NASDAQ : RGLD
Royal Gold, Inc. — Financial statements
Materials · Gold · United States
Last price 236.83 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 20.07B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Royal Gold, Inc. (RGLD) reported revenue of 1.54B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.54B | 1.02B | 712.77M | 598.42M | 596.18M | 645.17M |
| Cost of Revenue | 202.67M | 130.93M | 97.51M | 90.52M | 94.64M | 98.47M |
| Gross Profit | 1.33B | 890.94M | 615.26M | 507.90M | 501.54M | 546.70M |
| Selling, General & Admin | 58.83M | 49.18M | 40.93M | 39.76M | 34.61M | 29.31M |
| Operating Expenses | 358.83M | 226.26M | 185.36M | 204.70M | 217.83M | 218.32M |
| Operating Income | 974.18M | 664.67M | 429.90M | 303.20M | 283.71M | 328.39M |
| Interest Expense | -38.50M | -23.40M | -6.30M | -28.40M | -10.00M | -2.50M |
| Interest & Investment Income | 16.39M | 14.41M | 6.01M | 9.95M | 7.83M | 3.02M |
| Other Non Operating Income (Expenses) | -11.07M | -5.62M | -3.45M | -2.47M | -7.17M | -3.25M |
| EBT Excluding Unusual Items | 940.99M | 650.06M | 426.16M | 282.29M | 274.37M | 325.65M |
| Merger & Restructuring Charges | -26.51M | -26.51M | ||||
| Gain (Loss) on Sale of Investments | -7.27M | -49.69M | -66.00K | -147.00K | -1.50M | 2.51M |
| Other Unusual Items | 2.58M | |||||
| Pretax Income | 909.79M | 573.87M | 426.09M | 282.14M | 272.87M | 328.16M |
| Income Tax Expense | 165.00M | 102.29M | 93.61M | 42.01M | 32.93M | 53.22M |
| Earnings From Continuing Operations | 744.79M | 471.58M | 332.48M | 240.13M | 239.94M | 274.94M |
| Minority Interest in Earnings | -6.83M | -5.29M | -456.00K | -692.00K | -960.00K | -898.00K |
| Net Income | 737.96M | 466.28M | 332.02M | 239.44M | 238.98M | 274.04M |
| Net Income to Common | 737.96M | 466.28M | 332.02M | 239.44M | 238.98M | 274.04M |
| Shares Outstanding (Basic) | 78.94M | 69.42M | 65.66M | 65.61M | 65.58M | 65.56M |
| Shares Outstanding (Diluted) | 79.19M | 69.56M | 65.78M | 65.74M | 65.66M | 65.63M |
| EPS (Basic) | 9.35 | 6.72 | 5.06 | 3.65 | 3.64 | 4.18 |
| EPS (Diluted) | 9.30 | 6.69 | 5.04 | 3.63 | 3.63 | 4.16 |
| Free Cash Flow | 585.00K | -459.91M | 426.94M | 413.11M | -504.81M | 61.49M |
| Free Cash Flow Per Share | 0.01 | -6.61 | 6.49 | 6.28 | -7.69 | 0.94 |
| Dividend Per Share | 1.90 | 1.85 | 1.70 | 1.55 | 1.45 | |
| Gross Margin | 86.80% | 87.19% | 86.32% | 84.87% | 84.12% | 84.74% |
| Operating Margin | 63.44% | 65.05% | 60.31% | 50.67% | 47.59% | 50.90% |
| Profit Margin | 48.05% | 45.63% | 46.58% | 40.01% | 40.09% | 42.48% |
| Free Cash Flow Margin | 0.04% | -45.01% | 59.90% | 69.03% | -84.67% | 9.53% |
