Is PAI or PCM more undervalued in 2026?

CirclFi compares Western Asset Investment Grade (PAI) and PCM Fund, Inc. (PCM) using 13 institutional-grade valuation models. PAI has a Quality of Company score of 1.8/10 while PCM scores 1.7/10.

Which is a better buy — PAI or PCM?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do PAI and PCM valuations compare?

PAI at $12.13 and PCM at $5.66 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

PAI vs PCM Valuation Comparison 2026 — Intrinsic Value Analysis

PAI

Asset Management

Western Asset Investment Grade

Quality

1.8

out of 10

Value Trap

—

Price

$12.13

Last close

Models

9/13

Active

PCM

Asset Management

PCM Fund, Inc.

Quality

1.7

out of 10

Value Trap

—

Price

$5.66

Last close

Models

10/13

Active

Model-by-Model Comparison

Model	Type	PAI Fair Value	PAI Upside	PCM Fair Value	PCM Upside
Bayesian DCF	Intrinsic	$3.21	-73.5%	$1.50	-73.5%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$7.66	-36.8%	—	—
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	—	—	$7.66	+35.3%

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PAI vs PCM — Which Stock Is More Undervalued?

PAI scores higher with a 1.8/10 quality rating vs PCM's 1.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Western Asset Investment Grade (PAI) and PCM Fund, Inc. (PCM) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

PAI currently trades at $12.13 with a QOC of 1.8/10, while PCM trades at $5.66 with a QOC of 1.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).