Is CXE Stock Undervalued?

A comprehensive valuation analysis of Mfs High Income Municipal Trust (CXE) examining current multiples, intrinsic value, and comparing to analyst expectations.

Updated January 21, 2026•8 min read•View Full Analysis

Valuation Verdict

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Potentially Undervalued

5385479555.6% upside potential

Based on our analysis, Mfs High Income Municipal Trust appears to be potentially undervalued at the current price of $3.73. Our fair value estimate of $201147665.14 suggests upside potential of approximately 5385479555.6%.

Current Valuation Metrics

Valuation ratios help us understand how the market is pricing CXE relative to its fundamentals. Let's examine the key multiples investors are paying today.

P/E Ratio

54.00

High

P/B Ratio

0.96

Low

P/S Ratio

11.66

High

EV/EBITDA

N/A

Understanding the Metrics

P/E Ratio: At 54.00x earnings, CXE is trading above the typical market average of 15-20x.
P/B Ratio: A P/B of 0.96 means investors pay $0.96 for every $1 of book value.
P/S Ratio: The price-to-sales ratio of 11.66 indicates how much investors value each dollar of revenue.
EV/EBITDA: EBITDA data not available.

Fair Value Estimate

Using a discounted cash flow (DCF) model, we estimate the intrinsic value of Mfs High Income Municipal Trust stock. This fundamental analysis looks at the company's ability to generate future cash flows and discounts them back to today's value.

Current Price

$3.73

Fair Value Estimate

$201147665.14

Implied Return+5385479555.6%

Our DCF model suggests CXE may be undervalued by approximately 5385479555.6%. This implies the market may be pricing in more pessimistic growth expectations than our base case scenario.

Investment Conclusion

Bottom Line

Based on our comprehensive valuation analysis, Mfs High Income Municipal Trust (CXE) appears to be undervalued at $3.73. With a fair value estimate of $201147665.14, the stock offers potential upside for long-term investors willing to wait for the market to recognize its intrinsic value.

Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Always conduct your own research and consult with a financial advisor before making investment decisions. Past performance does not guarantee future results.