United States Commodity Index Fund, LP Financials

USCI

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2022 Currency USD FYE December

This page shows United States Commodity Index Fund, LP (USCI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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 USCI FY2021 2026-04-22

USCI shows a cash-heavy, lightly levered structure where capital flows matter more than operating build-out.

In FY2021, earnings quality tightened because $75.3M of net income almost matched $73.6M of operating cash flow, unlike earlier years when profit and cash often moved in opposite directions. A $212.0M financing inflow also lifted cash to $430.8M, showing how capital flows can reshape liquidity alongside the period’s reported return.

The balance-sheet posture is unusually conservative: one prior year carried only $3.1M of liabilities on $200.0M of assets. The next was even cleaner at $436K of liabilities against $129.0M of assets, so solvency pressure from lenders is minimal.

Earlier periods were extremely liquid, with cash equal to about 77.4% of assets in one year and 92.2% in the next. Another later year was still 84.9%, reinforcing a financial-asset-heavy model rather than one driven by inventory, capex, or gross-margin improvement.

Financial Health Signals

Financial Profile 17/100

Based on FY2021 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 United States Commodity Index Fund, LP'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.

Earnings Quality Mixed

0.98x

For every $1 of reported earnings, United States Commodity Index Fund, LP generates $0.98 in operating cash flow ($73.6M OCF vs $75.3M 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

N/A

EBITDA

N/A

Net Income

$75.3M

YoY+515.1%

United States Commodity Index Fund, LP reported $75.3M in net income in fiscal year 2021. This represents an increase of 515.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$430.8M

5Y CAGR-6.7%

10Y CAGR+3.3%

United States Commodity Index Fund, LP held $430.8M in cash against $0 in long-term debt as of fiscal year 2021.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

USCI Income Statement

Metric	FY21	FY20	FY19	FY18	FY17	FY16
Revenue	N/A	N/A	N/A	N/A	$34.1M	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	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$75.3M+515.1%	-$18.1M-122.9%	-$8.1M+89.1%	-$74.9M-362.0%	$28.6M+284.8%	-$15.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20	Q2'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$78.7M	N/A	N/A	N/A	$23.5M	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

USCI Balance Sheet

Metric	FY21	FY20	FY19	FY18	FY17	FY16
Total Assets	N/A	$129.0M-35.5%	$200.0M-57.9%	$475.6M-8.4%	$519.2M-20.3%	$651.2M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$430.8M	N/A	$169.7M-61.3%	$438.4M+9.1%	$401.9M-33.9%	$608.4M
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	$436K-85.9%	$3.1M+184.6%	$1.1M-69.5%	$3.6M-50.5%	$7.2M
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	$128.5M-34.7%	$196.9M-58.5%	$474.5M-8.0%	$515.6M-19.9%	$643.9M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20	Q2'20
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	$574.6M+33.4%	$430.8M-7.8%	$467.1M-6.1%	$497.3M+46.3%	$340.0M+105.2%	$165.7M+32.8%	$124.7M-3.1%	$128.7M
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

USCI Cash Flow Statement

Metric	FY21	FY20	FY19	FY18	FY17	FY16
Operating Cash Flow	$73.6M+377.3%	-$26.5M-3.8%	-$25.6M-220.0%	$21.3M+142.1%	-$50.6M-394.0%	-$10.2M
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	$212.0M+4649.6%	-$4.7M+98.3%	-$267.6M-890.8%	$33.8M+120.8%	-$162.9M-215.8%	$140.7M
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	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20	Q2'20
Operating Cash Flow	$65.6M+175.5%	$23.8M+587.9%	-$4.9M-114.5%	$33.6M+59.9%	$21.0M+80.8%	$11.6M-4.9%	$12.2M+358.1%	-$4.7M
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	$80.1M+221.5%	-$65.9M-88.5%	-$34.9M-124.1%	$144.8M-13.8%	$168.1M+543.7%	$26.1M+207.9%	-$24.2M-383.7%	$8.5M
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

USCI Financial Ratios

Metric	FY21	FY20	FY19	FY18	FY17	FY16
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	N/A	N/A	N/A	N/A	84.0%	N/A
Return on Equity	N/A	-14.1%-10.0pp	-4.1%+11.7pp	-15.8%-21.3pp	5.5%+8.0pp	-2.4%
Return on Assets	N/A	-14.1%-10.0pp	-4.1%+11.7pp	-15.8%-21.3pp	5.5%+7.9pp	-2.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	N/A	0.00-0.0	0.02+0.0	0.000.0	0.010.0	0.01
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'22	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20	Q2'20
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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

Is United States Commodity Index Fund, LP profitable?

Yes, United States Commodity Index Fund, LP (USCI) reported a net income of $75.3M in fiscal year 2021.

What is United States Commodity Index Fund, LP's operating cash flow?

United States Commodity Index Fund, LP (USCI) generated $73.6M in operating cash flow during fiscal year 2021, representing cash generated from core business activities.

Are United States Commodity Index Fund, LP's earnings high quality?

United States Commodity Index Fund, LP (USCI) has an earnings quality ratio of 0.98x, 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.

How financially healthy is United States Commodity Index Fund, LP?

United States Commodity Index Fund, LP (USCI) scores 17 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.