Eaton Vance National Municipal Opportunities Trust (EOT)

Industry: Asset Management Sector: Financial Services Currency Used: US Live Price: $17.47

Enterprise Value

Metric	MRQ	MRQ-1	2025	2024	2023	2022	2021	2020	2019	2018
Stock Price	16.64	16.65	16.65	17.25	16.95	17.75	23.08	19.77	21.87	21.05
Market Capitalization	260.00M	260.15M	260.08M	269.45M	264.76M	275.95M	354.63M	298.79M	333.25M	319.51M
(-) Cash & Equivalents	0.36M	0.03M	0.19M	0.00M	0.00M	5.26M	6.62M	5.32M	0.20M	0.00M
(+) Total Debt	40.28M	39.66M	39.97M	40.82M	40.92M	29.52M	20.74M	21.69M	29.45M	32.12M
Enterprise Value	299.92M	299.79M	299.86M	310.27M	305.68M	300.21M	368.75M	315.16M	362.51M	351.62M

Income Statement

Metric	TTM	TTM-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31
Revenue	26M	12M	7M	15M	-15M	-14M	30M	7M	14M	12M	22M	22M
Cost of Revenue	7M	6M	1M	0M	3M	3M	2M	3M	3M	3M	3M	3M
Gross Profit	19M	6M	5M	15M	-18M	-17M	28M	4M	11M	9M	18M	20M
Gross Profit Margin	72.5%	47.2%	77.9%	100.0%	119.7%	118.1%	92.0%	56.3%	78.3%	74.2%	85.8%	87.4%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	-31M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Operating Expenses	-31M	30M	0M	0M	0M	0M	0M	0M	0M	0M	0M	6M
Operating Income (EBIT)	50M	-24M	5M	15M	-19M	-17M	28M	3M	11M	9M	18M	13M
Operating Income Margin	189.7%	-202.6%	72.7%	97.9%	121.7%	120.3%	91.0%	51.5%	76.2%	71.8%	84.5%	59.2%
Interest Income	0M	0M	16M	16M	14M	14M	14M	16M	18M	18M	0M	0M
Interest Expense	0M	0M	1M	2M	1M	0M	0M	1M	1M	1M	0M	0M
Net Interest Income	0M	0M	14M	14M	14M	14M	14M	15M	17M	18M	0M	0M
Unusual Items	-11M	24M	-14M	-14M	-10M	-11M	-12M	-12M	-14M	-14M	-17M	0M
EBT Excluding Unusual Items	50M	-24M	19M	28M	-5M	-3M	42M	19M	28M	26M	18M	13M
Pre-Tax Income	39M	0M	5M	15M	-16M	-15M	30M	6M	14M	12M	1M	13M
Pre-Tax Margin	148.9%	0.0%	72.7%	97.9%	102.0%	102.1%	99.0%	95.2%	97.9%	97.6%	3.7%	59.2%
Income Tax Expense	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Net Income	26M	62M	5M	15M	-16M	-15M	30M	6M	14M	12M	1M	13M
Net Income Margin	100.3%	519.7%	72.7%	97.9%	102.0%	102.1%	99.0%	95.2%	97.9%	97.6%	3.7%	59.2%
Depreciation & Amortization	28M	-54M	0M	0M	0M	-14M	31M	0M	0M	13M	-29M	-6M
EBITDA	78M	-78M	5M	15M	-19M	-31M	58M	4M	11M	21M	-11M	7M
EBITDA Margin	297.8%	-648.1%	72.7%	97.9%	120.2%	218.7%	191.6%	54.0%	77.3%	177.3%	-51.5%	33.2%
NOPAT	50M	-19M	5M	15M	-15M	-13M	28M	3M	11M	9M	18M	13M
NOPAT Margin	189.7%	-160.1%	72.7%	97.9%	96.1%	95.0%	91.0%	51.5%	77.1%	73.6%	84.5%	59.2%
Owner's Earnings	55M	9M	5M	15M	-15M	-29M	61M	6M	14M	24M	-29M	7M
Owner's Earnings Margin	208.4%	74.2%	72.7%	97.9%	100.5%	200.6%	199.6%	97.8%	99.0%	203.1%	-132.3%	33.2%
EPS (Basic)	2.50	46,874,764.01	0.31	0.93	-1.01	-0.93	1.97	0.41	0.90	0.77	0.05	0.87
EPS (Diluted)	1.69	4.01	0.31	0.93	-1.01	-0.93	1.97	0.41	0.90	0.77	0.05	0.87
Shares (Basic)	16M	16M	16M	16M	16M	16M	15M	15M	15M	15M	15M	15M
Shares (Diluted)	16M	16M	16M	16M	16M	16M	15M	15M	15M	15M	15M	15M

