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Virtus Convertible &ome Fund II Piotroski F-Score

: 6 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Virtus Convertible &ome Fund II has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Virtus Convertible &ome Fund II's Piotroski F-Score or its related term are showing as below:

NCZ' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 6
Current: 6

During the past 4 years, the highest Piotroski F-Score of Virtus Convertible &ome Fund II was 6. The lowest was 5. And the median was 6.


Virtus Convertible &ome Fund II Piotroski F-Score Historical Data

The historical data trend for Virtus Convertible &ome Fund II's Piotroski F-Score 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.

Virtus Convertible &ome Fund II Annual Data
Trend Feb18 Feb19 Feb20 Feb21
Piotroski F-Score
N/A N/A 5.00 6.00

Virtus Convertible &ome Fund II Semi-Annual Data
Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 5.00 - 6.00 -

Competitive Comparison

For the Asset Management subindustry, Virtus Convertible &ome Fund II's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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.

   

Virtus Convertible &ome Fund II Piotroski F-Score Distribution

For the Asset Management industry and Financial Services sector, Virtus Convertible &ome Fund II's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Virtus Convertible &ome Fund II's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Feb21) TTM:Last Year (Feb20) TTM:
Net Income was $117.9 Mil.
Cash Flow from Operations was $0.0 Mil.
Revenue was $118.7 Mil.
Average Total Assets from the begining of this year (Feb20)
to the end of this year (Feb21) was (641.962 + 731.2) / 2 = $686.581 Mil.
Total Assets at the begining of this year (Feb20) was $642.0 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Assets was $731.2 Mil.
Total Liabilities was $18.7 Mil.
Net Income was $34.7 Mil.

Revenue was $35.5 Mil.
Average Total Assets from the begining of last year (Feb19)
to the end of last year (Feb20) was (676.476 + 641.962) / 2 = $659.219 Mil.
Total Assets at the begining of last year (Feb19) was $676.5 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Assets was $642.0 Mil.
Total Liabilities was $6.1 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Virtus Convertible &ome Fund II's current Net Income (TTM) was 117.9. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Virtus Convertible &ome Fund II's current Cash Flow from Operations (TTM) was 0.0. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Feb20)
=117.883/641.962
=0.18362925

ROA (Last Year)=Net Income/Total Assets (Feb19)
=34.678/676.476
=0.05126272

Virtus Convertible &ome Fund II's return on assets of this year was 0.18362925. Virtus Convertible &ome Fund II's return on assets of last year was 0.05126272. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Virtus Convertible &ome Fund II's current Net Income (TTM) was 117.9. Virtus Convertible &ome Fund II's current Cash Flow from Operations (TTM) was 0.0. ==> 0.0 <= 117.9 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Feb21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Feb20 to Feb21
=0/686.581
=0

Gearing (Last Year: Feb20)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Feb19 to Feb20
=0/659.219
=0

Virtus Convertible &ome Fund II's gearing of this year was 0. Virtus Convertible &ome Fund II's gearing of last year was 0. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

* Note that for banks and insurance companies, there's no Total Current Assets and Total Current Liabilities reported. Thus, we use Total Assets and Total Liabilities to calculate current ratio for banks and insurance companies.

Current Ratio (This Year: Feb21)=Total Assets/Total Liabilities
=731.2/18.681
=39.14137359

Current Ratio (Last Year: Feb20)=Total Assets/Total Liabilities
=641.962/6.055
=106.02180017

Virtus Convertible &ome Fund II's current ratio of this year was 39.14137359. Virtus Convertible &ome Fund II's current ratio of last year was 106.02180017. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Virtus Convertible &ome Fund II's number of shares in issue this year was 72.36. Virtus Convertible &ome Fund II's number of shares in issue last year was 76.116. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

* Note that for banks and insurance companies, there's no Gross Profit reported. Thus, we use net income instead of gross profit and calculate Net Margin for this score.

Net Margin (This Year: TTM)=Net Income/Revenue
=117.883/118.656
=0.99348537

Net Margin (Last Year: TTM)=Net Income/Revenue
=34.678/35.485
=0.977258

Virtus Convertible &ome Fund II's net margin of this year was 0.99348537. Virtus Convertible &ome Fund II's net margin of last year was 0.977258. ==> This year's net margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Feb20)
=118.656/641.962
=0.18483337

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Feb19)
=35.485/676.476
=0.05245567

Virtus Convertible &ome Fund II's asset turnover of this year was 0.18483337. Virtus Convertible &ome Fund II's asset turnover of last year was 0.05245567. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+0+1+0+1+0+1+1+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Virtus Convertible &ome Fund II has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Virtus Convertible &ome Fund II  (NYSE:NCZ) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Virtus Convertible &ome Fund II Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Virtus Convertible &ome Fund II's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Virtus Convertible &ome Fund II Business Description

Virtus Convertible &ome Fund II logo
Traded in Other Exchanges
Address
101 Munson Street, Greenfield, MA, USA, 01301
Virtus AllianzGI Convertible & Income Fund II is a diversified, closed-end management investment company. Its investment objective is to provide total return through a combination of capital appreciation and high current income. Its portfolio of investments includes different sector investments such as in the healthcare services, media, oil, gas and consumable fuels and others.
Executives
Decotis Deborah A director 1633 BROADWAY NEW YORK NY 10019
Yee Michael officer: Portfolio Manager C/O ALLIANZ EQUITY ADVISORS 1345 AVE OF THE AMERICAS NEW YORK NY 10105
Oberto David J. officer: Portfolio Manager 1633 BROADWAY NEW YORK NY 10019
Zino Brian T director 100 PARK AVENUE NEW YORK NY 10017
Macleod James S director 250 E KILBOURN AVE MILWAUKEE WI 53202
Smirl Richard W officer: EVP C/O VIRTUS INVESTMENT PARTNERS, INC. ONE FINANCIAL PLAZA HARTFORD CT 06103
Drummond F Ford director 100 N BROADWAY OKLAHOMA CITY OK 73102
Rappaport Alan director C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Waltman Francis G officer: EVP C/O VIRTUS INVESTMENT PARTNERS, INC. 100 PEARL STREET HARTFORD CT 06103
Aylward George R director, officer: President and CEO C/O VIRTUS INVESTMENT PARTNERS, INC. 100 PEARL STREET HARTFORD CT 06103
Bradley William Patrick Iii officer: EVP, CFO and Treasurer C/O VIRTUS INVESTMENT PARTNERS, INC. 56 PROSPECT STREET HARTFORD CT 06115
Mcloughlin Philip R director 800 SCUDDERS HILL ROAD PLAINSBORO NJ 08536
Pushpaharan Gem other: Affiliated Person 1633 BROADWAY NEW YORK NY 10019
Viggiano John other: Affiliated Person 1633 BROADWAY NEW YORK NY 10019
Ubs Group Ag 10 percent owner BAHNHOFSTRASSE 45 ZURICH V8 CH-8001

Virtus Convertible &ome Fund II Headlines

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