Marygold Companies (MGLD)
Market Price (8/6/2026): $1.07 | Market Cap: $46.0 MilSector: Financials | Industry: Asset Management & Custody Banks
Marygold Companies (MGLD)
Market Price (8/6/2026): $1.07Market Cap: $46.0 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -23% | Weak multi-year price returns2Y Excs Rtn is -50%, 3Y Excs Rtn is -73% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9.1% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.1% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -8.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.8% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.1% High stock price volatilityVol 12M is 101% Key risksMGLD key risks include [1] sustained financial underperformance and inefficient capital allocation, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -23% |
| Weak multi-year price returns2Y Excs Rtn is -50%, 3Y Excs Rtn is -73% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -3.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9.1% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.1% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -8.7%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -8.8% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.1% |
| High stock price volatilityVol 12M is 101% |
| Key risksMGLD key risks include [1] sustained financial underperformance and inefficient capital allocation, Show more. |
Qualitative Assessment
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Updated on 8/4/2026
Marygold Companies (MGLD) stock has gained about 5% since 4/30/2026 because of the following key factors:
1. Marygold Companies (MGLD) returned to profitability in its fiscal Q3 2026, which ended March 31, 2026, reporting a net income of $222,000, or $0.01 per share, compared to a net loss of $1.0 million, or $0.02 per share, in the prior year's comparable quarter. This positive shift in earnings, announced on May 11, 2026, within the specified period, likely contributed to stabilizing the stock price.
2. The company's USCF Fund Management segment demonstrated significant growth in fiscal Q3 2026 (ended March 31, 2026), with revenue increasing 55% to $6.3 million and average assets under management (AUM) rising 81% to $4.7 billion. This strong performance was primarily attributed to macroeconomic factors, including increased oil and other commodity prices driven by geopolitical situations in the Middle East and Eastern Europe, providing a substantial positive influence on overall company results.
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Marygold Companies (MGLD) stock has gained about 5% since 4/30/2026 because of the following key factors:
1. Marygold Companies (MGLD) returned to profitability in its fiscal Q3 2026, which ended March 31, 2026, reporting a net income of $222,000, or $0.01 per share, compared to a net loss of $1.0 million, or $0.02 per share, in the prior year's comparable quarter. This positive shift in earnings, announced on May 11, 2026, within the specified period, likely contributed to stabilizing the stock price.
2. The company's USCF Fund Management segment demonstrated significant growth in fiscal Q3 2026 (ended March 31, 2026), with revenue increasing 55% to $6.3 million and average assets under management (AUM) rising 81% to $4.7 billion. This strong performance was primarily attributed to macroeconomic factors, including increased oil and other commodity prices driven by geopolitical situations in the Middle East and Eastern Europe, providing a substantial positive influence on overall company results.
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Updated on 8/4/2026
Marygold Companies (MGLD) stock has gained about 5% since 4/30/2026 because of the following key factors:
1. Marygold Companies (MGLD) returned to profitability in its fiscal Q3 2026, which ended March 31, 2026, reporting a net income of $222,000, or $0.01 per share, compared to a net loss of $1.0 million, or $0.02 per share, in the prior year's comparable quarter. This positive shift in earnings, announced on May 11, 2026, within the specified period, likely contributed to stabilizing the stock price.
2. The company's USCF Fund Management segment demonstrated significant growth in fiscal Q3 2026 (ended March 31, 2026), with revenue increasing 55% to $6.3 million and average assets under management (AUM) rising 81% to $4.7 billion. This strong performance was primarily attributed to macroeconomic factors, including increased oil and other commodity prices driven by geopolitical situations in the Middle East and Eastern Europe, providing a substantial positive influence on overall company results.
3. Marygold Companies' strategic curtailment of expenses, particularly the halt in marketing for its U.S. fintech app subsidiary as of March 31, 2025 (fiscal Q3 2025), was expected to generate approximately $4 million in annualized savings. This ongoing cost reduction strategy, which positively impacted financial efficiency and the balance sheet, continued to support a more stable financial outlook for the company during the specified period.
4. The company bolstered its financial stability by retiring all outstanding debt. This was achieved by utilizing the $2.3 million in proceeds from the sale of its Canadian subsidiary, Brigadier Security Systems Ltd., in July 2025, which also resulted in a $0.5 million gain. This debt elimination would have reduced financial risk and improved the balance sheet, contributing to investor confidence during the period.
