Delaware Investments Florida MIF (VFL) - Net Assets
Based on the latest financial reports, Delaware Investments Florida MIF (VFL) has net assets worth $138.85 Million USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($239.33 Million) and total liabilities ($100.49 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Delaware Investments Florida MIF liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $138.85 Million |
| % of Total Assets | 58.01% |
| Annual Growth Rate | 6.85% |
| 5-Year Change | -51.23% |
| 10-Year Change | 114.3% |
| Growth Volatility | 85.56 |
Delaware Investments Florida MIF - Net Assets Trend (2005–2025)
This chart illustrates how Delaware Investments Florida MIF's net assets have evolved over time, based on quarterly financial data. Also explore Delaware Investments Florida MIF total assets for the complete picture of this company's asset base.
Annual Net Assets for Delaware Investments Florida MIF (2005–2025)
The table below shows the annual net assets of Delaware Investments Florida MIF from 2005 to 2025. For live valuation and market cap data, see Delaware Investments Florida MIF market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $138.85 Million | -8.26% |
| 2024-09-30 | $151.34 Million | +20.10% |
| 2023-09-30 | $126.01 Million | -12.92% |
| 2022-09-30 | $144.70 Million | -49.18% |
| 2021-09-30 | $284.71 Million | +323.78% |
| 2020-09-30 | $67.18 Million | +8.21% |
| 2019-09-30 | $62.08 Million | -5.07% |
| 2018-09-30 | $65.40 Million | +0.73% |
| 2017-09-30 | $64.92 Million | +0.20% |
| 2016-09-30 | $64.79 Million | -4.73% |
| 2015-09-30 | $68.01 Million | -30.53% |
| 2014-09-30 | $97.89 Million | +56.57% |
| 2013-09-30 | $62.53 Million | -7.88% |
| 2012-09-30 | $67.88 Million | +6.91% |
| 2011-09-30 | $63.49 Million | +119.17% |
| 2008-09-30 | $28.97 Million | -21.52% |
| 2005-09-30 | $36.91 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Delaware Investments Florida MIF's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 1260.1% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $179.99 Million | 129.63% |
| Total Equity | $138.85 Million | 100.00% |
Delaware Investments Florida MIF Competitors by Market Cap
The table below lists competitors of Delaware Investments Florida MIF ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanghai Haixin Group Co Ltd B
SHG:900917
|
$123.31 Million |
|
Macauto Industrial Co Ltd
TWO:9951
|
$123.33 Million |
|
Indomobil Multi Jasa Tbk
JK:IMJS
|
$123.33 Million |
|
Gabelli Global Small and Mid Cap Value Closed Fund
NYSE:GGZ
|
$123.33 Million |
|
Atturra Ltd
AU:ATA
|
$123.25 Million |
|
Kirana Megatara Tbk PT
JK:KMTR
|
$123.24 Million |
|
Mincon Group plc
IR:MIO
|
$123.23 Million |
|
Pioneer Floating Rate Trust
NYSE:PHD
|
$123.13 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Delaware Investments Florida MIF's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 151,342,257 to 138,847,371, a change of -12,494,886 (-8.3%).
- Net loss of 5,128,084 reduced equity.
