U S Global Investors Inc is a US-listed company in the asset management & custody banks industry. Its financial year ends in June.
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to June 2026 was $14m, up 32.8% on a year earlier, about the same pace as a quarter earlier. The diluted share count is down 4.9% on a year earlier, which lifts each remaining share.
Our model value for U S Global Investors is under review, so past values are not shown until it is resolved.
Source: 10-K filed September 3, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
U S Global Investors Inc's trailing-twelve-month revenue grew 32.8% year on year, with a free-cash-flow margin of 5.2%. Where it stands out: stock pay as % of revenue of 0.1% ranks 4 of 40 asset management & custody banks companies we cover.
Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 100% in the quarter to 2013-09-30.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
No model value for U S Global Investors Inc at the moment. Current status: valuation models disagree too widely to rate. Available reported financials are shown below.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value U S Global Investors Inc as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.76 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | ~$4.2 ~$3.0–$7.6 | Primary model, counts double |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$2.1 ~$1.4–$3.1 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$1.4 ~$1.2–$1.6 | Included |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$5.7 ~$5.8–$16 | Included |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | ~$1.5 ~$1.3–$1.8 | Included |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare U S Global Investors Inc with asset managers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Strong moat
How hard U S Global Investors's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median 2.4% of total assets over 10 years.
Operating margin has been a median -4.4%; its worst year was -82.2%.
The diluted share count fell 15.8% over five years; stock-based pay has been a median 0.1% of revenue.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (83 before it).
Next results: November 12, 2026, after the close.
No analyst estimates are published for U S Global Investors Inc: too few analysts cover it.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2013 | $0.00 | $0.00 | −100.0% |
| Jun 2013 | −$0.00 | −$0.02 | −1900.0% |
| Mar 2013 | $0.01 | $0.00 | −100.0% |
| Dec 2012 | −$0.01 | $0.01 | +242.9% |
Adjusted EPS as companies report it, against the average analyst estimate.
Last 12 months +11.4%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $11m | $14m | +32.8% |
| P/S multiple | 3.0x | 2.4x | −20.2% |
| Share count | 13m | 13m | +5.2% |
Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.
Last 3 years +8.5%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $15m | $14m | −4.5% |
| Net margin | 20.9% | 21.2% | +1.6% |
| P/E multiple | 11.5x | 11.1x | −3.1% |
| Share count | 15m | 13m | +15.4% |
Biggest factor: share count.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| GROW | −18% | −33% | +1% | −10% | +3% | +14% |
| Industry peers (median) | +33% | −17% | +19% | +15% | −4% | −6% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| GROW | 42% | 42% | 42% | 50% | 42% | 64% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| GROW | −64% | −55% | −24% | −16% | −18% | −32% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 87% from December 18, 2017 to March 24, 2020. Getting back needed a 663% gain, reached on February 5, 2021, 318 days after the low.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| September 3, 2026 | −7.7% | +0.7% | −9.9% | −10.0% |
