Neuberger Berman Municipal Fund Inc. (NBH) Key Metrics
NBH valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $263.3M
- Enterprise value
- $499.4M
- P/E (TTM)
- 13.3 10-yr median 37.4
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 9.7 10-yr median 25.9
- Price / book
- 0.8 10-yr median 0.9
- EV / EBITDA
- — 10-yr median 34.4
- Dividend yield
- 7.31% $0.65 a year
- Beta
- 0.67
NBH key metrics, FY2016–FY2025
Fiscal year ended October 31, 2025 · U.S. dollarsNBH valuation Price multiples at each fiscal year-end price.
NBH returns How much profit the business earns on the capital it uses.
NBH per-share figures Results divided by the shares outstanding at year-end.
NBH financial health Debt, liquidity and how easily interest is covered.
NBH efficiency & capital use Working capital cycle and where the cash goes.
NBH valuation history
NBH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NBH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NBH price vs earnings per share
NBH key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $305.4M | $321.1M | $262.4M | $181.6M | $286.7M | $266.3M | $292.8M | $235.6M | $279.9M | $288.4M |
| Enterprise value | $533.2M | $536.9M | $490.2M | $340.5M | $456.9M | $436.0M | $463.1M | $414.8M | $459.1M | $647.1M |
| P/E ratio | 63.6 | 6.3 | 122.9 | — | 17.3 | 82.4 | 10.0 | — | 57.4 | 13.7 |
| Price / sales | 18.5 | 25.9 | 26.3 | — | 14.4 | 34.1 | 8.2 | 86.0 | 27.0 | 11.1 |
| Price / book | 0.9 | 0.9 | 0.8 | 0.9 | 1.0 | 1.0 | 1.0 | 0.9 | 1.0 | 1.0 |
| EV / sales | 32.2 | 43.4 | 49.1 | — | 22.9 | 55.9 | 13.0 | 151.5 | 44.3 | 24.9 |
| EV / EBITDA | 38.1 | 8.7 | 229.6 | — | 27.7 | 135.0 | 15.8 | — | 94.1 | 30.7 |
| Earnings yield | 1.6% | 16.0% | 0.8% | −32.9% | 5.8% | 1.2% | 10.0% | −1.6% | 1.7% | 7.3% |
| Share price at fiscal year-end | $10.31 | $10.84 | $8.86 | $9.64 | $15.22 | $14.15 | $15.57 | $12.62 | $14.92 | $15.34 |
| Per share | ||||||||||
| Revenue per share | $0.56 | $0.42 | $0.34 | $0.00 | $1.06 | $0.41 | $1.90 | $0.15 | $0.55 | $1.38 |
| Earnings per share | $0.16 | $1.73 | $0.07 | −$3.17 | $0.88 | $0.17 | $1.56 | −$0.20 | $0.26 | $1.12 |
| Cash per share | $0.00 | $0.41 | $0.00 | $0.36 | $0.01 | $0.04 | $0.00 | $0.00 | $0.00 | $0.00 |
| Book value per share | $11.41 | $11.89 | $10.68 | $11.05 | $14.88 | $14.75 | $15.33 | $14.63 | $15.53 | $16.06 |
| Tangible book value per share | $11.41 | $11.89 | $10.68 | $11.05 | $14.88 | $14.75 | $15.33 | $14.63 | $15.53 | $16.06 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $7.69 | $7.69 | $7.69 | $8.79 | $9.05 | $9.05 | $9.06 | $9.61 | $9.56 | $19.09 |
| Shares outstanding | 29.6M | 29.6M | 29.6M | 18.8M | 18.8M | 18.8M | 18.8M | 18.7M | 18.8M | 18.8M |
| Change in shares outstanding | 0.0% | 0.0% | +57.2% | +0.0% | +0.1% | +0.1% | +0.8% | −0.5% | −0.2% | −0.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 1.4% | 15.4% | 0.8% | −24.4% | 5.9% | 1.1% | 10.4% | −1.3% | 1.6% | 7.0% |
| Return on invested capital (ROIC) | 1.9% | 8.7% | 0.2% | −11.5% | 1.8% | 0.4% | 3.2% | −0.6% | 0.4% | 3.2% |
| Return on assets (ROA) | 0.8% | 9.0% | 0.5% | −14.4% | 3.7% | 0.7% | 6.4% | −0.8% | 1.0% | 4.4% |
| Return on tangible assets | 0.8% | 8.7% | 0.4% | −15.9% | 3.6% | 0.7% | 6.4% | −0.8% | 1.0% | 4.3% |
| Financial health | ||||||||||
| Total debt | $227.9M | $227.9M | $227.9M | $165.7M | $170.4M | $170.4M | $170.4M | $179.4M | $179.3M | $358.8M |
| Cash & short-term investments | $55,359 | $12.1M | $99,898 | $6.8M | $122,329 | $688,105 | $48,576 | $88,000 | $92,000 | $76,000 |
| Net debt | $227.8M | $215.8M | $227.8M | $158.9M | $170.3M | $169.7M | $170.3M | $179.3M | $179.2M | $358.7M |
| Debt / equity | 0.67 | 0.65 | 0.72 | 0.80 | 0.61 | 0.61 | 0.59 | 0.66 | 0.62 | 1.19 |
| Debt / assets | 0.40 | 0.39 | 0.41 | 0.44 | 0.38 | 0.38 | 0.37 | 0.39 | 0.38 | 0.74 |
| Net debt / EBITDA | 16.29 | 3.51 | 106.71 | — | 10.30 | 52.54 | 5.81 | — | 36.75 | 17.04 |
| Current ratio | 0.01 | 1.96 | 0.86 | 7.29 | 3.59 | 2.43 | 2.94 | 4.09 | 1.87 | 1.71 |
| Quick ratio | 0.01 | 1.96 | 0.86 | 7.29 | 3.59 | 2.43 | 2.94 | 4.09 | 1.87 | 1.71 |
