Stock fact sheet · data as of
T. Rowe Price Tax Free Income Fund I Class (TFILX): fair value, margin of safety and Wheel Score
Financial Services · Asset Management - Income · United States · High Yield Income
Is TFILX undervalued?
TFILX closed at 8.84 on 16 Oct 2026, more than 30% above the GLS average fair value of 4.40. Only 0 of the 2 models that produced a value sit above the price. By our models the shares are priced well beyond what the filed earnings, cash flow and book value support; the Sunday Scan drops names like this at the "below fair value" rule.
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 TFILX under High Yield Income: a dividend yield above 4%.
Nine valuation models for TFILX
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 | 3.47 | -61% | 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 | 5.33 | -40% | 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) | 0.0050 | -100% | 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
T. Rowe Price Tax Free Income Fund I Class scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. On durability TFILX scores 5.6/10 on the GLS Moat - a middle reading; the Scorecard on the Quote page's Financials tab shows which ten-year lines are steady and which are not.
Returns on capital are thin or negative - ROIC 3.7%, ROE 3.7%, ROA 3.7% - with debt at 0.00 times equity and a free-cash-flow yield of 2.0%.
The dividend yield is high at 4.10% (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 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 3.7% |
|---|---|---|---|
| GLS Moat | 5.6 / 10 | ROE | 3.7% |
| Debt / equity | 0.00 | ROA | 3.7% |
| Free-cash-flow yield | 2.0% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 31: No options
No options are listed on T. Rowe Price Tax Free Income Fund I Class in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 31) 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 - a day on a market cap of $2.2B, with a beta of 1.06; the Stability part of the Wheel Score gives that 9 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -101% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 8 / 15 | moat 5.6/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 9 / 20 | 0k shares/day, $2.2B cap, beta 1.06 |
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 TFILX 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 T. Rowe Price Tax Free Income Fund I Class 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 |
|---|---|---|---|---|---|
| PRTAX T. Rowe Price Tax-Free Income Fd | 8.84 | 1.25 | -605% | 31No options | $2.2B |
| ETY Eaton Vance Tax-Managed Diversified Equity Income Fund | 14.04 | 51.32 | +73% | 39No options | $2.2B |
| PTY PIMCO Corporate & Income Opportunity Fund | 10.60 | 12.84 | +17% | 39No options | $2.2B |
| NZF Nuveen Municipal Credit Income Fund | 10.97 | 26.09 | +58% | 39No options | $2.2B |
| NAD Nuveen Quality Municipal Income Fund | 10.32 | 15.41 | +33% | 39No options | $2.4B |
| FRFZX PGIM Floating Rate Income Fund- Class Z | 8.85 | 4.60 | -92% | 24No options | $2.0B |
| NMZ Nuveen Municipal High Income Opportunity Fund | 9.11 | 11.17 | +18% | 39No options | $2.0B |
| JPC Nuveen Preferred & Income Opportunities Fund | 6.80 | 14.89 | +54% | 39No options | $2.6B |
| ETG Eaton Vance Tax-Advantaged Global Dividend Income Fund | 23.09 | 82.99 | +72% | 39No options | $1.8B |
| FBFWX American Funds Retirement Income Portfolio - Moderate Class F-1 | 14.10 | 523.16 | +97% | 39No options | $1.7B |
| NEA Nuveen AMT-Free Quality Municipal Income Fund | 10.04 | 18.90 | +47% | 39No options | $3.0B |
| NAC Nuveen California Quality Municipal Income Fund | 10.10 | 9.04 | -12% | 36No options | $1.6B |
⚖ Compare TFILX with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about TFILX
Is TFILX undervalued right now?
No: at 8.84 the stock trades 101% above the GLS average fair value of 4.40 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of TFILX and what does it mean?
TFILX 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 TFILX?
4.40 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 T. Rowe Price Tax Free Income Fund I Class report earnings next?
No upcoming earnings date is recorded for TFILX in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does TFILX have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on TFILX, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.