Eaton Vance Michigan Municipal Income Trust
Eaton Vance Michigan Municipal Income Trust Fundamental Analysis
Eaton Vance Michigan Municipal Income Trust (EMI) shows moderate financial fundamentals with a PE ratio of 16.68, profit margin of 60.69%, and ROE of 4.93%. The company generates N/A in annual revenue with N/A year-over-year growth of N/A.
Key Strengths
Areas of Concern
The stock receives a Fundamental Health Score of 62.6/100 based on profitability, valuation, growth, and balance sheet metrics. The C+ grade reflects average fundamentals, with notable risks in certain areas.
Fundamental Health Score
We analyze EMI's fundamental strength across five key dimensions:
Efficiency Score
WeakEMI struggles to generate sufficient returns from assets.
Valuation Score
ExcellentEMI trades at attractive valuation levels.
Growth Score
WeakEMI faces weak or negative growth trends.
Financial Health Score
ExcellentEMI maintains a strong and stable balance sheet.
Profitability Score
WeakEMI struggles to sustain strong margins.
Key Financial Metrics
Is EMI Expensive or Cheap?
P/E Ratio
EMI trades at 16.68 times earnings. This indicates a fair valuation.
PEG Ratio
When adjusting for growth, EMI's PEG of 0.17 indicates potential undervaluation.
Price to Book
The market values Eaton Vance Michigan Municipal Income Trust at 0.82 times its book value. This may indicate undervaluation.
EV/EBITDA
Enterprise value stands at 0.00 times EBITDA. This is generally considered low.
How Well Does EMI Make Money?
Net Profit Margin
For every $100 in sales, Eaton Vance Michigan Municipal Income Trust keeps $60.69 as profit after all expenses.
Operating Margin
Core operations generate 60.69 in profit for every $100 in revenue, before interest and taxes.
ROE
Management delivers $4.93 in profit for every $100 of shareholder equity.
ROA
Eaton Vance Michigan Municipal Income Trust generates $3.15 in profit for every $100 in assets, demonstrating efficient asset deployment.
Following the Money - Real Cash Generation
FCF Per Share
Each share generates $0.09 in free cash annually.
Financial Ratios Analysis
Valuation Ratios
P/E Ratio
Price to earnings ratio
16.68
vs 25 benchmark
PEG Ratio
Price/earnings to growth ratio
0.17
vs 25 benchmark
P/B Ratio
Price to book value ratio
0.82
vs 25 benchmark
P/S Ratio
Price to sales ratio
0.00
vs 25 benchmark
Financial Health
Debt/Equity
Total debt to shareholders' equity
0.00
vs 25 benchmark
Current Ratio
Current assets to current liabilities
31.72
vs 25 benchmark
Efficiency Ratios
ROE
Return on equity percentage
0.05
vs 25 benchmark
ROA
Return on assets percentage
0.03
vs 25 benchmark
ROCE
Return on capital employed
0.03
vs 25 benchmark
How EMI Stacks Against Its Sector Peers
| Metric | EMI Value | Sector Average | Performance |
|---|---|---|---|
| P/E Ratio | 16.68 | 18.59 | Better (Cheaper) |
| ROE | 4.93% | 801.00% | Weak |
| Net Margin | 60.69% | -498.00% (disorted) | Strong |
| Debt/Equity | 0.00 | 0.98 | Strong (Low Leverage) |
| Current Ratio | 31.72 | 661.40 | Strong Liquidity |
| ROA | 3.15% | -21324.00% (disorted) | Weak |
EMI outperforms its industry in 4 out of 6 key metrics, particularly excelling in Net Margin, but lagging in ROE.
Historical Growth Performance
5-Year Growth Trajectory
This section reviews Eaton Vance Michigan Municipal Income Trust's 5-year compound annual growth rate (CAGR) and compares its performance against the typical investment style of its industry.
Revenue CAGR
N/A
Industry Style: Value, Dividend, Cyclical
EPS CAGR
N/A
Industry Style: Value, Dividend, Cyclical
FCF CAGR
N/A
Industry Style: Value, Dividend, Cyclical