Invesco CurrencyShares® Euro Currency Trust Financials

FXE

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

This page shows Invesco CurrencyShares® Euro Currency Trust (FXE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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 FXE FY2025 2026-05-07

Balance-sheet expansion came from new capital, while earnings and cash flow stayed small relative to the cash-heavy asset base.

Between FY2024 and FY2025, total assets rose from $167.5M to $428.8M. At the same time, return on assets fell from 2.4% to 0.8%, so the much larger balance sheet reflects capital inflow more than earnings compounding and became less productive per dollar deployed.

FY2025 net income and operating cash flow were almost identical at $3.4M and $3.4M. After a similarly close match in FY2024, that points to earnings quality shaped by realized cash results rather than by large accrual or working-capital swings, which matters because the balance sheet itself changed far faster than profits did.

The trust held cash and equivalents of $428.4M against just total liabilities of $6.0M, leaving very little balance-sheet strain. Combined with FY2025 financing cash inflow of $222.4M and cash payouts of $3.5M, the structure behaves more like a cash-backed pool whose size moves with capital subscriptions and distributions than like a debt-funded operator.

Financial Health Signals

Financial health score pending refresh

We are recalculating Invesco CurrencyShares® Euro Currency Trust's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

2/6

Invesco CurrencyShares® Euro Currency Trust passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Mixed

0.99x

For every $1 of reported earnings, Invesco CurrencyShares® Euro Currency Trust generates $0.99 in operating cash flow ($3.4M OCF vs $3.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$5.1M

YoY+7.4%

Invesco CurrencyShares® Euro Currency Trust generated $5.1M in revenue in fiscal year 2025. This represents an increase of 7.4% from the prior year.

EBITDA

N/A

Net Income

$3.4M

YoY-13.9%

Invesco CurrencyShares® Euro Currency Trust reported $3.4M in net income in fiscal year 2025. This represents a decrease of 13.9% from the prior year.

EPS (Diluted)

$0.88

YoY-59.1%

Invesco CurrencyShares® Euro Currency Trust earned $0.88 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 59.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$428.4M

YoY+156.2%

5Y CAGR+5.5%

10Y CAGR+3.0%

Invesco CurrencyShares® Euro Currency Trust held $428.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+168.8%

5Y CAGR+6.4%

Invesco CurrencyShares® Euro Currency Trust had 4M shares outstanding in fiscal year 2025. This represents an increase of 168.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

67.6%

YoY-16.7pp

Invesco CurrencyShares® Euro Currency Trust's net profit margin was 67.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 16.7 percentage points from the prior year.

Return on Equity

0.8%

YoY-1.6pp

5Y CAGR+1.6pp

Invesco CurrencyShares® Euro Currency Trust's ROE was 0.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

FXE Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$5.1M+7.4%	$4.7M-10.7%	$5.3M+1503.3%	$331K	N/A	N/A
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	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	$0-100.0%	$1.0M-43.8%	$1.8M+25.0%	$1.4M
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	$3.4M-13.9%	$4.0M-6.5%	$4.3M+339.1%	-$1.8M+39.6%	-$3.0M-15.0%	-$2.6M
EPS (Diluted)	$0.88-59.1%	$2.15+30.3%	$1.65+366.1%	$-0.62+45.1%	$-1.13	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$1.3M+0.6%	$1.3M-17.7%	$1.5M-2.4%	$1.6M+109.4%	$746K-20.0%	$933K-16.6%	$1.1M-11.4%	$1.3M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	N/A	N/A	N/A	$0	N/A	N/A	N/A
Net Income	$819K+1.9%	$804K-17.6%	$976K-9.7%	$1.1M+88.1%	$575K-24.3%	$759K-19.2%	$940K-12.6%	$1.1M
EPS (Diluted)	$0.20	N/A	$0.19-17.4%	$0.23-28.1%	$0.32	N/A	$0.54-6.9%	$0.58

FXE Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$428.8M+156.0%	$167.5M-23.8%	$219.8M-23.1%	$285.7M+35.0%	$211.6M-35.4%	$327.8M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$428.4M+156.2%	$167.2M-21.9%	$214.0M-25.0%	$285.6M+34.9%	$211.6M-35.4%	$327.8M
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	$6.0M+10440.9%	$57K-74.9%	$226K+90.4%	$119K-40.5%	$200K-19.4%	$248K
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	$422.9M+152.6%	$167.4M-23.7%	$219.6M-23.1%	$285.6M+35.1%	$211.4M-35.4%	$327.5M
Retained Earnings	$0	$0	$0	$0	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$462.9M+7.9%	$428.8M-15.0%	$504.6M-13.0%	$580.0M+147.3%	$234.5M+40.0%	$167.5M-12.3%	$190.9M+10.1%	$173.4M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$462.4M+7.9%	$428.4M-15.0%	$504.1M-13.0%	$579.4M+152.8%	$229.2M+37.1%	$167.2M-12.2%	$190.5M+10.1%	$173.0M
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	$152K-97.5%	$6.0M+3077.6%	$188K+1.8%	$185K+165.5%	$70K+22.8%	$57K-6.4%	$61K-14.2%	$71K
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	$462.7M+9.4%	$422.9M-16.2%	$504.4M-13.0%	$579.8M+147.3%	$234.4M+40.0%	$167.4M-12.3%	$190.8M+10.1%	$173.4M
Retained Earnings	$0	$0	$0	$0	$0	$0	$0	$0