- Dividend payments of 7,366,802 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-5.13 Million | -3.69% |
| Dividends Paid | $7.37 Million | -5.31% |
| Total Change | $- | -8.26% |
Book Value vs Market Value Analysis
This analysis compares Delaware Investments Florida MIF's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.89x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.72x to 0.89x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-09-30 | $14.02 | $10.04 | x |
| 2012-09-30 | $15.00 | $10.04 | x |
| 2013-09-30 | $13.77 | $10.04 | x |
| 2014-09-30 | $14.93 | $10.04 | x |
| 2015-09-30 | $15.11 | $10.04 | x |
| 2016-09-30 | $14.27 | $10.04 | x |
| 2017-09-30 | $14.36 | $10.04 | x |
| 2018-09-30 | $14.34 | $10.04 | x |
| 2019-09-30 | $11.46 | $10.04 | x |
| 2020-09-30 | $14.88 | $10.04 | x |
| 2021-09-30 | $33.88 | $10.04 | x |
| 2022-09-30 | $11.79 | $10.04 | x |
| 2023-09-30 | $10.26 | $10.04 | x |
| 2024-09-30 | $12.33 | $10.04 | x |
| 2025-09-30 | $11.31 | $10.04 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Delaware Investments Florida MIF utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -3.69%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: -0.00x
- • Equity Multiplier: 1.72x
- Recent ROE (-3.69%) is below the historical average (1.45%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 3.34% | 59.16% | 0.03x | 1.62x | $-2.46 Million |
| 2008 | -5.57% | -79.70% | 0.07x | 1.02x | $-4.51 Million |
| 2011 | 12.24% | 95.79% | 0.08x | 1.59x | $1.42 Million |
| 2012 | 11.13% | 96.70% | 0.08x | 1.46x | $769.97K |
| 2013 | -3.41% | 0.00% | -0.02x | 1.50x | $-8.39 Million |
| 2014 | 12.93% | 96.73% | 0.09x | 1.44x | $1.98 Million |
| 2015 | 5.36% | 90.85% | 0.04x | 1.45x | $-3.16 Million |
| 2016 | -0.21% | -124.86% | 0.00x | 1.47x | $-6.62 Million |
| 2017 | 4.39% | 91.44% | 0.03x | 1.47x | $-3.64 Million |
| 2018 | 4.88% | 91.51% | 0.04x | 1.50x | $-3.35 Million |
| 2019 | -0.26% | -83.45% | 0.00x | 1.50x | $-6.37 Million |
| 2020 | 11.42% | 96.40% | 0.08x | 1.45x | $956.26K |
| 2021 | -4.86% | 0.00% | -0.03x | 1.59x | $-42.30 Million |
| 2022 | -18.34% | 0.00% | -0.08x | 1.75x | $-41.01 Million |
| 2023 | -25.38% | -1385.35% | 0.01x | 1.79x | $-44.58 Million |
| 2024 | 20.67% | 85.84% | 0.14x | 1.67x | $16.15 Million |
| 2025 | -3.69% | 0.00% | 0.00x | 1.72x | $-19.01 Million |
Industry Comparison
This section compares Delaware Investments Florida MIF's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $896,093,866
- Average return on equity (ROE) among peers: -12.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Delaware Investments Florida MIF (VFL) | $138.85 Million | 3.34% | 0.72x | $123.27 Million |
| Acadian Asset Management Inc (AAMI) | $-21.60 Million | 0.00% | 0.00x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.79 Billion | 7.51% | 0.00x | $3.59 Billion |
| Associated Capital Group Inc (AC) | $878.25 Million | 1.16% | 0.08x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $304.00 Million | 32.66% | 0.17x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $1.40 Million | -229.54% | 1.40x | $194.14 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $83.45 Million | -7.38% | 0.39x | $359.65 Million |
| Affiliated Managers Group Inc (AMG) | $1.30 Billion | -0.10% | 1.49x | $8.37 Billion |
| Ameriprise Financial Inc (AMP) | $4.73 Billion | 54.05% | 36.05x | $41.87 Billion |
| AMTD IDEA Group (AMTD) | $632.43 Million | 16.58% | 4.38x | $42.91 Million |
| Artisan Partners Asset Management Inc (APAM) | $-736.58 Million | 0.00% | 0.00x | $2.60 Billion |
About Delaware Investments Florida MIF
abrdn National Municipal Income Fund is a closed-ended fixed income mutual fund launched and managed by abrdn Inc. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal obligations, the income from which is exempt from federal income taxes. Its investments include airport revenue bonds, escrowed to maturity bonds, hospital revenue bo… Read more