| June 8, 2026 | +4.1% | −0.1% | +12.3% | +11.9% |
| May 13, 2026 | +1.6% | +1.4% | +3.5% | +16.1% |
| February 20, 2026 | +4.7% | −0.3% | +5.0% | −5.4% |
| November 12, 2025 | −2.1% | −1.6% | −7.0% | 0.0% |
| September 8, 2025 | −0.8% | +0.5% | +2.8% | +11.9% |
| May 9, 2025 | −1.0% | +3.2% | +1.7% | +11.9% |
| February 12, 2025 | −2.4% | +0.7% | −2.4% | −9.7% |
| November 7, 2024 | −0.5% | +1.2% | −3.3% | −3.3% |
| September 11, 2024 | −0.4% | +1.9% | −0.5% | −5.2% |
| May 9, 2024 | −2.9% | +0.7% | −1.8% | −4.5% |
| February 9, 2024 | +0.3% | +0.5% | −5.2% | −5.2% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY24 Q1 | $13.8M |
| FY24 Q2 | $12.9M |
| FY24 Q3 | $11.9M |
| FY24 Q4 | $11M |
| FY25 Q1 | $10M |
| FY25 Q2 | $9.4M |
| FY25 Q3 | $8.9M |
| FY25 Q4 | $10.8M |
| FY26 Q1 | $10.9M |
| FY26 Q2 | $11.2M |
| FY26 Q3 | $11.9M |
| FY26 Q4 | $14.4M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY24 Q1 | -39.0% |
| FY24 Q2 | -34.8% |
| FY24 Q3 | -31.1% |
| FY24 Q4 | -27.1% |
| FY25 Q1 | -27.5% |
| FY25 Q2 | -26.9% |
| FY25 Q3 | -24.7% |
| FY25 Q4 | -1.3% |
| FY26 Q1 | 9.3% |
| FY26 Q2 | 19.1% |
| FY26 Q3 | 33.0% |
| FY26 Q4 | 32.8% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY24 Q1 | 15.6% |
| FY24 Q2 | 11.2% |
| FY24 Q3 | 1.9% |
| FY24 Q4 | -4.4% |
| FY25 Q1 | -12.5% |
| FY25 Q2 | -21.1% |
| FY25 Q3 | -26.7% |
| FY25 Q4 | -27.5% |
| FY26 Q1 | -26.9% |
| FY26 Q2 | -22.2% |
| FY26 Q3 | -12.7% |
| FY26 Q4 | -4.2% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY24 Q1 | 18.6% |
| FY24 Q2 | 20.0% |
| FY24 Q3 | 8.1% |
| FY24 Q4 | 7.1% |
| FY25 Q1 | -0.3% |
| FY25 Q2 | -4.4% |
| FY25 Q3 | -8.0% |
| FY25 Q4 | -7.6% |
| FY26 Q1 | -8.0% |
| FY26 Q2 | -1.9% |
| FY26 Q3 | 4.3% |
| FY26 Q4 | 5.2% |
| Fiscal year | 2010 Jun 2010 | 2011 Jun 2011 | 2012 Jun 2012 | 2017 Jun 2017 | 2018 Jun 2018 | 2019 Jun 2019 | 2020 Jun 2020 | 2021 Jun 2021 | 2022 Jun 2022 | 2023 Jun 2023 | 2024 Jun 2024 | 2025 Jun 2025 | 2026 Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||||||
| Revenue | 35 | 42 | 24 | 7 | 6 | 3 | 4 | 22 | 25 | 15 | 11 | 11 | 14 |
| Gross profit | — | — | — | — | — | — | — | — | — | — | — | −1 | 4 |
| EBITDA | — | — | 3 | −1 | −2 | −3 | −2 | 9 | 11 | 3 | −1 | −3 | −1 |
| Operating income | — | 11 | 3 | −1 | −2 | −3 | −2 | 8 | 11 | 4 | −0 | −3 | −1 |
| Net income | 5 | 8 | 2 | −1 | 1 | −3 | −5 | 32 | 3 | 3 | 1 | −0 | 3 |
| Diluted EPS | $0.35 | $0.51 | $0.10 | −$0.03 | $0.04 | −$0.22 | −$0.31 | $2.12 | $0.23 | $0.22 | $0.09 | −$0.03 | $0.24 |
| Growth (year on year) | |||||||||||||
| Revenue | — | +19.7% | −43.1% | −71.6% | −7.4% | −44.8% | +29.4% | +383.8% | +14.1% | −39.0% | −27.1% | −1.3% | +32.8% |
| EBITDA | — | — | — | −119.9% | — | — | — | — | +25.2% | −69.3% | −118.9% | — | — |
| Operating income | — | — | −74.2% | −130.8% | — | — | — | — | +36.1% | −68.3% | −113.6% | — | — |
| Net income | — | +46.4% | −80.5% | −133.5% | — | −623.6% | — | — | −89.2% | −8.5% | −57.7% | −125.1% | — |
| Diluted EPS | — | +45.7% | −80.4% | −130.0% | — | −650.0% | — | — | −89.2% | −4.3% | −59.1% | −133.3% | — |
| Margins | |||||||||||||
| Gross margin | — | — | — | — | — | — | — | — | — | — | — | −4.9% | 25.0% |
| EBITDA margin | — | — | 13.1% | −9.2% | −32.7% | −73.5% | −49.2% | 39.4% | 43.3% | 21.8% | −5.6% | −28.6% | −4.1% |
| Operating margin | — | 26.3% | 11.9% | −12.9% | −36.5% | −79.7% | −53.7% | 37.7% | 45.0% | 23.4% | −4.4% | −27.5% | −4.2% |
| Net margin | 15.3% | 18.7% | 6.4% | −7.6% | 10.3% | −97.9% | −104.6% | 147.6% | 13.9% | 20.9% | 12.1% | −3.1% | 21.2% |
