Sprott Physical Silver
Sprott Physical Silver Trust is an exchange traded commodity launched and managed by Sprott Asset Management LP. The fund invests in the commodity markets. It primarily invests in physical silver bullion in London Good Delivery bar form. Sprott Physical Silver Trust was formed on June 30, 2010 and is domiciled in Canada.
Sprott Physical Silver (PSLV) - Net Assets
Latest net assets as of September 2025: CA$9.34 Billion CAD
Based on the latest financial reports, Sprott Physical Silver (PSLV) has net assets worth CA$9.34 Billion CAD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$9.40 Billion) and total liabilities (CA$66.84 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$9.34 Billion |
| % of Total Assets | 99.29% |
| Annual Growth Rate | 17.8% |
| 5-Year Change | 117.1% |
| 10-Year Change | 670.34% |
| Growth Volatility | 52.56 |
Sprott Physical Silver - Net Assets Trend (2011–2024)
This chart illustrates how Sprott Physical Silver's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Sprott Physical Silver (2011–2024)
The table below shows the annual net assets of Sprott Physical Silver from 2011 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$5.23 Billion | +28.45% |
| 2023-12-31 | CA$4.07 Billion | -0.53% |
| 2022-12-31 | CA$4.09 Billion | +13.64% |
| 2021-12-31 | CA$3.60 Billion | +49.52% |
| 2020-12-31 | CA$2.41 Billion | +123.51% |
| 2019-12-31 | CA$1.08 Billion | +23.12% |
| 2018-12-31 | CA$874.95 Million | -8.58% |
| 2017-12-31 | CA$957.09 Million | +7.72% |
| 2016-12-31 | CA$888.53 Million | +30.94% |
| 2015-12-31 | CA$678.58 Million | -12.44% |
| 2014-12-31 | CA$775.02 Million | -48.71% |
| 2012-12-31 | CA$1.51 Billion | +143.14% |
| 2011-12-31 | CA$621.43 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Sprott Physical Silver'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 663.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CA$559.25 Million | 10.70% |
| Common Stock | CA$4.76 Billion | 91.10% |
| Total Equity | CA$5.23 Billion | 100.00% |
Sprott Physical Silver Competitors by Market Cap
The table below lists competitors of Sprott Physical Silver ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Lidds AB
ST:LIDDS
|
$225.92K |
|
SKANSKA -B- - Dusseldorf Stock Exchang
DU:SKNB
|
$225.97K |
|
Generation Income Properties Inc Warrant
NASDAQ:GIPRW
|
$225.97K |
|
KOPPERS HLDGS
BE:KO9
|
$226.08K |
|
Latitude Tree Holdings Bhd
KLSE:7006
|
$225.77K |
|
WaterBridge Infrastructure LLC
NYSE:WBI
|
$225.70K |
|
Jyske In Fjernøsten Akt SRI KL
CO:JYIFJASRIKL
|
$225.65K |
|
Sydinv Formue Vækstori Akk A
CO:SYVFVOAKKA
|
$225.43K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Sprott Physical Silver's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 4,069,570,000 to 5,227,389,000, a change of 1,157,819,000 (28.5%).
- Net income of 821,211,000 contributed positively to equity growth.
- Share repurchases of 499,000 reduced equity.
