Nuveen California Quality Municipal Income Fund (NAC)
The Nuveen California Quality Municipal Income Fund, identified by the symbol NAC, functions as a closed-end mutual fund primarily focused on fixed-income investments. This U.S.-domiciled fund was established on December 1, 1998, under the sponsorship of Nuveen Investments, Inc. Its investment activities are jointly managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund's core strategy involves investing in California's fixed-income markets, specifically targeting undervalued municipal securities and related assets that offer a valuable exemption from both regular federal and California state income taxes. A key aspect of its portfolio construction involves favoring debt instruments rated at least Baa by Moody's Investors Service, Inc., or BBB by Standard & Poor's. The portfolio typically maintains an average maturity period of approximately 20.96 years. Investment decisions are driven by a thorough bottom-up fundamental analysis approach. For performance evaluation, the fund measures itself against two benchmarks: the Standard & Poor's (S&P) California Municipal Bond Index and the Standard & Poor's (S&P) National Municipal Bond Index. Prior to its current name, the fund was recognized as the Nuveen California Dividend Advantage Municipal Fund.
Industry: Asset Management - Income
Nuveen California Quality Municipal Income Fund
NYSE:NACFinancial Services · Asset Management - Income
-2.46%$9.91
AH Close$9.91+0.00%vs close
AH Close$9.91+0.00%vs close
Mkt Cap$1.55B
Float155.23M
O/S156.33M
Inst Own16.8%
SI0.4%
Div Yield8.70%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$123.69M
Net Income-$118.24M
Total Assets$2.84B
Free Cash Flow$17.93M
Debt & Equity
Debt 43%
Equity 57%
Total Debt$1.21B
Total Equity$1.61B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in NAC's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$2.84B
Liabilities$1.23B
Accounts Receivable$36.29M
Accounts Payable$0
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 | 2025-08-31 | 2024-08-31 | 2024-02-29 | 2023-02-28 | 2022-02-28 | 2021-02-28 | 2020-02-29 | 2019-02-28 | 2018-02-28 | 2017-02-28 | 2016-02-29 | 2015-02-28 | 2014-02-28 | 2013-02-28 |
| Revenue | $123.69M | $130.12M | $116.65M | $18.51M | $127.6M | $133.22M | $151.52M | $150.02M | $150.89M | $99.63M | $133.09M | $98.24M | $26.07M | $25.6M |
| YoY Growth | -4.9% | 11.5% | 530.1% | -85.5% | -4.2% | -12.1% | 1.0% | -0.6% | 51.5% | -25.1% | 35.5% | 276.8% | 1.8% | - |
| Cost of Revenue | $17.05M | $17.75M | $50.38M | $18.18M | $20.44M | $20.58M | $20.41M | $20.27M | $20.26M | $17.23M | $15.09M | $0 | $0 | $0 |
| Gross Profit | $106.65M | $112.37M | $116.65M | $112.52M | $107.16M | $112.64M | $131.11M | $129.75M | $130.62M | $82.39M | $118M | $98.24M | $26.07M | $25.6M |
| Gross Margin | 86.2% | 86.4% | 100.0% | 607.7% | 84.0% | 84.5% | 86.5% | 86.5% | 86.6% | 82.7% | 88.7% | 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 | $5.32M | -$29.16M | $5.24M | $23.3M | $26.01M | $27.01M | $26.78M | $27.27M | $30.04M | $26.16M | $22.39M | $18.3M | $5.72M | $5.15M |
| Other | $176.83M | -$29.16M | $24K | $25K | $95.36M | $92.14M | -$274.75M | -$35.43M | -$25.43M | -$75.97M | $1.01M | $0 | $0 | $0 |
| Total Operating Expenses | $176.83M | -$29.16M | $5.26M | $23.3M | $121.37M | $119.15M | -$247.97M | $60.89M | $43.97M | $129.06M | -$1.01M | $68.8M | $33.28M | $20.85M |