Show less
Marygold Companies (MGLD) stock has gained about 5% since 4/30/2026 because of the following key factors:
1. Marygold Companies (MGLD) returned to profitability in its fiscal Q3 2026, which ended March 31, 2026, reporting a net income of $222,000, or $0.01 per share, compared to a net loss of $1.0 million, or $0.02 per share, in the prior year's comparable quarter. This positive shift in earnings, announced on May 11, 2026, within the specified period, likely contributed to stabilizing the stock price.
2. The company's USCF Fund Management segment demonstrated significant growth in fiscal Q3 2026 (ended March 31, 2026), with revenue increasing 55% to $6.3 million and average assets under management (AUM) rising 81% to $4.7 billion. This strong performance was primarily attributed to macroeconomic factors, including increased oil and other commodity prices driven by geopolitical situations in the Middle East and Eastern Europe, providing a substantial positive influence on overall company results.
3. Marygold Companies' strategic curtailment of expenses, particularly the halt in marketing for its U.S. fintech app subsidiary as of March 31, 2025 (fiscal Q3 2025), was expected to generate approximately $4 million in annualized savings. This ongoing cost reduction strategy, which positively impacted financial efficiency and the balance sheet, continued to support a more stable financial outlook for the company during the specified period.
4. The company bolstered its financial stability by retiring all outstanding debt. This was achieved by utilizing the $2.3 million in proceeds from the sale of its Canadian subsidiary, Brigadier Security Systems Ltd., in July 2025, which also resulted in a $0.5 million gain. This debt elimination would have reduced financial risk and improved the balance sheet, contributing to investor confidence during the period.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 5.0% change in MGLD stock from 4/30/2026 to 8/5/2026 was primarily driven by a 5.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302026 | 8052026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.01 | 1.06 | 5.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 32 | 34 | 5.2% |
| P/S Multiple | 1.3 | 1.3 | 0.0% |
| Shares Outstanding (Mil) | 43 | 43 | -0.2% |
| Cumulative Contribution | 5.0% |
Market Drivers
4/30/2026 to 8/5/2026| Return | Correlation | |
|---|---|---|
| MGLD | 5.0% | |
| Market (SPY) | 7.1% | -1.2% |
| Sector (XLF) | 11.3% | 2.1% |
Fundamental Drivers
The -11.7% change in MGLD stock from 1/31/2026 to 8/5/2026 was primarily driven by a -15.1% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8052026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.20 | 1.06 | -11.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 33 | 34 | 4.0% |
| P/S Multiple | 1.6 | 1.3 | -15.1% |
| Shares Outstanding (Mil) | 43 | 43 | 0.0% |
| Cumulative Contribution | -11.7% |
Market Drivers
1/31/2026 to 8/5/2026| Return | Correlation | |
|---|---|---|
| MGLD | -11.7% | |
| Market (SPY) | 11.5% | -10.1% |
| Sector (XLF) | 9.1% | 6.6% |
Fundamental Drivers
The 27.3% change in MGLD stock from 7/31/2025 to 8/5/2026 was primarily driven by a 16.9% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8052026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.83 | 1.06 | 27.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 30 | 34 | 14.6% |
| P/S Multiple | 1.1 | 1.3 | 16.9% |
| Shares Outstanding (Mil) | 41 | 43 | -5.0% |
| Cumulative Contribution | 27.3% |
Market Drivers
7/31/2025 to 8/5/2026| Return | Correlation | |
|---|---|---|
| MGLD | 27.3% | |
| Market (SPY) | 22.8% | -0.3% |
| Sector (XLF) | 12.1% | 10.5% |
Fundamental Drivers
The -4.5% change in MGLD stock from 7/31/2023 to 8/5/2026 was primarily driven by a -6.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312023 | 8052026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.11 | 1.06 | -4.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 36 | 34 | -5.1% |
| P/S Multiple | 1.2 | 1.3 | 7.1% |
| Shares Outstanding (Mil) | 40 | 43 | -6.0% |
| Cumulative Contribution | -4.5% |
Market Drivers
7/31/2023 to 8/5/2026| Return | Correlation | |
|---|---|---|
| MGLD | -4.5% | |
| Market (SPY) | 74.1% | 2.9% |
| Sector (XLF) | 71.5% | 5.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MGLD Return | 0% | 94% | -29% | 66% | -50% | 17% | 33% |
| Peers Return | 10% | -9% | 44% | 37% | -4% | 36% | 158% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| MGLD Win Rate | 0% | 42% | 33% | 67% | 33% | 50% | |
| Peers Win Rate | 48% | 43% | 57% | 57% | 48% | 65% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MGLD Max Drawdown | 0% | -75% | -47% | -36% | -65% | -25% | |
| Peers Max Drawdown | -21% | -43% | -35% | -31% | -43% | -27% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IVZ, WT, ELF, HNST, BLK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/5/2026 (YTD)
How Low Can It Go
