Pioneer High Income Fund, Inc.

PHTNYSEFinancial Services

$8.32

$-0.07(-0.83%)

Market Cap$244122403

P/E Ratio—

52W High$8.47

52W Low$6.62

Avg Volume317K

Open$8.38

Beta0.74

Overview

Pioneer High Income Fund, Inc. (PHT) Free Cash Flow & Analysis

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

PHT · free cash flow · updated Jun 9, 2026

Core FCF metrics

PHT · FCF · TTM · margin & CAGR

Free cash flow was $18.4M for FY2025 (fiscal year ending 2025-03-31), down 7.8% year-over-year The FCF margin was 69.0%. Five-year CAGR stands at -19.1%.

FY2025 Free Cash Flow$18.4M▼ -7.8% YoY

Trailing 12M (TTM)$41.7Mtrailing 4 quarters sum

FCF Margin69.0%$18.4M ÷ revenue

3-Year CAGR+4.8%FY2022 → FY2025

5-Year CAGR-19.1%FY2020 → FY2025

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 9, 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

PHT · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$18.4M(0M)$18.4M▼ 7.8%69.0%

FY2024$19.9M(0M)$19.9M▼ 40.2%66.5%

FY2023$33.4M(0M)$33.4M▲ +109.1%—

FY2022$16.0M(0M)$16.0M▲ +28.7%262.1%

FY2021$12.4M(0M)$12.4M▼ 76.6%13.3%

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

FCF valuation metrics

PHT · P/FCF · FCF yield · FCF per share

Pioneer High Income Fund, Inc. (PHT) trades at a FCF yield of 7.53% and a price-to-free-cash-flow ratio of 5.9x. FCF per share stands at $1.42, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

7.53%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.42

TTM FCF ÷ Shares Outstanding

Price / FCF

x5.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x19.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-03-31

Cash flow statement summary

PHT · cash flow statement · operating / investing / financing

For FY2025, Pioneer High Income Fund, Inc. generated $18.4M in operating cash flow and spent 0M in capital expenditures, yielding $18.4M in free cash flow.

Operating Activities

+$18.4M

Cash from core business operations

2025-03-31

Investing Activities

+$0.0M

CapEx, acquisitions & investments

2025-03-31

Financing Activities

−$19.4M

Buybacks, dividends & debt

2025-03-31

FCF FormulaOperating CF ($18.4M) − |CapEx| (0M) = FCF ($18.4M)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

PHT vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Pioneer High Income Fund, Inc.YOU

PHT

$18.4M-7.8%69.0%

Berkshire Hathaway Inc.

BRK-A

$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

Pioneer High Income Fund, Inc. (PHT) reported free cash flow of $18.4M for FY2025 (fiscal year ending 2025-03-31), down 7.8% year-over-year. The FCF margin was 69.0%.

Based on available data, Pioneer High Income Fund, Inc. has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $68.0M in FY2014. The 5-year CAGR stands at -19.1%.

Pioneer High Income Fund, Inc.'s FCF yield is 7.53% and price-to-FCF ratio is 5.9x for FY2025, 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

PHT free cash flow · 8 questions

Pioneer High Income Fund, Inc. free cash flow was $18.4M for FY2025, down 7.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $41.7M.

PHT free cash flowPHT FCFPHT FCF 2025PHT free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Pioneer High Income Fund, Inc. · Pioneer High Income Fund, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026