| Operating Income (EBIT) | -$70.19M | $141.53M | $111.39M | -$254.11M | -$14.2M | -$6.51M | $379.07M | $122.75M | $120.85M | $6.42M | $119.01M | $79.94M | $20.35M | $20.46M |
| Operating Margin | -56.7% | 108.8% | 95.5% | -1372.5% | -11.1% | -4.9% | 250.2% | 81.8% | 80.1% | 6.4% | 89.4% | 81.4% | 78.0% | 79.9% |
| Interest Expense | $48.05M | $55.29M | $50.38M | $28.21M | $7.97M | $11.63M | $25.18M | $25.33M | $14.47M | $14.97M | $8.11M | $0 | $0 | $0 |
| Interest Income | $134.75M | $134.88M | $135.37M | $0 | $0 | $0 | $0 | $0 | $0 | $7.64M | $1.6M | $1.48M | $620K | $662K |
| Other Income (Expense) | -$48.05M | -$55.29M | -$1.7M | -$32.86M | -$12.78M | -$17.07M | $228.97M | -$58.94M | -$28.4M | -$498K | $0 | $85.62M | -$28.17M | $25.33M |
| Income Before Tax (EBT) | -$118.24M | $86.24M | $111.39M | -$286.97M | -$26.98M | -$23.59M | $348.49M | $63.81M | $92.45M | -$9.05M | $110.9M | $165.56M | -$7.83M | $45.79M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$110.55M | $14.47M | $0 | $0 | $0 |
| Net Income | -$118.24M | $86.24M | $111.39M | -$286.97M | -$26.98M | -$23.59M | $348.49M | $63.81M | $92.45M | -$9.05M | $110.9M | $165.56M | -$7.83M | $45.79M |
| Net Income Margin | -95.6% | 66.3% | 95.5% | -1550.0% | -21.1% | -17.7% | 230.0% | 42.5% | 61.3% | -9.1% | 83.3% | 168.5% | -30.0% | 178.8% |
| Supplementary Data | ||||||||||||||
| EPS | -0.81 | 0.60 | 0.77 | -1.98 | -0.19 | -0.16 | 2.41 | 0.45 | 0.64 | -0.06 | 1.03 | 1.54 | -0.33 | 1.95 |
| Diluted EPS | -0.81 | 0.60 | 0.77 | -1.98 | -0.19 | -0.16 | 2.41 | 0.44 | 0.64 | -0.06 | 1.03 | 1.54 | -0.33 | 1.95 |
| Weighted Average OS | 145.73M | 144.72M | 144.72M | 144.74M | 144.74M | 144.74M | 144.74M | 141.79M | 145.11M | 145.11M | 107.38M | 107.38M | 107.38M | 107.38M |
| EBITDA | -$70.19M | $141.53M | $113.28M | -$254.11M | -$14.2M | -$6.51M | $379.07M | $63.81M | $92.45M | -$8.55M | $110.9M | $0 | $0 | $0 |
| EBITDA Margin | -56.7% | 108.8% | 97.1% | -1372.5% | -11.1% | -4.9% | 250.2% | 42.5% | 61.3% | -8.6% | 83.3% | - | - | - |
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 | 2025-08-31 | 2024-08-31 | 2024-02-29 | 2023-02-28 | 2022-02-28 | 2021-02-28 | 2020-02-29 | 2019-02-28 | 2018-02-28 | 2017-02-28 | 2016-02-29 | 2015-02-28 | 2014-02-28 | 2013-02-28 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$26.57M | $0 | $449K | $8.69M | $205K |
| Short-Term Investments | $23.6M | $6.5M | $20.2M | $0 | $0 | $0 | $0 | $0 | $0 | $26.57M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $23.6M | $6.5M | $20.2M | $0 | $0 | $0 | $0 | $0 | $0 | $26.57M | $0 | $449K | $8.69M | $205K |
| Accounts Receivable | $36.29M | $44.79M | $31.83M | $33.38M | $57.88M | $74.22M | $58.93M | $44.2M | $61.2M | $46.34M | $63.55M | $36.77M | $10.33M | $9.37M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | -$51.29M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $59.89M | $51.29M | $52.03M | $33.38M | $57.88M | $74.22M | $58.93M | $44.2M | $61.2M | $46.34M | $63.55M | $37.22M | $19.02M | $9.57M |
| 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 | $2.78B | $3.04B | $3.03B | $3B | $3.42B | $3.55B | $3.69B | $3.41B | $3.45B | $3.31B | $2.45B | $2.47B | $507.89M | $531.04M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $662K | $698K | $11.29M | $3.05B | -$17.38M | -$19.84M | -$24.69M | -$3.41B | -$3.45B | $37.94M | $4.45M | $4.8M | $1.02M | $863K |
| Total Long-Term Assets | $2.78B | $3.04B | $3.04B | $3B | $3.4B | $3.53B | $3.66B | $3.41B | $3.45B | $3.34B | $2.46B | $2.48B | $508.91M | $531.9M |
