PIMCO Dynamic Income Fund (PDI)
Financial Services · NYQ · US
Fundamentals
Valuation and ratings
PIMCO Dynamic Income Fund trades at USD16.44, close to the USD17.34 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 12 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 8.0 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About PIMCO Dynamic Income Fund
PIMCO Dynamic Income Fund is a close ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets across the globe. It invests in multiple fixed-income sectors, including non-agency residential and commercial mortgage-backed securities and below investment-grade securities. The fund primarily invests in mortgage-backed securities, investment-grade and high-yield corporate bonds, developed and emerging markets corporate bonds, and sovereign bonds. PIMCO Dynamic Income Fund was formed on May 30, 2012 and is domiciled in the United States.
PDI passes 1 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
1 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$310.1K · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is PIMCO Dynamic Income Fund (PDI) undervalued?
Against our discounted cash flow estimate of USD17.34, PDI at USD16.44 is 5% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own PDI?
1 of the institutions we track reported a position in PDI in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is PDI's P/E ratio?
PDI trades at 8.0 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.