Sprott Physical Gold and Silver Trust (CEF) - Net Assets
Based on the latest financial reports, Sprott Physical Gold and Silver Trust (CEF) has net assets worth CA$9.34 Billion CAD (≈ $6.75 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$9.34 Billion ≈ $6.76 Billion USD) and total liabilities (CA$5.81 Million ≈ $4.20 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check CEF strategic assets to equity ratio to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$9.34 Billion |
| % of Total Assets | 99.94% |
| Annual Growth Rate | 15.14% |
| 5-Year Change | 121.4% |
| 10-Year Change | 158.9% |
| Growth Volatility | 52.12 |
Sprott Physical Gold and Silver Trust - Net Assets Trend (2005–2025)
This chart illustrates how Sprott Physical Gold and Silver Trust's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market value of Sprott Physical Gold and Silver Trust.
Annual Net Assets for Sprott Physical Gold and Silver Trust (2005–2025)
The table below shows the annual net assets of Sprott Physical Gold and Silver Trust from 2005 to 2025. Also explore Sprott Physical Gold and Silver Trust net asset momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CA$9.07 Billion ≈ $6.56 Billion |
+80.85% |
| 2024-12-31 | CA$5.01 Billion ≈ $3.63 Billion |
+18.50% |
| 2023-12-31 | CA$4.23 Billion ≈ $3.06 Billion |
+5.80% |
| 2022-12-31 | CA$4.00 Billion ≈ $2.89 Billion |
-2.35% |
| 2021-12-31 | CA$4.09 Billion ≈ $2.96 Billion |
-7.44% |
| 2020-12-31 | CA$4.42 Billion ≈ $3.20 Billion |
+49.45% |
| 2019-12-31 | CA$2.96 Billion ≈ $2.14 Billion |
+5.45% |
| 2018-12-31 | CA$2.81 Billion ≈ $2.03 Billion |
+248.88% |
| 2017-12-31 | CA$-1.89 Billion ≈ $-1.36 Billion |
-153.84% |
| 2016-12-31 | CA$3.50 Billion ≈ $2.53 Billion |
+11.44% |
| 2015-12-31 | CA$3.14 Billion ≈ $2.27 Billion |
-2.96% |
| 2014-12-31 | CA$3.24 Billion ≈ $2.34 Billion |
-18.74% |
| 2013-12-31 | CA$3.98 Billion ≈ $2.88 Billion |
-26.84% |
| 2012-12-31 | CA$5.45 Billion ≈ $3.94 Billion |
-3.10% |
| 2011-12-31 | CA$5.62 Billion ≈ $4.07 Billion |
+43.88% |
| 2010-12-31 | CA$3.91 Billion ≈ $2.83 Billion |
+63.99% |
| 2009-12-31 | CA$2.38 Billion ≈ $1.72 Billion |
+97.87% |
| 2008-12-31 | CA$1.20 Billion ≈ $870.95 Million |
-2.71% |
| 2007-12-31 | CA$1.24 Billion ≈ $895.20 Million |
+47.97% |
| 2006-12-31 | CA$836.33 Million ≈ $604.99 Million |
+54.59% |
| 2005-12-31 | CA$541.00 Million ≈ $391.35 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Sprott Physical Gold and Silver Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 9049.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$6.29 Billion | 69.37% |
| Common Stock | CA$2.78 Billion | 30.66% |
| Other Comprehensive Income | CA$-3.12 Million | -0.03% |
| Total Equity | CA$9.07 Billion | 100.00% |
Sprott Physical Gold and Silver Trust Competitors by Market Cap
The table below lists competitors of Sprott Physical Gold and Silver Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Timken Company
NYSE:TKR
|
$8.10 Billion |
|
Akbank TAS
IS:AKBNK
|
$8.10 Billion |
|
Wayfair Inc
NYSE:W
|
$8.10 Billion |
|
Compania de Minas Buenaventura SAA ADR
NYSE:BVN
|
$8.11 Billion |
|
Cullen/Frost Bankers Inc
NYSE:CFR
|
$8.09 Billion |
|
Compañía de Minas Buenaventura S.A.A
F:MBU
|
$8.08 Billion |
|
Airtac International Group
TW:1590
|
$8.07 Billion |
|
Beijing Kunlun Tech Co Ltd
SHE:300418
|
$8.06 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Sprott Physical Gold and Silver Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,012,502,000 to 9,065,009,999, a change of 4,052,507,999 (80.8%).
- Net income of 4,358,846,999 contributed positively to equity growth.
- Share repurchases of 6,468,999 reduced equity.
- New share issuances of 15,423,000 increased equity.
- Other comprehensive income increased equity by 1,358,343.
