Sprott Physical Silver Trust (PSLV) Stock Analysis
NYSE American
Sprott Physical Silver Trust (PSLV) posted $8.49B in revenue for fiscal 2025 (up 925.6% year over year), at a 99.9% net margin, and has compounded revenue about 328.6%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Sprott Physical Silver Trust
Sprott Physical Silver Trust has grown revenue from $107.82M to $8.49B over the last 4 fiscal years, compounding about 328.6% a year. The most recent year was up 925.6%, so growth is actually accelerating.
Net margin sits at 99.9%, up 0.7 points year over year.
The one thing worth a second look in the filings is reported earnings run ahead of cash.
Synthesised from Sprott Physical Silver Trust's SEC filings — descriptive, not advice. Ask the analyst your own question →
Sprott Physical Silver Trust revenue & earnings — last 4 fiscal years
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $107.82M | $-47.43M | $827.54M | $8.49B |
| Gross profit | — | — | — | — |
| Net income | $103.22M | $-53.53M | $821.21M | $8.48B |
| Net margin | 95.7% | 112.9% | 99.2% | 99.9% |
Source: Sprott Physical Silver Trust SEC filings (10-K).
Sprott Physical Silver Trust: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Reported earnings run ahead of cashOver 3 years net income totalled $9245.9M but operating cash flow only $86.1M — earnings aren't fully backed by cash, an accruals flag worth investigating.
- Share count rising (dilution)Shares outstanding grew 27.2% over 3 years (483.1M → 614.4M) — existing holders' stakes are being diluted.
Explore 4 years of Sprott Physical Silver Trust financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Sprott Physical Silver Trust financial history by metric
Sprott Physical Silver Trust — frequently asked questions
What is Sprott Physical Silver Trust's revenue?
Sprott Physical Silver Trust (PSLV) reported revenue of $8.49B for fiscal year 2025, up 925.6% from the prior year, according to its SEC filings.
Is Sprott Physical Silver Trust profitable?
Yes. PSLV earned net income of $8.48B in fiscal 2025, a net margin of 99.9%.
What is PSLV's P/E ratio?
Sprott Physical Silver Trust trades at a price-to-earnings ratio of about 1.4 based on the latest data in our nightly-refreshed cache.
How fast is Sprott Physical Silver Trust growing?
PSLV's revenue grew at roughly 328.6% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Sprott Physical Silver Trust have?
As of fiscal year 2025, PSLV carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Sprott Physical Silver Trust's market cap?
Sprott Physical Silver Trust (PSLV) has a market capitalization of about $12.83B, based on the latest data in our nightly-refreshed cache.
When does Sprott Physical Silver Trust's fiscal year end?
PSLV's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Sprott Physical Silver Trust's official SEC filings (10-K and 10-Q), covering 4 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.