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Nuveen Municipal Creditome Fund Asset Turnover

: 0.06 (As of Oct. 2020)
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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Nuveen Municipal Creditome Fund's Revenue for the six months ended in Oct. 2020 was $226.22 Mil. Nuveen Municipal Creditome Fund's Total Assets for the quarter that ended in Oct. 2020 was $3,578.02 Mil. Therefore, Nuveen Municipal Creditome Fund's Asset Turnover for the quarter that ended in Oct. 2020 was 0.06.

Asset Turnover is linked to ROE % through Du Pont Formula. Nuveen Municipal Creditome Fund's annualized ROE % for the quarter that ended in Oct. 2020 was 20.66%. It is also linked to ROA % through Du Pont Formula. Nuveen Municipal Creditome Fund's annualized ROA % for the quarter that ended in Oct. 2020 was 12.60%.


Nuveen Municipal Creditome Fund Asset Turnover Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

* Premium members only.

Nuveen Municipal Creditome Fund Annual Data
Oct11 Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 Oct20
Asset Turnover Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.04 0.02 -0.01 0.09 0.00

Nuveen Municipal Creditome Fund Semi-Annual Data
Apr11 Oct11 Apr12 Oct12 Apr13 Oct13 Apr14 Oct14 Apr15 Oct15 Apr16 Oct16 Apr17 Oct17 Apr18 Oct18 Apr19 Oct19 Apr20 Oct20
Asset Turnover Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.05 0.04 -0.06 0.06

Nuveen Municipal Creditome Fund Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Nuveen Municipal Creditome Fund's Asset Turnover for the fiscal year that ended in Oct. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Oct. 2020 )/( (Total Assets (A: Oct. 2019 )+Total Assets (A: Oct. 2020 ))/ count )
=13.085/( (3765.258+3667.724)/ 2 )
=13.085/3716.491
=0.00

Nuveen Municipal Creditome Fund's Asset Turnover for the quarter that ended in Oct. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Oct. 2020 )/( (Total Assets (Q: Apr. 2020 )+Total Assets (Q: Oct. 2020 ))/ count )
=226.221/( (3488.32+3667.724)/ 2 )
=226.221/3578.022
=0.06

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.


Nuveen Municipal Creditome Fund  (NYSE:NZF) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Nuveen Municipal Creditome Fund's annulized ROE % for the quarter that ended in Oct. 2020 is

ROE %**(Q: Oct. 2020 )
=Net Income/Total Stockholders Equity
=450.796/2182.1635
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(450.796 / 452.442)*(452.442 / 3578.022)*(3578.022/ 2182.1635)
=Net Margin %*Asset Turnover*Equity Multiplier
=99.64 %*0.1265*1.6397
=ROA %*Equity Multiplier
=12.60 %*1.6397
=20.66 %

Note: The Net Income data used here is two times the semi-annual (Oct. 2020) net income data. The Revenue data used here is two times the semi-annual (Oct. 2020) revenue data.

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Nuveen Municipal Creditome Fund's annulized ROA % for the quarter that ended in Oct. 2020 is

ROA %(Q: Oct. 2020 )
=Net Income/Total Assets
=450.796/3578.022
=(Net Income / Revenue)*(Revenue / Total Assets)
=(450.796 / 452.442)*(452.442 / 3578.022)
=Net Margin %*Asset Turnover
=99.64 %*0.1265
=12.60 %

Note: The Net Income data used here is two times the semi-annual (Oct. 2020) net income data. The Revenue data used here is two times the semi-annual (Oct. 2020) revenue data.

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.


Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.


Nuveen Municipal Creditome Fund Asset Turnover Related Terms


Nuveen Municipal Creditome Fund Asset Turnover Headlines

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