Invesco California Value Municipal Income Trust (VCV)
The Invesco California Value Municipal Income Trust is a closed-end investment vehicle established by Invesco Ltd. Its management responsibilities are shared among several Invesco affiliates, specifically 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 primarily allocates capital to investment-grade municipal debt securities originating from California, operating within the broader U.S. fixed-income market. These holdings encompass a range of instruments such as municipal bonds, notes, commercial paper, and lease obligations. Portfolio construction relies on a methodology that integrates fundamental analysis with a bottom-up security selection process. Originally, it operated under the name Invesco Van Kampen California Value Municipal Income Trust. Established in the United States on April 30, 1993, the fund remains domiciled there.
Industry: Asset Management - Income
Invesco California Value Municipal Income Trust
NYSE:VCVFinancial Services · Asset Management - Income
-2.00%$8.84
AH Close$8.84+0.00%vs close
AH Close$8.84+0.00%vs close
Mkt Cap$434.17M
Float35.07M
O/S49.11M
Inst Own17.6%
Div Yield8.77%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$33.05M
Net Income$12.37M
Total Assets$829.41M
Free Cash Flow$18.3M
Debt & Equity
Debt 38%
Equity 62%
Total Debt$314.1M
Total Equity$510.67M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in VCV's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$829.41M
Liabilities$318.74M
Accounts Receivable$9.04M
Accounts Payable$2.47M
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 | $33.05M | $31.8M | $38.82M | -$72.26M | $17K | $4.6M | $78.8M | $20.5M | $18.39M | $42.54M | $41.22M | $44.66M | $44.72M | $34.63M |
| YoY Growth | 3.9% | -18.1% | -153.7% | -426516.5% | -99.6% | -94.2% | 284.5% | 11.5% | -56.8% | 3.2% | -7.7% | -0.1% | 29.1% | - |
| Cost of Revenue | $4.69M | $13.7M | $15M | $5.11M | $5.71M | $10.51M | $14.43M | $13.19M | $13.66M | $10.66M | $6.99M | $9.17M | $8.92M | $0 |
| Gross Profit | $28.36M | $18.1M | $44.37M | -$77.37M | -$5.7M | -$5.92M | $64.37M | $7.3M | $4.73M | $31.88M | $34.23M | $35.49M | $35.8M | $34.63M |
| Gross Margin | 85.8% | 56.9% | 114.3% | 107.1% | -33609.0% | -128.8% | 81.7% | 35.6% | 25.7% | 74.9% | 83.0% | 79.5% | 80.1% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $337K | $570K | $323K | $313K | $184K | $349K | $366K | $405K | $434K | $5.45M | $4.45M | $3.48M | $3.27M | $3.37M |
| Other | $3.94M | $26K | $0 | -$74.17M | $38K | -$29.08M | $437K | $456K | $488K | -$669K | $8.98M | -$2.36M | -$2.4M | $0 |
| Total Operating Expenses | $4.28M | $596K | $338K | $344K | $222K | $371K | $437K | $528K | $620K | $38.05M | -$8.98M | $42.28M | $49.59M | $17.85M |
| Operating Income (EBIT) | $24.08M | $17.5M | $33.73M | $32.92M | $30.14M | $32.05M | $34.55M | $35.11M | $3.78M | $752K | $43.2M | $41.18M | $41.45M | $31.26M |
| Operating Margin | 72.9% | 55.0% | 86.9% | -45.6% | 177859.7% | 697.4% | 43.8% | 171.3% | 20.6% | 1.8% | 104.8% | 92.2% | 92.7% | 90.3% |
| Interest Expense | $11.7M | $13.7M | $15M | $10.3M | $3.52M | $4.71M | $8.54M | $7.28M | $7.48M | $0 | $9.34M | $45.89M | $0 | $2.97M |
