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Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund

ARCA:DBB
Snowflake Description

Excellent balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DBB
ARCA
$178M
Imp Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is an exchange traded fund launched by Invesco Ltd. The last earnings update was 22 days ago. More info.


Add to Portfolio Compare Print
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
DBB Share Price and Events
7 Day Returns
0.1%
ARCA:DBB
-0.2%
US Capital Markets
0.4%
US Market
1 Year Returns
-7.8%
ARCA:DBB
-12.4%
US Capital Markets
3.5%
US Market
DBB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund (DBB) 0.1% 1.7% 5.2% -7.8% 35% 5.6%
US Capital Markets -0.2% -1.4% 11.7% -12.4% 55.2% 57.9%
US Market 0.4% 1.6% 16.4% 3.5% 39.4% 44%
1 Year Return vs Industry and Market
  • DBB outperformed the Capital Markets industry which returned -12.4% over the past year.
  • DBB underperformed the Market in United States of America which returned 3.5% over the past year.

DBB Value

 Is Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund.

ARCA:DBB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $16.31 * 7.9%
$1.28
Book Value of Equity per Share Median Book Value from the past 5 years. $16.31
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ARCA:DBB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.726 (1 + (1- 21%) (1.48%))
0.822
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.822 * 5.96%)
7.63%

Discounted Cash Flow Calculation for ARCA:DBB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

ARCA:DBB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.9% – 7.63%) * $16.31)
$0.04
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.04 / (7.63% - 2.73%)
$0.82
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $16.31 + $0.82
$17.13
ARCA:DBB Discount to Share Price
Calculation Result
Value per share (USD) From above. $17.13
Current discount Discount to share price of $16.66
= -1 x ($16.66 - $17.13) / $17.13
2.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is available for.
Intrinsic value
3%
Share price is $16.66 vs Future cash flow value of $17.13
Current Discount Checks
For Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ARCA:DBB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-6.02
ARCA:DBB Share Price ** ARCA (2019-03-22) in USD $16.66
United States of America Capital Markets Industry PE Ratio Median Figure of 78 Publicly-Listed Capital Markets Companies 23.69x
United States of America Market PE Ratio Median Figure of 3,058 Publicly-Listed Companies 17.52x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund.

ARCA:DBB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ARCA:DBB Share Price ÷ EPS (both in USD)

= 16.66 ÷ -6.02

-2.77x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is loss making, we can't compare its value to the US Capital Markets industry average.
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's expected growth come at a high price?
Raw Data
ARCA:DBB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.77x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 33 Publicly-Listed Capital Markets Companies 2.14x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's assets?
Raw Data
ARCA:DBB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $15.44
ARCA:DBB Share Price * ARCA (2019-03-22) in USD $16.66
United States of America Capital Markets Industry PB Ratio Median Figure of 150 Publicly-Listed Capital Markets Companies 4.83x
United States of America Market PB Ratio Median Figure of 5,157 Publicly-Listed Companies 1.88x
ARCA:DBB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ARCA:DBB Share Price ÷ Book Value per Share (both in USD)

= 16.66 ÷ 15.44

1.08x

* Primary Listing of Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

DBB Future Performance

 How is Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.5%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund expected to grow at an attractive rate?
  • Unable to compare Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ARCA:DBB Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.5%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ARCA:DBB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ARCA:DBB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 5 88 -63
2018-09-30 5 69 -30
2018-06-30 4 -82 16
2018-03-31 3 -46 21
2017-12-31 2 41 71
2017-09-30 1 -41 66
2017-06-30 1 -54 46
2017-03-31 1 -126 59
2016-12-31 0 -139 36
2016-09-30 0 -22 10
2016-06-30 0 50 -18
2016-03-31 0 5 -44

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is high growth as no earnings estimate data is available.
  • Unable to determine if Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ARCA:DBB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ARCA:DBB Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -6.02
2018-09-30 -2.64
2018-06-30 0.98
2018-03-31 1.33
2017-12-31 4.44
2017-09-30 4.13
2017-06-30 3.58
2017-03-31 3.42
2016-12-31 3.08
2016-09-30 0.78
2016-06-30 -2.12
2016-03-31 -5.41

