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RiverNorth Flexible Municipalome Fund Return-on-Tangible-Asset

: 10.07% (As of Jun. 2021)
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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. RiverNorth Flexible Municipalome Fund's annualized Net Income for the quarter that ended in Jun. 2021 was $22.71 Mil. RiverNorth Flexible Municipalome Fund's average total tangible assets for the quarter that ended in Jun. 2021 was $225.57 Mil. Therefore, RiverNorth Flexible Municipalome Fund's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2021 was 10.07%.

The historical rank and industry rank for RiverNorth Flexible Municipalome Fund's Return-on-Tangible-Asset or its related term are showing as below:

NYSE:RFM' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 4.9   Med: 8.56   Max: 12.22
Current: 5.08

4.9
12.22

During the past 2 years, RiverNorth Flexible Municipalome Fund's highest Return-on-Tangible-Asset was 12.22%. The lowest was 4.90%. And the median was 8.56%.

NYSE:RFM's Return-on-Tangible-Asset is ranked lower than
70% of the 1695 Companies
in the Asset Management industry.

( Industry Median: 11.74 vs. NYSE:RFM: 5.08 )

RiverNorth Flexible Municipalome Fund Return-on-Tangible-Asset Historical Data

The historical data trend for RiverNorth Flexible Municipalome 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.

RiverNorth Flexible Municipalome Fund Annual Data
Trend Jun20 Jun21
Return-on-Tangible-Asset
4.90 12.22

RiverNorth Flexible Municipalome Fund Semi-Annual Data
Jun20 Dec20 Jun21
Return-on-Tangible-Asset - - 10.07

Competitive Comparison

For the Asset Management subindustry, RiverNorth Flexible Municipalome 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.

   

RiverNorth Flexible Municipalome Fund Return-on-Tangible-Asset Distribution

For the Asset Management industry and Financial Services sector, RiverNorth Flexible Municipalome Fund's Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where RiverNorth Flexible Municipalome Fund's Return-on-Tangible-Asset falls into.



RiverNorth Flexible Municipalome Fund Return-on-Tangible-Asset Calculation

RiverNorth Flexible Municipalome Fund's annualized Return-on-Tangible-Asset for the fiscal year that ended in Jun. 2021 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: Jun. 2021 )  (A: Jun. 2020 )(A: Jun. 2021 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: Jun. 2021 )  (A: Jun. 2020 )(A: Jun. 2021 )
=27.113/( (219.246+224.646)/ 2 )
=27.113/221.946
=12.22 %

RiverNorth Flexible Municipalome Fund's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2021 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Jun. 2021 )  (Q: Dec. 2020 )(Q: Jun. 2021 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Jun. 2021 )  (Q: Dec. 2020 )(Q: Jun. 2021 )
=22.712/( (226.495+224.646)/ 2 )
=22.712/225.5705
=10.07 %

* 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 (Jun. 2021) net income data.


RiverNorth Flexible Municipalome Fund  (NYSE:RFM) 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.


RiverNorth Flexible Municipalome Fund Return-on-Tangible-Asset Related Terms

Thank you for viewing the detailed overview of RiverNorth Flexible Municipalome Fund's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.


RiverNorth Flexible Municipalome Fund Business Description

RiverNorth Flexible Municipalome Fund logo
Industry
Financial Services » Asset Management NAICS : 523991 SIC : 6733
Comparable Companies
Traded in Other Exchanges
N/A
Address
325 North LaSalle Street, Suite 645, Chicago, IL, USA, 60654
RiverNorth Flexible Municipal Income Fund Inc is a diversified, closed-end management investment company. Its primary investment objective is to seek current income exempt from regular U.S. federal income taxes. The fund's secondary investment objective is total return.
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