UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B Financials
This page shows UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
UCIB’s earnings are balance-sheet driven, with tiny asset returns on a massive funding base doing more work than classic margins.
The key FY2025 change was cash conversion: operating cash flow moved to$24.6B after negative flow in both FY2023 and FY2024, even though net income recovered only to$3.6B . Because equity still slipped from FY2024 and retained earnings turned negative, the rebound looks more like normalization in balance-sheet cash generation than a full rebuilding of the capital base.
Profitability is structurally thin on assets: FY2025 return on assets was only
Cash was used more aggressively than profits suggest: dividends of
Financial Health Signals
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 UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B'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.
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's revenue grew 12.7% year-over-year to $47.7B, a solid pace of expansion. This earns a growth score of 65/100.
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B has elevated debt relative to equity (D/E of 17.13), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B generates a 4.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 19/100. This is up from 1.6% the prior year.
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B generates $6.89 in operating cash flow ($24.6B OCF vs $3.6B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B generated $47.7B in revenue in fiscal year 2025. This represents an increase of 12.7% from the prior year.
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B reported $3.6B in net income in fiscal year 2025. This represents an increase of 132.6% from the prior year.
Cash & Balance Sheet
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B held $231.0B in cash against $0 in long-term debt as of fiscal year 2025.
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B had 3.86B shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's net profit margin was 7.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.9 percentage points from the prior year.
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's ROE was 4.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the prior year.
Capital Allocation
UCIB Income Statement
| Metric | Q4'25 | Q2'25 | Q1'25 | Q4'24 | Q2'24 | Q1'24 | Q4'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $11.6B-4.3% | $12.2B | N/A | $9.9B+8.7% | $9.1B | N/A | $8.5B |
| 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 | $37.0M+5.7% | $35.0M | N/A | $29.0M+31.8% | $22.0M | N/A | $25.0M |
| Income Tax | N/A | -$336.0M-210.9% | $303.0M | N/A | $28.0M-92.3% | $366.0M | N/A | $332.0M |
| Net Income | N/A | $1.2B+15.7% | $1.0B | N/A | -$224.0M-122.1% | $1.0B | N/A | $1.1B |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
UCIB Balance Sheet
| Metric | Q4'25 | Q2'25 | Q1'25 | Q4'24 | Q2'24 | Q1'24 | Q4'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.6T-3.3% | $1.7T+8.0% | $1.5T-1.3% | $1.6T+0.2% | $1.6T+40.1% | $1.1T-3.4% | $1.2T0.0% | $1.2T |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $231.0B-10.6% | $258.3B | N/A | $243.4B-12.3% | $277.5B | N/A | $190.5B+5.3% | $181.0B |
| 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 | $6.6B-2.3% | $6.8B+0.9% | $6.7B+2.9% | $6.5B-7.4% | $7.0B+12.6% | $6.2B+4.0% | $6.0B-4.5% | $6.3B |
| Total Liabilities | $1.5T-3.1% | $1.6T+8.7% | $1.5T-1.6% | $1.5T+0.2% | $1.5T+38.5% | $1.1T-3.5% | $1.1T+5.5% | $1.0T |
| 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 | $89.2B-6.0% | $94.9B-2.3% | $97.1B+2.6% | $94.7B+0.4% | $94.2B+70.2% | $55.4B-0.4% | $55.6B+4.3% | $53.3B |
| Retained Earnings | -$2.1B-158.0% | $3.7B-59.4% | $9.1B+16.5% | $7.8B+5.7% | $7.4B-74.6% | $29.2B+3.5% | $28.2B+1.5% | $27.8B |
UCIB Cash Flow Statement
| Metric | Q4'25 | Q2'25 | Q1'25 | Q4'24 | Q2'24 | Q1'24 | Q4'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 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 |
UCIB Financial Ratios
| Metric | Q4'25 | Q2'25 | Q1'25 | Q4'24 | Q2'24 | Q1'24 | Q4'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | 10.3%+1.8pp | 8.5% | N/A | -2.3%-13.4pp | 11.1% | N/A | 13.3% |
| Return on Equity | N/A | 1.3%+0.2pp | 1.1% | N/A | -0.2%-2.1pp | 1.8% | N/A | 2.1% |
| Return on Assets | N/A | 0.1%0.0pp | 0.1% | N/A | -0.0%-0.1pp | 0.1% | N/A | 0.1% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 17.13+0.5 | 16.63+1.7 | 14.93-0.6 | 15.56-0.0 | 15.60-3.6 | 19.17-0.6 | 19.80+0.2 | 19.58 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
What is UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's annual revenue?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) reported $47.7B in total revenue for fiscal year 2025. This represents a 12.7% 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 UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's revenue growing?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) revenue grew by 12.7% year-over-year, from $42.3B to $47.7B in fiscal year 2025.
Is UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B profitable?
Yes, UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) reported a net income of $3.6B in fiscal year 2025, with a net profit margin of 7.5%.
What is UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's net profit margin?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) had a net profit margin of 7.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's return on equity (ROE)?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) has a return on equity of 4.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's operating cash flow?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) generated $24.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's total assets?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) had $1.6T in total assets as of fiscal year 2025, including both current and long-term assets.
What is UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's debt-to-equity ratio?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) had a debt-to-equity ratio of 17.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's return on assets (ROA)?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) had a return on assets of 0.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's Piotroski F-Score?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B's earnings high quality?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) has an earnings quality ratio of 6.89x, 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.
How financially healthy is UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B?
UBS ETRACS UBS Bloomberg Constant Maturity Commodity Index (CMCI) Total Return ETN Series B (UCIB) scores 14 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.