| Event | MGLD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.6% | -18.8% |
| % Gain to Breakeven | 30.9% | 23.1% |
| Time to Breakeven | 7 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -19.5% | -7.8% |
| % Gain to Breakeven | 24.3% | 8.5% |
| Time to Breakeven | 3 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -45.4% | -6.7% |
| % Gain to Breakeven | 83.2% | 7.1% |
| Time to Breakeven | 533 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -60.2% | -33.7% |
| % Gain to Breakeven | 151.0% | 50.9% |
| Time to Breakeven | 717 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -33.3% | -0.2% |
| % Gain to Breakeven | 50.0% | 0.2% |
| Time to Breakeven | 25 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -66.7% | -17.9% |
| % Gain to Breakeven | 200.0% | 21.8% |
| Time to Breakeven | 10 days | 123 days |
In The Past
Marygold Companies's stock fell -23.6% during the 2025 US Tariff Shock. Such a loss loss requires a 30.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | MGLD | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.6% | -18.8% |
| % Gain to Breakeven | 30.9% | 23.1% |
| Time to Breakeven | 7 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -45.4% | -6.7% |
| % Gain to Breakeven | 83.2% | 7.1% |
| Time to Breakeven | 533 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -60.2% | -33.7% |
| % Gain to Breakeven | 151.0% | 50.9% |
| Time to Breakeven | 717 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -33.3% | -0.2% |
| % Gain to Breakeven | 50.0% | 0.2% |
| Time to Breakeven | 25 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -66.7% | -17.9% |
| % Gain to Breakeven | 200.0% | 21.8% |
| Time to Breakeven | 10 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -48.3% | -15.4% |
| % Gain to Breakeven | 93.3% | 18.2% |
| Time to Breakeven | 4 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -90.0% | -53.4% |
| % Gain to Breakeven | 900.0% | 114.4% |
| Time to Breakeven | 538 days | 1085 days |
In The Past
Marygold Companies's stock fell -23.6% during the 2025 US Tariff Shock. Such a loss loss requires a 30.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Marygold Companies (MGLD)
The Marygold Companies Inc. (MGLD) is a diversified holding company operating across a wide range of industries in the United States, New Zealand, Australia, and Canada. Its primary business segments include investment fund management, the formulation and wholesale distribution of beauty products, the manufacturing and distribution of food products, and the sale and installation of security alarm systems. The company also has an emerging venture in developing a Fintech software application designed to enhance mobile banking experiences.
Specifically, Marygold Companies acts as an investment advisor to various exchange-traded funds and products. In its beauty segment, under the Original Sprout brand, it distributes hair and skin care products to a diverse customer base including salons, resorts, grocery stores, health food stores, and online retailers. The food division produces and distributes meat pies and related bakery confections primarily to groceries, convenience stores, and independent retailers, while also providing specialty wrapper printing services for the food industry. Lastly, through its Brigadier Security Systems and Elite Security brands, Marygold offers commercial and residential alarm monitoring systems, serving both business and individual clients.
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A tiny Berkshire Hathaway, but for financial services, beauty products, and food.
A small-scale IAC, but acquiring traditional businesses like food, beauty, and security instead of internet brands.
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- Investment Fund Management: Provides investment advisory services for exchange-traded funds and other investment products.
- Food Products: Manufactures and distributes meat pies and related bakery confections.
- Specialty Food Packaging: Prints specialty wrappers for the food industry.
- Security Alarm Systems: Sells and installs commercial and residential alarm monitoring systems.
- Beauty Products: Formulates and distributes hair and skin care products under the Original Sprout brand.
- Fintech Software: Develops a software application to enhance mobile banking experiences.
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The Marygold Companies Inc. (MGLD) primarily sells to other companies. While specific customer names are not provided in the company description, its major customers fall into the following categories:
- Retail and Distribution Businesses: This broad category encompasses entities such as groceries, gasoline convenience stores, independent retailers, salons, resorts, health food stores, e-tail sites, and online shopping carts. These customers distribute Marygold's meat pies, related bakery confections, and Original Sprout brand hair and skin care products.
