Alliancebernstein National Muni FdAFB -0.09%30 Return-on-Tangible-Equity is 1.82% as of Apr. 2026, which is 6% above its 10-year median of 1.72. GuruFocus rates AFB with a GF Score™ of 30/100. The stock has 7 warning signs investors should review. Among 1,589 Asset Management companies, Alliancebernstein National Muni Fd ranks worse than 72.69% on this metric.
The historical rank and industry rank for Alliancebernstein National Muni Fd's Return-on-Tangible-Equity or its related term are showing as below:
AFB'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -25.56 Med: 1.72 Max: 18.23
Current: 0.98
During the past 9 years, Alliancebernstein National Muni Fd's highest Return-on-Tangible-Equity was 18.23%. The lowest was -25.56%. And the median was 1.72%.
AFB's Return-on-Tangible-Equity is ranked worse than 72.69% of 1589
companies
in the Asset Management industry
Industry Median: 7.21
vs AFB: 0.98
Alliancebernstein National Muni Fd (NYSE:AFB) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Alliancebernstein National Muni Fd Return-on-Tangible-Equity Related Terms
Alliancebernstein National Muni Fd Return-on-Tangible-Equity Historical Data
* 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.
Alliancebernstein National Muni Fd Return-on-Tangible-Equity Chart
AFB vs RFMZ, PPT, PSBD: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, Alliancebernstein National Muni Fd's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Alliancebernstein National Muni Fd Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Alliancebernstein National Muni Fd's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Alliancebernstein National Muni Fd's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is two times the semi-annual (Apr. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 1.82% mean?
Alliancebernstein National Muni Fd (AFB) has a Return-on-Tangible-Equity of 1.82% as of Apr. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Alliancebernstein National Muni Fd and its competitors. This is near median its historical median of 1.72. According to the industry distribution chart, Alliancebernstein National Muni Fd ranks #1155 out of 1589 companies in the Asset Management industry, placing it in the top 72.7%.
Is Alliancebernstein National Muni Fd's Return-on-Tangible-Equity too high?
Alliancebernstein National Muni Fd's current Return-on-Tangible-Equity of 1.82% is near median its 10-year median of 1.72. The Asset Management industry median Return-on-Tangible-Equity is 7.21. Alliancebernstein National Muni Fd's value of 1.82% is 74.8% below this industry median. Based on the distribution chart, Alliancebernstein National Muni Fd ranks #1155 out of 1589 companies in the Asset Management industry, which is below the industry midpoint. Overall, Alliancebernstein National Muni Fd has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Alliancebernstein National Muni Fd's Return-on-Tangible-Equity compare to RFMZ and PPT?
According to the Asset Management industry distribution chart, Alliancebernstein National Muni Fd ranks #1155 out of 1589 companies for Return-on-Tangible-Equity. This places Alliancebernstein National Muni Fd in the lower half of its industry. The industry median Return-on-Tangible-Equity is 7.21. Alliancebernstein National Muni Fd's value of 1.82% is 74.8% below this benchmark. While the company's 10-year median is 1.72 vs. the industry median of 7.21, Alliancebernstein National Muni Fd has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Asset Management company?
The median Return-on-Tangible-Equity among Asset Management companies is 7.21, based on 1,589 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Alliancebernstein National Muni Fd's current Return-on-Tangible-Equity of 1.82% is 74.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Alliancebernstein National Muni Fd and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Alliancebernstein National Muni Fd's current Return-on-Tangible-Equity is 1.82%, which is near median its own 10-year median of 1.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alliancebernstein National Muni Fd stock overvalued right now?
Alliancebernstein National Muni Fd (AFB) has a current Return-on-Tangible-Equity of 1.82%. The current Return-on-Tangible-Equity is 1.82%, which is near median its 10-year median of 1.72 and 74.8% below the Asset Management industry median of 7.21. Alliancebernstein National Muni Fd's overall GF Score™ is 30/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Alliancebernstein National Muni Fd (AFB), the current Return-on-Tangible-Equity is 1.82% as of Apr. 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.
Alliancebernstein National Muni Fd Business Description
Alliancebernstein National Muni Inc Fd is a diversified, closed-end management investment company. It seeks to provide high current income exempt from regular federal income tax by investing substantially all of its net assets in municipal securities that pay interest that is exempt from federal income tax.
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