Stock fact sheet · data as of
NYLI MacKay Convertible Fund;I (MCNVX): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · Speculative / Distressed
Is MCNVX undervalued?
NYLI MacKay Convertible Fund;I (MCNVX) closed at 22.56 on 16 Oct 2026. The GLS average fair value - the simple average of the 2 valuation models that produced a positive number - is 25.11, so the price sits 10% below it. 2 of the 2 models value the shares above the current price. A margin of safety between 10% and 30% is where most of the Sunday Scan candidates come from.
Only 2 of the nine models produced a value (10 Cap, DDM); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files MCNVX under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for MCNVX
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 | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | 24.62 | +9% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 25.60 | +13% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -3.07 | -114% | 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
Financial health is average - MCNVX passes 6 of the nine Piotroski tests, which passes the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 3.3 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are thin or negative - ROIC -1.1%, ROE -1.8%, ROA -1.1% - with debt at 0.55 times equity and a free-cash-flow yield of 5.3%.
The dividend yield is high at 7.71% (payout ratio -328%). 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 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | -1.1% |
|---|---|---|---|
| GLS Moat | 3.3 / 10 | ROE | -1.8% |
| Debt / equity | 0.55 | ROA | -1.1% |
| Free-cash-flow yield | 5.3% | Payout ratio | -328% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 39: No options
MCNVX has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business; the Wheel Score is capped at 39 and shown as "No options" (39 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at - a day on a market cap of $1.8B, with a beta of 0.91; the Stability part of the Wheel Score gives that 9 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 17 / 25 | 10% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 5 / 15 | moat 3.3/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 9 / 20 | 0k shares/day, $1.8B cap, beta 0.91 |
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 MCNVX in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
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| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| TWMIX American Century Emerging Markets Investor Class | 17.86 | 6.61 | -170% | 23No options | $1.8B |
| USA Liberty All-Star Equity Fund | 5.87 | 7.61 | +23% | 39No options | $1.8B |
| MHD BlackRock MuniHoldings Fund, Inc. | 10.34 | 8.71 | -19% | 39No options | $1.8B |
| FDVAX Fidelity Advisor Diversified Intl A | 30.30 | 31.81 | +5% | 39No options | $1.8B |
| GOF Guggenheim Strategic Opportunities Fund | 8.60 | 35.85 | +76% | 39No options | $1.8B |
| AHLPX American Beacon AHL Managed Futures Strategy Fund - Investor Class | 10.78 | 7.10 | -52% | 29No options | $1.8B |
| TY Tri-Continental Corporation | 34.50 | 156.43 | +78% | 39No options | $1.8B |
| AMKIX American Century Emerging Markets Fund - I Class | 18.22 | 2.93 | -522% | 14No options | $1.8B |
| AEDMX American Century Emerging Markets Fund | 18.24 | 3.25 | -461% | 19No options | $1.8B |
| CLM Cornerstone Strategic Value Fund, Inc. | 6.27 | 29.56 | +79% | 39No options | $1.8B |
| AHIVX American Century High Income Fund - Investor Class | 8.31 | 8.30 | -0% | 36No options | $1.8B |
| PTOAX PIMCO StocksPLUS Absolute Return Fund Class A | 12.97 | 6.80 | -91% | 20No options | $1.8B |
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Start free See the Sunday ScanQuestions about MCNVX
Is MCNVX undervalued right now?
By the GLS models, moderately: at 22.56 the stock trades 10% below the average fair value of 25.11 (data as of 16 Oct 2026).
What is the Wheel Score of MCNVX and what does it mean?
MCNVX 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 MCNVX?
25.11 per share as of 16 Oct 2026 - the simple average of the 2 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 NYLI MacKay Convertible Fund;I report earnings next?
No upcoming earnings date is recorded for MCNVX in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does MCNVX have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on MCNVX, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.