Pioneer Floating Rate Trust (PHD) - Net Assets
Based on the latest financial reports, Pioneer Floating Rate Trust (PHD) has net assets worth $124.13 Million USD as of May 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($190.96 Million) and total liabilities ($66.83 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 Pioneer Floating Rate Trust asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $124.13 Million |
| % of Total Assets | 65.0% |
| Annual Growth Rate | -9.1% |
| 5-Year Change | -53.71% |
| 10-Year Change | -57.99% |
| Growth Volatility | 17.95 |
Pioneer Floating Rate Trust - Net Assets Trend (2006–2024)
This chart illustrates how Pioneer Floating Rate Trust's net assets have evolved over time, based on quarterly financial data. Also explore Pioneer Floating Rate Trust total assets for the complete picture of this company's asset base.
Annual Net Assets for Pioneer Floating Rate Trust (2006–2024)
The table below shows the annual net assets of Pioneer Floating Rate Trust from 2006 to 2024. For live valuation and market cap data, see PHD stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-11-30 | $127.87 Million | +2.41% |
| 2023-11-30 | $124.86 Million | +2.03% |
| 2022-11-30 | $122.37 Million | -14.56% |
| 2021-11-30 | $143.23 Million | -48.15% |
| 2020-11-30 | $276.23 Million | -5.64% |
| 2019-11-30 | $292.73 Million | -1.74% |
| 2018-11-30 | $297.90 Million | -3.02% |
| 2017-11-30 | $307.20 Million | -0.68% |
| 2016-11-30 | $309.31 Million | +1.63% |
| 2015-11-30 | $304.36 Million | -4.06% |
| 2014-11-30 | $317.24 Million | -37.26% |
| 2013-11-30 | $505.60 Million | +0.08% |
| 2012-11-30 | $505.18 Million | +21.69% |
| 2008-11-30 | $415.15 Million | -38.59% |
| 2007-11-30 | $676.07 Million | -5.16% |
| 2006-11-30 | $712.88 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Pioneer Floating Rate Trust'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 562.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (November 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $207.77 Million | 162.49% |
| Total Equity | $127.87 Million | 100.00% |
Pioneer Floating Rate Trust Competitors by Market Cap
The table below lists competitors of Pioneer Floating Rate Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tomer Energy Royalties 2012 Ltd
TA:TOEN
|
$119.20 Million |
|
Jindal Photo Limited
NSE:JINDALPHOT
|
$123.17 Million |
|
Mincon Group plc
IR:MIO
|
$123.23 Million |
|
Kirana Megatara Tbk PT
JK:KMTR
|
$123.24 Million |
|
Siam Wellness Group Public Company Limited
BK:SPA
|
$123.12 Million |
|
Aurskog Sparebank
OL:AURG
|
$123.04 Million |
|
Daedong Gear Co. Ltd
KQ:008830
|
$123.03 Million |
|
Cemtas Celik Makina Sanayi ve Ticaret AS
IS:CEMTS
|
$122.96 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Pioneer Floating Rate Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 124,861,046 to 127,865,011, a change of 3,003,965 (2.4%).
- Net income of 16,647,329 contributed positively to equity growth.
- Dividend payments of 12,591,495 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $16.65 Million | +13.02% |
| Dividends Paid | $12.59 Million | -9.85% |
| Other Changes | $-1.05 Million | -0.82% |
| Total Change | $- | 2.41% |
Book Value vs Market Value Analysis
This analysis compares Pioneer Floating Rate Trust'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: 0.97x
- 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 0.49x to 0.97x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-11-30 | $20.45 | $9.95 | x |
| 2013-11-30 | $20.44 | $9.95 | x |
| 2014-11-30 | $12.82 | $9.95 | x |
| 2015-11-30 | $12.30 | $9.95 | x |
| 2016-11-30 | $12.50 | $9.95 | x |
| 2017-11-30 | $12.56 | $9.95 | x |
| 2018-11-30 | $12.04 | $9.95 | x |
| 2019-11-30 | $11.93 | $9.95 | x |
| 2020-11-30 | $11.81 | $9.95 | x |
| 2021-11-30 | $10.21 | $9.95 | x |
| 2022-11-30 | $9.89 | $9.95 | x |
| 2023-11-30 | $10.06 | $9.95 | x |
| 2024-11-30 | $10.30 | $9.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Pioneer Floating Rate Trust 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): 13.02%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 96.50%
- • Asset Turnover: 0.09x
- • Equity Multiplier: 1.56x
- Recent ROE (13.02%) is above the historical average (2.21%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 9.24% | 91.06% | 0.09x | 1.08x | $-5.39 Million |
| 2007 | 3.01% | 27.96% | 0.10x | 1.03x | $-47.24 Million |
| 2008 | -41.19% | -330.27% | 0.12x | 1.03x | $-212.49 Million |
| 2012 | 7.94% | 117.15% | 0.07x | 1.03x | $-10.40 Million |
| 2013 | 4.40% | 74.41% | 0.06x | 1.01x | $-28.33 Million |
| 2014 | 4.40% | 57.61% | 0.05x | 1.56x | $-17.75 Million |
| 2015 | 1.42% | 17.59% | 0.05x | 1.54x | $-26.12 Million |
| 2016 | 7.36% | 90.69% | 0.05x | 1.56x | $-8.17 Million |
| 2017 | 5.17% | 105.56% | 0.03x | 1.52x | $-14.82 Million |
| 2018 | 2.86% | 94.09% | 0.02x | 1.51x | $-21.27 Million |
| 2019 | 4.44% | 94.31% | 0.03x | 1.58x | $-16.26 Million |
| 2020 | 0.68% | 44.34% | 0.01x | 1.41x | $-25.75 Million |
| 2021 | 9.50% | 94.89% | 0.06x | 1.55x | $-721.19K |
| 2022 | -9.52% | 0.00% | -0.06x | 1.51x | $-23.89 Million |
| 2023 | 12.62% | 97.24% | 0.09x | 1.53x | $3.28 Million |
| 2024 | 13.02% | 96.50% | 0.09x | 1.56x | $3.86 Million |
Industry Comparison
This section compares Pioneer Floating Rate Trust's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $917,452,001
- Average return on equity (ROE) among peers: 31.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Pioneer Floating Rate Trust (PHD) | $124.13 Million | 9.24% | 0.54x | $123.13 Million |
| Acadian Asset Management Inc (AAMI) | $170.50 Million | 74.13% | 6.59x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.22 Billion | 13.03% | 0.01x | $3.60 Billion |
| Associated Capital Group Inc (AC) | $878.25 Million | 1.16% | 0.08x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $160.40 Million | 149.15% | 0.14x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $-40.08K | 0.00% | 0.00x | $194.14 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $970.20 Million | -10.62% | 0.29x | $368.87 Million |
| Affiliated Managers Group Inc (AMG) | $655.56 Million | 9.23% | 1.32x | $8.19 Billion |
| Ameriprise Financial Inc (AMP) | $5.59 Billion | 37.54% | 23.56x | $41.87 Billion |
| AMTD IDEA Group (AMTD) | $-578.49 Million | 0.00% | 0.00x | $44.19 Million |
| Artisan Partners Asset Management Inc (APAM) | $108.10 Million | 45.88% | 6.74x | $2.65 Billion |
About Pioneer Floating Rate Trust
Pioneer Floating Rate Fund, Inc. is closed ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc. It invests in the fixed income markets of the United States. The fund primarily invests in senior secured floating-rate loans. It benchmarks the performance of its portfolio against the Barclays U.S. High Yield Loans Index. Pioneer Floating Rate Fund, Inc. was form… Read more