Sprott Physical Gold TrustPHYS +1.19%47 PB Ratio is 0.85 as of Jun. 27, 2026, which is 16% below its 10-year median of 1.01. GuruFocus rates PHYS with a GF Score™ of 47/100 and a GF Value™ of $70.96 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,604 Asset Management companies, Sprott Physical Gold Trust ranks better than 70.14% on this metric.
Sprott Physical Gold Trust stock PB Ratio (=0.86) is close to 10-year low of 0.85.
The historical rank and industry rank for Sprott Physical Gold Trust's PB Ratio or its related term are showing as below:
PHYS'
s PB Ratio Range Over the Past 10 Years
Min: 0.81 Med: 1.01 Max: 1.19
Current: 0.83
During the past 13 years, Sprott Physical Gold Trust's highest PB Ratio was 1.19. The lowest was 0.81. And the median was 1.01.
PHYS's PB Ratio is ranked better than 70.14% of 1604
companies
in the Asset Management industry
Industry Median: 0.95
vs PHYS: 0.83
During the past 12 months, Sprott Physical Gold Trust's average Book Value Per Share Growth Rate was 48.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 32.40% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 15.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 11.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Sprott Physical Gold Trust was 32.40% per year. The lowest was -14.40% per year. And the median was 5.60% per year.
Back to Basics: PB Ratio
Sprott Physical Gold Trust (ARCA:PHYS) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Sprott Physical Gold Trust PB Ratio Related Terms
Sprott Physical Gold Trust PB Ratio Historical Data
* 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.
For the Asset Management subindustry, Sprott Physical Gold Trust's PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Sprott Physical Gold Trust's PB Ratio distribution charts can be found below:
* The bar in red indicates where Sprott Physical Gold Trust's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Sprott Physical Gold Trust (PHYS) has a PB Ratio of 0.85 as of Jun. 27, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Sprott Physical Gold Trust and its competitors. This is 16% below median its historical median of 1.01. Over the past decade, Sprott Physical Gold Trust's PB Ratio has ranged from 0.81 to 1.19. According to the industry distribution chart, Sprott Physical Gold Trust ranks #479 out of 1604 companies in the Asset Management industry, placing it in the top 29.9%.
Is Sprott Physical Gold Trust's PB Ratio too high?
Sprott Physical Gold Trust's current PB Ratio of 0.85 is 16% below median its 10-year median of 1.01. Over the past 10 years, this metric has ranged from a low of 0.81 to a high of 1.19. The Asset Management industry median PB Ratio is 0.95. Sprott Physical Gold Trust's value of 0.85 is 10.5% below this industry median. Based on the distribution chart, Sprott Physical Gold Trust ranks #479 out of 1604 companies in the Asset Management industry, which is above the industry midpoint. Overall, Sprott Physical Gold Trust has a GF Score™ of 47/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Sprott Physical Gold Trust's PB Ratio compare to BLK and BX?
According to the Asset Management industry distribution chart, Sprott Physical Gold Trust ranks #479 out of 1604 companies for PB Ratio. This puts Sprott Physical Gold Trust in the upper half of its industry. The industry median PB Ratio is 0.95. Sprott Physical Gold Trust's value of 0.85 is 10.5% below this benchmark. Historically, Sprott Physical Gold Trust's own PB Ratio has ranged from 0.81 to 1.19 over the past decade. While the company's 10-year median is 1.01 vs. the industry median of 0.95, Sprott Physical Gold Trust has consistently been below 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 PB Ratio for an Asset Management company?
The median PB Ratio among Asset Management companies is 0.95, based on 1,604 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sprott Physical Gold Trust's current PB Ratio of 0.85 is 10.5% below 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Sprott Physical Gold Trust and its competitors. For the Asset Management industry, the median PB Ratio is 0.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sprott Physical Gold Trust's current PB Ratio is 0.85, which is 16% below median its own 10-year median of 1.01. 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 $30.66 — trading 56.8% below its estimated fair value. The current PB Ratio is 0.85, which is 16% below median its 10-year median of 1.01 and 10.5% below the Asset Management industry median of 0.95. Sprott Physical Gold Trust's overall GF Score™ is 47/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Sprott Physical Gold Trust (PHYS), the current PB Ratio is 0.85 as of Jun. 27, 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 $30.66 is trading 56.8% below its estimated GF Value™ of $70.96.
GuruFocus considers Sprott Physical Gold Trust to be Significantly Undervalued.
Key valuation signals for PHYS:
PB Ratio: 0.85 (16% below median its 10-year median of 1.01)
GF Value™: $70.96 vs. price of $30.66 (56.8% below fair value)
Industry Position: 10.5% below the Asset Management median (#479 of 1604)
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.
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