EPS (Diluted)Not reportedfor the trailing 12 months
Operating Cash Flow$0n/m YoY
Source SEC Filings (10-K/10-Q)Latest period Q2 FY2026, ended Jun 30, 2026ReportedCurrency USDFYE December
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026.
Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SLV SEC filings page.
This page shows iShares Silver Trust (SLV) financial statements, including the
income statement, balance sheet, cash flow statement, and key financial ratios.
View 15 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 AISLVFY2025
The reported statements describe an investment vehicle where net results swing sharply while operating expenses remain consistently negative.
The disconnect between net income and operating income widened: FY2025 net income reached $21.3B, yet operating income was a $95.5M loss. That combination indicates reported profitability is driven primarily by changes in the vehicle’s underlying holdings or valuation, rather than recurring operating earnings.
Net income changed from a $129.0M loss in FY2023 to $2.17B of income in FY2024, then increased another 883.9% in FY2025; this volatility is unlike a conventional operating company’s sales-and-cost earnings pattern. Operating income remained negative in both later years, reaching a $95.5M loss in FY2025.
Reported operating cash flow was $0 in every period shown, including FY2024 and FY2025. Combined with the absence of revenue, assets, and liabilities in the supplied data, the statements support analyzing SLV as an investment vehicle rather than through operating margins, returns, or conventional cash conversion.
Financial Health Signals
Financial health score not available
We do not publish a peer-relative financial health score for iShares Silver Trust, because the score only covers companies whose filings and listing give us what it needs to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.
Earnings QualityLow Quality
0.00x
For every $1 of reported earnings, iShares Silver Trust generates $0.00 in operating cash flow ($0 OCF vs $21.3B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
iShares Silver Trust reported a net loss of $6.8B in Q2 2026. This represents a decrease of 846.5% from the same quarter a year earlier. Against the prior quarter it is down 1457.6%.
Revenue
Not reported for Q2 2026.
EBITDA
Not reported for Q2 2026.
EPS (Diluted)
Not reported for Q2 2026.
Cash & Balance Sheet
Shares Outstanding
538M
YoY+1.0%
QoQ+0.8%
5Y CAGR-2.0%
10Y CAGR+4.4%
iShares Silver Trust had 538M shares outstanding in Q2 2026. This represents an increase of 1.0% from the same quarter a year earlier. Against the prior quarter it is up 0.8%.
Free Cash Flow
Not reported for Q2 2026.
Cash & Debt
Not reported for Q2 2026.
Dividends Per Share
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
SLV 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: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, EBITDA, Interest Expense, Income Tax, EPS (Diluted), Diluted Shares (Avg).
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, EBITDA, Interest Expense, Income Tax, EPS (Diluted), Diluted Shares (Avg).
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
SLV 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.
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, Retained Earnings.
Not reported in any period shown, so not listed: Total Assets, Current Assets, Cash & Equivalents, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Total Liabilities, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Total Equity, Retained Earnings.
SLV 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: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
SLV 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, Current Ratio, Debt-to-Equity, FCF Margin.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Current Ratio, Debt-to-Equity, Liabilities-to-Equity, Asset Turnover, FCF Margin.
Yes, iShares Silver Trust (SLV) reported a net income of $11.9B over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $21.3B.
iShares Silver Trust (SLV) generated $0 in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
iShares Silver Trust (SLV) had 587M shares outstanding as of fiscal year 2025.
iShares Silver Trust (SLV) 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.
