Invesco Value Municipal Income Trust (IIM)
The Invesco Value Municipal Income Trust (IIM) is a closed-end investment vehicle specializing in fixed income, established by Invesco Ltd. Its management responsibilities are shared among multiple Invesco affiliates, including Invesco Advisers, Inc., INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc. The trust's primary objective is to invest in the fixed income markets within the United States. Its portfolio is predominantly composed of investment-grade municipal securities, encompassing municipal bonds, notes, commercial paper, and lease obligations. Investment decisions are guided by a fundamental analysis framework, employing a bottom-up security selection methodology. Formed on February 26, 1993, and domiciled in the United States, the fund was previously known as the Invesco Insured Municipal Income Trust.
Industry: Asset Management - Income
Invesco Value Municipal Income Trust
NYSE:IIMFinancial Services · Asset Management - Income
-2.21%$11.05
AH Close$11.05+0.00%vs close
AH Close$11.05+0.00%vs close
Mkt Cap$520.47M
Float47.1M
O/S47.1M
Inst Own17.2%
SI0.1%
Div Yield8.37%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$37.96M
Net Income$18.62M
Total Assets$907.61M
Free Cash Flow$20.34M
Debt & Equity
Debt 34%
Equity 66%
Total Debt$303.68M
Total Equity$595.63M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in IIM's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$907.61M
Liabilities$311.98M
Accounts Receivable$8.32M
Accounts Payable$7.17M
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 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-02-28 | 2025-02-28 | 2024-02-28 | 2023-02-28 | 2022-02-28 | 2021-02-28 | 2020-02-28 | 2019-02-28 | 2018-02-28 | 2017-02-28 | 2016-02-28 | 2015-02-28 | 2014-02-28 | 2013-02-28 |
| Revenue | $37.96M | $44.15M | $44.6M | -$87.47M | -$3.6M | $4.82M | $102.65M | $29.29M | $29.57M | $50.03M | $50.18M | $47.53M | $47.49M | $30.89M |
| YoY Growth | -14.0% | -1.0% | -151.0% | 2331.6% | -174.6% | -95.3% | 250.5% | -1.0% | -40.9% | -0.3% | 5.6% | 0.1% | 53.8% | - |
| Cost of Revenue | $5.13M | $0 | $0 | -$133.03M | $11.25M | -$43.49M | $18.4M | $18.09M | $15.55M | $12.91M | $10.22M | $0 | $0 | $0 |
| Gross Profit | $32.83M | $44.15M | $44.6M | $45.55M | -$14.85M | $48.31M | $84.26M | $11.2M | $14.03M | $37.12M | $39.96M | $47.53M | $47.49M | $30.89M |
| Gross Margin | 86.5% | 100.0% | 100.0% | -52.1% | 412.7% | 1001.4% | 82.1% | 38.2% | 47.4% | 74.2% | 79.6% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $381K | $5.67M | $371K | $355K | $282K | $361K | $512K | $488K | $496K | $7.03M | $6.57M | $3.93M | $3.48M | $2.86M |
| Other | $1.94M | $0 | $0 | -$83.59M | $29K | -$25.92M | $562K | $517K | $526K | $27K | -$207K | $0 | $0 | $0 |
| Total Operating Expenses | $2.32M | $5.67M | $390K | $380K | $310K | $384K | $562K | $619K | $526K | $44.52M | $105K | $47.13M | $60.55M | $10.1M |
| Operating Income (EBIT) | $30.51M | $38.49M | $39.03M | $39.44M | $39.55M | $41.17M | $42.72M | $43.37M | $36.08M | $43.01M | $43.62M | $43.6M | $44.01M | $28.03M |
| Operating Margin | 80.4% | 87.2% | 87.5% | -45.1% | -1099.5% | 853.4% | 41.6% | 148.1% | 122.0% | 86.0% | 86.9% | 91.7% | 92.7% | 90.7% |
| Interest Expense | $11.89M | $13.06M | $14.12M | $10.39M | $4.1M | $5.9M | $11.13M | $10.97M | $8.37M | $5.91M | $6.67M | $2.99M | $3.52M | $2.11M |
