Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Pioneer Floating Rate Trust's annualized net income for the quarter that ended in May. 2025 was $3.91 Mil. Pioneer Floating Rate Trust's average shareholder tangible equity for the quarter that ended in May. 2025 was $126.00 Mil. Therefore, Pioneer Floating Rate Trust's annualized Return-on-Tangible-Equity for the quarter that ended in May. 2025 was 3.10%.
The historical rank and industry rank for Pioneer Floating Rate Trust's Return-on-Tangible-Equity or its related term are showing as below:
PHD'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -8.77 Med: 4.79 Max: 13.17
Current: 6.59
During the past 8 years, Pioneer Floating Rate Trust's highest Return-on-Tangible-Equity was 13.17%. The lowest was -8.77%. And the median was 4.79%.
PHD's Return-on-Tangible-Equity is not ranked
in the Asset Management industry.
Industry Median: 7.18
vs PHD: 6.59
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.
Pioneer Floating Rate Trust Return-on-Tangible-Equity Related Terms
Pioneer Floating Rate Trust 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.
PHD vs DEFG, PIAC, SVVC: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, Pioneer Floating Rate Trust'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.
Pioneer Floating Rate Trust Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Pioneer Floating Rate Trust's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Pioneer Floating Rate Trust'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 (May. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 3.10% mean?
Pioneer Floating Rate Trust (PHD) has a Return-on-Tangible-Equity of 3.10% as of May. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Pioneer Floating Rate Trust and its competitors. This is 35% below median its historical median of 4.79.
Is Pioneer Floating Rate Trust's Return-on-Tangible-Equity too high?
Pioneer Floating Rate Trust's current Return-on-Tangible-Equity of 3.10% is 35% below median its 10-year median of 4.79. The Asset Management industry median Return-on-Tangible-Equity is 7.18. Pioneer Floating Rate Trust's value of 3.10% is 56.8% below this industry median. Overall, Pioneer Floating Rate Trust has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Pioneer Floating Rate Trust's Return-on-Tangible-Equity compare to DEFG and PIAC?
Pioneer Floating Rate Trust's Return-on-Tangible-Equity of 3.10% can be compared against companies in the Asset Management industry. The industry median Return-on-Tangible-Equity is 7.18. Pioneer Floating Rate Trust's value of 3.10% is 56.8% below this benchmark. While the company's 10-year median is 4.79 vs. the industry median of 7.18, Pioneer Floating Rate Trust 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 7.18, based on 1,587 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. Pioneer Floating Rate Trust's current Return-on-Tangible-Equity of 3.10% is 56.8% 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 Pioneer Floating Rate Trust and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pioneer Floating Rate Trust's current Return-on-Tangible-Equity is 3.10%, which is 35% below median its own 10-year median of 4.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pioneer Floating Rate Trust stock overvalued right now?
Pioneer Floating Rate Trust (PHD) has a current Return-on-Tangible-Equity of 3.10%. The current Return-on-Tangible-Equity is 3.10%, which is 35% below median its 10-year median of 4.79 and 56.8% below the Asset Management industry median of 7.18. Pioneer Floating Rate Trust's overall GF Score™ is 12/100 with 1 warning sign 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 Pioneer Floating Rate Trust (PHD), the current Return-on-Tangible-Equity is 3.10% as of May. 2025. 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.
Pioneer Floating Rate Trust is a diversified, closed-end fund. It invests in the fixed income markets of the United States. The fund basically invests in senior secured floating-rate loans. It benchmarks the performance of its portfolio against the other High Yield Loans Index banks.
12GF Score
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