- Commercial and Residential Clients: For its security alarm systems business (Brigadier Security Systems and Elite Security), Marygold serves both businesses and individual homeowners who require installation and monitoring services.
- Financial Investment Vehicles: As an investment advisor, Marygold's clients include Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) organized as limited partnerships or investment trusts.
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Nicholas D. Gerber, Chairman of the Board, President and Chief Executive Officer
Nicholas D. Gerber was appointed CEO of Marygold Companies in January 2015 and has served as Chairman of the Board and President. He directly owns a significant portion of the company's shares and has consistently invested in the company through stock acquisitions. Marygold Companies, formerly Concierge Technologies, Inc., changed its name in March 2022 and operates as a holding company with a focus on financial services and ETF management.
Stuart Crumbaugh, Chief Financial Officer
Stuart Crumbaugh has served as Marygold Companies' Chief Financial Officer since 2017. Prior to this role, he held senior financial management positions at USCF Investments, Marygold's largest subsidiary, starting in 2015. His previous experience includes serving as Vice President of Finance and CFO for Sikka Software Corporation. Mr. Crumbaugh has also worked as a consultant with Connor Group, where he provided services related to IPO readiness, mergers and acquisitions, and other financial services to early-stage companies. He is a Certified Public Accountant (inactive) and holds a Bachelor of Arts degree in accounting and business administration from Michigan State University.
David W. Neibert, Chief Operations Officer and Secretary
David W. Neibert is the Chief Operations Officer and Secretary of Marygold Companies, and also serves as a Director of the company and Marygold & Co. (UK) Limited. He has been a director of the company since 2002. Mr. Neibert has been actively involved in the company's strategic initiatives, including efforts to reduce costs and eliminate debt, and focusing growth on financial services.
Carolyn M. Yu, Chief Legal Officer and Chief Continuity Officer
Carolyn M. Yu holds the titles of Chief Legal Officer and Chief Continuity Officer at Marygold Companies.
Scott A. West, Chief Accounting Officer
Scott A. West serves as the Chief Accounting Officer for Marygold Companies.
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The Marygold Companies Inc. (MGLD) faces several key risks, primarily centered on its financial performance and the challenges inherent in its diverse business portfolio.
- Financial Inefficiency and Sustained Losses: Marygold Companies has demonstrated significant financial challenges, including a negative Return on Invested Capital (ROIC) of -21.40% compared to a Weighted Average Cost of Capital (WACC) of 7.47% as of February 24, 2025, indicating inefficiency in generating returns on investments. The company has reported sustained net losses in recent fiscal quarters, with a net loss of $0.4 million for the first fiscal quarter ended September 30, 2025, and $0.6 million for the second fiscal quarter ended December 31, 2025. InvestingPro has rated the company's financial health as "WEAK."
- Stock Volatility and Low Trading Volume: MGLD's stock is characterized by high risk due to significant daily price movements (volatility) and periods of low trading volume. This low liquidity can increase the general risk for investors.
- Execution Risk in Diverse and Competitive Markets, particularly Fintech Development: While operating across various sectors such as investment fund management, beauty products, food products, and security alarm systems offers diversification, it also exposes the company to multiple competitive and rapidly changing environments. A specific area of risk relates to the development of its Fintech software application, where significant investments have contributed to net losses. The company has also paused marketing efforts for its fintech app in the U.S. to reduce expenses, highlighting the challenges in successfully commercializing this venture.
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The clear emerging threat for The Marygold Companies Inc. is the rise of Do-It-Yourself (DIY) smart home security systems and integrated smart home platforms. These affordable, user-installable systems, offered by companies like Ring, SimpliSafe, and Google Nest, provide consumers with lower upfront costs, often reduced or no monthly monitoring fees (through self-monitoring options), and greater control over their security setups. This trend directly threatens Marygold's traditional business model of selling and installing commercial and residential alarm monitoring systems under the Brigadier Security Systems and Elite Security names, by offering a convenient and cost-effective alternative to professionally installed and monitored solutions, particularly in the residential market.
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Marygold Companies (MGLD) operates in several distinct markets. The addressable markets for its main products and services vary by region and are sized as follows:
Investment Fund Management
- The global asset management market was valued at USD 432.77 billion in 2025 and is projected to grow to USD 1,122.04 billion by 2034. Other estimates place the global market at USD 469 billion in 2024, projected to reach USD 6 trillion by 2034, or USD 458.02 billion in 2023, expected to reach USD 3,677.39 billion by 2030.
