Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Sprott Physical 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
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Gross profit
98
56.8
-81.6
132
733
-528
124
-29.2
850
8,522
General and administrative
0.11
0.11
0.1
0.11
0.11
0.15
0.13
0.12
0.17
0.16
Net income
91.6
50.2
-87.7
126
723
-550
103
-53.5
821
8,478
Balance sheet
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
2.74
2.5
3.8
2.51
2.62
3.19
16
5.87
9.73
199
Total assets
889
957
875
1,078
2,408
3,601
4,101
4,072
5,230
15,299
Accounts payable
0.36
0.21
0.54
0.47
0.29
0.48
0.14
2.16
2.45
1.04
Total liabilities
0.36
0.21
0.54
0.47
0.29
0.48
9.74
2.16
2.45
190
Retained earnings
-621
-570
-653
-522
201
-348
-245
-267
559
9,037
Total equity
889
957
875
1,077
2,408
3,600
4,091
4,070
5,227
15,109
Total liabilities and equity
889
957
875
1,078
2,408
3,601
4,101
4,072
5,230
15,299
Cash flow statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
91.6
50.2
-87.7
126
723
-550
103
-53.5
821
8,478
Cash from operations
-6.59
-6.77
-5.62
-6.38
-10.4
-21.5
-10.8
-31.4
-27.7
145
Cash from investing
-109
-11.8
-6.33
-77.9
-597
-1,720
-364
-150
-325
-1,359
Stock issued
122
18.8
13.5
83.7
615
1,756
391
175
359
1,409
Share buybacks
-0.01
-0.15
-0.01
-0.03
-0.02
-0.01
-0.46
-2.93
-0.5
-0.12
Cash from financing
118
18.4
13.3
83
608
1,742
388
171
357
1,403
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $21.01 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
82.6%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Gross profit growth, 1y
902.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
310.0%
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
63.3%
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
932.4%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
334.7%
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
63.6%
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
192.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
55.1%
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
44.7%
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
1.2%
Total liabilities / total assets.
Valuation
Metric
Value
How it is calculated
Market cap
$12.91B
Share price x shares outstanding.
Enterprise value
$12.71B
Market cap + total debt - cash - short-term investments.
P/E
1.52x
Market cap / net income. Only when net income is positive.
P/OCF
88.9x
Market cap / cash from operations, when positive.
Earnings yield
65.7%
Net income / market cap (the inverse of P/E).
Shareholder yield
0.0%
(Dividends paid + share buybacks) / market cap.
Was Sprott Physical Silver Trust profitable in fiscal 2025?
Yes. Net income was $8.48B, 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.