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what it is
Gold.com buys, finances, stores, and ships precious metals for dealers, collectors, and investors.
how it gets paid
Last year Gold made $11.0B in revenue. gold bullion trading was the main engine at $5.5B, or 50% of sales.
what just happened
Revenue hit $270M and jumped 83% vs. prior year, but EPS still slipped to $0.42.
At a glance
C++ balance sheet — some cracks in the foundation
30/100 earnings predictability — expect surprises
15.1x trailing p/e — the market's not buying it — or you found a deal
1.7% dividend yield — cash in your pocket every quarter
4.1% return on capital — nothing to write home about
xvary composite: 34/100 — weak
What they do
Gold.com buys, finances, stores, and ships precious metals for dealers, collectors, and investors.
Gold.com keeps the whole metal transaction in one place. You can buy bullion, borrow against it, store it, and ship it through the same platform. That matters when the company is handling $11.0B in trailing revenue with 956 employees, because switching cost (the hassle and expense of moving your inventory, credit line, and vaulting setup) is real.
How they make money
$11.0B
annual revenue
gold bullion trading
$5.5B
silver bullion trading
$3.0B
platinum and palladium
$1.1B
secured lending and finance
$0.8B
storage, logistics, and custom products
$0.6B
The products that matter
bulk precious metals trading
Wholesale Sales & Ancillary Services
$9.9B · 90% of revenue
it is the center of gravity. this segment accounts for about $9.9B of the $11B revenue base, which means you are mostly buying trading volume, not a niche side business.
90% of revenue
loans against metal collateral
Secured Lending
$660M · 6% of revenue
this $660M segment adds financing income to the trading platform. it matters because lending is a cleaner revenue stream than pass-through metal sales, but it is still only 6% of the business.
6% of revenue
retail bullion sales
Direct-to-Consumer
$440M · +25% growth
this $440M business grew 25% last year after the move toward the Gold.com identity. it is small today, but it is the clearest place where the company can build something less tied to wholesale churn.
fastest growth
Key numbers
15.1x
trailing p/e
P/E → price versus annual profit → so what: you are paying 15.1 times the last 12 months of earnings for a business with a 0.7% operating margin.
0.7%
operating margin
Operating margin → profit after running the business → so what: on every $100 of sales, Gold.com keeps about 70 cents.
$310M
long-term debt
Long-term debt → borrowings due over years → so what: debt equals 19% of capital, which is manageable but not trivial for a thin-margin operator.
4.1%
return on capital
Return on capital → profit earned on the money tied up in the business → so what: 4.1% says this is a volume business, not a cash geyser.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 4 — safer than 20% of stocks
- price stability 20 / 100
- long-term debt $310M (19% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for GOLD right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $270M and jumped 83% vs. prior year, but EPS still slipped to $0.42.
That is the whole story here. Sales moved hard, but profit did not keep pace, which is what thin-margin trading models do when spreads move against you.
$270M
revenue
$0.42
eps
61.5%
gross margin
the number that mattered
EPS fell 9% vs. prior year even with revenue up 83%, which tells you growth without spread discipline does not help much.
source: company earnings report, 2026
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What could go wrong
the #1 risk is gold-price volatility inside a 0.7% margin trading business.
high
Commodity price volatility
Most of the $11B revenue base is tied to gold and silver flow. When your trailing operating margin is 0.7%, a small move in pricing or inventory marks can do outsized damage.
This is the risk that sits underneath almost every other number on the page.
med
Direct-to-consumer execution after the Gold.com rebrand
Retail sales are only $440M, or 4% of revenue, even after 25% growth last year. If that growth slows, the company stays trapped in a wholesale profile the market already understands.
The upside case needs the mix to improve. Right now, the mix has barely moved.
med
Strategy drift after the Juan Sartori board appointment
A Tether-linked board addition may open the door to digital-asset ambitions. That might sound exciting. It also risks pulling attention away from a core business with only 4.1% return on capital.
If management starts chasing adjacent themes before the base business improves, you get more story and less quality.
You are not buying pricing power. You are buying exposure to metal volumes, metal prices, and management staying disciplined enough not to turn a thin-margin operator into a theme basket.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
reported operating margin after the spike
The latest quarter printed 53.7% versus 41.5% in the comparable prior period. If that normalizes fast, the quarter was a commodity move wearing an operating story costume.
trend
direct-to-consumer staying above the core growth rate
Retail grew 25% last year while the total business grew 13.2%. You want that gap to stay wide. If it closes, the mix shift story weakens fast.
calendar
the next earnings release
After a revenue beat and EPS miss, the next quarter matters more than usual. You need to see whether profits follow the revenue or keep slipping through the cracks.
risk
what the new board seat turns into
Juan Sartori joined on Mar 16, 2026. Watch for signs of a focused precious-metals strategy versus a drift into digital assets because the headline sounds modern.
Analyst rankings
earnings predictability
30 / 100
in human-speak, analysts do not expect smooth quarter-to-quarter results here.
price stability
20 / 100
this stock moves around. if you own it, you should expect a rougher ride than the average name.
balance sheet strength
C++
that grade translates to limited financial flexibility, not distress today but not much room for complacency either.
source: institutional data
Institutional activity
institutional ownership data for GOLD is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$32
current price
n/a
target midpoint · n/a from current
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