- In the United States, the asset management market was estimated at USD 184.89 billion in 2025 and is projected to reach USD 211.48 billion by 2026. Another report indicates the U.S. asset management market generated USD 115,630.9 million in 2023 and is expected to reach USD 849,248.5 million by 2030. The U.S. mutual funds market alone was valued at USD 34.58 trillion in 2024.
Beauty Products (Hair and Skin Care Products under Original Sprout Brand)
- The global beauty and personal care products market size was estimated at USD 557.24 billion in 2023 and is projected to reach USD 937.13 billion by 2030. Other estimates for the global beauty and personal care products market include USD 512.34 billion in 2023, expected to reach USD 751.60 billion in 2032, or USD 561.4 billion in 2024, projected to USD 826.96 billion by 2033.
- The global cosmetics market was valued at USD 354.68 billion in 2025 and is projected to grow to USD 644.17 billion by 2034. The United States cosmetics market was approximately USD 80 billion in 2023.
Food Products (Meat Pies, Related Bakery Confections, and Specialty Wrappers)
- For **meat pies** in Australia and New Zealand, quantitative market value data in currency is not readily available. However, Australians consume an average of 12 meat pies per year, totaling approximately 270 million pies annually. New Zealanders consume even more, averaging 15 pies per year, which equates to 66 million pies annually.
- The global **bakery products** market size was valued at USD 495.6 billion in 2023 and is projected to reach USD 714.1 billion by 2030.
- In North America, the bakery products market size is projected to rise from US$95.2 billion in 2025 to US$140.8 billion by 2032. Another estimate puts the North American bakery product market size at USD 107.31 billion in 2024, projected to reach USD 174.79 billion by 2033. The U.S. baked goods retail sales reached US$82.9 billion in 2022 and are expected to reach US$97.7 billion in 2026. The U.S. in-store bakery market is currently valued at $22.6 billion.
- The global **food packaging** market (which includes specialty wrappers) was estimated at USD 421.60 billion in 2025 and is projected to reach USD 598.98 billion by 2033. Other sources suggest the global food packaging market size will grow from USD 451.76 billion in 2026 to USD 744.02 billion by 2035, or from USD 421.60 billion in 2025 to approximately USD 756 billion by 2035.
Security Alarm Systems
- The global security alarms market was estimated at US$9.1 billion in 2024 and is expected to reach US$15.4 billion by 2030. The global burglar alarm systems market was valued at USD 3.95 billion in 2021 and is predicted to reach USD 7.09 billion by 2030.
- In the United States, the Security Alarm Services market size was $37.7 billion in 2024 and is projected to be $38.6 billion in 2025. The U.S. home security systems market is predicted to reach USD 31.89 billion by 2035.
- The Canada smart home security market generated a revenue of USD 1,664.5 million in 2024 and is expected to reach USD 4,001.9 million by 2030. Another estimate for the Canada smart home security market size was USD 1.93 billion in 2024, and it is anticipated to reach USD 7.49 billion by 2035. Canada's electronic security system market was worth more than USD 1.6 billion in 2024.
Fintech Software Application (Enhanced Mobile Banking Experience)
- The global fintech market was valued at USD 394.88 billion in 2025 and is projected to reach USD 1,760.18 billion by 2034. Another source indicates the global fintech market size was valued at USD 253.4 billion in 2025 and is estimated to reach USD 938.7 billion by 2034.
- North America's fintech market was USD 127.52 billion in 2025, with the U.S. market projected to reach USD 99.82 billion by 2026.
- The global mobile banking software solution market size was recorded at $8,144.3 million (USD 8.14 billion) by the end of 2025 and is projected to become $17,945.1 million (USD 17.95 billion) by 2033.
- The global mobile banking market size was valued at USD 1.43 billion in 2024 and is projected to grow from USD 1.58 billion in 2025 to USD 3.66 billion by 2032. Another source states the mobile banking market size was valued at USD 9.63 billion in 2024 and is poised to grow to USD 26.07 billion by 2033. The global market for Mobile Digital Banking was estimated to be worth US$ 1,500 million (USD 1.5 billion) in 2025 and is projected to reach US$ 3,938 million (USD 3.94 billion) by 2032.
