NYSE:DTF

Stock Analysis Report

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Executive Summary

DTF Tax-Free Income Inc. is a closed-ended fixed income mutual fund launched by Virtus Investment Partners, Inc. More Details


Snowflake Analysis

Share Price & News

How has DTF Tax-Free Income's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DTF is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: DTF's weekly volatility (1%) has been stable over the past year.


Market Performance


7 Day Return

-2.1%

DTF

0.2%

US Capital Markets

-1.4%

US Market


1 Year Return

-6.4%

DTF

33.4%

US Capital Markets

37.1%

US Market

Return vs Industry: DTF underperformed the US Capital Markets industry which returned 33.4% over the past year.

Return vs Market: DTF underperformed the US Market which returned 37.1% over the past year.


Shareholder returns

DTFIndustryMarket
7 Day-2.1%0.2%-1.4%
30 Day-0.8%7.6%1.6%
90 Day-4.6%18.4%7.3%
1 Year-3.2%-6.4%36.8%33.4%40.2%37.1%
3 Year20.2%7.1%41.4%30.9%62.5%52.1%
5 Year15.4%-7.2%152.2%120.9%133.9%108.0%

Long-Term Price Volatility Vs. Market

How volatile is DTF Tax-Free Income's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is DTF Tax-Free Income undervalued compared to its fair value and its price relative to the market?

27.37x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate DTF's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate DTF's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: DTF is poor value based on its PE Ratio (27.4x) compared to the US Capital Markets industry average (23.4x).

PE vs Market: DTF is poor value based on its PE Ratio (27.4x) compared to the US market (21.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate DTF's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: DTF is good value based on its PB Ratio (0.9x) compared to the US Capital Markets industry average (10.7x).

Future Growth

How is DTF Tax-Free Income forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

13.4%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as DTF Tax-Free Income has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has DTF Tax-Free Income performed over the past 5 years?

1.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DTF has high quality earnings.

Growing Profit Margin: DTF's current net profit margins (64.8%) are lower than last year .


Past Earnings Growth Analysis

Earnings Trend: DTF's earnings have grown by 1.5% per year over the past 5 years.

Accelerating Growth: DTF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: DTF had negative earnings growth (-68.9%) over the past year, making it difficult to compare to the Capital Markets industry average (8%).


Return on Equity

High ROE: DTF's Return on Equity (3.3%) is considered low.

Financial Health

How is DTF Tax-Free Income's financial position?


Financial Position Analysis

Short Term Liabilities: DTF's short term assets ($4.2M) exceed its short term liabilities ($1.6M).

Long Term Liabilities: DTF's short term assets ($4.2M) do not cover its long term liabilities ($65.0M).


Debt to Equity History and Analysis

Debt Level: DTF's debt to equity ratio (48.3%) is considered high.

Reducing Debt: DTF's debt to equity ratio has increased from 46.6% to 48.3% over the past 5 years.

Debt Coverage: DTF's debt is not well covered by operating cash flow (7.2%).

Interest Coverage: DTF's interest payments on its debt are well covered by EBIT (3.6x coverage).


Balance Sheet

Dividend

What is DTF Tax-Free Income current dividend yield, its reliability and sustainability?

3.37%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: DTF's dividend (3.37%) is higher than the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: DTF's dividend (3.37%) is low compared to the top 25% of dividend payers in the US market (3.7%).


Stability and Growth of Payments

Stable Dividend: DTF's dividend payments have been volatile in the past 10 years.

Growing Dividend: DTF's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (92.2%), DTF's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

12.8yrs

Average board tenure


CEO

DTF Tax-Free Income has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
David Vitale
Chairman11.75yrsUS$17.57kno data
Christian Poindexter
Independent Director12.75yrsUS$10.99kno data
Philip McLoughlin
Independent Director24.58yrsUS$9.92k0.025%
$ 24.7k
Carl Pollard
Independent Director14.75yrsUS$11.18kno data
Robert Genetski
Independent Director11.75yrsUS$9.91k0.0021%
$ 2.1k
Eileen Moran
Independent Director24.5yrsUS$11.18k0.065%
$ 65.6k
Donald Burke
Independent Director6.58yrsno data0.014%
$ 14.3k
Stewart Conner
Independent Director11.75yrsUS$9.93kno data
Geraldine McNamara
Independent Director17.75yrsUS$9.93k0.049%
$ 48.9k

12.8yrs

Average Tenure

74yo

Average Age

Experienced Board: DTF's board of directors are seasoned and experienced ( 12.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

DTF Tax-Free Income Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: DTF Tax-Free Income Inc.
  • Ticker: DTF
  • Exchange: NYSE
  • Founded: 1991
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$100.171m
  • Shares outstanding: 7.03m
  • Website: https://www.dtffund.com

Location

  • DTF Tax-Free Income Inc.
  • 200 South Wacker Drive
  • Suite 500
  • Chicago
  • Illinois
  • 60606
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
DTFNYSE (New York Stock Exchange)YesCommon StockUSUSDNov 1991

Biography

DTF Tax-Free Income Inc. is a closed-ended fixed income mutual fund launched by Virtus Investment Partners, Inc. The fund is managed by Duff & Phelps Investment Management Co. It invests primarily in a div...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/25 00:27
End of Day Share Price2021/02/24 00:00
Earnings2020/10/31
Annual Earnings2020/10/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.