Stock fact sheet · data as of
Invesco Value Municipal Income Trust (IIM): fair value, margin of safety and Wheel Score
Financial Services · Asset Management - Income · United States · High Yield Income
Is IIM undervalued?
Invesco Value Municipal Income Trust (IIM) closed at 10.84 on 16 Oct 2026, close to the GLS average fair value of 10.13 (7.0% above fair value). 2 of the 8 models that produced a number sit above the price, 6 below - the market and our models roughly agree. With little margin of safety either way, the case for or against the stock rests on the quality numbers and the option premium rather than on price.
There is a wide gap between GLS Growth (2.18) and Graham Growth (22.62). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files IIM under High Yield Income: a dividend yield above 4%.
Nine valuation models for IIM
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 10.61 | -2% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 22.62 | +109% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 9.89 | -9% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 2.18 | -80% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 8.64 | -20% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 9.12 | -16% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 13.61 | +26% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 4.39 | -59% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -6.45 | -160% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Invesco Value Municipal Income Trust scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 2.7/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 2.1%, ROE 3.1%, ROA 2.1% - with debt at 0.51 times equity and a free-cash-flow yield of 4.0%.
The dividend yield is high at 8.54% (payout ratio 233%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 2/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 2.1% |
|---|---|---|---|
| GLS Moat | 2.7 / 10 | ROE | 3.1% |
| Debt / equity | 0.51 | ROA | 2.1% |
| Free-cash-flow yield | 4.0% | Payout ratio | 233% |
| Institutions | 2 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 37: No options
No options are listed on Invesco Value Municipal Income Trust in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 37) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 130k shares a day on a market cap of $510M, with a beta of 0.79 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 8 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 10 / 25 | -7% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 4 / 15 | moat 2.7/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 8 / 20 | 130k shares/day, $510M cap, beta 0.79 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for IIM in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management - Income
The 12 companies below are the closest to Invesco Value Municipal Income Trust by market cap within the Asset Management - Income industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CHW Calamos Global Dynamic Income Fund | 7.96 | 79.20 | +90% | 39No options | $508M |
| HIMYX Victory High Income Municipal Fund - Class Y | 5.16 | 3.68 | -40% | 21No options | $523M |
| FOHFX Fidelity Ohio Municipal Income Fund | 11.06 | 4.92 | -125% | 20No options | $494M |
| AVK Advent Convertible and Income Fund | 11.14 | 68.04 | +84% | 39No options | $492M |
| FAX Abrdn Asia-Pacific Income Fund Inc | 12.83 | 26.93 | +52% | 39No options | $530M |
| WIW Western Asset Inflation-Linked Opportunities & Income Fund | 7.87 | 10.96 | +28% | 39No options | $482M |
| LDP Cohen & Steers Limited Duration Preferred and Income Fund, Inc. | 18.98 | 44.01 | +57% | 39No options | $552M |
| IQI Invesco Quality Municipal Income Trust | 8.89 | 8.08 | -10% | 35No options | $470M |
| NML Neuberger Energy Infrastructure and Income Fund Inc. | 9.86 | 18.18 | +46% | 39No options | $559M |
| IGR CBRE Global Real Estate Income Fund | 11.21 | 17.76 | +37% | 39No options | $567M |
| BLW BlackRock Limited Duration Income Trust | 11.65 | 35.26 | +67% | 39No options | $456M |
| FFA First Trust Enhanced Equity Income Fund | 22.44 | 116.49 | +81% | 39No options | $449M |
⚖ Compare IIM with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about IIM
Is IIM undervalued right now?
Not meaningfully: at 10.84 the stock trades within a few percent of the GLS average fair value of 10.13 (7.0% above fair value, data as of 16 Oct 2026).
What is the Wheel Score of IIM and what does it mean?
IIM has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for IIM?
10.13 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Invesco Value Municipal Income Trust report earnings next?
No upcoming earnings date is recorded for IIM in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does IIM have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on IIM, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.