OUNZ · CIK 0001546652
VANECK MERK GOLD ETF
Annual figures as reported, FY2015–FY2026. Ratios and growth rates derived on-page.
Commodity Contracts Brokers & Dealers
Company profile
Net income
$1.1B
▲ +249.0% vs FY2025
Total assets
$2.9B
▲ +118.6% vs FY2025
Net income
Losses shown in terracotta
Recent quarters
momentum · last 12 quartersNet income — Apr ’26 quarter
−$139.3M
▼ −158.5% vs Apr ’25
Quarterly net income
Losses shown in terracotta
| Quarter | Revenue | Rev. YoY | Gross margin | Net income | Net margin | Diluted EPS |
|---|---|---|---|---|---|---|
| Apr ’26 | — | — | — | −$139.3M | — | — |
| Jan ’26 | — | — | — | $471.8M | — | — |
| Oct ’25 | — | — | — | $388.0M | — | — |
| Jul ’25 | — | — | — | −$4.8M | — | — |
| Apr ’25 | — | — | — | $238.0M | — | — |
| Jan ’25 | — | — | — | $24.1M | — | — |
| Oct ’24 | — | — | — | $127.9M | — | — |
| Jul ’24 | — | — | — | $63.7M | — | — |
Profitability & returns
quality of earningsReturns on capital
Net income vs year-end equity and assets
Return on equityReturn on assets
Balance sheet
financial positionStockholders’ equity
At fiscal year end
Growth rates
compounding, annualizedNet income CAGR
+225.8%
3y
+94.4%
5y
Key ratios
derived per fiscal year| Fiscal year | ROE | ROA |
|---|---|---|
| FY2026 | 37.6% | 37.6% |
| FY2025 | 23.8% | 23.6% |
| FY2024 | 4.9% | 4.8% |
| FY2023 | — | 4.8% |
| FY2022 | — | −3.1% |
| FY2021 | — | 8.7% |
| FY2020 | — | 15.3% |
| FY2019 | — | −1.5% |
| FY2018 | — | 9.6% |
| FY2017 | — | 2.8% |
| FY2016 | — | −9.5% |
| FY2015 | — | — |
Annual figures
as reported| Fiscal year | Revenue | Gross profit | Op. income | Net income | Diluted EPS | Op. cash flow | Capex | Total assets | Liabilities | Equity | Cash | LT debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY2026 | — | — | — | $1.1B | — | — | — | $2.9B | $108K | $2.9B | — | — |
| FY2025 | — | — | — | $313.1M | — | — | — | $1.3B | $13.8M | $1.3B | — | — |
| FY2024 | — | — | — | $37.9M | — | — | — | $786.1M | $5.9M | $780.2M | — | — |
| FY2023 | — | — | — | $31.6M | — | — | — | $660.3M | $3.7M | — | — | — |
| FY2022 | — | — | — | −$18.2M | — | — | — | $586.2M | $6 | — | — | — |
| FY2021 | — | — | — | $39.3M | — | — | — | $450.0M | $7.5M | — | — | — |
| FY2020 | — | — | — | $30.4M | — | — | — | $198.5M | $9 | — | — | — |
| FY2019 | — | — | — | −$2.3M | — | — | — | $154.2M | $2 | — | — | — |
| FY2018 | — | — | — | $13.7M | — | — | — | $142.2M | $12 | — | — | — |
| FY2017 | — | — | — | $3.5M | — | — | — | $123.4M | $3 | — | — | — |
| FY2016 | — | — | — | −$7.9M | — | — | — | $83.7M | $2 | — | — | — |
| FY2015 | — | — | — | — | — | — | — | $64.8M | $21K | — | — | — |
Latest filings
the most recent regulatory filingsFWPFREE WRITING PROSPECTUS2026-06-15 ↗10-QQUARTERLY REPORT2026-06-04 ↗FWPFREE WRITING PROSPECTUS2026-06-03 ↗FWPFREE WRITING PROSPECTUS2026-05-26 ↗FWPFREE WRITING PROSPECTUS2026-05-08 ↗FWPFREE WRITING PROSPECTUS2026-05-07 ↗FWPFREE WRITING PROSPECTUS2026-04-30 ↗FWPFREE WRITING PROSPECTUS2026-04-30 ↗FWPFREE WRITING PROSPECTUS2026-04-28 ↗424IPROSPECTUS2026-03-30 ↗
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