MFS High Income Municipal Closed Fund (CXE) - Net Assets
Based on the latest financial reports, MFS High Income Municipal Closed Fund (CXE) has net assets worth $130.58 Million USD as of November 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($214.12 Million) and total liabilities ($83.53 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 financial resilience of MFS High Income Municipal Closed Fund to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $130.58 Million |
| % of Total Assets | 60.99% |
| Annual Growth Rate | -4.76% |
| 5-Year Change | -51.07% |
| 10-Year Change | -20.35% |
| Growth Volatility | 22.29 |
MFS High Income Municipal Closed Fund - Net Assets Trend (2006–2025)
This chart illustrates how MFS High Income Municipal Closed Fund's net assets have evolved over time, based on quarterly financial data. Also explore how large is MFS High Income Municipal Closed Fund's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for MFS High Income Municipal Closed Fund (2006–2025)
The table below shows the annual net assets of MFS High Income Municipal Closed Fund from 2006 to 2025. For live valuation and market cap data, see market cap of MFS High Income Municipal Closed Fund.
| Year | Net Assets | Change |
|---|---|---|
| 2025-11-30 | $130.58 Million | -4.66% |
| 2024-11-30 | $136.97 Million | +8.49% |
| 2023-11-30 | $126.26 Million | -1.98% |
| 2022-11-30 | $128.80 Million | -51.74% |
| 2021-11-30 | $266.88 Million | +62.21% |
| 2020-11-30 | $164.52 Million | -4.06% |
| 2019-11-30 | $171.48 Million | +4.98% |
| 2018-11-30 | $163.35 Million | -2.74% |
| 2017-11-30 | $167.95 Million | +2.44% |
| 2016-11-30 | $163.95 Million | -6.52% |
| 2015-11-30 | $175.39 Million | -0.09% |
| 2014-11-30 | $175.55 Million | +8.72% |
| 2013-11-30 | $161.47 Million | -11.33% |
| 2012-11-30 | $182.10 Million | -17.44% |
| 2008-11-30 | $220.58 Million | -28.32% |
| 2007-11-30 | $307.74 Million | -6.79% |
| 2006-11-30 | $330.15 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to MFS High Income Municipal 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 grown by 2316415500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (November 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $153.85 Million | 117.82% |
| Total Equity | $130.58 Million | 100.00% |
MFS High Income Municipal Closed Fund Competitors by Market Cap
The table below lists competitors of MFS High Income Municipal Closed Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Rajthanee Hospital Public Company Limited
BK:RJH
|
$116.17 Million |
|
Quintain Steel Co Ltd
TW:2017
|
$116.19 Million |
|
Apiam Animal Health Ltd
AU:AHX
|
$116.33 Million |
|
John Hancock Investors Closed Fund
NYSE:JHI
|
$116.39 Million |
|
INNATE PHARMA SP.ADR/1
F:IDDA
|
$116.15 Million |
|
Leap Therapeutics Inc
NASDAQ:LPTX
|
$116.14 Million |
|
Action Electronics Co Ltd
TW:3024
|
$116.14 Million |
|
Supreme Cable Manufacturing Corp
JK:SCCO
|
$116.13 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in MFS High Income Municipal Closed Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 136,970,850 to 130,583,755, a change of -6,387,095 (-4.7%).
- Net income of 75,688 contributed positively to equity growth.
