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Sprott Physical Gold Trust

TSX:PHYS
Snowflake Description

Adequate balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PHYS
TSX
  1. Home
  2. CA
  3. Diversified Financials
Company description

Sprott Physical Gold Trust is an exchange traded commodity launched and managed by Sprott Asset Management, LP. More info.


Add to Portfolio Compare Print
  • Sprott Physical Gold Trust is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • No market cap data available for Sprott Physical Gold Trust.
PHYS Share Price and Events
7 Day Returns
2.1%
TSX:PHYS
2%
CA Capital Markets
6.4%
CA Market
1 Year Returns
33.1%
TSX:PHYS
-19.2%
CA Capital Markets
-25.5%
CA Market
PHYS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sprott Physical Gold Trust (PHYS) 2.1% 9.4% 16.5% 33.1% - -
CA Capital Markets 2% -24% -26.2% -19.2% -20% -21.3%
CA Market 6.4% -22.6% -26.8% -25.5% -23.5% -17.4%
1 Year Return vs Industry and Market
  • PHYS outperformed the Capital Markets industry which returned -19.2% over the past year.
  • PHYS outperformed the Market in Canada which returned -25.5% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

PHYS Value

 Is Sprott Physical Gold Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.

In this section, we usually try to help investors determine whether Sprott Physical Gold Trust is trading at an attractive price based on the cash flow it is expected to produce in the future. But as Sprott Physical Gold Trust has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis. You can see them here.

Show me the analysis anyway

INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Sprott Physical Gold Trust. This is due to cash flow or dividend data being unavailable. The share price is CA$18.42.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sprott Physical Gold Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sprott Physical Gold Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:PHYS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings () in CAD Not available
ARCA:PHYS Share Price ** ARCA (2020-03-27) in USD $13.16
Canada Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 7.37x
Canada Market PE Ratio Median Figure of 500 Publicly-Listed Companies 10.58x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sprott Physical Gold Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to compare the PE ratio to the industry average as no data exists.
  • Unable to calculate PE ratio for Sprott Physical Gold Trust, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Sprott Physical Gold Trust's expected growth come at a high price?
Raw Data
TSX:PHYS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
North America Capital Markets Industry PEG Ratio Median Figure of 39 Publicly-Listed Capital Markets Companies 1.81x
Canada Market PEG Ratio Median Figure of 235 Publicly-Listed Companies 0.71x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Sprott Physical Gold Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Sprott Physical Gold Trust's assets?
Raw Data
TSX:PHYS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings () in CAD Not available
ARCA:PHYS Share Price * ARCA (2020-03-27) in USD $13.16
Canada Capital Markets Industry PB Ratio Median Figure of 157 Publicly-Listed Capital Markets Companies 0.82x
Canada Market PB Ratio Median Figure of 2,349 Publicly-Listed Companies 0.99x

* Primary Listing of Sprott Physical Gold Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to compare the PB ratio to the industry average as no data exists.
X
Value checks
We assess Sprott Physical Gold Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Sprott Physical Gold Trust has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PHYS Future Performance

 How is Sprott Physical Gold Trust expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Sprott Physical Gold Trust has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.8%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sprott Physical Gold Trust expected to grow at an attractive rate?
  • Unable to compare Sprott Physical Gold Trust's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Sprott Physical Gold Trust's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Sprott Physical Gold Trust's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:PHYS Future Growth Rates Data Sources
Data Point Source Value (per year)
North America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
North America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.6%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.6%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:PHYS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings () See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Sprott Physical Gold Trust is high growth as no earnings estimate data is available.
  • Unable to determine if Sprott Physical Gold Trust is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:PHYS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings () See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Sprott Physical Gold Trust Company Filings, last reported , and in Trailing twelve months (TTM) annual period rather than quarterly.

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Sprott Physical Gold Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Sprott Physical Gold Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sprott Physical Gold Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PHYS Past Performance

  How has Sprott Physical Gold Trust performed over the past 5 years?

In this section we usually display a company’s past earnings and revenues to help investors visualise the trend through time. We also gauge the company’s performance by benchmarking its returns and growth to its industry peers and the wider market. However, Sprott Physical Gold Trust has not provided sufficient past data to assess its track record.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have historical data. You can see them here.

Show me the analysis anyway

  • No data on Sprott Physical Gold Trust's last earnings update.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sprott Physical Gold Trust's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Insufficient past earnings data to establish if Sprott Physical Gold Trust's year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Sprott Physical Gold Trust's 1-year growth to the 5-year average as past earnings data has not been reported.
  • Unable to compare Sprott Physical Gold Trust's 1-year growth to the CA Capital Markets industry average as past earnings data has not been reported.
Earnings and Revenue History
Sprott Physical Gold Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sprott Physical Gold Trust Company Filings, last reported , and in Trailing twelve months (TTM) annual period rather than quarterly.