| Interest Income | $44.69M | $0 | $44.57M | $45.55M | $46.78M | $48.31M | $50.08M | $50.65M | $51.7M | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$11.89M | -$17.07M | $7.29M | -$353.91M | -$82.82M | -$36.73M | $59.37M | -$14.81M | -$15.4M | -$43.4M | $3.22M | $48.06M | -$60.59M | $10.85M |
| Income Before Tax (EBT) | $18.62M | $21.42M | $46.32M | -$87.85M | -$3.91M | $4.44M | $102.09M | $28.67M | $29.05M | -$398K | $46.84M | $91.67M | -$16.58M | $38.88M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8.74M |
| Net Income | $18.62M | $21.42M | $46.32M | -$87.85M | -$3.91M | $4.44M | $102.09M | $28.67M | $29.05M | -$398K | $46.84M | $91.67M | -$16.58M | $38.82M |
| Net Income Margin | 49.0% | 48.5% | 103.9% | 100.4% | 108.6% | 92.0% | 99.5% | 97.9% | 98.2% | -0.8% | 93.3% | 192.9% | -34.9% | 125.7% |
| Supplementary Data | ||||||||||||||
| EPS | 0.40 | 0.46 | 0.98 | -1.87 | -0.08 | 0.09 | 2.17 | 0.61 | 0.61 | -0.01 | 1.00 | 1.95 | -0.35 | 0.83 |
| Diluted EPS | 0.40 | 0.46 | 0.98 | -1.87 | -0.08 | 0.09 | 2.17 | 0.61 | 0.61 | -0.01 | 1.00 | 1.95 | -0.35 | 0.83 |
| Weighted Average OS | 47.09M | 47.07M | 47.07M | 47.07M | 47.07M | 47.06M | 47.06M | 47.00M | 47.06M | 47.06M | 47.04M | 47.03M | 47.03M | 47.03M |
| EBITDA | $30.51M | $38.49M | $39.03M | $149.16M | $39.55M | $10.34M | $42.72M | $28.67M | $44.44M | $43.01M | $43.62M | $43.6M | $44.01M | $40.99M |
| EBITDA Margin | 80.4% | 87.2% | 87.5% | -170.5% | -1099.5% | 214.4% | 41.6% | 97.9% | 150.3% | 86.0% | 86.9% | 91.7% | 92.7% | 132.7% |
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 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-02-28 | 2025-02-28 | 2024-02-28 | 2023-02-28 | 2022-02-28 | 2021-02-28 | 2020-02-28 | 2019-02-28 | 2018-02-28 | 2017-02-28 | 2016-02-28 | 2015-02-28 | 2014-02-28 | 2013-02-28 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $0 | $0 | $18.34M | $0 | $0 | $3.47M | $487K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Investments | $0 | $0 | $0 | -$168.25M | -$342.67M | $0 | $0 | -$364.2M | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $0 | $0 | $18.34M | -$168.25M | -$342.67M | $3.47M | $487K | -$364.2M | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $8.32M | $8.39M | $8.43M | $14.68M | $13.88M | $11.5M | $11.39M | $11.9M | $12.87M | $11.64M | $12.12M | $11.85M | $11.39M | $13M |
| Inventory | $0 | $0 | $0 | $183.01M | $356.65M | $0 | $0 | $376.1M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $8.32M | $8.39M | $26.77M | $14.68M | $13.88M | $14.97M | $11.88M | $11.9M | $12.87M | $11.64M | $12.12M | $11.85M | $11.39M | $13M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $899.18M | $900.33M | $947.75M | $965.67M | $1.19B | $1.23B | $1.29B | $1.2B | $1.21B | $791.74M | $816.88M | $806.19M | $731.59M | $1.11B |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $112K | $901.27M | $112.79M | -$168.25M | -$342.67M | -$366.73M | -$402.09M | -$364.2M | -$1.21B | $374.02M | $374.6M | $374.8M | $325.72M | $230K |
| Total Long-Term Assets | $899.29M | $901.27M | $1.06B | $797.42M | $851.1M | $860.27M | $885.84M | $835.51M | $1.21B | $1.17B | $1.19B | $1.18B | $1.06B | $1.11B |
