| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 0/6 |
| Past Performance | 2/6 |
| Financial Health | 2/6 |
| Dividends | 3/6 |
PHK Stock Overview
PIMCO High Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC.
PIMCO High Income Fund Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$5.59 |
| 52 Week High | US$7.09 |
| 52 Week Low | US$5.33 |
| Beta | 0.73 |
| 1 Month Change | -3.62% |
| 3 Month Change | -1.59% |
| 1 Year Change | -17.43% |
| 3 Year Change | -28.06% |
| 5 Year Change | -37.05% |
| Change since IPO | -62.78% |
Recent News & Updates
PHK: Some Positive Attributes, If You Are Willing To Pay A Premium
PHK has been a relatively weak performer over the longer term, so readers were right to approach this fund cautiously. After a recent sell-off, there is certainly a buy case to be made, although I would reiterate this is not a CEF for the risk averse. Income metrics are not very strong, and a premium price is still present. Yet, the premium is lower than it has been in the past. Also, the duration is reasonable, driven by below investment grade holdings. With yields likely to go up in 2022, this managed duration approach is attractive.
PHK: A Solid Income Fund But Extremely Expensive
Investors have been struggling to generate income for a very long time due to the policies of the Federal Reserve. PHK is a promising income fund from a respected manager that boasts a diversified high-yield portfolio. The portfolio does not appear to be very risky despite it containing junk bonds. The 8.46% yield appears to be sustainable, although its long-term track record is a bit discouraging. The fund is trading at an extremely high premium to net asset value so there are other funds out there with better valuations.
PHK And RCS: What's The Latest On PIMCO Taxable CEFs?
(This report was issued to members of Yield Hunting on December 22nd. All data is from that date.) PIMCO released the latest monthly update UNII report. As I've noted many, many times, this report gets more attention than it's worth. In reality, NAV movements and valuations are better indications. On the report itself, I think the FY to date numbers are the most important followed by calculating the net investment income on a monthly basis.
PIMCO High Income Fund declares $0.048 dividend
PIMCO High Income Fund (PHK) declares $0.048/share monthly dividend, in line with previous.Forward yield 9.47%Payable Feb. 1; for shareholders of record Jan. 14; ex-div Jan. 13.See PHK Dividend Scorecard, Yield Chart, & Dividend Growth.
PIMCO High Income Fund declares $0.048 dividend
PIMCO High Income Fund (PHK) declares $0.048/share monthly dividend, in line with previous.Forward yield 9.47%Payable Jan. 4; for shareholders of record Dec. 11; ex-div Dec. 10.See PHK Dividend Scorecard, Yield Chart, & Dividend Growth.
Shareholder Returns
| PHK | US Capital Markets | US Market | |
|---|---|---|---|
| 7D | -0.4% | 3.3% | 1.0% |
| 1Y | -17.4% | -13.5% | -15.1% |
Return vs Industry: PHK underperformed the US Capital Markets industry which returned -14% over the past year.
Return vs Market: PHK underperformed the US Market which returned -13.2% over the past year.
Price Volatility
| PHK volatility | |
|---|---|
| PHK Average Weekly Movement | 3.3% |
| Capital Markets Industry Average Movement | 0.4% |
| Market Average Movement | 7.8% |
| 10% most volatile stocks in US Market | 16.8% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: PHK is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: PHK's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2003 | n/a | n/a | https://www.allianzinvestors.com/products/pages/13.aspx |
PIMCO High Income Fund 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 invests in the public fixed income markets across the globe.
PIMCO High Income Fund Fundamentals Summary
| PHK fundamental statistics | |
|---|---|
| Market Cap | US$738.51m |
| Earnings (TTM) | US$197.61m |
| Revenue (TTM) | US$83.14m |
3.7x
P/E Ratio8.9x
P/S RatioIs PHK overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| PHK income statement (TTM) | |
|---|---|
| Revenue | US$83.14m |
| Cost of Revenue | US$0 |
| Gross Profit | US$83.14m |
| Other Expenses | -US$114.47m |
| Earnings | US$197.61m |
Last Reported Earnings
Jul 31, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.50 |
| Gross Margin | 100.00% |
| Net Profit Margin | 237.69% |
| Debt/Equity Ratio | 56.9% |
How did PHK perform over the long term?