Balance Sheet

Metric	MRQ	MRQ-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2016-03-31
Cash & Cash Equivalents	0.36M	0.03M	0.03M	0.00M	7.30M	7.30M	12.79M	7.96M	0.00M	0.00M	4.83M
Short-Term Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	0.36M	0.03M	0.03M	0.00M	7.30M	7.30M	12.79M	7.96M	0.00M	0.00M	4.83M
Net Receivables	4.29M	4.47M	4.47M	4.43M	4.88M	5.27M	4.42M	9.18M	7.33M	6.16M	5.52M
Inventory	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Assets	0.00M	0.00M	0.00M	-4.43M	-4.88M	-12.58M	-17.21M	-17.14M	-7.33M	0.00M	-10.35M
Total Current Assets	4.65M	4.50M	4.50M	0.00M	7.30M	0.00M	0.00M	0.00M	0.00M	6.16M	0.00M
Property, Plant & Equipment	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Goodwill	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	0.00M	0.00M	0.00M	328.71M	322.40M	328.66M	338.58M	325.52M	362.97M	356.42M	379.77M
Tax Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	317.00M	319.80M	319.80M	-328.71M	-322.40M	12.58M	17.21M	-325.52M	-362.97M	6.16M	-379.77M
Other Assets	0.00M	0.00M	0.00M	333.19M	0.00M	-5.27M	-4.42M	0.00M	0.00M	-6.16M	5.52M
Total Non-Current Assets	317.00M	319.80M	319.80M	333.19M	0.00M	335.96M	351.37M	0.00M	0.00M	356.42M	5.52M
Total Assets	321.65M	324.30M	324.30M	333.19M	7.30M	335.96M	351.37M	0.00M	0.00M	362.58M	5.52M
Accounts Payable	0.22M	2.89M	2.89M	3.06M	0.30M	7.66M	0.56M	6.31M	10.93M	1.66M	0.00M
Short-Term Debt	0.00M	0.00M	0.00M	0.94M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Payables	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	-2.12M	-0.59M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	0.00M	0.00M	0.00M	-2.09M	-0.47M	-7.83M	-0.74M	-6.49M	-1.70M	-2.29M	0.00M
Total Current Liabilities	0.22M	2.89M	2.89M	-0.22M	-0.76M	-0.17M	-0.18M	-0.17M	9.23M	-0.63M	0.00M
Long-Term Debt	40.28M	39.66M	39.66M	39.77M	39.55M	19.66M	21.74M	0.00M	36.30M	35.59M	0.00M
Capital Lease Obligations	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	0.32M	0.36M	0.36M	0.00M	-39.55M	-19.66M	-21.74M	0.00M	-36.30M	-35.59M	41.97M
Total Non-Current Liabilities	40.61M	40.02M	40.02M	39.77M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	41.97M
Total Liabilities	40.82M	42.91M	42.91M	39.55M	-0.76M	-0.17M	-0.18M	-0.17M	9.23M	-0.63M	41.97M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	0.16M	0.16M	0.16M	0.16M	0.16M	0.16M	0.15M	0.15M	0.15M	0.15M	0.15M
Retained Earnings	-17.40M	-16.84M	-16.84M	-9.51M	-12.35M	15.08M	41.27M	22.83M	30.54M	1.50M	2.40M
Accumulated OCI	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	41.27M	22.83M	0.00M	0.00M	55.49M
Minority Interest	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	-17.24M	-16.68M	-16.68M	-9.35M	-12.19M	15.23M	82.69M	45.82M	30.69M	1.66M	58.04M
Total Equity	-17.24M	-16.68M	-16.68M	-9.35M	-12.19M	15.23M	82.69M	45.82M	30.69M	1.66M	58.04M
Total Liabilities & Equity	23.58M	26.23M	26.23M	30.20M	-12.95M	15.06M	82.51M	45.64M	39.92M	1.02M	100.01M
Tangible Assets	321.65M	324.30M	324.30M	333.19M	7.30M	335.96M	351.37M	0.00M	0.00M	362.58M	5.52M
Tangible Equity	-17.24M	-16.68M	-16.68M	-9.35M	-12.19M	15.23M	82.69M	45.82M	30.69M	1.66M	58.04M
Tangible Book Value	-17.24M	-16.68M	-16.68M	-9.35M	-12.19M	15.23M	82.69M	45.82M	30.69M	1.66M	58.04M
Total Investments	0.00M	0.00M	0.00M	328.71M	322.40M	328.66M	338.58M	325.52M	362.97M	356.42M	379.77M
Net Debt	39.92M	39.63M	39.63M	40.70M	32.25M	12.36M	8.95M	-7.96M	36.30M	35.59M	-4.83M

