Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB)
The Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust is a closed-end mutual fund focusing on fixed-income investments, originally launched by Guggenheim Partners, LLC. Its operations are jointly managed by Guggenheim Funds Investment Advisors, LLC and Guggenheim Partners Investment Management, LLC. The trust allocates capital within the United States' fixed income markets, primarily building a diversified portfolio composed of taxable municipal securities, particularly those designated as Build America Bonds. Established on October 26, 2010, this U.S.-domiciled entity was formerly known as Guggenheim Taxable Municipal Managed Duration Trust.
Industry: Asset Management - Bonds
Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust
NYSE:GBABFinancial Services · Asset Management - Bonds
PrePre-market+0.00%$12.53
Close$12.53+0.32%
AH Close$12.53+0.00%vs close
Close$12.53+0.32%AH$12.53+0.00%vs close
Mkt Cap$347.07M
Float27.7M
O/S27.7M
Inst Own29.9%
Div Yield12.04%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$29.01M
Net Income$31.87M
Total Assets$577.58M
Free Cash Flow$24.15M
Debt & Equity
Debt 28%
Equity 72%
Total Debt$160.18M
Total Equity$401.87M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in GBAB's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$577.58M
Liabilities$175.71M
Accounts Receivable$8K
Accounts Payable$11.59M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-05-31 | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 | 2020-05-31 | 2019-05-31 | 2018-05-31 | 2017-05-31 | 2016-05-31 |
| Revenue | $29.01M | $28.97M | $22.52M | -$17.21M | -$64.68M | $42.49M | $15.3M | $27.49M | $16.62M | $36.02M | $30.66M |
| YoY Growth | 0.2% | 28.6% | -230.9% | -73.4% | -252.2% | 177.7% | -44.3% | 65.3% | -53.8% | 17.5% | - |
| Cost of Revenue | $3.85M | $6.13M | $7.66M | $3.43M | $4.33M | $3.94M | $3.5M | $3.22M | $3.48M | $3.68M | $3.56M |
| Gross Profit | $25.16M | $22.83M | $22.52M | -$20.63M | -$69.01M | $38.54M | $11.8M | $24.27M | $13.14M | $32.34M | $27.1M |
| Gross Margin | 86.7% | 78.8% | 100.0% | 119.9% | 106.7% | 90.7% | 77.1% | 88.3% | 79.0% | 89.8% | 88.4% |
| Research and Development | $0 | $0 | $0 | -$1 | -$2 | $1 | $0 | $1 | $0 | $1 | $1 |
| Selling, General, and Administrative | $0 | $1.18M | $892K | $1.16M | $980K | $1.03M | $652K | $649K | $692K | $1 | $1 |
| Other | -$14.07M | $26K | $18K | -$35.88M | $21K | $21K | $123K | $212K | $215K | $17.42M | $17.42M |
| Total Operating Expenses | -$14.07M | $1.2M | $910K | $1.18M | $1M | $1.05M | $776K | $862K | $907K | $17.42M | $17.42M |
| Operating Income (EBIT) | $39.24M | $21.63M | $21.61M | -$18.39M | -$64.23M | $42.61M | $17.33M | $29.45M | $18.37M | $9.13M | $2.7M |
| Operating Margin | 135.2% | 74.7% | 96.0% | 106.9% | 99.3% | 100.3% | 113.3% | 107.1% | 110.5% | 25.3% | 8.8% |
| Interest Expense | $7.36M | $6.13M | $7.66M | $5.56M | $1.45M | $1.17M | $2.81M | $2.83M | $2.65M | $0 | $0 |
| Interest Income | $36.2M | $32.55M | $29.15M | $27.09M | $28M | $25.19M | $26.47M | $29.14M | $32.48M | $0 | $0 |
| Other Income (Expense) | -$7.37M | -$6.1M | $0 | -$5.54M | -$1.45M | -$1.49M | $3.5M | $3.22M | $0 | $17.76M | $25.27M |
| Income Before Tax (EBT) | $31.87M | $21.63M | $21.61M | -$18.39M | -$65.68M | $41.43M | $14.52M | $26.62M | $15.72M | $9.13M | $2.7M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$161K | $18.37M | $29.08M | $29.54M |
| Net Income | $31.87M | $21.63M | $21.61M | -$18.39M | -$65.68M | $41.43M | $14.52M | $26.62M | $15.72M | $29.08M | $29.54M |
| Net Income Margin | 109.8% | 74.7% | 96.0% | 106.9% | 101.5% | 97.5% | 94.9% | 96.9% | 94.5% | 80.7% | 96.4% |
| Supplementary Data | |||||||||||
| EPS | 1.18 | 0.92 | 0.93 | -0.80 | -3.00 | 2.00 | 0.77 | 1.53 | 0.90 | 1.88 | 1.84 |
| Diluted EPS | 1.18 | 0.92 | 0.93 | -0.80 | -3.00 | 2.00 | 0.77 | 1.53 | 0.90 | 1.88 | 1.84 |
