Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data INVESCO DB AGRICULTURE FUND 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
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Operating expenses
6.94
6.72
6.06
3.94
4
8.2
14.8
8.12
6.86
7.26
Operating income
-4.79
-0.68
5.67
5.47
-1.64
-7.73
7.25
35.8
31.5
26.4
Interest expense
0.01
0.01
0.05
0.04
0.01
0.01
0.1
0.15
Net income
-30.9
-46.2
-64.9
-7.29
29.2
162
-68
60.6
210
-9.83
EBITDA
-6.87
-5.74
-4.03
-1.51
-2.7
-7.89
-1.53
16.9
15.3
21.9
EPS, basic
-0.69
EPS, diluted
-0.69
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
2.18
2.26
0
0.16
6.66
0
4.72
13.5
0
Total assets
724
642
500
348
649
1,031
1,091
719
788
726
Total liabilities
0.63
0.45
5.22
0.24
0.41
12.5
18.3
14.7
0.53
3.04
Shareholders' equity
723
642
495
348
648
1,018
1,073
704
787
723
Total equity
723
642
495
348
648
1,018
1,073
704
787
723
Total liabilities and equity
724
642
500
348
649
1,031
1,091
719
788
726
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-30.9
-46.2
-64.9
-7.29
29.2
162
-68
60.6
210
-9.83
Depreciation and amortization
-2.07
-5.06
-9.7
-6.97
-1.05
-0.17
-8.78
-18.9
-16.3
-4.48
Cash from operations
-123
35.3
76.6
143
-265
-215
-139
448
137
38.7
Purchases of investments
-297
-1,337
-750
Sales and maturities of investments
278
1,232
780
Stock issued
315
232
187
89.3
421
538
1,560
133
149
177
Share buybacks
-235
-267
-264
-224
-149
-330
-1,416
-543
-245
-203
Dividends paid
-5.4
-5.4
-5.67
-33.9
-32.1
-25.9
Cash from financing
80.2
-35.2
-78.9
-143
272
208
139
-444
-129
-52.2
Net change in cash
-2.26
0.16
6.5
-6.66
4.72
8.75
-13.5
Interest paid
0.01
0.01
0.05
0.04
0.01
0.01
0.1
0.15
0.21
0.05
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 $28.54 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
2.3%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
2.2%
Net income / average total assets.
Return on invested capital (ROIC)
1.8%
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
Operating income growth, 1y
-16.3%
Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y
53.8%
Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y
43.5%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-104.7%
Net income vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-71.8%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-8.2%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-12.3%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
2.2%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-7.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-12.7%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
2.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Market cap + total debt - cash - short-term investments.
P/E
46.1x
Market cap / net income. Only when net income is positive.
P/B
1.07x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.07x
Market cap / tangible book value, when positive.
EV/EBIT
46.1x
Enterprise value / operating income, when both are positive.
EV/EBITDA
46.1x
Enterprise value / EBITDA, when both are positive.
Earnings yield
2.2%
Net income / market cap (the inverse of P/E).
Shareholder yield
47.4%
(Dividends paid + share buybacks) / market cap.
Was INVESCO DB AGRICULTURE FUND profitable in fiscal 2025?
No. It reported a net loss of $9.8M.
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.