# Invesco Trust for Investment Grade Municipals Common Stock (DE) (VGM) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Financial Services / Capital Markets. Price $10.10, market value $548 million.

## Valuation
- **P/E (trailing): 32.6×** (5-yr avg 16.8×, 3-yr avg 16.8×). Invesco Trust for Investment Grade Municipals Common Stock (DE) trades at 32.6× trailing earnings, well above its own five-year average of 16.8×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 31.4×**. Each dollar of revenue is priced at 31.4×, 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: -0.4%** (5-yr avg 20.8%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 3.1%**. The inverse of the P/E: 3.1% of the price is earned each year.

## Profitability
- **Net margin: 97.6%**. 97.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 3.0%**. 3.0% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 1.9%**. Each dollar of assets produces 1.9% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -16.9%**. Revenue fell 16.9% over the last year.

## Dividends
- **Dividend yield: 7.68%** ($0.78 per share, trailing). Invesco Trust for Investment Grade Municipals Common Stock (DE) yields 7.68%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 150%**. The dividend exceeds earnings (150% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 4.8%/yr** (1-yr 20.9%). The dividend has grown 4.8% a year over five years.
- **Shareholder yield: 19.8%**. Dividends plus net buybacks return 19.8% of the market value a year.

## Price and momentum
- **Total return (1 yr): 13.4%** (YTD 1.8%, 3-mo 1.9%). The shares are up 13.4% over twelve months including dividends.
- **From 52-week high: -5.3%** (5.5% above the low). Trading 5% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 37**. An RSI of 37 is neutral.
- **Beta (1 yr): 0.33** (volatility 11%). Beta of 0.33 against the S&P 500: the shares move much less than the market.

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

Not investment advice.