Sprott Physical Platinum and Palladium Trust (SPPP): fair value, margin of safety and Wheel Score

Is SPPP undervalued?

At 12.50 (close of 16 Oct 2026), SPPP trades 39% below the GLS average fair value of 20.44. That average comes from 6 models run on the latest filings, and 4 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Sprott Physical Platinum and Palladium Trust the full Value points in the Wheel Score - and a closer look at what the market is pricing in.

There is a wide gap between DCF (0.5222) and GLS Growth (42.81). 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 SPPP under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.

Nine valuation models for SPPP

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 Platinum and Palladium Trust scores only 2 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. 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. A GLS Moat score of 3.8/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.

Returns on capital are high - ROIC 37.6%, ROE 37.6%, ROA 37.2% - with debt at 0.00 times equity and negative free cash flow.

Sprott Physical Platinum and Palladium 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 39: No options

No options are listed on Sprott Physical Platinum and Palladium Trust in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 39) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.

Volume runs at 416k shares a day on a market cap of $545M, with a beta of 0.27 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 11 of 20.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.

Upcoming events

No upcoming earnings date is recorded for SPPP 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 Platinum and Palladium 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 SPPP with 7 of them   All Financial Services stocks →