(BFK) BlackRock Municipal Income - Overview
Stock: Municipal Bonds, Tax-Exempt, Fixed Income, Investment Grade
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 6.58% |
| Yield on Cost 5y | 5.54% |
| Yield CAGR 5y | -4.05% |
| Payout Consistency | 94.2% |
| Payout Ratio | 300.0% |
| Risk 5d forecast | |
|---|---|
| Volatility | 8.31% |
| Relative Tail Risk | -5.07% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.10 |
| Alpha | -2.06 |
| Character TTM | |
|---|---|
| Beta | 0.232 |
| Beta Downside | 0.253 |
| Drawdowns 3y | |
|---|---|
| Max DD | 15.55% |
| CAGR/Max DD | 0.29 |
Description: BFK BlackRock Municipal Income December 28, 2025
BlackRock Municipal Income Trust (NYSE: BFK) is a closed-ended, fixed-income mutual fund launched on July 31 2001 and domiciled in the United States. Managed by BlackRock Advisors, LLC, the fund’s mandate is to invest primarily in investment-grade municipal bonds whose interest is exempt from regular federal income tax.
As of the most recent quarterly filing (Q3 2024), BFK reported approximately $4.2 billion in assets under management, a weighted-average credit rating of A- (Moody’s) and an effective duration of 5.8 years, positioning it to benefit from a moderately rising rate environment while preserving capital. Key drivers of performance include the health of state and local government budgets, federal tax policy (particularly any changes to the tax-exempt status of muni interest), and the supply pipeline of new municipal issuances, which has been constrained by fiscal pressures in several large jurisdictions.
Investors seeking a tax-efficient income stream should monitor the fund’s net asset-adjusted yield-currently around 3.2 %-and compare it against the broader muni market’s yield-to-worst to gauge relative value. For a deeper, data-driven analysis of BFK’s risk-adjusted returns and how they fit within a diversified portfolio, you might explore the analytics platform ValueRay for additional insights.
Piotroski VR‑10 (Strict, 0-10) 2.5
| Net Income: -18.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -14.68 > 1.0 |
| NWC/Revenue: -14.45% < 20% (prev -49.58%; Δ 35.13% < -1%) |
| CFO/TA -0.03 > 3% & CFO -22.6m > Net Income -18.9m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.75 > 1.5 & < 3 |
| Outstanding Shares: last quarter (43.9m) vs 12m ago 0.0% < -2% |
| Gross Margin: 86.01% > 18% (prev 0.65%; Δ 8536 % > 0.5%) |
| Asset Turnover: 4.60% > 50% (prev 4.52%; Δ 0.08% > 0%) |
| Interest Coverage Ratio: 11.19 > 6 (EBITDA TTM -7.88m / Interest Expense TTM 2.82m) |
Altman Z'' 1.18
| A: -0.01 (Total Current Assets 15.9m - Total Current Liabilities 21.2m) / Total Assets 793.8m |
| B: -0.14 (Retained Earnings -112.3m / Total Assets 793.8m) |
| C: 0.04 (EBIT TTM 31.5m / Avg Total Assets 790.8m) |
| D: 1.35 (Book Value of Equity 455.9m / Total Liabilities 337.8m) |
| Altman-Z'' Score: 1.18 = BB |
What is the price of BFK shares?
Over the past week, the price has changed by -0.29%, over one month by +2.11%, over three months by +2.93% and over the past year by +4.72%.
Is BFK a buy, sell or hold?
- StrongBuy: 0
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the BFK price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 11 | 9% |
BFK Fundamental Data Overview February 02, 2026
P/B = 0.9739
Revenue TTM = 36.4m USD
EBIT TTM = 31.5m USD
EBITDA TTM = -7.88m USD
Long Term Debt = unknown (none)
Short Term Debt = 3690 USD (from shortTermDebt, last fiscal year)
Debt = 316.6m USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -141.0k USD (from netDebt column, last quarter)
Enterprise Value = 762.5m USD (446.0m + Debt 316.6m - CCE 141.0k)
Interest Coverage Ratio = 11.19 (Ebit TTM 31.5m / Interest Expense TTM 2.82m)
EV/FCF = -33.73x (Enterprise Value 762.5m / FCF TTM -22.6m)
FCF Yield = -2.96% (FCF TTM -22.6m / Enterprise Value 762.5m)
FCF Margin = -62.14% (FCF TTM -22.6m / Revenue TTM 36.4m)
Net Margin = -52.05% (Net Income TTM -18.9m / Revenue TTM 36.4m)
Gross Margin = 86.01% ((Revenue TTM 36.4m - Cost of Revenue TTM 5.09m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 100.0%)
Tobins Q-Ratio = 0.96 (Enterprise Value 762.5m / Total Assets 793.8m)
Interest Expense / Debt = 0.89% (Interest Expense 2.82m / Debt 316.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = 24.9m (EBIT 31.5m * (1 - 21.00%))
Current Ratio = 0.75 (Total Current Assets 15.9m / Total Current Liabilities 21.2m)
Debt / Equity = 0.69 (Debt 316.6m / totalStockholderEquity, last quarter 455.9m)
Debt / EBITDA = 0.02 (negative EBITDA) (Net Debt -141.0k / EBITDA -7.88m)
Debt / FCF = 0.01 (negative FCF - burning cash) (Net Debt -141.0k / FCF TTM -22.6m)
Total Stockholder Equity = 472.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -2.39% (Net Income -18.9m / Total Assets 793.8m)
RoE = -4.01% (Net Income TTM -18.9m / Total Stockholder Equity 472.8m)
RoCE = 4.08% (EBIT 31.5m / Capital Employed (Total Assets 793.8m - Current Liab 21.2m))
RoIC = 3.89% (NOPAT 24.9m / Invested Capital 639.1m)
WACC = 4.25% (E(446.0m)/V(762.7m) * Re(6.77%) + D(316.6m)/V(762.7m) * Rd(0.89%) * (1-Tc(0.21)))
Discount Rate = 6.77% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 0.0 | Cagr: 0.0%
Fair Price DCF = unknown (Cash Flow -22.6m)
EPS Correlation: -46.13 | EPS CAGR: -22.28% | SUE: -0.51 | # QB: 0
Revenue Correlation: -24.13 | Revenue CAGR: -1.28% | SUE: N/A | # QB: 0