NBB (Nuveen Taxable Municipalome Fund) Beneish M-Score: -3.32 (As of Jul. 25, 2026)

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NBB Nuveen Taxable Municipal Income Fund NBB
54 GF Score
Price $15.20
GF Value $18.78
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Nuveen Taxable Municipalome Fund Beneish M-Score?

Nuveen Taxable Municipalome Fund NBB +0.20% 54 Beneish M-Score is -3.32 as of Jul. 25, 2026. GuruFocus rates NBB with a GF Score™ of 54/100 and a GF Value™ of $18.78 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 952 Asset Management companies, Nuveen Taxable Municipalome Fund ranks better than 88.03% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -3.32 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Nuveen Taxable Municipalome Fund's Beneish M-Score or its related term are showing as below:

NBB' s Beneish M-Score Range Over the Past 10 Years
Min: -3.32   Med: 2.73   Max: 8.77
Current: -3.32

During the past 9 years, the highest Beneish M-Score of Nuveen Taxable Municipalome Fund was 8.77. The lowest was -3.32. And the median was 2.73.

NBB
54GF Score
Nuveen Taxable Municipal Income Fund NBB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Nuveen Taxable Municipalome Fund Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Nuveen Taxable Municipalome Fund for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.0901+0.528 * 1+0.404 * 1+0.892 * 1.1639+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.4915+4.679 * -0.036097-0.327 * 1.2157
=-3.32

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $14.35 Mil.
Revenue was $27.75 Mil.
Gross Profit was $27.75 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $697.43 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.37 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $197.93 Mil.
Net Income was $27.38 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $52.55 Mil.
 Total Receivables was $136.91 Mil.
Revenue was $23.84 Mil.
Gross Profit was $23.84 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $846.05 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.65 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $197.51 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(14.35 / 27.745) / (136.907 / 23.837)
=0.51721 / 5.743466
=0.0901

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(23.837 / 23.837) / (27.745 / 27.745)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 0) / 697.428) / (1 - (0 + 0) / 846.05)
=1 / 1
=1

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=27.745 / 23.837
=1.1639

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(0 / (0 + 0)) / (0 / (0 + 0))
= /
=1

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0.369 / 27.745) / (0.645 / 23.837)
=0.0133 / 0.027059
=0.4915

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((197.934 + 0) / 697.428) / ((197.51 + 0) / 846.05)
=0.283806 / 0.23345
=1.2157

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(27.376 - 0 - 52.551) / 697.428
=-0.036097

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Nuveen Taxable Municipalome Fund has a M-score of -3.32 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -3.32 mean?
Nuveen Taxable Municipalome Fund (NBB) has a Beneish M-Score of -3.32 as of Jul. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nuveen Taxable Municipalome Fund and its competitors. According to the industry distribution chart, Nuveen Taxable Municipalome Fund ranks #114 out of 952 companies in the Asset Management industry, placing it in the top 12%.
Is Nuveen Taxable Municipalome Fund's Beneish M-Score too high?
Nuveen Taxable Municipalome Fund's current Beneish M-Score is -3.32. Based on the distribution chart, Nuveen Taxable Municipalome Fund ranks #114 out of 952 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Nuveen Taxable Municipalome Fund has a GF Score™ of 54/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nuveen Taxable Municipalome Fund's Beneish M-Score compare to HPS and VVR?
According to the Asset Management industry distribution chart, Nuveen Taxable Municipalome Fund ranks #114 out of 952 companies for Beneish M-Score. This places Nuveen Taxable Municipalome Fund in the top 12% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Asset Management company?
A good Beneish M-Score depends on the Asset Management industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nuveen Taxable Municipalome Fund and its competitors. Nuveen Taxable Municipalome Fund's current Beneish M-Score is -3.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nuveen Taxable Municipalome Fund stock overvalued right now?
Based on GuruFocus' analysis, Nuveen Taxable Municipalome Fund (NBB) is currently considered Modestly Undervalued. The stock's GF Value™ is $18.78, compared to a current price of $15.20 — trading 19.1% below its estimated fair value. The current Beneish M-Score is -3.32. Nuveen Taxable Municipalome Fund's overall GF Score™ is 54/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Nuveen Taxable Municipalome Fund (NBB), the current Beneish M-Score is -3.32 as of Jul. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Nuveen Taxable Municipalome Fund (NBB) Overvalued in 2026?

Based on GuruFocus' analysis, Nuveen Taxable Municipalome Fund stock appears to be undervalued. The current stock price of $15.20 is trading 19.1% below its estimated GF Value™ of $18.78. GuruFocus considers Nuveen Taxable Municipalome Fund to be Modestly Undervalued.

Key valuation signals for NBB:

  • Beneish M-Score: -3.32
  • GF Value™: $18.78 vs. price of $15.20 (19.1% below fair value)
  • GF Score™: 54/100 with 4 warning signs

No single metric tells the full story. See the NBB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Nuveen Taxable Municipalome Fund Business Description

Address 333 West Wacker Drive, Chicago, IL, USA, 60606
Nuveen Taxable Municipal Income Fund is a closed-end fund incorporated in the United States. Its primary objective is current income through investments in taxable municipal securities; the secondary objective is to seek enhanced portfolio value and total return. The fund has single operating segment.
54GF Score

Get the complete analysis for NBB

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$15.20
Price
$18.78
GF Value