| Interest Income | $37.71M | $38.46M | $38.82M | $38.23M | $35.92M | $37.95M | $40.45M | $41.14M | $44.76M | $5.47M | $0 | $0 | $3.25M | $0 |
| Other Income (Expense) | -$11.7M | -$13.7M | $10.3M | -$67.5M | $5.71M | $14.74M | $43.82M | -$15.14M | -$20.62M | -$38.08M | $2.94M | $42.44M | -$49.57M | $18.25M |
| Income Before Tax (EBT) | $12.37M | $17.5M | $44.03M | -$72.61M | -$205K | $4.22M | $78.37M | $19.97M | $17.77M | $752K | $43.2M | $83.62M | -$8.12M | $49.5M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10.41M | $38.83M | $40.26M | $0 | $0 | $15.27M |
| Net Income | $12.37M | $17.5M | $44.03M | -$72.61M | -$205K | $4.22M | $78.37M | $19.97M | $17.77M | $752K | $43.2M | $83.62M | -$8.12M | $49.43M |
| Net Income Margin | 37.4% | 55.0% | 113.4% | 100.5% | -1208.8% | 91.9% | 99.4% | 97.4% | 96.6% | 1.8% | 104.8% | 187.2% | -18.2% | 142.7% |
| Supplementary Data | ||||||||||||||
| EPS | 0.26 | 0.37 | 0.92 | -1.52 | -0.00 | 0.09 | 1.64 | 0.42 | 0.36 | 0.02 | 0.90 | 1.75 | -0.17 | 1.03 |
| Diluted EPS | 0.26 | 0.37 | 0.92 | -1.52 | -0.00 | 0.09 | 1.64 | 0.42 | 0.36 | 0.02 | 0.90 | 1.75 | -0.17 | 1.03 |
| Weighted Average OS | 48.51M | 47.89M | 47.86M | 47.89M | 47.89M | 47.87M | 47.87M | 47.54M | 47.87M | 47.87M | 47.86M | 47.86M | 47.86M | 47.86M |
| EBITDA | $24.08M | $17.5M | $33.73M | -$100.33M | -$32.75M | -$33.62M | $78.37M | $19.97M | $25.25M | $752K | $43.2M | $129.51M | -$48.49M | $52.48M |
| EBITDA Margin | 72.9% | 55.0% | 86.9% | 138.8% | -193233.1% | -731.7% | 99.4% | 97.4% | 137.3% | 1.8% | 104.8% | 290.0% | -108.4% | 151.5% |
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 | $8.27M | $7.86M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Investments | $0 | $0 | $0 | -$217.17M | -$270.62M | -$241.82M | -$233.43M | -$254.42M | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $0 | $8.27M | $7.86M | -$217.17M | -$270.62M | -$241.82M | -$233.43M | -$254.42M | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $9.04M | $8.56M | $8.53M | $16.98M | $9.89M | $9.89M | $10.1M | $10.35M | $15.6M | $17.21M | $13.71M | $14.62M | $11.69M | $13.38M |
| Inventory | $0 | $0 | $0 | $234.15M | $280.51M | $251.71M | $270.41M | $264.77M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$28K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10K | $0 | $0 | $166K |
| Total Current Assets | $9.04M | $16.84M | $16.39M | $16.98M | $9.89M | $9.89M | $10.1M | $10.35M | $15.6M | $17.21M | $13.71M | $14.62M | $11.69M | $13.55M |
| 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 | $820.28M | $838.08M | $866.41M | $871.71M | $990.78M | $1.01B | $1.01B | $975.93M | $1.02B | $691.02M | $1.03B | $703.92M | $675.24M | $1.03B |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $91K | $838.13M | $177.87M | -$217.17M | -$270.62M | -$241.82M | -$233.43M | -$254.42M | -$1.02B | $326.96M | $58K | $313.54M | $306.17M | $203K |
| Total Long-Term Assets | $820.37M | $838.13M | $1.04B | $654.54M | $720.16M | $764.84M | $778.56M | $721.51M | $1.02B | $1.02B | $1.03B | $1.02B | $981.4M | $1.03B |
