NEUBERGER MUNICIPAL FUND INC. (NBH)
The Neuberger Municipal Fund, Inc. operates as a closed-end, non-diversified investment management firm. Its main purpose is to deliver a significant level of current income, which is exempt from federal income tax, to its common equity holders. This objective is met through strategic investments in municipal securities. The fund commenced operations on July 29, 2002, and its corporate base is situated in New York, NY.
Industry: Asset Management
Neuberger Municipal Fund Inc.
NYSE:NBHFinancial Services · Asset Management
-1.28%$9.23
AH Close$9.23+0.00%vs close
AH Close$9.23+0.00%vs close
Mkt Cap$273.37M
Float29.62M
O/S29.62M
Inst Own43.4%
SI0.4%
Div Yield7.04%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$16.54M
Net Income$4.8M
Total Assets$569.51M
Free Cash Flow$0
Debt & Equity
Debt 40%
Equity 60%
Total Debt$227.9M
Total Equity$337.83M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in NBH's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$569.51M
Liabilities$231.69M
Accounts Receivable$9.39M
Accounts Payable$3.33M
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 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | 2020-10-31 | 2019-10-31 | 2018-10-31 | 2017-10-31 | 2016-10-31 | 2015-10-31 | 2014-10-31 | 2013-10-31 | 2012-10-31 | 2011-10-31 | 2010-10-31 |
| Revenue | $16.54M | $12.37M | $13.28M | -$55.12M | $19.92M | $17.81M | $35.7M | $2.74M | $10.36M | $25.95M | $16.2M | $48.23M | -$8.35M | $38.82M | $16.4M | $32.79M |
| YoY Growth | 33.7% | -6.8% | -124.1% | -376.7% | 11.8% | -50.1% | 1203.5% | -73.6% | -60.1% | 60.1% | -66.4% | -677.4% | -121.5% | 136.7% | -50.0% | - |
| Cost of Revenue | $3.47M | $3.43M | $2.23M | $2.49M | $2.71M | $2.7M | $2.72M | $2.74M | $2.76M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $13.07M | $8.94M | $7.75M | -$57.61M | $17.21M | $15.11M | $32.98M | -$2K | $7.59M | $25.95M | $16.2M | $48.23M | -$8.35M | $38.82M | $16.4M | $32.79M |
| Gross Margin | 79.0% | 72.2% | 58.3% | 104.5% | 86.4% | 84.8% | 92.4% | -0.1% | 73.3% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | -$4 | $0 | $0 | $0 | -$0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $2.41M | $2.7M | $1.74M | $1.65M | $1.74M | $1.74M | $1.82M | $1.79M | $1.85M | $2M | $1.91M | $2.04M | $2.19M | $2.2M | $2.15M | $2.39M |
| Other | -$3.33M | $10.16M | $8.24M | $2.93M | $1.66M | $2.83M | $4.58M | $4.68M | $3.63M | $2.9M | $2.41M | $824K | $21K | -$217K | -$431K | -$658K |
| Total Operating Expenses | -$915K | $12.86M | $9.97M | $4.58M | $3.4M | $4.57M | $6.4M | $6.47M | $5.48M | $4.89M | $4.32M | $2.86M | $2.21M | $1.99M | $1.72M | $1.73M |
| Operating Income (EBIT) | $13.99M | $61.46M | -$2.23M | -$56.79M | $16.52M | $6.04M | $29.3M | -$3.73M | $4.88M | $21.06M | $11.89M | $45.38M | -$10.56M | $36.84M | $14.68M | $31.05M |
| Operating Margin | 84.6% | 496.8% | -16.8% | 103.0% | 82.9% | 33.9% | 82.1% | -136.3% | 47.1% | 81.2% | 73.4% | 94.1% | 126.4% | 94.9% | 89.5% | 94.7% |
| Interest Expense | $9.18M | $10.13M | $160 | $986 | $2K | $0 | $0 | $0 | $0 | $5K | $7K | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $27.75M | $27.26M | $17.1M | $17.17M | $18.24M | $18.42M | $20M | $20.52M | $20.54M | $20.5M | $20.75M | $20.55M | $20.09M | $21.51M | $21.51M | $21.25M |
| Other Income (Expense) | -$9.18M | -$10.13M | $4.36M | -$2.91M | -$1.64M | -$2.81M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Income Before Tax (EBT) | $4.8M | $51.33M | $2.13M | -$59.7M | $16.52M | $3.23M | $29.3M | -$3.73M | $4.88M | $21.05M | $11.88M | $45.38M | -$10.56M | $36.84M | $14.68M | $31.05M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$23K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | $4.8M | $51.33M | $2.13M | -$59.7M | $16.52M | $3.23M | $29.3M | -$3.73M | $4.88M | $21.05M | $11.88M | $45.38M | -$10.56M | $36.84M | $14.68M | $31.05M |
