Stock fact sheet · data as of
Nuveen Municipal Income Fund, Inc. (NMI): fair value, margin of safety and Wheel Score
Financial Services · Asset Management - Income · United States · High Yield Income
Is NMI undervalued?
At 9.34 (close of 16 Oct 2026), NMI trades 17% under the GLS average fair value of 11.21. 3 of the 7 models that produced a value land above the price. A discount of this size counts as a positive margin of safety in every GLS screen; whether it is enough depends on the rest of the picture - the health score, the moat and the option premium below.
The 7 models disagree widely: DCF gives 5.61 while Graham Growth gives 29.54. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files NMI under High Yield Income: a dividend yield above 4%.
Nine valuation models for NMI
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 | 5.61 | -40% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 10.71 | +15% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 29.54 | +216% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 12.91 | +38% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 7.23 | -23% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 6.71 | -28% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 5.74 | -39% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 0.1729 | -98% | 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 weak: NMI passes 4 of the nine Piotroski tests. Our screens drop the stock at the health rule; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 2.4 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 2.7%, ROE 2.7%, ROA 2.7% - with debt at 0.00 times equity and negative free cash flow.
The dividend yield is high at 4.88% (payout ratio 0%). 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 | 4 / 9 | ROIC | 2.7% |
|---|---|---|---|
| GLS Moat | 2.4 / 10 | ROE | 2.7% |
| Debt / equity | 0.00 | ROA | 2.7% |
| Free-cash-flow yield | 0.0% | Payout ratio | 0% |
| Institutions | 2 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 38: No options
NMI 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" (38 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 54k shares a day on a market cap of $113M, with a beta of 0.33 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 6 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 19 / 25 | 17% margin of safety | |
| Health | 9 / 20 | Piotroski 4/9 | |
| Moat | 4 / 15 | moat 2.4/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 6 / 20 | 54k shares/day, $113M cap, beta 0.33 |
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 NMI 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 Nuveen Municipal Income Fund, Inc. 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 |
|---|---|---|---|---|---|
| RMMZ RiverNorth Managed Duration Municipal Income Fund II, Inc. | 13.30 | 22.66 | +41% | 34No options | $112M |
| DELNX DoubleLine Low Duration Emerging Markets Fixed Income Fund Class N | 9.54 | 111.15 | +91% | 39No options | $114M |
| BWG BrandywineGLOBAL Global Income Opportunities Fund Inc. | 6.97 | 24.65 | +72% | 39No options | $117M |
| PAI Western Asset Investment Grade Income Fund Inc. | 11.28 | 12.03 | +6% | 33No options | $107M |
| ETAZX Eaton Vance AZ Municipal Income A | 8.52 | 52.54 | +84% | 39No options | $121M |
| NMT Nuveen Massachusetts Quality Municipal Income Fund | 10.12 | 23.61 | +57% | 39No options | $104M |
| CIK UBS Asset Management Income Fund Inc. | 2.29 | 1.88 | -22% | 27No options | $126M |
| HCYAX Hilton Tactical Income Fund | 18.34 | 17.36 | -6% | 30No options | $128M |
| ETGAX Eaton Vance GA Municipal Income A | 7.71 | 44.18 | +83% | 39No options | $131M |
| ASIEX American Century Multisector Income Fund;Inv | 8.61 | 10.05 | +14% | 39No options | $95M |
| PFD Flaherty & Crumrine Preferred Income Fund Inc. | 10.45 | 29.50 | +65% | 39No options | $134M |
| PCF High Income Securities Fund | 5.05 | 18.07 | +72% | 39No options | $95M |
⚖ Compare NMI with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about NMI
Is NMI undervalued right now?
By the GLS models, moderately: at 9.34 the stock trades 17% below the average fair value of 11.21 (data as of 16 Oct 2026).
What is the Wheel Score of NMI and what does it mean?
NMI 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 NMI?
11.21 per share as of 16 Oct 2026 - the simple average of the 7 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 Nuveen Municipal Income Fund, Inc. report earnings next?
No upcoming earnings date is recorded for NMI in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does NMI have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on NMI, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.