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Invesco DB Commodity Index Tracking Fund (DBC) Financials

DBC
Trailing 12 months to June 30, 2026
Revenue $53.7M -16.1% YoY
Net Income $294.3M +712.7% YoY
EPS (Diluted) Not reported for the trailing 12 months
Operating Cash Flow -$72.2M -115.1% YoY
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DBC SEC filings page.

Invesco DB Commodity Index Tracking Fund (DBC) reported $53.7M in revenue over the twelve months to Jun 30, 2026, down 16.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI DBC FY2025

A low-liability commodity fund converts volatile investment results into cash while regularly shrinking its asset and share base.

In FY2025, operating cash flow of $141.9M exceeded net income of $92.5M, unlike FY2024. The narrower gap makes FY2025 earnings more cash-aligned, yet the simultaneous decline in cash generation shows reported profit can move differently from the cash the fund produces.

Total liabilities were $3.3M in FY2025, while total assets were $1.2B. This equity-financed balance sheet leaves little reliance on borrowing; financing cash flow of -$151.2M also indicates that cash was being distributed or otherwise paid out rather than retained.

The operating margin stayed near 80% across FY2024 and FY2025. Revenue fell from $82.6M to $51.8M without a comparable margin collapse, indicating the reported expense structure remained proportionate rather than relying mainly on fixed-cost absorption.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Invesco DB Commodity Index Tracking Fund does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
5/6

Invesco DB Commodity Index Tracking Fund passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.53x

For every $1 of reported earnings, Invesco DB Commodity Index Tracking Fund generates $1.53 in operating cash flow ($141.9M OCF vs $92.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
523.85x

Invesco DB Commodity Index Tracking Fund earns $523.85 in operating income for every $1 of interest expense ($41.4M vs $79K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$16.6M
YoY+33.8%
QoQ+41.5%
5Y CAGR+140.1%
10Y CAGR+27.2%

Invesco DB Commodity Index Tracking Fund generated $16.6M in revenue in Q2 2026. This represents an increase of 33.8% from the same quarter a year earlier. Against the prior quarter it is up 41.5%.

Net Income
-$147.9M
YoY-189.2%
QoQ-140.2%

Invesco DB Commodity Index Tracking Fund reported -$147.9M in net income in Q2 2026. This represents a decrease of 189.2% from the same quarter a year earlier. Against the prior quarter it is down 140.2%.

EBITDA

Not reported for Q2 2026.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt
$0

Invesco DB Commodity Index Tracking Fund held $0 in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding
59M
YoY+5.0%
QoQ+1.4%
5Y CAGR-14.7%
10Y CAGR-9.9%

Invesco DB Commodity Index Tracking Fund had 59M shares outstanding in Q2 2026. This represents an increase of 5.0% from the same quarter a year earlier. Against the prior quarter it is up 1.4%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Operating Margin
77.7%
YoY-2.1pp
QoQ+1.8pp

Invesco DB Commodity Index Tracking Fund's operating margin was 77.7% in Q2 2026, reflecting core business profitability. This is down 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.8 percentage points.

Return on Equity
-9.4%
YoY-5.2pp
QoQ-31.1pp
5Y change-22.3pp
10Y change-21.5pp

Invesco DB Commodity Index Tracking Fund's ROE was -9.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 5.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 31.1 percentage points.

Gross Margin

Not reported for Q2 2026.

Net Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

Share Buybacks
$265.1M
YoY+57.8%
QoQ+174.5%
5Y CAGR-4.4%
10Y CAGR+8.3%

Invesco DB Commodity Index Tracking Fund spent $265.1M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 57.8% from the same quarter a year earlier. Against the prior quarter it is up 174.5%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

DBC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DBC quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$16.6M+33.8%$11.7M-16.5%$12.2M-28.2%$13.2M-35.9%$12.4M-45.8%$14.0M-36.7%$17.0M-38.1%$20.6M-27.0%
Operating Income$12.9M+30.4%$8.9M-21.2%$9.6M-31.5%$10.6M-38.4%$9.9M-48.5%$11.3M-39.8%$14.0M-39.7%$17.3M-27.6%
EBITDAN/AN/A$9.6M+52.4%$10.6M+32.0%$7.0M-28.9%$7.0M-18.3%$6.3M-49.1%$8.1M-38.5%
Interest Expense$154K+757.3%$0-100.0%$0-100.0%$0-100.0%$18K-76.8%$61K-44.6%$108K-15.7%$138K+62.0%
Net Income-$147.9M-189.2%$367.8M+431.7%$36.1M+195.9%$38.4M+149.1%-$51.2M-363.1%$69.2M+0.3%$12.2M+108.2%-$78.2M-141.5%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

