Sprott Physical Silver Trust (PSLV): fair value, margin of safety and Wheel Score

Is PSLV undervalued?

Sprott Physical Silver Trust (PSLV) closed at 16.98 on 5 Nov 2026. The GLS average fair value - the simple average of the 6 valuation models that produced a positive number - is 181.30, which puts the price 91% below it. 5 of the 6 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.

There is a wide gap between DCF (0.3554) and GLS Growth (406.26). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.

The nightly engine files PSLV under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.

Nine valuation models for PSLV

Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.

Quality and financial health

Sprott Physical Silver Trust scores only 3 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. On durability PSLV scores 5.0/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.

Returns on capital are high - ROIC 56.1%, ROE 56.1%, ROA 55.4% - with debt at 0.00 times equity and negative free cash flow.

Sprott Physical Silver Trust pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain.

Institutional ownership scores 3/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 31: No options

No options are listed on Sprott Physical Silver Trust in our nightly snapshot, so it fails the first Wheel Trade Filter (options that actually trade) (it reads 31, under 70) and is left out of every options scan; the fair value and health figures above are still useful for a plain stock position.

Volume runs at 12.4M shares a day on a market cap of $10.7B, with a beta of 0.49 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that good.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.

Upcoming events

No upcoming earnings date is recorded for PSLV in the nightly calendar.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

Similar stocks in Asset Management

The 12 companies below are the closest to Sprott Physical Silver Trust by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.

⚖ Compare PSLV with 7 of them   All Financial Services stocks →