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Unable to establish if Sprott Physical Gold Trust has efficiently used shareholders’ funds last year as no Return on Equity data is available.
  • Unable to establish if Sprott Physical Gold Trust has efficiently used its assets last year compared to the CA Capital Markets industry average (Return on Assets) as past financial data has not been reported.
  • Unable to establish if Sprott Physical Gold Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Sprott Physical Gold Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sprott Physical Gold Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PHYS Health

 How is Sprott Physical Gold Trust's financial health and their level of debt?

In this section we usually analyse Sprott Physical Gold Trust's finance health to determine how well-positioned it is against times of financial distress, in particular, its ability to manage its cash and debt levels. Sprott Physical Gold Trust has not provided adequate balance sheet data, its financial health cannot be properly assessed as it.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have financial information. You can see them here.

Show me the analysis anyway

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Sprott Physical Gold Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Unable to compare short term assets to short term liabilities as Sprott Physical Gold Trust has not reported sufficient balance sheet data.
  • Unable to establish if Sprott Physical Gold Trust's long term commitments exceed its cash and other short term assets as Sprott Physical Gold Trust has not reported sufficient balance sheet data.
Balance sheet
This treemap shows a more detailed breakdown of Sprott Physical Gold Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Unable to establish if Sprott Physical Gold Trust has a high level of physical assets or inventory without balance sheet data.
  • Sprott Physical Gold Trust has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sprott Physical Gold Trust Company Filings, last reported .

  • Sprott Physical Gold Trust has no debt.
  • Sprott Physical Gold Trust has not taken on any debt in the past 5 years.
  • Sprott Physical Gold Trust has no debt, it does not need to be covered by operating cash flow.
  • Sprott Physical Gold Trust has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Sprott Physical Gold Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sprott Physical Gold Trust has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PHYS Dividends

 What is Sprott Physical Gold Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Sprott Physical Gold Trust dividends.
If you bought CA$2,000 of Sprott Physical Gold Trust shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Sprott Physical Gold Trust's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Sprott Physical Gold Trust's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:PHYS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 6.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 4.9%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Sprott Physical Gold Trust has not reported any payouts.
  • Unable to verify if Sprott Physical Gold Trust's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Sprott Physical Gold Trust's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Sprott Physical Gold Trust has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Sprott Physical Gold Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sprott Physical Gold Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sprott Physical Gold Trust has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PHYS Management

 What is the CEO of Sprott Physical Gold Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
John Noble Wilson
CEO Bio

Mr. John Noble George Wilson is a Co-Chief Executive Officer, Managing Partner and Senior Portfolio Manager Ninepoint Partners LP. He oversees all aspects of the firm’s investment and research initiatives. Prior to Ninepoint’s formation, he was CEO, CO-CIO and Senior Portfolio Manager at Sprott Asset Management (SAM). Previous to SAM, he was Chief Investment Officer at Cumberland Private Wealth Management, founder and CEO of DDX Capital Partners, an alternative investment management firm. He has also serves as a Managing Director at RBC Capital Markets, a Director at UBS Canada and previously, he held a variety of management roles with Nortel Networks. He has a Bachelor of Science in Electrical Engineering from Queen’s University, and an MBA from The Wharton School, University of Pennsylvania.

CEO Compensation
  • Insufficient data for John Noble to compare compensation growth.
  • Insufficient data for John Noble to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team

John Noble Wilson

TITLE
CEO, Co-Chief Investment Officer & Senior Portfolio Manager

James Fox

TITLE
President of Sprott Asset Management LP
TENURE
10.3 yrs

Scott Colbourne

TITLE
Co- Chief Investment Officer of Sprott Asset Management LP
Board of Directors
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
X
Management checks
We assess Sprott Physical Gold Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sprott Physical Gold Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PHYS News

Simply Wall St News

PHYS Company Info

Description

Sprott Physical Gold 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 gold bullion in London Good Delivery bar form. Sprott Physical Gold Trust was formed on August 28, 2009 and is domiciled in Canada.

Details
Name: Sprott Physical Gold Trust
PHYS
Exchange: TSX
Founded: 2009
$0
0
Website: http://sprott.com/investment-strategies/physical-bullion-trusts/gold/net-asset-value-premium-discount/
Address: Sprott Physical Gold Trust
Royal Bank Plaza,
South Tower,
Toronto,
Ontario, M5J 2J1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ARCA PHYS UNIT NYSE Arca US USD 26. Feb 2010
LSE 0MK3 UNIT London Stock Exchange GB USD 26. Feb 2010
TSX PHYS UNIT The Toronto Stock Exchange CA CAD 26. Feb 2010
Number of employees
Current staff
Staff numbers
0
Sprott Physical Gold Trust employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 02:03
End of day share price update: 2020/03/27 00:00
Last earnings filing: N/A
Last earnings reported: N/A
Last annual earnings reported: N/A


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.