Stock fact sheet · data as of
Invesco Quality Municipal Income Trust (IQI): fair value, margin of safety and Wheel Score
Ticker symbol IQI · Financial Services · Asset Management - Income · United States · Fund / Note
Is IQI undervalued?
IQI closed at 9.12 on 5 Nov 2026, which is 13% above the GLS average fair value of 8.09 from 9 models. 7 of them value the shares below today's price. Our scans read that as "no margin of safety": the stock is not a value candidate at this price, whatever the quality numbers say.
There is a wide gap between DCF (2.49) and Graham Growth (19.38). 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.
IQI looks like a fund, note or preferred share rather than an operating company, so the nightly engine files it under Fund / Note: the valuation models are not built for it, and its Wheel Score is capped at 45.
Nine valuation models for IQI
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 | 2.49 | -73% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 8.89 | -2% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 19.38 | +112% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 8.47 | -7% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 2.74 | -70% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 7.45 | -18% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 8.47 | -7% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 11.14 | +22% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 3.76 | -59% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -5.22 | -157% | 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 Quality 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 "Piotroski 6 or more" Wheel Trade Filter with room to spare. There is no GLS Moat score for IQI: funds, notes and second share lines get none, and so does a company with fewer than two years of accounts on file. The Moat part of the Wheel Score is zero.
Returns on capital are thin or negative - ROIC 2.2%, ROE 3.3%, ROA 2.2% - with debt at 0.50 times equity and a free-cash-flow yield of 4.1%.
The dividend yield is high at 8.30% (payout ratio 140%) - 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 3/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 2.2% |
|---|---|---|---|
| GLS Moat | - / 10 | ROE | 3.3% |
| Debt / equity | 0.50 | ROA | 2.2% |
| Free-cash-flow yield | 4.1% | Payout ratio | 140% |
| Institutions | 3 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 15: No options
No options are listed on Invesco Quality Municipal Income Trust in our nightly snapshot, so it fails the first Wheel Trade Filter (options that actually trade) (it reads 15, under 70) and is left out of every options scan; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 196k shares a day on a market cap of $482M, with a beta of 0.77 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Fails | a fund or note, not a company |
| 3 | Below fair value | Fails | trades 13% above our fair value |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Fails | market cap $482M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 13% above fair value | |
| Premium | Weak | no option data | |
| Moat | Weak | no moat score | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Fair | beta 0.77, $482M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for IQI in the nightly calendar. The shares go ex-dividend on 16 Nov 2026 (0.0631 per share), so a covered call sold before then carries a small early-assignment risk around that date.
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 Quality 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 |
|---|---|---|---|---|---|
| AVK Advent Convertible and Income Fund | 10.81 | 68.35 | +84% | 26No options | $477M |
| CHW Calamos Global Dynamic Income Fund | 7.69 | 79.20 | +90% | 24No options | $491M |
| FOHFX Fidelity Ohio Municipal Income Fund | 11.30 | 4.96 | -128% | 11No options | $491M |
| WIW Western Asset Inflation-Linked Opportunities & Income Fund | 8.03 | 10.99 | +27% | 25No options | $491M |
| PCQ PIMCO California Municipal Income Fund | 8.25 | 34.70 | +76% | 23No options | $463M |
| BLW BlackRock Limited Duration Income Trust | 11.81 | 35.29 | +67% | 33No options | $462M |
| VCV Invesco California Value Municipal Income Trust | 9.48 | 8.16 | -16% | 14No options | $460M |
| ETB Eaton Vance Tax-Managed Buy-Write Income Fund | 15.26 | 58.22 | +74% | 25No options | $448M |
| HIMYX Victory High Income Municipal Fund - Class Y | 5.31 | 3.68 | -44% | 11No options | $520M |
| FFA First Trust Enhanced Equity Income Fund | 22.31 | 116.50 | +81% | 25No options | $446M |
| VVR Invesco Senior Income Trust | 2.86 | 4.11 | +30% | 32No options | $440M |
| IIM Invesco Value Municipal Income Trust | 11.31 | 10.12 | -12% | 16No options | $532M |
⚖ Compare IQI with 7 of them All Financial Services stocks →
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about IQI
Is IQI undervalued right now?
No: at 9.12 the stock trades 13% above the GLS average fair value of 8.09 (data as of 5 Nov 2026). The margin of safety is negative.
What is the Wheel Score of IQI and what does it mean?
IQI has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for IQI?
8.09 per share as of 5 Nov 2026 - the simple average of the 9 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 Quality Municipal Income Trust report earnings next?
No upcoming earnings date is recorded for IQI in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does IQI have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on IQI, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.