| Free-cash-flow margin | 20.2% | 18.2% | 7.5% | 10.2% | −0.5% | −31.1% | −43.6% | 21.7% | 41.7% | 19.2% | 7.1% | −7.6% | 4.7% |
| Cash flow | |||||||||||||
| Cash from operations | 8 | 8 | 2 | 1 | −0 | −1 | −2 | 5 | 11 | 3 | 1 | −1 | 1 |
| Capital spending | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 7 | 8 | 2 | 1 | −0 | −1 | −2 | 5 | 10 | 3 | 1 | −1 | 1 |
| Stock-based pay | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Free cash flow after stock pay | 7 | 8 | 2 | 1 | −0 | −1 | −2 | 5 | 10 | 3 | 1 | −1 | 1 |
| Balance sheet | |||||||||||||
| Cash | 24 | 27 | 21 | 4 | 6 | 1 | 2 | 14 | 22 | 25 | 27 | 25 | 24 |
| Total debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt (negative = net cash) | −24 | −27 | −21 | −4 | −6 | −1 | −1 | −14 | −22 | −25 | −27 | −24 | −24 |
| Diluted shares | 15m | 15m | 15m | 15m | 15m | 15m | 15m | 15m | 15m | 15m | 14m | 13m | 13m |
| Returned to shareholders | |||||||||||||
| Dividends | 4 | 4 | 4 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Buybacks | — | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 2 |
| Total returned | 4 | 4 | 4 | 1 | 1 | 0 | 1 | 1 | 2 | 3 | 3 | 3 | 3 |
| Quarter | 2025 Q1 Sept 2024 | 2025 Q2 Dec 2024 | 2025 Q3 Mar 2025 | 2025 Q4 Jun 2025 | 2026 Q1 Sept 2025 | 2026 Q2 Dec 2025 | 2026 Q3 Mar 2026 | 2026 Q4 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 2,157 | 2,231 | 2,103 | 4,353 | 2,251 | 2,510 | 2,762 | 6,875 |
| EBITDA | −597 | −523 | −882 | −1,014 | −524 | −77 | 98 | −78 |
| Operating income | −559 | −539 | −893 | −996 | −515 | −88 | 88 | −88 |
| Net income | 315 | −86 | −382 | −181 | 1,507 | −846 | 2,677 | −283 |
| Diluted EPS | $0.02 | −$0.01 | −$0.03 | −$0.02 | $0.12 | −$0.07 | $0.21 | −$0.02 |
| Growth (year on year) | ||||||||
| Revenue | −31.2% | −20.8% | −18.9% | +78.4% | +4.4% | +12.5% | +31.3% | +57.9% |
| EBITDA | −437.3% | −305.9% | — | — | — | — | — | — |
| Operating income | −360.0% | −380.7% | — | — | — | — | — | — |
| Net income | — | −107.0% | — | −157.5% | +378.4% | — | — | — |
| Diluted EPS | — | −111.1% | — | −200.0% | +500.0% | — | — | — |
| Margins | ||||||||
| EBITDA margin | −27.7% | −23.4% | −41.9% | −23.3% | −23.3% | −3.1% | 3.5% | −1.1% |
| Operating margin | −25.9% | −24.2% | −42.5% | −22.9% | −22.9% | −3.5% | 3.2% | −1.3% |
| Net margin | 14.6% | −3.9% | −18.2% | −4.2% | 66.9% | −33.7% | 96.9% | −4.1% |
| Free-cash-flow margin | 0.7% | −18.2% | −20.2% | −0.3% | — | — | 10.0% | 3.0% |
| Cash flow | ||||||||
| Cash from operations | 16 | −399 | −425 | −14 | −32 | 256 | 295 | 223 |
| Capital spending | 0 | 7 | −1 | 1 | — | — | 20 | 20 |
| Free cash flow | 16 | −406 | −424 | −15 | — | — | 275 | 203 |
| Stock-based pay | 0 | 11 | 58 | 56 | 9 | 0 | 0 | 0 |
| Free cash flow after stock pay | 16 | −417 | −482 | −71 | — | — | 275 | 203 |
| Last 12 months unless stated | GROW | DFDV | GEG | NAKA | TONX | VALU | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $14m | $15m | $28m | $28m | $30m | $33m | $858m |
| Revenue growth, last 12 months | 32.8% | 328.6% | 70.2% | >999% | 592.3% | −5.5% | 17.2% |
| Revenue growth, 3-year average | −1.5% | 94.4% | 3.0% | — | 163.9% | −5.9% | 10.2% |
| Revenue growth, latest quarter | 57.9% | 66.9% | 88.3% | >999% | 607.4% | −6.4% | 14.4% |
| Gross margin | — | 97.8% | — | — | 83.1% | — | 80.2% |
| Operating margin | −4.2% | −866.5% | −50.4% | <−999% | −115.6% | 10.8% | 25.8% |
| Operating margin, 3-year average | −12.0% | −233.9% | −47.8% | −664.9% | <−999% | 16.5% | 18.8% |
| Net margin | 21.2% | <−999% | −127.6% | <−999% | −532.8% | 60.3% | 15.2% |