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Here are 3-5 expected drivers of future revenue growth for Marygold Companies (MGLD) over the next 2-3 years:
- Expansion and Marketing of the Fintech App (Marygold & Co.): The company's mobile fintech application, Marygold & Co., is a significant driver of future revenue. The app was soft-launched in the U.S. in 2023, with plans for further U.S. market penetration. More importantly, it launched in the U.K. in March 2025 through its Marygold & Co. (UK) subsidiary, leveraging recently acquired U.K.-based investment advisory firms for marketing and client acquisition. The company has secured funding specifically for the next-stage rollout and initial marketing initiatives for this fintech product, which is positioned as a digital platform alternative to traditional banking. Management has explicitly stated a focus on the mobile fintech app in the U.K. as a growth area.
- Launch and Growth of New Exchange-Traded Products (USCF Investments): Marygold Companies' wholly owned subsidiary, USCF Investments, is expanding its offerings in the financial services sector. A key revenue driver is the December 2025 launch of the USCF Oil Plus Bitcoin Strategy Fund (NYSE Arca: WTIB), marking USCF's first cryptocurrency product and diversifying Marygold's exchange-traded products lineup. This launch is part of the company's broader strategy to expand its financial services footprint and provide diversified solutions to investors.
- Strategic Focus and Portfolio Refinement towards Financial Services: Marygold Companies is undergoing a strategic shift to concentrate its resources and future growth on the financial services sector. This focus is being achieved by divesting non-core assets, such as the sale of its Canadian subsidiary, Brigadier Security Systems, which allows the company to direct its efforts and capital toward innovative ETFs, investment advisory services, and the fintech app. This refinement is expected to lead to more profitable operations and enhance shareholder value.
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Here is a summary of Marygold Companies' capital allocation decisions over the last 3-5 years:
Share Issuance
- The Marygold Companies, Inc. closed an underwritten public offering in January 2025. Specific financial details of this offering are not available in the provided search results.
- As of September 20, 2023, the company had 39,383,459 shares of Common Stock and 49,360 shares of Series B Convertible, Voting, Preferred Stock outstanding.
Outbound Investments
- In July 2025, Marygold Companies sold its wholly-owned Canadian subsidiary, Brigadier Security Systems, for $2.5 million, resulting in a $0.5 million gain.
- In May 2024, the company's UK subsidiary, Marygold & Co. (UK) Limited, acquired Step-By-Step Financial Planners Limited (SBS), an investment advisory firm with approximately US$33.7 million (£27 million) in assets under management. The terms of this transaction were not disclosed.
- Marygold & Co. (UK) Limited also acquired UK-based financial advisory firm Tiger Financial & Asset Management Limited in 2022.
Capital Expenditures
- Significant investments and associated expenses related to the development of Marygold & Co.'s proprietary mobile fintech application were primarily expensed, rather than capitalized, through June 30, 2023.
- The company curtailed further development costs for its mobile fintech app and closely controlled expenses in February 2026.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Marygold Companies Earnings Notes | 12/16/2025 | |
| How Low Can Marygold Companies Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 27.02 |
| Mkt Cap | 4.1 |
| Rev LTM | 1,091 |
| Op Inc LTM | 64 |
| FCF LTM | 173 |
| FCF 3Y Avg | 122 |
| CFO LTM | 186 |
| CFO 3Y Avg | 131 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 18.4% |
| Rev Chg 3Y Avg | 10.2% |
| Rev Chg Q | 28.6% |
| QoQ Delta Rev Chg LTM | 5.5% |
| Op Inc Chg LTM | -3.6% |
| Op Inc Chg 3Y Avg | 8.1% |
