Nuveen Taxable Municipalome Fund (Nuveen Taxable Municipalome Fund) Beneish M-Score : 0.00 (As of Apr. 26, 2024)

View and export this data going back to 2010. Start your Free Trial

What is Nuveen Taxable Municipalome Fund Beneish M-Score?

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.

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

During the past 6 years, the highest Beneish M-Score of Nuveen Taxable Municipalome Fund was 0.00. The lowest was 0.00. And the median was 0.00.

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:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

* 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 (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was $13.99 Mil.
Revenue was $-51.90 Mil.
Gross Profit was $-51.90 Mil.
Total Current Assets was $13.99 Mil.
Total Assets was $735.59 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 $0.36 Mil.
Total Current Liabilities was $8.41 Mil.
Long-Term Debt & Capital Lease Obligation was $188.86 Mil.
Net Income was $-52.25 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $94.98 Mil.

Total Receivables was $14.71 Mil.
Revenue was $-24.68 Mil.
Gross Profit was $-24.68 Mil.
Total Current Assets was $14.71 Mil.
Total Assets was $874.39 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 $0.34 Mil.
Total Current Liabilities was $4.32 Mil.
Long-Term Debt & Capital Lease Obligation was $260.42 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)
	=	(13.989 / -51.897)	/	(14.709 / -24.682)
	=		/
	=

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)
	=	(-24.682 / -24.682)	/	(-51.897 / -51.897)
	=		/
	=

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 - (13.989 + 0) / 735.59)	/	(1 - (14.709 + 0) / 874.386)
	=	0.980983	/	0.983178
	=

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
	=	-51.897	/	-24.682
	=

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))
	=		/
	=

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)
	=	(0.356 / -51.897)	/	(0.335 / -24.682)
	=		/
	=

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)
	=	((188.863 + 8.409) / 735.59)	/	((260.421 + 4.319) / 874.386)
	=	0.268182	/	0.302772
	=

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
	=	(-52.253 - 0	-	94.979)	/	735.59
	=	-0.200155

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 Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Nuveen Taxable Municipalome Fund's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Nuveen Taxable Municipalome Fund (Nuveen Taxable Municipalome Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Nuveen Taxable Municipal Income Fund (NYSE:NBB) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

333 West Wacker Drive, Chicago, IL, USA, 60606

Website

https://www.nuveen.com

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 invests primarily in a diversified portfolio of taxable municipal securities.

Executives

Kristen Dejong	other: Portfolio Manager	333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
Trey Iii Stenersen	officer: Vice President	333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
Brett Black	officer: Chief Compliance Officer	333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
John M. Mccann	officer: Vice President	333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
Joanne Medero	other: Trustee	333 W. WACKER DRIVE, C/O NUVEEN, STE 3400, CHICAGO IL 60606
Lancellotta Amy B.r.	other: Trustee	333 W. WACKER DRIVE, C/O NUVEEN, STE 3400, CHICAGO IL 60606
Matthew Iii Thornton	other: Trustee	3610 HACKS CROSS ROAD, MEMPHIS TN 38125
Deann Morgan	officer: Vice President	TWO WORLD FINANCIAL CENTER, 7TH FLOOR, NEW YORK NY 10281
Jon Scott Meissner	officer: Vice President	333 W WACKER DRIVE, STE 3400, CHICAGO IL 60606
Jacques M Longerstaey	officer: Vice President	333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
Brian J Lockhart	officer: Vice President	333 WEST WACKER DRIVE, C/O NUVEEN STE 3400, CHICAGO IL 60606
Gifford R Zimmerman	officer: Chief Administrative Officer	333 W WACKER DRIVE, C/O NUVEEN INVESTMENTS, CHICAGO IL 60606
E. Scott Wickerham	officer: Vice President	C/O NUVEEN, STE 3400, CHICAGO IL 60606
William T. Meyers	officer: Vice President	C/O NUVEEN, 333 W. WACKER DRIVE, CHICAGO IL 60606
Michael A Perry	officer: Vice Presidenrt	101 PARK AVENUE, SUITE 1400, OKLAHOMA CITY OK 73102