BlackRock Corporate High Yield Fund, Inc.
BlackRock Corporate High Yield Fund, Inc. is a closed-end fixed income fund managed by BlackRock Advisors, LLC. Its primary objective is to provide current income, with capital appreciation as a secondary goal. The fund focuses on a diversified portfolio of below-investment-grade corporate debt, including high yield bonds, corporate loans, convertible debt securities, and preferred securities issued by companies across a wide range of sectors. By concentrating on the lower-rated segment of the credit market, BlackRock Corporate High Yield Fund, Inc. gives investors access to income-oriented corporate credit exposure within a professionally managed structure. The fund is designed to serve as a broad fixed income allocation for market participants seeking exposure to high yield credit instruments.
$7.73
-$0.01 (-0.13%)
EOD Oct 16, 2026
Revenue grew 14.6%, still solid. Free cash flow declined 91% despite revenue growth, conversion is weakening.
Free cash flow declined 91% versus the prior year, cash generation momentum has weakened. Net debt of $444M represents 21.5x FCF, leverage limits flexibility.
7.7x earnings, 54.8x 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)
$147M
▲ +14.6% YoY
Net Income (TTM)
$146M
▲ +14.8% YoY
Op. Margin
—
ROIC
—
Cash Flow & Balance Sheet
FCF (TTM)
$21M
▼ -90.7% YoY
Op. Cash Flow (TTM)
$21M
▼ -90.7% YoY
Net Debt
$444M
Cash & Equiv.
$449K
3Y CAGR: -32.9%
Continue Research
Is BlackRock Corporate High Yield Fund (HYT) overvalued?
At a P/E of 7.7 and a price-to-free-cash-flow of 54.8, BlackRock Corporate High Yield Fund (HYT) trades above a two-stage DCF intrinsic value of about $-0.59 per share, so at $7.73 the stock looks overvalued (107.7% 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, BlackRock Corporate High Yield Fund scores 16/100 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 BlackRock Corporate High Yield Fund's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $-0.59 per share for HYT, 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 $-0.44. At today's $7.73, that puts the stock about 107.7% 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 BlackRock Corporate High Yield Fund a high-quality business?+
BlackRock Corporate High Yield Fund scores 16 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 BlackRock Corporate High Yield Fund (HYT) pay a dividend, and how much?+
Yes, BlackRock Corporate High Yield Fund pays a regular dividend of about $0.94 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 93.7% of earnings, so the dividend is stretched at this level. BlackRock Corporate High Yield Fund has grown the dividend at roughly 4.6% 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 HYT's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is BlackRock Corporate High Yield Fund a good stock to buy right now?+
That depends on valuation and quality together, not either alone. HYT currently trades above its estimated intrinsic value and scores 16/100 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.