| EBITDA | 1.27B | 841.76M | 574.33M | 468.14M | 466.93M | 517.40M |
| EBITDA Margin | 82.97% | 82.37% | 80.58% | 78.23% | 78.32% | 80.20% |
| D&A For EBITDA | 300.01M | 177.08M | 144.43M | 164.94M | 183.22M | 189.01M |
| EBIT | 974.18M | 664.67M | 429.90M | 303.20M | 283.71M | 328.39M |
| EBIT Margin | 63.44% | 65.05% | 60.31% | 50.67% | 47.59% | 50.90% |
| Effective Tax Rate | 18.14% | 17.82% | 21.97% | 14.89% | 12.07% | 16.22% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 182.47M | 233.72M | 195.50M | 104.17M | 118.59M | 143.55M |
| Cash & Short-Term Investments | 182.47M | 233.72M | 195.50M | 104.17M | 118.59M | 143.55M |
| Accounts Receivable | 131.71M | 110.85M | 63.46M | 48.88M | 49.41M | 54.09M |
| Other Receivables | 19.46M | 2.11M | 1.14M | 2.68M | 3.07M | 4.92M |
| Receivables | 151.17M | 112.95M | 64.60M | 51.56M | 52.47M | 59.00M |
| Inventory | 30.49M | 25.88M | 12.97M | 9.79M | 12.66M | 11.61M |
| Prepaid Expenses | 5.91M | 4.89M | 2.22M | 1.08M | 2.12M | 1.83M |
| Other Current Assets | 833.00K | |||||
| Total Current Assets | 370.04M | 377.45M | 275.29M | 167.43M | 185.83M | 216.00M |
| Property, Plant & Equipment | 33.76M | 4.32M | ||||
| Long-Term Investments | 8.96B | 9.06B | 3.04B | 3.08B | 3.24B | 2.45B |
| Long-Term Deferred Charges | 3.10M | 4.41M | ||||
| Other Long-Term Assets | 118.44M | 65.61M | 69.72M | 118.06M | 111.29M | 91.14M |
| Total Assets | 9.45B | 9.54B | 3.39B | 3.36B | 3.53B | 2.76B |
| Accounts Payable | 4.63M | 10.06M | 10.58M | 11.44M | 6.69M | 6.47M |
| Current Portion of Leases | 4.25M | 965.00K | ||||
| Current Income Taxes Payable | 51.62M | 33.30M | 23.18M | 15.56M | 16.07M | 19.07M |
| Other Current Liabilities | 70.30M | 73.31M | 50.43M | 45.42M | 40.84M | 35.88M |
| Total Current Liabilities | 126.55M | 120.92M | 85.15M | 72.42M | 63.59M | 61.43M |
| Long-Term Debt | 395.89M | 895.44M | 245.97M | 571.57M | ||
| Long-Term Leases | 32.96M | 4.00M | ||||
| Long-Term Deferred Tax Liabilities | 1.16B | 1.19B | 132.31M | 134.30M | 138.16M | 87.70M |
| Other Long-Term Liabilities | 128.67M | 92.19M | 39.46M | 7.73M | 7.74M | 6.69M |
| Total Liabilities | 1.82B | 2.33B | 260.92M | 460.42M | 781.05M | 155.82M |
| Common Stock | 844.00K | 845.00K | 657.00K | 656.00K | 656.00K | 656.00K |
| Additional Paid-In Capital | 5.92B | 5.93B | 2.23B | 2.22B | 2.21B | 2.21B |
| Retained Earnings | 1.66B | 1.23B | 889.99M | 666.52M | 527.31M | 381.93M |
| Comprehensive Income & Other | 993.00K | |||||
| Total Common Equity | 7.59B | 7.16B | 3.12B | 2.89B | 2.74B | 2.59B |
| Minority Interest | 46.64M | 48.22M | 12.25M | 12.42M | 12.38M | 12.47M |
