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olivLaw · US equity research

Sprott Inc. SII

Finance Services · SIC 6199 · Vertical: Finance Services (SIC 6199)

112.74USD+7.22% · 1 dayClose 04 Nov 2026

Sprott Inc. is a Canadian financial services company listed on the New York Stock Exchange, whose annual report for 2025 was filed with the SEC on Form 40-F in February 2026. The filing states that internal control over financial reporting was effective at December 31, 2025, audited by KPMG LLP.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, Sprott Inc. (SII) stock was 112.74 USD (+7.22% on the day), with market capitalisation 2.9 bn USD, P/E 43.2 on diluted EPS of 2.61 USD over the last 12 months, dividend yield 1.15%, beta 0.98, 52-week range 81.31–166.40 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
2.9 bn USD
shares as of 31 Dec 2025
P/E (TTM)
43.2
Diluted EPS TTM 2.61 · TTM to 31 Dec 2025
E/P (TTM)
2.32%
TTM to 31 Dec 2025
Dividend yield
1.15%
DPS 12m 1.30
Beta (2y)
0.98
Volatility (1y) 52%
52-week range
81.31166.40

Price history

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Technical reading

RSI (14)
53.0
neutral
Bollinger (20, 2)
100.02 – 117.22
in the upper half of the band · %B 0.74 · band width 15.8%
SMA 50 / 200
119.10 / 126.62
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-3.37 / -4.03
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−2.6%−2.0%−0.6 pp—
3 months−2.5%−2.2%−0.3 pp—
6 months−26.0%+4.3%−30.2 pp—
Year to date+15.1%+10.6%+4.6 pp—
1 year+37.6%+10.5%+27.1 pp−52.3%
3 years+264.1%+73.7%+190.5 pp−66.7%
5 years+160.6%+61.7%+98.9 pp—
Max drawdown (1y)
−39.3%
10 Mar 2026 → 30 Oct 2026
Max drawdown (5y)
−50.0%
19 Apr 2022 → 19 Oct 2023
Compound annual growth (5y)
+21.1%
S&P 500 +10.1%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 71 percentile of its own 7-quarter history (min 21.2, median 35.2, max 57.8; quarters with earnings only).

Fiscal years

Fiscal year2019202020212022202320242025
Revenue73.5 m121.8 m164.6 m145.2 m151.4 m178.7 m285.1 m
Revenue YoYunavailable+65.7%+35.2%−11.8%+4.3%+18.0%+59.6%
Net income10.2 m27.0 m33.2 m17.6 m41.8 m49.3 m67.3 m
Net income YoYunavailable+164.3%+23.0%−46.9%+137.1%+17.9%+36.6%
Diluted EPS0.401.051.280.671.601.912.61
Diluted EPS YoYunavailable+162.5%+21.9%−47.7%+138.8%+19.4%+36.6%
net %13.9%22.2%20.2%12.1%27.6%27.6%23.6%
Free cash flow30.8 m25.6 m50.6 m32.4 m28.3 m67.3 m95.8 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
123.4 m USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
367.2 m USD
Total assets
525.8 m USD
Debt / equity
unavailable
Current ratio
1.92x
ROE
19.5%
ROA
14.7%
FCF margin
33.6%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
151.4 m
2024
178.7 m
2025
285.1 m

