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PCM Fund

NYSE:PCM
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PCM
NYSE
$129M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

PCM Fund Inc. is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The last earnings update was 19 days ago. More info.


Add to Portfolio Compare Print
  • PCM Fund is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
PCM Share Price and Events
7 Day Returns
1.6%
NYSE:PCM
2.6%
US Capital Markets
2.4%
US Market
1 Year Returns
1.2%
NYSE:PCM
-12.6%
US Capital Markets
1.9%
US Market
PCM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PCM Fund (PCM) 1.6% 4.4% 13.8% 1.2% 18.5% -8.2%
US Capital Markets 2.6% -0% 10.2% -12.6% 54.7% 55.6%
US Market 2.4% 1.7% 11.9% 1.9% 38.2% 42.4%
1 Year Return vs Industry and Market
  • PCM outperformed the Capital Markets industry which returned -12.6% over the past year.

Value

 Is PCM Fund undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PCM Fund to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for PCM Fund.

NYSE:PCM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $10.15 * 12.5%
$1.27
Book Value of Equity per Share Median Book Value from the past 5 years. $10.15
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:PCM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.726 (1 + (1- 21%) (47.74%))
1
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1 * 5.96%)
8.69%

Discounted Cash Flow Calculation for NYSE:PCM using Excess Returns Model Model

The calculations below outline how an intrinsic value for PCM Fund is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:PCM Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.5% – 8.69%) * $10.15)
$0.39
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.39 / (8.69% - 2.73%)
$6.50
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $10.15 + $6.50
$16.65
NYSE:PCM Discount to Share Price
Calculation Result
Value per share (USD) From above. $16.65
Current discount Discount to share price of $11.13
= -1 x ($11.13 - $16.65) / $16.65
33.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price PCM Fund is available for.
Intrinsic value
33%
Share price is $11.13 vs Future cash flow value of $16.65
Current Discount Checks
For PCM Fund to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PCM Fund's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PCM Fund's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PCM Fund's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PCM Fund's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:PCM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.47
NYSE:PCM Share Price ** NYSE (2019-03-18) in USD $11.13
United States of America Capital Markets Industry PE Ratio Median Figure of 76 Publicly-Listed Capital Markets Companies 24.89x
United States of America Market PE Ratio Median Figure of 3,055 Publicly-Listed Companies 17.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PCM Fund.

NYSE:PCM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:PCM Share Price ÷ EPS (both in USD)

= 11.13 ÷ 0.47

23.7x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PCM Fund is good value based on earnings compared to the US Capital Markets industry average.
  • PCM Fund is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does PCM Fund's expected growth come at a high price?
Raw Data
NYSE:PCM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 2.2x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for PCM Fund, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PCM Fund's assets?
Raw Data
NYSE:PCM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $9.81
NYSE:PCM Share Price * NYSE (2019-03-18) in USD $11.13
United States of America Capital Markets Industry PB Ratio Median Figure of 149 Publicly-Listed Capital Markets Companies 4.76x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
NYSE:PCM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:PCM Share Price ÷ Book Value per Share (both in USD)

