Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. New America Highome Fund's annualized net income for the quarter that ended in Dec. 2023 was $34.03 Mil. New America Highome Fund's average shareholder tangible equity for the quarter that ended in Dec. 2023 was $188.63 Mil. Therefore, New America Highome Fund's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2023 was 18.04%.
The historical rank and industry rank for New America Highome Fund's Return-on-Tangible-Equity or its related term are showing as below:
HYB'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -18.49 Med: 6.78 Max: 18.83
Current: 15.22
During the past 7 years, New America Highome Fund's highest Return-on-Tangible-Equity was 18.83%. The lowest was -18.49%. And the median was 6.78%.
HYB's Return-on-Tangible-Equity is ranked better than 79.18% of 1676
companies
in the Asset Management industry
Industry Median: 4.565
vs HYB: 15.22
New America Highome Fund Return-on-Tangible-Equity Historical Data
The historical data trend for New America Highome Fund's Return-on-Tangible-Equity 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.
For the Asset Management subindustry, New America Highome Fund's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
New America Highome Fund Return-on-Tangible-Equity Distribution
For the Asset Management industry and Financial Services sector, New America Highome Fund's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where New America Highome Fund's Return-on-Tangible-Equity falls into.
New America Highome Fund Return-on-Tangible-Equity Calculation
New America Highome Fund's annualized Return-on-Tangible-Equity for the fiscal year that ended in Dec. 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is two times the semi-annual (Dec. 2023) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
New America Highome Fund (NYSE:HYB) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity 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 Return-on-Tangible-Equitys can be extremely high.
New America Highome Fund Return-on-Tangible-Equity Related Terms
Thank you for viewing the detailed overview of New America Highome Fund's Return-on-Tangible-Equity provided by GuruFocus.com. Please click on the following links to see related term pages.
New America Highome Fund (New America Highome Fund) Business Description
New America High Income Fund Inc is a diversified, closed?end management investment company. Its investment objective is to provide high current income while seeking to preserve stockholder capital by investing in a diversified portfolio of high-yield fixed-income securities. The fund invests primarily in fixed-maturity corporate debt securities that are rated less than the investment grade. Its portfolio of investment consists of investments in different sectors such as energy, financial, cable operators, healthcare, and others.
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