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iShares S&P GSCI Commodity-Indexed Trust
GSG
$1.5B
Mkt Cap
$32.77
-1.12%
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a current P/E ratio of 26.0, compared to its historical median P/E of 11.0. The stock is currently considered Expensive based on its historical valuation range.
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a 5-year average return on invested capital (ROIC) of 38.5%. This indicates strong capital allocation and a potential competitive advantage.
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a market capitalization of $1.0B. It is classified as a small-cap stock.
iShares S&P GSCI Commodity-Indexed Trust (GSG) does not currently pay a regular dividend.
Based on historical P/E analysis, iShares S&P GSCI Commodity-Indexed Trust (GSG) appears expensive. The current P/E of 26.0 is 137% above its historical median of 11.0. The estimated fair value CAGR (P/E method) is 4.3%.
iShares S&P GSCI Commodity-Indexed Trust (GSG) operates in the Commodity Contracts Brokers & Dealers industry, within the Financials sector.
PART I The iShares S&P GSCI™ Commodity-Indexed Trust (the “Trust”) is a Delaware statutory trust that issues units of beneficial interest, called “Shares,” representing fractional undivided beneficial interests in its net assets. The Trust’s assets consist of long positions in exchange-traded index futures contracts of various expirations (the “Index Futures”) on the S&P GSCI™ Excess Return Index (the “S&P GSCI-ER”), together with cash, U.S. Treasury securities or other short-term securities and similar securities that are eligible as margin deposits for those Index Futures positions (the “Collateral Assets”). The Trust seeks to track the results, before expenses and liabilities, of the S&P GSCI Total Return Index (the “Index”), which represents a diversified, fully collateralized investment in futures contracts. iShares Delaware Trust Sponsor LLC, a Delaware limited liability company, is the sponsor of the Trust (the “Sponsor”). BlackRock Institutional Trust Company, N.A.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 40M | 43M | 51M | 53M | - | - |
| Net Income | 328M | 57M | 70M | -67M | 391M | 366M |
| EPS | $10.45 | $1.26 | $1.53 | $-1.28 | $4.82 | $4.51 |
| Free Cash Flow | 0 | 58M | 70M | 184M | 565M | 206M |
| ROIC | 220.8% | 17.9% | 34.9% | -20.8% | 78.2% | 82.3% |
| Gross Margin | - | 80.5% | 84.2% | 98.6% | - | - |
| Debt/Equity | 0.00 | 1.71 | 3.07 | 4.88 | 1.55 | 1.74 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 32M | 34M | 43M | 44M | - | - |
| Operating Margin | 79.8% | 80.5% | 84.2% | 83.0% | - | - |
| ROE | 220.8% | 17.9% | 34.9% | -20.8% | 78.2% | 82.3% |
| Shares Outstanding | 31M | 45M | 46M | 52M | 81M | 81M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 53M | 51M | 43M | 40M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 98.6% | 84.2% | 80.5% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | N/A | N/A | -5.1M | N/A | 13M | 13M | N/A | N/A | N/A | 44M | 43M | 34M | 32M |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 83.0% | 84.2% | 80.5% | 79.8% |
| Net Income | -379M | -303M | 84M | 80M | -190M | 175M | -184M | 366M | 391M | -67M | 70M | 57M | 328M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -126.6% | 136.6% | 133.9% | 818.9% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | N/A | -58.9% | 26.0% | 21.5% | -60.6% | 75.8% | -67.1% | 82.3% | 78.2% | -20.8% | 34.9% | 17.9% | N/M |
| ROE | N/A | -58.9% | 26.0% | 21.5% | -60.6% | 75.8% | -67.1% | 82.3% | 78.2% | -20.8% | 34.9% | 17.9% | 220.8% |
| ROA | -38.4% | -41.5% | 9.9% | 6.6% | -14.7% | 17.7% | -22.9% | 32.4% | 29.5% | -6.1% | 7.3% | 5.6% | 32.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 4.4M | -185M | 259M | 267M | -42M | 631M | -257M | 206M | 565M | 184M | 70M | 58M | 348M |
| Free Cash Flow | 4.4M | -185M | 259M | 267M | -42M | 631M | -257M | 206M | 565M | 184M | 70M | 58M | 0 |
| Owner Earnings | 4.4M | -200M | 256M | 193M | -158M | 611M | -300M | 169M | 505M | 176M | 70M | 58M | 348M |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 0 | 15M | 2.8M | 74M | 117M | 20M | 42M | 37M | 60M | 8.2M | 0 | 0 | 0 |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 0 | 15M | 2.8M | 74M | 117M | 20M | 42M | 37M | 60M | 8.2M | 0 | 0 | 0 |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -954M |
