NPFD

Nuveen Variable Rate

Fundamental data last updated:April 13, 2026

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company profile

SECTOR

Financial Services

industry

Asset Management

Exchange

NYSE

County of HQ

United States

Next Earnings Date

Business Summary

NPFD operates as an asset management vehicle within Financial Services, generating cash primarily through management fees and income derived from a portfolio of variable rate instruments. The model depends on disciplined credit selection, spread capture, and maintaining asset levels that support fee generation. Its moat is rooted in credit expertise, distribution relationships, and the operational infrastructure required to manage variable rate exposure efficiently. Cash flow durability comes from recurring fee structures and portfolio income, provided credit quality and rate environments remain supportive.

 


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VALUATION

P/E

8.9

Market Cap ($M USD)

$462

Forward P/E

-

PEG

-

PRICE TO SALES

8.7

PRICE TO BOOK

0.9

EV / EBITDA

-

5-Year Average P/E

Free Cash Flow Yield

DCF Value

Graham Number

Price to FCF

EV to FCF

Earnings Yield

FCF Yield

DIVIDEND

Yield

10.30%

Annual Payout

$1.88

Payout Ratio

92.00%

Consecutive Years of Dividend Growth

2

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

$2.15

Next Year EPS Growth Estimate

-

Next Year Revenue Growth Estimate

-

Return on Equity (ROE)

10.70%

FREE CASH FLOW

Operating Margin

-

Debt-to-Equity

0.4

Piotroski F-Score

6

Altman Z-Score

-

Return on Invested Capital (ROIC)

9.70%

Current Ratio

-

Quick Ratio

Net Debt to EBITDA

Interest Coverage

Gross Profit margin

FCF PER SHARE

REVENUE PER SHARE

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Gainseekers Quantitative Analysis

Summary

At 8.9x earnings and 0.9x book, NPFD screens as statistically cheap, particularly for a Financial Services name generating a 10.70% operating margin and 9.70% ROIC. The absence of a Forward P/E, PEG, EPS, and Altman Z-Score makes growth visibility and balance sheet safety harder to handicap, which likely contributes to the discounted multiple. A Piotroski F-Score of 6 signals fundamentally stable—though not pristine—financial health. This is not a high-growth story; it is a valuation compression story where the market appears to be pricing in stagnation rather than distress, leaving room for multiple normalization if fundamentals remain intact.

AI Exposure / Tech Reliance

As an Asset Management vehicle, NPFD’s exposure to AI is indirect but meaningful through portfolio allocation decisions rather than operating leverage. The firm’s resilience to technological disruption depends on its ability to integrate data-driven credit analytics and risk systems into fund management. In this sector, technology is an efficiency and performance enhancer, not a core existential threat.

The Bull Case

A value or GARP investor buys NPFD for the disconnect between a single-digit P/E of 8.9 and a 9.70% ROIC, which suggests the business is earning close to double-digit returns while trading below book value at 0.9x. The 10.70% operating margin demonstrates that the platform is economically viable, not merely asset-gathering for scale without profitability. A Piotroski F-Score of 6 reinforces that the fundamentals are stable enough to avoid distress classification. Layer on a TTM Yield of 0.4 and a Dividend Per Share of 10.30% with a Payout Ratio of $1.88, and you have a capital return profile that, if sustainable, enhances total return while investors wait for sentiment to improve.

The Bear Case

The bear case rests on opacity and growth uncertainty: there is no Forward P/E, no PEG ratio, no EPS figure, no Sales Growth Next Year estimate, and no Debt/Equity data provided, which makes forward underwriting speculative. Without Return on Equity or Altman Z-Score data, assessing capital efficiency and balance sheet resilience is incomplete. A Price/Sales ratio of 8.7 is elevated relative to the 8.9 P/E, implying revenue is modest relative to earnings and potentially sensitive to margin compression. Combined with missing consensus data and institutional ownership figures, the stock lacks clear external validation, increasing the probability that the low multiple reflects structural stagnation rather than mispricing.

Market Sentiment & Smart Money

Short Interest %

-

Analyst Consensus

-

Average Analyst Price Target

-

Institutional Ownership %

-

1-Year Beta

0.29

Insider Buying % (6 Mo)

-%

Distance to 52-Week High

95.10%

Distance to 52-Week Low

109.10%

EARNINGS SURPRISE %

50-DAY SMA

200-DAY SMA

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.