BlackRock California Municipal Income Closed Fund (BFZ) - Net Assets
Based on the latest financial reports, BlackRock California Municipal Income Closed Fund (BFZ) has net assets worth $341.50 Million USD as of July 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($617.32 Million) and total liabilities ($275.83 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check BlackRock California Municipal Income Cl strategic capital allocation to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $341.50 Million |
| % of Total Assets | 55.32% |
| Annual Growth Rate | -0.26% |
| 5-Year Change | -33.13% |
| 10-Year Change | -34.5% |
| Growth Volatility | 25.65 |
BlackRock California Municipal Income Closed Fund - Net Assets Trend (2007–2025)
This chart illustrates how BlackRock California Municipal Income Closed Fund's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see BFZ market cap overview.
Annual Net Assets for BlackRock California Municipal Income Closed Fund (2007–2025)
The table below shows the annual net assets of BlackRock California Municipal Income Closed Fund from 2007 to 2025. Also explore BlackRock California Municipal Income Cl equity growth rate to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-07-31 | $341.50 Million | -11.66% |
| 2024-07-31 | $386.59 Million | -35.73% |
| 2023-07-31 | $601.47 Million | +44.15% |
| 2022-07-31 | $417.25 Million | -18.29% |
| 2021-07-31 | $510.66 Million | +2.06% |
| 2020-07-31 | $500.35 Million | +2.83% |
| 2019-07-31 | $486.59 Million | +3.00% |
| 2018-07-31 | $472.41 Million | -3.46% |
| 2017-07-31 | $489.33 Million | -6.14% |
| 2016-07-31 | $521.34 Million | +3.24% |
| 2015-07-31 | $504.97 Million | +0.09% |
| 2014-07-31 | $504.53 Million | +9.14% |
| 2013-07-31 | $462.27 Million | +75.40% |
| 2009-07-31 | $263.56 Million | -15.69% |
| 2008-07-31 | $312.62 Million | -12.66% |
| 2007-07-31 | $357.93 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to BlackRock California Municipal Income Closed Fund's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 717.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (July 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $413.14 Million | 120.98% |
| Total Equity | $341.50 Million | 100.00% |
BlackRock California Municipal Income Closed Fund Competitors by Market Cap
The table below lists competitors of BlackRock California Municipal Income Closed Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Timbercreek Financial Corp
TO:TF
|
$330.44 Million |
|
Electrovaya Inc.
TO:ELVA
|
$330.44 Million |
|
Chengdu Shengbang Seals Co.Ltd.
SHE:301233
|
$330.59 Million |
|
Hyundai Motor Securities Co. Ltd.
KO:001500
|
$330.62 Million |
|
NL Industries Inc
NYSE:NL
|
$330.07 Million |
|
Radiant Logistics Inc
NYSE MKT:RLGT
|
$329.99 Million |
|
BIG TECHNOLOGIES LS-10
F:7I8
|
$329.67 Million |
|
Liton Technology
TWO:6175
|
$329.66 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in BlackRock California Municipal Income Closed Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 386,592,273 to 341,496,538, a change of -45,095,735 (-11.7%).
- Net loss of 23,810,674 reduced equity.
- Dividend payments of 22,960,205 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-23.81 Million | -6.97% |
| Dividends Paid | $22.96 Million | -6.72% |
| Other Changes | $1.68 Million | +0.49% |
| Total Change | $- | -11.66% |
Book Value vs Market Value Analysis
This analysis compares BlackRock California Municipal Income Closed Fund's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.98x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.77x to 0.98x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-07-31 | $14.50 | $11.11 | x |
| 2014-07-31 | $15.83 | $11.11 | x |
| 2015-07-31 | $15.84 | $11.11 | x |
| 2016-07-31 | $383334808.09 | $11.11 | x |
| 2017-07-31 | $15.29 | $11.11 | x |
| 2018-07-31 | $14.85 | $11.11 | x |
| 2019-07-31 | $15.25 | $11.11 | x |
| 2020-07-31 | $15.86 | $11.11 | x |
| 2021-07-31 | $16.29 | $11.11 | x |
| 2022-07-31 | $13.41 | $11.11 | x |
| 2023-07-31 | $13.03 | $11.11 | x |
| 2024-07-31 | $12.86 | $11.11 | x |
| 2025-07-31 | $11.36 | $11.11 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently BlackRock California Municipal Income Closed Fund utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -6.97%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -92.96%
- • Asset Turnover: 0.04x
- • Equity Multiplier: 1.81x
- Recent ROE (-6.97%) is below the historical average (1.27%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 1.88% | 35.42% | 0.05x | 1.00x | $-29.07 Million |
| 2008 | -0.39% | -7.73% | 0.05x | 1.10x | $-32.47 Million |
| 2009 | -1.79% | -26.01% | 0.06x | 1.22x | $-31.07 Million |
| 2013 | -6.10% | -76.54% | 0.05x | 1.72x | $-74.43 Million |
| 2014 | 14.23% | 203.03% | 0.04x | 1.60x | $21.35 Million |
| 2015 | 5.56% | 81.65% | 0.04x | 1.66x | $-22.44 Million |
| 2016 | 8.94% | 106.84% | 0.05x | 1.70x | $-5.51 Million |
| 2017 | -1.57% | 0.00% | -0.01x | 1.72x | $-56.61 Million |
| 2018 | 0.94% | 93.40% | 0.01x | 1.74x | $-42.79 Million |
| 2019 | 7.56% | 99.07% | 0.04x | 1.74x | $-11.88 Million |
| 2020 | 6.64% | 99.11% | 0.04x | 1.63x | $-16.81 Million |
| 2021 | 5.52% | 98.85% | 0.03x | 1.62x | $-22.86 Million |
| 2022 | -17.38% | 0.00% | -0.10x | 1.66x | $-114.24 Million |
| 2023 | 0.12% | 42.98% | 0.00x | 1.53x | $-38.94 Million |
| 2024 | 3.11% | 48.21% | 0.04x | 1.54x | $-26.65 Million |
| 2025 | -6.97% | -92.96% | 0.04x | 1.81x | $-57.96 Million |
Industry Comparison
This section compares BlackRock California Municipal Income Closed Fund's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $551,643,441
- Average return on equity (ROE) among peers: -41.37%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| BlackRock California Municipal Income Closed Fund (BFZ) | $341.50 Million | 1.88% | 0.81x | $330.10 Million |
| Acadian Asset Management Inc (AAMI) | $87.10 Million | 97.59% | 7.07x | $3.22 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.55 Billion | 15.37% | 0.00x | $3.30 Billion |
| Associated Capital Group Inc (AC) | $913.08 Million | 4.10% | 0.03x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $134.30 Million | -18.79% | 0.03x | $265.69 Million |
| AFC Gamma Inc (AFCG) | $175.57 Million | -11.78% | 0.57x | $77.32 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $1.40 Million | -229.54% | 1.40x | $194.14 Million |
| Alpha Compute Corp (ALP) | $4.85 Million | -51.03% | 0.55x | $5.62 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $782.49 Million | -21.16% | 0.62x | $330.96 Million |
| Amber International Holding Limited (AMBR) | $14.38 Million | -201.69% | 2.45x | $92.17 Million |
| Affiliated Managers Group, Inc. (AMG) | $1.85 Billion | 3.21% | 0.83x | $9.40 Billion |
About BlackRock California Municipal Income Closed Fund
BlackRock California Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc. It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds that are exempt from regular federal and California income taxes. BlackRock California Municipal Income Trust was formed on July 31, 2001 and i… Read more