- New share issuances of 358,823,000 increased equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$821.21 Million | +15.71% |
| Share Repurchases | CA$499.00K | -0.01% |
| Share Issuances | CA$358.82 Million | +6.86% |
| Other Changes | CA$-21.72 Million | -0.42% |
| Total Change | CA$- | 28.45% |
Book Value vs Market Value Analysis
This analysis compares Sprott Physical Silver'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: 3.26x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-12-31 | CA$10.81 | CA$35.05 | x |
| 2012-12-31 | CA$15.90 | CA$35.05 | x |
| 2013-12-31 | CA$7.60 | CA$35.05 | x |
| 2014-12-31 | CA$6.09 | CA$35.05 | x |
| 2015-12-31 | CA$5.33 | CA$35.05 | x |
| 2016-12-31 | CA$5.97 | CA$35.05 | x |
| 2017-12-31 | CA$6.49 | CA$35.05 | x |
| 2018-12-31 | CA$5.82 | CA$35.05 | x |
| 2019-12-31 | CA$7.00 | CA$35.05 | x |
| 2020-12-31 | CA$11.30 | CA$35.05 | x |
| 2021-12-31 | CA$9.24 | CA$35.05 | x |
| 2022-12-31 | CA$8.99 | CA$35.05 | x |
| 2023-12-31 | CA$8.17 | CA$35.05 | x |
| 2024-12-31 | CA$10.75 | CA$35.05 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Sprott Physical Silver utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 15.71%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 99.23%
- • Asset Turnover: 0.16x
- • Equity Multiplier: 1.00x
- Recent ROE (15.71%) is above the historical average (-3.93%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2011 | -11.87% | 0.00% | -0.11x | 1.00x | CA$-135.91 Million |
| 2012 | 3.11% | 95.16% | 0.03x | 1.00x | CA$-104.11 Million |
| 2013 | -56.17% | 0.00% | -0.56x | 1.00x | CA$-640.24 Million |
| 2014 | -24.84% | 0.00% | -0.24x | 1.00x | CA$-270.00 Million |
| 2015 | -14.19% | 0.00% | -0.14x | 1.00x | CA$-164.13 Million |
| 2016 | 10.31% | 97.56% | 0.11x | 1.00x | CA$2.78 Million |
| 2017 | 5.24% | 95.64% | 0.05x | 1.00x | CA$-45.52 Million |
| 2018 | -10.02% | 0.00% | -0.10x | 1.00x | CA$-175.15 Million |
| 2019 | 11.71% | 98.36% | 0.12x | 1.00x | CA$18.37 Million |
| 2020 | 30.02% | 99.60% | 0.30x | 1.00x | CA$482.05 Million |
| 2021 | -15.26% | 0.00% | -0.15x | 1.00x | CA$-909.53 Million |
| 2022 | 2.52% | 95.73% | 0.03x | 1.00x | CA$-305.91 Million |
| 2023 | -1.32% | 0.00% | -0.01x | 1.00x | CA$-460.49 Million |
| 2024 | 15.71% | 99.23% | 0.16x | 1.00x | CA$298.47 Million |
Industry Comparison
This section compares Sprott Physical Silver's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $398,436,303
- Average return on equity (ROE) among peers: -4.23%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Sprott Physical Silver (PSLV) | CA$9.34 Billion | -11.87% | 0.01x | $225.91K |
| Alaris Equity Partners Income Trust (AD-UN) | $604.54 Million | 1.97% | 0.32x | $616.42 Million |
| AI Artificial Intelligence Ventures Inc. (AIVC) | $4.27 Million | -129.03% | 0.20x | $5.48 Million |
| Brookfield Global Infrastructure Securities Income Fund (BGI-UN) | $354.64 Million | 11.23% | 0.49x | $48.58K |
| Bankers Petroleum Ltd (BNK) | $28.51 Million | 46.55% | 0.58x | $113.70K |
| Sprott Physical Gold and Silver Trust (CEF) | $1.20 Billion | -29.28% | 0.00x | $452.56K |
| Canso Select Opportunities Corporation (CSOC-B) | $12.03 Million | -8.99% | 0.00x | $8.94 Million |
| CoTec Holdings Corp. (CTH) | $-59.00K | 0.00% | 0.00x | $51.82 Million |
| Clairvest Group Inc. (CVG) | $1.25 Billion | 9.75% | 0.14x | $159.95 Million |
| Dividend Growth Split Corp (DGS) | $296.85 Million | 37.60% | 1.53x | $52.33K |
| E Split Corp Class A (ENS) | $227.99 Million | 17.94% | 0.77x | $118.61K |