| Shareholders' Equity | 7.63B | 7.21B | 3.13B | 2.90B | 2.75B | 2.60B |
| Total Liabilities & Equity | 9.45B | 9.54B | 3.39B | 3.36B | 3.53B | 2.76B |
| Total Debt | 395.89M | 932.65M | 4.97M | 245.97M | 571.57M | |
| Net Cash (Debt) | -81.34M | -526.05M | 190.54M | -141.80M | -452.99M | 145.28M |
| Net Cash Per Share | -1.03 | -7.56 | 2.90 | -2.16 | -6.90 | 2.21 |
| Filing Date Shares Outstanding | 84.73M | 84.81M | 65.76M | 65.69M | 65.64M | 65.62M |
| Total Common Shares Outstanding | 84.67M | 84.50M | 65.69M | 65.63M | 65.59M | 65.56M |
| Working Capital | 243.49M | 256.53M | 190.14M | 95.00M | 122.25M | 154.57M |
| Book Value Per Share | 89.60 | 84.70 | 47.48 | 44.01 | 41.79 | 39.48 |
| Tangible Book Value | 7.59B | 7.16B | 3.12B | 2.89B | 2.74B | 2.59B |
| Tangible Book Value Per Share | 89.60 | 84.70 | 47.48 | 44.01 | 41.79 | 39.48 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 737.96M | 466.28M | 332.02M | 239.44M | 238.98M | 274.04M |
| Depreciation & Amortization | 300.01M | 177.08M | 144.43M | 164.94M | 183.22M | 189.01M |
| Loss (Gain) From Sale of Investments | 7.27M | 49.69M | 66.00K | 147.00K | 1.50M | -2.51M |
| Stock-Based Compensation | 12.78M | 11.80M | 11.89M | 9.70M | 8.41M | 6.05M |
| Other Operating Activities | -892.00K | -3.93M | 9.76M | -5.00M | -17.90M | 13.93M |
| Change in Accounts Receivable | -37.45M | -18.12M | -14.58M | 521.00K | 4.68M | -9.77M |
| Change in Inventory | -15.98M | -11.74M | -3.19M | 2.87M | -1.05M | 2.29M |
| Change in Accounts Payable | -45.44M | -36.84M | -9.11M | 4.76M | 211.00K | 3.86M |
| Change in Income Taxes | 21.94M | 9.79M | 9.16M | -118.00K | -1.16M | -13.49M |
| Change in Other Net Operating Assets | 64.19M | 60.83M | 49.06M | -1.46M | 435.00K | -1.55M |
| Operating Cash Flow | 1.04B | 704.85M | 529.50M | 415.79M | 417.35M | 461.87M |
| Capital Expenditures | -1.04B | -1.16B | -102.56M | -2.68M | -922.15M | -400.38M |
| Cash Acquisitions | -411.34M | -411.34M | ||||
| Investment in Securities | 116.72M | 149.56M | 8.65M | |||
| Other Investing Activities | 7.79M | 7.98M | 24.88M | -151.00K | -721.00K | -241.00K |
| Investing Cash Flow | -1.33B | -1.42B | -77.68M | -2.83M | -922.88M | -416.97M |
| Long-Term Debt Issued | 1.27B | 700.00M | ||||
| Total Debt Issued | 1.27B | 1.27B | 700.00M | 100.00M | ||
| Long-Term Debt Repaid | -375.00M | -250.00M | -325.00M | -125.00M | ||
| Total Debt Repaid | -875.00M | -375.00M | -250.00M | -325.00M | -125.00M | -300.00M |
| Net Debt Issued (Repaid) | 400.00M | 900.00M | -250.00M | -325.00M | 575.00M | -200.00M |
| Issuance of Common Stock | 37.99M | 15.33M | ||||
