Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Sprott Physical Gold & Silver Trust 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
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Gross profit
-235
439
1,027
-290
23.7
329
1,040
4,389
General and administrative
0.16
0.19
0.26
0.17
0.14
0.15
0.16
0.14
Income tax
0.02
Net income
-257
419
1,008
-311
4.73
309
1,017
4,359
Balance sheet
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.18
1.25
1.4
0.68
3.4
6.9
4.42
18.8
Total assets
2,808
2,961
4,423
4,094
4,000
4,232
5,015
9,068
Accounts payable
1.52
1.16
0.13
0.06
0.78
1.79
2.41
2.52
Total liabilities
1.52
1.16
0.13
0.06
1.19
1.79
2.41
2.52
Retained earnings
-214
227
1,235
914
896
1,182
2,113
6,289
Total equity
2,807
2,960
4,423
4,094
3,998
4,230
5,013
9,065
Total liabilities and equity
2,808
2,961
4,423
4,094
4,000
4,232
5,015
9,068
Cash flow statement
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-257
419
1,008
-311
4.73
309
1,017
4,359
Cash from operations
-20.5
-20
-19.9
-21.2
-17.8
-20.1
-22.2
-29.9
Cash from investing
14.4
23.3
-435
5.16
10.8
25
25.5
35.3
Stock issued
459
18.6
14.6
15.4
Share buybacks
-0.9
-2.16
-0.53
-3.2
-4.75
-1.44
-5.79
-6.47
Cash from financing
-0.9
-2.16
455
15.4
9.78
-1.44
-5.79
8.94
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $43.51 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
61.9%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Gross profit growth, 1y
322.0%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
469.8%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
33.7%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
328.6%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
873.3%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y
34.0%
Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
80.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
31.4%
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
15.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Liabilities / assets
0.0%
Total liabilities / total assets.
Valuation
Metric
Value
How it is calculated
Market cap
$8.31B
Share price x shares outstanding.
Enterprise value
$8.29B
Market cap + total debt - cash - short-term investments.
P/E
1.91x
Market cap / net income. Only when net income is positive.
Earnings yield
52.5%
Net income / market cap (the inverse of P/E).
Shareholder yield
0.1%
(Dividends paid + share buybacks) / market cap.
Was Sprott Physical Gold & Silver Trust profitable in fiscal 2025?
Yes. Net income was $4.36B, a net margin of -.
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.