Income statement, balance sheet and cash flow statement for the last 2 fiscal years, taken from the XBRL data Invesco Galaxy Bitcoin ETF files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2024
FY2025
Revenue
0
Operating expenses
1.2
1.51
Operating income
-0.72
-1.51
Net income
406
-72.3
Balance sheet
FY2024
FY2025
Cash and equivalents
0
0
Total assets
728
544
Total liabilities
0.18
0.12
Paid-in capital
321
210
Retained earnings
406
334
Shareholders' equity
728
544
Total equity
728
544
Total liabilities and equity
728
544
Cash flow statement
FY2024
FY2025
Net income
406
-72.3
Cash from operations
-321
111
Stock issued
725
268
Share buybacks
-403
-379
Cash from financing
321
-111
Net change in cash
-0.1
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $82.87 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-97.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-97.6%
Net income / average total assets.
Return on invested capital (ROIC)
-0.3%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Growth
Metric
Value
How it is calculated
Net income growth, 1y
-117.8%
Net income vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-25.2%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-25.2%
Total assets vs the same period a year earlier. Only from a positive base.
Market cap + total debt - cash - short-term investments.
P/B
1.41x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.41x
Market cap / tangible book value, when positive.
Earnings yield
-69.3%
Net income / market cap (the inverse of P/E).
Shareholder yield
39.8%
(Dividends paid + share buybacks) / market cap.
Was Invesco Galaxy Bitcoin ETF profitable in fiscal 2025?
No. It reported a net loss of $72.3M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.