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

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.

*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.

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.

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.

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.

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

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

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