ProShares UltraShort Silver Financials
This page shows ProShares UltraShort Silver (ZSL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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
ProShares UltraShort Silver passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, ProShares UltraShort Silver generates $-5.30 in operating cash flow ($208.8M OCF vs -$39.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
ProShares UltraShort Silver reported -$39.4M in net income in fiscal year 2024. This represents an increase of 98.4% from the prior year.
ProShares UltraShort Silver held $2.6B in cash against $0 in long-term debt as of fiscal year 2024.
ProShares UltraShort Silver had 98M shares outstanding in fiscal year 2024. This represents an increase of 18.7% from the prior year.
ProShares UltraShort Silver spent $8.8B on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 4.4% from the prior year.
ZSL Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | $76.1M-55.5% | $171.2M-60.0% | $427.6M+3763.4% | -$11.7M-104.9% | $240.1M+203.7% | -$231.6M | N/A | -$12.0M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ZSL Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.6B+21.4% | $3.8B+1.8% | $3.7B+18.6% | $3.2B-4.7% | $3.3B+5.5% | $3.1B-6.9% | $3.4B-0.9% | $3.4B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $2.2B-35.2% | $3.3B+59.2% | $2.1B-18.7% | $2.6B+66.4% | $1.5B-16.1% | $1.8B-29.0% | $2.6B+34.0% | $1.9B |
| 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 | $101.1M-35.1% | $155.6M-5.5% | $164.7M+29.9% | $126.8M-32.3% | $187.3M+294.0% | $47.5M-45.6% | $87.4M-12.6% | $100.0M |
| 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 | $4.5B+23.8% | $3.7B+2.2% | $3.6B+18.1% | $3.0B-3.1% | $3.1B+1.1% | $3.1B-5.9% | $3.3B-0.5% | $3.3B |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ZSL Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.0B-236.9% | $1.5B+308.0% | -$718.9M-156.4% | $1.3B+1032.4% | -$136.6M+81.0% | -$721.0M-1265.7% | -$52.8M-346.5% | $21.4M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $874.4M+441.2% | -$256.3M-208.6% | $235.9M+149.8% | -$473.4M-195.7% | -$160.1M-412.6% | -$31.2M-104.4% | $712.0M+259.2% | -$447.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $2.2B-47.4% | $4.1B+29.7% | $3.2B+14.1% | $2.8B+55.4% | $1.8B+0.5% | $1.8B-4.2% | $1.9B-17.2% | $2.3B |
ZSL Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | 1.7%-3.0pp | 4.7%-7.3pp | 12.0% | N/A | 7.7% | N/A | N/A | N/A |
| Return on Assets | 1.7%-2.8pp | 4.5%-6.9pp | 11.4%+11.8pp | -0.3%-7.6pp | 7.3%+14.6pp | -7.4% | N/A | -0.4% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.02-0.0 | 0.040.0 | 0.050.0 | 0.04-0.0 | 0.06+0.0 | 0.02-0.0 | 0.030.0 | 0.03 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is ProShares UltraShort Silver profitable?
No, ProShares UltraShort Silver (ZSL) reported a net income of -$39.4M in fiscal year 2024.
What is ProShares UltraShort Silver's operating cash flow?
ProShares UltraShort Silver (ZSL) generated $208.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are ProShares UltraShort Silver's total assets?
ProShares UltraShort Silver (ZSL) had $3.2B in total assets as of fiscal year 2024, including both current and long-term assets.
Does ProShares UltraShort Silver buy back shares?
Yes, ProShares UltraShort Silver (ZSL) spent $8.8B on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does ProShares UltraShort Silver have outstanding?
ProShares UltraShort Silver (ZSL) had 98M shares outstanding as of fiscal year 2024.
What is ProShares UltraShort Silver's debt-to-equity ratio?
ProShares UltraShort Silver (ZSL) had a debt-to-equity ratio of 0.04 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is ProShares UltraShort Silver's return on assets (ROA)?
ProShares UltraShort Silver (ZSL) had a return on assets of -1.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is ProShares UltraShort Silver's Piotroski F-Score?
ProShares UltraShort Silver (ZSL) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are ProShares UltraShort Silver's earnings high quality?
ProShares UltraShort Silver (ZSL) has an earnings quality ratio of -5.30x, considered mixed quality. 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.