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Nuveen Municipal Creditome Fund Return-on-Tangible-Asset

: 12.60% (As of Oct. 2020)
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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. Nuveen Municipal Creditome Fund's annualized Net Income for the quarter that ended in Oct. 2020 was $450.80 Mil. Nuveen Municipal Creditome Fund's average total tangible assets for the quarter that ended in Oct. 2020 was $3,578.02 Mil. Therefore, Nuveen Municipal Creditome Fund's annualized Return-on-Tangible-Asset for the quarter that ended in Oct. 2020 was 12.60%.

NYSE:NZF' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -4.11   Med: 3.3   Max: 10.75
Current: 0.32

-4.11
10.75

During the past 11 years, Nuveen Municipal Creditome Fund's highest Return-on-Tangible-Asset was 10.75%. The lowest was -4.11%. And the median was 3.30%.

NYSE:NZF's Return-on-Tangible-Asset is ranked lower than
55% of the 1745 Companies
in the Asset Management industry.

( Industry Median: 0.99 vs. NYSE:NZF: 0.32 )

Nuveen Municipal Creditome 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.

Nuveen Municipal Creditome Fund Annual Data
Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 Oct20
Return-on-Tangible-Asset Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.83 2.34 -0.52 9.09 0.31

Nuveen Municipal Creditome Fund Semi-Annual Data
Apr11 Oct11 Apr12 Oct12 Apr13 Oct13 Apr14 Oct14 Apr15 Oct15 Apr16 Oct16 Apr17 Oct17 Apr18 Oct18 Apr19 Oct19 Apr20 Oct20
Return-on-Tangible-Asset 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 0.05 10.76 7.44 -11.79 12.60

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.


Nuveen Municipal Creditome Fund Return-on-Tangible-Asset Distribution

* The bar in red indicates where Nuveen Municipal Creditome Fund's Return-on-Tangible-Asset falls into.



Nuveen Municipal Creditome Fund Return-on-Tangible-Asset Calculation

Nuveen Municipal Creditome Fund's annualized Return-on-Tangible-Asset for the fiscal year that ended in Oct. 2020 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: Oct. 2020 )  (A: Oct. 2019 )(A: Oct. 2020 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: Oct. 2020 )  (A: Oct. 2019 )(A: Oct. 2020 )
=11.533/( (3765.258+3667.724)/ 2 )
=11.533/3716.491
=0.31 %

Nuveen Municipal Creditome Fund's annualized Return-on-Tangible-Asset for the quarter that ended in Oct. 2020 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Oct. 2020 )  (Q: Apr. 2020 )(Q: Oct. 2020 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Oct. 2020 )  (Q: Apr. 2020 )(Q: Oct. 2020 )
=450.796/( (3488.32+3667.724)/ 2 )
=450.796/3578.022
=12.60 %

* 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 (Oct. 2020) net income data.


Nuveen Municipal Creditome Fund  (NYSE:NZF) 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.


Nuveen Municipal Creditome Fund Return-on-Tangible-Asset Related Terms


Nuveen Municipal Creditome Fund Return-on-Tangible-Asset Headlines

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