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abrdn Physical Gold Shares ETF Financials

SGOL
Source SEC Filings (10-K/10-Q) Updated May 8, 2026 Currency USD FYE December

This page shows abrdn Physical Gold Shares ETF (SGOL) 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 SGOL FY2025

SGOL’s balance sheet behaves like an almost unlevered asset pool, with reported earnings mainly reflecting changes in asset value.

In the latest year, total assets nearly doubled to $7.3B while shares outstanding rose only 18.5%; that means the scale jump came mostly from a higher asset value per share, not just a larger share base. At the same time, liabilities were only $1.1M, so the $2.7B of net income reads more like asset-value remeasurement accruing almost entirely to equity holders than leverage-amplified operating profit.

Liabilities of $1.1M against $7.3B of assets leave equity almost identical to assets, a balance-sheet posture that operates more like direct asset ownership than borrowed expansion. That is why return on assets and return on equity converge at 36.2% in FY2025: there is almost no leverage layer to separate them.

The swing from a -$17.4M loss in FY2022 to $2.7B of profit in FY2025 is too large to read as normal operating improvement; it shows that reported earnings are valuation-sensitive. Because revenue and cash-flow lines are absent while assets expanded sharply, size matters here mostly through exposure: a larger asset base makes the income statement more responsive to the same market move.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 28 / 100
Financial Profile 28/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of abrdn Physical Gold Shares ETF's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage
100

abrdn Physical Gold Shares ETF carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Returns
69

abrdn Physical Gold Shares ETF earns a strong 36.2% return on equity (ROE), meaning it generates $36 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 69/100. This is up from 18.9% the prior year.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
$2.7B
YoY+273.4%
5Y CAGR+48.8%

abrdn Physical Gold Shares ETF reported $2.7B in net income in fiscal year 2025. This represents an increase of 273.4% 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
179M
YoY+18.5%
5Y CAGR+4.1%

abrdn Physical Gold Shares ETF had 179M shares outstanding in fiscal year 2025. This represents an increase of 18.5% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
36.2%
YoY+17.3pp
5Y CAGR+22.5pp
10Y CAGR+50.4pp

abrdn Physical Gold Shares ETF's ROE was 36.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 17.3 percentage points from the prior year.

Capital Allocation

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

SGOL Income Statement

Metric Q2'26 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 $497.1M N/A $871.9M+241.5% $255.3M-65.4% $737.8M N/A $411.2M+166.6% $154.3M
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

SGOL Balance Sheet

Metric Q2'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $7.9B+7.3% $7.3B+17.0% $6.3B+21.3% $5.2B+7.5% $4.8B+28.0% $3.8B+0.5% $3.7B+18.9% $3.1B
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 $1.1M+8.6% $1.1M-96.0% $26.4M+3596.6% $714K+5.5% $677K+23.5% $548K+6.6% $514K+17.4% $438K
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 $7.3B0.0% $7.3B+17.5% $6.2B+20.8% $5.2B+7.5% $4.8B+28.0% $3.8B+0.5% $3.7B+18.9% $3.1B
Retained Earnings N/A N/A N/A N/A N/A N/A N/A N/A

SGOL Financial Ratios

Metric Q2'26 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 6.8% N/A 14.0%+9.0pp 4.9%-10.4pp 15.3% N/A 11.0%+6.1pp 4.9%
Return on Assets 6.3% N/A 13.9%+9.0pp 4.9%-10.4pp 15.3% N/A 11.0%+6.1pp 4.9%
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 Gold Shares ETF (SGOL) reported a net income of $2.7B in fiscal year 2025.

abrdn Physical Gold Shares ETF (SGOL) has a return on equity of 36.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

abrdn Physical Gold Shares ETF (SGOL) had $7.3B in total assets as of fiscal year 2025, including both current and long-term assets.

abrdn Physical Gold Shares ETF (SGOL) had 179M shares outstanding as of fiscal year 2025.

abrdn Physical Gold Shares ETF (SGOL) 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 Gold Shares ETF (SGOL) had a return on assets of 36.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

abrdn Physical Gold Shares ETF (SGOL) scores 28 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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