Start here if you're new
what it is
U.S. Global Investors runs investment funds and ETFs, then takes fees when clients keep money with them.
how it gets paid
Last year U S Global Invs made $8M in revenue. Investment Management Services was the main engine at $5.6M, or 70% of sales.
why growth slowed
Revenue fell 23.1% last year. $5 million of quarterly revenue matters because one strong quarter equals more than half of last year's $8 million annual revenue base.
what just happened
Latest quarter revenue hit $5 million and EPS reached $0.05, a sharp rebound from the prior year.
At a glance
C++ balance sheet — some cracks in the foundation
25/100 earnings predictability — expect surprises
2.8% dividend yield — cash in your pocket every quarter
2.7% return on capital — nothing to write home about
-$0.03 fy2025 eps est
xvary composite: 46/100 — below average
What they do
U.S. Global Investors runs investment funds and ETFs, then takes fees when clients keep money with them.
This is a scale-light business. It has just 23 employees and $0 in long-term debt, yet it still produced about $8 million in annual revenue. Asset management fees are recurring revenue (money that shows up as long as clients stay) — so if your niche funds keep assets, a very small team can keep the lights on.
How they make money
$8M
annual revenue · their business grew -23.1% last year
Investment Management Services
$5.6M
Canada Management Services
$1.2M
Corporate Investments
$1.2M
The products that matter
manages fund assets
Mutual Funds & ETFs
$1.5B AUM · +12% in the quarter
this is the core business. more assets usually mean more fees, which is why the jump to $1.5B mattered even with profit still thin.
fee engine
collects advisory revenue
Investment Advisory Fees
$7.2M · about 90% of revenue
this line fell 23.1% from a year ago. that is the whole story: if fees do not stabilize, the turnaround case stays theoretical.
main revenue line
returns capital
Corporate Treasury
$84,180 buyback · 2.8% yield
the company bought back $84,180 of stock last quarter and pays a monthly dividend. nice signal, but capital returns do not fix a weak operating model on their own.
shareholder return
Key numbers
-$0.03
fy2025 eps est
$9M
fy2025 rev est
n/a
trailing p/e
2.8%
dividend yield
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 35 / 100
- long-term debt $0M (0% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for GROW right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Latest quarter revenue hit $5 million and EPS reached $0.05, a sharp rebound from the prior year.
EDGAR shows revenue rose 90% vs. prior year in the latest quarter while EPS improved 171% to $0.05. That is the good news. The bigger picture still shows annual revenue of just $8 million and a negative operating margin.
$5M
revenue
$0.05
eps
35.3%
gross margin
the number that mattered
$5 million of quarterly revenue matters because one strong quarter equals more than half of last year's $8 million annual revenue base.
source: company earnings report, 2026
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What could go wrong
your biggest risk is fee revenue tied to a small, market-sensitive asset base.
high
advisory fees do almost all the work
Investment advisory fees were $7.2M out of roughly $8M in revenue. When one line drives about 90% of the business, you are exposed to market moves, fund performance, and client flows all at once.
If AUM stalls, the revenue rebound stalls with it.
med
higher assets have not fixed profitability yet
AUM grew 12% in the quarter to $1.5B, but pretax income was only $535K and FY2025 EPS is still expected at -$0.03. You can get asset growth without getting a durable earnings story.
That is the difference between a rebound and a rerating.
med
there is no moat if performance slips
This is a small asset manager with a 2.7% return on capital and no obvious distribution edge in the numbers. If performance or flows weaken, clients have plenty of other places to go.
Low switching friction keeps pressure on both fees and scale.
With $7.2M of roughly $8M revenue coming from advisory fees and EPS still expected at -$0.03, this business does not have much room for another stumble.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
whether fee revenue follows the AUM jump
AUM reached $1.5B after 12% quarterly growth. The next question is simple: does that show up in advisory fees, or was the quarter just a market bounce?
calendar
next earnings date
The next earnings call is estimated for May 7, 2026. You want another quarter where asset growth and profit move in the same direction.
trend
recovery versus one good quarter
Revenue rose 11.5% in the latest quarter, but the last full year still fell 22.7%. Same business. Two very different signals. You need to know which one is real.
risk
capital returns versus operating reality
A 2.8% dividend yield and an $84,180 buyback look shareholder-friendly. If earnings stay weak, those moves start to look cosmetic rather than catalytic.
Analyst rankings
earnings predictability
25 / 100
in human-speak, analysts do not trust this company to deliver steady quarters
risk rank
3
middle-of-the-pack risk. Not broken, not safe, and small enough that execution matters a lot.
balance sheet grade
C++
below average balance sheet grade. Zero long-term debt helps, but it does not turn a thin business into a strong one.
source: institutional data
Institutional activity
institutional ownership data for GROW is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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