| Other Assets | $0 | $3.09B | -$10.13M | $10.98M | $18.56M | $20.94M | $25.72M | $29.09M | $33M | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $2.84B | $3.09B | $3.09B | $3.05B | $3.48B | $3.63B | $3.75B | $3.48B | $3.54B | $3.39B | $2.52B | $2.52B | $527.93M | $541.47M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $0 | $0 | $6.44M | $5.05M | $12.57M | $31.03M | $14.61M | $7.75M | $23.19M | $0 | $0 | $0 | $0 | $3.22M |
| Short-Term Debt | $4.95M | $6.67M | $2.24M | $3.2M | $10.01M | $10.23M | $37.04M | $4.48M | $40.54M | $48.41M | $88.34M | $93M | $43.4M | $25.92M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | -$3.45M | -$10.01M | -$10.23M | -$9.46M | -$12.23M | -$12.96M | -$2.69M | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | -$6.67M | $9.06M | $5.94M | $12.89M | $17.42M | $12M | -$12.23M | -$64.08M | $21.3M | $9.62M | $10.5M | $2.86M | $2.03M |
| Total Current Liabilities | $4.95M | $6.67M | $19.12M | $10.74M | $25.46M | $48.45M | $54.19M | $42.19M | $66.75M | $69.71M | $97.96M | $103.5M | $46.26M | $31.18M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $1.21B | $1.22B | $1.22B | $1.23B | $1.27B | $1.28B | $1.3B | $1.3B | $1.3B | $1.14B | $781.09M | $699.6M | $136.2M | $136.2M |
| 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 | $20.79M | -$1.22B | $1.23B | -$1.23B | -$1.27B | -$1.28B | $0 | -$1.3B | -$1.3B | -$45.73M | -$81.49M | $0 | $0 | $0 |
| Total Long-Term Liabilities | $1.23B | $1.24B | $1.27B | $1.23B | $1.27B | $1.27B | $1.27B | $1.27B | $1.27B | $1.1B | $699.6M | $699.6M | $136.2M | $136.2M |
| Other Liabilities | $0 | $1.24B | -$52.56M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.23B | $1.24B | $1.24B | $1.24B | $1.3B | $1.32B | $1.33B | $1.32B | $1.34B | $1.17B | $797.56M | $803.1M | $182.46M | $167.38M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $1.46M | $1.45M | $1.45M | $1.45M | $1.45M | $1.45M | $1.45M | $1.45M | $1.45M | $1.45M | $1.07M | $1.07M | $235K | $235K |
| Retained Earnings | -$285.29M | -$151.68M | -$107.59M | -$154.43M | $214.23M | $335.75M | $451.28M | $195.99M | $229.67M | $1.21M | $9.02M | $257.33M | $10.83M | $38.86M |
| Comprehensive Income & Other | $0 | $52.64M | $0 | $0 | $0 | $0 | $0 | $0 | $233.74M | $245.26M | $259.97M | $0 | $0 | $0 |
| Other Stockholders' Equity | $1.9B | $2B | $1.96B | $1.96B | $1.97B | $1.97B | $1.97B | $1.97B | $1.97B | $2.22B | $1.71B | $1.46B | $334.39M | $335M |
| Total Equity | $1.61B | $1.85B | $1.86B | $1.81B | $2.18B | $2.3B | $2.42B | $2.16B | $2.2B | $2.22B | $1.72B | $1.71B | $345.46M | $374.1M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $2.84B | $3.09B | $3.09B | $3.05B | $3.48B | $3.63B | $3.75B | $3.48B | $3.54B | $3.39B | $2.52B | $2.52B | $527.93M | $541.47M |
| Supplementary Data | ||||||||||||||
| Total Debt | $1.21B | $1.23B | $1.23B | $1.23B | $1.28B | $1.29B | $1.31B | $1.31B | $1.31B | $1.15B | $787.94M | $792.6M | $179.6M | $162.12M |
| Net Debt | $1.21B | $1.23B | $1.23B | $3.2M | $1.28B | $1.29B | $1.31B | $1.31B | $1.31B | $1.17B | $787.94M | $792.15M | $170.91M | $161.91M |
Cash Flow Statement
| Period | 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 |
| Period Ending | 2024-08-31 | 2024-02-29 | 2023-02-28 | 2022-02-28 | 2021-02-28 | 2020-02-29 | 2019-02-28 | 2018-02-28 | 2017-02-28 | 2016-02-29 | 2015-02-28 | 2014-02-28 | 2013-02-28 |
| Operating Activities | |||||||||||||
| Net Income | $86.24M | $111.39M | -$286.97M | -$26.98M | -$23.59M | $348.49M | $63.81M | $92.45M | -$9.05M | $110.9M | $165.56M | -$7.83M | $45.79M |