| Other Assets | $0 | $0 | -$185.73M | $217.17M | $270.62M | $241.82M | $233.45M | $254.44M | $27K | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $829.41M | $854.97M | $874.94M | $888.69M | $1B | $1.02B | $1.02B | $986.3M | $1.04B | $1.04B | $1.04B | $1.03B | $993.1M | $1.04B |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $2.47M | $2.68M | $758K | $11.22M | $6.36M | $18.27M | $413K | $476K | $2.76M | $0 | $0 | $1.71M | $9.75M | $1.16M |
| Short-Term Debt | $1.87M | $0 | $1.22M | $1.7M | $958K | $2.08M | $1.93M | $1.54M | $0 | $3.04M | $3.32M | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | -$1.7M | -$958K | -$2.08M | -$1.93M | -$1.54M | -$2.46M | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$1.87M | $2.86M | $926K | -$14.62M | -$8.27M | -$22.42M | -$4.28M | -$3.56M | -$5.22M | $417K | $297K | $312K | $257K | $260K |
| Total Current Liabilities | $4.33M | $2.68M | $4.12M | $13.15M | $7.48M | $20.71M | $2.52M | $2.13M | $5.47M | $7.08M | $7.2M | $2.03M | $10.01M | $1.41M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $314.1M | $146.22M | $328.26M | $147.44M | $168.65M | $144.34M | $146.09M | $162.62M | $408.33M | $392.54M | $367.38M | $367.82M | $366.56M | $378.75M |
| 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 | $133K | $177.25M | -$328.26M | -$147.44M | -$168.65M | -$144.34M | -$146.09M | -$162.62M | -$408.33M | $145K | $161K | $154K | $154K | $159K |
| Total Long-Term Liabilities | $314.4M | $323.48M | $328.38M | $355.7M | $376.93M | $352.57M | $354.34M | $370.89M | $408.33M | $392.69M | $367.55M | $367.98M | $366.71M | $378.91M |
| Other Liabilities | $0 | $0 | -$1.97M | $129K | $137K | $148K | $145K | $146K | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $318.74M | $326.15M | $330.52M | $368.99M | $384.55M | $373.43M | $357.01M | $373.17M | $413.8M | $399.77M | $374.74M | $370M | $376.72M | $380.33M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5.31M | $0 | $0 |
| Common Stock | $554.72M | $564.11M | $578.22M | $579.09M | $580.75M | $580.44M | $580.28M | $581.49M | $586.36M | $592.97M | $625.99M | $654.44M | $657.78M | $658.25M |
| Retained Earnings | -$44.05M | -$35.3M | -$33.81M | -$59.38M | $35.37M | $62.68M | $84.82M | $31.64M | $1.86M | $42.45M | $41.39M | $7.65M | -$41.41M | $4.15M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $34.24M | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $34.24M | $0 | $0 | $0 | $0 | $0 |
| Total Equity | $510.67M | $528.81M | $544.41M | $519.7M | $616.12M | $643.12M | $665.1M | $613.14M | $622.46M | $635.43M | $667.39M | $662.09M | $616.37M | $662.4M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $829.41M | $854.97M | $874.94M | $888.69M | $1B | $1.02B | $1.02B | $986.3M | $1.04B | $1.04B | $1.04B | $1.03B | $993.1M | $1.04B |
| Supplementary Data | ||||||||||||||
| Total Debt | $314.1M | $146.22M | $329.48M | $147.44M | $168.65M | $144.34M | $146.09M | $162.62M | $200.07M | $392.54M | $367.38M | $367.82M | $366.56M | $378.75M |
| Net Debt | $314.1M | $137.95M | $321.62M | $147.44M | $168.65M | $144.34M | $146.09M | $162.62M | $200.07M | $392.54M | $367.38M | $367.82M | $366.56M | $378.75M |
