# Invesco California Value Municipal Income Trust (VCV) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Financial Services / Capital Markets. Price $10.23, market value $502 million.

## Valuation
- **P/E (trailing): 39.3×** (5-yr avg 8.9×, 3-yr avg 8.9×). Invesco California Value Municipal Income Trust trades at 39.3× trailing earnings, well above its own five-year average of 8.9×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 39.5×**. Each dollar of revenue is priced at 39.5×, a level that requires very high margins or very fast growth to justify.
- **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: 6.0%** (5-yr avg 12.0%). Free cash flow equals 6.0% of the market value, below its five-year average of 12.0%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 2.5%**. The inverse of the P/E: 2.5% of the price is earned each year.

## Profitability
- **Net margin: 97.2%**. 97.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 2.4%**. 2.4% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 1.5%**. Each dollar of assets produces 1.5% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -29.6%**. Revenue fell 29.6% over the last year.
- **Free-cash-flow growth (3 yr): -12.1%/yr**. Free cash flow has compounded at -12.1% a year over three years.

## Dividends
- **Dividend yield: 7.58%** ($0.78 per share, trailing). Invesco California Value Municipal Income Trust yields 7.58%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 157%** (64% of free cash flow). The dividend exceeds earnings (157% payout), though free cash flow still covers it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 7.6%/yr** (1-yr 22.8%). The dividend has grown 7.6% a year over five years.
- **Shareholder yield: 9.9%**. Dividends plus net buybacks return 9.9% of the market value a year.

## Price and momentum
- **Total return (1 yr): 6.7%** (YTD -4.2%, 3-mo -3.0%). The shares are up 6.7% over twelve months including dividends.
- **From 52-week high: -10.1%** (0.3% above the low). Trading 10% 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): 26**. An RSI of 26 is oversold; bounces are common, but oversold can stay oversold in a real decline.
- **Beta (1 yr): 0.15** (volatility 10%). Beta of 0.15 against the S&P 500: the shares move much less than the market.

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

Not investment advice.