Invesco DB Precious Metals Fund (DBP) Financials

DBP

Trailing 12 months to June 30, 2026

Revenue $9.5M +19.7% YoY

Net Income $49.4M -5.9% YoY

EPS (Diluted) Not reported for the trailing 12 months

Operating Cash Flow -$4.6M -122.5% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 7, 2026 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 DBP SEC filings page.

Invesco DB Precious Metals Fund (DBP) reported $9.5M in revenue over the twelve months to Jun 30, 2026, up 19.7% 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 DBP FY2025 2026-08-29

Asset values rather than operating scale dominate this fund’s reported earnings, while minimal liabilities leave cash conversion as the key interpretive constraint.

Net income jumped 210.4% in FY2025, while operating cash flow fell 61.2%, so the headline earnings gain was not accompanied by a comparable cash inflow. At year-end, operating cash flow of $10.9M represented only 9.7% of net income of $112.6M, indicating that non-cash or timing effects materially shaped reported profitability.

The asset base expanded 65.3% in FY2025 while revenue declined 2.7%, separating balance-sheet growth from operating scale. Operating margin eased from 85.8% to 82.4% but remained high, a pattern more consistent with changing values of underlying holdings than with conventional volume-led expansion.

Liabilities were just $150K against $257.7M of assets, leaving little evidence of debt-funded exposure. The 0.0006x debt-to-equity ratio reinforces that reported returns are being generated on an overwhelmingly unlevered balance sheet, so leverage is not amplifying the year’s result.

Financial Health Signals

Financial health score not available

Invesco DB Precious Metals 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

4/6

Invesco DB Precious Metals Fund passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.10x

For every $1 of reported earnings, Invesco DB Precious Metals Fund generates $0.10 in operating cash flow ($10.9M OCF vs $112.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe

468.68x

Invesco DB Precious Metals Fund earns $468.68 in operating income for every $1 of interest expense ($6.5M vs $14K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.7M

YoY+42.1%

QoQ+6.7%

5Y CAGR+210.2%

10Y CAGR+37.2%

Invesco DB Precious Metals Fund generated $2.7M in revenue in Q2 2026. This represents an increase of 42.1% from the same quarter a year earlier. Against the prior quarter it is up 6.7%.

Net Income

-$42.3M

YoY-581.4%

QoQ-378.2%

Invesco DB Precious Metals Fund reported -$42.3M in net income in Q2 2026. This represents a decrease of 581.4% from the same quarter a year earlier. Against the prior quarter it is down 378.2%.

EBITDA

Not reported for Q2 2026.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

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

Shares Outstanding

YoY+4.0%

QoQ+2.0%

5Y CAGR+0.8%

10Y CAGR-7.0%

Invesco DB Precious Metals Fund had 3M shares outstanding in Q2 2026. This represents an increase of 4.0% from the same quarter a year earlier. Against the prior quarter it is up 2.0%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Operating Margin

82.2%

YoY-0.9pp

QoQ+2.4pp

Invesco DB Precious Metals Fund's operating margin was 82.2% in Q2 2026, reflecting core business profitability. This is down 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.4 percentage points.

Return on Equity

-17.5%

YoY-22.2pp

QoQ-23.0pp

5Y change-20.8pp

10Y change-24.5pp

Invesco DB Precious Metals Fund's ROE was -17.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 22.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 23.0 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

$11.4M

YoY-64.9%

QoQ-33.3%

Invesco DB Precious Metals Fund spent $11.4M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 64.9% from the same quarter a year earlier. Against the prior quarter it is down 33.3%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

DBP 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.

