What is BNY Mellon Strategic Municipal Bond Fund, Return-on-Tangible-Asset?
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. BNY Mellon Strategic Municipal Bond Fund,'s annualizedNet Income for the quarter that ended in Nov. 2023 was $5.07 Mil. BNY Mellon Strategic Municipal Bond Fund,'s average total tangible assets for the quarter that ended in Nov. 2023 was $482.82 Mil. Therefore, BNY Mellon Strategic Municipal Bond Fund,'s annualized Return-on-Tangible-Asset for the quarter that ended in Nov. 2023 was 1.05%.
The historical rank and industry rank for BNY Mellon Strategic Municipal Bond Fund,'s Return-on-Tangible-Asset or its related term are showing as below:
DSM'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -13.04 Med: 2.46 Max: 6.6
Current: 1.87
During the past 7 years, BNY Mellon Strategic Municipal Bond Fund,'s highest Return-on-Tangible-Asset was 6.60%. The lowest was -13.04%. And the median was 2.46%.
DSM's Return-on-Tangible-Asset is ranked worse than 54.75% of 1717
companies
in the Asset Management industry
Industry Median: 2.7
vs DSM: 1.87
BNY Mellon Strategic Municipal Bond Fund, Return-on-Tangible-Asset Historical Data
The historical data trend for BNY Mellon Strategic Municipal Bond Fund,'s Return-on-Tangible-Asset 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.
BNY Mellon Strategic Municipal Bond Fund, Return-on-Tangible-Asset Chart
BNY Mellon Strategic Municipal Bond Fund, Annual Data
Competitive Comparison of BNY Mellon Strategic Municipal Bond Fund,'s Return-on-Tangible-Asset
For the Asset Management subindustry, BNY Mellon Strategic Municipal Bond Fund,'s Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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.
BNY Mellon Strategic Municipal Bond Fund,'s Return-on-Tangible-Asset Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, BNY Mellon Strategic Municipal Bond Fund,'s Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where BNY Mellon Strategic Municipal Bond Fund,'s Return-on-Tangible-Asset falls into.
BNY Mellon Strategic Municipal Bond Fund, Return-on-Tangible-Asset Calculation
BNY Mellon Strategic Municipal Bond Fund,'s annualized Return-on-Tangible-Asset for the fiscal year that ended in Nov. 2023 is calculated as:
* 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets 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.
BNY Mellon Strategic Municipal Bond Fund, (NYSE:DSM) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset 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 Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
BNY Mellon Strategic Municipal Bond Fund, Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of BNY Mellon Strategic Municipal Bond Fund,'s Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
BNY Mellon Strategic Municipal Bond Fund, (BNY Mellon Strategic Municipal Bond Fund,) Business Description
BNY Mellon Strategic Municipal Bond Fund, Inc. is a diversified closed-end management investment company. Its investment objective is to seek to maximize current income exempt from federal income tax to the extent consistent with the preservation of capital. The company provides access to a diverse global network of world-class investment management boutiques, that deliver investment insight and strategies backed by quality, performance, and client relationships.
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