FXE Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$3.4M-21.6%	$4.3M+16.1%	$3.7M+283.1%	-$2.0M+32.0%	-$3.0M-18.3%	-$2.5M
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	$222.4M+671.9%	-$38.9M+53.5%	-$83.6M-204.2%	$80.2M+188.2%	-$91.0M-346.0%	$37.0M
Dividends Paid	$3.5M-14.0%	$4.1M+7.5%	$3.8M+6598.5%	$57K	N/A	N/A
Share Buybacks	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
Operating Cash Flow	$810K-5.2%	$854K-16.7%	$1.0M+10.1%	$931K+56.1%	$596K-28.7%	$837K-12.5%	$957K-47.9%	$1.8M
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	$42.6M+156.5%	-$75.4M+1.2%	-$76.3M-123.9%	$319.0M+479.3%	$55.1M+595.6%	-$11.1M-218.6%	$9.4M+135.6%	-$26.3M
Dividends Paid	$825K+0.4%	$822K-19.3%	$1.0M-7.6%	$1.1M+84.9%	$596K-28.6%	$834K-11.9%	$947K-14.8%	$1.1M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FXE 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	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	67.6%-16.7pp	84.3%+3.8pp	80.5%+620.3pp	-539.8%	N/A	N/A
Return on Equity	0.8%-1.6pp	2.4%+0.4pp	1.9%+2.6pp	-0.6%+0.8pp	-1.4%-0.6pp	-0.8%
Return on Assets	0.8%-1.6pp	2.4%+0.4pp	1.9%+2.6pp	-0.6%+0.8pp	-1.4%-0.6pp	-0.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.01+0.0	0.000.0	0.000.0	0.000.0	0.000.0	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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	65.0%+0.8pp	64.2%+0.1pp	64.0%-5.2pp	69.2%-7.8pp	77.0%-4.4pp	81.4%-2.6pp	84.1%-1.1pp	85.2%
Return on Equity	0.2%-0.0pp	0.2%0.0pp	0.2%0.0pp	0.2%-0.1pp	0.3%-0.2pp	0.4%-0.0pp	0.5%-0.1pp	0.6%
Return on Assets	0.2%-0.0pp	0.2%0.0pp	0.2%0.0pp	0.2%-0.0pp	0.2%-0.2pp	0.4%-0.0pp	0.5%-0.1pp	0.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.00-0.0	0.01+0.0	0.000.0	0.000.0	0.000.0	0.000.0	0.000.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Invesco CurrencyShares® Euro Currency Trust's annual revenue?

Invesco CurrencyShares® Euro Currency Trust (FXE) reported $5.1M in total revenue for fiscal year 2025. This represents a 7.4% 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 CurrencyShares® Euro Currency Trust's revenue growing?

Invesco CurrencyShares® Euro Currency Trust (FXE) revenue grew by 7.4% year-over-year, from $4.7M to $5.1M in fiscal year 2025.

Is Invesco CurrencyShares® Euro Currency Trust profitable?

Yes, Invesco CurrencyShares® Euro Currency Trust (FXE) reported a net income of $3.4M in fiscal year 2025, with a net profit margin of 67.6%.

What is Invesco CurrencyShares® Euro Currency Trust's net profit margin?

Invesco CurrencyShares® Euro Currency Trust (FXE) had a net profit margin of 67.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Invesco CurrencyShares® Euro Currency Trust's return on equity (ROE)?

Invesco CurrencyShares® Euro Currency Trust (FXE) has a return on equity of 0.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Invesco CurrencyShares® Euro Currency Trust's operating cash flow?

Invesco CurrencyShares® Euro Currency Trust (FXE) generated $3.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Invesco CurrencyShares® Euro Currency Trust's total assets?

Invesco CurrencyShares® Euro Currency Trust (FXE) had $428.8M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Invesco CurrencyShares® Euro Currency Trust have outstanding?

Invesco CurrencyShares® Euro Currency Trust (FXE) had 4M shares outstanding as of fiscal year 2025.

What is Invesco CurrencyShares® Euro Currency Trust's debt-to-equity ratio?

Invesco CurrencyShares® Euro Currency Trust (FXE) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Invesco CurrencyShares® Euro Currency Trust's return on assets (ROA)?

Invesco CurrencyShares® Euro Currency Trust (FXE) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Invesco CurrencyShares® Euro Currency Trust's Piotroski F-Score?

Invesco CurrencyShares® Euro Currency Trust (FXE) has a Piotroski F-Score of 2 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 CurrencyShares® Euro Currency Trust's earnings high quality?

Invesco CurrencyShares® Euro Currency Trust (FXE) has an earnings quality ratio of 0.99x, 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.