SEC (XBRL)· 19 Feb 2026verified

Pre-tax income
2023
50.3 m
2024
69.0 m
2025
90.4 m

SEC (XBRL)· 19 Feb 2026verified

Income tax
2023
8.5 m
2024
19.7 m
2025
23.0 m

SEC (XBRL)· 19 Feb 2026verified

Net income
2023
41.8 m
2024
49.3 m
2025
67.3 m

SEC (XBRL)· 19 Feb 2026verified

Diluted EPS
2023
1.60
2024
1.91
2025
2.61

SEC (XBRL)· 19 Feb 2026verified

Weighted average diluted shares
2023
26.1 m
2024
25.9 m
2025
25.8 m

SEC (XBRL)· 19 Feb 2026verified

Dividend per share
2023
1.00
2024
1.05
2025
1.30

SEC (XBRL)· 19 Feb 2026derived

Balance sheet · USD

Cash
2023
20.7 m
2024
46.8 m
2025
123.4 m

SEC (XBRL)· 19 Feb 2026verified

Current assets
2023
43.6 m
2024
79.2 m
2025
187.7 m

SEC (XBRL)· 19 Feb 2026verified

Property, plant & equipment, net
2023
10.9 m
2024
19.2 m
2025
21.3 m

SEC (XBRL)· 19 Feb 2026verified

Goodwill
2023
19.1 m
2024
19.1 m
2025
19.1 m

SEC (XBRL)· 19 Feb 2026verified

Intangibles (excl. goodwill)
2023
182.9 m
2024
168.3 m
2025
183.1 m

SEC (XBRL)· 19 Feb 2026verified

Total assets
2023
378.8 m
2024
388.8 m
2025
525.8 m

SEC (XBRL)· 19 Feb 2026verified

Long-term debt
2023
24.2 m
2024
0
2025
—

SEC (XBRL)· 26 Feb 2025verified

Current liabilities
2023
21.4 m
2024
30.3 m
2025
97.5 m

SEC (XBRL)· 19 Feb 2026verified

Total liabilities
2023
73.1 m
2024
65.2 m
2025
158.5 m

SEC (XBRL)· 19 Feb 2026verified

Equity
2023
305.7 m
2024
323.6 m
2025
367.2 m

SEC (XBRL)· 19 Feb 2026verified

Shares outstanding at year end
2023
25.9 m
2024
25.8 m
2025
25.8 m

SEC (XBRL)· 19 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
29.9 m
2024
69.2 m
2025
97.7 m

SEC (XBRL)· 19 Feb 2026verified

Capex
2023
1.5 m
2024
1.9 m
2025
1.9 m

SEC (XBRL)· 19 Feb 2026verified

Free cash flow
2023
28.3 m ≈
2024
67.3 m ≈
2025
95.8 m ≈

SEC (XBRL)· 19 Feb 2026derived

Investing cash flow
2023
4.6 m
2024
24.5 m
2025
9.3 m

SEC (XBRL)· 19 Feb 2026verified

Financing cash flow
2023
-63.5 m
2024
-57.2 m
2025
-33.3 m

SEC (XBRL)· 19 Feb 2026verified

Dividends paid
2023
25.8 m
2024
27.1 m
2025
33.5 m

SEC (XBRL)· 19 Feb 2026verified

Share repurchases
2023
4.2 m
2024
2.0 m
2025
1.6 m

SEC (XBRL)· 19 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
59.6%
computed by olivLawFY 2025
Revenue CAGR 3Y
25.2%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
18.5%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
unavailable
input data missing
Net income growth (YoY)
36.6%
computed by olivLawFY 2025
Net income CAGR 3Y
56.3%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
20.1%
computed by olivLawFY 2020 → FY 2025
EPS growth (YoY)
36.6%
computed by olivLawFY 2025
EPS CAGR 3Y
57.3%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
20.0%
computed by olivLawFY 2020 → FY 2025
FCF growth (YoY)
42.4%
computed by olivLawFY 2025

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
unavailable
input data missing
EBIT margin
unavailable
input data missing
Net margin
23.6%
computed by olivLawFY 2025
FCF margin
33.6%
computed by olivLawFY 2025

Returns

ROE
19.5%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROA
14.7%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROIC
unavailable
input data missing
ROCE
unavailable
input data missing
Payout ratio (EPS)
49.8%
computed by olivLawFY 2025
Payout ratio (FCF)
35.0%
computed by olivLawFY 2025

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
1.9x
computed by olivLawbalance sheet at 31 Dec 2025
Quick ratio
unavailable
input data missing
Cash ratio
1.3x
computed by olivLawbalance sheet at 31 Dec 2025

Cash

Operating cash flow
97.7 m USD
computed by olivLawFY 2025
Capital expenditure
1.9 m USD
computed by olivLawFY 2025
Free cash flow
95.8 m USD
computed by olivLawFY 2025
FCF conversion
142.3%
computed by olivLawFY 2025
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
2.9 bn USD
computed by olivLawbalance sheet at 31 Dec 2025
Enterprise value
unavailable
input data missing
Market cap / net income TTM
43.2x
computed by olivLawFY 2025
P/E (TTM)
43.2x
computed by olivLawFY 2025
Earnings yield
2.3%
computed by olivLawFY 2025
P/B
7.9x
computed by olivLawbalance sheet at 31 Dec 2025
P/S
10.2x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
30.3x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
FCF yield
3.3%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Dividend yield
1.2%
computed by olivLawFY 2025
Shareholder yield (distributions)
1.2%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Neutral profile

Score: 65 / 100

A scoring methodology on indicators and valuation, not investment advice.

