Invesco DB Energy Fund Financials

DBE

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Invesco DB Energy Fund (DBE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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 DBE FY2025 2026-05-07

Cash is largely passed through to holders, while minimal liabilities make equity changes—not leverage—the real operating driver here.

An earlier period showed operating cash flow of $61.6M almost exactly offset by financing outflow of -$61.6M, revealing a structure that passes cash through rather than stockpiling it. Most recently, the same pairing—$3.5M in operating inflow and -$4.2M in financing outflow—left reported cash negligible, so equity movement, not borrowing, is what mostly reshapes the balance sheet.

Liabilities were only $899K against $41.9M of assets, so solvency pressure is limited and swings in results are not being amplified by debt. The recurring shrinkage in the asset base therefore looks more like capital being returned or withdrawn than a lender-driven balance-sheet squeeze.

Most recently, operating income was $1.7M while net income was -$1.1M, even though interest expense was trivial. That mismatch says the headline loss came from below-operating-line effects, so bottom-line volatility can diverge sharply from the operating expense picture a casual reader might focus on.

Financial Health Signals

Financial Profile 33/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Invesco DB Energy Fund's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

100

Invesco DB Energy Fund has an operating margin of 82.8%, meaning the company retains $83 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 85.4% the prior year.

Growth

Invesco DB Energy Fund's revenue declined 42.8% year-over-year, from $3.6M to $2.1M. This contraction results in a growth score of 0/100.

Leverage

100

Invesco DB Energy Fund carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Returns

Invesco DB Energy Fund generates a -2.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 1/100. This is down from 5.2% the prior year.

Piotroski F-Score Weak

3/9

Invesco DB Energy Fund passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-3.11x

For every $1 of reported earnings, Invesco DB Energy Fund generates $-3.11 in operating cash flow ($3.5M OCF vs -$1.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Safe

461.1x

Invesco DB Energy Fund earns $461.1 in operating income for every $1 of interest expense ($1.7M vs $4K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.1M

YoY-42.8%

5Y CAGR+47.4%

10Y CAGR+46.5%

Invesco DB Energy Fund generated $2.1M in revenue in fiscal year 2025. This represents a decrease of 42.8% from the prior year.

EBITDA

$1.5M

YoY+8.2%

Invesco DB Energy Fund's EBITDA was $1.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.2% from the prior year.

Net Income

-$1.1M

YoY-146.4%

Invesco DB Energy Fund reported -$1.1M in net income in fiscal year 2025. This represents a decrease of 146.4% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

YoY-100.0%

Invesco DB Energy Fund held $0 in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY-17.5%

5Y CAGR-15.0%

10Y CAGR-11.5%

Invesco DB Energy Fund had 2M shares outstanding in fiscal year 2025. This represents a decrease of 17.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

82.8%

YoY-2.6pp

5Y CAGR+111.8pp

10Y CAGR+2250.6pp

Invesco DB Energy Fund's operating margin was 82.8% in fiscal year 2025, reflecting core business profitability. This is down 2.6 percentage points from the prior year.

Net Margin

-54.7%

YoY-122.2pp

5Y CAGR+4077.0pp

10Y CAGR+112422.9pp

Invesco DB Energy Fund's net profit margin was -54.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 122.2 percentage points from the prior year.

Return on Equity

-2.8%

YoY-7.9pp

5Y CAGR+18.2pp

10Y CAGR+51.9pp

Invesco DB Energy Fund's ROE was -2.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 7.9 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$23.4M

YoY-45.3%

5Y CAGR-16.5%

10Y CAGR-9.3%

Invesco DB Energy Fund spent $23.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 45.3% from the prior year.