= 11.13 ÷ 9.81

1.13x

* Primary Listing of PCM Fund.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PCM Fund is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess PCM Fund's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. PCM Fund has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is PCM Fund expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 PCM 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.4%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PCM Fund expected to grow at an attractive rate?
  • Unable to compare PCM Fund's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare PCM Fund's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare PCM Fund's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NYSE:PCM Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.4%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:PCM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:PCM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 13 19 5
2018-09-30 13 20 9
2018-06-30 14 22 12
2018-03-31 14 26 16
2017-12-31 14 30 19
2017-09-30 15 30 21
2017-06-30 15 30 22
2017-03-31 17 21 18
2016-12-31 18 11 15
2016-09-30 18 12 7
2016-06-30 17 13 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if PCM Fund is high growth as no earnings estimate data is available.
  • Unable to determine if PCM Fund is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:PCM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from PCM Fund Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PCM Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.47
2018-09-30 0.76
2018-06-30 1.06
2018-03-31 1.35
2017-12-31 1.65
2017-09-30 1.77
2017-06-30 1.90
2017-03-31 1.58
2016-12-31 1.27
2016-09-30 0.63
2016-06-30 -0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if PCM Fund will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess PCM Fund's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PCM Fund has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has PCM Fund performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PCM Fund's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PCM Fund's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • PCM Fund's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PCM Fund's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
PCM Fund's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PCM Fund Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PCM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 13.14 5.44 1.66
2018-09-30 13.47 8.86 1.68
2018-06-30 13.80 12.27 1.70
2018-03-31 14.01 15.66 1.72
2017-12-31 14.22 19.05 1.74
2017-09-30 14.53 20.51 1.76
2017-06-30 14.83 21.96 1.78
2017-03-31 16.57 18.32 1.78
2016-12-31 18.30 14.68 1.78
2016-09-30 17.72 7.29 1.80
2016-06-30 17.13 -0.10 1.82
2015-06-30 12.87 10.13 1.87
2014-12-31 13.24 6.88 1.80
2014-09-30 13.85 9.91 1.80
2014-06-30 14.46 12.94 1.80
2014-03-31 15.01 11.76 1.90
2013-12-31 15.57 10.58 2.00
2013-09-30 15.53 17.67 2.09
2013-06-30 15.48 24.76 2.18
2013-03-31 19.21 36.68 2.65
2012-12-31 15.30 34.23 2.13
2012-09-30 15.40 23.12 2.06
2012-06-30 15.51 12.02 2.00
2012-03-31 15.76 7.64 2.01

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PCM Fund has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PCM Fund used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • PCM Fund's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PCM Fund's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PCM Fund has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is PCM Fund's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PCM Fund's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PCM Fund's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • PCM Fund's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of PCM Fund's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PCM Fund Company Filings, last reported 2 months ago.

