Royal Gold Inc

Mineral Royalty Traders

RGLDMixed9 of 11 basics passed

$236.68

+2.38%

Market cap $20.1B

$236.68

+2.38%

Market cap $20.1B

Royal Gold Inc enquires and manages precious metal royalties and streams with a focus on gold. The company purchases a percentage of the metal produced from a mineral property for an initial payment without assuming responsibility for mining operations.

It is a $20.1B financial services company. Revenue grew 92.8% over the last year, and it keeps 48¢ of every dollar of sales as profit. It trades at 27.1× earnings — in the cheapest third of its own history.

Website: royalgold.com
Location: Denver, CO
Employees: 39
Sector: Financial Services

Share price · 3 years

$106.01 → $236.68+123.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $1.55B
Profit: keeps 48¢ of every $1 sold; $738M
Free cash flow: cash left after running the business; $50.6M
Net debt: debt minus cash on hand; $662M
P/E: years of profit in the price; 27.1
EPS: earnings per share, TTM; $10.61
Dividend: pays out 19% of profit; 0.70%
Shares: up 7% since 2016 — dilution; 69.6M
Volatility: beta vs the market — under 1 swings less; 0.46

Revenue, last 7 years

52-week range

Low $169.08$236.68High $304.29

Today's price is 50% of the way from the year's low to its high.

P/E vs its history5y

27.1×median 31.2×

Higher than 23% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

27.1×

77%

P/S

13.0×

60%

EV/EBITDA

21.3×

88%

P/B

2.6×

72%

FCF yield

0.0%

42%

Share of the last ~5 years that was pricier than today (cheaper than usual). Based on the daily valuation record.

Insider activity · 90 days

-$2.62Mnet selling

Purchases$0

Sales$2.62M

Insiders trading, last 14d0 buy · 1 sell

Standing in Financial Services

Size$20.1Btop 62%
Revenue growth+20%top 22%
Net margin48%top 4%
Return on equity12%top 62%
P/E27.1×top 80%
Dividend yield0.70%top 90%

Ranked against 129 Financial Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong growth; Valuation and Quality lag behind.

Valuation42

P/E vs own history23th pct · 20/25
FCF yield0.3% · 5/25
P/S12.9x · 5/25
EV/EBITDA16.2x · 12/25

Growth85

Revenue CAGR13.7% · 20/25
Net income CAGR11.4% · 20/25
EPS CAGR ~5Y17.2% · 20/25
Fwd implied growth30.4% · 25/25

Profitability67

ROIC6.0% · 5/25
ROE11.6% · 12/25
Net margin47.7% · 25/25
Operating margin61.4% · 25/25

Health63

Altman Zn/a · 0/25
Current ratio2.92 · 25/25
Interest coverage9.9x · 18/25
Net cash / debtD/A 7% · 20/25

Quality42

Piotroski F4/9 · 10/25
Beneish M-2.25 · 20/25
FCF conversionn/a · 0/25
Margin stabilityσ 11.3% · 12/25

Moat55

ROIC >12% years0/10 yrs · 0/25
Median gross margin49.3% · 20/25
FCF-positive years3/5 yrs · 10/25
Worst-year net marginworst 22.2% · 25/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Revenue crossed $1B
$1.03B for the year
FY2025Financial
Best year on record
$466M net income
FY2020Financial
Became debt-free
cash now exceeds total debt
FY2017Financial
Turned profitable
$102M net income after a loss year

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$23 898 today — price return only

$1.0B revenue in FY2025

Revenue up 92.8% year over year

Profitable 7 years in a row

39 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (86.2%)
Strongly profitable — 47.7% net margin
Revenue growing 92.8% year over year
Interest covered 9.9× by operating earnings

Watch-outs

Loss-making in 2 of the recent years
Net debt equals ~13.1 years of free cash flow

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago+92.8% YoY
Profitable — makes more than it spends$738M TTM
Profit growing — earnings are higher than last year+22.6% YoY
Generates cash — cash left after running and investing$50.6M TTM
Debt under control — could handle its obligations~13.1y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$20.1B market cap
Not printing shares — share count not ballooning — you keep your slice+6.0% shares over ~5y
Proven track record — years of profitability behind it8/10 profitable years
Financially stable — balance sheet not near distresshealth score 43/100
Pays a dividend — returns cash to shareholdersyield 0.70%
Valuation not extreme — price not wildly above earningsP/E 27.1

Peer comparisonRoyal Gold Inc vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
RGLD this company	$20.1B	27.1	+92.8%	47.7%	Mixed
BRK.A Berkshire Hathaway Inc.	$1.1T	11.6	+3.9%	22.3%	Mixed
BRK.B Berkshire Hathaway	$1.1T	11.6	+0.0%	18.0%	Strong
JPM JPMorgan Chase & Co.	$886.2B	13.6	+13.5%	32.6%	Strained
V VISA Inc.	$723.9B	31.9	+14.4%	50.8%	Solid
MA Mastercard Incorporated	$516.4B	31.7	+16.0%	46.3%	Mixed
BAC Bank of America Corporation	$380.4B	11.3	+15.9%	27.8%	Mixed

Head-to-head: RGLD vs BRK.A · RGLD vs BRK.B · RGLD vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 5Buy 12Hold 3Sell 1

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $1.55B · net income $738M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$1.55B

YoY 92.8%

Net income (TTM)

$738M

Margin 47.7%

Gross margin

86.2%

Operating margin

61.4%

P/E ratio

27.1

Dividend yield

0.70%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	0.5	0.6	0.6	0.6	0.7	1.0
Gross profit	0.2	0.3	0.3	0.3	0.4	0.6
Operating income (EBIT)	0.2	0.3	0.3	0.3	0.4	0.6
Net income	0.2	0.3	0.2	0.2	0.3	0.5
EPS (diluted)	3.04	4.61	3.64	3.64	5.05	6.70

Cash flowFree cash flow $50.6M · operating cash flow $1.04B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$50.6M

Margin 3.3%

Operating cash flow (TTM)

$1.04B

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.3	0.4	0.4	0.4	0.5	0.7
Capital expenditure	—	-0.4	-0.9	-0.0	-0.1	-1.2
Free cash flow	0.3	0.0	-0.5	0.4	0.4	-0.5
FCF margin	68.3%	1.1%	-83.7%	68.2%	59.3%	-44.6%

Balance sheetAssets $9.54B · net debt $662M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $9.54B of assets is financed

25%

75%

Liabilities $2.33B — borrowed moneyEquity $7.16B — owners' stake

Cash vs debt

Total debt $895M − cash $234M = net debt $662M

Cash on hand covers 26% of debt.

Interest coverage

9.9x

EBIT ÷ interest expense

ROE

11.6%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.3	0.2	0.1	0.1	0.2	0.2
Total assets	2.8	2.7	3.5	3.4	3.4	9.5
Total liabilities	0.5	0.1	0.8	0.5	0.3	2.3
Total debt	0.3	—	0.6	0.2	0.0	0.9
Equity	2.3	2.5	2.7	2.9	3.1	7.2
Net debt	-0.0	—	0.5	0.1	-0.2	0.7

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of RGLD on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $236.68 · market cap $20.1B.