Neuberger Berman Municipal Fund Inc. (NBH) Income Statement
NBH FY2025 at a glance
Fiscal year ended October 31, 2025 · U.S. dollarsNBH revenue and net income
Where NBH's revenue goes
FY2025Each bar shows an amount and its share of revenue. NBH kept 29.1% of revenue as net income.
NBH profit margins
NBH growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +33.7% | — | +16.2% | +0.2% |
| Gross profit | +46.2% | — | +10.9% | −2.1% |
| Operating income | −77.2% | — | +34.1% | +1.6% |
| Net income | −90.6% | — | +8.3% | −8.7% |
| EPS (diluted) | −61.9% | — | −9.3% | −15.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NBH quarterly EPS vs estimates
Neuberger Berman Municipal Fund beat the analyst EPS estimate in 4 of the last 7 quarters.
NBH income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.5M | $12.4M | $10.0M | $0 | $19.9M | $7.8M | $35.7M | $2.7M | $10.4M | $25.9M |
| Cost of revenue | $3.5M | $3.4M | $2.2M | $2.5M | $2.8M | $2.8M | $2.9M | $2.9M | $2.9M | $3.1M |
| Gross profit | $13.1M | $8.9M | $10.0M | −$55.1M | $19.9M | $7.8M | $35.7M | $2.7M | $10.4M | $25.9M |
| Research & development | — | — | $0 | $4 | $1 | $0 | $2 | $0 | $0 | — |
| Sales, general & admin | $2.4M | $2.7M | $1.7M | $1.6M | $1.7M | $1.7M | $1.8M | $1.8M | $1.9M | $2.0M |
| Total operating expenses | −$915,023 | $12.9M | $7.8M | $4.6M | $3.4M | $4.6M | $6.4M | $6.5M | $5.5M | $4.9M |
| Operating income | $14.0M | $61.5M | $2.1M | −$59.7M | $16.5M | $3.2M | $29.3M | −$3.7M | $4.9M | $21.1M |
| Interest income | $27.8M | $27.3M | $17.1M | $17.2M | $18.2M | $18.4M | $16.8M | $16.6M | $9.0M | $6.7M |
| Interest expense | $9.2M | $10.1M | $160 | $986 | $1,900 | $2.8M | $4.6M | $4.7M | $3.7M | $5,000 |
| Income before taxes | $4.8M | $51.3M | $2.1M | −$59.7M | $16.5M | $3.2M | $29.3M | −$3.7M | $4.9M | $21.1M |
| Income taxes | — | — | $8.2M | −$56.8M | $18.2M | $6.0M | $33.9M | −$4.8M | $8.5M | −$22,816 |
| Net income | $4.8M | $51.3M | $2.1M | −$59.7M | $16.5M | $3.2M | $29.3M | −$3.7M | $4.9M | $21.1M |
| EBITDA | $14.0M | $61.5M | $2.1M | −$59.7M | $16.5M | $3.2M | $29.3M | −$3.7M | $4.9M | $21.1M |
| EPS (diluted) | $0.16 | $0.42 | $0.07 | −$3.17 | $1.32 | $0.26 | $2.33 | −$0.30 | $0.91 | $0.52 |
| Gross margin | 79.0% | 72.2% | 100.0% | — | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 84.6% | 496.8% | 21.4% | — | 82.9% | 41.4% | 82.1% | −136.3% | 47.1% | 81.2% |
| Net margin | 29.1% | 414.9% | 21.4% | — | 82.9% | 41.4% | 82.1% | −136.3% | 47.1% | 81.1% |
| Apr '26 | Oct '25 | Apr '25 | Oct '24 | Apr '24 | Oct '23 | Apr '23 | Oct '22 | Apr '22 | Oct '21 | Apr '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.1M | $5.5M | $11.1M | $8.4M | $4.0M | $4.9M | $8.4M | $5.4M | $8.2M | $8.7M | $8.9M |
| Cost of revenue | $1.6M | $1.7M | $1.7M | $1.8M | $1.6M | $1.1M | $1.1M | $1.2M | $1.3M | $1.4M | $1.3M |
| Gross profit | $11.5M | $3.7M | $9.3M | $6.6M | $2.3M | $3.8M | $7.2M | $4.2M | $6.9M | $7.4M | $7.5M |
| Sales, general & admin | — | — | — | — | — | — | — | — | $18,460 | $14,960 | $21,510 |
