MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Sloan Ratio % : 0.00% (As of Nov. 2023)

View and export this data going back to 2012. Start your Free Trial

What is MainStay MacKay DefinedTerm Municipal Opportunities Fund 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.

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Sloan Ratio for the quarter that ended in Nov. 2023 was 0.00%.

As of Nov. 2023, MainStay MacKay DefinedTerm Municipal Opportunities Fund has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Sloan Ratio % Historical Data

The historical data trend for MainStay MacKay DefinedTerm Municipal Opportunities Fund'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.

* Premium members only.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Sloan Ratio % Chart

MainStay MacKay DefinedTerm Municipal Opportunities Fund Annual Data

Trend

May18

May19

May20

May21

May22

May23

Sloan Ratio %

Get a 7-Day Free Trial

MainStay MacKay DefinedTerm Municipal Opportunities Fund Semi-Annual Data
	Nov17	May18	Nov18	May19	Nov19	May20	Nov20	May21	Nov21	May22	Nov22	May23	Nov23
Sloan Ratio %	Get a 7-Day Free Trial								-	-	-	-	-

Competitive Comparison of MainStay MacKay DefinedTerm Municipal Opportunities Fund's Sloan Ratio %

For the Asset Management subindustry, MainStay MacKay DefinedTerm Municipal Opportunities Fund'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.

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Sloan Ratio % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, MainStay MacKay DefinedTerm Municipal Opportunities Fund's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where MainStay MacKay DefinedTerm Municipal Opportunities Fund's Sloan Ratio % falls into.

MainStay MacKay DefinedTerm Municipal Opportunities Fund 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.

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Sloan Ratio for the fiscal year that ended in May. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: May. 2023 )	-	Cash Flow from Operations (A: May. 2023 )
	-	Cash Flow from Investing (A: May. 2023 ))	/	Total Assets (A: May. 2023 )
	=	(-8.363	-	96.276
	-	0)	/	740.022
	=	-14.14%

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Sloan Ratio for the quarter that ended in Nov. 2023 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Nov. 2023 )
	=	(19.49	-	141.415
	-	0)	/	661.544
	=	-18.43%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. MainStay MacKay DefinedTerm Municipal Opportunities Fund's Net Income for the trailing twelve months (TTM) ended in Nov. 2023 was 14.464 (May. 2023 ) + 5.026 (Nov. 2023 ) = $19.49 Mil.
MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash Flow from Operations for the trailing twelve months (TTM) ended in Nov. 2023 was 59.542 (May. 2023 ) + 81.873 (Nov. 2023 ) = $141.42 Mil.
MainStay MacKay DefinedTerm Municipal Opportunities Fund's Cash Flow from Investing for the trailing twelve months (TTM) ended in Nov. 2023 was 0 (May. 2023 ) + 0 (Nov. 2023 ) = $0.00 Mil.

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) 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 Nov. 2023, MainStay MacKay DefinedTerm Municipal Opportunities Fund has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Sloan Ratio % Related Terms

Thank you for viewing the detailed overview of MainStay MacKay DefinedTerm Municipal Opportunities Fund's Sloan Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.

MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) » Definitions » Sloan Ratio %

Comparable Companies

Traded in Other Exchanges

N/A

Address

51 Madison Avenue, New York, NY, USA, 10010

Website

https://www.nylinvestments.com

MainStay MacKay DefinedTerm Municipal Opportunities Fund is a USA-based diversified closed-end management investment company. The fund's investment objective is to seek current income exempt from regular U.S. Federal income taxes as well as total return. The company may also invest in TOB (Tender Option Bonds) Floaters and TOB Residuals issued by the TOB Issuer. It evaluates its performance against Barclays Municipal Bond Index.

Executives

Michael Denlinger	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Naim Abou-jaoude	other: CEO, NY LIFE INVEST MGMENT LLC	200 ALDERSGATE STREET, C/O CANDRIAM, NORTH ENTRANCE, LONDON X0 EC1A4HD
Michael Petty	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Alain M Karaoglan	other: Chairman & Interim CEO	230 PARK AVENUE, NEW YORK NY 10169
Kevin M Gleason	officer: Chief Compliance Officer	30 HUDSON STREET, JERSEY CITY NJ 07302
Robert A Dimella	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Scott Sprauer	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Karen Hammond	other: Advisory Board Member	1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK MN 55416
Yie-hsin Hung	other: Executive Vice President	30 HUDSON STREET, JERSEY CITY NJ 07302
Jeffrey S Phlegar	other: CEO of Subadvisor
Yi-chia Kuo	officer: Chief Compliance Officer	30 HUDSON STREET, JERSEY CITY NJ 07302
Nolan Richard H Jr	director	51 MADISON AVENUE, NEW YORK NY 10010
John J Lawlor	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Kirk C Lehneis	officer: President	51 MADISON AVENUE, NEW YORK NY 10010
Stephen P. Fisher	officer: President	169 LACKAWANNA AVENUE, PARSIPPANY NJ 07054