Closing price

112.74 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 2.9 bn USD

Key indicators

Market capitalisation
2.9 bn USD
computed by olivLawbalance sheet at 31 Dec 2025
P/E (TTM)
43.2x
computed by olivLawFY 2025
P/B
7.9x
computed by olivLawbalance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
ROE
19.5%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Net margin
23.6%
computed by olivLawFY 2025
Revenue growth (YoY)
59.6%
computed by olivLawFY 2025
Dividend yield
1.2%
computed by olivLawFY 2025

Coverage and freshness

25/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Dec 2025
Latest balance sheet date: 31 Dec 2025
Share count (cover of the latest filing), as of: 31 Dec 2025
Source: SEC (XBRL)published 19 Feb 2026
verified 186derived 6

Score by group

  • Balance sheet94
  • Valuation18
  • Quality91
  • Growth100
  • Returns50

Estimated value range

Low
13.79
USD per share
Mid
26.57
USD per share
High
40.17
USD per share
Price: 112.74 USD
The price is above the range
Potential to the central value: -76.4% (value / price − 1)
Margin of safety: -324.3% (1 − price / value)
Agreement between methods: low · 2 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 10.48 – 57.35 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/E10.48 – 57.35 (Mid 33.54)
    10 companies used · median multiple 12.8x · quartiles 4.0x – 22.0x
    AXP, DEFT, HKD, JFU, LX, SOFI, VIP, WD, XYF, YRD
  • Dividend discount (DDM)17.09 – 22.99 (Mid 19.61)
Multiple comparisons use the SIC vertical: Finance Services (SIC 6199)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Neutral profile · Score 65/100

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality23.6%82 (vs peers)10%
FCF conversion · Quality142.3%100 (on a fixed band)10%
Revenue CAGR 3Y · Growth25.2%100 (on a fixed band)13%
EPS CAGR 3Y · Growth57.3%100 (on a fixed band)13%
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheetunavailableunavailable—
Current ratio · Balance sheet1.9x94 (on a fixed band)7%
P/E (TTM) · Valuation43.2x0 (vs peers)17%
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation3.3%41 (on a fixed band)13%
Shareholder yield (distributions) · Returns1.2%17 (on a fixed band)10%
Payout ratio (FCF) · Returns35.0%100 (on a fixed band)7%

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial94/100 · 1/3 factors with a value
  • Growth100/100 · 2/2 factors with a value
  • Quality91/100 · 2/3 factors with a value
  • Returns50/100 · 2/2 factors with a value
  • Valuation18/100 · 2/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

Sprott Inc. (SII). Latest full fiscal year: 2025; data up to 2025-12-31.

Figures computed from the financial statements: revenue 285.1 m USD in 2025; YoY growth 59.6%; net margin 23.6%; ROE 19.5%.

The estimated value range is 13.79–40.17 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 26.57 USD, the price of 112.74 USD leaves a potential of -76.4% (value / price − 1) and a margin of safety of -324.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 65/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Net margin: 23.6%
  • FCF conversion: 142.3%
  • Revenue CAGR 3Y: 25.2%
  • EPS CAGR 3Y: 57.3%
  • Current ratio: 1.9x
  • Payout ratio (FCF): 35.0%

What contradicts it

  • P/E (TTM): 43.2x
  • Shareholder yield (distributions): 1.2%
  • The price is above the estimated value range
  • The valuation methods diverge

Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, Interest coverage, EV/EBITDA.

Versus the vertical median

Finance Services (SIC 6199) · same industry (4-digit SIC) · compared with 39 companies

