(PSLV) Physical Silver - Overview
Sector: Financial Services | Industry: Asset Management | Exchange: NYSE (USA) | Market Cap: 14.884m USD | Total Return: 80.5% in 12m
Avg Turnover: 199M
Warnings
Share dilution 21.7% YoY
Below Avwap Earnings
Tailwinds
No distinct edge detected
Sprott Physical Silver Trust (PSLV) is a closed-end trust managed by Sprott Asset Management LP that provides investors with direct exposure to physical silver bullion. Unlike many exchange-traded products that use derivatives or futures contracts, this trust holds its assets in the form of fully allocated London Good Delivery silver bars stored at the Royal Canadian Mint.
The trust’s business model is designed to track the spot price of silver while offering a redemption feature that allows unitholders to exchange their shares for physical metal, subject to minimum requirements. Silver serves a dual role in the global economy as both a monetary reserve asset and a critical industrial component for solar photovoltaics and electronic applications.
The fund was established in 2010 and is domiciled in Canada, operating within the Financials sector as an asset management vehicle. Investors may find it useful to examine ValueRay for deeper insights into how commodity trusts fit within a broader portfolio. As a large-cap entity, PSLV offers a liquid alternative to holding physical coins or bars, eliminating the personal storage and insurance costs typically associated with precious metal ownership.
- Global silver spot price fluctuations drive net asset value
- Industrial demand from solar and electronics sectors impacts silver supply
- Investor sentiment toward precious metals as an inflation hedge
- Trust premium or discount to net asset value affects liquidity
| Net Income: 8.21b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.50 > 0.02 and ΔFCF/TA 25.45 > 1.0 |
| NWC/Revenue: 25.2k% < 20% (prev 3.76%; Δ 25.2k% < -1%) |
| CFO/TA -0.01 > 3% & CFO -116.4m > Net Income 8.21b |
| Net Debt/EBITDA: error (cannot be calculated) |
| Current Ratio: 86.06 > 1.5 & < 3 |
| Outstanding Shares: last quarter (634.0m) vs 12m ago 21.74% < -2% |
| Gross Margin: 17.09% > 18% (prev 98.20%; Δ -81.11% > 0.5%) |
| Asset Turnover: 0.57% > 50% (prev 24.88%; Δ -24.31% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.99 (Total Current Assets 16.3b - Total Current Liabilities 189.9m) / Total Assets 16.3b |
| B: 0.59 (Retained Earnings 9.63b / Total Assets 16.3b) |
| C: 0.73 (EBIT TTM 8.21b / Avg Total Assets 11.3b) |
| D: 227k (Book Value of Equity 16.3b / Total Liabilities 72.0k) |
| Altman-Z'' = 238k = AAA |
As of June 07, 2026, the stock is trading at USD 21.53 with a total of 17,845,413 shares traded.
Over the past week, the price has changed by -10.59%,
over one month by -8.73%,
over three months by -19.27% and
over the past year by +80.47%.
Physical Silver has no consensus analysts rating.
P/E Trailing = 1.6167
P/S = 1.8465
P/B = 0.9285
Revenue TTM = 64.2m USD
EBIT TTM = 8.21b USD
EBITDA TTM = 8.21b USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 14.9b USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = unknown (Ebit TTM 8.21b / Interest Expense TTM 0.0)
EV/FCF = 1.81x (Enterprise Value 14.9b / FCF TTM 8.21b)
FCF Yield = 55.15% (FCF TTM 8.21b / Enterprise Value 14.9b)
FCF Margin = 12.8k% (FCF TTM 8.21b / Revenue TTM 64.2m)
Net Margin = 12.8k% (Net Income TTM 8.21b / Revenue TTM 64.2m)
Gross Margin = 17.09% ((Revenue TTM 64.2m - Cost of Revenue TTM 53.2m) / Revenue TTM)
Gross Margin QoQ = 68.16% (prev none%)
Tobins Q-Ratio = 0.91 (Enterprise Value 14.9b / Total Assets 16.3b)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 6.49b (EBIT 8.21b * (1 - 21.00%))
Current Ratio = 86.03 (Total Current Assets 16.3b / Total Current Liabilities 190.0m)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 8.21b)
Debt / FCF = unknown (Net Debt none / FCF TTM 8.21b)
Total Stockholder Equity = 11.9b (last 4 quarters mean from totalStockholderEquity)
RoA = 72.56% (Net Income 8.21b / Total Assets 16.3b)
RoE = 68.81% (Net Income TTM 8.21b / Total Stockholder Equity 11.9b)
RoCE = 50.81% (EBIT 8.21b / Capital Employed (Total Assets 16.3b - Current Liab 189.9m))
RoIC = 40.15% (NOPAT 6.49b / Invested Capital 16.2b)
WACC = 9.54% (E(14.9b)/V(14.9b) * Re(9.54%) + (debt-free company))
Discount Rate = 9.54% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 12.38%
[DCF] Terminal Value 74.22% ; FCFF base≈5.55b ; Y1≈6.36b ; Y5≈9.36b
[DCF] Fair Price = 183.1 (EV 116b - Net Debt 0.0 = Equity 116b / Shares 635.8m; r=9.54% [WACC]; 5y FCF grow 15.0% → 2.50% )
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: N/A | # QB: 0