| Other Assets | $0 | $0 | -$131.13M | $168.25M | $342.67M | $366.73M | $402.09M | $364.2M | $34K | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $907.61M | $909.67M | $956.19M | $980.35M | $1.21B | $1.24B | $1.3B | $1.21B | $1.22B | $1.18B | $1.2B | $1.19B | $1.07B | $1.13B |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $7.17M | $1.65M | $6.63M | $10.3M | $9.63M | $1.27M | $6.49M | $909K | $417K | $483K | $2.6M | $0 | $2.75M | $0 |
| Short-Term Debt | $956K | $2.24M | $1.46M | $2.44M | $1.34M | $0 | $0 | $2.79M | $0 | $4.33M | $5.66M | $4.97M | $231K | $4.94M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | -$2.44M | -$1.34M | $0 | $0 | -$2.79M | $405K | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$7.17M | $1.87M | $71K | -$13.72M | -$11.39M | -$1.8M | -$7.14M | -$4.19M | -$429K | $64K | $0 | $65K | $74K | $309K |
| Total Current Liabilities | $956K | $1.65M | $9.63M | $13.76M | $11.45M | $1.85M | $7.18M | $4.24M | $417K | $5.25M | $8.55M | $5.28M | $3.28M | $5.25M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $302.72M | $86.9M | $309.07M | $115.2M | $225.01M | $462.11M | $485.46M | $469.22M | $247.38M | $422.42M | $407.89M | $407.88M | $335.4M | $332.36M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $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 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $8.3M | $200.75M | -$309.07M | -$115.2M | -$225.01M | -$462.11M | -$485.46M | -$469.22M | -$247.38M | $335K | $365K | $363K | $352K | $329K |
| Total Long-Term Liabilities | $311.02M | $287.65M | $309.31M | $348.29M | $458.09M | $462.11M | $485.46M | $469.22M | $247.38M | $422.75M | $408.25M | $408.24M | $335.75M | $332.69M |
| Other Liabilities | $0 | $0 | -$1.36M | $247K | $266K | $311K | $315K | $322K | $233.43M | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $311.98M | $289.31M | $317.58M | $362.3M | $469.81M | $464.28M | $492.96M | $473.78M | $481.22M | $428M | $416.8M | $413.51M | $339.03M | $337.93M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $647.09M | $663.31M | $678.1M | $678.55M | $679.69M | $679.36M | $679.18M | $680.56M | $681.04M | $682.74M | $686.35M | $692.39M | $692.5M | $692.68M |
| Retained Earnings | -$51.46M | -$42.95M | -$39.49M | -$60.49M | $58.16M | $98.33M | $127.68M | $57.28M | $2.2M | $66.67M | $100.45M | $86.94M | $37.17M | $95.9M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $1.61B | $0 | $2.2M | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60.19M | $0 | $0 | $0 | $0 | $0 |
| Total Equity | $595.63M | $620.36M | $638.6M | $618.05M | $737.84M | $777.69M | $806.85M | $737.83M | $743.44M | $749.41M | $786.79M | $779.33M | $729.67M | $788.58M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $907.61M | $909.67M | $956.19M | $980.35M | $1.21B | $1.24B | $1.3B | $1.21B | $1.22B | $1.18B | $1.2B | $1.19B | $1.07B | $1.13B |
| Supplementary Data | ||||||||||||||
| Total Debt | $303.68M | $86.9M | $310.54M | $115.2M | $225.01M | $229.03M | $252.4M | $236.15M | $247.38M | $426.74M | $413.55M | $412.85M | $335.63M | $337.3M |
| Net Debt | $303.68M | $86.9M | $328.88M | $115.2M | $225.01M | $225.56M | $251.91M | $236.15M | $247.38M | $426.74M | $413.55M | $412.85M | $335.63M | $337.3M |
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 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-02-28 | 2025-02-28 | 2024-02-28 | 2023-02-28 | 2022-02-28 | 2021-02-28 | 2020-02-28 | 2019-02-28 | 2018-02-28 | 2017-02-28 | 2016-02-28 | 2015-02-28 | 2014-02-28 | 2013-02-28 |
