MeritValue

Invesco CurrencyShares Swiss Franc Trust

FXFdata completeness 63%17 fiscal years on file

Data notes: no data for concept 'capex'; no data for concept 'totalDebt'; no data for concept 'stockholdersEquity'; no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'depreciationAmortization'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'pretaxIncome'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$01$02$318,7833$458,6444$04
Net income−$3.12M5−$2.26M6−$453,2457−$158,2118−$1.69M8
Operating cash flow−$3.15M9−$2.43M10−$544,80611−$101,83412−$1.54M12
Capital expenditure—————
Free cash flow (derived)—————
Total debt—————
Cash & equivalents$247.4M13$217M14$190.3M15$142.2M15$396.6M15
Diluted shares2.7M2.5M1.9M1.5M3.2M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
—
your share of equity
Profit it earned you last year
−$5.28
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares of this business that earned you −$5.28 last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
+18% shares · 5y

Share count is up 18% over 5 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.5.0
DCF · Growth Exit 10Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001564590-23-002368 (Revenues)
  2. 10-K · period ending 2022-12-31 · accession 0000950170-24-019055 (Revenues)
  3. 10-K · period ending 2023-12-31 · accession 0000950170-25-027267 (Revenues)
  4. 10-K · period ending 2024-12-31 · accession 0001193125-26-083569 (Revenues)
  5. 10-K · period ending 2021-12-31 · accession 0001564590-23-002368 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0000950170-24-019055 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0000950170-25-027267 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001193125-26-083569 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001564590-23-002368 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0000950170-24-019055 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0000950170-25-027267 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001193125-26-083569 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0000950170-24-019055 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  14. 10-K · period ending 2022-12-31 · accession 0000950170-25-027267 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  15. 10-K · period ending 2023-12-31 · accession 0001193125-26-083569 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)