DBP quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$9.5M	$7.9M-2.7%	$8.1M+5.4%	$7.7M+470.3%	$1.3M+3003.5%	$43K-93.4%	$661K-76.7%	$2.8M+14.0%	$2.5M+84.8%	$1.3M+132.0%	$582K+1811.5%	$30K-43.0%	$53K	N/A	N/A	N/A
Operating Income	$7.7M	$6.5M-6.5%	$7.0M+5.6%	$6.6M+1075.1%	$561K+166.6%	-$842K-130.0%	-$366K-119.5%	$1.9M+31.0%	$1.4M+667.9%	$186K+119.3%	-$965K-4.1%	-$927K+32.1%	-$1.4M+24.0%	-$1.8M	N/A	N/A
EBITDA	N/A	$5.5M+34.9%	$4.1M+6.5%	$3.8M+10082.0%	$38K+104.4%	-$866K-17.4%	-$737K+3.7%	-$765K+18.0%	-$934K+14.5%	-$1.1M+28.9%	-$1.5M-60.3%	-$957K+32.5%	-$1.4M+26.2%	-$1.9M	N/A	N/A
Interest Expense	$41K	$14K-72.3%	$50K+71.2%	$29K+326.8%	$7K+208.9%	$2K-60.1%	$6K-31.8%	$8K-20.2%	$10K+378.1%	$2K-59.4%	$5K+192.3%	$2K	N/A	N/A	N/A	N/A
Net Income	$49.4M	$112.6M+210.4%	$36.3M+216.5%	$11.5M+440.6%	-$3.4M+65.3%	-$9.7M-129.8%	$32.6M+85.0%	$17.6M+339.2%	-$7.4M-150.3%	$14.6M+340.0%	-$6.1M+52.4%	-$12.8M-3.5%	-$12.4M+87.3%	-$97.7M-595.5%	$19.7M+341.7%	-$8.2M
EPS (Basic)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$2.65+161.5%	-$4.31-67.1%	-$2.58+85.6%	-$17.93	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$2.7M+42.1%	$2.5M+46.4%	$2.2M+6.3%	$2.0M-8.2%	$1.9M-3.3%	$1.7M-5.5%	$2.1M+8.4%	$2.2M+6.6%
Operating Income	$2.2M+40.6%	$2.0M+41.1%	$1.8M+1.6%	$1.7M-11.2%	$1.6M-6.9%	$1.4M-9.6%	$1.8M+6.3%	$1.9M+6.0%
EBITDA	N/A	N/A	$1.8M+66.3%	$1.7M+44.0%	$1.2M+22.6%	$844K-2.5%	$1.1M+17.7%	$1.2M+19.6%
Interest Expense	$31K+1095.1%	$4K-19.1%	$3K-70.8%	$3K-85.2%	$3K-80.9%	$5K-27.6%	$11K+66.9%	$18K+169.1%
Net Income	-$42.3M-581.4%	$15.2M-44.4%	$42.0M+2558.8%	$34.4M+90.8%	$8.8M-19.1%	$27.3M+201.0%	-$1.7M-113.0%	$18.0M+438.7%

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).

DBP Balance Sheet

DBP quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$257.7M+65.3%	$155.9M+4.9%	$148.6M+34.6%	$110.4M-2.1%	$112.7M-20.6%	$142.1M+0.2%	$141.8M+28.9%	$110.0M-29.0%	$154.8M+9.9%	$140.8M+45.3%	$96.9M-38.2%	$156.8M-14.5%	$183.3M-48.3%	$354.3M-23.9%	$465.3M
Cash & Equivalents	$0	$0	$0-100.0%	$874K	$0-100.0%	$1.0M+692.8%	$130K	$0-100.0%	$671K-66.1%	$2.0M-42.8%	$3.5M-77.5%	$15.4M+57.9%	$9.7M-88.6%	$85.4M+31.0%	$65.2M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$150K-85.8%	$1.1M-1.9%	$1.1M+329.6%	$252K+236.3%	$75K-56.3%	$171K+84.1%	$93K-91.7%	$1.1M+1039.0%	$98K-91.1%	$1.1M+949.4%	$106K-96.6%	$3.1M-0.7%	$3.1M+1227.7%	$235K-97.9%	$11.1M
Total Equity	$257.5M+66.3%	$154.8M+5.0%	$147.5M+33.9%	$110.2M-2.2%	$112.7M-20.6%	$141.9M+0.1%	$141.7M+30.2%	$108.9M-29.6%	$154.7M+10.7%	$139.7M+44.3%	$96.8M-37.0%	$153.7M-14.7%	$180.2M-49.1%	$354.0M-22.0%	$454.1M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$109.4M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$241.2M+28.7%	$279.2M+37.3%	$257.7M+65.3%	$221.6M+23.1%	$187.3M+20.8%	$203.3M+38.4%	$155.9M+4.9%	$180.0M+31.8%
Cash & Equivalents	$0	$0	$0	$0	$0	$0	$0	$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	$138K-52.7%	$176K+56.8%	$150K-85.8%	$122K-87.6%	$292K+219.6%	$112K+26.1%	$1.1M-1.9%	$984K-14.9%
Total Equity	$241.0M+28.9%	$279.0M+37.3%	$257.5M+66.3%	$221.5M+23.7%	$187.0M+20.7%	$203.2M+38.4%	$154.8M+5.0%	$179.0M+32.2%

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.