Capital Metrics

Metric	MRQ	MRQ-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2016-03-31
Working Capital	4.4M	1.6M	1.6M	-0.9M	4.6M	-2.4M	3.9M	10.8M	-3.6M	4.5M	4.8M
Total Capital	321.1M	321.1M	321.1M	329.8M	325.8M	333.3M	354.9M	336.0M	357.5M	360.2M	348.1M
Capital Employed	321.4M	321.4M	321.4M	332.3M	327.0M	333.6M	355.2M	336.3M	359.4M	360.9M	390.1M
Invested Capital	320.7M	321.0M	321.0M	329.8M	318.5M	326.0M	342.1M	328.0M	357.5M	360.2M	343.3M

Cash Flow Statement

Metric	TTM	TTM-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31
Net Income	39.10M	—	4.87M	14.56M	-15.71M	-14.51M	30.13M	6.30M	13.69M	11.70M	0.80M	13.28M	39.10M
Depreciation & Amortization	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Income Tax	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-0.28M	—	-0.13M	0.25M	-0.19M	0.00M	0.00M	0.00M	0.00M	0.17M	0.24M	0.23M	-5.44M
Accounts Receivable	0.08M	—	-0.03M	0.14M	-0.49M	0.00M	0.00M	0.00M	0.00M	0.14M	0.16M	0.21M	0.00M
Inventory	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	0.00M	—	0.00M	0.00M	-0.01M	0.00M	0.00M	0.00M	0.00M	-0.01M	-0.01M	-0.01M	0.00M
Other Working Capital	-0.36M	—	-0.09M	0.11M	0.31M	0.00M	0.00M	0.00M	0.00M	0.04M	0.09M	0.02M	0.00M
Other Non-Cash Items	-17.05M	—	6.02M	-3.74M	-0.40M	14.51M	-30.13M	-6.30M	-13.69M	12.68M	13.65M	1.53M	-24.01M
Net Cash from Operating Activities	21.77M	—	10.77M	11.08M	-16.30M	0.00M	0.00M	0.00M	0.00M	24.54M	14.84M	15.24M	9.65M
Capital Expenditures (PPE)	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Acquisitions (Net)	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-251.21M	—	-92.39M	-154.29M	-171.21M	0.00M	0.00M	0.00M	0.00M	-65.83M	-42.52M	-23.42M	0.00M
Sales / Maturities of Investments	262.39M	—	95.12M	154.67M	144.04M	0.00M	0.00M	0.00M	0.00M	76.24M	39.91M	35.44M	0.00M
Other Investing Activities	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Cash from Investing Activities	11.18M	—	2.73M	0.39M	-27.17M	0.00M	0.00M	0.00M	0.00M	10.41M	-2.60M	12.02M	0.00M
Net Debt Issuance	-0.36M	—	-0.94M	0.22M	19.81M	0.00M	0.00M	0.00M	0.00M	-6.00M	0.00M	0.00M	0.00M
Long-Term Debt Issuance	0.00M	—	0.00M	0.22M	19.81M	0.00M	0.00M	0.00M	0.00M	-6.00M	0.00M	0.00M	0.00M
