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RiverNorth Flexible Municipalome Fund Return-on-Tangible-Equity

: 15.40% (As of Jun. 2021)
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Return-on-Tangible-Equity is calculated as Net Income attributable to Common Stockholders divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. RiverNorth Flexible Municipalome Fund's annualized net income attributable to common stockholders for the quarter that ended in Jun. 2021 was $22.71 Mil. RiverNorth Flexible Municipalome Fund's average shareholder tangible equity for the quarter that ended in Jun. 2021 was $147.48 Mil. Therefore, RiverNorth Flexible Municipalome Fund's annualized Return-on-Tangible-Equity for the quarter that ended in Jun. 2021 was 15.40%.

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

NYSE:RFM' s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 7.98   Med: 13.66   Max: 19.16
Current: 7.98

7.98
19.16

During the past 2 years, RiverNorth Flexible Municipalome Fund's highest Return-on-Tangible-Equity was 19.16%. The lowest was 7.98%. And the median was 13.66%.

NYSE:RFM's Return-on-Tangible-Equity is ranked lower than
99.99% of the 65 Companies
in the Asset Management industry.

( Industry Median: 11.74 vs. NYSE:RFM: 7.98 )

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

The historical data trend for RiverNorth Flexible Municipalome 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.

* Premium members only.

RiverNorth Flexible Municipalome Fund Annual Data
Trend Jun20 Jun21
Return-on-Tangible-Equity
8.16 19.16

RiverNorth Flexible Municipalome Fund Semi-Annual Data
Jun20 Dec20 Jun21
Return-on-Tangible-Equity - - 15.40

Competitive Comparison

For the Asset Management subindustry, RiverNorth Flexible Municipalome 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.

   

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

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

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



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

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

Return-on-Tangible-Equity=Net Income attributable to Common Stockholders/( (Total Tangible Equity+Total Tangible Equity)/ count )
(A: Jun. 2021 )  (A: Jun. 2020 )(A: Jun. 2021 )
=Net Income attributable to Common Stockholders/( (Total Stockholders Equity - Intangible Assets+Total Stockholders Equity - Intangible Assets )/ count )
(A: Jun. 2021 )  (A: Jun. 2020 )(A: Jun. 2021 )
=27.113/( (131.774+151.242 )/ 2 )
=27.113/141.508
=19.16 %

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

Return-on-Tangible-Equity=Net Income attributable to Common Stockholders/( (Total Tangible Equity+Total Tangible Equity)/ count )
(Q: Jun. 2021 )  (Q: Dec. 2020 )(Q: Jun. 2021 )
=Net Income attributable to Common Stockholders/( (Total Stockholders Equity - Intangible Assets+Total Stockholders Equity - Intangible Assets)/ count )
(Q: Jun. 2021 )  (Q: Dec. 2020 )(Q: Jun. 2021 )
=22.712/( (143.708+151.242)/ 2 )
=22.712/147.475
=15.40 %

* 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 attributable to common stockholders 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 attributable to common stockholders data used here is two times the semi-annual (Jun. 2021) net income attributable to common stockholders data. Return-on-Tangible-Equity is displayed in the 10-year financial page.


RiverNorth Flexible Municipalome Fund  (NYSE:RFM) 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 attributable to common stockholders 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.


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

Thank you for viewing the detailed overview of RiverNorth Flexible Municipalome Fund's Return-on-Tangible-Equity 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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