DBP Cash Flow Statement

DBP quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$4.6M	$10.9M-61.2%	$28.0M+204.6%	-$26.7M-281970.9%	$9K-99.9%	$18.5M-44.4%	$33.3M+336.5%	-$14.1M-138.3%	$36.8M+2310.7%	-$1.7M+96.7%	-$50.5M-257.0%	$32.1M+62.6%	$19.8M+4297.6%	$449K-99.7%	$150.9M+398.8%	-$50.5M
Depreciation & Amortization	N/A	-$985K+65.6%	-$2.9M-4.3%	-$2.7M-425.7%	-$523K-2116.8%	-$24K+93.6%	-$371K+85.9%	-$2.6M-11.6%	-$2.4M-85.0%	-$1.3M-124.4%	-$570K-1772.5%	-$30K+43.3%	-$54K+57.1%	-$125K+43.7%	-$222K+16.0%	-$264K
Financing Cash Flow	$4.6M	-$10.9M+61.2%	-$28.0M-208.1%	$25.9M+2893.4%	$864K+104.4%	-$19.5M+39.7%	-$32.4M-328.0%	$14.2M+138.0%	-$37.4M-10534.0%	$359K-99.3%	$49.0M	N/A	N/A	-$76.1M+41.7%	-$130.7M-289.6%	$68.9M
Dividends Paid	N/A	$6.1M-9.6%	$6.8M+1.2%	$6.7M+1239.3%	$500K	N/A	N/A	$1.8M+32.4%	$1.3M+643.6%	$181K	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$38.3M	$49.0M-12.4%	$56.0M-29.0%	$78.8M+68.6%	$46.8M+57.4%	$29.7M-64.5%	$83.6M+59.5%	$52.4M-36.8%	$82.9M+58.8%	$52.2M-71.5%	$183.2M+176.4%	$66.3M-24.9%	$88.2M-42.3%	$152.8M-28.6%	$214.1M-40.3%	$358.4M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$4.3M-117.4%	-$6.2M+68.9%	$6.0M-72.2%	$0+100.0%	$24.9M+828.1%	-$20.0M-305.8%	$21.5M+1924.4%	-$6.0M-121.9%
Depreciation & Amortization	N/A	N/A	$0+100.0%	$0+100.0%	-$390K+46.4%	-$595K+18.0%	-$689K+7.8%	-$724K+10.3%
Financing Cash Flow	$4.3M+117.4%	$6.2M-68.9%	-$6.0M+72.2%	$0-100.0%	-$24.9M-828.1%	$20.0M+305.8%	-$21.5M-1924.4%	$6.0M+121.9%
Share Buybacks	$11.4M-64.9%	$17.1M+154.9%	$9.8M-65.8%	$0-100.0%	$32.5M+185.0%	$6.7M-31.1%	$28.7M+98.3%	$6.1M-81.0%

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

DBP 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.

