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PML

PIMCO Municipal Income Fund IINYSE:PML Stock Report

Last Price

US$14.20

Market Cap

US$893.5m

7D

-1.5%

1Y

-1.1%

Updated

16 Jan, 2022

Data

Company Financials
PML fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health3/6
Dividends4/6

PML Stock Overview

PIMCO Municipal Income Fund II is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC.

Price History & Performance

Summary of all time highs, changes and price drops for PIMCO Municipal Income Fund II
Historical stock prices
Current Share PriceUS$14.20
52 Week HighUS$15.35
52 Week LowUS$13.55
Beta0.25
1 Month Change-3.14%
3 Month Change-2.34%
1 Year Change-1.11%
3 Year Change7.17%
5 Year Change13.42%
Change since IPO-6.89%

Recent News & Updates

Dec 20

PML: Keeping A Neutral Stance In Place For 2022

PML has performed modestly in the second half of the year. This was expected, and next year will probably see a repeat of this performance. The muni sector is an area I will remain long in 2022, but I have reduced my exposure because of the duration risk clouding the outlook. PML still trades at a hefty premium. This makes me cautious, especially when other PIMCO options exist at much cheaper prices.

May 29

PML: Still Too Expensive, Relative Value Exists Elsewhere

PML's return has been flat over the past 3 1/2 months since my last review. The fund still has a very expensive price, which makes buying in now seem like a risky proposition. PML's sister funds from PIMCO both have stronger UNII metrics and lower premiums, suggesting relative value resides in those options. The broader muni market has been a beneficiary of massive federal spending bills. However, muni bond spreads are at historically tight levels.

May 07

PIMCO Municipal Income Fund II declares $0.059 dividend

PIMCO Municipal Income Fund II (PML) declares $0.059/share monthly dividend, in line with previous.Forward yield 4.73%Payable June 1; for shareholders of record May 13; ex-div May 12.See PML Dividend Scorecard, Yield Chart, & Dividend Growth.

Feb 04

PML: Despite Recent Gains, I Can't Give This Fund My Blessing

Main Thesis The purpose of this article is to evaluate the PIMCO Municipal Income Fund II (PML) as an investment option at its current market price. As my readers know, I continue to like the municipal bond space. However, as values rise for the underlying bonds, I support being selective with which funds I buy, and at what prices, for the time being. With that in mind, PML still looks like a fund investors need

Jan 04

PIMCO Municipal Income Fund II declares $0.059 dividend

PIMCO Municipal Income Fund II (PML) declares $0.059/share monthly dividend, in line with previous.Forward yield 4.99%Payable Feb. 1; for shareholders of record Jan. 14; ex-div Jan. 13.See PML Dividend Scorecard, Yield Chart, & Dividend Growth.

Dec 02

PIMCO Municipal Income Fund II declares $0.059 dividend

PIMCO Municipal Income Fund II (PML) declares $0.059/share monthly dividend, in line with previous.Forward yield 1.66%Payable Jan. 4; for shareholders of record Dec. 11; ex-div Dec. 10.See PML Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

PMLUS Capital MarketsUS Market
7D-1.5%-1.6%-0.5%
1Y-1.1%30.2%13.7%

Return vs Industry: PML underperformed the US Capital Markets industry which returned 30.2% over the past year.

Return vs Market: PML underperformed the US Market which returned 13.7% over the past year.

Price Volatility

Is PML's price volatile compared to industry and market?
PML volatility
PML Average Weekly Movement1.6%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.4%

Stable Share Price: PML is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: PML's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2002n/an/ahttps://www.allianzinvestors.com/Products/pages/6.aspx?ShareClassCode=ARTIFICIAL

PIMCO Municipal Income Fund II 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 fixed income markets.

PIMCO Municipal Income Fund II Fundamentals Summary

How do PIMCO Municipal Income Fund II's earnings and revenue compare to its market cap?
PML fundamental statistics
Market CapUS$893.47m
Earnings (TTM)US$85.62m
Revenue (TTM)US$52.75m

10.4x

P/E Ratio

16.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PML income statement (TTM)
RevenueUS$52.75m
Cost of RevenueUS$0
Gross ProfitUS$52.75m
Expenses-US$32.87m
EarningsUS$85.62m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.36
Gross Margin100.00%
Net Profit Margin162.32%
Debt/Equity Ratio24.4%

How did PML perform over the long term?

See historical performance and comparison

Dividends

5.0%

Current Dividend Yield

52%

Payout Ratio

Valuation

Is PIMCO Municipal Income Fund II undervalued compared to its fair value and its price relative to the market?

10.44x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PML ($14.2) is trading above our estimate of fair value ($6.39)

Significantly Below Fair Value: PML is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PML is good value based on its PE Ratio (10.4x) compared to the US Capital Markets industry average (15.9x).

PE vs Market: PML is good value based on its PE Ratio (10.4x) compared to the US market (17.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PML is good value based on its PB Ratio (1.1x) compared to the US Capital Markets industry average (42.4x).

Future Growth

How is PIMCO Municipal Income Fund II forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

3.7%

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 Municipal Income Fund II 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 Municipal Income Fund II performed over the past 5 years?

27.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PML has a large one-off gain of $43.6M impacting its June 30 2021 financial results.

Growing Profit Margin: PML's current net profit margins are higher than last year (31.5%).


Past Earnings Growth Analysis

Earnings Trend: PML's earnings have grown significantly by 27.2% per year over the past 5 years.

Accelerating Growth: PML's earnings growth over the past year (350.6%) exceeds its 5-year average (27.2% per year).

Earnings vs Industry: PML earnings growth over the past year (350.6%) exceeded the Capital Markets industry 86.4%.


Return on Equity

High ROE: PML's Return on Equity (7.9%) is considered low.

Financial Health

How is PIMCO Municipal Income Fund II's financial position?


Financial Position Analysis

Short Term Liabilities: PML's short term assets ($20.4M) exceed its short term liabilities ($4.4M).

Long Term Liabilities: PML's short term assets ($20.4M) do not cover its long term liabilities ($267.0M).


Debt to Equity History and Analysis

Debt Level: PML's net debt to equity ratio (23.8%) is considered satisfactory.

Reducing Debt: PML's debt to equity ratio has increased from 5.5% to 24.4% over the past 5 years.

Debt Coverage: PML's debt is not well covered by operating cash flow (17.8%).

Interest Coverage: PML's interest payments on its debt are well covered by EBIT (24.4x coverage).


Balance Sheet

Dividend

What is PIMCO Municipal Income Fund II current dividend yield, its reliability and sustainability?

4.98%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PML's dividend (4.99%) is higher than the bottom 25% of dividend payers in the US market (1.32%).

High Dividend: PML's dividend (4.99%) is in the top 25% of dividend payers in the US market (3.44%)


Stability and Growth of Payments

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

Growing Dividend: PML's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (52.2%), PML's dividend payments are 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?

11.8yrs

Average board tenure


CEO

PIMCO Municipal Income Fund II has no CEO, or we have no data on them.


Board Members

Experienced Board: PML's board of directors are seasoned and experienced ( 11.8 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 Municipal Income Fund II's employee growth, exchange listings and data sources


Key Information


Location

  • PIMCO Municipal Income Fund II
  • 650 Newport Center Drive
  • Newport Beach
  • California
  • 92660
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/16 23:21
End of Day Share Price2022/01/14 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.