Sprott Physical Platinum and Palladium Trust
Sprott Physical Platinum and Palladium Trust is an exchange traded commodity launched and managed by Sprott Asset Management, LP. The fund invests in commodity markets. It invests in physical platinum and palladium bullion in Good Delivery plate or ingot form. Sprott Physical Platinum and Palladium Trust was formed on December 23, 2011 and is domiciled in Canada.
Sprott Physical Platinum and Palladium Trust (SPPP) - Net Assets
Latest net assets as of September 2025: CA$484.35 Million CAD
Based on the latest financial reports, Sprott Physical Platinum and Palladium Trust (SPPP) has net assets worth CA$484.35 Million 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$508.86 Million) and total liabilities (CA$24.52 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$484.35 Million |
| % of Total Assets | 95.18% |
| Annual Growth Rate | -2.24% |
| 5-Year Change | 31.97% |
| 10-Year Change | 73.92% |
| Growth Volatility | 25.1 |
Sprott Physical Platinum and Palladium Trust - Net Assets Trend (2014–2024)
This chart illustrates how Sprott Physical Platinum and Palladium Trust'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 Platinum and Palladium Trust (2014–2024)
The table below shows the annual net assets of Sprott Physical Platinum and Palladium Trust from 2014 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$167.36 Million | +43.91% |
| 2023-12-31 | CA$116.29 Million | -15.91% |
| 2022-12-31 | CA$138.29 Million | +4.59% |
| 2021-12-31 | CA$132.22 Million | +4.26% |
| 2020-12-31 | CA$126.81 Million | +7.74% |
| 2019-12-31 | CA$117.71 Million | +15.95% |
| 2018-12-31 | CA$101.52 Million | -18.96% |
| 2017-12-31 | CA$125.27 Million | +21.00% |
| 2016-12-31 | CA$103.53 Million | +7.59% |
| 2015-12-31 | CA$96.23 Million | -54.17% |
| 2014-12-31 | CA$209.99 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Sprott Physical Platinum and Palladium 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 decreased by 1588872400.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$216.99 Million | 129.65% |
| Total Equity | CA$167.36 Million | 100.00% |
Sprott Physical Platinum and Palladium Trust Competitors by Market Cap
The table below lists competitors of Sprott Physical Platinum and Palladium Trust ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Medivie Therapeutic Ltd
TA:MDVI
|
$135.65K |
|
Jyske Invest Virksomhedsobligationer
CO:JYIVIRK
|
$135.67K |
|
Akoustis Technologies, Inc.
NASDAQ:AKTSQ
|
$135.67K |
|
Orbite Technologies Inc
PINK:EORBF
|
$135.68K |
|
IBA (IOB.SG)
STU:IOB
|
$135.44K |
|
BTS GROUP -B-
BE:BX1B
|
$135.39K |
|
Focus Home Interactive Société anonyme
STU:0HF
|
$135.29K |
|
AXON PARTNERS GRP EO -10
F:XE1
|
$135.24K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Sprott Physical Platinum and Palladium Trust's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 116,291,000 to 167,359,000, a change of 51,068,000 (43.9%).
- Net loss of 23,337,000 reduced equity.
- Share repurchases of 87,000 reduced equity.
- New share issuances of 75,063,000 increased equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-23.34 Million | -13.94% |
| Share Repurchases | CA$87.00K | -0.05% |
| Share Issuances | CA$75.06 Million | +44.85% |
| Other Changes | CA$-571.00K | -0.34% |
| Total Change | CA$- | 43.91% |
Book Value vs Market Value Analysis
This analysis compares Sprott Physical Platinum and Palladium 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: 1.73x
- 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 2.35x to 1.73x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-12-31 | CA$8.81 | CA$20.75 | x |
| 2014-12-31 | CA$8.31 | CA$20.75 | x |
| 2015-12-31 | CA$4.95 | CA$20.75 | x |
| 2016-12-31 | CA$7.01 | CA$20.75 | x |
| 2017-12-31 | CA$9.14 | CA$20.75 | x |
| 2018-12-31 | CA$9.08 | CA$20.75 | x |
| 2019-12-31 | CA$13.68 | CA$20.75 | x |
| 2020-12-31 | CA$18.18 | CA$20.75 | x |
| 2021-12-31 | CA$15.89 | CA$20.75 | x |
| 2022-12-31 | CA$16.66 | CA$20.75 | x |
| 2023-12-31 | CA$11.28 | CA$20.75 | x |
| 2024-12-31 | CA$12.01 | CA$20.75 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Sprott Physical Platinum and Palladium Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -13.94%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: -0.13x
- • Equity Multiplier: 1.00x
- Recent ROE (-13.94%) is below the historical average (-2.88%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | -5.50% | 0.00% | -0.05x | 1.00x | CA$-38.23 Million |
| 2014 | -0.29% | -91.12% | 0.00x | 1.00x | CA$-21.62 Million |
| 2015 | -50.35% | 0.00% | -0.49x | 1.00x | CA$-58.07 Million |
| 2016 | 9.99% | 94.48% | 0.11x | 1.00x | CA$-8.23K |
| 2017 | 27.38% | 98.54% | 0.28x | 1.00x | CA$21.78 Million |
| 2018 | 6.43% | 92.47% | 0.07x | 1.00x | CA$-3.63 Million |
| 2019 | 32.09% | 97.27% | 0.33x | 1.00x | CA$26.00 Million |
| 2020 | 18.46% | 96.37% | 0.19x | 1.00x | CA$10.72 Million |
| 2021 | -24.00% | 0.00% | -0.23x | 1.00x | CA$-44.83 Million |
| 2022 | -3.87% | 0.00% | -0.03x | 1.00x | CA$-19.18 Million |
| 2023 | -31.00% | 0.00% | -0.30x | 1.00x | CA$-47.68 Million |
| 2024 | -13.94% | 0.00% | -0.13x | 1.00x | CA$-40.07 Million |
Industry Comparison
This section compares Sprott Physical Platinum and Palladium Trust's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $723,893,266
- Average return on equity (ROE) among peers: 3.36%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Sprott Physical Platinum and Palladium Trust (SPPP) | CA$484.35 Million | -5.50% | 0.05x | $135.59K |
| Alaris Equity Partners Income Trust (AD-UN) | $677.05 Million | 8.55% | 0.16x | $610.63 Million |
| AI Artificial Intelligence Ventures Inc. (AIVC) | $10.88 Million | 16.52% | 0.04x | $5.69 Million |
| Brookfield Global Infrastructure Securities Income Fund (BGI-UN) | $74.65 Million | 23.71% | 0.30x | $45.88K |
| Bankers Petroleum Ltd (BNK) | $17.86 Million | -22.98% | 0.81x | $110.44K |
| Sprott Physical Gold and Silver Trust (CEF) | $5.45 Billion | -3.16% | 0.00x | $431.35K |
| Canso Select Opportunities Corporation (CSOC-B) | $12.03 Million | -8.99% | 0.00x | $8.94 Million |
| CoTec Holdings Corp. (CTH) | $-468.00K | 0.00% | 0.00x | $46.70 Million |
| Clairvest Group Inc. (CVG) | $857.81 Million | 12.22% | 0.15x | $158.35 Million |
| Dividend Growth Split Corp (DGS) | $85.05 Million | 29.48% | 1.17x | $52.95K |
| E Split Corp Class A (ENS) | $57.66 Million | -21.74% | 1.05x | $115.63K |