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

DBB Past Performance

  How has Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's 1-year growth to the US Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ARCA:DBB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 5.34 -62.63 2.08
2018-09-30 4.69 -30.13 2.30
2018-06-30 3.77 16.44 2.37
2018-03-31 2.79 21.43 2.22
2017-12-31 2.02 71.15 2.12
2017-09-30 1.47 66.11 2.07
2017-06-30 1.05 45.81 1.94
2017-03-31 0.74 58.83 1.71
2016-12-31 0.47 35.73 1.38
2016-09-30 0.28 10.15 1.16
2016-06-30 0.18 -18.22 1.13
2016-03-31 0.12 -44.40 1.34
2015-12-31 0.07 -57.65 1.49
2015-09-30 0.05 -63.76 1.72
2015-06-30 0.05 -43.47 2.03
2015-03-31 0.07 -6.07 2.15
2014-12-31 0.09 -12.33 2.31
2014-09-30 0.09 2.88 2.26
2014-06-30 0.10 13.09 2.12
2014-03-31 0.12 -34.39 2.16
2013-12-31 0.14 -46.90 2.28
2013-09-30 0.19 -60.26 2.42
2013-06-30 0.24 -43.49 2.55
2013-03-31 0.26 -50.95 2.59
2012-12-31 0.23 5.05 2.66
2012-09-30 0.18 19.57 2.80
2012-06-30 0.16 -129.53 3.20
2012-03-31 0.21 -110.07 3.71

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has efficiently used its assets last year compared to the US Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

DBB Health

 How is Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 73.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund Company Filings, last reported 2 months ago.

ARCA:DBB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 160.56 2.63 5.11
2018-09-30 189.96 0.00 6.53
2018-06-30 306.72 0.00 15.18
2018-03-31 348.91 0.00 18.62
2017-12-31 314.09 0.00 23.10
2017-09-30 289.29 0.00 14.26
2017-06-30 208.77 0.00 6.46
2017-03-31 281.76 0.00 4.48
2016-12-31 284.14 0.00 19.28
2016-09-30 182.53 0.00 6.87
2016-06-30 114.98 0.00
2016-03-31 101.76 0.00
2015-12-31 113.98 0.00
2015-09-30 152.99 0.00
2015-06-30 187.27 0.00
2015-03-31 203.72 0.00
2014-12-31 220.65 0.00
2014-09-30 329.45 0.00
2014-06-30 315.58 0.00
2014-03-31 304.31 0.00
2013-12-31 234.90 0.00
2013-09-30 271.58 0.00
2013-06-30 310.32 0.00
2013-03-31 336.83 0.00
2012-12-31 309.98 0.00
2012-09-30 380.20 0.00
2012-06-30 331.62 0.00
2012-03-31 349.77 0.00
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's level of debt (1.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 1.6% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by % per year.
X
Financial health checks
We assess Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

DBB Dividends

 What is Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.46%
Current annual income from Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund dividends.
If you bought $2,000 of Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund shares you are expected to receive $29 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's dividend is below the markets top 25% of dividend payers in United States of America (3.67%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ARCA:DBB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2006 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ARCA:DBB Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-28 0.244 1.462
2010-11-05 0.000 0.000
2010-08-06 0.000 0.000
2010-06-25 0.000 0.000
2010-05-10 0.000 0.000
2010-03-08 0.000 0.000
2009-03-23 0.280 1.596

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

DBB Management

 What is the CEO of Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has no CEO, or we have no data on them.
Management Team

Michael Gilligan

TITLE
CFO, Member of the Board of Mngrs & Director of DB Commodity Svcs LLC
AGE
51

Alex Depetris

TITLE
COO, Member of the Board of Mngrs & Director of DB Commodity Svcs LLC
AGE
38

Peter Hubbard

TITLE
Vice President & Portfolio Manager
AGE
37
Board of Directors

Michael Gilligan

TITLE
CFO, Member of the Board of Mngrs & Director of DB Commodity Svcs LLC
AGE
51

Alex Depetris

TITLE
COO, Member of the Board of Mngrs & Director of DB Commodity Svcs LLC
AGE
38
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

DBB News

Simply Wall St News

DBB Company Info

Description

Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund is an exchange traded fund launched by Invesco Ltd. The fund is co-managed by Invesco Capital Management LLC and DB Commodity Services LLC. It invests in the commodity markets. The fund uses futures contracts to invest in base metals, including aluminum, zinc and copper (grade A). It seeks to track the performance of the DBIQ Optimum Yield Industrial Metals Index Excess Return. The fund was formerly known as PowerShares DB Multi-Sector Commodity Trust - PowerShares DB Base Metals Fund. Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund was formed on January 5, 2007 and is domiciled in the United States.

Details
Name: Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund
DBB
Exchange: ARCA
Founded: 2007
$178,186,672
$176,596,000
10,600,040
Website: http://www.invesco.com/portal/site/us/financial-professional/etfs/product-detail?productId=DBB
Address: Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund
60 Wall Street,
New York,
New York, 10005,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ARCA DBB Redeemable Shares NYSE Arca US USD 05. Jan 2007
DUSE P44J Redeemable Shares Dusseldorf Stock Exchange DE EUR 05. Jan 2007
BMV DBB * Redeemable Shares Bolsa Mexicana de Valores MX MXN 05. Jan 2007
Number of employees
Current staff
Staff numbers
0
Invesco DB Multi-Sector Commodity Trust - Invesco DB Base Metals Fund employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/22 23:57
End of day share price update: 2019/03/22 00:00
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.