NYSE:PCM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 113.71 61.50 0.25
2018-09-30 113.71 61.50 0.25
2018-06-30 118.51 64.79 0.03
2018-03-31 118.51 64.79 0.03
2017-12-31 119.20 69.19 0.07
2017-09-30 119.20 69.19 0.07
2017-06-30 117.40 73.51 0.10
2017-03-31 117.40 73.51 0.10
2016-12-31 111.31 88.29 0.14
2016-09-30 111.31 88.29 0.14
2016-06-30 112.10 86.88 0.44
2015-06-30 123.24 88.05 0.22
2014-12-31 123.63 107.20 1.00
2014-09-30 123.63 107.20 1.00
2014-06-30 130.50 60.90 0.38
2014-03-31 130.50 60.90 0.38
2013-12-31 128.67 56.07
2013-09-30 128.67 56.07
2013-06-30 129.98 78.20 0.54
2013-03-31 129.98 78.20 0.54
2012-12-31 130.46 91.19 0.00
2012-09-30 130.46 91.19 0.00
2012-06-30 117.80 98.70 0.10
2012-03-31 108.81 102.40 0.00
  • PCM Fund's level of debt (54.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (43.6% vs 54.1% today).
  • Debt is well covered by operating cash flow (30.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.3x coverage).
X
Financial health checks
We assess PCM Fund's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PCM Fund has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is PCM Fund's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.63%
Current annual income from PCM Fund dividends.
If you bought $2,000 of PCM Fund shares you are expected to receive $173 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PCM Fund's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • PCM Fund's dividend is above the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:PCM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:PCM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-01 0.960 8.726
2019-02-01 0.960 8.911
2019-01-02 0.960 9.165
2018-12-03 0.960 9.439
2018-11-01 0.980 9.336
2018-10-01 0.980 9.081
2018-09-04 0.980 8.516
2018-08-01 0.980 8.477
2018-07-02 0.980 8.646
2018-06-01 0.980 8.349
2018-05-01 0.980 8.388
2018-04-02 0.980 8.587
2018-03-01 0.980 8.687
2018-01-03 0.980 8.901
2017-12-01 0.980 8.479
2017-11-01 0.960 8.266
2017-10-02 0.960 8.185
2017-09-01 0.960 8.211
2017-08-01 0.960 8.463
2017-07-03 0.960 8.428
2017-06-01 0.960 8.733
2017-05-01 0.960 9.047
2017-04-03 0.960 9.301
2017-03-01 0.960 9.398
2017-02-01 0.960 9.322
2017-01-03 0.960 9.537
2016-12-01 0.960 9.729
2016-11-01 0.960 9.925
2016-10-03 0.960 9.672
2016-09-01 0.960 9.600
2016-08-01 0.960 9.431
2016-07-01 0.960 9.630
2016-06-01 0.960 9.954
2016-04-01 0.960 9.863
2016-03-01 0.960 10.232
2016-01-04 0.960 10.746
2015-12-01 0.960 10.385
2015-11-02 0.960 10.079
2015-10-02 0.960 9.891
2015-09-01 0.960 9.983
2015-08-04 0.960 10.020
2015-07-02 0.960 9.705
2015-06-01 0.960 9.211
2015-05-01 0.960 9.071
2015-04-01 0.960 9.070
2015-03-02 0.960 9.046
2015-02-02 0.960 8.947
2015-01-02 0.960 9.011
2014-12-01 0.960 8.819
2014-11-03 1.095 9.950
2014-10-01 1.095 9.899
2014-09-02 1.095 9.523
2014-08-01 1.095 9.418
2014-07-01 1.095 9.179
2014-06-02 1.095 9.016
2014-05-01 1.095 9.056
2014-04-01 1.095 9.053
2014-03-03 1.095 8.995
2014-02-03 1.095 9.133
2014-01-02 1.095 9.288
2013-12-02 1.095 9.592
2013-11-01 0.960 8.442
2013-10-01 1.115 9.635
2013-09-03 0.960 8.364
2013-08-01 1.115 9.924
2013-07-01 0.960 8.439
2013-06-03 0.960 8.066
2013-05-01 1.115 8.548
2013-04-01 0.960 7.283
2013-03-01 1.115 8.599
2013-01-02 0.960 7.737
2012-12-18 1.115 9.304
2012-11-01 1.060 8.915
2012-10-01 1.060 8.735
2012-09-04 1.060 8.621
2012-08-01 1.060 8.939
2012-07-02 1.060 9.225
2012-06-01 1.060 9.632
2012-05-01 1.060 9.733
2012-04-02 1.060 9.752
2012-03-01 1.060 9.641
2012-02-01 1.060 9.537
2012-01-03 1.060 9.667
2011-12-01 1.060 9.861
2011-11-01 1.315 12.149
2011-10-03 1.315 12.891
2011-09-01 1.315 12.534
2011-08-01 1.315 12.201
2011-07-01 1.315 11.754
2011-06-01 1.315 11.792
2011-05-02 0.960 8.528
2011-04-01 0.960 8.752
2011-03-01 0.960 8.780
2011-02-01 0.960 8.974
2011-01-03 0.960 9.020
2010-12-21 1.315 12.445
2010-11-01 0.960 9.049
2010-10-01 0.960 8.791
2010-09-01 0.960 9.038
2010-08-02 0.960 8.998
2010-07-01 0.960 9.214
2010-06-01 0.840 8.622
2010-05-03 0.840 8.904
2010-04-01 0.840 8.747
2010-03-01 0.840 9.228
2010-02-01 0.840 9.886
2010-01-04 0.840 10.031
2009-12-01 1.030 13.059
2009-11-02 0.840 10.853
2009-10-01 0.840 10.553
2009-09-01 0.840 11.459
2009-08-03 0.840 12.105
2009-07-02 0.840 12.846
2009-06-01 0.840 13.589
2009-05-01 0.840 13.632
2009-04-01 0.840 15.812
2009-03-20 0.840 17.293

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of PCM Fund's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess PCM Fund's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PCM Fund afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PCM Fund has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of PCM Fund's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter Strelow
AGE 48
CEO Bio

