JJP Financials: iPath Series B Bloomberg Precious Metals Subindex Total Return ETN AI Analysis

Breakdown	TTM	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Revenue	1,183	1,183	994	924	960	760
Revenue Growth (YoY)	19%	19%	8%	-4%	26%	59%
Cost of Revenue	729	711	583	521	543	431
Gross Profit	454	472	411	402	416	329
Selling, General & Admin	251	270	258	245	275	335
Research & Development	--	--	--	--	--	--
Operating Expenses	312	331	318	306	333	383
Other Non Operating Income (Expenses)	14	14	3	1	-7	0
Pretax Income	136	136	74	75	64	-61
Income Tax Expense	34	34	28	29	24	-2
Net Income	102	102	45	45	40	-58
Net Income Growth	127%	127%	0%	13%	-169%	-271%
Shares Outstanding (Diluted)	92.81	93.02	92.3	96.17	102.6	97.5
Shares Change (YoY)	0%	1%	-4%	-6%	5%	0%
EPS (Diluted)	1.09	1.09	0.49	0.47	0.39	-0.6
EPS Growth	121%	121%	5%	22%	-165%	-271%
Free Cash Flow	73	73	99	112	103	-92
Free Cash Flow Per Share	--	--	--	--	--	--
Gross Margin	38.37%	39.89%	41.34%	43.5%	43.33%	43.28%
Operating Margin	11.91%	11.91%	9.25%	10.38%	8.64%	-7.1%
Profit Margin	8.62%	8.62%	4.52%	4.87%	4.16%	-7.63%
Free Cash Flow Margin	6.17%	6.17%	9.95%	12.12%	10.72%	-12.1%
EBITDA	202	202	152	156	140	-7
EBITDA Margin	17.07%	17.07%	15.29%	16.88%	14.58%	-0.92%
D&A For EBITDA	61	61	60	60	57	47
EBIT	141	141	92	96	83	-54
EBIT Margin	11.91%	11.91%	9.25%	10.38%	8.64%	-7.1%
Effective Tax Rate	25%	25%	37.83%	38.66%	37.5%	3.27%

iPath Series B Bloomberg Precious Metals Subindex Total Return ETN (JJP) Financial