Capital Expenditures

N/A

DBE Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$2.1M-42.8%	$3.6M-25.0%	$4.8M+60.1%	$3.0M+8007.8%	$37K-87.5%	$297K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	$1.7M-44.5%	$3.1M-24.4%	$4.1M+181.5%	$1.5M+300.0%	-$725K-742.6%	-$86K
Interest Expense	$4K-86.9%	$28K-26.9%	$39K+24.4%	$31K+1123.5%	$3K-34.7%	$4K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.1M-146.4%	$2.4M+113.7%	-$17.9M-146.0%	$38.8M+10.0%	$35.3M+387.6%	-$12.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$417K-9.5%	$461K-14.9%	$542K+5.9%	$511K-7.9%	$555K-9.7%	$615K-18.2%	$752K-31.8%	$1.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	$321K-15.7%	$380K-15.6%	$451K+6.3%	$424K-7.2%	$457K-11.2%	$515K-19.3%	$638K-32.6%	$947K
Interest Expense	$302+30100.0%	$1	$0-100.0%	$443-86.5%	$3K-48.0%	$6K-16.8%	$8K+31.3%	$6K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$29.2M+1512.4%	-$2.1M-323.5%	$924K+134.5%	-$2.7M-199.7%	$2.7M-8.7%	$2.9M+143.4%	-$6.8M-1424.8%	-$446K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DBE Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$41.9M-11.2%	$47.3M-36.9%	$74.9M-51.4%	$154.1M+40.4%	$109.8M+87.1%	$58.7M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$0-100.0%	$648K	$0	$0	$0-100.0%	$246K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$899K+2562.2%	$34K-96.6%	$982K+839.8%	$104K-95.4%	$2.3M+5529.5%	$40K
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$41.0M-13.1%	$47.2M-36.1%	$73.9M-52.0%	$154.0M+43.2%	$107.5M+83.4%	$58.6M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$88.4M+110.6%	$41.9M-13.3%	$48.4M-7.4%	$52.3M-6.4%	$55.9M+18.2%	$47.3M-5.8%	$50.1M-32.7%	$74.5M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$0	$0	$0	$0	$0-100.0%	$648K	$0	$0
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.0M+235.1%	$899K+2691.3%	$32K-46.2%	$60K+65.0%	$36K+7.5%	$34K-4.6%	$35K-91.0%	$391K
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$85.3M+107.9%	$41.0M-15.1%	$48.4M-7.3%	$52.2M-6.5%	$55.8M+18.2%	$47.2M-5.8%	$50.1M-32.4%	$74.1M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

DBE Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$3.5M-88.4%	$30.4M-50.7%	$61.6M+907.2%	-$7.6M+44.8%	-$13.8M-118.1%	-$6.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$4.2M+86.0%	-$29.7M+51.7%	-$61.6M-907.2%	$7.6M-43.8%	$13.6M+106.3%	$6.6M
Dividends Paid	$1.6M-55.3%	$3.6M+26.7%	$2.9M+139.0%	$1.2M	N/A	N/A
Share Buybacks	$23.4M-45.3%	$42.8M-61.5%	$111.0M-40.6%	$187.0M+127.8%	$82.1M+42.9%	$57.5M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$14.3M-425.6%	$4.4M-8.0%	$4.8M+406.3%	$940K+114.3%	-$6.6M-201.1%	$6.5M-62.3%	$17.2M+2.0%	$16.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$14.3M+425.6%	-$4.4M+8.0%	-$4.8M-406.3%	-$940K-115.9%	$5.9M+201.2%	-$5.8M+66.1%	-$17.2M-2.0%	-$16.9M
Dividends Paid	N/A	$1.6M	$0	$0	$0-100.0%	$3.0M	$0	$0
Share Buybacks	$873K-84.3%	$5.6M+16.9%	$4.8M-48.6%	$9.3M+143.8%	$3.8M+33.6%	$2.8M-84.4%	$18.2M+8.2%	$16.9M

