Sprott Physical Gold Trust (PHYS) Operating Expenses (2010 - 2026)
Sprott Physical Gold Trust (PHYS) posted Operating Expenses of $17.4 million for Q1 2026, up 152.16% sequentially from -$33.4 million in Q4 2025, and up 86.13% YoY from $9.4 million in Q1 2025.
Sprott Physical Gold Trust (PHYS) Operating Expenses (2010 - 2026) Analysis & Trends
Sprott Physical Gold Trust has reported Operating Expenses for 17 years, with the latest figure at $17.4 million in Q1 2026.
- Quarterly Operating Expenses rose 86.13% year-over-year to $17.4 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $8.1 million (up 189.1% YoY) and the FY2025 annual result came in at $0.11, up 37.5% from the prior year.
- Operating Expenses grew to $17.4 million in Q1 2026 per PHYS's latest filing, from -$33.4 million in the prior quarter.
- Over five years, Operating Expenses peaked at $17.4 million in Q1 2026 and troughed at -$33.4 million in Q4 2025.
- A 5-year average of $1.0 million and a median of $6.3 million in 2023 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2025 and 2026: Operating Expenses slumped 50.39% in 2025, then surged 86.13% in 2026.
- Over 5 years, Operating Expenses stood at -$17.0 million in 2022, then dropped by 10.6% to -$18.8 million in 2023, then retreated by 18.24% to -$22.2 million in 2024, then plunged by 50.39% to -$33.4 million in 2025, then jumped by 152.16% to $17.4 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $17.4 million, -$33.4 million, and $12.6 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
Powered by 
Peer Comparison
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 17.43 Mn |
| Dec 31, 2025 | -33.42 Mn |
| Sep 30, 2025 | 12.58 Mn |
| Jun 30, 2025 | 11.47 Mn |
| Mar 31, 2025 | 9.37 Mn |
| Dec 31, 2024 | -22.22 Mn |
| Sep 30, 2024 | 8.18 Mn |
| Jun 30, 2024 | 7.46 Mn |
| Mar 31, 2024 | 6.58 Mn |
| Dec 31, 2023 | -18.79 Mn |
| Sep 30, 2023 | 6.28 Mn |
| Jun 30, 2023 | 6.42 Mn |
| Mar 31, 2023 | 6.09 Mn |
| Dec 31, 2022 | -16.99 Mn |
| Sep 30, 2022 | 5.70 Mn |
| Jun 30, 2022 | 5.94 Mn |
| Mar 31, 2022 | 5.35 Mn |
| Dec 31, 2021 | -14.88 Mn |
| Sep 30, 2021 | 5.09 Mn |
| Jun 30, 2021 | 4.63 Mn |