Switch to:

Avenueome Credit Strategies Fund Return-on-Tangible-Asset

: -39.01% (As of Apr. 2020)
View and export this data going back to 2011. Start your Free Trial

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. Avenueome Credit Strategies Fund's annualized Net Income for the quarter that ended in Apr. 2020 was $-90.02 Mil. Avenueome Credit Strategies Fund's average total tangible assets for the quarter that ended in Apr. 2020 was $230.76 Mil. Therefore, Avenueome Credit Strategies Fund's annualized Return-on-Tangible-Asset for the quarter that ended in Apr. 2020 was -39.01%.

NYSE:ACP' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -18.68   Med: 1.26   Max: 9.39
Current: -18.68

-18.68
9.39

During the past 3 years, Avenueome Credit Strategies Fund's highest Return-on-Tangible-Asset was 9.39%. The lowest was -18.68%. And the median was 1.26%.

NYSE:ACP's Return-on-Tangible-Asset is ranked lower than
87% of the 1741 Companies
in the Asset Management industry.

( Industry Median: -0.82 vs. NYSE:ACP: -18.68 )

Avenueome Credit Strategies Fund Return-on-Tangible-Asset Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Avenueome Credit Strategies Fund Annual Data
Oct17 Oct18 Oct19
Return-on-Tangible-Asset 9.39 1.26 -0.89

Avenueome Credit Strategies Fund Semi-Annual Data
Oct17 Apr18 Oct18 Apr19 Oct19 Apr20
Return-on-Tangible-Asset Premium Member Only 5.72 -3.44 -2.33 0.61 -39.01

Competitive Comparison
* 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.


Avenueome Credit Strategies Fund Return-on-Tangible-Asset Distribution

* The bar in red indicates where Avenueome Credit Strategies Fund's Return-on-Tangible-Asset falls into.



Avenueome Credit Strategies Fund Return-on-Tangible-Asset Calculation

Avenueome Credit Strategies Fund's annualized Return-on-Tangible-Asset for the fiscal year that ended in Oct. 2019 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: Oct. 2019 )  (A: Oct. 2018 )(A: Oct. 2019 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: Oct. 2019 )  (A: Oct. 2018 )(A: Oct. 2019 )
=-2.262/( (267.772+242.519)/ 2 )
=-2.262/255.1455
=-0.89 %

Avenueome Credit Strategies Fund's annualized Return-on-Tangible-Asset for the quarter that ended in Apr. 2020 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Apr. 2020 )  (Q: Oct. 2019 )(Q: Apr. 2020 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Apr. 2020 )  (Q: Oct. 2019 )(Q: Apr. 2020 )
=-90.016/( (242.519+219.006)/ 2 )
=-90.016/230.7625
=-39.01 %

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's 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 (Apr. 2020) net income data.


Avenueome Credit Strategies Fund  (NYSE:ACP) 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 company’s 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 company’s 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.


Avenueome Credit Strategies Fund Return-on-Tangible-Asset Related Terms


Avenueome Credit Strategies Fund Return-on-Tangible-Asset Headlines

No Headline

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)