(PHYS) Physical Gold Trust - Overview
Sector: Financial Services | Industry: Asset Management | Exchange: NYSE ARCA (USA) | Market Cap: 16.160m USD | Total Return: 33% in 12m
Avg Turnover: 81.4M
Rev. Trend: 75.7%
Warnings
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Sprott Physical Gold Trust (PHYS) is a Canadian-domiciled closed-end trust managed by Sprott Asset Management LP. Launched in 2009, the fund provides exposure to the precious metals market by investing exclusively in physical gold bullion held in London Good Delivery bar form. Unlike many synthetic exchange-traded products, this trust holds its assets in a secure third-party depository, typically the Royal Canadian Mint.
The business model of a physical commodity trust eliminates the credit risk associated with paper gold derivatives and certificates. In the asset management sector, such vehicles are designed to track the spot price of the underlying metal while offering liquidity through exchange trading. Investors may evaluate additional valuation metrics and historical performance data on ValueRay to further their analysis. Physical gold serves as a traditional hedge against currency devaluation and systemic financial volatility.
- Global gold spot price fluctuations dictate net asset value performance
- Investor sentiment toward safe haven assets drives secondary market premium volatility
- Management fees and storage costs impact long term shareholder net returns
- Canadian tax advantages attract institutional capital seeking physical bullion exposure
- US Dollar strength inversely correlates with trust share price movements
| Net Income: 5.61b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.32 > 0.02 and ΔFCF/TA 5.77 > 1.0 |
| NWC/Revenue: 1.63k% < 20% (prev 2.87%; Δ 1.63k% < -1%) |
| CFO/TA -0.00 > 3% & CFO -17.0m > Net Income 5.61b |
| Net Debt/EBITDA: error (cannot be calculated) |
| Current Ratio: error (cannot be calculated; needs correct Total Current Assets and Liabilities) |
| Outstanding Shares: last quarter (481.8m) vs 12m ago 13.54% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 7.54% > 50% (prev 26.74%; Δ -19.20% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM) |
| A: 1.0 (Total Current Assets 17.3b - Total Current Liabilities 0.0) / Total Assets 17.3b |
| B: 0.55 (Retained Earnings 9.59b / Total Assets 17.3b) |
| C: 0.40 (EBIT TTM 5.61b / Avg Total Assets 14.0b) |
| D: 2.75k (Book Value of Equity 17.3b / Total Liabilities 6.29m) |
| Altman-Z'' = 2.90k = AAA |
As of May 24, 2026, the stock is trading at USD 34.37 with a total of 1,652,954 shares traded.
Over the past week, the price has changed by -0.90%,
over one month by -4.16%,
over three months by -14.53% and
over the past year by +32.98%.
Physical Gold Trust has no consensus analysts rating.
P/S = 2.8765
P/B = 0.9354
Revenue TTM = 1.06b USD
EBIT TTM = 5.61b USD
EBITDA TTM = 5.61b USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 16.2b USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = unknown (Ebit TTM 5.61b / Interest Expense TTM 0.0)
EV/FCF = 2.88x (Enterprise Value 16.2b / FCF TTM 5.61b)
FCF Yield = 34.72% (FCF TTM 5.61b / Enterprise Value 16.2b)
FCF Margin = 530.7% (FCF TTM 5.61b / Revenue TTM 1.06b)
Net Margin = 530.7% (Net Income TTM 5.61b / Revenue TTM 1.06b)
Gross Margin = unknown ((Revenue TTM 1.06b - Cost of Revenue TTM 52.3m) / Revenue TTM)
Tobins Q-Ratio = 0.94 (Enterprise Value 16.2b / Total Assets 17.3b)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 4.43b (EBIT 5.61b * (1 - 21.00%))
Current Ratio = 2.75k (out of range, set to none) (Total Current Assets 17.3b / Total Current Liabilities 6.29m)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 5.61b)
Debt / FCF = unknown (Net Debt none / FCF TTM 5.61b)
Total Stockholder Equity = 14.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 40.04% (Net Income 5.61b / Total Assets 17.3b)
RoE = 37.83% (Net Income TTM 5.61b / Total Stockholder Equity 14.8b)
RoCE = 32.46% (EBIT 5.61b / Capital Employed (Total Assets 17.3b - Current Liab 0.0))
RoIC = 44.3k% (out of range, set to none) (EBIT 5.61b / (Assets 17.3b - Curr.Liab 0.0 - Cash 17.3b))
WACC = 6.66% (E(16.2b)/V(16.2b) * Re(6.66%) + (debt-free company))
Discount Rate = 6.66% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 86.67 | Cagr: 8.46%
[DCF] Terminal Value 77.97% ; FCFF base≈4.51b ; Y1≈5.17b ; Y5≈7.61b
[DCF] Fair Price = 240.4 (EV 115b - Net Debt 0.0 = Equity 115b / Shares 476.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
Revenue Correlation: 75.68 | Revenue CAGR: 97.65% | SUE: N/A | # QB: 0