Pioneer High Income Municipal Fund Class Y (HIMYX)

Industry: Asset Management - Income Sector: Financial Services Currency Used: US Live Price: $5.63

Enterprise Value

Metric	MRQ	MRQ-1	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Stock Price	5.77	6.19	6.08	6.41	7.39	7.09	7.36	7.18	7.18	7.33	7.21	7.15	7.41	7.86
Market Capitalization	961.31M	1,031.29M	1,012.96M	1,067.94M	1,231.63M	1,180.40M	1,225.80M	1,196.23M	1,195.39M	1,221.22M	1,200.81M	1,191.64M	900.50M	0.00M
(-) Cash & Equivalents	0.34M	0.34M	0.40M	0.27M	4.08M	5.07M	0.75M	0.99M	1.09M	3.60M	8.41M	12.12M	11.55M	2.00M
(+) Total Debt	108.50M	0.00M	36.17M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Enterprise Value	1,069.47M	1,030.94M	1,048.73M	1,067.67M	1,227.55M	1,175.33M	1,225.05M	1,195.24M	1,194.30M	1,217.62M	1,192.40M	1,179.52M	888.95M	-2.00M

Income Statement

Metric	TTM	TTM-1	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31
Revenue	28M	—	27M	28M	28M	30M	31M	32M	34M	40M	44M	47M	54M
Cost of Revenue	0M	—	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Gross Profit	28M	—	27M	28M	28M	30M	31M	32M	34M	40M	44M	47M	54M
Gross Profit Margin	100.0%	—	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
R&D Expenses	0M	—	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	3M	—	3M	3M	3M	3M	3M	3M	3M	3M	4M	4M	4M
Operating Expenses	7M	—	41M	21M	66M	80M	21M	11M	37M	73M	63M	1M	14M
Operating Income (EBIT)	21M	—	-14M	7M	-39M	-50M	9M	21M	-3M	-33M	-19M	46M	40M
Operating Income Margin	75.9%	—	-51.0%	23.4%	-140.4%	-164.8%	30.4%	65.8%	-9.0%	-83.8%	-43.6%	97.0%	74.4%
Interest Income	6M	—	4M	1M	1M	4M	4M	3M	3M	2M	1M	0M	0M
Interest Expense	0M	—	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	6M	—	4M	1M	1M	4M	4M	3M	3M	2M	1M	0M	0M
Unusual Items	1M	—	-8M	-3M	130M	-8M	-8M	-7M	68M	-4M	-3M	0M	28M
EBT Excluding Unusual Items	27M	—	-10M	8M	-37M	-46M	14M	24M	0M	-31M	-18M	46M	40M
Pre-Tax Income	29M	—	-18M	5M	92M	-54M	5M	17M	68M	-35M	-21M	46M	68M
Pre-Tax Margin	102.3%	—	-65.9%	18.9%	335.5%	-177.8%	16.6%	55.3%	199.3%	-88.6%	-46.8%	96.8%	125.6%
Income Tax Expense	0M	—	0M	0M	0M	0M	0M	0M	0M	0M	0M	3M	18M
Net Income	29M	—	-18M	5M	92M	-54M	5M	17M	68M	-35M	-21M	45M	68M
Net Income Margin	102.3%	—	-65.9%	18.9%	335.5%	-177.8%	16.6%	55.3%	199.3%	-88.6%	-46.8%	96.5%	125.2%
Depreciation & Amortization	0M	—	-24M	-25M	-25M	-28M	-28M	-28M	-31M	-37M	-40M	-43M	-50M
EBITDA	22M	—	-38M	-18M	-63M	-78M	-18M	-7M	-34M	-70M	-60M	3M	-10M
EBITDA Margin	76.8%	—	-141.4%	-65.1%	-230.4%	-255.5%	-60.0%	-23.3%	-100.4%	-175.7%	-135.4%	5.7%	-18.0%
NOPAT	21M	—	-11M	7M	-39M	-40M	9M	21M	-3M	-26M	-15M	43M	30M
NOPAT Margin	75.9%	—	-40.3%	23.4%	-140.4%	-130.2%	30.4%	65.8%	-9.0%	-66.2%	-34.4%	91.4%	54.7%
Owner's Earnings	29M	—	-42M	-20M	68M	-82M	-23M	-11M	37M	-72M	-61M	2M	18M
Owner's Earnings Margin	103.2%	—	-156.3%	-69.6%	245.5%	-268.6%	-73.8%	-33.8%	107.9%	-180.6%	-138.6%	5.3%	32.8%
EPS (Basic)	0.98	—	-0.60	0.18	3.16	-1.85	0.17	0.60	2.33	-1.21	-0.71	1.58	2.39
EPS (Diluted)	0.17	—	-0.11	0.03	0.55	-0.32	0.03	0.10	0.41	-0.21	-0.12	0.27	0.41
Shares (Basic)	167M	—	167M	167M	167M	167M	167M	167M	167M	167M	167M	167M	167M
Shares (Diluted)	167M	—	167M	167M	167M	167M	167M	167M	167M	167M	167M	167M	167M

