AMEX:VCF

Stock Analysis Report

Delaware Investments Colorado Municipal Income Fund

Executive Summary

Delaware Investments Colorado Municipal Income Fund, Inc.

Rewards


Snowflake Analysis

Share Price & News

How has Delaware Investments Colorado Municipal Income Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

10.4%

VCF

19.7%

US Capital Markets

12.5%

US Market


1 Year Return

-4.6%

VCF

-13.2%

US Capital Markets

-12.7%

US Market

Return vs Industry: VCF exceeded the US Capital Markets industry which returned -13.2% over the past year.

Return vs Market: VCF exceeded the US Market which returned -12.7% over the past year.


Shareholder returns

VCFIndustryMarket
7 Day10.4%19.7%12.5%
30 Day-10.7%-16.9%-14.7%
90 Day-9.4%-23.7%-21.5%
1 Year-0.04%-4.6%-11.5%-13.2%-10.9%-12.7%
3 Year5.3%-8.2%6.8%0.7%12.6%5.4%
5 Year19.2%-5.7%32.7%20.3%31.9%17.5%

Price Volatility Vs. Market

How volatile is Delaware Investments Colorado Municipal Income Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Delaware Investments Colorado Municipal Income Fund undervalued compared to its fair value and its price relative to the market?

10.68x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: VCF ($13.52) is trading above our estimate of fair value ($1.63)

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


Price To Earnings Ratio

PE vs Industry: VCF is good value based on its PE Ratio (10.7x) compared to the Capital Markets industry average (32.5x).

PE vs Market: VCF is good value based on its PE Ratio (10.7x) compared to the US market (13x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: VCF is good value based on its PB Ratio (0.9x) compared to the US Capital Markets industry average (7.2x).

Future Growth

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

5.9%

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 Delaware Investments Colorado 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.

Past Performance

How has Delaware Investments Colorado Municipal Income Fund performed over the past 5 years?

-28.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VCF has a large one-off gain of $3.4M impacting its September 30 2019 financial results.

Growing Profit Margin: VCF's current net profit margins are higher than last year (6.1%).


Past Earnings Growth Analysis

Earnings Trend: VCF's earnings have declined by -28.5% per year over the past 5 years.

Accelerating Growth: VCF's earnings growth over the past year (2222.6%) exceeds its 5-year average (-28.5% per year).

Earnings vs Industry: VCF earnings growth over the past year (2222.6%) exceeded the Capital Markets industry 9.7%.


Return on Equity

High ROE: VCF's Return on Equity (8.3%) is considered low.

Financial Health

How is Delaware Investments Colorado 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


Balance Sheet

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

Debt Coverage by Assets: VCF's debt is not covered by short term assets (assets are 0x debt).


Financial Institutions Analysis

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

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

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

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

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

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

Dividend

What is Delaware Investments Colorado Municipal Income Fund's current dividend yield, its reliability and sustainability?

3.99%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: VCF's dividend (3.99%) is higher than the bottom 25% of dividend payers in the US market (1.98%).

High Dividend: VCF's dividend (3.99%) is low compared to the top 25% of dividend payers in the US market (5.49%).


Stability and Growth of Payments

Stable Dividend: VCF's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (47%), VCF'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.

Management

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

15.0yrs

Average board tenure


CEO

Delaware Investments Colorado Municipal Income Fund has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Thomas Whitford
Independent Director7.17yrsno datano data
John Fry
Independent Director19.17yrsUS$3.07kno data
Janet Yeomans
Independent Director20.92yrsUS$3.93kno data
Patrick Coyne
Chairman13.58yrsno datano data
Joseph Zecher
Independent Director15yrsUS$3.40kno data
Lucinda Landreth
Independent Director15yrsUS$3.74kno data
Thomas Bennett
Independent Director15yrsUS$3.77kno data
Frances Sevilla-Sacasa
Independent Director8.5yrsUS$2.08kno data

15.0yrs

Average Tenure

67yo

Average Age

Experienced Board: VCF's board of directors are seasoned and experienced ( 15 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

Delaware Investments Colorado Municipal Income Fund, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Delaware Investments Colorado Municipal Income Fund, Inc.
  • Ticker: VCF
  • Exchange: AMEX
  • Founded: 1993
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$65.398m
  • Shares outstanding: 4.84m
  • Website: https://www.delawareinvestments.com/closed-end/products/delaware-investments-colorado-municipal-income-fund-inc.aspx

Location

  • Delaware Investments Colorado Municipal Income Fund, Inc.
  • 2005 Market Street
  • One Commerce Square
  • Philadelphia
  • Pennsylvania
  • 19103-7094
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VCFAMEX (NYSE MKT LLC)YesCommon StockUSUSDJul 1993

Biography

Delaware Investments Colorado Municipal Income Fund, Inc. is a closed-ended fixed income mutual fund launched by Delaware Management Holdings, Inc. It is managed by Delaware Management Business Trust. The fund invests in the fixed income markets of the United States. It primarily invests in un-insured, investment grade, tax-exempt Colorado municipal obligations, including airport revenue bonds, city general obligation bonds, continuing care/retirement revenue bonds, convention center/auditorium/hotel revenue bonds, dedicated tax and fees revenue bonds, higher education revenue bonds, hospital revenue bonds, municipal lease revenue bonds, parking revenue bonds, political subdivision general obligation bonds, pre-refunded bonds, school district general obligation bonds, school district revenue bonds, turnpike/toll road revenue bonds, and water and sewer revenue bonds. The fund seeks to maintain an average portfolio maturity of 20 to 30 years. It benchmarks the performance of its portfolio against the Barclays Municipal Bond Index and Lipper CE Other States Municipal Debt Funds Average. Delaware Investments Colorado Insured Municipal Income Fund, Inc. was formed on July 29, 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 Analysis2020/03/30 00:46
End of Day Share Price2020/03/27 00:00
Earnings2019/09/30
Annual Earnings2019/03/31


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.