Invesco California Value Municipal Income Trust Common Stock (VCV)

FairStock Score: 55/100 — STEADY

Key Financials

AI Analysis

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

As a value investor, I start with what I understand. VCV is a closed-end fund holding primarily investment-grade California municipal bonds. At $8.99 on 2026-10-13, market cap $510.2M. It is not an operating business with a durable moat; its returns depend on credit selection, leverage, and the municipal market. The numbers are mixed. FairStock's P/B is 0.85, so it trades below book value, which appeals to a Graham-minded investor. The dividend yield is 8.03%, and beta is 0.75, suggesting lower volatility and high current income. But the P/E is 34.58, ROE 2.38%, ROCE 2.44%, and the Graham Number is $7.85. At $8.99, the margin of safety is -14.52%, meaning price is above that Graham estimate. Piotroski F-Score is 1/9 and Altman Z-Score 0.89, both weak, though these models are imperfect for a leveraged muni fund. Debt/equity is 0.62, so leverage magnifies both income and risk. FairStock score is 55/100. The Lynch category is none because only 0 years of filed results exist, and 3 are needed. The 52-week range is $8.70-$11.38, so the price is near the low. For a muni fund, the key question is whether the 8.03% yield is covered by investment income after leverage costs. Without clear filed growth history, I cannot call it a compounding machine. It may be a discount-to-book income play, but the price is not cheap versus earnings or Graham value. I would demand a wider discount and evidence of stable book value and distribution coverage.

In plain English: Invesco California Value Municipal Income Trust is a closed-end fund that mainly owns California city and state bonds and pays out income to its shareholders. Its profits look thin and its financial-health scores are weak, but it trades for less than the value of its assets and pays a high income. The price looks fair to slightly expensive compared with its earnings, though cheaper compared with the value of its assets.

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