NAC

Nuveen California Quality Municipal Income Fund

Fundamental data last updated:August 24, 2026

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company profile

SECTOR

Financial Services

industry

Asset Management - Income

Exchange

NYSE

County of HQ

FR

Next Earnings Date

Not Scheduled

Business Summary

Nuveen California Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of California, United States. The fund invests in undervalued municipal securities and other related investments that are exempt from regular federal and California income taxes. It primarily invests in securities that are rated Baa or BBB or better by Moody's Investors Service, Inc. or Standard & Poor's, and have an average maturity of 20.96 years. The fund employs fundamental analysis with a bottom-up approach to create its portfolio. It benchmarks the performance of its portfolio against the Standard & Poor's (S&P) California Municipal Bond Index and Standard & Poor's (S&P) National Municipal Bond Index. The fund was formerly known as Nuveen California Dividend Advantage Municipal Fund. Nuveen California Quality Municipal Income Fund was formed on December 1, 1998 and is domiciled in the United States.

 


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VALUATION

P/E

-14.78

Market Cap ($M USD)

$1.86B

Forward P/E

N/A

PEG

N/A

PRICE TO SALES

15.05

PRICE TO BOOK

1.08

EV / EBITDA

-43.79

5-Year Average P/E

Free Cash Flow Yield

2.11%

DCF Value

$-15.26

Graham Number

N/A

Price to FCF

47.34

EV to FCF

78.17

Earnings Yield

-6.77%

FCF Yield

2.11%

DIVIDEND

Yield

7.36%

Annual Payout

$0.88

Payout Ratio

-53.94%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

-$0.81

Next Year EPS Growth Estimate

N/A

Next Year Revenue Growth Estimate

N/A

Return on Equity (ROE)

-7.34%

FREE CASH FLOW

Operating Margin

-56.74%

Debt-to-Equity

0.75

Piotroski F-Score

4

Altman Z-Score

0.93

Return on Invested Capital (ROIC)

-2.48%

Current Ratio

1.92

Quick Ratio

1.92

Net Debt to EBITDA

-17.27

Interest Coverage

-1.46

Gross Profit margin

86.22%

FCF PER SHARE

$0.27

REVENUE PER SHARE

$0.85

Analyze NAC on TradingView

Gainseekers Quantitative Analysis

Summary

The market’s current valuation of NAC Nuveen California Quality Municipal Income Fund appears to be a stark mispricing relative to its DCF Value, which is notably negative. With a Price/Earnings ratio of -14.77 and an Earnings Yield of -6.77%, the financial health of this fund is questionable. The Altman Z-score of 0.94 signals distress, suggesting potential financial instability. The absence of a Forward P/E and a negative ROIC further underscores the lack of growth prospects and operational efficiency. Overall, the metrics paint a picture of a fund struggling to maintain financial health and investor confidence.

AI Exposure / Tech Reliance

As an asset management entity, NAC is inherently less exposed to direct AI and tech disruptions compared to tech-centric industries. However, the fund's ability to leverage AI for optimizing asset allocation and risk management could enhance its operational efficiency. Its resilience will depend on how effectively it integrates modern tech tools to improve client services and investment strategies.

The Bull Case

For the value or GARP investor, NAC presents a compelling case with its 7.36% TTM yield, which offers a steady income stream. The Piotroski F-Score of 4 indicates moderate financial health, while a Current Ratio of 1.92 suggests decent liquidity. Despite negative margins, the fund's ability to generate free cash flow, albeit modest, provides a cushion for dividend payouts. These factors might appeal to investors seeking income stability amidst market volatility.

The Bear Case

The bear case for NAC is glaring, with its Price/Sales ratio at a lofty 15.03, indicating overvaluation. The fund's negative operating margin of -56.74% and a Price to FCF of 47.30 highlight inefficiencies and poor cash flow generation. Trading close to its 52-week high, the stock appears technically overextended, raising concerns about its sustainability at these levels. These structural weaknesses could deter investors wary of high valuation multiples and lackluster financial performance.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Sell

Average Analyst Price Target

N/A

Institutional Ownership %

1-Year Beta

0.56

Insider Buying % (6 Mo)

Distance to 52-Week High

2.17%

Distance to 52-Week Low

9.59%

EARNINGS SURPRISE %

N/A

50-DAY SMA

$11.79

200-DAY SMA

$11.75

⚠️ 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.