PIMCO California Municipal Income Fund
PIMCO California Municipal Income Fund is a closed-end municipal bond fund managed by PIMCO. The fund seeks to provide current income that is exempt from federal and California state income taxes by investing primarily in California municipal securities, including bonds issued by state agencies, local governments, and public authorities. It is designed for investors looking for exposure to the California municipal market through a professionally managed portfolio focused on tax-advantaged income. The fund is part of PIMCO’s broader municipal income platform and plays a specialized role in the fixed-income market by financing public projects and essential services across California while offering a diversified structure within a single listed fund.
$7.95
+$0.09 (+1.15%)
EOD Oct 16, 2026
Revenue grew 1691.5%, still solid. Free cash flow declined 1505% despite revenue growth, conversion is weakening.
Free cash flow declined 1505% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$243M. The business is consuming cash, not generating it.
3.6x earnings. 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
▲ +1691.5% YoY
Net Income (TTM)
$33M
▲ +1950.8% YoY
Op. Margin
—
ROIC
—
Cash Flow & Balance Sheet
FCF (TTM)
-$243M
▼ -1504.8% YoY
Op. Cash Flow (TTM)
-$243M
▼ -1504.8% YoY
Net Debt
-$10M
Net Cash Position
Cash & Equiv.
$10M
Continue Research
Is PIMCO California Municipal Income Fund (PCQ) overvalued?
At a P/E of 3.6, PIMCO California Municipal Income Fund (PCQ)'s valuation is best read against its own history, its peers, and the growth its price implies. 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, PIMCO California Municipal Income Fund scores 30/100 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 5.4%; 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
Is PIMCO California Municipal Income Fund a high-quality business?+
PIMCO California Municipal Income Fund scores 30 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 PIMCO California Municipal Income Fund (PCQ) pay a dividend, and how much?+
Yes, PIMCO California Municipal Income Fund pays a regular dividend of about $0.43 per share per year (typically in quarterly installments), a yield of roughly 5.4% at the current price. That is a payout ratio of about 19.5% of earnings, so the dividend is amply covered by earnings. PIMCO California Municipal Income Fund has grown the dividend at roughly 1.4% 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 PCQ's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is PIMCO California Municipal Income Fund a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh PCQ's valuation and scores 30/100 on quality (lower-quality). It also yields about 5.4%. 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.
Related stocks: Asset Management
Spot a number that looks wrong?
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.