- Dividend payments of 6,461,719 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $75.69K | +0.06% |
| Dividends Paid | $6.46 Million | -4.95% |
| Other Changes | $-1.06K | -0.0% |
| Total Change | $- | -4.66% |
Book Value vs Market Value Analysis
This analysis compares MFS High Income Municipal 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: 0.89x
- 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 0.64x to 0.89x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-11-30 | $5.78 | $3.69 | x |
| 2013-11-30 | $5.13 | $3.69 | x |
| 2014-11-30 | $5.57 | $3.69 | x |
| 2015-11-30 | $5.57 | $3.69 | x |
| 2016-11-30 | $5.20 | $3.69 | x |
| 2017-11-30 | $5.41 | $3.69 | x |
| 2018-11-30 | $5.12 | $3.69 | x |
| 2019-11-30 | $5.85 | $3.69 | x |
| 2020-11-30 | $6.17 | $3.69 | x |
| 2021-11-30 | $5.38 | $3.69 | x |
| 2022-11-30 | $4.09 | $3.69 | x |
| 2023-11-30 | $4.00 | $3.69 | x |
| 2024-11-30 | $4.34 | $3.69 | x |
| 2025-11-30 | $4.14 | $3.69 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently MFS High Income Municipal 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): 0.06%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.41%
- • Asset Turnover: 0.01x
- • Equity Multiplier: 1.64x
- Recent ROE (0.06%) is below the historical average (1.91%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 7.46% | 65.91% | 0.11x | 1.01x | $-8.38 Million |
| 2007 | -2.16% | -34.01% | 0.06x | 1.00x | $-37.41 Million |
| 2008 | -22.60% | -291.58% | 0.07x | 1.04x | $-71.90 Million |
| 2012 | 18.66% | 239.71% | 0.05x | 1.52x | $15.76 Million |
| 2013 | -6.52% | -75.17% | 0.06x | 1.58x | $-26.68 Million |
| 2014 | 13.64% | 174.39% | 0.05x | 1.53x | $6.39 Million |
| 2015 | 5.46% | 66.06% | 0.05x | 1.53x | $-7.96 Million |
| 2016 | 3.11% | 33.67% | 0.06x | 1.60x | $-11.30 Million |
| 2017 | 7.95% | 98.03% | 0.05x | 1.59x | $-3.44 Million |
| 2018 | 2.74% | 97.74% | 0.02x | 1.61x | $-11.86 Million |
| 2019 | 9.42% | 99.45% | 0.06x | 1.57x | $-987.88K |
| 2020 | 0.49% | 92.72% | 0.00x | 1.60x | $-15.65 Million |
| 2021 | 7.44% | 99.56% | 0.05x | 1.63x | $-4.34 Million |
| 2022 | -26.61% | 0.00% | -0.16x | 1.68x | $-47.15 Million |
| 2023 | 1.94% | 99.96% | 0.01x | 1.67x | $-10.17 Million |
| 2024 | 11.95% | 161.34% | 0.05x | 1.60x | $2.68 Million |
| 2025 | 0.06% | 2.41% | 0.01x | 1.64x | $-12.98 Million |
Industry Comparison
This section compares MFS High Income Municipal Closed Fund's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $896,093,866
- Average return on equity (ROE) among peers: -12.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| MFS High Income Municipal Closed Fund (CXE) | $130.58 Million | 7.46% | 0.64x | $116.17 Million |
| Acadian Asset Management Inc (AAMI) | $-21.60 Million | 0.00% | 0.00x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.79 Billion | 7.51% | 0.00x | $3.59 Billion |
| Associated Capital Group Inc (AC) | $878.25 Million | 1.16% | 0.08x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $304.00 Million | 32.66% | 0.17x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $1.40 Million | -229.54% | 1.40x | $194.14 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $83.45 Million | -7.38% | 0.39x | $359.65 Million |
| Affiliated Managers Group Inc (AMG) | $1.30 Billion | -0.10% | 1.49x | $8.37 Billion |
| Ameriprise Financial Inc (AMP) | $4.73 Billion | 54.05% | 36.05x | $41.87 Billion |
| AMTD IDEA Group (AMTD) | $632.43 Million | 16.58% | 4.38x | $42.91 Million |
| Artisan Partners Asset Management Inc (APAM) | $-736.58 Million | 0.00% | 0.00x | $2.60 Billion |
About MFS High Income Municipal Closed Fund
MFS High Income Municipal Trust is a close ended fixed income mutual fund launched and managed by Massachusetts Financial Services Company. The fund invests in the fixed income markets. It primarily invests in municipal bonds and local general obligations of various sectors, such as multifamily, hospitals, care retirement, and investor-owned utilities. The fund benchmarks the performance of its p… Read more