| Op Mgn LTM | 1.6% |
| Op Mgn 3Y Avg | 5.8% |
| QoQ Delta Op Mgn LTM | 0.8% |
| CFO/Rev LTM | 14.4% |
| CFO/Rev 3Y Avg | 14.8% |
| FCF/Rev LTM | 13.0% |
| FCF/Rev 3Y Avg | 13.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fund management - related party | 17 | 19 | 21 | 24 | 25 |
| Food products | 7 | 7 | 8 | 8 | 8 |
| Beauty products | 3 | 3 | 3 | 4 | 4 |
| Security systems | 2 | 3 | 3 | 3 | 3 |
| U.S. and U.K. Financial services | 1 | 1 | 1 | ||
| Total | 30 | 33 | 35 | 38 | 40 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Fund management - related party | 3 | 5 |
| Security systems | 0 | 0 |
| Food products | 0 | 0 |
| Beauty products | -0 | -2 |
| Corporate headquarters | -4 | -4 |
| U.S. and U.K. Financial services | -6 | -6 |
| Total | -7 | -6 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Fund management - related party | 8 | 7 | 10 | 3 | 1 |
| Security systems | 0 | 0 | 0 | 0 | 0 |
| Food products | 0 | 0 | 0 | 0 | -0 |
| U.S. and U.K. Financial services | 0 | ||||
| Beauty products | -0 | -0 | -0 | 0 | 0 |
| Corporate headquarters - including Marygold | -7 | -6 | -5 | -2 | -1 |
| Total | 1 | 1 | 6 | 2 | 0 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Fund management - related party | 20 | 18 | 17 | 13 | 11 |
| Corporate headquarters | 4 | ||||
| Food products | 4 | 4 | 4 | 3 | 2 |
| Beauty products | 3 | 3 | 4 | 4 | 4 |
| Security systems | 3 | 3 | 3 | 2 | 2 |
| U.S. and U.K. Financial services | 2 | ||||
| U.S.A. Financial services | 0 | ||||
| Corporate headquarters - including Marygold | 7 | 4 | 3 | 3 | |
| Total | 35 | 35 | 32 | 24 | 21 |
Price Behavior
Price Behavior
| Market Price | $1.06 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 02/23/2007 | |
| Distance from 52W High | -18.5% | |
| 50 Days | 200 Days | |
| DMA Price | $1.12 | $1.08 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -5.4% | -1.6% |
| 3M | 1YR | |
| Volatility | 58.9% | 103.7% |
| Downside Capture | 1.17 | -35.45 |
| Upside Capture | -33.68 | 3.17 |
| Correlation (SPY) | -4.9% | -0.2% |
MGLD Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.12 | -0.27 | 0.22 | -0.61 | 0.08 | 0.23 |
| Up Beta | 0.08 | -0.33 | -1.36 | -1.84 | -0.30 | -0.00 |
| Down Beta | 1.28 | 1.39 | 0.82 | -0.21 | -0.09 | 0.62 |
| Up Capture | -77% | -89% | 60% | -4% | 29% | 3% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 6 | 15 | 24 | 49 | 98 | 304 |
| Down Capture | 41% | -77% | 32% | -44% | 21% | 38% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 13 | 24 | 35 | 67 | 125 | 353 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MGLD | |
|---|---|---|---|---|
| MGLD | -4.7% | 101.5% | 0.39 | - |
| Sector ETF (XLF) | 13.1% | 14.6% | 0.62 | 8.7% |
| Equity (SPY) | 23.1% | 12.9% | 1.34 | -3.0% |
| Gold (GLD) | 25.4% | 28.3% | 0.79 | -19.5% |
| Commodities (DBC) | 29.5% | 19.8% | 1.19 | -9.6% |
| Real Estate (VNQ) | 14.4% | 13.7% | 0.74 | 4.3% |
| Bitcoin (BTCUSD) | -44.6% | 42.9% | -1.25 | -4.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MGLD | |
|---|---|---|---|---|
| MGLD | -24.9% | 116.2% | 0.18 | - |
| Sector ETF (XLF) | 11.6% | 18.4% | 0.49 | 2.6% |
| Equity (SPY) | 13.4% | 17.2% | 0.60 | 1.3% |
| Gold (GLD) | 18.2% | 18.6% | 0.79 | -2.1% |
| Commodities (DBC) | 8.1% | 19.6% | 0.31 | 6.0% |
| Real Estate (VNQ) | 2.5% | 18.9% | 0.03 | 3.2% |
| Bitcoin (BTCUSD) | 9.9% | 53.0% | 0.37 | -0.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MGLD | |
|---|---|---|---|---|
| MGLD | -11.4% | 116.0% | 0.24 | - |
| Sector ETF (XLF) | 13.7% | 22.1% | 0.57 | 4.0% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 2.4% |
| Gold (GLD) | 12.0% | 16.2% | 0.60 | -2.1% |
| Commodities (DBC) | 7.1% | 18.0% | 0.31 | 6.2% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 4.1% |
| Bitcoin (BTCUSD) | 58.2% | 66.2% | 0.98 | 0.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/15/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/12/2026 | -5.4% | -1.8% | 2.7% |
| 2/10/2026 | -4.5% | 18.2% | -5.5% |
| 11/10/2025 | 2.0% | -10.8% | -2.9% |
| 9/22/2025 | -3.7% | -0.9% | -4.6% |
