Sprott Physical Gold Trust (PHYS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 40-F for FY2025, filed Mar 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PHYS SEC filings page.
This page shows Sprott Physical Gold Trust (PHYS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Financial Health Signals
Sprott Physical Gold Trust does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Sprott Physical Gold Trust passes 2 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Sprott Physical Gold Trust used $0.01 of operating cash (-$48.2M OCF vs $5.9B net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Sprott Physical Gold Trust held $26.9M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
PHYS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
PHYS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2540-F | Q4'2440-F | Q4'2310-K | Q4'2210-K | Q4'2110-K | Q4'2010-K | Q4'1910-K | Q4'1810-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $16.0B+85.6% | $8.6B+31.8% | $6.5B+13.7% | $5.7B+14.7% | $5.0B+2.3% | $4.9B+98.7% | $2.5B+21.6% | $2.0B-10.4% |
| Cash & Equivalents | $26.9M+201.6% | $8.9M-65.0% | $25.5M+8568.0% | $294K-95.8% | $7.0M+58.5% | $4.4M-10.6% | $4.9M+60.8% | $3.1M+135.1% |
| Total Liabilities | $3.3M+9.0% | $3.0M+2307.1% | $126K-12.5% | $144K+260.0% | $40K-78.5% | $186K-56.2% | $425K-27.4% | $585K+93.1% |
| Total Equity | $16.0B+85.6% | $8.6B+31.8% | $6.5B+13.7% | $5.7B+14.7% | $5.0B+2.4% | $4.9B+98.7% | $2.5B+21.6% | $2.0B-10.4% |
| Retained Earnings | $8.7B+198.1% | $2.9B+129.4% | $1.3B+108.9% | $607.0M-12.0% | $689.5M-23.3% | $898.6M+493.4% | $151.4M+173.7% | -$205.4M-39.8% |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
PHYS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
PHYS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Current Ratio, Asset Turnover, FCF Margin.
Where Sprott Physical Gold Trust Ranks
Frequently Asked Questions
Is Sprott Physical Gold Trust profitable?
Yes, Sprott Physical Gold Trust (PHYS) reported a net income of $5.9B in fiscal year 2025.
What is Sprott Physical Gold Trust's return on equity (ROE)?
Sprott Physical Gold Trust (PHYS) has a return on equity of 37.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sprott Physical Gold Trust's operating cash flow?
Sprott Physical Gold Trust (PHYS) recorded an outflow of $48.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Sprott Physical Gold Trust's total assets?
Sprott Physical Gold Trust (PHYS) had $16.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Sprott Physical Gold Trust's debt-to-equity ratio?
Sprott Physical Gold Trust (PHYS) 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.
What is Sprott Physical Gold Trust's return on assets (ROA)?
Sprott Physical Gold Trust (PHYS) had a return on assets of 37.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sprott Physical Gold Trust's P/E ratio?
Sprott Physical Gold Trust (PHYS) trades at 2.6x earnings, its market capitalization divided by net income of $5.9B net income, FY2025. The market capitalization is $15.3B as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sprott Physical Gold Trust's price-to-sales ratio?
Sprott Physical Gold Trust (PHYS) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $15.3B as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sprott Physical Gold Trust's Piotroski F-Score?
Sprott Physical Gold Trust (PHYS) has a Piotroski F-Score of 2 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sprott Physical Gold Trust's earnings high quality?
For every $1 of reported earnings, Sprott Physical Gold Trust (PHYS) used $0.01 of operating cash (-$48.2M OCF vs $5.9B net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.