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PIMCO Dynamic Income Fund

PDI
56
Asset Management - Income · Financial Services
Price
$15.12
+0.13 (+0.87%)
Market Cap
$6.98B
Exchange
New York Stock Exchange
Winston Score
56
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Strong
Growth
Weak
Cash Flow
Good
Stability
Good
Valuation
Good
Dividends
Good

Share count rising — dilution

+422.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 65.6M (2021) → 343.0M (2025)

Winston Score History

The full picture

PIMCO Dynamic Income Fund (PDI) is a closed-end fund managed by PIMCO, one of the world's largest bond investment firms. The fund pools money from everyday investors and uses it to buy a mix of income-producing debt securities, including mortgage-backed bonds, corporate bonds, and government debt from around the world. Its main customers are individual investors looking for regular income payments, typically paid out as monthly dividends.

PDI makes money by earning interest on the bonds it holds, and it uses borrowed money (called leverage) to try to boost those returns. The fund trades on the New York Stock Exchange and invests globally, with significant exposure to U.S. and international credit markets. PIMCO's deep research team and long track record in fixed income give it a strong reputation, but the fund's use of leverage means rising interest rates or credit market stress can quickly reduce returns and put pressure on its dividend.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
90.7%
Premium pricing power — 90.7% gross margin
Profit after running costs
Operating Margin
86.1%
Excellent — 86.1% operating margin
Return on the money invested
ROCE
6.8%
Weak — 6.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
-7.2%
Shrinking sales (-7.2% YoY)
Profit growth
EPS YoY
-6.8%
Earnings shrinking (-6.8% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
42%
Weak — only 42% of profit becomes cash
Spare cash per sale
FCF Margin
34.6%
Converts sales into free cash efficiently (34.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.94
Moderate — manageable debt (0.94)
Covers its interest
Interest Cover
6.30x
Adequate interest coverage (6.3x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
7.3x
Attractive valuation — P/E 7.3

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
17.50%
Healthy income — 17.50% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
+0.0%
Dividend flat

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