Source SEC Filings (10-K/10-Q)Updated Dec 31, 2025Currency USDFYE December
This page shows iShares MSCI USA ETF USD Acc (ISMCF) financial statements, including the
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).
Financial Health Signals
Earnings QualityLow Quality
-1.02x
For every $1 of reported earnings, iShares MSCI USA ETF USD Acc generates $-1.02 in operating cash flow (-$58.2M OCF vs $57.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
iShares MSCI USA ETF USD Acc generated $42.5M in revenue in fiscal year 2025. This represents a decrease of 17.0% from the prior year.
EBITDA
N/A
Net Income
$57.0M
YoY-18.6%
iShares MSCI USA ETF USD Acc reported $57.0M in net income in fiscal year 2025. This represents a decrease of 18.6% from the prior year.
EPS (Diluted)
N/A
Cash & Balance Sheet
Free Cash Flow
N/A
Cash & Debt
N/A
Dividends Per Share
N/A
Shares Outstanding
43M
YoY-7.7%
5Y CAGR-9.7%
10Y CAGR-0.9%
iShares MSCI USA ETF USD Acc had 43M shares outstanding in fiscal year 2025. This represents a decrease of 7.7% from the prior year.
Margins & Returns
Gross Margin
N/A
Operating Margin
80.5%
YoY-3.6pp
5Y CAGR+141.3pp
10Y CAGR+2757.0pp
iShares MSCI USA ETF USD Acc's operating margin was 80.5% in fiscal year 2025, reflecting core business profitability. This is down 3.6 percentage points from the prior year.
Net Margin
133.9%
YoY-2.7pp
5Y CAGR+5039.6pp
10Y CAGR+128754.7pp
iShares MSCI USA ETF USD Acc's net profit margin was 133.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.7 percentage points from the prior year.
Return on Equity
N/A
Capital Allocation
R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A
ISMCF Income Statement
Metric
FY25
FY24
FY23
FY22
FY21
FY20
Revenue
$42.5M-17.0%
$51.3M-2.5%
$52.6M+135.6%
$22.3M+5135.8%
$426K-88.6%
$3.7M
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
$34.3M-20.6%
$43.1M-1.2%
$43.7M+480.2%
$7.5M+172.4%
-$10.4M-356.2%
-$2.3M
Interest Expense
N/A
N/A
N/A
N/A
N/A
N/A
Income Tax
N/A
N/A
N/A
N/A
N/A
N/A
Net Income
$57.0M-18.6%
$70.0M+205.2%
-$66.5M-117.0%
$390.8M+6.8%
$366.0M+299.3%
-$183.6M
EPS (Diluted)
N/A
N/A
N/A
N/A
N/A
N/A
Metric
Q4'25
Q3'25
Q2'25
Q1'25
Q4'24
Q3'24
Q2'24
Q1'24
Revenue
$10.7M-1.0%
$10.8M+10.1%
$9.8M-11.6%
$11.1M+0.7%
$11.1M-15.2%
$13.0M-7.8%
$14.1M+8.7%
$13.0M
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
$8.5M-3.1%
$8.8M+10.7%
$7.9M-12.1%
$9.0M-1.2%
$9.1M-17.6%
$11.1M-7.2%
$11.9M+8.5%
$11.0M
Interest Expense
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Income Tax
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Net Income
$8.9M-76.9%
$38.6M+206.9%
-$36.1M-179.3%
$45.6M+37.9%
$33.0M+155.2%
-$59.9M-1431.0%
$4.5M-95.1%
$92.3M
EPS (Diluted)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
ISMCF Balance Sheet
Metric
FY25
FY24
FY23
FY22
FY21
FY20
Total Assets
N/A
N/A
N/A
N/A
N/A
N/A
Current Assets
N/A
N/A
N/A
N/A
N/A
N/A
Cash & Equivalents
N/A
N/A
N/A
$5.2M-87.6%
$41.6M+101.8%
$20.6M
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
N/A
N/A
N/A
N/A
N/A
N/A
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
N/A
N/A
N/A
N/A
N/A
N/A
Retained Earnings
N/A
N/A
N/A
N/A
N/A
N/A
Metric
Q4'25
Q3'25
Q2'25
Q1'25
Q4'24
Q3'24
Q2'24
Q1'24
Total Assets
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Current Assets
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Cash & Equivalents
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
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
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
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
