MFS High Income Municipal Trust (CXE)
ValueMarkers Composite Index
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MFS High Income Municipal Trust (CXE) — VMCI valuation read
MFS High Income Municipal Trust sits at VMCI 43/100, with the Financial Services sector median at 50. That 8-point spread is the first thing to note on CXE: it tells the reader the composite is unfavorable before any single ratio is examined, and the mid-cap tier sets the comparison set.
Form 4 disclosures on CXE are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.
**Investor frame.** The Value read on CXE: CXE trades at 14.0x earnings, 22% below the Financial Services median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Financial Services median (10.0%). The Risk read: net debt to EBITDA of 1.4x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.
CXE rose 1.7% over the trailing 7 days, with a -7.9% read on a 30-day basis.
MFS High Income Municipal Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets. It primarily invests in municipal bonds and local general obligations of various sectors, such as multifamily, hospitals, care retirement, and investor-owned utilities. The fund benchmarks the performance of its portfolio against Barclays Municipal Bond Index. It was formerly known as Colonial High Income Municipal Trust. MFS High Income Municipal Trust was formed on February 17, 1989 and is domiciled in United States.
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