A Business at a Glance
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Invesco DB Precious Metals Fund (the “Fund”), a separate series of Invesco DB Multi-Sector Commodity Trust (the “Trust”), a Delaware statutory trust organized in seven separate series, was formed on August 3, 2006. The term of the Fund is perpetual (unless terminated earlier in certain circumstances) as provided for in the Fifth Amended and Restated Declaration of Trust and Trust Agreement of the Fund, as amended (the “Trust Agreement”). The Fund has an unlimited number of shares authorized for issuance. Invesco Capital Management LLC has served as the managing owner (the “Managing Owner”), commodity pool operator and commodity trading advisor of the Fund since February 23, 2015. The Managing Owner holds 40 general shares (the “General Shares”) of the Fund. The fiscal year end of the Fund is December 31st.
| Metric | TTM | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - |
| Net Income | 113M | 18M | -7.4M | 15M | -6.1M |
| EPS | $43.71 | $4.89 | $-2.04 | $3.85 | $2.65 |
| Free Cash Flow | 0 | -14M | 37M | -1.7M | -50M |
| ROIC | 43.7% | 1.3% | 1.3% | - | -0.7% |
| Gross Margin | - | - | - | - | - |
| Debt/Equity | 0.00 | - | - | - | - |
| Dividends/Share | $0.00 | $0.50 | $0.37 | $0.05 | - |
| Operating Income | 6.5M | 1.9M | 1.4M | - | -965K |
| Operating Margin | 0.0% | - | - | - | - |
| ROE | 43.7% | - | - | - | - |
| Shares Outstanding | 3M | 4M | 4M | 4M | - |
| Metric | 2016 | 2017 | |||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -965K | N/A | 1.4M | 1.9M | 6.5M |
| Op. Margin | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | -6.1M | 15M | -7.4M | 18M | 113M |
| Net Margin | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 12M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | -0.7% | N/A | 1.3% | 1.3% | 43.7% |
| ROE | N/A | N/A | N/A | N/A | 43.7% |
| ROA | -5.1% | 9.5% | -6.7% | 14.0% | 43.7% |
| Cash Flow | |||||
| Op. Cash Flow | -50M | -1.7M | 37M | -14M | 11M |
| Free Cash Flow | -50M | -1.7M | 37M | -14M | 0 |
| Owner Earnings | -51M | -2.9M | 34M | -17M | 9.9M |
| CapEx | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 570K | 1.3M | 2.4M | 2.6M | 985K |
| Growth CapEx | N/A | N/A | N/A | N/A | 0 |
| D&A | 570K | 1.3M | 2.4M | 2.6M | 985K |
| CapEx/OCF | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 181K | 1.3M | 1.8M | 0 |
| Dividend Yield | N/A | 0.1% | 1.2% | 1.5% | N/A |
| Share Buybacks | 183M | 52M | 83M | 52M | 49M |
| Buyback Yield | N/A | 41.3% | 72.2% | 39.4% | 17.1% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||
| Net Debt | N/A | N/A | N/A | N/A | 0 |
| Cash & Equiv. | 2.0M | 671K | 0 | 130K | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | N/A | N/A | N/A | N/A | 0.00 |
| Interest Coverage | -183.9 | N/A | 140.4 | 230.2 | 468.7 |
| Equity | N/A | N/A | N/A | N/A | 258M |
| Total Assets | 141M | 155M | 110M | 142M | 258M |
| Total Liabilities | N/A | N/A | N/A | N/A | 150K |
| Intangibles | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A |
| Working Capital | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||
| EPS | 2.65 | 3.85 | -2.04 | 4.89 | 43.71 |
| Owner EPS | N/A | -0.77 | 9.56 | -4.64 | 3.95 |
| Book Value | N/A | N/A | N/A | N/A | 103.02 |
| Cash Flow/Share | N/A | -0.44 | 10.22 | -3.91 | 45.44 |
| Dividends/Share | N/A | 0.05 | 0.37 | 0.50 | 0.00 |
| Shares Out. | N/A | 3.8M | 3.6M | 3.6M | 2.5M |
| Valuation | |||||
| P/E Ratio | 11.4 | 8.6 | N/A | 7.6 | 2.6 |
| P/FCF | N/A | N/A | 3.1 | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | 44.1 |
| Price/Book | N/A | N/A | N/A | N/A | 1.1 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | N/A | -1.3% | 32.0% | -10.6% | N/A |
| Market Cap | N/A | 126M | 115M | 133M | 287M |
| Avg. Price | 33.14 | 32.72 | 32.07 | 34.19 | 114.76 |
| Year-End Price | 30.14 | 33.25 | 31.90 | 36.95 | 114.76 |
Invesco DB Precious Metals Fund passes 2 of 9 quality checks, indicating weak fundamentals.
Invesco DB Precious Metals Fund trades at 23.5x trailing earnings, compared to its 15-year median P/E of 8.6x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 0.6%. Total shareholder yield (dividends + buybacks) is 17.5%. At current prices, the estimated annualized return to fair value is +15.0%.
Invesco DB Precious Metals Fund (DBP) has a current P/E ratio of 23.5, compared to its historical median P/E of 8.6. The stock is currently considered Expensive based on its historical valuation range.
Invesco DB Precious Metals Fund (DBP) has a 5-year average return on invested capital (ROIC) of 0.6%. This is below average and may indicate limited pricing power.
Invesco DB Precious Metals Fund (DBP) has a market capitalization of $287M. It is classified as a small-cap stock.
Yes, Invesco DB Precious Metals Fund (DBP) pays a dividend with a trailing twelve-month yield of 0.43%. The company also returns capital through share buybacks, with a buyback yield of 17.09%.
Based on historical P/E analysis, Invesco DB Precious Metals Fund (DBP) appears expensive. The current P/E of 23.5 is 172% above its historical median of 8.6. The estimated fair value CAGR (P/E method) is 11.4%.
Invesco DB Precious Metals Fund (DBP) operates in the Commodity Contracts Brokers & Dealers industry, within the Financials sector.
Invesco DB Precious Metals Fund (DBP) generated $-14 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Invesco DB Precious Metals Fund (DBP) reported earnings per share (EPS) of $4.89 in its most recent fiscal year.
The Ledger Terminal provides 4 years of financial data for Invesco DB Precious Metals Fund (DBP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
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