| Operating Activities | ||||||||||||||
| Net Income | $18.62M | $21.42M | $46.32M | -$87.85M | -$3.91M | $4.44M | $102.09M | $28.67M | $29.05M | -$398K | $46.84M | $91.67M | -$16.58M | $38.88M |
| Depreciation & Amortization | $0 | $0 | $0 | $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 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | $160K | -$18K | $468K | $1.81M | $833K | -$84K | -$185K | $791K | -$330K | $507K | -$345K | -$387K | $111K | $533K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $33K | -$242K | -$22K | $558K | -$161K | -$124K | $147K | $68K | $43K | $60K | $46K | $32K | -$68K | -$3.92M |
| Total Working Capital Change | $192K | -$260K | $446K | $2.37M | $672K | -$209K | -$38K | $860K | -$287K | $567K | -$299K | -$355K | $43K | -$3.39M |
| Other Non-Cash Items | $1.53M | $41.75M | $19.17M | $226.17M | $38.36M | $55.71M | -$81.94M | $13.2M | -$47.45M | $23.54M | -$7.79M | -$126.39M | $60.57M | -$13.44M |
| Net Cash from Operating | $20.34M | $62.91M | $65.94M | $140.68M | $35.12M | $59.94M | $20.11M | $42.73M | -$18.69M | $23.71M | $38.75M | -$35.08M | $44.03M | $22.05M |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$160.43M | -$72.39M | -$245.04M | -$318.23M | -$116.64M | -$207.48M | -$97.33M | -$177.09M | -$154.24M | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $202.41M | $118.3M | $287.24M | $459.07M | $132.02M | $235.46M | $76.31M | $193.79M | $89.22M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $41.98M | $45.91M | $42.19M | $140.85M | $15.39M | $27.97M | -$21.02M | $16.7M | -$65.03M | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||
| Debt Repaid | -$47.75M | -$10.92M | $39.23M | $109.81M | $4.01M | $23.36M | -$16.25M | $11.22M | -$18.02M | -$14.56M | $5K | -$22.36M | -$2.92M | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $40M | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$16.43M | -$49.79M | -$451K | -$1.14M | $0 | $0 | -$1.38M | -$393K | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$26.94M | -$24.82M | -$25.29M | -$30.83M | -$35.92M | -$33.59M | -$31.7M | -$33.89M | -$35.02M | -$36.93M | -$39.44M | -$42.02M | -$42.25M | -$26.53M |
| Other Financing Activities | $0 | $777K | -$972K | -$108.72M | $1.34M | $0 | $13.46M | -$8.45M | -$4.31M | -$1.34M | $694K | $54.74M | -$4.71M | $4.47M |
| Net Cash from Financing | -$26.91M | -$62.91M | -$65.94M | -$140.68M | -$38.59M | -$56.96M | -$19.62M | -$42.73M | $18.69M | -$23.71M | -$38.75M | $35.08M | -$44.03M | -$22.05M |
| Forex Effect | -$35.41M | $0 | $0 | $0 | -$15.39M | -$27.97M | $21.02M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $0 | $0 | -$3.87M | $140.85M | -$3.47M | $2.98M | $487K | $16.7M | -$65.03M | $0 | $0 | $0 | $0 | $0 |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $20.34M | $62.91M | $65.94M | $140.68M | $35.12M | $59.94M | $20.11M | $42.73M | -$18.69M | $23.71M | $38.75M | -$35.08M | $44.03M | $22.05M |
| Capital Expenditure | -$4 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $20.34M | $62.91M | $65.94M | $140.68M | $35.12M | $59.94M | $20.11M | $42.73M | -$18.69M | $23.71M | $38.75M | -$35.08M | $44.03M | $22.05M |
| Cash at Beginning | $0 | $0 | $0 | $0 | $3.47M | $487K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at End | $0 | $0 | -$3.87M | $140.85M | $0 | $3.47M | $487K | $16.7M | -$65.03M | $0 | $0 | $0 | $0 | $0 |