GURUFOCUS.COM » STOCK LIST » USA » NYSE » Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) » Definitions » Financial Strength
Switch to:

Nuveen New Jersey Quality Municipalome Fund (NYSE:NXJ) Financial Strength

: 8 (As of Aug. 2023)
View and export this data going back to 2001. Start your Free Trial

Nuveen New Jersey Quality Municipalome Fund has the Financial Strength Rank of 8. It shows strong financial strength and is unlikely to fall into distressed situations.

Good Sign:

Nuveen New Jersey Quality Municipal Income Fund shows strong financial strength.

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3. Altman Z-Score.

GuruFocus does not calculate Nuveen New Jersey Quality Municipalome Fund's interest coverage with the available data. Nuveen New Jersey Quality Municipalome Fund's debt to revenue ratio for the quarter that ended in Aug. 2023 was 0.00. Altman Z-Score does not apply to banks and insurance companies.


Nuveen New Jersey Quality Municipalome Fund Financial Strength Calculation

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

Nuveen New Jersey Quality Municipalome Fund's Interest Expense for the months ended in Aug. 2023 was $-7.44 Mil. Its Operating Income for the months ended in Aug. 2023 was $0.00 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Aug. 2023 was $0.00 Mil.

Nuveen New Jersey Quality Municipalome Fund's Interest Coverage for the quarter that ended in Aug. 2023 is

The higher the ratio, the stronger the company's financial strength is.

Good Sign:

Nuveen New Jersey Quality Municipal Income Fund has no debt.

2. Debt to revenue ratio. The lower, the better.

Nuveen New Jersey Quality Municipalome Fund's Debt to Revenue Ratio for the quarter that ended in Aug. 2023 is

Debt to Revenue Ratio=Total Debt (Q: Aug. 2023 ) / Revenue
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / Revenue
=(0 + 0) / 13.592
=0.00

3. Altman Z-Score.

Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

The zones of discrimination were as such:

When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.

Altman Z-Score does not apply to banks and insurance companies.

* 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.


Nuveen New Jersey Quality Municipalome Fund  (NYSE:NXJ) Financial Strength Explanation

The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.

Nuveen New Jersey Quality Municipalome Fund has the Financial Strength Rank of 8. It shows strong financial strength and is unlikely to fall into distressed situations.


Nuveen New Jersey Quality Municipalome Fund Financial Strength Related Terms

Thank you for viewing the detailed overview of Nuveen New Jersey Quality Municipalome Fund's Financial Strength provided by GuruFocus.com. Please click on the following links to see related term pages.


Nuveen New Jersey Quality Municipalome Fund (NYSE:NXJ) Business Description

Traded in Other Exchanges
N/A
Address
333 West Wacker Drive, Chicago, IL, USA, 60606
Nuveen New Jersey Quality Municipal Income Fund is a closed-end investment management company. Its objective is to provide current income exempt from regular federal and New Jersey income tax and to enhance portfolio value relative to the municipal bond market by investing in tax-exempt municipal bonds that the Fund's investment adviser believes are underrated or undervalued or that represent municipal market sectors that are undervalued.
Executives
Saba Capital Management, L.p. 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Boaz Weinstein 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
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
Lancellotta Amy B.r. other: Trustee 333 W. 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
Matthew Iii Thornton other: Trustee 3610 HACKS CROSS ROAD, MEMPHIS TN 38125
Deann Morgan other: 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
E. Scott Wickerham officer: Vice President C/O NUVEEN, STE 3400, CHICAGO IL 60606
Demark L Winget officer: Vice President C/O NUVEEN INVESTMENTS, 333 W WACKER DRIVE, CHICAGO IL 60606
William T. Meyers officer: Vice President C/O NUVEEN, 333 W. WACKER DRIVE, CHICAGO IL 60606