Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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.
$1.60
$0.01 (-0.62%)
Price from 8 days ago
Revenue declined 37.1% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 19% versus the prior year, cash generation momentum has weakened.
11.3x earnings, 8.8x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
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%
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At a P/E of 11.3 and a price-to-free-cash-flow of 8.8, MFS Intermediate High Income Fund (CIF) trades below a two-stage DCF intrinsic value of about $2.32 per share, so at $1.60 the stock looks undervalued (44.8% below 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 34/100 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 10.8%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
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 $1.60, that puts the stock about 44.8% below 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.
MFS Intermediate High Income Fund scores 34 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 SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, MFS Intermediate High Income Fund pays a regular dividend of about $0.17 per share per year (typically in quarterly installments), a yield of roughly 10.8% at the current price. That is a payout ratio of about 121.2% of earnings, so the dividend is stretched at this level. 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.
That depends on valuation and quality together, not either alone. CIF currently trades below its estimated intrinsic value and scores 34/100 on quality (lower-quality). It also yields about 10.8%. 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 SEC filings, not investment advice.