MFS Intermediate High Income Fund
MFS Intermediate High Income Fund is a closed-end taxable bond fund focused on generating high current income, with secondary consideration for capital appreciation. The fund primarily invests in high-yield fixed income securities, typically within lower-rated credit categories, positioning it within the high yield (or "junk bond") sector of the fixed income market. Managed by MFS, the fund maintains a diversified portfolio of debt instruments across various industries, seeking to capitalize on opportunities in corporate credit markets. Notable holdings often include bonds from sectors like communications, healthcare, and consumer services. With a managed distribution plan and a relatively high distribution rate, the fund routinely distributes income to shareholders, sometimes exceeding net investment income and realized gains, which can result in a return of capital. Established in 1988, MFS Intermediate High Income Fund plays a role in providing investors with access to higher-yielding debt instruments, offering potential income diversification and exposure to credit markets beyond investment grade bonds.
$69.45
+$0.23 (+0.33%)
EOD Oct 16, 2026
Revenue declined 37.1% YoY. The question is whether this is cyclical or a structural shift.
At 489x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 19% versus the prior year, cash generation momentum has weakened.
488.6x earnings, 383.2x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$3M
▼ -37.1% YoY
Net Income (TTM)
$3M
▼ -38.2% YoY
Op. Margin
—
ROIC
—
Cash Flow & Balance Sheet
FCF (TTM)
$3M
▼ -19.5% YoY
Op. Cash Flow (TTM)
$3M
▼ -19.5% YoY
Net Debt
N/A
Cash & Equiv.
N/A
3Y CAGR: -18.7%
Continue Research
Is MFS Intermediate High Income Fund (CIF) overvalued?
At a P/E of 488.6 and a price-to-free-cash-flow of 383.2, MFS Intermediate High Income Fund (CIF) trades above a two-stage DCF intrinsic value of about $2.32 per share, so at $69.45 the stock looks overvalued (96.7% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, MFS Intermediate High Income Fund scores 20/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 1.4%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is MFS Intermediate High Income Fund's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $2.32 per share for CIF, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $1.74. At today's $69.45, that puts the stock about 96.7% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is MFS Intermediate High Income Fund a high-quality business?+
MFS Intermediate High Income Fund scores 20 out of 100 on Intrinsiqq's quality score, a weighted blend of 4 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does MFS Intermediate High Income Fund (CIF) pay a dividend, and how much?+
Yes, MFS Intermediate High Income Fund pays a regular dividend of about $0.96 per share per year (typically in quarterly installments), a yield of roughly 1.4% at the current price. That is a payout ratio of about 672.7% of earnings, so the dividend is stretched at this level. MFS Intermediate High Income Fund has grown the dividend at roughly 3.0% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For CIF's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is MFS Intermediate High Income Fund a good stock to buy right now?+
That depends on valuation and quality together, not either alone. CIF currently trades above its estimated intrinsic value and scores 20/100 on quality (lower-quality). It also yields about 1.4%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.