DBE Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	82.8%-2.6pp	85.4%+0.6pp	84.7%+36.6pp	48.2%+2001.8pp	-1953.6%-1924.6pp	-29.0%
Net Margin	-54.7%-122.2pp	67.5%+438.2pp	-370.7%-1660.9pp	1290.2%-93802.9pp	95093.1%+99224.8pp	-4131.7%
Return on Equity	-2.8%-7.9pp	5.2%+29.3pp	-24.2%-49.4pp	25.2%-7.6pp	32.8%+53.8pp	-20.9%
Return on Assets	-2.7%-7.9pp	5.2%+29.0pp	-23.9%-49.1pp	25.2%-7.0pp	32.1%+53.1pp	-20.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.02+0.0	0.00-0.0	0.01+0.0	0.00-0.0	0.02+0.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	76.9%-5.7pp	82.5%-0.7pp	83.3%+0.3pp	83.0%+0.6pp	82.3%-1.4pp	83.7%-1.2pp	84.9%-1.0pp	85.9%
Net Margin	6992.9%+7441.0pp	-448.1%-618.7pp	170.6%+694.7pp	-524.1%-1008.1pp	484.0%+5.0pp	479.0%+1382.6pp	-903.6%-863.2pp	-40.4%
Return on Equity	34.2%+39.2pp	-5.0%-6.9pp	1.9%+7.0pp	-5.1%-10.0pp	4.8%-1.4pp	6.2%+19.8pp	-13.6%-13.0pp	-0.6%
Return on Assets	33.0%+37.9pp	-4.9%-6.8pp	1.9%+7.0pp	-5.1%-9.9pp	4.8%-1.4pp	6.2%+19.8pp	-13.6%-13.0pp	-0.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.04+0.0	0.02+0.0	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.01
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Invesco DB Energy Fund's annual revenue?

Invesco DB Energy Fund (DBE) reported $2.1M in total revenue for fiscal year 2025. This represents a -42.8% 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 Energy Fund's revenue growing?

Invesco DB Energy Fund (DBE) revenue declined by 42.8% year-over-year, from $3.6M to $2.1M in fiscal year 2025.

Is Invesco DB Energy Fund profitable?

No, Invesco DB Energy Fund (DBE) reported a net income of -$1.1M in fiscal year 2025, with a net profit margin of -54.7%.

What is Invesco DB Energy Fund's EBITDA?

Invesco DB Energy Fund (DBE) had EBITDA of $1.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Invesco DB Energy Fund's operating margin?

Invesco DB Energy Fund (DBE) had an operating margin of 82.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Invesco DB Energy Fund's net profit margin?

Invesco DB Energy Fund (DBE) had a net profit margin of -54.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Invesco DB Energy Fund's return on equity (ROE)?

Invesco DB Energy Fund (DBE) has a return on equity of -2.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Invesco DB Energy Fund's operating cash flow?

Invesco DB Energy Fund (DBE) generated $3.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Invesco DB Energy Fund's total assets?

Invesco DB Energy Fund (DBE) had $41.9M in total assets as of fiscal year 2025, including both current and long-term assets.

Does Invesco DB Energy Fund buy back shares?

Yes, Invesco DB Energy Fund (DBE) spent $23.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Invesco DB Energy Fund have outstanding?

Invesco DB Energy Fund (DBE) had 2M shares outstanding as of fiscal year 2025.

What is Invesco DB Energy Fund's debt-to-equity ratio?

Invesco DB Energy Fund (DBE) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Invesco DB Energy Fund's return on assets (ROA)?

Invesco DB Energy Fund (DBE) had a return on assets of -2.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Invesco DB Energy Fund's Piotroski F-Score?

Invesco DB Energy Fund (DBE) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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.

Are Invesco DB Energy Fund's earnings high quality?

Invesco DB Energy Fund (DBE) has an earnings quality ratio of -3.11x, considered mixed 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.

Can Invesco DB Energy Fund cover its interest payments?

Invesco DB Energy Fund (DBE) has an interest coverage ratio of 461.1x, 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.

How financially healthy is Invesco DB Energy Fund?

Invesco DB Energy Fund (DBE) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.