 / 21.782) * (21.782 / 22.216) * (22.216 / 188.621) * (188.621 / 122.834)
= Tax Burden * Pretax Margin % * Asset Turnover * Equity Multiplier
= 1 * 98.05 % * 0.1178 * 1.5356
=17.73 %

Note: The net income data used here is two times the semi-annual (Nov. 2023) net income data. The Revenue data used here is two times the semi-annual (Nov. 2023) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* 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

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.


Pioneer Floating Rate Trust ROE % Related Terms

Thank you for viewing the detailed overview of Pioneer Floating Rate Trust's ROE % provided by GuruFocus.com. Please click on the following links to see related term pages.


Pioneer Floating Rate Trust (Pioneer Floating Rate Trust) Business Description

Traded in Other Exchanges
N/A
Address
60 State Street, Boston, MA, USA, 02109
Pioneer Floating Rate Trust is a diversified fund. It seeks a high level of current income by investing primarily in floating-rate loans. Its investment objective is to provide a high level of current income and seek the preservation of capital.
Executives
Yana Karalnik officer: CHIEF COMPLIANCE OFFICER 60 STATE STREET, BOSTON MA 02109
Michael Melnick officer: Assistant Treasurer 60 STATE STREET, BOSTON MA 02109
Koenig Anthony J Jr officer: Treasurer 60 STATE STREET, BOSTON MA 02109
Craig C Mackay officer: Trustee 75 WEST 125TH STREET, NEW YORK NY 10027
Saba Capital Management, L.p. 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Diane Durnin other: Trustee 60 STATE STREET, BOSTON MA 02109
Boaz Weinstein 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Baumgardner John E Jr. other: Trustee 60 STATE STREET, BOSTON MA 02109
John Michael Malone officer: Chief Compliance Officer 60 STATE STREET, BOSTON MA 02019
Lorraine H Monchak other: Trustee 60 STATE STREET, PIONEER INVESTMENTS, BOSTON MA 02109
Fred J Ricciardi other: Trustee 60 STATE STREET, BOSTON MA 02109
Lisa Jones officer: Chief Executive Officer 60 STATE STREET, PIONEER INVESTMENTS, BOSTON MA 02109
Mark Goodwin officer: Executive Vice President PIONEER INVESTMENTS, 60 STATE STREET, BOSTON MA 02109
Kenneth Taubes other: Trustee
Marc O Mayer other: Trustee C/O ALLIANCE CAPITAL, 1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105

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