GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Virtus Global Dividend & Income Fund Inc (NYSE:ZTR) » Definitions » Piotroski F-Score

Virtus Global Dividend &ome Fund (Virtus Global Dividend &ome Fund) Piotroski F-Score : 0 (As of Apr. 27, 2024)


View and export this data going back to . Start your Free Trial

What is Virtus Global Dividend &ome Fund Piotroski F-Score?

The zones of discrimination were as such:

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

Virtus Global Dividend &ome Fund has an F-score of 5 indicating the company's financial situation is typical for a stable company.

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


Virtus Global Dividend &ome Fund Piotroski F-Score Historical Data

The historical data trend for Virtus Global Dividend &ome 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 Global Dividend &ome Fund Piotroski F-Score Chart

Virtus Global Dividend &ome Fund Annual Data
Trend Dec17 Nov18 Nov19
Piotroski F-Score
- - -

Virtus Global Dividend &ome Fund Semi-Annual Data
Dec17 Nov18 May19 Nov19
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.

This Year (Nov19) TTM:Last Year (Nov18) TTM:
Net Income was $33.28 Mil.
Cash Flow from Operations was $25.98 Mil.
Revenue was $35.26 Mil.
Average Total Assets from the begining of this year (Nov18)
to the end of this year (Nov19) was (366.582 + 688.012) / 2 = $527.297 Mil.
Total Assets at the begining of this year (Nov18) was $366.58 Mil.
Long-Term Debt & Capital Lease Obligation was $184.75 Mil.
Total Assets was $688.01 Mil.
Total Liabilities was $200.11 Mil.
Net Income was $-30.84 Mil.

Revenue was $-29.07 Mil.
Average Total Assets from the begining of last year (Dec17)
to the end of last year (Nov18) was (442.594 + 366.582) / 2 = $404.588 Mil.
Total Assets at the begining of last year (Dec17) was $442.59 Mil.
Long-Term Debt & Capital Lease Obligation was $100.00 Mil.
Total Assets was $366.58 Mil.
Total Liabilities was $107.57 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 Global Dividend &ome Fund's current Net Income (TTM) was 33.28. ==> 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 Global Dividend &ome Fund's current Cash Flow from Operations (TTM) was 25.98. ==> Positive ==> Score 1.

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 (Nov18)
=33.284/366.582
=0.09079551

ROA (Last Year)=Net Income/Total Assets (Dec17)
=-30.835/442.594
=-0.06966882

Virtus Global Dividend &ome Fund's return on assets of this year was 0.09079551. Virtus Global Dividend &ome Fund's return on assets of last year was -0.06966882. ==> 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 Global Dividend &ome Fund's current Net Income (TTM) was 33.28. Virtus Global Dividend &ome Fund's current Cash Flow from Operations (TTM) was 25.98. ==> 25.98 <= 33.28 ==> 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: Nov19)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov18 to Nov19
=184.75/527.297
=0.3503718

Gearing (Last Year: Nov18)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec17 to Nov18
=100/404.588
=0.24716502

Virtus Global Dividend &ome Fund's gearing of this year was 0.3503718. Virtus Global Dividend &ome Fund's gearing of last year was 0.24716502. ==> Last year is lower than this year ==> Score 0.

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: Nov19)=Total Assets/Total Liabilities
=688.012/200.113
=3.43811746

Current Ratio (Last Year: Nov18)=Total Assets/Total Liabilities
=366.582/107.569
=3.40787773

Virtus Global Dividend &ome Fund's current ratio of this year was 3.43811746. Virtus Global Dividend &ome Fund's current ratio of last year was 3.40787773. ==> This year's current ratio is higher. ==> Score 1.

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 Global Dividend &ome Fund's number of shares in issue this year was 43.795. Virtus Global Dividend &ome Fund's number of shares in issue last year was 24.28. ==> 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
=33.284/35.256
=0.94406626

Net Margin (Last Year: TTM)=Net Income/Revenue
=-30.835/-29.07
=1.06071551

Virtus Global Dividend &ome Fund's net margin of this year was 0.94406626. Virtus Global Dividend &ome Fund's net margin of last year was 1.06071551. ==> 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 (Nov18)
=35.256/366.582
=0.09617493

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec17)
=-29.07/442.594
=-0.06568096

Virtus Global Dividend &ome Fund's asset turnover of this year was 0.09617493. Virtus Global Dividend &ome Fund's asset turnover of last year was -0.06568096. ==> 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+1+1+0+0+1+0+0+1
=5

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

Virtus Global Dividend &ome Fund has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Virtus Global Dividend &ome Fund  (NYSE:ZTR) 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 Global Dividend &ome Fund Piotroski F-Score Related Terms

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


Virtus Global Dividend &ome Fund (Virtus Global Dividend &ome Fund) Business Description

Traded in Other Exchanges
N/A
Address
101 Munson Street, Greenfield, MA, USA, 01301-9683
Virtus Global Dividend & Income Fund Inc is a closed-end diversified management investment company. The company's investment objective is to seek total return, consisting of capital appreciation and income. The fund invests in various sectors such as consumer discretionary, financials, healthcare, industrials, consumer staples, telecommunication services, utilities, and others.
Executives
John R Mallin director C/O VIRTUS INVESTMENT PARTNERS, INC., ONE FINANCIAL PLAZA, 26TH FL., HARTFORD CT 06103
R Keith Walton director 100 PEARL STREET, HARTFORD CT 06103
Grumhaus David D Jr. other: Co-CIO 200 S. WACKER DRIVE, SUITE 500, CHICAGO IL 60606
Donald C Burke director C/O BLACKROCK FINANCIAL MANAGEMENT, INC., 40 EAST 52ND STREET, NEW YORK NY 10022
Mcdaniel Connie D director C/O VIRTUS INVESTMENT PARTNERS, INC., ONE FINANCIAL PLAZA, 26TH FL., HARTFORD CT 06103
Sidney E Harris director C/O VIRTUS INVESTMENT PARTNERS, INC., ONE FINANCIAL PLAZA, 26TH FL., HARTFORD CT 06103
Geraldine M Mcnamara director 150 EAST 44TH ST, APT 35G, NEW YORK NY 10017
Philip R Mcloughlin director 800 SCUDDERS HILL ROAD, PLAINSBORO NJ 08536
Brian T Zino director 100 PARK AVENUE, NEW YORK NY 10017
Willliam R Moyer director C/O VIRTUS INVESTMENT PARTNERS, INC., HARTFORD CT 06103
James M Oates director C/O INVESTORS FINANCIAL SERVICES CORP, 200 CLARENDON ST, BOSTON MA 02116
Wright William H Ii director C/O VIRTUS INVESTMENT PARTNERS, 100 PEARL STREET, HARTFORD CT 06103
David Dickerson officer: SVP & PM of the Adviser
Christopher Ruddy director 1120 BEAR ISLAND DRIVE WEST PALM BEACH FL 33409
Carlton Neel officer: SVP & Portfolio Manager ZWEIG FUNDS 900 THIRD AVE NEW YORK NY 10022