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Mohanram G-Score is a financial indicator developed by professor Partha Mohanram to help investors find the best investment opportunities in the growth stocks. Companies have higher G-score tends to generate higher return. According to his study, the best growth stocks that have a G-Score greater than 6 tend to beat the market, while those with a G-Score lower than 1 tend to have negative absolute returns.
Thus, the zones of discrimination were as such:
Good or high score = 6, 7, 8
Bad or low score = 0, 1
Neuberger Berman CA Muni Fund has an G-score of 0. It is a bad or low score, which tends to have negative absolute returns.
The historical rank and industry rank for Neuberger Berman CA Muni Fund's Mohanram G-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski G-score of Neuberger Berman CA Muni Fund was 1. The lowest was 0. And the median was 0.
The historical data trend for Neuberger Berman CA Muni Fund's Mohanram G-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.
Neuberger Berman CA Muni Fund Annual Data | |||||||||||||||||||||
Trend | Oct13 | Oct14 | Oct15 | Oct16 | Oct17 | Oct18 | Oct19 | Oct20 | Oct21 | Oct22 | |||||||||||
Mohanram G-Score | Get a 7-Day Free Trial | - | 1.00 | - | 1.00 | - |
Neuberger Berman CA Muni Fund Semi-Annual Data | ||||||||||||||||||||
Oct13 | Apr14 | Oct14 | Apr15 | Oct15 | Apr16 | Oct16 | Apr17 | Oct17 | Apr18 | Oct18 | Apr19 | Oct19 | Apr20 | Oct20 | Apr21 | Oct21 | Apr22 | Oct22 | Apr23 | |
Mohanram G-Score | Get a 7-Day Free Trial | N/A | 1.00 | N/A | - | N/A |
The calculation of the Mohanram G-score consists of eight criteria. Assign one point for each criterion met, then add up all the points to get the G-Score.
Profitability
Question 1. Return on Assets (ROA)
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. It measures how well a company uses its asset to generate earnings.
Score 1 if ROA > ROA Industry Median, 0 otherwise.
Question 2. Cash ROA
Cash ROA equals to Cash Flow from Operations divided by average Total Assets. It measures how well a company uses its asset to generate cash.
Score 1 if Cash ROA > Cash ROA Industry Median, 0 otherwise.
Question 3. CFO and Net Income
Score 1 if CFO > Net Income, 0 otherwise.
Earnings Predictability
Question 4. Earnings Variability
Earnings Variability is measured as the variance of a firm's ROA in the past five years.
Score 1 if Earnings Variability < Earnings Variability Industry Median, 0 otherwise.
Question 5. Sales Growth Variability
Sales Growth Variability is measured as the 5-year variance in sales growth.
Score 1 if Sales Growth Variability < Sales Growth Variability Industry Median, 0 otherwise.
Accounting Conservatism
Question 6. Research & Development Intensity
Research & Development Intensity is calcualted by Research & Development divided by the beginning Total Assets.
Score 1 if Research & Development Intensity > Research & Development Intensity Industry Median, 0 otherwise.
Question 7. CAPEX Intensity
CAPEX Intensity is calcualted by Capital Expenditure divided by the beginning Total Assets.
Score 1 if CAPEX Intensity > CAPEX Intensity Industry Median, 0 otherwise.
Question 8. Advertising Expenditure Intensity
Advertising Expenditure Intensity is calcualted by Advertising Expenditure divided by the beginning Total Assets. Note that Advertising Expenditure is not reported as a seperate line item for many companies, thus Selling, General, & Admin. Expense is used in this calculation.
Score 1 if Advertising Expenditure Intensity > Advertising Expenditure Intensity Industry Median, 0 otherwise.
* 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 that all the Industry Median used for comparison in his original research, are substituted with Sector Median due to the limitation of data within certain countries.
Good or high score = 6, 7, 8
Bad or low score = 0, 1
Neuberger Berman CA Muni Fund has an G-score of 0. It is a bad or low score, which tends to have negative absolute returns.
Neuberger Berman CA Muni Fund (AMEX:NBW) Mohanram G-Score Explanation
Partha Mohanram is the John H. Watson Chair in Value Investing at Rotman and the Acting Vice-Dean of Research Strategy and Resources.
In 2000, he wrote a research paper called "Separating Winners from Losers Among Low Book-to-Market Stocks Using Financial Statement Analysis".
This paper tests whether a strategy based on financial statement analysis of low book-to-market (growth) stocks is successful in differentiating between winners and losers in terms of future stock performance. Based on the research, a strategy based on buying high G-score (6, 7 or 8) firms and shorting low G-score (0 or 1) firms consistently earns significant excess returns. Further, the results do not support a risk based explanation for the book-to-market effect as the strategy returns positive returns in all years, and firms that ex-ante appear less risky have better future returns.
To conclude, one can use a modified fundamental analysis strategy (G-score) to identify mispricing and earn substantial abnormal returns.
Thank you for viewing the detailed overview of Neuberger Berman CA Muni Fund's Mohanram G-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Boaz Weinstein | 10 percent owner | 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174 |
Saba Capital Management, L.p. | 10 percent owner | 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174 |
Franklyn E. Smith | director | C/O NEUBERGER BERMAN INVESTMENT ADVISERS, 1290 AVENUE OF THE AMERICAS, NEW YORK NY 10104-0002 |
Ami Kaplan | director | C/O NEUBERGER BERMAN INVESTMENT ADVISERS, 1290 AVENUE OF THE AMERICAS, NEW YORK NY 10104-0002 |
Bradley Tank | other: CEO of Affil. of Inv. Mgr. | C/O LEHMAN BROTHERS ASSET MANAGEMENT, 190 SOUTH LASALLE STREET, CHICAGO IL 60603-3421 |
James G. Stavridis | director | C/O NEUBERGER BERMAN MANAGEMENT LLC, 605 THIRD AVENUE, NEW YORK NY 10158-0180 |
Deborah C. Mclean | director | C/O NEUBERGER BERMAN MANAGEMENT LLC, 605 THIRD AVENUE, NEW YORK NY 10158-0180 |
Marc Gary | director | C/O NEUBERGER BERMAN MANAGEMENT LLC, 605 THIRD AVENUE, NEW YORK NY 10158-3698 |
Michael J. Cosgrove | director | C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE NY 10580 |
Brian Patrick Kerrane | officer: Chief Operating Officer | C/O NEUBERGER BERMAN MANAGEMENT LLC, 605 THIRD AVENUE, NEW YORK NY 10158 |
Bank Of America Corp /de/ | 10 percent owner | BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST, CHARLOTTE NC 28255 |
Blue Ridge Investments, L.l.c. | 10 percent owner | ONE BRYANT PARK, NEW YORK NY 10036 |
Bank Of America Na | 10 percent owner | 100 N. TRYON STREET, CHARLOTTE NC 28255 |
Banc Of America Preferred Funding Corp | 10 percent owner | 214 NORTH TRYON STREET, CHARLOTTE NC 28255 |
Stephen Blake Miller | other: Portfolio Manager | C/O NEUBERGER BERMAN LLC, 605 THIRD AVENUE, NEW YORK NY 10158-0180 |
From GuruFocus
By PRNewswire PRNewswire • 12-16-2020
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