iShares Gold TrustIAU
NYSEArca
The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities. It is not actively managed. The Trust does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of gold. The advisor intends to constitute a simple and cost-effective means of making an investment similar to an investment in gold. An investment in physical gold requires expensive and sometimes complicated arrangements in connection with the assay, transportation, warehousing and insurance of the metal.
iShares Gold Trust Shares (IAU) reported trailing twelve months revenue of $0 as of March 2026, a NaN% decline year-over-year. Quarterly revenue reached $0, reflecting a contraction in sales.
iShares Gold Trust Shares generated $22.62B in TTM net income, with quarterly EBITDA of $-47.41M. The operating margin contracted from -2281275000.0% to -4740731900.0%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-4740731900.0%) and net margin (491157287400.0%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 655063662100.0% a year ago, reflecting increased costs or interest expense.
IAU trades at a P/E of 3.2x (below the broader market average) and a P/S of N/A. The price-to-book ratio of 1.0x reflects a moderate premium to book value.
The company generated $0 in free cash flow over the trailing twelve months, indicating cash generation ability. The balance sheet shows $70.71B in total assets with no in long-term debt against $70.61B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -2857598925.0%. The business may lack pricing power or face rising costs.'
Consistently high ROE averaging 27.0% suggests a durable competitive advantage and efficient capital allocation.
Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF consistently trails net income (avg 0.0x) — earnings may be inflated by non-cash items or aggressive accounting.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 29.8% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation