NCZ (Virtus Convertible &ome Fund II) Sloan Ratio % : 0.00% (As of Jul. 2024)

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What is Virtus Convertible &ome Fund II Sloan Ratio %?

Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.

Virtus Convertible &ome Fund II's Sloan Ratio for the quarter that ended in Jul. 2024 was 0.00%.

As of Jul. 2024, Virtus Convertible &ome Fund II has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.

Virtus Convertible &ome Fund II Sloan Ratio % Historical Data

The historical data trend for Virtus Convertible &ome Fund II's Sloan Ratio % can be seen below:

* 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.

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Virtus Convertible &ome Fund II Sloan Ratio % Chart

Virtus Convertible &ome Fund II Annual Data

Trend

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Jan24

Sloan Ratio %

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Virtus Convertible &ome Fund II Semi-Annual Data
	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Jul22	Jan23	Jul23	Jan24	Jul24
Sloan Ratio %	Get a 7-Day Free Trial									-	-	-	-	-

Competitive Comparison of Virtus Convertible &ome Fund II's Sloan Ratio %

For the Asset Management subindustry, Virtus Convertible &ome Fund II's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % 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.

Virtus Convertible &ome Fund II's Sloan Ratio % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Virtus Convertible &ome Fund II's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Virtus Convertible &ome Fund II's Sloan Ratio % falls into.

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Virtus Convertible &ome Fund II Sloan Ratio % Calculation

Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.

Virtus Convertible &ome Fund II's Sloan Ratio for the fiscal year that ended in Jan. 2024 is calculated as

Sloan Ratio	=	(Net Income (A: Jan. 2024 )	-	Cash Flow from Operations (A: Jan. 2024 )
	-	Cash Flow from Investing (A: Jan. 2024 ))	/	Total Assets (A: Jan. 2024 )
	=	(7.385	-	90.072
	-	0)	/	422.137
	=	-19.59%

Virtus Convertible &ome Fund II's Sloan Ratio for the quarter that ended in Jul. 2024 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Jul. 2024 )
	=	(15.932	-	18.506
	-	0)	/	421.611
	=	-0.61%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. Virtus Convertible &ome Fund II's Net Income for the trailing twelve months (TTM) ended in Jul. 2024 was -3.495 (Jan. 2024 ) + 19.427 (Jul. 2024 ) = $15.93 Mil.
Virtus Convertible &ome Fund II's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jul. 2024 was 7.11 (Jan. 2024 ) + 11.396 (Jul. 2024 ) = $18.51 Mil.
Virtus Convertible &ome Fund II's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jul. 2024 was 0 (Jan. 2024 ) + 0 (Jul. 2024 ) = $0.00 Mil.

Virtus Convertible &ome Fund II (NYSE:NCZ) Sloan Ratio % Explanation

A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.

According to How to Beat the Market with the Sloan Ratio:

If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.

If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.

If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.

As of Jul. 2024, Virtus Convertible &ome Fund II has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.

Virtus Convertible &ome Fund II Sloan Ratio % Related Terms

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Virtus Convertible &ome Fund II Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Virtus Convertible & Income Fund II (NYSE:NCZ) » Definitions » Sloan Ratio %

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Traded in Other Exchanges

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Address

101 Munson Street, Greenfield, MA, USA, 01301-9683

Website

https://www.virtus.com

Virtus Convertible & Income Fund II is a diversified, closed-end management investment company. Its investment objective is to provide total return through a combination of capital appreciation and high current income. Its portfolio of investments includes different sector investments such as in healthcare services, media, oil, gas and consumable fuels and others.

Executives

Metlife Investment Management, Llc	10 percent owner	ONE METLIFE WAY, WHIPPANY NJ 07981
Mcdaniel Connie D	director	C/O VIRTUS INVESTMENT PARTNERS, INC., ONE FINANCIAL PLAZA, 26TH FL., HARTFORD CT 06103
Geraldine M Mcnamara	director	150 EAST 44TH ST, APT 35G, NEW YORK NY 10017
R Keith Walton	director	100 PEARL STREET, HARTFORD CT 06103
Christine Hurtsellers	other: CEO - Subadviser to the issuer	230 PARK AVENUE, NEW YORK NY 10169
Vincent J Costa	other: CIO-Subadviser to the issuer	800 SCUDDERS MILL ROAD, PLAINSBORO NJ 08536
Paul Zemsky	other: CIO-Subadviser to the issuer	230 PARK AVENUE, NEW YORK NY 10169
Voya Investment Management Co	other: Subadviser to the issuer	10 STATE HOUSE SQUARE, SH12, HARTFORD CT 06103-3602
Brian T Zino	director	100 PARK AVENUE, NEW YORK NY 10017
Deborah A Decotis	director	1633 BROADWAY, NEW YORK NY 10019
Michael Yee	officer: Portfolio Manager	C/O ALLIANZ EQUITY ADVISORS, 1345 AVE OF THE AMERICAS, NEW YORK NY 10105
David J. Oberto	officer: Portfolio Manager	1633 BROADWAY, NEW YORK NY 10019
George R Aylward	director, officer: President and CEO	C/O VIRTUS INVESTMENT PARTNERS, INC., 100 PEARL STREET, HARTFORD CT 06103
James S Macleod	director	250 E KILBOURN AVE, MILWAUKEE WI 53202
Richard W Smirl	officer: EVP	C/O VIRTUS INVESTMENT PARTNERS, INC., ONE FINANCIAL PLAZA, HARTFORD CT 06103