Sprott Physical Gold TrustPHYS +1.19%43 ROA % is 31.52% as of Mar. 2026, which is 167% above its 10-year median of 11.81. GuruFocus rates PHYS with a GF Score™ of 43/100 and a GF Value™ of $70.96 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,635 Asset Management companies, Sprott Physical Gold Trust ranks better than 97.43% on this metric.
ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. Sprott Physical Gold Trust's annualizedNet Income for the quarter that ended in Mar. 2026 was $5,242 Mil.
Sprott Physical Gold Trust's average Total Assets over the quarter that ended in Mar. 2026 was $16,631 Mil. Therefore, Sprott Physical Gold Trust's annualized ROA % for the quarter that ended in Mar. 2026 was 31.52%.
The historical rank and industry rank for Sprott Physical Gold Trust's ROA % or its related term are showing as below:
PHYS'
s ROA % Range Over the Past 10 Years
Min: -4 Med: 11.81 Max: 48.38
Current: 40.03
During the past 13 years, Sprott Physical Gold Trust's highest ROA % was 48.38%. The lowest was -4.00%. And the median was 11.81%.
PHYS's ROA % is ranked better than 97.43% of 1635
companies
in the Asset Management industry
Industry Median: 3.97
vs PHYS: 40.03
ROA % measures the rate of return on the total assets (shareholder equity plus liabilities). It measures a firm's efficiency at generating profits from shareholders' equity plus its liabilities. ROA % shows how well a company uses what it has to generate earnings. ROA %s can vary drastically across industries. Therefore, ROA % should not be used to compare companies in different industries. For retailers, a ROA % of higher than 5% is expected. For example, Wal-Mart (WMT) has a ROA % of about 8% as of 2012. For banks, ROA % is close to their interest spread. A banks ROA % is typically well under 2%.
Similar to ROE, ROA % is affected by profit margins and asset turnover. This can be seen from the Du Pont Formula:
Note:
The Net Income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue 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.
Be Aware
Like ROE, ROA % is calculated with only 12 months data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. ROA % can be affected by events such as stock buyback or issuance, and by goodwill, a company's tax rate and its interest payment. ROA % may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high ROA % may indicate vulnerability in the durability of the competitive advantage.
E.g. Raising $43b to take on KO is impossible, but $1.7b to take on Moody's is. Although Moody's ROA % and underlying economics is far superior to Coca Cola, the durability is far weaker because of lower entry cost.
* 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 ROA %, along with its competitors' market caps and ROA % 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 ROA % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Sprott Physical Gold Trust's ROA % distribution charts can be found below:
* The bar in red indicates where Sprott Physical Gold Trust's ROA % falls into.
* 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.
In the calculation of annual ROA %, the net income of the last fiscal year and the average total assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
ROA % is displayed in the 30-year financial page.
Sprott Physical Gold Trust (PHYS) has a ROA % of 31.52% as of Mar. 2026. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on Sprott Physical Gold Trust and its competitors. This is 167% above median its historical median of 11.81. According to the industry distribution chart, Sprott Physical Gold Trust ranks #42 out of 1635 companies in the Asset Management industry, placing it in the top 2.6%.
Is Sprott Physical Gold Trust's ROA % too high?
Sprott Physical Gold Trust's current ROA % of 31.52% is 167% above median its 10-year median of 11.81. The Asset Management industry median ROA % is 3.97. Sprott Physical Gold Trust's value of 31.52% is 694% above this industry median. Based on the distribution chart, Sprott Physical Gold Trust ranks #42 out of 1635 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Sprott Physical Gold Trust has a GF Score™ of 43/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Sprott Physical Gold Trust's ROA % compare to BLK and BX?
According to the Asset Management industry distribution chart, Sprott Physical Gold Trust ranks #42 out of 1635 companies for ROA %. This places Sprott Physical Gold Trust in the top 3% of its industry — outperforming the majority of peers. The industry median ROA % is 3.97. Sprott Physical Gold Trust's value of 31.52% is 694% above this benchmark. While the company's 10-year median is 11.81 vs. the industry median of 3.97, 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 ROA % for an Asset Management company?
The median ROA % among Asset Management companies is 3.97, based on 1,635 companies in the industry. Companies in the top quartile (top 25%) have a ROA % significantly above this median, while those in the bottom quartile fall well below. However, ROA % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sprott Physical Gold Trust's current ROA % of 31.52% is 694% 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 ROA % mean?
A high ROA % can signal that a stock is expensive relative to its fundamentals. Return on assets is the ratio of current-period net income to average two-period total assets. View historical data on Sprott Physical Gold Trust and its competitors. For the Asset Management industry, the median ROA % is 3.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sprott Physical Gold Trust's current ROA % is 31.52%, which is 167% above median its own 10-year median of 11.81. 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 ROA % is 31.52%, which is 167% above median its 10-year median of 11.81 and 694% above the Asset Management industry median of 3.97. Sprott Physical Gold Trust's overall GF Score™ is 43/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROA % calculated?
ROA % is calculated from a company's financial statements. For Sprott Physical Gold Trust (PHYS), the current ROA % is 31.52% as of Mar. 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:
ROA %: 31.52% (167% above median its 10-year median of 11.81)
GF Value™: $70.96 vs. price of $30.66 (56.8% below fair value)
Industry Position: 694% above the Asset Management median (#42 of 1635)
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.
43GF Score
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