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General information

Country: UNITED STATES

Sector: Asset Management

Eaton Vance Tax-Managed Buy-Write Opportunities Fund is a United States-based diversified, closed-end management investment company. The Fund`s investment objective is to provide income and gains, with a secondary objective of capital appreciation. It invests in a portfolio of common stocks and writes call options on one or more United States indices on a substantial portion of the value of its common stock portfolio to generate earnings from the option. It evaluates returns on an after tax basis and seeks to minimize and defer federal income taxes incurred by shareholders in connection with their investment in the Fund. Its portfolio of investments include hotels, restaurants and leisure; life sciences tools and services; software; technology hardware, storage and peripherals; technology hardware, storage and peripherals, and personal products, among others. Its investment advisor is Eaton Vance Management and its sub-advisor is Parametric Portfolio Associates LLC.
Website: funds.eatonvance.comTax-Managed-Buy-Write-Opportunities-Fund-ETV.php



Growth: Good revenue growth rate 11.6%, there is acceleration compared to average historical growth rates 8.5%. The revenue growth dynamics is moderately stable

Profitability: LTM net profit margin is positive, +24.6%. On average the margin is improving unsteadily. Gross margin is high, +100.0%.

Cash Flow Generation: Dividend yield for the last twelve months 7.5%.

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 14.2% higher than minimum and 24.7% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, Net Income margin, industries and geography on average are valued 3.2x by P / Sales multiple , the company can be >100% undervalued

Key Financials (Download financials)

Ticker: ETV
Share price, USD:  (+0.4%)12.67
year average price 12.53  


year start price 12.06 2023-05-03

max close price 13.35 2023-07-19

min close price 11.09 2023-10-27

current price 12.67 2024-05-01
Common stocks: 98 182 304

Dividend Yield:  7.5%
P / E LTM: 2.9x
P / E annualized: 2.8x
Last revenue growth (y/y):  11.6%
Last growth of Net Income (y/y):  29.9%
Historical revenue growth:  8.5%
Historical growth of Net Income:  21.4%
P / Sales: 0.7x
Margin (Net Income LTM / Revenue): 24.6%
Fundamental value created in LTM:
Market Cap ($m): 1 244
Price to Book: 0.8x

Revenue and Net Income

Quarterly values ($m)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2024-03-17Seeking Alpha

ETV: Attractive Monthly Distribution From This Tech-Heavy Fund

2024-01-25Seeking Alpha

ETV Is Crushing XYLD And JEPI, At Least At NAV

2023-12-07Seeking Alpha

QYLD And ETV: Appealing Plays For Income-Focused Investors

2023-09-11Seeking Alpha

ETW And ETV: A Look At Their Options Writing Strategy

2023-08-14Seeking Alpha

ETV: Higher Risks Than You Think, Now That Inflation Is Back

2023-06-06Seeking Alpha

The Curious Case Of ETV, A 9% Yielding CEF

2023-05-05Seeking Alpha

Weekly Closed-End Fund Roundup: April 23, 2023

2023-05-05Seeking Alpha

Equity CEFs: ETV Is A Far Safer Fund Right Now Than The S&P 500

2023-04-17Seeking Alpha

ETV: Attractive Fund For The Long-Term
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2019 q4 2018 q4 2018 q2
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2020-01-31 2018-12-31 2018-06-30
symbol ETV ETV ETV ETV ETV ETV ETV
reportedCurrency USD USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M 1M
fillingDate 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2020-03-06 2018-12-31 2018-06-30
acceptedDate 2023-12-29 19:00:00 2023-09-29 20:00:00 2023-06-29 20:00:00 2023-03-30 20:00:00 2020-03-06 06:05:02 2018-12-31 00:00:00 2018-06-30 00:00:00
calendarYear 2023.000 2023.000 2023.000 2023.000 2019.000 2018.000 2018.000
period Q4 Q3 Q2 Q1 Q4 Q4 Q2
revenue 73M 5M -7M 5M 453M 0 0
costOfRevenue 8M 0 7M 0 0 0 0
grossProfit 65M 5M -15M 5M 453M 0 0
grossProfitRatio 0.890 1.000 1.980 1.000 1.000 0 0
researchAndDevelopmentExpenses 0 0 0 0 0 0 0
generalAndAdministrativeExpenses 4M 4M 4M 4M 0 0 0
sellingAndMarketingExpenses 0 0 0 0 0 0 0
sellingGeneralAndAdministrativeExpenses 4M 4M 4M 4M 8M 0 0
otherExpenses 224 634 0 204M 0 0 0 0
operatingExpenses -224 634 27M -204M 90M 8M 0 0
costAndExpenses 8M 27M -197M 90M 8M 0 0
interestIncome 0 0 0 0 0 0 0
interestExpense 0 0 0 0 6M 0 0
depreciationAndAmortization -1M -1M -1M -1M 6M 0 0
ebitda 65M 32M 190M 93M 124M 0 0
ebitdaratio 0.893 6.004 -25.421 17.782 0.274 0 0
operatingIncome 65M 1M 190M 1M 119M 0 0
operatingIncomeRatio 0.893 0.206 -25.421 0.271 0.262 0 0
totalOtherIncomeExpensesNet 32M 32M 14.000 93M -6M 0 0
incomeBeforeTax 65M 33M 190M 95M 113M 0 0
incomeBeforeTaxRatio 0.893 6.210 -25.421 18.053 0.249 0 0
incomeTaxExpense 33M 32M 1M 93M 6M 0 0
netIncome 65M 33M 190M 95M 107M 0 0
netIncomeRatio 0.893 6.210 -25.421 18.053 0.236 0 0
eps 0.560 0.280 1.690 0.810 0.980 0 0
epsdiluted 0.560 0.280 1.690 0.810 0.930 0 0
weightedAverageShsOut 117M 117M 112M 117M 109M 78M 0
weightedAverageShsOutDil 117M 117M 112M 117M 115M 78M 0
link Link
finalLink Link

Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q2 2021 q2 2020 q4
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-06-30 2021-06-30 2020-12-31
symbol ETV ETV ETV ETV ETV ETV ETV ETV
reportedCurrency USD USD USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M 1M 1M
fillingDate 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-06-30 2021-06-30 2020-12-31
acceptedDate 2023-12-29 19:00:00 2023-09-29 20:00:00 2023-06-30 00:00:00 2023-03-30 20:00:00 2022-12-31 00:00:00 2022-06-30 00:00:00 2021-06-30 2020-12-31
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000 2021.000 2020.000
period Q4 Q3 Q2 Q1 Q4 Q2 Q2 Q4
cashAndCashEquivalents 22 376 22 376 22 376 22 376 0 20 073 5M 3M
shortTermInvestments 5M 0 4M 0 0 0 0 0
cashAndShortTermInvestments 5M 22 376 22 376 22 376 0 20 073 5M 3M
netReceivables 2M 1M 2M 821 607 4M 2M 5M 3M
inventory 0 0 5M 0 0 0 0 0
otherCurrentAssets -8M 1M -5M 1M 0 0 0 0
totalCurrentAssets 2M 2M 2M 2M 4M 2M 0 0
propertyPlantEquipmentNet 0 0 0 0 0 0 0 0
goodwill 0 0 0 0 0 0 0 0
intangibleAssets 0 0 0 0 0 0 0 0
goodwillAndIntangibleAssets 0 0 0 0 0 0 0 0
longTermInvestments 1 565M 1 570M 1 570M 1 570M 1 328M 1 395M 1 559M 1 349M
taxAssets 0 0 0 0 0 0 0 0
otherNonCurrentAssets -1 565M 150 242 -1 570M -1 570M -1 328M -1 395M 0 0
totalNonCurrentAssets 1 570M 1 570M 1 570M 1 570M 1 328M 1 395M 0 0
otherAssets 0 0 0 0 0 0 1 569M 1 355M
totalAssets 1 573M 1 573M 1 572M 1 572M 1 333M 1 397M 1 569M 1 355M
accountPayables 0 0 0 0 0 0 1M 1M
shortTermDebt 0 0 0 0 0 0 0 0
taxPayables 0 0 0 0 0 0 0 0
deferredRevenue 0 0 0 0 0 0 0 0
otherCurrentLiabilities 30M 30M 29M 29M 0 0 0 0
totalCurrentLiabilities 30M 30M 29M 29M 0 0 0 0
longTermDebt 0 0 0 0 0 0 0 0
deferredRevenueNonCurrent 0 0 0 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 0 0 0 0 0 0 0 0
otherNonCurrentLiabilities 30M 0 29M 0 0 0 0 0
totalNonCurrentLiabilities 30M 0 29M 0 0 0 0 0
otherLiabilities -30M 0 -29M 0 0 0 36M 28M
capitalLeaseObligations 0 0 0 0 0 0 0 0
totalLiabilities 30M 30M 29M 29M 0 0 36M 28M
preferredStock 1.000 1.000 0 0 0 0 0 0
commonStock 1M 1M 1M 1M 1M 1M 981 823 916 621
retainedEarnings 1 115M 1 115M 1 052M 1 052M 909M 888M 1 071M 967M
accumulatedOtherComprehensiveIncomeLoss 0.000 0.000 0 0 0 0 0 0
othertotalStockholdersEquity 426M 426M 490M 490M 411M 496M 460M 359M
totalStockholdersEquity 1 542M 1 542M 1 543M 1 543M 1 321M 1 386M 1 533M 1 327M
totalEquity 1 542M 1 542M 1 543M 1 543M 1 321M 1 386M 1 533M 1 327M
totalLiabilitiesAndStockholdersEquity 1 573M 1 572M 1 572M 0 1 333M 1 397M 1 569M 1 355M
minorityInterest 0 0 0 0 0 0 0 0
totalLiabilitiesAndTotalEquity 1 573M 1 572M 1 572M 0 1 333M 1 397M 1 569M 1 355M
totalInvestments 1 570M 1 570M 1 570M 1 570M 1 328M 1 395M 0 0
totalDebt 0 0 0 0 0 0 0 0
netDebt -22 376 -22 376 -22 376 -22 376 0 -20 073 -5M -3M
link
finalLink

Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2019 q4
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2020-01-31
symbol ETV ETV ETV ETV ETV
reportedCurrency USD USD USD USD USD
cik 1M 1M 1M 1M 1M
fillingDate 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2020-03-06
acceptedDate 2023-12-30 19:00:00 2023-09-29 20:00:00 2023-06-29 20:00:00 2023-03-30 20:00:00 2020-03-06 06:05:02
calendarYear 2023.000 2023.000 2023.000 2023.000 2019.000
period Q4 Q3 Q2 Q1 Q4
netIncome 33M 33M 95M 95M 113M
depreciationAndAmortization 0 0 0 0 6M
deferredIncomeTax 0 0 0 0 19M
stockBasedCompensation 0 0 0 0 30M
changeInWorkingCapital 0 0 0 0 -1 339M
accountsReceivables 0 0 0 0 242 000
inventory 0 0 0 0 0
accountsPayables 0 0 0 0 7M
otherWorkingCapital 0 0 0 0 -1 346M
otherNonCashItems -33M -33M -95M -95M 1 190M
netCashProvidedByOperatingActivities 0 0 0 0 18M
investmentsInPropertyPlantAndEquipment 0 0 0 0 0
acquisitionsNet 0 0 0 0 0
purchasesOfInvestments 0 0 0 0 -73 000
salesMaturitiesOfInvestments 0 0 0 0 0
otherInvestingActivites 0 0 0 0 5M
netCashUsedForInvestingActivites 0 0 0 0 5M
debtRepayment 0 0 0 0 0
commonStockIssued 0 0 0 0 0
commonStockRepurchased 0 0 0 0 0
dividendsPaid 0 0 0 0 -3M
otherFinancingActivites 0 0 0 0 3M
netCashUsedProvidedByFinancingActivities 0 0 0 0 -3M
effectOfForexChangesOnCash 0 0 0 0 0
netChangeInCash 0 0 0 0 20M
cashAtEndOfPeriod 0 0 0 0 20M
cashAtBeginningOfPeriod 0 0 0 0 0
operatingCashFlow 0 0 0 0 18M
capitalExpenditure 0 0 0 0 0
freeCashFlow 0 0 0 0 18M
link Link
finalLink Link

Earning call transcript

Press-releases

Show financial reports only

2023-04-17 12:30 ET
Eaton Vance Closed-End Fund Merger Complete
2023-03-16 20:25 ET
Special Meeting of Shareholders of Eaton Vance Tax-Managed Buy-Write Strategy Fund
2023-02-02 21:05 ET
Adjournment of Special Meeting of Shareholders of Eaton Vance Tax-Managed Buy-Write Strategy Fund

SEC forms

Show financial reports only

SEC form 6
2023-08-24 16:36 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2023 q2
SEC form 6
2023-05-26 10:13 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2023 q1
SEC form 6
2023-03-10 13:20 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2022 q4
SEC form 6
2023-02-01 16:23 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2022 q4
SEC form 6
2022-11-28 15:22 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2022 q3
SEC form 6
2022-08-25 13:23 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2022 q2
SEC form 6
2022-05-27 15:11 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2022 q1
SEC form 6
2022-03-14 16:43 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2021 q4
SEC form 6
2022-02-25 12:40 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2021 q4
SEC form 6
2021-11-24 17:05 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2021 q3
SEC form 6
2021-08-24 14:41 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2021 q2
SEC form 6
2021-05-28 09:32 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2021 q1
SEC form 6
2021-02-25 16:17 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2020 q4
SEC form 6
2020-11-25 14:55 ET
Eaton Vance Tax-Managed Buy-Write Opportunities Fund published news for 2020 q3