Sprott Physical Silver Trust (PSLV) 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 Nov 5, 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 16, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PSLV SEC filings page.
This page shows Sprott Physical Silver Trust (PSLV) 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 (40-F and 6-K reports).
Financial Health Signals
We do not publish a peer-relative financial health score for Sprott Physical Silver Trust, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Sprott Physical Silver Trust passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 3 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 Silver Trust generates $0.02 in operating cash flow ($145.2M OCF vs $8.5B 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
Earnings & Revenue
Sprott Physical Silver Trust reported $8.5B in net income in fiscal year 2025. This represents an increase of 932.4% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Sprott Physical Silver Trust held $198.9M in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Sprott Physical Silver Trust's ROE was 56.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 40.4 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Sprott Physical Silver Trust spent $124K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 99.4% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
PSLV 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.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Profit | $8.5B+902.8% | $849.8Mn/m | -$29.2M-123.6% | $123.6Mn/m | -$528.0M-172.0% | $733.1M+453.7% | $132.4Mn/m | -$81.6M-243.7% | $56.8M-42.1% | $98.0M |
| Net Income | $8.5B+932.4% | $821.2Mn/m | -$53.5M-151.9% | $103.2Mn/m | -$549.5M-176.0% | $722.8M+473.2% | $126.1Mn/m | -$87.7M-274.7% | $50.2M-45.2% | $91.6M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
PSLV 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 | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.3B+192.5% | $5.2B+28.4% | $4.1B-0.7% | $4.1B+13.9% | $3.6B+49.5% | $2.4B+123.4% | $1.1B+23.1% | $875.5M-8.5% | $957.3M+7.7% | $888.9M |
| Cash & Equivalents | $198.9M+1943.9% | $9.7M+66.0% | $5.9M-63.3% | $16.0M+401.2% | $3.2M+21.7% | $2.6M+4.3% | $2.5M-33.8% | $3.8M+52.2% | $2.5M-8.9% | $2.7M |
| Total Liabilities | $189.9M+7648.5% | $2.5M+13.7% | $2.2M-77.9% | $9.7M+1941.5% | $477K+67.4% | $285K-38.7% | $465K-13.7% | $539K+152.2% | $214K-41.0% | $362K |
| Total Equity | $15.1B+189.0% | $5.2B+28.5% | $4.1B-0.5% | $4.1B+13.6% | $3.6B+49.5% | $2.4B+123.5% | $1.1B+23.1% | $874.9M-8.6% | $957.1M+7.7% | $888.5M |
| Retained Earnings | $9.0B+1516.0% | $559.3Mn/m | -$266.7Mn/m | -$244.8Mn/m | -$348.2M-272.9% | $201.3Mn/m | -$521.6Mn/m | -$652.7Mn/m | -$570.2Mn/m | -$620.5M |
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.
PSLV 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.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $145.2Mn/m | -$27.7Mn/m | -$31.4Mn/m | -$10.8Mn/m | -$21.5Mn/m | -$10.4Mn/m | -$6.4Mn/m | -$5.6Mn/m | -$6.8Mn/m | -$6.6M |
| Investing Cash Flow | -$1.4Bn/m | -$325.1Mn/m | -$149.5Mn/m | -$364.3Mn/m | -$1.7Bn/m | -$597.4Mn/m | -$77.9Mn/m | -$6.3Mn/m | -$11.8Mn/m | -$109.3M |
| Financing Cash Flow | $1.4B+293.5% | $356.7M+108.8% | $170.8M-56.0% | $387.9M-77.7% | $1.7B+186.5% | $607.9M+632.1% | $83.0M+526.4% | $13.3M-27.8% | $18.4M-84.5% | $118.3M |
| Share Buybacks | $124K-99.4% | $20.5M-85.5% | $141.8M+30939.4% | $457K+5612.5% | $8K-95.5% | $176K-97.4% | $6.9M-11.6% | $7.8M+4963.0% | $153K+1627.7% | $9K |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid.
PSLV 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.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity | 56.1%+40.4pp | 15.7%+17.0pp | -1.3%-3.8pp | 2.5%+17.8pp | -15.3%-45.3pp | 30.0%+18.3pp | 11.7%+21.7pp | -10.0%-15.3pp | 5.2%-5.1pp | 10.3% |
| Return on Assets | 55.4%+39.7pp | 15.7%+17.0pp | -1.3%-3.8pp | 2.5%+17.8pp | -15.3%-45.3pp | 30.0%+18.3pp | 11.7%+21.7pp | -10.0%-15.3pp | 5.2%-5.1pp | 10.3% |
| Liabilities-to-Equity | 0.010.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.00 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Debt-to-Equity, Asset Turnover, FCF Margin.
Where Sprott Physical Silver Trust Ranks
Frequently Asked Questions
Yes, Sprott Physical Silver Trust (PSLV) reported a net income of $8.5B in fiscal year 2025.
Sprott Physical Silver Trust (PSLV) has a return on equity of 56.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Sprott Physical Silver Trust (PSLV) generated $145.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Sprott Physical Silver Trust (PSLV) had $15.3B in total assets as of fiscal year 2025, including both current and long-term assets.
Sprott Physical Silver Trust (PSLV) had a liabilities-to-equity ratio of 0.01 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
Sprott Physical Silver Trust (PSLV) had a return on assets of 55.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Sprott Physical Silver Trust (PSLV) trades at 1.3x earnings, its market capitalization divided by $8.5B net income, FY2025. The market capitalization is $10.7B as of Nov 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Sprott Physical Silver Trust (PSLV) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $10.7B as of Nov 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Sprott Physical Silver Trust (PSLV) has a Piotroski F-Score of 3 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.
Sprott Physical Silver Trust (PSLV) has an earnings quality ratio of 0.02x, 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.