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abrdn Physical Palladium Shares ETF Financials

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

This page shows abrdn Physical Palladium Shares ETF (PALL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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 PALL FY2025

With almost no balance-sheet leverage, this ETF’s reported results mainly mirror asset-value swings and fund size.

From FY2023 through FY2025, ROA and ROE stayed nearly identical while liabilities remained tiny, reaching just $495K against $1.04B of assets in FY2025. That pairing means the shift to $321.9M of net income is best read as a revaluation gain on a much larger asset base, not as an operating turnaround created by margin expansion or debt-fueled leverage.

The fund is almost entirely equity-funded: liabilities were well under 0.1% of assets in FY2025, so reported returns are shaped far more by movements in the underlying holdings than by financing structure. With so little leverage, gains and losses should flow more directly into book value than they would in a debt-dependent vehicle.

Scale changed almost as much as performance: assets climbed from $354.2M to $1.04B between FY2024 and FY2025 while shares outstanding also rose sharply. That makes share issuance and asset growth part of the business mechanic, because aggregate profit can expand faster than per-share economics when the fund itself becomes much larger.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score pending refresh

We are recalculating abrdn Physical Palladium Shares 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.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
$321.9M
YoY+575.9%
5Y CAGR+39.7%

abrdn Physical Palladium Shares ETF reported $321.9M in net income in fiscal year 2025. This represents an increase of 575.9% from the prior year.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
N/A
Dividends Per Share
N/A
Shares Outstanding
7M
YoY+70.7%
5Y CAGR+35.0%
10Y CAGR+7.7%

abrdn Physical Palladium Shares ETF had 7M shares outstanding in fiscal year 2025. This represents an increase of 70.7% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
31.1%
YoY+50.2pp
5Y CAGR+14.1pp
10Y CAGR+89.1pp

abrdn Physical Palladium Shares ETF's ROE was 31.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 50.2 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

PALL Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
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 -$77.2M N/A $47.3M-22.8% $61.3M+104.2% $30.0M N/A $9.9M+188.5% -$11.2M
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

PALL Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $790.1M-23.7% $1.0B+66.4% $622.4M+20.7% $515.5M+39.7% $369.0M+4.2% $354.2M+29.8% $273.0M-3.9% $284.1M
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents N/A N/A N/A N/A N/A N/A N/A N/A
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 $447K-9.9% $496K+72.2% $288K+18.5% $243K+38.9% $175K-5.4% $185K+32.1% $140K-4.8% $147K
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 $789.6M-23.7% $1.0B+66.4% $622.1M+20.7% $515.3M+39.7% $368.9M+4.2% $354.1M+29.8% $272.9M-3.9% $284.0M
Retained Earnings N/A N/A N/A N/A N/A N/A N/A N/A

PALL Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
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 -9.8% N/A 7.6%-4.3pp 11.9%+3.8pp 8.1% N/A 3.6%+7.6pp -4.0%
Return on Assets -9.8% N/A 7.6%-4.3pp 11.9%+3.8pp 8.1% N/A 3.6%+7.6pp -4.0%
Current Ratio N/A N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 0.000.0 0.000.0 0.000.0 0.000.0 0.000.0 0.000.0 0.000.0 0.00
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Frequently Asked Questions

Yes, abrdn Physical Palladium Shares ETF (PALL) reported a net income of $321.9M in fiscal year 2025.

abrdn Physical Palladium Shares ETF (PALL) has a return on equity of 31.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

abrdn Physical Palladium Shares ETF (PALL) had $1.0B in total assets as of fiscal year 2025, including both current and long-term assets.

abrdn Physical Palladium Shares ETF (PALL) had 7M shares outstanding as of fiscal year 2025.

abrdn Physical Palladium Shares ETF (PALL) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

abrdn Physical Palladium Shares ETF (PALL) had a return on assets of 31.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

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