DBC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DBC quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$1.6B+28.6%$1.7B+25.9%$1.2B-5.1%$1.3B-9.9%$1.2B-29.6%$1.4B-21.1%$1.3B-24.1%$1.4B-35.3%
Cash & Equivalents$0$0$0-100.0%$0$0$0$9.3M$0
Short-Term Investments$0$0$0$0$0$0$0$0
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$8.9M+415.1%$26.6M+610.0%$3.3M-56.5%$814K-29.8%$1.7M-80.8%$3.8M-62.7%$7.6M-57.0%$1.2M-96.9%
Total Equity$1.6B+28.1%$1.7B+24.3%$1.2B-4.7%$1.3B-9.8%$1.2B-29.3%$1.4B-20.8%$1.3B-23.7%$1.4B-34.3%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.

DBC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DBC quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$36.6M-149.8%-$101.0M-3629.7%$100.1M-40.3%-$34.6M-114.9%$73.6M+1501.5%$2.9M-92.1%$167.6M-51.2%$233.0M+801.1%
Depreciation & AmortizationN/AN/A$0+100.0%$0+100.0%-$2.8M+69.3%-$4.3M+57.6%-$7.7M+28.9%-$9.2M+14.4%
Financing Cash Flow$36.6M+149.8%$101.0M+930.0%-$100.1M+36.8%$34.6M+114.9%-$73.6M-1501.5%-$12.2M+66.4%-$158.2M+53.9%-$233.0M-801.1%
Dividends PaidN/AN/AN/AN/AN/AN/A$67.5M$0
Share Buybacks$265.1M+57.8%$96.6M+36.3%$86.9M-20.9%$37.8M-85.8%$168.0M+129.5%$70.8M-37.7%$109.8M-67.3%$265.5M+215.7%

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow.

DBC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

DBC quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Margin77.7%-2.1pp75.8%-4.6pp78.5%-3.7pp80.6%-3.3pp79.7%-4.0pp80.4%-4.1pp82.2%-2.2pp83.9%-0.7pp
Net Margin-892.5%3140.1%295.8%291.0%-413.0%493.3%71.8%-380.1%
Return on Equity-9.4%-5.2pp21.8%+16.7pp2.9%+2.0pp3.0%+8.4pp-4.2%-5.3pp5.1%+1.1pp0.9%+9.8pp-5.5%-14.1pp
Return on Assets-9.3%-5.2pp21.4%+16.3pp2.9%+2.0pp3.0%+8.4pp-4.2%-5.3pp5.1%+1.1pp0.9%+9.7pp-5.5%-14.0pp
Debt-to-Equity0.010.0x0.020.0x0.000.0x0.000.0x0.000.0x0.000.0x0.010.0x0.000.0x
Asset Turnover0.010.0x0.010.0x0.010.0x0.010.0x0.010.0x0.010.0x0.010.0x0.010.0x

Not reported in any period shown, so not listed: Gross Margin, Current Ratio, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Frequently Asked Questions

What is Invesco DB Commodity Index Tracking Fund's annual revenue?

Invesco DB Commodity Index Tracking Fund (DBC) reported $51.8M in total revenue for fiscal year 2025. This represents a -37.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Invesco DB Commodity Index Tracking Fund's revenue growing?

Invesco DB Commodity Index Tracking Fund (DBC) revenue declined by 37.3% year-over-year, from $82.6M to $51.8M in fiscal year 2025.

Is Invesco DB Commodity Index Tracking Fund profitable?

Yes, Invesco DB Commodity Index Tracking Fund (DBC) reported a net income of $92.5M in fiscal year 2025.

Invesco DB Commodity Index Tracking Fund (DBC) had EBITDA of $34.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Invesco DB Commodity Index Tracking Fund (DBC) had an operating margin of 79.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Invesco DB Commodity Index Tracking Fund (DBC) has a return on equity of 7.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Invesco DB Commodity Index Tracking Fund (DBC) generated $141.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Invesco DB Commodity Index Tracking Fund (DBC) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Yes, Invesco DB Commodity Index Tracking Fund (DBC) spent $363.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Invesco DB Commodity Index Tracking Fund (DBC) had 54M shares outstanding as of fiscal year 2025.

Invesco DB Commodity Index Tracking Fund (DBC) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Invesco DB Commodity Index Tracking Fund (DBC) had a return on assets of 7.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Invesco DB Commodity Index Tracking Fund (DBC) has a Piotroski F-Score of 5 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Invesco DB Commodity Index Tracking Fund (DBC) has an earnings quality ratio of 1.53x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Invesco DB Commodity Index Tracking Fund (DBC) has an interest coverage ratio of 523.85x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

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