| Weighted Average OS | 27.01M | 23.51M | 23.24M | 22.98M | 21.86M | 20.73M | 18.75M | 17.42M | 17.42M | 15.44M | 16.10M |
| EBITDA | $39.23M | $21.63M | $29.43M | -$12.62M | -$64.23M | $42.61M | $17.33M | $29.45M | $18.37M | $9.13M | $2.7M |
| EBITDA Margin | 135.2% | 74.7% | 130.7% | 73.3% | 99.3% | 100.3% | 113.3% | 107.1% | 110.5% | 25.3% | 8.8% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-05-31 | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 | 2020-05-31 | 2019-05-31 | 2018-05-31 | 2017-05-31 | 2016-05-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $19K | $298K | $246K | $214K | $265K | $637K | $98K | $52K | $281K | $937K | $1.94M |
| Short-Term Investments | $0 | $0 | $39K | $0 | $0 | $0 | $0 | $0 | $0 | $1.39M | $0 |
| Cash and Short-Term Investments | $19K | $298K | $285K | $214K | $265K | $637K | $98K | $52K | $281K | $2.32M | $1.94M |
| Accounts Receivable | $8K | $6.81M | $6.59M | $5.97M | $9.26M | $75.45M | $7.67M | $8.3M | $8.88M | $8.64M | $10.89M |
| Inventory | $0 | $0 | $0 | $6.29M | $9.8M | $76.53M | $0 | $8.33M | $9.35M | $0 | $0 |
| Other Current Assets | $15.57M | $0 | -$6.88M | -$6.29M | -$9.8M | -$76.53M | -$7.77M | -$8.33M | -$9.35M | -$10.96M | -$12.83M |
| Total Current Assets | $15.6M | $7.11M | $259K | $6.18M | $9.52M | $76.09M | $7.77M | $8.35M | $9.16M | $0 | $0 |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $561.98M | $0 | $503.57M | $489.49M | $561.13M | $679.98M | $500.35M | $493.53M | $481.78M | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $4K | $545.95M | -$503.57M | -$489.49M | -$561.13M | -$679.98M | -$500.35M | -$493.53M | -$481.78M | $0 | $0 |
| Total Long-Term Assets | $561.98M | $545.95M | $510.21M | $489.49M | $561.13M | $679.98M | $500.35M | $493.53M | $481.78M | $867 | $877 |
| Other Assets | $0 | $0 | $510.47M | $110K | $6K | $445K | $1K | $561 | $189K | $521.75M | $559.45M |
| Total Assets | $577.58M | $553.06M | $510.47M | $495.79M | $570.66M | $756.52M | $508.12M | $501.89M | $491.13M | $521.75M | $559.45M |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $11.59M | $5.8M | $7.85M | $123K | $549K | $52.3M | $584K | $4.9M | $300K | $0 | $0 |
| Short-Term Debt | $160.15M | $0 | $0 | $127.05M | $167.78M | $98.18M | $82.29M | $56.16M | $50.51M | $67.71M | $89.69M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $111.31M | -$126.93M | -$167.23M | -$45.87M | -$81.71M | -$51.25M | -$50.21M | $0 | $0 |
| Other Current Liabilities | -$15.39M | $0 | -$119.61M | -$561K | -$1.31M | -$53.09M | -$996K | -$5.2M | -$573K | -$67.71M | -$89.69M |
| Total Current Liabilities | $160.15M | $5.8M | $8.29M | $123K | $549K | $52.3M | $584K | $4.9M | $300K | $67.71M | $89.69M |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $34K | $146.18M | $67K | $0 | $0 | $0 | $0 | $0 | $0 | $47.58M | $62.01M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $15.52M | $780K | -$67K | $0 | $0 | $0 | $0 | $0 | $0 | $688K | $1.93M |
| Total Long-Term Liabilities | $15.56M | $146.96M | $67K | $127.15M | $167.96M | $195.77M | $92.89M | $100.76M | $95.2M | $48.26M | $63.94M |
| Other Liabilities | $0 | $0 | $127.69M | $545K | $1.03M | $35.75M | $476K | $503K | $411K | $0 | $0 |
| Total Liabilities | $175.71M | $152.76M | $127.69M | $127.82M | $169.53M | $283.83M | $93.95M | $106.17M | $95.91M | $115.97M | $153.63M |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $277K | $270K | $248K | $230K | $219K | $207K | $188K | $174K | $174K | $174K | $174K |
| Retained Earnings | -$60.31M | -$67.74M | -$66.89M | -$68.95M | -$30.12M | $64.4M | $52.59M | $64.9M | $5.5M | $74.73M | $74.7M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $461.91M | $467.78M | $449.42M | $436.69M | $431.02M | $408.08M | $361.39M | $330.64M | $389.55M | $330.88M | $330.94M |
