# Sprott Physical Gold and Silver Trust (CEF.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services. Price C$62.70, market value C$11.0 billion.

## Valuation
- **P/E (trailing): 4.1×** (5-yr avg 286.0×, 3-yr avg 9.1×). Sprott Physical Gold and Silver Trust trades at 4.1× trailing earnings, well below its own five-year average of 286.0×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 192.6×**. Each dollar of revenue is priced at 192.6×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 1.1×**. The shares trade at 1.1× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -0.4%** (5-yr avg -0.3%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 24.4%**. The inverse of the P/E: 24.4% of the price is earned each year.

## Profitability
- **Return on equity: 48.1%**. 48.1% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on assets: 24.1%**. Each dollar of assets produces 24.1% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -80.4%** (3-yr 190.4%/yr, 5-yr -27.7%/yr). Revenue fell 80.4% over the last year, against -27.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 350.9%** (3-yr 910.8%/yr, 5-yr 36.0%/yr). Earnings per share rose 350.9%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.
- **Cash and short-term investments: C$12.5 billion**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend: none**. Sprott Physical Gold and Silver Trust does not currently pay a dividend, but it returned -0.3% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 36.9%** (YTD -0.2%, 3-mo 1.9%). The shares are up 36.9% over twelve months including dividends.
- **From 52-week high: -25.4%** (34.8% above the low). Trading 25% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 52**. An RSI of 52 is neutral.
- **Beta (1 yr): 2.01** (volatility 40%). Beta of 2.01 against the S&P/TSX Composite: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CEF.TO · Page: https://foliofundamentals.com/stocks/cef.to

Not investment advice.