What is AFB P/E ratio?

AllianceBernstein National Municipal Income Fund's P/E ratio is 13.59. This is below the market average, suggesting the stock may be undervalued relative to earnings.

What is AFB return on equity (ROE)?

AllianceBernstein National Municipal Income Fund's return on equity (ROE) is 6.69%, indicating how efficiently the company generates profit from shareholders' equity. This is below the typical market average of 12-15%.

NYSE · Asset Management

AllianceBernstein National Municipal Income Fund (AFB) Stock

Q: What is AllianceBernstein National Municipal Income Fund (AFB) stock price today?

AllianceBernstein National Municipal Income Fund (AFB) is currently trading at $11.01, down 0.27% today.

Q: What is AllianceBernstein National Municipal Income Fund's market cap?

AllianceBernstein National Municipal Income Fund has a market capitalization of $316.48M.

$11.01 -0.27% NYSE: AFB Financial Services

AllianceBernstein National Municipal Income Fund, Inc. is a closed-ended fixed income mutual fund launched and managed by AllianceBernstein L.P.

Valuation

Metric	Value
Price	$11.01
Market Cap	$316.48M
P/E Ratio	13.59
P/B Ratio	0.92
P/S Ratio	17.08
EPS (TTM)	$0.81
52-Week High	$11.50
52-Week Low	$10.08
Dividend Yield	0.00%

Financials & Margins

Metric	Value
ROE	6.69%
ROA	4.03%
ROCE	-1.12%
Gross Margin	-13.70%
Operating Margin	-26.87%
Net Margin	125.66%
Debt/Equity	0.67
Current Ratio	0.07

Annual Financials (USD)

Metric	2021	2022	2023	2024	2025
Revenue	$26.0M	$22.0M	$5.0M	$18.0M	$14.0M
Operating Profit	$30.0M	$21.0M	$21.0M	$61.0M	$3.0M
Net Profit	$28.0M	$-98.0M	$-1.0M	$61.0M	$3.0M
EPS	$0.96	$-3.39	$-0.04	$2.13	$0.12
Op Margin	117.5%	96.7%	430.8%	347.0%	23.8%

Balance Sheet (USD)

Metric	2021	2022	2023	2024	2025
Total Assets	$700.0M	$595.0M	$545.0M	$606.0M	$588.0M
Total Liabilities	$261.0M	$270.0M	$234.0M	$244.0M	$238.0M
Cash	$0	$0	$0	$0	$0
Borrowings	$258.0M	$240.0M	$232.0M	$232.0M	$232.0M

Latest News

ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. REPORTS SECOND QUARTER EARNINGS PR Newswire · Jun 26, 2026 ALLIANCEBERNSTEIN CLOSED-END FUNDS ANNOUNCE DISTRIBUTION RATES PR Newswire · Jun 22, 2026 AllianceBernstein National Municipal Income Fund, Inc. RELEASES MONTHLY PORTFOLIO UPDATE PR Newswire · Jun 22, 2026 AllianceBernstein National Municipal Income Fund, Inc. and AllianceBernstein Global High Income Fund, Inc. Announcement Regarding Planned Merger of Equitable and Corebridge PR Newswire · May 11, 2026

Cash Flow (USD)

Metric	2021	2022	2023	2024	2025
Operating Cash Flow	$18.0M	$35.0M	$20.0M	$12.0M	$8.0M
Investing Cash Flow	$-3.0M	$11.0M	$18.0M	$-22.0M	$10.0M
Financing Cash Flow	$0	$0	$0	$-144.0M	$0
Net Cash Flow	$-3.0M	$11.0M	$0	$0	$0
Free Cash Flow	$18.0M	$35.0M	$20.0M	$12.0M	$8.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	0.02
EV / EBITDA	23.56
FCF Yield	4.16%
Quick Ratio	0.07
Interest Coverage	-1.08
Return 1Y	14.33%
Return 3Y	16.90%
Return 5Y	-8.99%

Ownership

Insiders Held0.01%

Institutions Held70.01%

Institutions Float Held70.02%

Institutional Holder	Shares	Report Date
Pathstone Holdings, LLC	3,088,392	2026-03-31
Karpus Management, Inc.	2,553,118	2026-03-31
Allspring Global Investments Holdings, LLC	1,464,577	2026-03-31
RiverNorth Capital Management, LLC	1,061,484	2026-03-31
Keybank National Association	962,374	2026-06-30

Peer Comparison

Ticker	Price	Change	P/E	Market Cap	Div Yield
ACVVirtus Diversified Income & Convertible Fund	$27.79	+1.20%	5.40	$288.91M	0.00%
BRWSaba Capital Income & Opportunities Fund	$6.70	+0.45%	5.15	$284.95M	15.22%
JGHNuveen Global High Income Fund	$12.53	-0.32%	9.56	$290.41M	9.90%
NANNuveen New York Quality Municipal Income Fund	$11.51	+0.09%	-15.35	$379.45M	7.12%
NCANuveen California Municipal Value Fund	$9.12	-1.30%	-43.43	$301.95M	3.95%

About AllianceBernstein National Municipal Income Fund

AllianceBernstein National Municipal Income Fund, Inc. is a closed-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. The fund invests in the fixed income markets of the United States. It primarily invests in investment-grade municipal securities which pay interest that is exempt from federal income tax. The fund seeks to invest in bonds rated Baa/BBB or higher. It employs both quantitative and fundamental analysis to create its portfolio. AllianceBernstein National Municipal Income Fund, Inc. was formed on November 9, 2001 and is domiciled in the United States.

AllianceBernstein National Municipal Income Fund is headquartered in US.

AllianceBernstein National Municipal Income Fund (AFB) stock trades at $11.01 with a market capitalization of $316.48M. The stock is valued at a price-to-earnings (P/E) ratio of 13.59, price-to-book of 0.92, price-to-sales of 17.08. Over the past 52 weeks the stock has ranged between $10.08 and $11.50, and currently trades 4.3% below its 52-week high.

On profitability, AllianceBernstein National Municipal Income Fund generates a return on equity (ROE) of 6.69%, return on capital employed of -1.12%, an operating margin of -26.87%, a net profit margin of 125.66%.

Official website: www.alliancebernstein.com/funds/us/closed-end/fixed-income/national-municipal-income-fund.htm