Nuveen California AMT-Free Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc.
Share Price & News
How has Nuveen California AMT-Free Quality Municipal Income Fund's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: NKX has not had significant price volatility in the past 3 months.
7 Day Return
US Capital Markets
1 Year Return
US Capital Markets
Return vs Industry: NKX exceeded the US Capital Markets industry which returned 8.3% over the past year.
Return vs Market: NKX exceeded the US Market which returned 10.5% over the past year.
Price Volatility Vs. Market
How volatile is Nuveen California AMT-Free Quality Municipal Income Fund's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Nuveen California AMT-Free Quality Municipal Income Fund undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: NKX ($15.97) is trading above our estimate of fair value ($1.96)
Significantly Below Fair Value: NKX is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: NKX is good value based on its PE Ratio (7.9x) compared to the Capital Markets industry average (32.3x).
PE vs Market: NKX is good value based on its PE Ratio (7.9x) compared to the US market (17.2x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate NKX's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: NKX is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (6.6x).
How is Nuveen California AMT-Free Quality Municipal Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
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 Nuveen California AMT-Free Quality Municipal Income Fund 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.
How has Nuveen California AMT-Free Quality Municipal Income Fund performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NKX has a large one-off gain of $65.6M impacting its August 31 2019 financial results.
Growing Profit Margin: NKX's current net profit margins are higher than last year (7.5%).
Past Earnings Growth Analysis
Earnings Trend: NKX's earnings have declined by -29.5% per year over the past 5 years.
Accelerating Growth: NKX's earnings growth over the past year (2458.9%) exceeds its 5-year average (-29.5% per year).
Earnings vs Industry: NKX earnings growth over the past year (2458.9%) exceeded the Capital Markets industry 8.4%.
Return on Equity
High ROE: NKX's Return on Equity (12.1%) is considered low.
Return on Assets
Return on Capital Employed
How is Nuveen California AMT-Free Quality Municipal Income Fund's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: NKX has a low level of unsold assets or inventory.
Debt Coverage by Assets: NKX's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: NKX's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if NKX has a sufficient allowance for bad loans.
Low Risk Liabilities: NKX reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if NKX has an acceptable proportion of non-loan assets held.
Low Risk Deposits: NKX has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if NKX has an appropriate level of bad loans.
What is Nuveen California AMT-Free Quality Municipal Income Fund's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: NKX's dividend (3.87%) is higher than the bottom 25% of dividend payers in the US market (1.52%).
High Dividend: NKX's dividend (3.87%) is low compared to the top 25% of dividend payers in the US market (3.9%).
Stability and Growth of Payments
Stable Dividend: NKX's dividend payments have been volatile in the past 10 years.
Growing Dividend: NKX's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (30.6%), NKX's dividend payments are 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.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Nuveen California AMT-Free Quality Municipal Income Fund has no CEO, or we have no data on them.
|Independent Trustee||15.1yrs||US$2.48k||no data|
|Independent Chairman of the Board||6.6yrs||US$2.82k||no data|
|Independent Trustee||24.1yrs||US$2.62k||no data|
|Independent Trustee||23.1yrs||US$2.31k||no data|
|Independent Trustee||21.1yrs||US$2.24k||no data|
|Independent Trustee||9.1yrs||US$2.10k||no data|
|Independent Trustee||16.1yrs||US$2.05k||no data|
|Independent Trustee||11.7yrs||US$2.50k||no data|
|Independent Trustee||6.4yrs||US$690.00||no data|
|Independent Trustee||13.1yrs||US$2.37k||no data|
Experienced Board: NKX's board of directors are seasoned and experienced ( 14.1 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Nuveen California AMT-Free Quality Municipal Income Fund's company bio, employee growth, exchange listings and data sources
- Name: Nuveen California AMT-Free Quality Municipal Income Fund
- Ticker: NKX
- Exchange: NYSE
- Founded: 2002
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: US$761.751m
- Shares outstanding: 47.52m
- Website: https://www.nuveen.com/CEF/Product/Overview.aspx?fundcode=NKX
- Nuveen California AMT-Free Quality Municipal Income Fund
- 333 West Wacker Drive
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|NKX||NYSE (New York Stock Exchange)||Yes||Common Shares||US||USD||Nov 2002|
Nuveen California AMT-Free Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the fixed income markets of California, United States. The fund primarily invests in undervalued municipal securities and other related investments the income which are exempt from regular federal and California income taxes and are rated Baa, BBB or higher with an average maturity of 20.17 years. It employs fundamental analysis with a bottom-up approach to create its portfolio. The fund benchmarks the performance of its portfolio against the Standard & Poor’s (S&P) California Municipal Bond Index and the S&P National Municipal Bond Index. It was formerly known as Nuveen California AMT-Free Municipal Income Fund. Nuveen California AMT-Free Quality Municipal Income Fund was formed on November 21, 2002 and is domiciled in the United States.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/26 00:19|
|End of Day Share Price||2020/02/25 00:00|
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.