Multiples and returns vs the median

P/E
43.2x
vertical median 12.8x
above median (+236.2%)
EV/EBITDA
—
vertical median —
P/S
10.2x
vertical median 3.3x
above median (+210.6%)
P/B
7.9x
vertical median 1.1x
above median (+645.8%)
ROE
19.5%
vertical median -14.1%
above median
Net margin
23.6%
vertical median -81.1%
above median
EBIT margin
—
vertical median -148.1%
Revenue YoY
59.6%
vertical median 11.1%
above median (+437.8%)
Net debt/EBITDA
—
vertical median -0.4x
Dividend yield
1.2%
vertical median 1.8%
below median (−35.5%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
AXPAmerican Express Co218.3 bn18.335.9%27.9%+6.4%−11% / +91%
COINCoinbase Global, Inc.38.5 bn—-4.7%-12.5%+9.4%−47% / +17%
SOFISoFi Technologies, Inc.21.7 bn35.07.1%104.3%+23.1%−44% / +130%
KLARKlarna Group plc5.2 bn—-11.9%-7.8%+24.8%−56% / unavailable
GPGIGPGI, Inc.3.7 bn—-20.6%—−85.8%−36% / +208%
BLSHBullish3.5 bn—-27.3%-0.3%−2.2%−47% / unavailable
CIFRCipher Digital Inc.3.0 bn—-156.8%-742.3%+48.0%−68% / +135%
SIISprott Inc.2.9 bn43.219.5%23.6%+59.6%+38% / +264%
MARAMara Holdings, Inc.2.7 bn—-107.2%-430.2%+38.2%−42% / −43%
WDWalker & Dunlop, Inc.1.3 bn34.42.2%3.0%+9.0%−41% / −54%
KEELKeel Infrastructure Corp.1.3 bn—-87.6%-230.6%+72.0%−40% / +47%
XYFX Financial1.2 bn5.920.2%19.2%+35.8%−28% / +15%
CDChaince Digital Holdings Inc.741.4 m—-12.3%-182.5%+277.9%−30% / +622%
GDOTGreen Dot Corp727.1 m—-2.8%-1.1%+20.7%+2% / +59%
JFU9F Inc.536.7 m23.24.7%125.2%+12.2%−52% / −43%
CANGCango Inc.272.7 m—-130.8%-90.4%+524.3%−92% / −76%
BKKTBakkt, Inc.215.0 m—-15.9%-1.3%−32.1%−70% / −87%
ZSQRZ Squared Inc.192.4 m—-25.9%-642.0%unavailable−81% / −84%
DEFTDefi Technologies Inc.152.4 m2.374.0%62.9%+215.5%−74% / unavailable
HSDTSolana Company127.0 m—-183.2%-1,302.8%+1,057.1%−49% / −100%
GHIGreystone Housing Impact Investors LP111.0 m——-5.1%−6.4%−33% / −72%
AGPUAxe Compute Inc86.2 m—-1,565.2%-7,769.8%+47.7%+24% / −85%
YRDYiren Digital Ltd.68.9 m8.80.6%1.0%−85.9%−91% / −86%
BTCSBTCS Inc.54.6 m—-354.8%-746.3%+304.8%−67% / +6%
ZSTKZeroStack Corp.47.4 m—-1,993.6%-444.2%−0.5%−67% / −94%

1- and 3-year price returns: for SII from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
73.72
Total return -34% · Per year -34%
129.73
Total return 16% · Per year 16%
194.60
Total return 74% · Per year 74%
3 years
87.44
Total return -19% · Per year -7%
171.57
Total return 57% · Per year 16%
280.22
Total return 154% · Per year 37%
5 years
103.72
Total return -2% · Per year -0%
226.90
Total return 110% · Per year 16%
403.52
Total return 270% · Per year 30%
What moves the 3-year price the most
  • Exit P/E± 42.89
  • Net margin± 30.03
  • Annual revenue growth± 22.39
  • Annual dilution± 2.52

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 19 Feb 2026; since then the company filed 6-K (03 Nov 2026), 6-K (30 Oct 2026), 6-K (05 Aug 2026), 6-K (31 Jul 2026), 6-K (07 May 2026).

In brief

Sprott Inc. is a Canadian financial services company listed on the New York Stock Exchange, whose annual report for 2025 was filed with the SEC on Form 40-F in February 2026 1. The filing states that internal control over financial reporting was effective at December 31, 2025, audited by KPMG LLP 1.

SWOT

Strengths

  • Internal control over financial reporting was assessed as effective by management and audited by an independent accounting firm 1.
  • The company has an audit committee with independent members and a designated financial expert, supporting governance 1.
  • The company has adopted a code of conduct applying to all employees and directors, with no waivers in fiscal 2025 1.

Weaknesses

  • Financial statements are not directly comparable with those of U.S. companies because they are prepared under IFRS 1.
  • The company follows some governance practices permitted under Canadian law instead of NYSE requirements, which could offer investors less protection 1.
  • The available text contains no detailed segment or financial performance data, which limits the analysis.

Opportunities

  • Foreign private issuer status allows reporting under Canadian requirements, which could simplify obligations across several jurisdictions 1.
  • The NYSE listing gives access to a broad base of U.S. investors 1.
  • Effective internal control could support investor confidence in reported figures.

Threats

  • Fluctuations in the Canadian dollar against the U.S. dollar could affect reported dollar figures 1.
  • Regulatory requirements in the U.S. and Canada could raise compliance costs 1.
  • Forward-looking statements in the report are subject to risks and uncertainties that could lead to results differing from expectations 1.

Risks

  • Risks described in the AIFmedium

    The filing refers to the Risk Factors section of the Annual Information Form, included as an exhibit, which could contain company-specific risks; the full text is not available here 1.