| Net Income Margin | 29.1% | 414.9% | 16.1% | 108.3% | 82.9% | 18.1% | 82.1% | -136.3% | 47.1% | 81.1% | 73.3% | 94.1% | 126.4% | 94.9% | 89.5% | 94.7% |
| Supplementary Data | ||||||||||||||||
| EPS | 0.16 | 1.73 | 0.07 | -3.17 | 0.88 | 0.17 | 1.56 | -0.20 | 0.26 | 1.12 | 0.63 | 2.42 | -0.56 | 1.94 | 0.75 | 1.63 |
| Diluted EPS | 0.16 | 1.73 | 0.07 | -3.17 | 0.88 | 0.17 | 1.56 | -0.20 | 0.26 | 1.12 | 0.63 | 2.42 | -0.56 | 1.94 | 0.75 | 1.63 |
| Weighted Average OS | 29.62M | 29.62M | 29.62M | 18.84M | 18.83M | 18.82M | 18.81M | 18.66M | 18.76M | 18.80M | 18.86M | 18.70M | 18.79M | 18.74M | 18.68M | 18.66M |
| EBITDA | $13.99M | $61.46M | $8.21M | -$59.7M | $18.4M | $6.04M | $29.3M | -$3.73M | $4.88M | $0 | $11.89M | $45.38M | -$10.56M | $36.84M | $14.68M | $31.05M |
| EBITDA Margin | 84.6% | 496.8% | 61.9% | 108.3% | 92.3% | 33.9% | 82.1% | -136.3% | 47.1% | - | 73.4% | 94.1% | 126.4% | 94.9% | 89.5% | 94.7% |
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 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | 2020-10-31 | 2019-10-31 | 2018-10-31 | 2017-10-31 | 2016-10-31 | 2015-10-31 | 2014-10-31 | 2013-10-31 | 2012-10-31 | 2011-10-31 | 2010-10-31 |
| Assets | ||||||||||||||||
| Current Assets | ||||||||||||||||
| Cash and Cash Equivalents | $55K | $12.06M | $100K | $6.81M | $122K | $688K | $49K | $88K | $92K | $76K | $65K | $0 | $68K | $92K | $207K | $29K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $55K | $12.06M | $100K | $6.81M | $122K | $688K | $49K | $88K | $92K | $76K | $65K | $0 | $68K | $92K | $207K | $29K |
| Accounts Receivable | $9.39M | $9.35M | $8.43M | $5.08M | $6.46M | $5.8M | $6.42M | $6.47M | $7.41M | $7.14M | $7.45M | $10.47M | $6.98M | $7.26M | $8.07M | $7.71M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$9.44M | -$9.35M | $0 | $0 | $0 | -$6.49M | $0 | -$6.55M | -$7.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $55K | $12.06M | $8.53M | $11.9M | $6.59M | $0 | $6.47M | $6.55M | $7.5M | $7.21M | $7.52M | $10.47M | $7.05M | $7.36M | $8.28M | $7.74M |
| Long-Term Assets | ||||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $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 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $560.04M | $565.5M | $546.13M | $363.88M | $446.21M | $444.43M | $454.7M | $447.73M | $467.48M | $478.47M | $471.2M | $477.88M | $449.98M | $477.02M | $450.26M | $452.25M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$447.73M | -$467.48M | -$478.47M | -$471.2M | -$477.88M | -$449.98M | -$477.02M | -$450.26M | -$452.25M |
| Total Long-Term Assets | $569.46M | $565.5M | $546.13M | $363.88M | $446.21M | $444.43M | $454.7M | $447.73M | $467.48M | $478.47M | $471.2M | $477.88M | $449.98M | $477.02M | $450.26M | $452.25M |
| Other Assets | $569.51M | $9.38M | $23K | $21K | $22K | $450.94M | $20K | $19K | $19K | $170K | $224K | $280K | $24K | $21K | $25K | $22K |
| Total Assets | $569.51M | $586.93M | $554.69M | $375.8M | $452.82M | $450.94M | $461.18M | $454.31M | $475M | $485.86M | $478.94M | $488.63M | $457.05M | $484.4M | $458.56M | $460.02M |
| Liabilities | ||||||||||||||||
| Current Liabilities | ||||||||||||||||
| Accounts Payable | $3.33M | $6.17M | $9.76M | $1.63M | $1.83M | $2.67M | $2.2M | $1.6M | $4.01M | $4.23M | $1.85M | $6.57M | $4.44M | $5.47M | $1.31M | $1.34M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $3.79M | -$277K | $10.48M | -$190K | -$225K | -$230K | -$218K | -$1.82M | -$4.23M | -$231K | -$225K | -$227K | -$214K | -$203K | -$175K | -$156K |
