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Virtus Dividend, Interest & Premium Strategy Fund Piotroski F-Score

: 4 (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 Dividend, Interest & Premium Strategy Fund has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Virtus Dividend, Interest & Premium Strategy Fund's Piotroski F-Score or its related term are showing as below:

NFJ' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 4   Max: 5
Current: 4

During the past 5 years, the highest Piotroski F-Score of Virtus Dividend, Interest & Premium Strategy Fund was 5. The lowest was 4. And the median was 4.


Virtus Dividend, Interest & Premium Strategy Fund Piotroski F-Score Historical Data

The historical data trend for Virtus Dividend, Interest & Premium Strategy Fund'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 Dividend, Interest & Premium Strategy Fund Annual Data
Trend Jan18 Jan19 Jan20 Jan21 Jan22
Piotroski F-Score
N/A N/A 5.00 4.00 4.00

Virtus Dividend, Interest & Premium Strategy Fund Semi-Annual Data
Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 - 4.00 - 4.00

Competitive Comparison

For the Asset Management subindustry, Virtus Dividend, Interest & Premium Strategy Fund'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 Dividend, Interest & Premium Strategy Fund Piotroski F-Score Distribution

For the Asset Management industry and Financial Services sector, Virtus Dividend, Interest & Premium Strategy Fund's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Virtus Dividend, Interest & Premium Strategy Fund'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 (Jan22) TTM:Last Year (Jan21) TTM:
Net Income was $192.0 Mil.
Cash Flow from Operations was $0.0 Mil.
Revenue was $193.1 Mil.
Average Total Assets from the begining of this year (Jan21)
to the end of this year (Jan22) was (1446.048 + 1582.146) / 2 = $1514.097 Mil.
Total Assets at the begining of this year (Jan21) was $1,446.0 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Assets was $1,582.1 Mil.
Total Liabilities was $33.8 Mil.
Net Income was $167.2 Mil.

Revenue was $168.0 Mil.
Average Total Assets from the begining of last year (Jan20)
to the end of last year (Jan21) was (1394.19 + 1446.048) / 2 = $1420.119 Mil.
Total Assets at the begining of last year (Jan20) was $1,394.2 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Total Assets was $1,446.0 Mil.
Total Liabilities was $4.4 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 Dividend, Interest & Premium Strategy Fund's current Net Income (TTM) was 192.0. ==> 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 Dividend, Interest & Premium Strategy Fund'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 (Jan21)
=192.027/1446.048
=0.13279435

ROA (Last Year)=Net Income/Total Assets (Jan20)
=167.172/1394.19
=0.11990618

Virtus Dividend, Interest & Premium Strategy Fund's return on assets of this year was 0.13279435. Virtus Dividend, Interest & Premium Strategy Fund's return on assets of last year was 0.11990618. ==> 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 Dividend, Interest & Premium Strategy Fund's current Net Income (TTM) was 192.0. Virtus Dividend, Interest & Premium Strategy Fund's current Cash Flow from Operations (TTM) was 0.0. ==> 0.0 <= 192.0 ==> 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: Jan22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan21 to Jan22
=0/1514.097
=0

Gearing (Last Year: Jan21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jan20 to Jan21
=0/1420.119
=0

Virtus Dividend, Interest & Premium Strategy Fund's gearing of this year was 0. Virtus Dividend, Interest & Premium Strategy Fund'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: Jan22)=Total Assets/Total Liabilities
=1582.146/33.774
=46.84508794

Current Ratio (Last Year: Jan21)=Total Assets/Total Liabilities
=1446.048/4.382
=329.99726152

Virtus Dividend, Interest & Premium Strategy Fund's current ratio of this year was 46.84508794. Virtus Dividend, Interest & Premium Strategy Fund's current ratio of last year was 329.99726152. ==> 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 Dividend, Interest & Premium Strategy Fund's number of shares in issue this year was 95.063. Virtus Dividend, Interest & Premium Strategy Fund's number of shares in issue last year was 94.447. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=192.027/193.084
=0.9945257

Net Margin (Last Year: TTM)=Net Income/Revenue
=167.172/168.009
=0.99501812

Virtus Dividend, Interest & Premium Strategy Fund's net margin of this year was 0.9945257. Virtus Dividend, Interest & Premium Strategy Fund's net margin of last year was 0.99501812. ==> Last year's net margin is higher ==> Score 0.

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 (Jan21)
=193.084/1446.048
=0.1335253

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jan20)
=168.009/1394.19
=0.12050653

Virtus Dividend, Interest & Premium Strategy Fund's asset turnover of this year was 0.1335253. Virtus Dividend, Interest & Premium Strategy Fund's asset turnover of last year was 0.12050653. ==> 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+0+0+1
=4

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

Virtus Dividend, Interest & Premium Strategy Fund has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Virtus Dividend, Interest & Premium Strategy Fund  (NYSE:NFJ) 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 Dividend, Interest & Premium Strategy Fund Piotroski F-Score Related Terms

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


Virtus Dividend, Interest & Premium Strategy Fund Business Description

Virtus Dividend, Interest & Premium Strategy Fund logo
Industry
Financial Services » Asset Management NAICS : 523991 SIC : 6733
Traded in Other Exchanges
N/A
Address
101 Munson Street, Greenfield, MA, USA, 01301
Virtus Dividend, Interest & Premium Strategy Fund is a Massachusetts-based business trust. Its primary investment objective is to seek current income and gains, with a secondary objective of long-term capital appreciation. The fund pursues its investment objectives by investing in a diversified portfolio of dividend-paying common stocks and income-producing convertible securities.
Executives
Mowrey John R. other: Portfolio Manager 1633 BROADWAY NEW YORK NY 10019
Oliver Thomas W Jr other: Affiliated Person 2121 SAN JACINTO DRIVE DALLAS TX 75201
Pushpaharan Gem other: Affiliated Person 1633 BROADWAY NEW YORK NY 10019
Viggiano John other: Affiliated Person 1633 BROADWAY NEW YORK NY 10019
Cogan Sarah E director 1633 BROADWAY NEW YORK NY 10019
Macleod James S director 250 E KILBOURN AVE MILWAUKEE WI 53202
Parker Jeffrey D other: See Remarks 1345 AVENUE OF THE AMERICAS NEW YORK NY 10105
Holt Erick director 1633 BROADWAY NEW YORK NY 10019
Ruckman Craig officer: Assistant Secretary 1633 BROADWAY NEW YORK NY 10019
Rappaport Alan director C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Magnuson Paul A other: Portfolio Manager 2121 SAN JACINTO, SUITE 1840 DALLAS TX 75201
Mildner Heiko other: Affiliated Person 1633 BROADWAY NEW YORK NY 10019
Thompson Kathleen C. other: Affiliated Person 1633 BROADWAY NEW YORK NY 10019
Fischer Ben J other: Portfolio Manager 1633 BROADWAY NEW YORK NY 10019
Grau William other: SEE REMARKS C/O ALLIANZ GLOBAL INVESTORS U.S. LLC 1633 BROADWAY NEW YORK NY 10019

Virtus Dividend, Interest & Premium Strategy Fund Headlines

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