  • Forward-looking statementsmedium

    Actual results could differ materially from those expressed in forward-looking statements because of risks identified in the filings 1.

  • Currency riskmedium

    The functional currency is the Canadian dollar while reporting is in U.S. dollars; exchange rate movements could change reported figures 1.

  • Investor protectionlow

    Governance practices drawn from Canadian tradition could give investors less protection than NYSE rules applied to U.S. domestic issuers 1.

  • Limits of internal controllow

    Management acknowledges that no control system can fully prevent errors or fraud; controls can be circumvented or become inadequate over time 1.

Investment thesis

What would need to be true (bull case)

  • If effective internal control is maintained, reported figures could draw greater investor confidence 1.
  • A governance structure with an independent audit committee and a designated financial expert supports oversight of management 1.
  • The NYSE listing and multijurisdictional compliance could facilitate access to international capital 1.

What would break the thesis

  • Differences between IFRS and U.S. GAAP could make comparison with U.S. competitors harder 1.
  • Exposure to the exchange rate could reduce the dollar value of results if the Canadian dollar weakens 1.
  • Governance practices permitted under Canadian law could give shareholders weaker protection than at U.S. companies 1.

What to watch

  • Revenue and profitability figures in the MD&A and audited financial statementsnext 10-K / 40-F
  • Detailed risk factors in the AIFnext 40-F
  • Movement of the Canadian dollar against the U.S. dollar2026
  • Any changes to internal control over financial reporting2026

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 19 Feb 2026; since then the company filed 6-K (03 Nov 2026), 6-K (30 Oct 2026), 6-K (05 Aug 2026), 6-K (31 Jul 2026), 6-K (07 May 2026).

The business

According to the Form 40-F filed for the year ended December 31, 2025, Sprott Inc. prepares its consolidated financial statements under International Financial Reporting Standards, with the Canadian dollar as its functional currency 1. The company is treated as a foreign private issuer and files with the SEC under the multijurisdictional disclosure system between the United States and Canada 1. The source document does not describe the company's operating activities in detail.

Governance includes an Audit and Risk Management Committee of three independent members, and the board determined that at least one audit committee financial expert serves on it 1. The company has adopted a code of business conduct and ethics, and no waivers were granted under it during fiscal 2025 1.

The management structure in the source is presented only by role, and the filing was signed by the Chief Financial Officer and Co-Chief Operating Officer on February 19, 2026 1. Revenue and profitability figures would require other sections of the annual report, which are not included in the available text.

Market context

Sprott Inc. reports in U.S. dollars, referencing the Bank of Canada exchange rate of Cdn$1.3706 to US$1.00 at December 31, 2025 1. The company is listed on the NYSE and falls under the rules of the SEC and Canadian securities regulators 1.

The document provides no data on market size or the company's market share. Movements in the Canadian dollar against the U.S. dollar could influence reported dollar figures, since the Canadian dollar is the functional currency 1.

Trends

  • Currency conversionmixed

    The Canadian dollar's exchange rate against the U.S. dollar affects figures reported in U.S. dollars; if the Canadian dollar weakens, reported dollar revenues could decline. The source gives only the year-end 2024 and 2025 rates 1.

  • IFRS reportingheadwind

    Financial statements are prepared under IFRS, which makes the figures not directly comparable with U.S. GAAP filers; investors could need to adjust comparisons 1.

  • Effective internal controltailwind

    Management concluded that internal control over financial reporting was effective at December 31, 2025, and no material change to it was reported in the period covered 1. This could reduce the risk of reporting errors.

  • Regulatory requirementsmixed

    The company files Form 40-F under the multijurisdictional system and complies with Sarbanes-Oxley requirements, including executive certifications and KPMG's audit of internal control; rising compliance demands could add costs 1.

Competitive position

The source document does not identify direct competitors of Sprott Inc. The company is not compared with other issuers in the available text, so competitive analysis remains limited to the information in the filing 1.

Positioning relative to competitors could only be assessed using sections of the annual report not included here, such as the AIF or MD&A 1.

  • Not identified in source

    The source provided names no competitors, so no verifiable name can be given.

  • Not identified in source

    The source provided names no competitors, so no verifiable name can be given.

  • Not identified in source

    The source provided names no competitors, so no verifiable name can be given.

  • Not identified in source

    The source provided names no competitors, so no verifiable name can be given.

News & filings

In the press

The latest news item in our archive is from 24 Aug 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

Sources

  1. [1] Form 40-F, fiscal year ended 2025-12-31 · SEC / Sprott Inc. · 19 Feb 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.