# Nuveen California AMT-Free Quality Municipal Income Fund (NKX) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Financial Services / Capital Markets. Price $11.98, market value $640 million.

## Valuation
- **P/E (trailing): 27.9×** (5-yr avg 11.4×, 3-yr avg 11.4×). Nuveen California AMT-Free Quality Municipal Income Fund trades at 27.9× trailing earnings, well above its own five-year average of 11.4×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×.
- **Price / book: 1.0×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **Free-cash-flow yield: 1.4%** (5-yr avg 6.2%). Free cash flow equals 1.4% of the market value, below its five-year average of 6.2%, so the shares are pricier on cash than usual.
- **Earnings yield: 3.6%**. The inverse of the P/E: 3.6% of the price is earned each year.

## Profitability
- **Net margin: 109.4%**. 109.4% of each dollar of sales reaches the bottom line.
- **Return on equity: -6.5%**. Return on equity is negative because earnings are negative.
- **Return on assets: -3.7%**. Each dollar of assets produces -3.7% of profit; low single digits are normal for banks and insurers.

## Growth
- **EPS growth (1 yr): -191.8%**. Earnings per share fell 191.8%.
- **Free-cash-flow growth (3 yr): -29.5%/yr**. Free cash flow has compounded at -29.5% a year over three years.

## Financial health
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend yield: 7.21%** ($0.91 per share, trailing). Nuveen California AMT-Free Quality Municipal Income Fund yields 7.21%, high enough to check carefully: yields this high often precede a cut.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 7.2%/yr** (1-yr 17.4%). The dividend has grown 7.2% a year over five years.
- **Shareholder yield: 3.4%**. Dividends plus net buybacks return 3.4% of the market value a year.

## Price and momentum
- **Total return (1 yr): 7.8%** (YTD 0.4%, 3-mo -3.4%). The shares are up 7.8% over twelve months including dividends.
- **From 52-week high: -9.2%** (2.6% above the low). Trading 9% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 38**. An RSI of 38 is neutral.
- **Beta (1 yr): 0.29** (volatility 9%). Beta of 0.29 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=NKX · Page: https://foliofundamentals.com/stocks/nkx

Not investment advice.