See historical performance and comparisonDividends
10.3%
Current Dividend Yield39%
Payout RatioValuation
Is PIMCO High Income Fund undervalued compared to its fair value and its price relative to the market?
Valuation Score
3/6Valuation Score 3/6
Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry
17.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PHK ($5.59) is trading below our estimate of fair value ($6.74)
Significantly Below Fair Value: PHK is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: PHK is good value based on its Price-To-Earnings Ratio (3.7x) compared to the US Capital Markets industry average (29.6x).
PE vs Market: PHK is good value based on its Price-To-Earnings Ratio (3.7x) compared to the US market (14.9x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PHK's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PHK is overvalued based on its Price-To-Book Ratio (0.9x) compared to the US Capital Markets industry average (-18.8x).
Future Growth
How is PIMCO High Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Future Growth Score
0/6Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
9.8%
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 PIMCO High 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.
Past Performance
How has PIMCO High Income Fund performed over the past 5 years?
Past Performance Score
2/6Past Performance Score 2/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-16.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PHK has a high level of non-cash earnings.
Growing Profit Margin: PHK became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: PHK's earnings have declined by 16.5% per year over the past 5 years.
Accelerating Growth: PHK has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: PHK has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (96.7%).
Return on Equity
High ROE: PHK's Return on Equity (23.2%) is considered high.
Financial Health
How is PIMCO High Income Fund's financial position?
Financial Health Score
2/6Financial Health Score 2/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: PHK's short term assets ($113.6M) do not cover its short term liabilities ($519.0M).
Long Term Liabilities: PHK's short term assets ($113.6M) exceed its long term liabilities ($14.1M).
Debt to Equity History and Analysis
Debt Level: PHK's net debt to equity ratio (56%) is considered high.
Reducing Debt: PHK's debt to equity ratio has increased from 17.4% to 56.9% over the past 5 years.
Debt Coverage: PHK's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: PHK earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Dividend
What is PIMCO High Income Fund current dividend yield, its reliability and sustainability?
Dividend Score
3/6Dividend Score 3/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
10.30%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PHK's dividend (10.3%) is higher than the bottom 25% of dividend payers in the US market (1.57%).
High Dividend: PHK's dividend (10.3%) is in the top 25% of dividend payers in the US market (4.06%)
Stability and Growth of Payments
Stable Dividend: PHK's dividend payments have been volatile in the past 10 years.
Growing Dividend: PHK's dividend payments have fallen over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: With its reasonably low payout ratio (39%), PHK's dividend payments are well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Insufficient data to calculate cash payout ratio to determine if its dividend payments are covered by cash flows.
Management
How experienced are the management team and are they aligned to shareholders interests?
11.9yrs
Average board tenure
CEO
PIMCO High Income Fund has no CEO, or we have no data on them.
Board Members
Experienced Board: PHK's board of directors are seasoned and experienced ( 11.9 years average tenure).
Ownership
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.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
PIMCO High Income Fund's employee growth, exchange listings and data sources
Key Information
- Name: PIMCO High Income Fund
- Ticker: PHK
- Exchange: NYSE
- Founded: 2003
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Implied Market Cap: US$738.510m
- Shares outstanding: 132.11m
- Website: https://www.allianzinvestors.com/products/pages/13.aspx
Location
- PIMCO High Income Fund
- 650 Newport Center Drive
- Newport Beach
- California
- 92660
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/05/25 00:00 |
| End of Day Share Price | 2022/05/25 00:00 |
| Earnings | 2021/07/31 |
| Annual Earnings | 2021/07/31 |
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.