| Interest coverage | 1.5 | 6.1 | — | — | — | 1.1 | 6.4 | -0.8 | 1.3 | — |
| Working capital | −$3.7M | $5.9M | −$1.4M | $10.3M | $4.8M | $3.8M | $4.3M | $5.0M | $3.5M | $3.0M |
| Invested capital | $565.7M | $568.1M | $544.1M | $367.0M | $450.5M | $447.2M | $458.5M | $452.3M | $470.5M | $660.6M |
| Tangible asset value | $337.8M | $352.3M | $316.3M | $208.1M | $280.2M | $277.6M | $288.2M | $273.0M | $291.3M | $301.8M |
| Net current asset value | −$231.6M | −$222.6M | −$229.9M | −$155.8M | −$166.0M | −$166.9M | −$166.5M | −$174.8M | −$176.2M | −$176.8M |
| Graham number | $6.45 | $21.54 | $4.16 | — | $17.14 | $7.55 | $23.18 | — | $9.53 | $20.12 |
| Graham net-net per share | −$7.58 | −$7.28 | −$7.83 | −$8.33 | −$8.90 | −$8.95 | −$8.94 | −$9.45 | −$9.49 | −$9.50 |
| Capital allocation | ||||||||||
| Capex / revenue | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / depreciation | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| R&D / revenue | — | — | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| SG&A / revenue | 14.6% | 21.8% | 17.4% | — | 8.7% | 22.3% | 5.1% | 65.2% | 17.9% | 7.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 206.8 | 262.3 | 247.3 | — | 112.4 | 286.0 | 65.9 | 924.5 | 256.3 | 102.6 |
| Days payables outstanding | 500.2 | 846.6 | 933.4 | 253.9 | 290.8 | 319.7 | 239.3 | 357.4 | 514.3 | 357.1 |
| Cash conversion cycle (days) | -293.4 | -584.3 | -686.1 | — | -178.5 | -33.8 | -173.4 | 567.1 | -258.0 | -254.5 |
| Receivables turnover | 1.77 | 1.39 | 1.48 | 0.00 | 3.25 | 1.28 | 5.54 | 0.39 | 1.42 | 3.56 |
| Payables turnover | 0.73 | 0.43 | 0.39 | 1.44 | 1.25 | 1.14 | 1.53 | 1.02 | 0.71 | 1.02 |
| Asset turnover | 0.03 | 0.02 | 0.02 | 0.00 | 0.04 | 0.02 | 0.08 | 0.01 | 0.02 | 0.05 |
| Average receivables | $9.4M | $8.9M | $6.8M | $5.8M | $6.1M | $6.1M | $6.4M | $6.9M | $7.3M | $7.3M |
| Average payables | $4.7M | $8.0M | $5.7M | $1.7M | $2.3M | $2.4M | $1.9M | $2.8M | $4.1M | $3.0M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from NBH's annual financial statements (latest annual report filed October 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NBH valuation and financial ratios
At the end of fiscal 2025 (October 31, 2025), Neuberger Berman Municipal Fund traded at 63.6 times earnings, against a 10-year median of 37.4. Based on the latest twelve months, the trailing P/E is 13.3. Neuberger Berman Municipal Fund earned a return on equity of 1.4% and a return on invested capital of 1.9% in fiscal 2025. It ended the year with $227.9 million of debt and $0.1 million in cash and short-term investments, net debt of $227.8 million. The share count rose 57.6% from 18.8M to 29.6M over 9 years.
See the NBH income statement, the NBH chart for price history, or the NBH stock overview for the latest quote and news.
NBH key metrics FAQ
What is Neuberger Berman Municipal Fund's P/E ratio?
Neuberger Berman Municipal Fund's trailing P/E ratio is 13.3 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was 63.6, compared with a 10-year median of 37.4.
What is Neuberger Berman Municipal Fund's EV/EBITDA?
Neuberger Berman Municipal Fund's enterprise value was 38.1 times EBITDA at the end of fiscal 2025 (enterprise value $533.2 million, EBITDA $14.0 million).
What is Neuberger Berman Municipal Fund's return on equity?
Neuberger Berman Municipal Fund's return on equity (ROE) was 1.4% in fiscal 2025: net income of $4.8 million on average shareholders' equity of $345.1 million.
What is Neuberger Berman Municipal Fund's ROIC?
Neuberger Berman Municipal Fund's return on invested capital was 1.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Neuberger Berman Municipal Fund have?
Neuberger Berman Municipal Fund had total debt of $227.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.67 and $227.8 million of net debt (16.29 times EBITDA).
What is Neuberger Berman Municipal Fund's current ratio?
Neuberger Berman Municipal Fund's current ratio was 0.01 at the end of fiscal 2025: current assets were 0.01 times current liabilities.