| Total operating expenses | $3.0M | −$16.9M | $16.0M | −$10.9M | $23.7M | $21.2M | −$18.4M | $27.5M | $40.5M | $6.5M | −$9.8M |
| Operating income | $8.5M | $20.7M | −$6.7M | $17.5M | $44.0M | −$17.4M | $25.7M | −$23.2M | −$33.5M | $833,920 | $17.3M |
| Interest income | — | — | — | — | — | — | — | — | $40.7M | $6.6M | $9.5M |
| Interest expense | $4.2M | $4.3M | $4.8M | $5.1M | $5.1M | $3.4M | $2.7M | $2.0M | $959,259 | $809,794 | $826,119 |
| Income before taxes | $4.3M | $16.3M | −$11.5M | $12.4M | $38.9M | −$20.8M | $22.9M | −$25.2M | −$34.5M | $24,127 | $16.5M |
| Income taxes | — | — | — | — | — | −$1 | $1 | −$1 | −$86,065 | −$71,391 | −$55,805 |
| Net income | $4.3M | $16.3M | −$11.5M | $12.4M | $38.9M | −$20.8M | $22.9M | −$25.2M | −$34.5M | $24,127 | $16.5M |
| EBITDA | $8.5M | $20.7M | −$6.7M | $17.5M | $44.0M | −$17.4M | $25.7M | −$23.2M | −$33.5M | $833,920 | $17.3M |
| EPS (diluted) | — | $0.55 | −$0.39 | $0.42 | — | — | — | −$1.34 | −$1.83 | $0.00 | $0.88 |
| Gross margin | 87.9% | 68.1% | 84.2% | 78.7% | 58.6% | 77.5% | 86.6% | 77.9% | 84.3% | 84.3% | 84.8% |
| Operating margin | 64.8% | 377.4% | −60.6% | 207.7% | 1,112.4% | −355.6% | 306.5% | −429.0% | −407.0% | 9.5% | 195.5% |
| Net margin | 32.6% | 298.3% | −104.4% | 147.4% | 984.4% | −424.3% | 274.1% | −465.0% | −418.6% | 0.3% | 186.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NBH's financial statements (latest annual report filed October 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NBH financial results
In fiscal year 2025 (ended October 31, 2025), Neuberger Berman Municipal Fund reported revenue of $16.5 million, up 33.7% from the year before. It had net income of $4.8 million (down 90.6%), a net profit margin of 29.1%. Diluted earnings per share came to $0.16. Over five years revenue grew at an average rate of 16.2% a year.
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NBH income statement FAQ
What is Neuberger Berman Municipal Fund's annual revenue?
Neuberger Berman Municipal Fund reported total revenue of $16.5 million for fiscal year 2025, which ended on October 31, 2025. That was up 33.7% from $12.4 million the previous year.
Is Neuberger Berman Municipal Fund profitable?
Yes. Neuberger Berman Municipal Fund reported net income of $4.8 million in fiscal 2025, a net profit margin of 29.1%; its operating margin was 84.6%.
What is Neuberger Berman Municipal Fund's gross margin?
Neuberger Berman Municipal Fund's gross margin was 79.0% in fiscal 2025: for every $100 of revenue, Neuberger Berman Municipal Fund kept $79 after the direct cost of its products and services.
How fast is Neuberger Berman Municipal Fund growing?
Revenue grew 16.2% a year on average over the last five fiscal years, from $7.8 million to $16.5 million.
What are Neuberger Berman Municipal Fund's earnings per share?
Neuberger Berman Municipal Fund earned $0.16 per diluted share in fiscal 2025, compared with $0.42 a year earlier.
When does Neuberger Berman Municipal Fund's fiscal year end?
Neuberger Berman Municipal Fund's fiscal year ends in October. The latest annual report covers the year ended October 31, 2025 and was filed on October 31, 2025.