DBP quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	82.4%-3.4pp	85.8%+0.1pp	85.7%+44.1pp	41.6%	-1939.2%	-55.4%-121.3pp	65.9%+8.5pp	57.4%+43.6pp	13.8%	-165.9%	-3046.2%	-2557.1%	N/A	N/A	N/A
Net Margin	1428.2%	447.9%	149.1%	-249.7%	-22335.3%	4922.9%	619.2%	-295.1%	1085.2%	-1048.8%	-42113.1%	-23203.6%	N/A	N/A	N/A
Return on Equity	43.7%+20.3pp	23.4%+15.7pp	7.8%+10.8pp	-3.1%+5.5pp	-8.6%-31.6pp	22.9%+10.5pp	12.4%+19.2pp	-6.8%-16.2pp	9.5%+13.8pp	-4.4%+8.9pp	-13.2%-5.2pp	-8.1%+46.2pp	-54.2%-59.8pp	5.6%+7.4pp	-1.8%
Return on Assets	43.7%+20.4pp	23.3%+15.5pp	7.7%+10.8pp	-3.0%+5.6pp	-8.6%-31.5pp	22.9%+10.5pp	12.4%+19.1pp	-6.7%-16.2pp	9.5%+13.8pp	-4.3%+8.9pp	-13.2%-5.3pp	-7.9%+45.4pp	-53.3%-58.9pp	5.6%+7.3pp	-1.8%
Debt-to-Equity	0.000.0x	0.010.0x	0.010.0x	0.000.0x	0.000.0x	0.000.0x	0.000.0x	0.010.0x	0.000.0x	0.010.0x	0.000.0x	0.020.0x	0.020.0x	0.000.0x	0.02
Asset Turnover	0.030.0x	0.050.0x	0.050.0x	0.010.0x	0.000.0x	0.000.0x	0.020.0x	0.020.0x	0.010.0x	0.000.0x	0.000.0x	0.00	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	82.2%-0.9pp	79.8%-3.0pp	81.0%-3.8pp	83.1%-2.8pp	83.0%-3.2pp	82.8%-3.7pp	84.8%-1.7pp	86.0%-0.5pp
Net Margin	-1557.6%	597.5%	1892.6%	1709.7%	459.8%	1573.2%	-81.8%	822.4%
Return on Equity	-17.5%-22.2pp	5.5%-8.0pp	16.3%+17.4pp	15.6%+5.5pp	4.7%-2.3pp	13.5%+7.3pp	-1.1%-10.0pp	10.1%+14.0pp
Return on Assets	-17.5%-22.2pp	5.5%-8.0pp	16.3%+17.4pp	15.5%+5.5pp	4.7%-2.3pp	13.5%+7.3pp	-1.1%-9.9pp	10.0%+13.9pp
Debt-to-Equity	0.000.0x	0.000.0x	0.000.0x	0.000.0x	0.000.0x	0.000.0x	0.010.0x	0.010.0x
Asset Turnover	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x

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.

Where Invesco DB Precious Metals Fund Ranks

Frequently Asked Questions

What is Invesco DB Precious Metals Fund's annual revenue?

Invesco DB Precious Metals Fund (DBP) reported $7.9M in total revenue for fiscal year 2025. This represents a -2.7% 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 Precious Metals Fund's revenue growing?

Invesco DB Precious Metals Fund (DBP) revenue declined by 2.7% year-over-year, from $8.1M to $7.9M in fiscal year 2025.

Is Invesco DB Precious Metals Fund profitable?

Yes, Invesco DB Precious Metals Fund (DBP) reported a net income of $112.6M in fiscal year 2025.

What is Invesco DB Precious Metals Fund's EBITDA?

Invesco DB Precious Metals Fund (DBP) had EBITDA of $5.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Invesco DB Precious Metals Fund's operating margin?

Invesco DB Precious Metals Fund (DBP) had an operating margin of 82.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

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

Invesco DB Precious Metals Fund (DBP) has a return on equity of 43.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Invesco DB Precious Metals Fund's operating cash flow?

Invesco DB Precious Metals Fund (DBP) generated $10.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Invesco DB Precious Metals Fund's total assets?

Invesco DB Precious Metals Fund (DBP) had $257.7M in total assets as of fiscal year 2025, including both current and long-term assets.

Does Invesco DB Precious Metals Fund buy back shares?

Yes, Invesco DB Precious Metals Fund (DBP) spent $49.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Invesco DB Precious Metals Fund have outstanding?

Invesco DB Precious Metals Fund (DBP) had 3M shares outstanding as of fiscal year 2025.

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

Invesco DB Precious Metals Fund (DBP) 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.

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

Invesco DB Precious Metals Fund (DBP) had a return on assets of 43.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

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

Invesco DB Precious Metals Fund (DBP) has a Piotroski F-Score of 4 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.

Are Invesco DB Precious Metals Fund's earnings high quality?

Invesco DB Precious Metals Fund (DBP) has an earnings quality ratio of 0.10x, considered low quality (accrual-driven). 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 Precious Metals Fund cover its interest payments?

Invesco DB Precious Metals Fund (DBP) has an interest coverage ratio of 468.68x, 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.