| Total Equity | $401.87M | $400.31M | $382.78M | $367.97M | $401.12M | $472.69M | $414.17M | $395.72M | $395.22M | $405.78M | $405.82M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $577.58M | $553.06M | $510.47M | $495.79M | $570.66M | $756.52M | $508.12M | $501.89M | $491.13M | $521.75M | $559.45M |
| Supplementary Data | |||||||||||
| Total Debt | $160.18M | $146.18M | $119.22M | $127.15M | $167.96M | $195.77M | $92.89M | $100.76M | $95.2M | $115.28M | $151.7M |
| Net Debt | $160.16M | $145.88M | -$246K | $126.94M | $167.69M | $195.14M | $92.8M | $100.71M | $94.92M | $114.35M | $149.76M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-05-31 | 2025-05-31 | 2024-05-31 | 2023-05-31 | 2022-05-31 | 2021-05-31 | 2020-05-31 | 2019-05-31 | 2018-05-31 | 2017-05-31 | 2016-05-31 |
| Operating Activities | |||||||||||
| Net Income | $31.87M | $21.63M | $21.61M | -$18.39M | -$65.68M | $41.43M | $14.52M | $26.62M | $15.72M | $26.89M | $27.96M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | -$8.7M | -$383K | -$489K | $2.45M | $66.78M | -$68.52M | $1.65M | $579K | -$242K | $2.25M | -$1.7M |
| Inventory | $0 | $0 | $0 | -$52K | $0 | $0 | $0 | -$43K | $0 | $0 | $0 |
| Accounts Payable | $9.15M | -$2.04M | $7.71M | -$485K | -$51.77M | $51.82M | -$4.23M | $4.49M | $287K | -$248K | $112K |
| Other Working Capital | -$158K | -$1.99M | -$51K | -$66K | $117K | $15K | -$152K | $238K | $99K | -$147K | $262K |
| Total Working Capital Change | $287K | -$2.38M | $7.17M | $1.84M | $15.13M | -$16.68M | -$2.73M | $5.26M | -$81K | $1.86M | -$1.33M |
| Other Non-Cash Items | -$8M | -$42.29M | -$14.04M | $71.13M | $84.38M | -$144.6M | -$6.82M | -$11.82M | $30.37M | -$4.14M | -$2.53M |
| Net Cash from Operating | $24.15M | -$23.04M | $14.74M | $54.59M | $33.83M | -$119.85M | $4.97M | $20.07M | $46M | $26.61M | $22.51M |
| Investing Activities | |||||||||||
| Capital Expenditures | $0 | $0 | $4 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$133.1M | -$102.56M | -$97.1M | -$51.78M | -$235.61M | -$343M | -$136.11M | -$39.63M | -$38.89M | -$31.77M | -$63.48M |
| Sales of Investments | $130.05M | $58.74M | $85.98M | $91.9M | $227.72M | $189.4M | $123.76M | $28.64M | $65.76M | $68M | $44.3M |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$3.05M | -$43.81M | -$11.12M | $40.13M | -$7.88M | -$153.6M | -$12.36M | -$10.99M | $26.88M | $36.23M | -$19.18M |
| Financing Activities | |||||||||||
| Debt Repaid | - | -$26.97M | $7.89M | $40.72M | $27.76M | -$102.74M | $34M | -$5.64M | $3M | - | - |
| Common Stock Issuance | $9.15M | $33.44M | $27.31M | $18.58M | $23.72M | $46.18M | $29.4M | $256.88M | $172.19M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | -$355.17M | -$251.24M | -$189.38M | $0 | $0 |
| Dividends Paid | -$39.52M | -$37.35M | -$34.18M | -$32.42M | -$30.32M | -$28.07M | -$26.31M | -$26.13M | -$26.28M | -$26.93M | -$28.81M |
| Other Financing Activities | $1K | -$10K | -$7K | $30K | -$6K | -$16K | -$152K | -$5.64M | $17.19M | -$36.18M | $25.68M |
| Net Cash from Financing | -$16.34M | $23.05M | -$14.77M | -$54.81M | -$34.37M | $120.83M | -$4.93M | -$20.49M | -$46.47M | -$63.11M | -$3.13M |
| Forex Effect | -$5.04M | $1.47M | -$605K | -$40.13M | $7.88M | $153.6M | $12.36M | $10.99M | $0 | $0 | $0 |
| Net Change in Cash | -$279K | $13K | -$33K | -$219K | -$536K | $975K | $45K | -$418K | -$467K | -$1M | $209K |
| Supplementary Data | |||||||||||
| Operating Cash Flow | $24.15M | -$23.04M | $14.74M | $54.59M | $33.83M | -$119.85M | $4.97M | $20.07M | $46M | $26.61M | $22.51M |
| Capital Expenditure | -$4 | $0 | $4 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $24.15M | -$23.04M | $14.74M | $54.59M | $33.83M | -$119.85M | $4.97M | $20.07M | $46M | $26.61M | $22.51M |
| Cash at Beginning | $298K | $285K | $318K | $537K | $1.07M | $98K | $52K | $470K | $937K | $1.94M | $1.73M |
| Cash at End | $19K | $298K | $285K | $318K | $537K | $1.07M | $98K | $52K | $470K | $937K | $1.94M |