| Total Current Liabilities | $3.79M | $6.17M | $9.96M | $1.63M | $1.83M | $2.67M | $2.2M | $1.6M | $4.01M | $4.23M | $1.85M | $6.57M | $4.44M | $5.47M | $1.31M | $1.34M |
| Long-Term Liabilities | ||||||||||||||||
| Long-Term Debt | $227.9M | $0 | $227.9M | $165.7M | $170.39M | $170.38M | $170.36M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $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 | $0 | $0 |
| Other Long-Term Liabilities | -$227.9M | $228.49M | $228.62M | $166.03M | -$170.39M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $228.09M | $228.49M | $227.9M | $1.63M | $1.83M | $173.39M | $2.2M | $1.6M | $4.01M | $4.23M | $1.85M | $6.57M | $4.44M | $5.47M | $1.31M | $1.34M |
| Other Liabilities | $227.9M | $234.66M | $526K | $164.39M | $168.92M | -$173.39M | $168.55M | $178.1M | $175.68M | $175.55M | $177.93M | $173.19M | $175.31M | $174.24M | $178.43M | $178.44M |
| Total Liabilities | $231.69M | $234.66M | $238.38M | $167.66M | $172.58M | $173.39M | $172.95M | $181.31M | $183.7M | $184.01M | $181.64M | $186.32M | $184.18M | $185.18M | $181.05M | $181.12M |
| Stockholders' Equity | ||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $398.33M | $402.9M | $404.69M | $258.48M | $258.37M | $258.12M | $257.95M | $257.97M | $258.32M | $267.71M | $267.61M | $267.8M | $267.75M | $0 | $0 | $0 |
| Retained Earnings | -$60.5M | -$50.63M | -$88.39M | -$50.34M | $21.87M | $19.43M | $30.29M | $15.03M | $5.63M | $7.29M | $9.67M | $11.28M | $10.73M | -$3.34M | -$2.48M | -$5.57M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $27.34M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $0 | $0 | $0 | -$1 | $0 | $0 | $0 | $0 | $27.34M | $26.85M | $20.02M | $23.23M | -$5.61M | $302.56M | $280M | $284.47M |
| Total Equity | $337.83M | $352.28M | $316.31M | $208.14M | $280.23M | $277.55M | $288.23M | $273M | $291.3M | $301.85M | $297.3M | $302.31M | $272.87M | $299.22M | $277.52M | $278.9M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $569.51M | $586.93M | $554.69M | $375.8M | $452.82M | $450.94M | $461.18M | $454.31M | $475M | $485.86M | $478.94M | $488.63M | $457.05M | $484.4M | $458.56M | $460.02M |
| Supplementary Data | ||||||||||||||||
| Total Debt | $227.9M | $227.9M | $227.9M | $165.7M | $170.39M | $170.38M | $170.36M | $179.36M | $179.31M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Debt | $227.84M | -$12.06M | $227.8M | $158.89M | $170.27M | $169.69M | $170.32M | $179.27M | $179.21M | -$76K | -$65K | $0 | -$68K | -$92K | -$207K | -$29K |
Cash Flow Statement
| Period | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2023-10-31 | 2022-10-31 | 2021-10-31 | 2020-10-31 | 2019-10-31 | 2018-10-31 | 2017-10-31 |
| Operating Activities | |||||||
| Net Income | $2.13M | -$59.7M | $16.52M | $3.23M | $29.3M | -$3.73M | $4.88M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Non-Cash Items | -$2.13M | $59.7M | -$16.52M | -$3.23M | -$29.3M | $3.73M | -$4.88M |
| Net Cash from Operating | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Investing Activities | |||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | |||||||
| Debt Repaid | - | - | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$6.71M | $6.69M | -$566K | $640K | -$39K | -$4K | $0 |
| Supplementary Data | |||||||
| Operating Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at Beginning | $6.81M | $122K | $688K | $49K | $88K | $92K | $0 |
| Cash at End | $100K | $6.81M | $122K | $688K | $49K | $88K | $0 |