Short-Term Debt Issuance	-0.36M	—	-0.94M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.52M
Common Stock Issuance	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.52M
Preferred Stock Issuance	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-24.80M	—	-12.53M	-11.72M	-11.71M	0.00M	0.00M	0.00M	0.00M	-17.29M	-18.76M	-15.74M	0.00M
Common Dividends Paid	-18.39M	—	-12.53M	-11.72M	-11.71M	0.00M	0.00M	0.00M	0.00M	-17.29M	-18.76M	-15.74M	-15.68M
Preferred Dividends Paid	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-7.44M	—	0.00M	0.04M	0.90M	0.00M	0.00M	0.00M	0.00M	-1.25M	1.70M	-6.74M	0.00M
Net Cash from Financing Activities	-32.59M	—	-13.47M	-11.47M	9.00M	0.00M	0.00M	0.00M	0.00M	-24.54M	-17.06M	-22.48M	-16.21M
Effect of FX on Cash	0.00M	—	0.00M	0.00M	27.17M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Change in Cash	0.36M	—	0.03M	0.00M	-7.30M	-5.48M	4.83M	0.00M	0.00M	10.41M	-4.83M	4.78M	-6.56M
Cash at Beginning of Period	0.03M	—	0.00M	0.00M	7.30M	12.79M	7.96M	0.00M	0.00M	0.00M	4.83M	0.05M	0.00M
Cash at End of Period	0.39M	—	0.03M	0.00M	0.00M	7.30M	12.79M	0.00M	0.00M	10.41M	0.00M	4.83M	-6.56M
Operating Cash Flow	21.77M	—	10.77M	11.08M	-16.30M	0.00M	0.00M	0.00M	0.00M	24.54M	14.84M	15.24M	9.65M
Capital Expenditure	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Free Cash Flow	21.77M	—	10.77M	11.08M	-16.30M	0.00M	0.00M	0.00M	0.00M	24.54M	14.84M	15.24M	9.65M

Free Cash Flow

Metric	TTM	TTM-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31
EBITDA	78.21M	—	4.89M	14.58M	-18.49M	-31.06M	58.29M	3.60M	10.83M	21.27M	-11.06M	13.54M
(-) Tax Adjustment	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
(-) Change In Working Capital	-0.28M	—	-0.13M	0.25M	-0.19M	0.00M	0.00M	0.00M	0.00M	0.17M	0.24M	0.23M
(-) Capital Expenditure	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Unlevered Free Cash Flow	78.50M	—	5.02M	14.33M	-18.30M	-31.06M	58.29M	3.60M	10.83M	21.10M	-11.30M	13.31M
(-) Net Interest Income After Taxes	0.00M	—	14.28M	13.90M	13.53M	13.82M	14.32M	15.18M	16.96M	17.52M	0.00M	0.00M
Net Debt Issuance	-0.36M	—	-0.94M	0.22M	19.81M	0.00M	0.00M	0.00M	0.00M	-6.00M	0.00M	0.00M
Levered Free Cash Flow	78.14M	—	-10.19M	0.64M	-12.02M	-44.88M	43.98M	-11.58M	-6.13M	-2.42M	-11.30M	13.31M