# Invesco Advantage Municipal Income Trust II Common Shares of Beneficial Interest (DE) (VKI) fundamentals

Data as of 2026-09-08. AMEX, United States. Sector: Financial Services / Capital Markets. Price $8.67, market value $385 million.

## Valuation
- **P/E (trailing): 34.7×** (5-yr avg 17.0×, 3-yr avg 17.0×). Invesco Advantage Municipal Income Trust II Common Shares of Beneficial Interest (DE) trades at 34.7× trailing earnings, well above its own five-year average of 17.0×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 33.9×**. Each dollar of revenue is priced at 33.9×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 0.9×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **Free-cash-flow yield: 8.0%** (5-yr avg 17.7%). Free cash flow equals 8.0% of the market value, below its five-year average of 17.7%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 2.9%**. The inverse of the P/E: 2.9% 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: 2.7%**. 2.7% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 1.7%**. Each dollar of assets produces 1.7% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -23.4%**. Revenue fell 23.4% over the last year.
- **Free-cash-flow growth (3 yr): -29.3%/yr**. Free cash flow has compounded at -29.3% a year over three years.

## Financial health
- **Cash and short-term investments: $108,594**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 7.74%** ($0.67 per share, trailing). Invesco Advantage Municipal Income Trust II Common Shares of Beneficial Interest (DE) yields 7.74%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 165%** (59% of free cash flow). The dividend exceeds earnings (165% payout), though free cash flow still covers it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 4.5%/yr** (1-yr 19.4%). The dividend has grown 4.5% a year over five years.
- **Shareholder yield: 20.3%**. Dividends plus net buybacks return 20.3% of the market value a year.

## Price and momentum
- **Total return (1 yr): 11.5%** (YTD -0.8%, 3-mo -1.0%). The shares are up 11.5% over twelve months including dividends.
- **From 52-week high: -9.7%** (4.3% 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): 34**. An RSI of 34 is neutral.
- **Beta (1 yr): 0.36** (volatility 13%). Beta of 0.36 against the S&P 500: the shares move much less than the market.

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

Not investment advice.