Nuveen Arizona Quality Municipal Income Fund

NAZNYSEFinancial Services● Active

$13.00

$-0.07(-0.54%)

Market Cap$166776077

P/E Ratio—

52W High$13.42

52W Low$11.49

Avg Volume22K

Open$13.13

Beta0.57

Free Cash Flow Financials Revenue

Nuveen Arizona Quality Municipal Income Fund (NAZ) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

NAZ · free cash flow · updated Jun 13, 2026

Core FCF metrics

NAZ · FCF · TTM · margin & CAGR

Free cash flow was $4.6M for FY2024 (fiscal year ending 2024-08-31), down 67.4% year-over-year The FCF margin was 50.9%. Five-year CAGR stands at -3.7%.

FY2024 Free Cash Flow$4.6M▼ -67.4% YoY

Trailing 12M (TTM)$3.8Mtrailing 4 quarters sum

FCF Margin50.9%$4.6M ÷ revenue

3-Year CAGR-13.7%FY2021 → FY2024

5-Year CAGR-3.7%FY2019 → FY2024

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 13, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

NAZ · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2024Latest$4.6M(0M)$4.6M▼ 67.4%50.9%

FY2024$14.2M(0M)$14.2M▲ +105.4%202.8%

FY2023$6.9M(0M)$6.9M▼ 4.1%108.6%

FY2022$7.2M(0M)$7.2M▲ +17.5%75.0%

FY2021$6.1M(0M)$6.1M▲ +9.9%58.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

NAZ · P/FCF · FCF yield · FCF per share

Nuveen Arizona Quality Municipal Income Fund (NAZ) trades at a FCF yield of -0.06% and a price-to-free-cash-flow ratio of 40.6x. FCF per share stands at $0.32, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

-0.06%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.32

TTM FCF ÷ Shares Outstanding

Price / FCF

x40.6

Share Price ÷ FCF per Share

EV / FCF (TTM)

x-2747.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2024 · 2024-08-31

Cash flow statement summary

NAZ · cash flow statement · operating / investing / financing

For FY2024, Nuveen Arizona Quality Municipal Income Fund generated $4.6M in operating cash flow and spent 0M in capital expenditures, yielding $4.6M in free cash flow.

Operating Activities

+$4.6M

Cash from core business operations

2024-08-31

Investing Activities

−$0.7M

CapEx, acquisitions & investments

2024-08-31

Financing Activities

−$1.4M

Buybacks, dividends & debt

2024-08-31

FCF FormulaOperating CF ($4.6M) − |CapEx| (0M) = FCF ($4.6M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

NAZ vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Nuveen Arizona Quality Municipal Income FundYOU

NAZ

$4.6M-67.4%52.7%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Nuveen Arizona Quality Municipal Income Fund (NAZ) reported free cash flow of $4.6M for FY2024 (fiscal year ending 2024-08-31), down 67.4% year-over-year. The FCF margin was 50.9%.

Based on available data, Nuveen Arizona Quality Municipal Income Fund has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $14.2M in FY2024. The 5-year CAGR stands at -3.7%.

Nuveen Arizona Quality Municipal Income Fund's FCF yield is -0.06% and price-to-FCF ratio is 40.6x for FY2024, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

NAZ free cash flow · 8 questions

Nuveen Arizona Quality Municipal Income Fund free cash flow was $4.6M for FY2024, down 67.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $3.8M.

NAZ free cash flowNAZ FCFNAZ FCF 2024NAZ free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Nuveen Arizona Quality Municipal Income Fund · Nuveen Arizona Quality Municipal Income Fund SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 13, 2026