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Sprott Physical Gold TrustPHYS +1.03%50 Cyclically Adjusted PS Ratio is 10.98 as of Jul. 19, 2026, which is 72% below its 10-year median of 39.20. GuruFocus rates PHYS with a GF Score™ of 50/100 and a GF Value™ of $70.96 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 904 Asset Management companies, Sprott Physical Gold Trust ranks worse than 65.6% on this metric.
The historical rank and industry rank for Sprott Physical Gold Trust's Cyclically Adjusted PS Ratio or its related term are showing as below:
PHYS'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 10.95 Med: 39.2 Max: 1550
Current: 10.95
During the past years, Sprott Physical Gold Trust's highest Cyclically Adjusted PS Ratio was 1550.00. The lowest was 10.95. And the median was 39.20.
PHYS's Cyclically Adjusted PS Ratio is ranked worse than 65.6% of 904
companies
in the Asset Management industry
Industry Median: 7.63
vs PHYS: 10.95
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
Sprott Physical Gold Trust's adjusted revenue per share data for the three months ended in Mar. 2026 was $2.724. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $2.76 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Sprott Physical Gold Trust (ARCA:PHYS) Cyclically Adjusted PS Ratio Explanation
Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.
Sprott Physical Gold Trust Cyclically Adjusted PS Ratio Related Terms
Sprott Physical Gold Trust Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Sprott Physical Gold Trust's Cyclically Adjusted PS Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sprott Physical Gold Trust Cyclically Adjusted PS Ratio Chart
PHYS vs BLK, BX, KKR: Cyclically Adjusted PS Ratio Comparison
For the Asset Management subindustry, Sprott Physical Gold Trust's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Sprott Physical Gold Trust Cyclically Adjusted PS Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Sprott Physical Gold Trust's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Sprott Physical Gold Trust's Cyclically Adjusted PS Ratio falls into.
Sprott Physical Gold Trust Cyclically Adjusted PS Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PS Ratio of 10.98 mean?
Sprott Physical Gold Trust (PHYS) has a Cyclically Adjusted PS Ratio of 10.98 as of Jul. 19, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Sprott Physical Gold Trust and its competitors. This is 72% below median its historical median of 39.20. Over the past decade, Sprott Physical Gold Trust's Cyclically Adjusted PS Ratio has ranged from 10.95 to 1,550.00. According to the industry distribution chart, Sprott Physical Gold Trust ranks #593 out of 904 companies in the Asset Management industry, placing it in the top 65.6%.
Is Sprott Physical Gold Trust's Cyclically Adjusted PS Ratio too high?
Sprott Physical Gold Trust's current Cyclically Adjusted PS Ratio of 10.98 is 72% below median its 10-year median of 39.20. Over the past 10 years, this metric has ranged from a low of 10.95 to a high of 1,550.00. The Asset Management industry median Cyclically Adjusted PS Ratio is 7.63. Sprott Physical Gold Trust's value of 10.98 is 43.9% above this industry median. Based on the distribution chart, Sprott Physical Gold Trust ranks #593 out of 904 companies in the Asset Management industry, which is below the industry midpoint. Overall, Sprott Physical Gold Trust has a GF Score™ of 50/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Sprott Physical Gold Trust's Cyclically Adjusted PS Ratio compare to BLK and BX?
According to the Asset Management industry distribution chart, Sprott Physical Gold Trust ranks #593 out of 904 companies for Cyclically Adjusted PS Ratio. This places Sprott Physical Gold Trust in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 7.63. Sprott Physical Gold Trust's value of 10.98 is 43.9% above this benchmark. Historically, Sprott Physical Gold Trust's own Cyclically Adjusted PS Ratio has ranged from 10.95 to 1,550.00 over the past decade. While the company's 10-year median is 39.20 vs. the industry median of 7.63, Sprott Physical Gold Trust has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for an Asset Management company?
The median Cyclically Adjusted PS Ratio among Asset Management companies is 7.63, based on 904 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sprott Physical Gold Trust's current Cyclically Adjusted PS Ratio of 10.98 is 43.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Sprott Physical Gold Trust and its competitors. For the Asset Management industry, the median Cyclically Adjusted PS Ratio is 7.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sprott Physical Gold Trust's current Cyclically Adjusted PS Ratio is 10.98, which is 72% below median its own 10-year median of 39.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sprott Physical Gold Trust stock overvalued right now?
Based on GuruFocus' analysis, Sprott Physical Gold Trust (PHYS) is currently considered Significantly Undervalued. The stock's GF Value™ is $70.96, compared to a current price of $30.31 — trading 57.3% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 10.98, which is 72% below median its 10-year median of 39.20 and 43.9% above the Asset Management industry median of 7.63. Sprott Physical Gold Trust's overall GF Score™ is 50/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Sprott Physical Gold Trust (PHYS), the current Cyclically Adjusted PS Ratio is 10.98 as of Jul. 19, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Sprott Physical Gold Trust (PHYS) Overvalued in 2026?
Based on GuruFocus' analysis, Sprott Physical Gold Trust stock appears to be undervalued.
The current stock price of $30.31 is trading 57.3% below its estimated GF Value™ of $70.96.
GuruFocus considers Sprott Physical Gold Trust to be Significantly Undervalued.
Key valuation signals for PHYS:
Cyclically Adjusted PS Ratio: 10.98 (72% below median its 10-year median of 39.20)
GF Value™: $70.96 vs. price of $30.31 (57.3% below fair value)
Industry Position: 43.9% above the Asset Management median (#593 of 904)
No single metric tells the full story. See the PHYS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sprott Physical Gold Trust is a closed-end mutual fund trust. The company provides a secure, convenient and exchange-traded investment alternative for investors interested in holding physical gold bullion without the inconvenience associated with direct investment in physical gold bullion. The company invests mainly in long-term holdings of unencumbered, fully allocated, physical gold bullion and does not and will not speculate about short-term changes in gold prices.
50GF Score
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Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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