Pimco High Income Fund (PHK)

FairStock Score: 67/100 — STEADY

Key Financials

AI Analysis

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

As a value investor, I start with what I know: PIMCO High Income Fund is a closed-end fund that buys U.S. dollar-denominated high-yield corporate debt. It is not an operating company with a moat in the traditional sense; its edge, if any, comes from PIMCO/Allianz management and a top-down, fundamental credit process. The price is $4.12 at the close on 2026-10-13. FairStock calculations put P/E at 8.58, P/B at 0.88, ROE at 10.24%, ROCE at 5.58%, and D/E at 0.39. The Graham Number is $6.99, implying a 41.06% margin of safety on those inputs, and the indicated dividend yield is 13.49%. That yield is attractive, but it must be weighed against the fund's high-yield credit exposure and leverage. The low beta of 0.57 suggests less market volatility, yet credit risk can be its own kind of volatility. Financial strength is the weak spot: Piotroski F-Score is 0/9 and Altman Z-Score is 0.94, both poor on FairStock's calculations. Revenue and profit growth are N/A, and no Lynch category can be assigned because only 0 years of filed results are available. The 52-week range is $4.04-$5.00, so price is near the low end. Cheapness alone is not enough. I would want to see whether distributions are covered by income, whether the discount to book persists, and whether PIMCO's credit selection offsets high-yield defaults. At 0.88 times book and 41% below the Graham Number, there is a valuation cushion, but the weak scores mean the margin of safety is not a guarantee.

In plain English: PIMCO High Income Fund owns high-yield corporate bonds and aims to pay investors a high income. The business looks mixed: it earns a solid return and trades below its book value, but its financial-strength scores are weak and little filed history is available. At $4.12, the price looks cheaper than the value suggested by the given numbers, though high-yield debt and borrowing add risk.

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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