| Cash & Equiv. | 12M | 7.7M | 35M | 42M | 10M | 31M | 21M | 42M | 5.2M | -2.7M | -933K | -1.0M | 954M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | N/A | 1.74 | 1.57 | 3.01 | 3.27 | 3.29 | 1.25 | 1.74 | 1.55 | 4.88 | 3.07 | 1.71 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | N/A | 242M | 401M | 346M | 281M | 180M | 367M | 522M | 477M | 164M | 237M | 398M | 149M |
| Total Assets | 799M | 663M | 1.0B | 1.4B | 1.2B | 773M | 827M | 1.4B | 1.2B | 965M | 964M | 1.1B | 996M |
| Total Liabilities | N/A | 421M | 632M | 1.0B | 919M | 593M | 460M | 909M | 738M | 801M | 728M | 680M | -41M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | 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 | N/A | N/A | N/A | N/A | N/A |
| Working Capital | N/A | N/A | N/A | N/A | N/A | 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 | 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 | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | -11.24 | -7.24 | 1.43 | 1.05 | -2.29 | 2.79 | -3.09 | 4.51 | 4.82 | -1.28 | 1.53 | 1.26 | 10.45 |
| Owner EPS | 0.13 | -4.78 | 4.37 | 2.52 | -1.90 | 9.75 | -5.04 | 2.09 | 6.23 | 3.38 | 1.52 | 1.29 | 11.17 |
| Book Value | N/A | 5.78 | 6.86 | 4.52 | 3.38 | 2.88 | 6.17 | 6.43 | 5.89 | 3.15 | 5.17 | 8.81 | 4.77 |
| Cash Flow/Share | 0.13 | -4.42 | 4.42 | 3.49 | -0.50 | 10.06 | -4.33 | 2.54 | 6.97 | 3.54 | 1.52 | 1.29 | 10.53 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 33.8M | 41.9M | 58.5M | 76.6M | 83.1M | 62.7M | 59.4M | 81.2M | 81.1M | 52.0M | 45.7M | 45.2M | 31.1M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 11.0 | 15.5 | N/A | 5.9 | N/A | 3.8 | 4.4 | N/A | 14.0 | 18.4 | 3.1 |
| P/FCF | 167.4 | N/A | 3.5 | 4.7 | N/A | 1.6 | N/A | 6.8 | 3.0 | 5.7 | 14.1 | 18.0 | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 2.1 |
| Price/Book | 20.1 | 12.6 | 13.8 | 14.6 | 13.4 | 21.5 | 10.7 | 16.7 | 29.6 | 21.8 | 22.0 | 22.4 | 6.9 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 20.4 | 19.1 | 23.8 | 25.5 |
| FCF Yield | 0.6% | -31.4% | 28.2% | 21.5% | -3.6% | 61.4% | -35.8% | 14.7% | 33.1% | 17.5% | 7.1% | 5.5% | N/A |
| Market Cap | 741M | 589M | 917M | 1.2B | 1.2B | 1.0B | 720M | 1.4B | 1.7B | 1.0B | 980M | 1.0B | 1.0B |
| Avg. Price | 30.86 | 18.81 | 14.46 | 14.83 | 16.89 | 15.51 | 11.33 | 15.50 | 21.99 | 20.66 | 21.44 | 22.44 | 32.77 |
| Year-End Price | 21.94 | 14.07 | 15.67 | 16.27 | 13.97 | 16.38 | 12.11 | 17.25 | 21.04 | 20.18 | 21.42 | 23.22 | 32.77 |
iShares S&P GSCI Commodity-Indexed Trust passes 3 of 9 quality checks, indicating weak fundamentals.
iShares S&P GSCI Commodity-Indexed Trust trades at 26.0x trailing earnings, compared to its 15-year median P/E of 11.0x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 38.5% with a gross margin of 87.8%. At current prices, the estimated annualized return to fair value is -10.6%.
iShares S&P GSCI Commodity-Indexed Trust (GSG) reported annual revenue of $43 million in its most recent fiscal year, based on SEC EDGAR filings.
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a net profit margin of 133.9%. This is a strong margin indicating high profitability.
iShares S&P GSCI Commodity-Indexed Trust (GSG) generated $58 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a debt-to-equity ratio of 1.71. This indicates higher leverage, which may increase financial risk.
iShares S&P GSCI Commodity-Indexed Trust (GSG) reported earnings per share (EPS) of $1.26 in its most recent fiscal year.
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a return on equity (ROE) of 17.9%. This indicates the company generates strong returns for shareholders.
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a 5-year average gross margin of 87.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for iShares S&P GSCI Commodity-Indexed Trust (GSG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a book value per share of $8.81, based on its most recent annual SEC filing.
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