NYSE:PCM

Stock Analysis Report

Executive Summary

PCM Fund Inc. is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC.

Rewards


Snowflake Analysis

Share Price & News

How has PCM Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PCM has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.7%

PCM

-8.0%

US Capital Markets

-7.4%

US Market


1 Year Return

2.8%

PCM

8.3%

US Capital Markets

10.5%

US Market

Return vs Industry: PCM underperformed the US Capital Markets industry which returned 8.3% over the past year.

Return vs Market: PCM underperformed the US Market which returned 10.5% over the past year.


Shareholder returns

PCMIndustryMarket
7 Day-4.7%-8.0%-7.4%
30 Day-3.6%-4.0%-3.6%
90 Day-3.1%-2.1%-0.6%
1 Year11.9%2.8%10.4%8.3%12.8%10.5%
3 Year41.8%9.6%27.5%20.4%37.4%28.6%
5 Year72.9%4.7%70.2%54.4%61.3%43.6%

Price Volatility Vs. Market

How volatile is PCM Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is PCM Fund undervalued compared to its fair value and its price relative to the market?

19.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PCM ($11.27) is trading below our estimate of fair value ($14.05)

Significantly Below Fair Value: PCM is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PCM is good value based on its PE Ratio (12.3x) compared to the Capital Markets industry average (32.3x).

PE vs Market: PCM is good value based on its PE Ratio (12.3x) compared to the US market (17.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PCM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PCM is good value based on its PB Ratio (1.1x) compared to the US Capital Markets industry average (6.6x).

Future Growth

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

8.5%

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 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 SimplyWall St do have past financial data.

Past Performance

How has PCM Fund performed over the past 5 years?

3.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PCM has high quality earnings.

Growing Profit Margin: PCM's current net profit margins (89.2%) are higher than last year (88.9%).


Past Earnings Growth Analysis

Earnings Trend: PCM's earnings have grown by 3.5% per year over the past 5 years.

Accelerating Growth: PCM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PCM had negative earnings growth (-13.6%) over the past year, making it difficult to compare to the Capital Markets industry average (8.4%).


Return on Equity

High ROE: PCM's Return on Equity (9%) is considered low.


Return on Assets


Return on Capital Employed

Financial Health

How is PCM Fund's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: PCM has a low level of unsold assets or inventory.

Debt Coverage by Assets: PCM's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: PCM's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if PCM has a sufficient allowance for bad loans.

Low Risk Liabilities: PCM reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if PCM has an acceptable proportion of non-loan assets held.

Low Risk Deposits: PCM has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if PCM has an appropriate level of bad loans.

Dividend

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

8.52%

Current Dividend Yield


Dividend Yield vs Market

company8.5%marketbottom25%1.5%markettop25%3.9%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: PCM's dividend (8.52%) is higher than the bottom 25% of dividend payers in the US market (1.52%).

High Dividend: PCM's dividend (8.52%) is in the top 25% of dividend payers in the US market (3.9%)


Stability and Growth of Payments

Stable Dividend: PCM's dividends per share have been stable in the past 10 years.

Growing Dividend: PCM's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (105%), PCM's dividend payments are not 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.

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

PCM Fund has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Daniel Ivascyn
Group Chief Investment Officer0yrsno datano data
John Hague
0yrsno datano data
Alfred Murata
Co-Portfolio Manager2.7yrsno datano data
Bryan Tsu
Co-Portfolio Manager2.7yrsno datano data
Russell Gannaway
Co-Portfolio Manager 2.7yrsno datano data

2.7yrs

Average Tenure

Experienced Management: PCM's management team is considered experienced (2.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Alan Rappaport
Director9.7yrsUS$1.00k0.0086% $11.7k
Deborah DeCotis
Director8.7yrsUS$1.00kno data
Hans Kertess
Chairman0yrsUS$2.00kno data
John Maney
Director11.8yrsno datano data
William Ogden
Director11.8yrsUS$1.00kno data
Bradford Gallagher
Director9.4yrsUS$1.00kno data
James Jacobson
Director10.2yrsUS$2.00kno data

9.9yrs

Average Tenure

74yo

Average Age

Experienced Board: PCM's board of directors are considered experienced (9.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PCM insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PCM Fund Inc.'s company bio, employee growth, exchange listings and data sources


Key Information


Location

  • PCM Fund Inc.
  • 650 Newport Center Drive
  • Newport Beach
  • California
  • 92660
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PCMNYSE (New York Stock Exchange)YesCommon StockUSUSDAug 1993

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/26 00:49
End of Day Share Price2020/02/25 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


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.