Sprott Physical Platinum and Palladium Trust (SPPP) 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 11, 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 SPPP SEC filings page.
This page shows Sprott Physical Platinum and Palladium Trust (SPPP) 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 Platinum and Palladium 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 Platinum and Palladium 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 Platinum and Palladium Trust generates $0.02 in operating cash flow ($5.5M OCF vs $290.3M 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
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Sprott Physical Platinum and Palladium Trust held $12.0M 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.
SPPP 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).
SPPP 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 | $781.2M+365.9% | $167.7M+43.9% | $116.5M-15.8% | $138.3M+4.4% | $132.5M+4.3% | $127.1M+7.6% | $118.1M+16.0% | $101.7M-18.9% |
| Cash & Equivalents | $12.0M+3772.0% | $311K-47.6% | $594K+58.4% | $375K-58.0% | $892K-23.2% | $1.2M+331.6% | $269K+183.2% | $95K+565.2% |
| Total Liabilities | $8.8M+2677.6% | $317K+49.5% | $212K+259.3% | $59K-90.8% | $638K+165.8% | $240K-30.6% | $346K+57.6% | $220K+1.1% |
| Total Equity | $772.4M+361.5% | $167.4M+43.9% | $116.3M-15.9% | $138.3M+4.9% | $131.8M+4.0% | $126.8M+7.7% | $117.7M+15.9% | $101.5M-19.0% |
| Retained Earnings | $257.5M+884.6% | -$32.8M-245.8% | -$9.5M-135.7% | $26.6M-25.6% | $35.7M-47.0% | $67.3M+25.9% | $53.5M+194.3% | $18.2M+107.9% |
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.
SPPP 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.
SPPP 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 Platinum and Palladium Trust Ranks
Frequently Asked Questions
Is Sprott Physical Platinum and Palladium Trust profitable?
Yes, Sprott Physical Platinum and Palladium Trust (SPPP) reported a net income of $290.3M in fiscal year 2025.
What is Sprott Physical Platinum and Palladium Trust's return on equity (ROE)?
Sprott Physical Platinum and Palladium Trust (SPPP) has a return on equity of 37.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sprott Physical Platinum and Palladium Trust's operating cash flow?
Sprott Physical Platinum and Palladium Trust (SPPP) generated $5.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sprott Physical Platinum and Palladium Trust's total assets?
Sprott Physical Platinum and Palladium Trust (SPPP) had $781.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Sprott Physical Platinum and Palladium Trust's debt-to-equity ratio?
Sprott Physical Platinum and Palladium Trust (SPPP) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sprott Physical Platinum and Palladium Trust's return on assets (ROA)?
Sprott Physical Platinum and Palladium Trust (SPPP) 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 Platinum and Palladium Trust's P/E ratio?
Sprott Physical Platinum and Palladium Trust (SPPP) trades at 2.0x earnings, its market capitalization divided by net income of $290.3M net income, FY2025. The market capitalization is $592.2M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sprott Physical Platinum and Palladium Trust's price-to-sales ratio?
Sprott Physical Platinum and Palladium Trust (SPPP) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $592.2M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sprott Physical Platinum and Palladium Trust's Piotroski F-Score?
Sprott Physical Platinum and Palladium Trust (SPPP) 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.
Are Sprott Physical Platinum and Palladium Trust's earnings high quality?
Sprott Physical Platinum and Palladium Trust (SPPP) 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.