| Cash from operations / revenue | 5.2% | −198.9% | 56.4% | −169.5% | −94.7% | 53.9% | 26.4% |
| Free-cash-flow margin | 5.2% | −198.9% | 51.8% | −169.5% | −94.8% | 55.6% | 21.9% |
| Free-cash-flow margin, 3-year average | 1.5% | −149.5% | −34.8% | −140.9% | <−999% | 53.5% | 17.6% |
| Stock pay / revenue | 0.1% | 20.6% | 8.2% | 20.2% | 78.4% | — | 3.7% |
| Change in share count | −4.9% | — | 19.8% | 937.0% | >999% | −0.3% | −0.2% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 32.8% | 17.2% | 14 of 43 |
| Change in growth rate Growth | -0.2pp | +1.0pp | 30 of 43 |
| Operating margin Profitability | -4.2% | 23.7% | 20 of 27 |
| Net margin Profitability | 21.2% | 15.2% | 20 of 43 |
| Stock pay as % of revenue Cash generation | 0.1% | 4.3% | 4 of 40 |
| Change in share count Balance sheet | -4.9% | -0.3% | 5 of 33 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Line of business | Revenue | YoY |
|---|---|---|
| Investment Management Services | $10.3M | ▲ 21.3% |
| Corporate Investments | $0 | — |
These categories overlap or exclude eliminations, so shares aren't shown.
| Line of business | Revenue | YoY |
|---|---|---|
| Investment Advisory Services | $10M | ▲ 20.5% |
| Investment and Advisory Services | $10M | ▲ 20.5% |
| Administrative Service | $219,000 | ▲ 72.4% |
These categories overlap or exclude eliminations, so shares aren't shown.
From U S Global Investors Inc's 10-K filed September 3, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Gator Capital Management, LLC | $3.5M | 1.1M | 26.7% | ▲ 7.7% |
| Cwa Asset Management Group, LLC | $2.2M | 707K | 16.9% | ▲ 12.3% |
| Vanguard Capital Management LLC | $1.6M | 508K | 12.1% | ▼ 1.7% |
| North Star Investment Management Corp. | $1.3M | 406K | 9.7% | 0.0% |
| Blackrock, Inc. | $961,896 | 308K | 7.4% | 0.0% |
| Renaissance Technologies LLC | $636,527 | 204K | 4.9% | ▲ 5.9% |
| Geode Capital Management, LLC | $410,336 | 131K | 3.1% | ▲ 13.9% |
| Rothschild Wealth LLC | $380,530 | 122K | 2.9% | ▼ 0.8% |
| Citadel Advisors LLC | $352,782 | 113K | 2.7% | ▲ 147.7% |
| Susquehanna International Group, LLP | $255,706 | 82K | 2.0% | ▲ 22.6% |
| Dimensional Fund Advisors LP | $207,808 | 67K | 1.6% | ▲ 13.5% |
| Vanguard Fiduciary Trust Co | $188,058 | 60K | 1.4% | ▲ 0.7% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not U S Global Investors Inc's complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Pilecki Derek Steven 10% owner | October 23, 2026 | Buy | 4,532 | $2.58 | $11,692 |
| Gator Capital Management, Llc 10% owner | October 23, 2026 | Buy | 4,532 | $2.58 | $11,692 |
| Pilecki Derek Steven 10% owner | October 20, 2026 | Buy | 2,886 | $2.57 | $7,417 |
| Gator Capital Management, Llc 10% owner | October 20, 2026 | Buy | 2,886 | $2.57 | $7,417 |
| Gator Capital Management, Llc 10% owner | June 3, 2026 | Buy | 330 | $2.60 | $858 |
| Pilecki Derek Steven 10% owner | June 3, 2026 | Buy | 330 | $2.60 | $858 |
| Gator Capital Management, Llc 10% owner | June 2, 2026 | Buy | 20,496 | $2.59 | $53,085 |
| Pilecki Derek Steven 10% owner | June 2, 2026 | Buy | 20,496 | $2.59 | $53,085 |
| Pilecki Derek Steven 10% owner | May 28, 2026 | Buy | 1,376 | $2.60 | $3,578 |
| Gator Capital Management, Llc 10% owner | May 28, 2026 | Buy | 1,376 | $2.60 | $3,578 |
| Pilecki Derek Steven 10% owner | May 21, 2026 | Buy | 23,910 | $2.55 | $60,970 |
| Gator Capital Management, Llc 10% owner | May 21, 2026 | Buy | 23,910 | $2.55 | $60,970 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around November 30, 2026 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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