Franklin Responsibly Sourced Gold ETF Financials

FGDL

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE March

This page shows Franklin Responsibly Sourced Gold ETF (FGDL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FGDL FY2025 2026-06-29

FGDL's reported economics come mainly from balance-sheet value changes, not from a cash-producing operating business.

From FY2024 to FY2025, net income rose from $6.1M to $34.6M. With operating cash flow fixed at $0 and revenue unreported in both periods, the stronger ROE looks less like expanding operations and more like gains being recognized through the balance sheet, where equity absorbs asset-value changes directly.

Assets roughly tripled to $187.0M by FY2025 while total liabilities reached $50.4M. Because debt-to-equity stayed close to 0.4x, the larger footprint did not rely on a meaningfully different financing mix; assets and claims scaled together rather than leverage doing the heavy lifting.

A year-end cash balance of $0 alongside return on assets of 18.5% shows why conventional operating-company instincts can mislead here. Reported performance is showing up in equity returns, not in cash accumulation or revenue margins, so balance-sheet movement explains more than cash-conversion analysis does.

Financial Health Signals

Financial health score pending refresh

We are recalculating Franklin Responsibly Sourced Gold ETF's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Earnings Quality Low Quality

0.00x

For every $1 of reported earnings, Franklin Responsibly Sourced Gold ETF generates $0.00 in operating cash flow ($0 OCF vs $132.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$132.1M

YoY+281.9%

Franklin Responsibly Sourced Gold ETF reported $132.1M in net income in fiscal year 2026. This represents an increase of 281.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

Franklin Responsibly Sourced Gold ETF held $0 in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share

N/A

Shares Outstanding

Franklin Responsibly Sourced Gold ETF had 8M shares outstanding in fiscal year 2026.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

45.1%

YoY+19.7pp

Franklin Responsibly Sourced Gold ETF's ROE was 45.1% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 19.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

FGDL Income Statement

Metric	FY26	FY25	FY24
Revenue	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A
Net Income	$132.1M+281.9%	$34.6M+464.7%	$6.1M
EPS (Diluted)	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	$48.2M+16.1%	$41.5M+314.6%	$10.0M	N/A	-$1.9M-121.2%	$9.0M+180.3%	$3.2M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FGDL Balance Sheet

Metric	FY26	FY25	FY24
Total Assets	$475.7M+154.4%	$187.0M+201.0%	$62.1M
Current Assets	N/A	N/A	N/A
Cash & Equivalents	$0	$0	$0
Inventory	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A
Total Liabilities	$182.6M+262.1%	$50.4M+218.7%	$15.8M
Current Liabilities	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A
Total Equity	$293.1M+114.7%	$136.5M+195.0%	$46.3M
Retained Earnings	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$475.7M+2.3%	$464.9M+23.2%	$377.3M+65.5%	$227.9M+21.9%	$187.0M+73.1%	$108.0M+25.6%	$86.0M+25.6%	$68.5M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$182.6M+21.6%	$150.1M+47.3%	$101.9M+68.7%	$60.4M+19.9%	$50.4M+93.0%	$26.1M-6.8%	$28.0M+47.3%	$19.0M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$293.1M-6.9%	$314.8M+14.3%	$275.3M+64.4%	$167.5M+22.7%	$136.5M+66.8%	$81.9M+41.2%	$58.0M+17.3%	$49.4M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FGDL Cash Flow Statement

Metric	FY26	FY25	FY24
Operating Cash Flow	$0	$0	$0
Capital Expenditures	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	$0	$0	$0	$0	$0	$0	$0	$0
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FGDL Financial Ratios

Metric	FY26	FY25	FY24
Gross Margin	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A
Return on Equity	45.1%+19.7pp	25.3%+12.1pp	13.2%
Return on Assets	27.8%+9.3pp	18.5%+8.6pp	9.9%
Current Ratio	N/A	N/A	N/A
Debt-to-Equity	0.62+0.3	0.37+0.0	0.34
FCF Margin	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	15.3%+0.2pp	15.1%+9.1pp	6.0%	N/A	-2.3%-17.8pp	15.5%+9.0pp	6.5%
Return on Assets	N/A	10.4%-0.6pp	11.0%+6.6pp	4.4%	N/A	-1.8%-12.2pp	10.5%+5.8pp	4.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.62+0.1	0.48+0.1	0.370.0	0.360.0	0.37+0.1	0.32-0.2	0.48+0.1	0.38
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Franklin Responsibly Sourced Gold ETF profitable?

Yes, Franklin Responsibly Sourced Gold ETF (FGDL) reported a net income of $132.1M in fiscal year 2026.

What is Franklin Responsibly Sourced Gold ETF's return on equity (ROE)?

Franklin Responsibly Sourced Gold ETF (FGDL) has a return on equity of 45.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Franklin Responsibly Sourced Gold ETF's operating cash flow?

Franklin Responsibly Sourced Gold ETF (FGDL) generated $0 in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Franklin Responsibly Sourced Gold ETF's total assets?

Franklin Responsibly Sourced Gold ETF (FGDL) had $475.7M in total assets as of fiscal year 2026, including both current and long-term assets.

How many shares does Franklin Responsibly Sourced Gold ETF have outstanding?

Franklin Responsibly Sourced Gold ETF (FGDL) had 8M shares outstanding as of fiscal year 2026.

What is Franklin Responsibly Sourced Gold ETF's debt-to-equity ratio?

Franklin Responsibly Sourced Gold ETF (FGDL) had a debt-to-equity ratio of 0.62 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Franklin Responsibly Sourced Gold ETF's return on assets (ROA)?

Franklin Responsibly Sourced Gold ETF (FGDL) had a return on assets of 27.8% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

Are Franklin Responsibly Sourced Gold ETF's earnings high quality?

Franklin Responsibly Sourced Gold ETF (FGDL) has an earnings quality ratio of 0.00x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.