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Retained Earnings
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
ISMCF Cash Flow Statement
Metric
FY25
FY24
FY23
FY22
FY21
FY20
Operating Cash Flow
-$58.2M-183.7%
$69.6M-62.1%
$183.8M-67.5%
$565.1M+373.8%
-$206.4M+19.8%
-$257.3M
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
$57.2M+181.1%
-$70.5M+62.2%
-$186.5M+69.0%
-$601.5M-364.5%
$227.4M-7.8%
$246.7M
Dividends Paid
N/A
N/A
N/A
N/A
N/A
N/A
Share Buybacks
N/A
N/A
N/A
N/A
N/A
N/A
Metric
Q4'25
Q3'25
Q2'25
Q1'25
Q4'24
Q3'24
Q2'24
Q1'24
Operating Cash Flow
-$81.8M-1294.9%
$6.8M-88.1%
$57.3M+241.3%
-$40.5M+21.5%
-$51.6M-133.3%
$155.1M+357.0%
-$60.3M-328.1%
$26.5M
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
$82.1M+1208.0%
-$7.4M+87.1%
-$57.6M-243.9%
$40.0M-24.7%
$53.1M+133.8%
-$157.3M-364.2%
$59.5M+329.8%
-$25.9M
Dividends Paid
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Share Buybacks
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
ISMCF 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
80.5%-3.6pp
84.2%+1.1pp
83.0%+49.3pp
33.7%+2471.4pp
-2437.7%-2376.8pp
-60.8%
Net Margin
133.9%-2.7pp
136.6%+263.2pp
-126.6%-1878.6pp
1752.0%-84158.7pp
85910.7%+90816.5pp
-4905.8%
Return on Equity
N/A
N/A
N/A
N/A
N/A
N/A
Return on Assets
N/A
N/A
N/A
N/A
N/A
N/A
Current Ratio
N/A
N/A
N/A
N/A
N/A
N/A
Debt-to-Equity
N/A
N/A
N/A
N/A
N/A
N/A
FCF Margin
N/A
N/A
N/A
N/A
N/A
N/A
Metric
Q4'25
Q3'25
Q2'25
Q1'25
Q4'24
Q3'24
Q2'24
Q1'24
Gross Margin
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Operating Margin
79.3%-1.7pp
81.0%+0.5pp
80.6%-0.5pp
81.0%-1.6pp
82.6%-2.4pp
85.0%+0.6pp
84.4%-0.1pp
84.5%
Net Margin
83.0%-273.6pp
356.6%+723.7pp
-367.1%-776.3pp
409.2%+110.3pp
298.9%+758.2pp
-459.3%-491.1pp
31.8%-677.6pp
709.4%
Return on Equity
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Return on Assets
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Current Ratio
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Debt-to-Equity
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
FCF Margin
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Frequently Asked Questions
What is iShares MSCI USA ETF USD Acc's annual revenue?
iShares MSCI USA ETF USD Acc (ISMCF) reported $42.5M in total revenue for fiscal year 2025. This represents a -17.0% 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 iShares MSCI USA ETF USD Acc's revenue growing?
iShares MSCI USA ETF USD Acc (ISMCF) revenue declined by 17% year-over-year, from $51.3M to $42.5M in fiscal year 2025.
Is iShares MSCI USA ETF USD Acc profitable?
Yes, iShares MSCI USA ETF USD Acc (ISMCF) reported a net income of $57.0M in fiscal year 2025, with a net profit margin of 133.9%.
What is iShares MSCI USA ETF USD Acc's operating margin?
iShares MSCI USA ETF USD Acc (ISMCF) had an operating margin of 80.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is iShares MSCI USA ETF USD Acc's net profit margin?
iShares MSCI USA ETF USD Acc (ISMCF) had a net profit margin of 133.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is iShares MSCI USA ETF USD Acc's operating cash flow?
iShares MSCI USA ETF USD Acc (ISMCF) generated -$58.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
How many shares does iShares MSCI USA ETF USD Acc have outstanding?
iShares MSCI USA ETF USD Acc (ISMCF) had 43M shares outstanding as of fiscal year 2025.
Are iShares MSCI USA ETF USD Acc's earnings high quality?
iShares MSCI USA ETF USD Acc (ISMCF) has an earnings quality ratio of -1.02x, 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.