- Other factors decreased equity by 316,651,344.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$4.36 Billion | +48.08% |
| Share Repurchases | CA$6.47 Million | -0.07% |
| Share Issuances | CA$15.42 Million | +0.17% |
| Other Comprehensive Income | CA$1.36 Million | +0.01% |
| Other Changes | CA$-316.65 Million | -3.49% |
| Total Change | CA$- | 80.85% |
Book Value vs Market Value Analysis
This analysis compares Sprott Physical Gold and Silver Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.78x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 10.54x to 1.78x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-12-31 | CA$5.74 | CA$60.52 | x |
| 2006-12-31 | CA$8.56 | CA$60.52 | x |
| 2007-12-31 | CA$10.87 | CA$60.52 | x |
| 2008-12-31 | CA$9.11 | CA$60.52 | x |
| 2009-12-31 | CA$13.63 | CA$60.52 | x |
| 2010-12-31 | CA$16.39 | CA$60.52 | x |
| 2011-12-31 | CA$22.09 | CA$60.52 | x |
| 2012-12-31 | CA$21.52 | CA$60.52 | x |
| 2013-12-31 | CA$15.66 | CA$60.52 | x |
| 2014-12-31 | CA$12.72 | CA$60.52 | x |
| 2015-12-31 | CA$12.35 | CA$60.52 | x |
| 2016-12-31 | CA$13.79 | CA$60.52 | x |
| 2017-12-31 | CA$0.00 | CA$60.52 | x |
| 2018-12-31 | CA$12.11 | CA$60.52 | x |
| 2019-12-31 | CA$15.05 | CA$60.52 | x |
| 2020-12-31 | CA$21.12 | CA$60.52 | x |
| 2021-12-31 | CA$18.54 | CA$60.52 | x |
| 2022-12-31 | CA$18.36 | CA$60.52 | x |
| 2023-12-31 | CA$19.71 | CA$60.52 | x |
| 2024-12-31 | CA$24.49 | CA$60.52 | x |
| 2025-12-31 | CA$33.93 | CA$60.52 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Sprott Physical Gold and Silver Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 48.08%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2183.81%
- • Asset Turnover: 0.02x
- • Equity Multiplier: 1.00x
- Recent ROE (48.08%) is above the historical average (-42559962.96%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 7.88% | 92.54% | 0.08x | 1.00x | CA$-11.45 Million |
| 2006 | 25.37% | 98.24% | 0.26x | 1.00x | CA$128.55 Million |
| 2007 | 17.63% | 98.04% | 0.18x | 1.00x | CA$94.46 Million |
| 2008 | -29.28% | 0.00% | -0.29x | 1.00x | CA$-472.97 Million |
| 2009 | 30.58% | 99.15% | 0.31x | 1.00x | CA$490.40 Million |
| 2010 | 24.21% | 99.01% | 0.24x | 1.00x | CA$555.12 Million |
| 2011 | 24.40% | 98.85% | 0.25x | 1.00x | CA$809.31 Million |
| 2012 | -3.16% | 0.00% | -0.03x | 1.00x | CA$-716.74 Million |
| 2013 | -36.62% | 0.00% | -0.36x | 1.00x | CA$-1.86 Billion |
| 2014 | -22.98% | 0.00% | -0.23x | 1.00x | CA$-1.07 Billion |
| 2015 | -2.97% | 0.00% | -0.03x | 1.00x | CA$-407.52 Million |
| 2016 | 10.58% | 96.90% | 0.11x | 1.00x | CA$20.23 Million |
| 2017 | -893759363.87% | 0.00% | -7431045.17x | 1.00x | CA$-70.25 Million |
| 2018 | -9.16% | 0.00% | -0.09x | 1.00x | CA$-537.71 Million |
| 2019 | 14.17% | 97.98% | 0.14x | 1.00x | CA$123.49 Million |
| 2020 | 22.79% | 99.59% | 0.23x | 1.00x | CA$565.72 Million |
| 2021 | -7.59% | 0.00% | -0.07x | 1.00x | CA$-720.14 Million |
| 2022 | 0.12% | 58.00% | 0.00x | 1.00x | CA$-395.11 Million |
| 2023 | 7.29% | 98.59% | 0.07x | 1.00x | CA$-114.48 Million |
| 2024 | 20.29% | 99.62% | 0.20x | 1.00x | CA$515.72 Million |
| 2025 | 48.08% | 2183.81% | 0.02x | 1.00x | CA$3.45 Billion |
Industry Comparison
This section compares Sprott Physical Gold and Silver Trust's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,032,838,905
- Average return on equity (ROE) among peers: 7.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Sprott Physical Gold and Silver Trust (CEF) | CA$9.34 Billion | 7.88% | 0.00x | $8.10 Billion |
| Aberdeen International Inc. (AAB) | $98.80 Million | 2.62% | 0.15x | $2.91 Million |
| Base Carbon Inc. (BCBN) | $134.69 Million | 72.96% | 0.05x | $43.04 Million |
| Canadian Banc Corp (BK) | $73.98 Million | 30.26% | 0.83x | $557.29 Million |
| Brookfield Corporation (BN) | $5.39 Billion | 3.62% | 1.56x | $83.88 Billion |
| Canadian General Investments Ltd (CGI) | $1.01 Billion | -25.28% | 0.15x | $781.85 Million |
| CI Financial Corp (CIX) | $295.05 Million | -0.71% | 0.80x | $3.32 Billion |
| Culico Metals Inc. (CLCO) | $9.29 Million | -28.44% | 0.18x | $25.70 Million |
| Clairvest Group Inc. (CVG) | $1.25 Billion | 9.75% | 0.14x | $781.26 Million |
| Cymbria Corporation (CYB) | $1.04 Billion | 2.10% | 0.03x | $1.10 Billion |
About Sprott Physical Gold and Silver Trust
Sprott Physical Gold and Silver Trust is an exchange traded commodity launched and managed by Sprott Asset Management LP. The fund invests in commodity markets. It invests in London Good Delivery physical gold and silver bullion. Sprott Physical Gold and Silver Trust was formed on October 26, 2017 and is domiciled in Canada.