PIMCO California Municipal Income Fund Common Stock (PCQ)

FairStock Score: 39/100 — MIXED

Key Financials

AI Analysis

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

I approach this as a closed-end municipal bond fund, not an operating business. PIMCO California Municipal Income Fund owns California munis and uses leverage, as the provided D/E of 0.65 suggests. The attraction is the 5.24% dividend yield and a FairStock P/B of 0.77 at the 2026-10-13 close of $7.81, meaning the shares change hands below their accounting net asset value. The FairStock P/E is 7.10, and the FairStock Graham Number is $26.96, a 71.03% margin of safety, though Graham's formula is a rough fit for a leveraged bond fund. The provided FairStock ROE is 18.07%, but ROCE is only 3.19%, which hints that leverage and fund accounting are doing much of the work. The moat is thin: PIMCO/Allianz management and California municipal-bond supply are advantages, but bond funds compete on fees, distribution rates, and leverage costs, not pricing power. The balance-sheet signals are poor: FairStock Piotroski F-Score 1/9 and Altman Z-Score 0.13, though Altman was not designed for a fund. FairStock Score 39/100 and no Lynch category—because there are zero years of filed annual results, far short of the required three—mean I cannot judge consistency through a full credit cycle. Growth is not supplied: revenue and profit growth are N/A. A low beta of 0.40 and a price near the 52-week low of $7.57 could be opportunity if NAV holds and leverage costs stay contained. But without filed history, I would treat the discount and yield as compensation for opacity, rate risk, and leverage rather than a clear margin of safety.

In plain English: PIMCO California Municipal Income Fund is a closed-end fund that mostly owns California municipal bonds. Its numbers make the shares look inexpensive compared with its profits and the value of its assets on paper, but its financial-strength signs are weak and there is almost no multi-year filing history. At $7.81 on 2026-10-13, the price sits near the low end of its 52-week range.

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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