Balance Sheet

Metric	MRQ	MRQ-1	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31
Cash & Cash Equivalents	0.34M	0.34M	0.50M	0.02M	13.81M	1.82M	0.85M	1.30M	0.85M	2.13M	5.25M	30.79M	5.99M
Short-Term Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.03M	0.41M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	0.34M	0.34M	0.50M	0.02M	13.81M	1.82M	0.88M	1.71M	0.85M	2.13M	5.25M	30.79M	5.99M
Net Receivables	6.17M	6.17M	6.33M	6.75M	7.05M	8.01M	8.83M	7.89M	10.48M	13.89M	12.12M	11.59M	14.67M
Inventory	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.03M	-0.41M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Assets	0.36M	0.36M	1.77M	0.12M	0.00M	1.32M	0.60M	0.75M	2.52M	4.48M	3.14M	0.34M	16.99M
Total Current Assets	6.87M	6.87M	8.60M	6.89M	20.85M	11.15M	10.27M	9.94M	13.85M	20.50M	20.52M	42.72M	37.65M
Property, Plant & Equipment	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Goodwill	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	331.70M	331.70M	322.91M	373.76M	393.66M	302.89M	410.69M	424.60M	430.18M	378.95M	482.23M	527.44M	530.39M
Tax Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	-331.70M	-331.70M	-322.91M	-373.76M	-393.66M	-302.89M	-410.69M	-424.60M	-430.18M	-378.95M	-482.23M	-527.44M	-530.39M
Other Assets	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.11M
Total Non-Current Assets	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.11M
Total Assets	6.88M	6.88M	8.60M	6.89M	20.86M	11.15M	10.28M	9.95M	13.85M	20.50M	20.52M	42.72M	37.77M
Accounts Payable	4.55M	4.55M	0.03M	2.06M	11.18M	1.61M	4.38M	1.55M	4.87M	1.58M	5.37M	11.21M	10.10M
Short-Term Debt	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Payables	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	1.06M	1.06M	2.07M	0.17M	0.47M	0.47M	0.44M	0.58M	0.58M	0.90M	0.42M	1.01M	2.45M
Total Current Liabilities	5.61M	5.61M	2.10M	2.24M	11.65M	2.08M	4.82M	2.13M	5.45M	2.48M	5.79M	12.22M	12.54M
Long-Term Debt	108.50M	108.50M	106.50M	116.50M	123.00M	100.08M	125.00M	125.00M	125.00M	125.00M	151.00M	151.00M	0.00M
Capital Lease Obligations	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	-108.50M	-108.50M	-106.50M	-116.50M	-123.00M	-100.08M	-125.00M	-125.00M	-125.00M	-125.00M	-151.00M	-151.00M	0.00M
Total Non-Current Liabilities	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Liabilities	5.61M	5.61M	2.10M	2.24M	11.65M	2.08M	4.82M	2.13M	5.45M	2.48M	5.79M	12.22M	12.54M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	151.01M
Common Stock	372.93M	372.93M	372.93M	372.97M	371.92M	371.68M	371.74M	373.85M	416.09M	414.90M	413.81M	408.87M	404.80M
Retained Earnings	-148.47M	-148.47M	-150.03M	-111.06M	-92.05M	-159.82M	-82.18M	-66.44M	-103.33M	-143.00M	-69.46M	-1.99M	-0.31M
Accumulated OCI	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	224.47M	224.47M	222.90M	261.91M	279.87M	211.86M	289.56M	307.41M	312.76M	271.90M	344.35M	406.88M	555.51M
Total Equity	224.47M	224.47M	222.90M	261.91M	279.87M	211.86M	289.56M	307.41M	312.76M	271.90M	344.35M	406.88M	555.51M
Total Liabilities & Equity	230.08M	230.08M	225.00M	264.15M	291.52M	213.94M	294.38M	309.54M	318.21M	274.38M	350.14M	419.10M	568.05M
Tangible Assets	6.88M	6.88M	8.60M	6.89M	20.86M	11.15M	10.28M	9.95M	13.85M	20.50M	20.52M	42.72M	37.77M
Tangible Equity	224.47M	224.47M	222.90M	261.91M	279.87M	211.86M	289.56M	307.41M	312.76M	271.90M	344.35M	406.88M	555.51M
Tangible Book Value	224.47M	224.47M	222.90M	261.91M	279.87M	211.86M	289.56M	307.41M	312.76M	271.90M	344.35M	406.88M	555.51M
Total Investments	331.70M	331.70M	322.91M	373.76M	393.66M	302.89M	410.72M	425.01M	430.18M	378.95M	482.23M	527.44M	530.39M
Net Debt	108.16M	108.16M	106.00M	116.48M	109.19M	98.26M	124.15M	123.70M	124.15M	122.87M	145.75M	120.21M	-5.99M

Capital Metrics

Metric	MRQ	MRQ-1	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31
Working Capital	1.3M	1.3M	6.5M	4.6M	9.2M	9.1M	5.5M	7.8M	8.4M	18.0M	14.7M	30.5M	25.1M
Total Capital	333.0M	224.5M	329.4M	261.9M	279.9M	211.9M	289.6M	307.4M	312.8M	271.9M	344.3M	406.9M	555.5M
Capital Employed	333.0M	333.0M	329.4M	378.4M	402.9M	312.0M	416.2M	432.4M	438.6M	397.0M	497.0M	557.9M	555.6M
Invested Capital	332.6M	224.1M	328.9M	261.9M	266.1M	210.0M	288.7M	306.1M	311.9M	269.8M	339.1M	376.1M	549.5M

Cash Flow Statement

Metric	TTM	TTM-1	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31
Net Income	28.78M	-44.64M	-17.74M	5.29M	92.41M	-54.02M	5.09M	17.45M	67.99M	-35.27M	-20.65M	45.56M	68.16M
Depreciation & Amortization	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Income Tax	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	0.35M	0.61M	0.34M	0.00M	0.26M	0.62M	0.28M	-0.39M	2.56M	-0.10M	0.83M	3.08M	0.00M
Accounts Receivable	0.35M	0.61M	0.34M	0.00M	0.26M	0.62M	0.28M	-0.39M	2.56M	-0.10M	0.83M	3.08M	0.00M
Inventory	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Cash Items	-7.25M	87.78M	50.77M	10.67M	-80.27M	106.44M	15.85M	6.85M	-45.39M	95.84M	35.82M	19.34M	-68.16M
Net Cash from Operating Activities	21.87M	43.75M	33.38M	15.96M	12.40M	53.05M	21.22M	23.91M	25.16M	60.47M	16.00M	67.99M	0.00M
Capital Expenditures (PPE)	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Acquisitions (Net)	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Cash from Investing Activities	0.00M	0.00M	0.00M	0.00M	-1.32M	0.00M	0.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-23.40M	-22.59M	-22.96M	-24.32M	-24.41M	-23.68M	-22.95M	-22.80M	-27.13M	-38.88M	-46.21M	-47.24M	0.00M
Common Dividends Paid	-23.40M	-22.59M	-22.96M	-24.32M	-24.41M	-23.68M	-22.95M	-22.80M	-27.13M	-38.88M	-46.21M	-47.24M	0.00M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	1.59M	-22.15M	-9.94M	-5.43M	24.00M	-27.63M	1.60M	-0.75M	0.75M	-25.64M	5.67M	4.06M	0.00M
Net Cash from Financing Activities	-21.81M	-44.74M	-32.90M	-29.75M	-0.41M	-51.31M	-21.35M	-23.55M	-26.38M	-64.52M	-40.54M	-43.18M	0.00M
Effect of FX on Cash	0.00M	0.02M	0.00M	0.00M	0.00M	0.01M	-0.10M	0.09M	-0.05M	0.93M	-1.00M	0.00M	0.00M
Net Change in Cash	0.06M	-0.97M	0.48M	-13.79M	10.67M	1.74M	0.09M	0.45M	-1.28M	-3.13M	-25.54M	24.80M	0.00M
Cash at Beginning of Period	0.00M	0.00M	0.02M	13.81M	3.14M	1.40M	1.30M	0.85M	2.13M	5.25M	30.79M	5.99M	0.00M
Cash at End of Period	0.06M	-0.97M	0.50M	0.02M	13.81M	3.14M	1.40M	1.30M	0.85M	2.13M	5.25M	30.79M	0.00M
Operating Cash Flow	21.87M	43.75M	33.38M	15.96M	12.40M	53.05M	21.22M	23.91M	25.16M	60.47M	16.00M	67.99M	0.00M
Capital Expenditure	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Free Cash Flow	21.87M	43.75M	33.38M	15.96M	12.40M	53.05M	21.22M	23.91M	25.16M	60.47M	16.00M	67.99M	0.00M

Free Cash Flow

Metric	TTM	TTM-1	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31
EBITDA	25.81M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
(-) Tax Adjustment	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
(-) Change In Working Capital	0.35M	—	0.34M	0.00M	0.26M	0.62M	0.28M	-0.39M	2.56M	-0.10M	0.83M	3.08M	0.00M
(-) Capital Expenditure	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Unlevered Free Cash Flow	25.47M	—	-0.34M	0.00M	-0.26M	-0.62M	-0.28M	0.39M	-2.56M	0.10M	-0.83M	-3.08M	0.00M
(-) Net Interest Income After Taxes	6.11M	—	4.02M	1.27M	1.37M	3.96M	4.21M	3.31M	3.31M	1.94M	1.43M	0.07M	0.00M
Net Debt Issuance	0.00M	—	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Levered Free Cash Flow	19.35M	—	-4.36M	-1.27M	-1.62M	-4.58M	-4.50M	-2.92M	-5.87M	-1.84M	-2.26M	-3.15M	0.00M