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PIMCO Dynamic Income Fund

PDI
55
Asset Management - Income · Financial Services
Price
$16.08
-0.15 (-0.92%)
Market Cap
$7.42B
Exchange
New York Stock Exchange
Winston Score
55
Winston is curious
A decent business — some strong pillars, some weaker.

Share count rising — dilution

+422.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 65.6M (2021) → 343.0M (2025)

The PIMCO Dynamic Income Fund (PDI) is a closed-end mutual fund specializing in fixed-income investments. It was inaugurated and is managed by Allianz Global Investors Fund Management LLC, with Pacific Investment Management Company LLC also contributing to its oversight. The fund aims to capitalize on opportunities within a wide array of global fixed-income markets. Its diversified portfolio spans various fixed-income sectors, notably encompassing non-agency residential and commercial mortgage-backed securities, alongside lower-rated, below investment-grade debt instruments. The fund's primary allocations are concentrated in mortgage-backed securities, corporate bonds across both investment-grade and high-yield categories, corporate debt from established and emerging nations, and sovereign bonds. This U.S.-domiciled fund commenced operations on May 30, 2012.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-6.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-20.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Research and development spending

Cash Position

Cash flow positive

$11.0B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

PIMCO Dynamic Income Fund's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
90.7%
Premium pricing power — 90.7% gross margin
Operating Margin
86.1%
Excellent — 86.1% operating margin
ROCE
3.7%
Weak — 3.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
-7.2%
Shrinking sales (-7.2% YoY)
EPS YoY
-6.8%
Earnings shrinking (-6.8% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion
42%
Weak — only 42% of profit becomes cash
FCF Margin
34.6%
Converts sales into free cash efficiently (34.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity
0.94
Moderate — manageable debt (0.94)
Interest Cover
6.30x
Adequate interest coverage (6.3x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)
7.8x
Attractive valuation — P/E 7.8

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend Yield
16.46%
Healthy income — 16.46% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend Growth
+0.0%
Dividend flat

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