Mr. Peter G. Strelow has been President of PIMCO Variable Insurance Trust - Global Bond Portfolio (Unhedged) since January 2015. Mr. Strelow is a Managing Director and Co-Chief Operating Officer at Pacific Investment Management Company LLC. Mr. Strelow joined PIMCO in 2002 to help manage back-office operations, focusing on continuous improvement initiatives. He worked in the executive office from 2003 to 2006 on communications and strategic initiatives. He is also responsible for overseeing funds, operations, technology and enterprise risk management. He previously served as Global Head of Funds Business Group. Since 2006, he has primarily worked in the funds business group. Prior to PIMCO, he worked in product management at Siebel Systems. He holds an MBA from the Harvard Business School and an undergraduate degree from the University of California, Berkeley.

CEO Compensation
  • Insufficient data for Peter to compare compensation growth.
  • Insufficient data for Peter to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the PCM Fund management team in years:

10.9
Average Tenure
48
Average Age
  • The average tenure for the PCM Fund management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Peter Strelow

TITLE
President and Principal Executive Officer
AGE
48

Larry Altadonna

TITLE
Principal Financial & Accounting Officer and Treasurer
AGE
52
TENURE
10.9 yrs

Thomas Fuccillo

TITLE
Managing Director & Chief Legal Officer
AGE
50
TENURE
10.9 yrs

Thomas Harter

TITLE
Chief Compliance Officer
AGE
43
TENURE
6.2 yrs

Cathleen Stahl

TITLE
Chief Marketing Officer

Richard Cochran

TITLE
Assistant Treasurer
AGE
57
TENURE
10.8 yrs

Lagan Srivastava

TITLE
Assistant Secretary
AGE
41
TENURE
10.9 yrs

Scott Whisten

TITLE
Assistant Treasurer
AGE
47
TENURE
10.9 yrs

Orhan Dzemaili

TITLE
Assistant Treasurer
AGE
44
TENURE
8.2 yrs

Dan Ivascyn

TITLE
Group Chief Investment Officer
AGE
48
Board of Directors Tenure

Average tenure and age of the PCM Fund board of directors in years:

9
Average Tenure
73
Average Age
  • The tenure for the PCM Fund board of directors is about average.
Board of Directors

Hans Kertess

TITLE
Chairman
COMPENSATION
$2K
AGE
79

William Ogden

TITLE
Director
COMPENSATION
$1,000
AGE
73
TENURE
10.9 yrs

Jimmy Jacobson

TITLE
Director
COMPENSATION
$2K
AGE
73
TENURE
9.3 yrs

John Maney

TITLE
Director
AGE
59
TENURE
10.9 yrs

Bradford Gallagher

TITLE
Director
COMPENSATION
$1,000
AGE
74
TENURE
8.5 yrs

Alan Rappaport

TITLE
Director
COMPENSATION
$1,000
AGE
65
TENURE
8.8 yrs

Deborah DeCotis

TITLE
Director
COMPENSATION
$1,000
AGE
66
TENURE
7.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by PCM Fund insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
22. Feb 19 Buy Alan Rappaport Individual 21. Feb 19 21. Feb 19 1,000 $10.69 $10,687
X
Management checks
We assess PCM Fund's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PCM Fund has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

PCM Fund Inc. is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It seeks to invest in fixed income markets. The fund invests primarily in commercial mortgage-backed securities. It employs fundamental analysis with a focus on top down stock picking approach to create its portfolio. The fund benchmarks the performance of its portfolio against Barclay’s CMBS Investment Grade Index. PCM Fund Inc was formed on September 2, 1993 and is domiciled in the United States.

Details
Name: PCM Fund Inc.
PCM
Exchange: NYSE
Founded: 1993
$128,821,046
11,574,218
Website: http://www.allianzinvestors.com/Products/Pages/391.aspx
Address: PCM Fund Inc.
650 Newport Center Drive,
Newport Beach,
California, 92660,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE PCM Common Stock New York Stock Exchange US USD 27. Aug 1993
Number of employees
Current staff
Staff numbers
0
PCM Fund employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 00:01
End of day share price update: 2019/03/18 00:00
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.