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 | $12.37M | $17.5M | $44.03M | -$72.61M | -$205K | $4.22M | $78.37M | $19.97M | $17.77M | $752K | $43.2M | $83.62M | -$8.12M | $49.5M |
| 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 | -$69K | -$42K | $289K | $863K | $229K | $189K | $260K | $764K | -$423K | $671K | -$31K | -$172K | $404K | -$1.46M |
| 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 | $239K | $0 | $0 | $0 | $0 |
| Other Working Capital | -$23K | -$196K | -$7K | $526K | -$186K | -$5K | $13K | $94K | -$346K | $783K | -$39K | -$12K | -$8K | -$8.17M |
| Total Working Capital Change | -$93K | -$238K | $282K | $1.39M | $43K | $184K | $273K | $859K | -$346K | $783K | -$39K | -$185K | $396K | -$9.63M |
| Other Non-Cash Items | $6.02M | $30.23M | $2.93M | $115.52M | $3.74M | $23.41M | -$36.09M | $46.84M | -$1.93M | $33.06M | -$5.78M | -$46.74M | $57.93M | -$38.87M |
| Net Cash from Operating | $18.3M | $47.49M | $47.24M | $44.3M | $3.58M | $27.82M | $42.55M | $67.67M | $15.49M | $34.6M | $37.38M | $36.69M | $50.21M | $1M |
| 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 | -$112.03M | -$99.31M | -$98.36M | -$259.28M | -$121.17M | -$205.45M | -$80.48M | -$137.88M | -$147M | -$108.72M | -$111.62M | $0 | $0 | $0 |
| Sales of Investments | $145.67M | $135.88M | $151.49M | $318.26M | $103.98M | $204.08M | $97.2M | $173.84M | $131.18M | $81.96M | $109.27M | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $33.64M | $36.57M | $53.13M | $58.98M | -$17.19M | -$1.37M | $16.72M | $35.96M | -$15.81M | -$26.76M | -$2.34M | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||
| Debt Repaid | $9.1M | -$26.22M | $27.43M | $21.21M | -$24.31M | $1.76M | $16.52M | $37.45M | $4.18M | - | - | - | - | - |
| Common Stock Issuance | $4.32M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | -$45.41M | -$863K | -$1.66M | $0 | $0 | -$1.25M | -$927K | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$19.37M | -$18.82M | -$18.46M | -$22.17M | -$26.77M | -$26.2M | -$25.18M | -$28.37M | -$30.73M | -$32.72M | -$37.9M | -$37.83M | -$37.9M | -$28.93M |
| Other Financing Activities | -$14.24M | -$1.22M | -$863K | $745K | -$1.12M | $0 | $394K | -$916K | -$582K | $24.88M | $2.86M | $1.15M | -$12.31M | $27.93M |
| Net Cash from Financing | -$38.39M | -$39.22M | -$47.24M | -$44.3M | -$3.58M | -$27.82M | -$42.55M | -$67.67M | -$15.49M | -$7.84M | -$35.04M | -$36.69M | -$50.21M | -$1M |
| Forex Effect | -$21.82M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$8.27M | $8.27M | $0 | $58.98M | -$17.19M | -$1.37M | $16.72M | $35.96M | -$15.81M | $0 | $0 | $0 | $0 | $0 |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $18.3M | $47.49M | $47.24M | $44.3M | $3.58M | $27.82M | $42.55M | $67.67M | $15.49M | $34.6M | $37.38M | $36.69M | $50.21M | $1M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $18.3M | $47.49M | $47.24M | $44.3M | $3.58M | $27.82M | $42.55M | $67.67M | $15.49M | $34.6M | $37.38M | $36.69M | $50.21M | $1M |
| Cash at Beginning | $8.27M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at End | $0 | $8.27M | $22.1M | $58.98M | -$17.19M | -$1.37M | $16.72M | $35.96M | -$15.81M | $0 | $0 | $0 | $0 | $0 |