| Depreciation & Amortization | $0 | $184K | $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 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||
| Accounts Receivable | -$12.96M | $1.55M | $24.5M | $16.34M | -$15.29M | -$14.73M | $17M | -$14.86M | $39.01M | -$26.79M | $17.81M | -$957K | -$1.72M |
| Inventory | $0 | $0 | $5.06M | $0 | $0 | $0 | $15.5M | -$6.47M | -$8.96M | $300K | $0 | $0 | $0 |
| Accounts Payable | -$460K | $104K | -$5.17M | -$18.45M | $16.19M | $7.48M | -$15.11M | $6.04M | $9.73M | $43K | $0 | $0 | $0 |
| Other Working Capital | $1.24M | $236K | $112K | -$217K | $272K | -$93K | -$395K | -$6.04M | -$764K | -$344K | -$1.4M | $711K | -$6K |
| Total Working Capital Change | -$12.18M | $1.79M | $24.5M | -$2.32M | $1.17M | -$7.34M | $17M | -$14.86M | $47.97M | -$27.09M | $16.41M | -$245K | -$1.73M |
| Other Non-Cash Items | -$56.13M | -$47.94M | $404.03M | $137.68M | $135.17M | -$245.15M | $30.59M | -$130.94M | $58.79M | $11.63M | -$153.31M | $19.92M | -$21.85M |
| Net Cash from Operating | $17.93M | $65.42M | $141.56M | $108.38M | $112.76M | $96M | $111.4M | -$53.34M | $146.46M | $68.7M | $28.66M | $11.85M | $22.22M |
| Investing Activities | |||||||||||||
| Capital Expenditures | $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 |
| Purchases of Investments | -$119.64M | -$745.53M | -$2.16B | -$454.82M | -$612.85M | -$386.74M | -$1.04B | -$645.74M | -$823.89M | -$374.55M | $0 | $0 | $0 |
| Sales of Investments | $132.77M | $767.7M | $2.19B | $445.52M | $614.5M | $379.56M | $1.05B | $487.18M | $650.76M | $389.51M | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $13.13M | $22.17M | $35M | -$9.31M | $1.64M | -$7.18M | $2.59M | -$158.56M | -$173.14M | $14.96M | $0 | $0 | $0 |
| Financing Activities | |||||||||||||
| Debt Repaid | - | -$43.62M | $6.81M | $213K | $23.39M | -$4.98M | $8.48M | -$10.27M | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $168.56M | $0 | $0 | $0 | $268.33M | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | -$130K | -$49.8M | $0 | $0 | $0 | -$4.61M | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$49.04M | -$65.8M | -$84.95M | -$94.67M | -$91.76M | -$93.81M | -$98.3M | -$113.49M | -$101.09M | -$100.16M | -$62.82M | -$20.72M | -$21.05M |
| Other Financing Activities | $0 | -$130K | $49.8M | -$4.18M | $0 | $0 | -$4.61M | -$18.44M | $112.81M | -$4.95M | -$7.31M | $17.35M | -$2.7M |
| Net Cash from Financing | -$44.76M | -$67.3M | -$141.56M | -$99.07M | -$114.4M | -$88.83M | -$111.4M | $53.34M | $11.86M | -$104.82M | -$70.13M | -$3.36M | -$23.75M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$14.96M | $0 | $0 | $0 |
| Net Change in Cash | $0 | $20.2M | $35M | $0 | $0 | $0 | $2.59M | -$158.56M | -$14.82M | -$36.12M | -$8.24M | $8.49M | -$1.54M |
| Supplementary Data | |||||||||||||
| Operating Cash Flow | $17.93M | $65.42M | $141.56M | $108.38M | $112.76M | $96M | $111.4M | -$53.34M | $146.46M | $68.7M | $28.66M | $11.85M | $22.22M |
| Capital Expenditure | $0 | $0 | $4 | -$4 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $17.93M | $65.42M | $141.56M | $108.38M | $112.76M | $96M | $111.4M | -$53.34M | $146.46M | $68.7M | $28.66M | $11.85M | $22.22M |
| Cash at Beginning | $0 | $35M | $0 | $0 | $0 | $0 | $0 | $0 | -$172.73M | $449K | $8.69M | $205K | $1.74M |
| Cash at End | $0 | $20.2M | $35M | $0 | $0 | $0 | $2.59M | -$158.56M | -$187.55M | -$35.67M | $449K | $8.69M | $205K |