Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust
Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust is a closed-end fixed income fund managed by Guggenheim Investments. The fund’s primary objective is to provide current income, with long-term capital appreciation as a secondary goal. It invests mainly in a diversified portfolio of taxable municipal securities, including Build America Bonds, alongside other investment-grade debt instruments such as municipal conduit, project finance, and select nonprofit-related securities. The trust focuses on U.S. fixed income markets and is designed to give investors access to a broad mix of municipal and higher-quality credit exposures within one portfolio. Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust plays a role in the market as an income-oriented vehicle that combines municipal bond characteristics with investment-grade debt diversification.
$12.49
+$0.08 (+0.64%)
EOD Oct 16, 2026
Revenue grew 42.9%, still solid.
Net debt of $160M represents 9.9x FCF, leverage limits flexibility.
9.2x earnings, 18.2x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$33M
▲ +42.9% YoY
Net Income (TTM)
$32M
▲ +47.3% YoY
Op. Margin
—
ROIC
—
Cash Flow & Balance Sheet
FCF (TTM)
$16M
▲ +170.0% YoY
Op. Cash Flow (TTM)
$16M
▲ +170.0% YoY
Net Debt
$160M
Cash & Equiv.
$19K
3Y CAGR: -33.4%
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Is Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) overvalued?
At a P/E of 9.2 and a price-to-free-cash-flow of 18.2, Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) trades above a two-stage DCF intrinsic value of about $5.08 per share, so at $12.49 the stock looks overvalued (59.3% 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, Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust scores 24/100 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 12.1%; 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 Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $5.08 per share for GBAB, 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 $3.81. At today's $12.49, that puts the stock about 59.3% 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 Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust a high-quality business?+
Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust scores 24 out of 100 on Intrinsiqq's quality score, a weighted blend of 5 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 Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) pay a dividend, and how much?+
Yes, Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust pays a regular dividend of about $1.51 per share per year (typically in quarterly installments), a yield of roughly 12.1% at the current price. That is a payout ratio of about 111.5% of earnings, so the dividend is stretched at this level. Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust has grown the dividend at roughly 1.3% 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 GBAB's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust a good stock to buy right now?+
That depends on valuation and quality together, not either alone. GBAB currently trades above its estimated intrinsic value and scores 24/100 on quality (lower-quality). It also yields about 12.1%. 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.