| 5/8/2025 | -0.5% | -7.9% | -12.2% |
| 11/12/2024 | 10.3% | 2.6% | 28.3% |
| 2/15/2024 | 7.2% | 41.8% | 22.7% |
| 11/14/2023 | 8.3% | -1.1% | 0.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 6 | 5 | 7 |
| # Negative | 7 | 8 | 6 |
| Median Positive | 5.7% | 14.2% | 3.1% |
| Median Negative | -3.7% | -6.8% | -5.4% |
| Max Positive | 10.3% | 41.8% | 28.3% |
| Max Negative | -5.4% | -10.8% | -14.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/12/2026 | -5.4% | -1.8% | 2.7% |
| 2/10/2026 | -4.5% | 18.2% | -5.5% |
| 11/10/2025 | 2.0% | -10.8% | -2.9% |
| 9/22/2025 | -3.7% | -0.9% | -4.6% |
| 5/8/2025 | -0.5% | -7.9% | -12.2% |
| 11/12/2024 | 10.3% | 2.6% | 28.3% |
| 2/15/2024 | 7.2% | 41.8% | 22.7% |
| 11/14/2023 | 8.3% | -1.1% | 0.8% |
| 5/15/2023 | -1.3% | -5.7% | -14.1% |
| 2/14/2023 | -4.3% | -10.3% | -5.4% |
| 11/15/2022 | -3.1% | -8.5% | 3.1% |
| 9/29/2022 | 4.2% | 14.2% | 8.3% |
| 5/16/2022 | 0.9% | 5.7% | 2.8% |
| SUMMARY STATS | |||
| # Positive | 6 | 5 | 7 |
| # Negative | 7 | 8 | 6 |
| Median Positive | 5.7% | 14.2% | 3.1% |
| Median Negative | -3.7% | -6.8% | -5.4% |
| Max Positive | 10.3% | 41.8% | 28.3% |
| Max Negative | -5.4% | -10.8% | -14.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/05/2026 | 10-Q |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 09/19/2025 | 10-K |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/05/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 09/18/2024 | 10-K |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 02/14/2024 | 10-Q |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 09/25/2023 | 10-K |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 02/14/2023 | 10-Q |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 09/28/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/05/2026 | 10-Q |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 09/19/2025 | 10-K |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/05/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 09/18/2024 | 10-K |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 02/14/2024 | 10-Q |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 09/25/2023 | 10-K |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 02/14/2023 | 10-Q |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 09/28/2022 | 10-K |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 02/14/2022 | 10-Q |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 09/22/2021 | 10-K |
| 03/31/2021 | 05/14/2021 | 10-Q |
| 12/31/2020 | 02/16/2021 | 10-Q |
| 09/30/2020 | 11/16/2020 | 10-Q |
| 06/30/2020 | 09/28/2020 | 10-K |
| 03/31/2020 | 05/15/2020 | 10-Q |
| 12/31/2019 | 02/14/2020 | 10-Q |
| 09/30/2019 | 11/14/2019 | 10-Q |
| 06/30/2019 | 09/30/2019 | 10-K |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nicholas, & Melinda Gerber Living Trust | Chief Executive Officer | Direct | Buy | 12102025 | 0.93 | 25,000 | 23,175 | 17,382,293 | Form |
| 2 | Nicholas, & Melinda Gerber Living Trust | Chief Executive Officer | Direct | Buy | 12042025 | 1.02 | 15,352 | 15,736 | 19,194,278 | Form |
| 3 | Nicholas, & Melinda Gerber Living Trust | Chief Executive Officer | Direct | Buy | 11212025 | 1.05 | 20,000 | 20,960 | 19,608,890 | Form |
| 4 | Nicholas, & Melinda Gerber Living Trust | Chief Executive Officer | Direct | Buy | 6242025 | 1.00 | 50,000 | 49,845 | 18,632,832 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nicholas, & Melinda Gerber Living Trust | Chief Executive Officer | Direct | Buy | 12102025 | 0.93 | 25,000 | 23,175 | 17,382,293 | Form |
| 2 | Nicholas, & Melinda Gerber Living Trust | Chief Executive Officer | Direct | Buy | 12042025 | 1.02 | 15,352 | 15,736 | 19,194,278 | Form |
| 3 | Nicholas, & Melinda Gerber Living Trust | Chief Executive Officer | Direct | Buy | 11212025 | 1.05 | 20,000 | 20,960 | 19,608,890 | Form |
| 4 | Nicholas, & Melinda Gerber Living Trust | Chief Executive Officer | Direct | Buy | 6242025 | 1.00 | 50,000 | 49,845 | 18,632,832 | Form |
Industry Resources
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