Calamos Convertible Opportunities and Income Fund (CHI) Fundamental Analysis: Bull vs. Bear Case

CHI

Calamos Convertible Opportunities and Income Fund

Fundamental data last updated:October 2, 2026

We may earn a commission from partner links. This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate.

company profile

SECTOR

Financial Services

industry

Asset Management - Income

Exchange

NASDAQ

County of HQ

US

Next Earnings Date

Not Scheduled

Business Summary

Calamos Convertible Opportunities and Income Fund is a closed ended fixed income mutual fund launched by Calamos Investments LLC. It is managed by Calamos Advisors LLC. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of convertible securities and high yield corporate bonds rated Ba or lower by Moody's or BB or lower by Standard & Poor's. The fund employs both fundamental and quantitative analysis with a focus on such factors as financial soundness, ability to make interest and dividend payments, earnings and cash-flow forecast, and quality of management to create its portfolio. Calamos Convertible Opportunities and Income Fund was formed on April 17, 2002 and is domiciled in the United States.

VALUATION

P/E

5.79 Market Cap ($M USD)

$1.02B

Forward P/E

N/A

PEG

N/A

PRICE TO SALES

7.73 PRICE TO BOOK

1.13 EV / EBITDA

7.36 5-Year Average P/E

Free Cash Flow Yield

1.05%

DCF Value

$13.43

Graham Number

$23.56

Price to FCF

94.82 EV to FCF

131.75 Earnings Yield

17.28%

FCF Yield

1.05%

DIVIDEND

Yield

8.98%

Annual Payout

$1.14

Payout Ratio

46.76%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$2.19

Next Year EPS Growth Estimate

N/A

Next Year Revenue Growth Estimate

N/A

Return on Equity (ROE)

21.46%

FREE CASH FLOW

Operating Margin

145.78%

Debt-to-Equity

0.49 Piotroski F-Score

5 Altman Z-Score

2.52 Return on Invested Capital (ROIC)

14.65%

Current Ratio

0.00 Quick Ratio

0.00 Net Debt to EBITDA

2.06 Interest Coverage

9.35 Gross Profit margin

92.43%

FCF PER SHARE

$0.14

REVENUE PER SHARE

$1.68

Gainseekers Quantitative Analysis

Summary

The market seems to be undervaluing CHI Calamos Convertible Opportunities and Income Fund. Based on the data at the time of this analysis, the stock traded below its DCF Value and Graham Number, suggesting a potential mispricing opportunity. With a robust Earnings Yield of 17.58% and a solid Altman Z-score of 2.46, the company demonstrates financial health and a buffer against distress. However, the absence of a Forward P/E indicates uncertainty in future earnings projections, which could be a concern for growth-focused investors.

AI Exposure / Tech Reliance

Operating within the Asset Management - Income industry, CHI is positioned to leverage AI and tech advancements to enhance portfolio management and client services. The sector's adaptability to tech shifts can improve operational efficiency and customer engagement. However, the company's specific strategies in this area remain unclear from the data provided.

The Bull Case

For value or GARP investors, CHI offers compelling reasons to buy. With a strong ROIC of 14.65%, the company efficiently converts capital into profits, showcasing management's adeptness. The Piotroski F-Score of 5 indicates moderate financial strength, while the impressive Operating Margin of 145.78% underscores its pricing power. Despite a low FCF Yield, the company's ability to maintain a high Return on Equity of 21.46% suggests effective capital allocation.

The Bear Case

Despite its strengths, CHI faces significant structural risks. The Price to FCF ratio of 91.94 and EV to FCF of 128.86 highlight a concerning cash flow situation, suggesting potential overvaluation. Trading close to its 52-week high, the stock appears technically overextended, which could deter cautious investors. Additionally, the lack of scheduled earnings reports and consensus ratings adds an element of uncertainty to its future performance.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

N/A

Average Analyst Price Target

N/A

Institutional Ownership %

1-Year Beta

1.12 Insider Buying % (6 Mo)

Distance to 52-Week High

0.47%

Distance to 52-Week Low

21.20%

EARNINGS SURPRISE %

N/A

50-DAY SMA

$11.81

200-DAY SMA

$11.16

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.