Nuveen New York AMT-Free Quality Municipal Income Fund (NRK): fair value, margin of safety and Wheel Score

Is NRK undervalued?

NRK closed at 9.34 on 16 Oct 2026, which is 20% above the GLS average fair value of 7.80 from 2 models. 1 of them value the shares below today's price. Our screens read that as "no margin of safety": the stock is not a value candidate at this price, whatever the quality numbers say.

The average is built from just 2 models (10 Cap, DDM) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.

The nightly engine files NRK 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 NRK

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.

Quality and financial health

Nuveen New York AMT-Free Quality Municipal Income Fund scores only 4 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 2.6/10 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 -4.9%, ROE -8.6%, ROA -4.9% - with debt at 0.75 times equity and a free-cash-flow yield of 2.0%.

The dividend yield is high at 8.68% (payout ratio -47%). 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.

Wheel Score 29: No options

No options are listed on Nuveen New York AMT-Free Quality Municipal Income Fund in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 29) 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 517k shares a day on a market cap of $815M, with a beta of 0.66 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 12 of 20.

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 NRK in the nightly calendar.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

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