CEF (Sprott Physical Gold and Silver Trust) Scaled Net Operating Assets: 1.03 (As of Mar. 2026)


CEF Sprott Physical Gold and Silver Trust CEF
43 GF Score
Price $39.80
GF Value $122.71
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Sprott Physical Gold and Silver Trust Scaled Net Operating Assets?

Sprott Physical Gold and Silver Trust CEF +1.25% 43 Scaled Net Operating Assets is 1.03 as of Mar. 2026. GuruFocus rates CEF with a GF Score™ of 43/100 and a GF Value™ of $122.71 (Significantly Undervalued). The stock has 2 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Sprott Physical Gold and Silver Trust's operating assets for the quarter that ended in Mar. 2026 was $9,336 Mil. Sprott Physical Gold and Silver Trust's operating liabilities for the quarter that ended in Mar. 2026 was $6 Mil. Sprott Physical Gold and Silver Trust's Total Assets for the quarter that ended in Dec. 2025 was $9,068 Mil. Therefore, Sprott Physical Gold and Silver Trust's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 1.03.

CEF
43GF Score
Sprott Physical Gold and Silver Trust CEF
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Sprott Physical Gold and Silver Trust Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Sprott Physical Gold and Silver Trust's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(9048.715-2.524)/5014.915
=1.80

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=9067.534 - 18.819
=9048.715

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2.524 - 0 - 0
=2.524

Sprott Physical Gold and Silver Trust's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(9335.948-5.827)/9067.534
=1.03

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=9367.522 - 31.574
=9335.948

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=5.827 - 0 - 0
=5.827

* 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.

What does a Scaled Net Operating Assets of 1.03 mean?
Sprott Physical Gold and Silver Trust (CEF) has a Scaled Net Operating Assets of 1.03 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Sprott Physical Gold and Silver Trust and its competitors.
Is Sprott Physical Gold and Silver Trust's Scaled Net Operating Assets too high?
Sprott Physical Gold and Silver Trust's current Scaled Net Operating Assets is 1.03. Overall, Sprott Physical Gold and Silver 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 and Silver Trust's Scaled Net Operating Assets compare to BLK and BX?
Sprott Physical Gold and Silver Trust's Scaled Net Operating Assets of 1.03 can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for an Asset Management company?
A good Scaled Net Operating Assets depends on the Asset Management industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Sprott Physical Gold and Silver Trust and its competitors. Sprott Physical Gold and Silver Trust's current Scaled Net Operating Assets is 1.03. 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 and Silver Trust stock overvalued right now?
Based on GuruFocus' analysis, Sprott Physical Gold and Silver Trust (CEF) is currently considered Significantly Undervalued. The stock's GF Value™ is $122.71, compared to a current price of $39.80 — trading 67.6% below its estimated fair value. The current Scaled Net Operating Assets is 1.03. Sprott Physical Gold and Silver 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 Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Sprott Physical Gold and Silver Trust (CEF), the current Scaled Net Operating Assets is 1.03 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 and Silver Trust (CEF) Overvalued in 2026?

Based on GuruFocus' analysis, Sprott Physical Gold and Silver Trust stock appears to be undervalued. The current stock price of $39.80 is trading 67.6% below its estimated GF Value™ of $122.71. GuruFocus considers Sprott Physical Gold and Silver Trust to be Significantly Undervalued.

Key valuation signals for CEF:

  • Scaled Net Operating Assets: 1.03
  • GF Value™: $122.71 vs. price of $39.80 (67.6% below fair value)
  • GF Score™: 43/100 with 2 warning signs

No single metric tells the full story. See the CEF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Sprott Physical Gold and Silver Trust Business Description

Other Exchanges CEF.U:CanadaCEF:Canada
Address 200 Bay Street, Suite 2600, P.O. Box 26, Royal Bank Plaza, South Tower, Calgary, AB, CAN, M5J 2J1
Sprott Physical Gold and Silver Trust is a closed end mutual fund trust. The trust invests and holds all of its assets in physical gold and silver bullion and seeks to provide a secure, convenient and exchange-traded investment alternative for investors interested in holding physical bullion without the inconvenience that is typical of direct investment. Its objective is to invest in long-term holdings of unencumbered, fully allocated, physical gold and silver bullion and does not speculate with regard to short-term changes in bullion prices.
43GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$39.80
Price
$122.71
GF Value