Nuveen AMT-Free Quality Municipal Income Fund Common Shares of Beneficial Interest Par Value $.01 (NEA)

FairStock Score: 42/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I look for a margin of safety and a durable business. NEA is a closed-end municipal bond fund, not an operating company, so I must judge it differently. It holds tax-exempt municipal bonds rated Baa/BBB or better, including AMT-free issues. The price on 2026-10-13 was $9.93, while FairStock reports P/B of 0.84, a discount to book value. The FairStock Graham Number is $14.39, implying a 30.99% margin of safety, and the dividend yield is 7.91%. Those are attractive headline numbers. However, the fund's ROE is only 2.27% and ROCE 2.26%, with a P/E of 12.73. Its D/E of 0.69 means leverage, which is common for closed-end funds but amplifies interest-rate and credit risk. The Piotroski F-Score of 1/9 and Altman Z-Score of 0.77 look weak, though those tools are built for industrial companies rather than bond funds. Beta is 0.69, suggesting lower volatility than stocks. The 52-week range is $9.53 to $11.90, so the shares are near the low end. The FairStock Score is 42/100, and no Lynch category applies because only 0 years of filed results are available. Growth is not meaningful here: revenue and profit growth are N/A. The moat is narrow—scale and tax-exempt mandate help, but municipal bond markets are competitive. In sum, this looks like a modestly cheap income vehicle for investors who understand closed-end fund leverage, but the quality signals are mixed and the margin of safety depends on the discount persisting.

In plain English: Nuveen AMT-Free Quality Municipal Income Fund owns tax-free U.S. municipal bonds and aims to pay high income. The price looks modestly cheap versus its accounting value, but the fund's profits and financial health scores look weak. It uses borrowing, so the high income comes with real risks.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer