Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Pioneer High Income Municipal Fund Class Y (HIMYX)

Company Dividend Discount ModelIndustry: Asset Management - IncomeSector: Financial Services

Valuation Snapshot

Stable Growth$1.22 - $1.76$1.48
Multi-Stage$2.12 - $2.32$2.22
Blended Fair Value$1.85
Current Price$5.77
Upside-67.90%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS0.14%0.00%0.140.150.150.140.140.140.160.230.280.28
YoY Growth---5.58%-0.37%3.09%3.18%0.64%-15.97%-30.21%-15.87%-2.18%0.00%
Dividend Yield--2.23%2.25%1.97%2.01%1.88%1.90%2.27%3.11%3.90%3.98%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)28.78
(-) Cash Dividends Paid (M)23.40
(=) Cash Retained (M)5.38
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)5.763.602.16
Cash Retained (M)5.385.385.38
(-) Cash Required (M)-5.76-3.60-2.16
(=) Excess Retained (M)-0.381.783.22
(/) Shares Outstanding (M)166.61166.61166.61
(=) Excess Retained per Share0.000.010.02
LTM Dividend per Share0.140.140.14
(+) Excess Retained per Share0.000.010.02
(=) Adjusted Dividend0.140.150.16
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$1.22$1.48$1.76
Upside / Downside-78.85%-74.32%-69.56%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)28.7828.4928.2127.9327.6527.3728.19
Payout Ratio81.31%83.05%84.78%86.52%88.26%90.00%92.50%
Projected Dividends (M)23.4023.6623.9224.1624.4024.6326.08

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)21.4721.6921.91
Year 2 PV (M)19.6920.0920.50
Year 3 PV (M)18.0518.6119.18
Year 4 PV (M)16.5417.2217.93
Year 5 PV (M)15.1515.9416.76
PV of Terminal Value (M)262.98276.68290.94
Equity Value (M)353.88370.23387.21
Shares Outstanding (M)166.61166.61166.61
Fair Value$2.12$2.22$2.32
Upside / Downside-63.19%-61.49%-59.72%

High-Yield Dividend Screener

« Prev Page 22 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
0K58.LNOV Inc.1.29%$0.2015.83%
CONConcentra Group Holdings Parent, Inc.1.29%$0.2520.88%
CSGSCSG Systems International, Inc.1.28%$0.9832.90%
CSLCarlisle Companies Incorporated1.28%$4.2023.23%
JKHYJack Henry & Associates, Inc.1.28%$2.2934.69%
MSAMSA Safety Incorporated1.28%$2.0829.19%
PAHCPhibro Animal Health Corporation1.28%$0.4828.68%
WMGWarner Music Group Corp.1.28%$0.3961.67%
0K4C.LNRG Energy, Inc.1.27%$2.1028.38%
DCIDonaldson Company, Inc.1.27%$1.1435.14%
TEXTerex Corporation1.27%$0.7029.49%
BCCBoise Cascade Company1.26%$0.9318.09%
BCMLBayCom Corp1.25%$0.3616.94%
MSCIMSCI Inc.1.25%$7.0744.68%
PRMWPrimo Water Corporation1.25%$0.3561.28%
ESIElement Solutions Inc1.24%$0.3232.50%
LECOLincoln Electric Holdings, Inc.1.23%$3.0031.76%
MCRIMonarch Casino & Resort, Inc.1.23%$1.1826.69%
PBI-PBPitney Bowes Inc. NT 431.23%$0.2561.37%
RJFRaymond James Financial, Inc.1.23%$2.0119.48%
WFRDWeatherford International plc1.23%$1.0017.78%
AMPAmeriprise Financial, Inc.1.22%$6.0416.30%
BRCBrady Corporation1.22%$0.9623.25%
GCBCGreene County Bancorp, Inc.1.21%$0.2613.26%
RICKRCI Hospitality Holdings, Inc.1.21%$0.2815.00%
ABCAmerisourceBergen Corporation1.20%$2.2528.12%
EQBKEquity Bancshares, Inc.1.20%$0.5458.24%
HMNFHMN Financial, Inc.1.20%$0.3428.27%
IBPInstalled Building Products, Inc.1.20%$3.2234.18%
CHHChoice Hotels International, Inc.1.19%$1.1513.93%
EQCEquity Commonwealth1.19%$0.028.60%
FLSFlowserve Corporation1.19%$0.8424.35%
ICEIntercontinental Exchange, Inc.1.19%$1.9033.71%
LNNLindsay Corporation1.19%$1.4421.27%
INGMIngram Micro Holding Corporation1.18%$0.2520.42%
RBARB Global, Inc.1.18%$1.2252.13%
SEICSEI Investments Company1.18%$0.9817.66%
HEESH&E Equipment Services, Inc.1.17%$1.1144.29%
WSFSWSFS Financial Corporation1.17%$0.6413.17%
ASTEAstec Industries, Inc.1.16%$0.5224.84%
GFGDThe Growth for Good Acquisition Corporation1.16%$0.1242.35%
HUBGHub Group, Inc.1.16%$0.5028.58%
NWSNews Corporation1.16%$0.3516.79%
FCXFreeport-McMoRan Inc.1.15%$0.6041.87%
GFFGriffon Corporation1.15%$0.8677.66%
LHLabcorp Holdings Inc.1.15%$2.8928.24%
YAFIXAMG Funds - AMG Yacktman Focused Fund1.15%$0.2227.84%
0L1G.LSS&C Technologies Holdings, Inc.1.14%$0.9929.41%
0M29.LXylem Inc.1.14%$1.5640.08%
DHID.R. Horton, Inc.1.14%$1.6613.80%