| Common Dividends Paid | -139.80M | -118.53M | -105.24M | -98.57M | -91.92M | -78.74M |
| Other Financing Activities | -47.65M | -44.87M | -5.25M | -3.81M | -2.51M | -4.47M |
| Financing Cash Flow | 220.53M | 751.93M | -360.49M | -427.38M | 480.57M | -283.21M |
| Net Cash Flow | -65.71M | 38.22M | 91.33M | -14.42M | -24.96M | -238.31M |
| Free Cash Flow | 585.00K | -459.91M | 426.94M | 413.11M | -504.81M | 61.49M |
| Free Cash Flow Margin | 0.04% | -45.01% | 59.90% | 69.03% | -84.67% | 9.53% |
| Free Cash Flow Per Share | 0.01 | -6.61 | 6.49 | 6.28 | -7.69 | 0.94 |
| Levered Free Cash Flow | -189.51M | -606.52M | 313.74M | 356.53M | -552.10M | |
| Unlevered Free Cash Flow | -165.44M | -591.90M | 317.67M | 374.28M | -545.85M | |
| Cash Interest Paid | 19.48M | 19.48M | 6.59M | 28.05M | 7.22M | 304.00K |
| Cash Income Tax Paid | 95.35M | 95.35M | 72.11M | 50.30M | 54.80M | 24.17M |
| Change in Working Capital | -12.73M | 3.92M | 31.34M | 6.57M | 3.12M | -18.66M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 19.38B | 18.76B | 8.67B | 7.95B | 7.39B | 6.91B |
| Enterprise Value | 19.46B | 19.37B | 8.55B | 8.18B | 7.74B | 6.86B |
| Last Close Price | 228.77 | 220.44 | 129.34 | 117.17 | 107.80 | 99.35 |
| PE Ratio | 24.61 | 40.23 | 26.11 | 33.19 | 30.94 | 25.20 |
| Forward PE | 18.89 | 22.11 | 21.51 | 30.08 | 32.35 | 35.21 |
| PS Ratio | 12.62 | 18.36 | 12.16 | 13.28 | 12.40 | 10.70 |
| PB Ratio | 2.55 | 2.60 | 2.77 | 2.74 | 2.69 | 2.65 |
| P/TBV Ratio | 2.55 | 2.62 | 2.78 | 2.75 | 2.70 | 2.67 |
| P/FCF Ratio | 33,133.66 | 20.31 | 19.23 | 112.31 | ||
| P/OCF Ratio | 18.56 | 26.62 | 16.37 | 19.11 | 17.72 | 14.95 |
| PEG Ratio | 1.46 | 0.68 | 0.81 | 2.55 | 3.23 | 3.52 |
| EV/Sales Ratio | 12.67 | 18.95 | 12.00 | 13.66 | 12.97 | 10.63 |
| EV/EBITDA Ratio | 15.28 | 23.01 | 14.89 | 17.47 | 16.57 | 13.25 |
| EV/EBIT Ratio | 19.98 | 29.14 | 19.90 | 26.97 | 27.27 | 20.88 |
| EV/FCF Ratio | 33,272.70 | 20.04 | 19.79 | 111.52 | ||
| Debt / Equity Ratio | 0.05 | 0.13 | 0.00 | 0.09 | 0.21 | |
| Debt / EBITDA Ratio | 0.31 | 1.11 | 0.01 | 0.53 | 1.22 | |
| Debt / FCF Ratio | 676.74 | 0.01 | 0.59 | |||
| Net Debt / Equity Ratio | 0.01 | 0.07 | -0.06 | 0.05 | 0.17 | -0.06 |
| Net Debt / EBITDA Ratio | 0.06 | 0.62 | -0.33 | 0.30 | 0.97 | -0.28 |
| Net Debt / FCF Ratio | 139.04 | -1.14 | -0.45 | 0.34 | -0.90 | -2.36 |
| Asset Turnover | 0.24 | 0.16 | 0.21 | 0.17 | 0.19 | |
| Inventory Turnover | 9.25 | 6.74 | 8.57 | 8.07 | 7.80 | |
| Quick Ratio | 2.64 | 2.87 | 3.06 | 2.15 | 2.69 | 3.30 |
| Current Ratio | 2.92 | 3.12 | 3.23 | 2.31 | 2.92 | 3.52 |
| Return on Equity (ROE) | 13.60% | 9.12% | 11.02% | 8.49% | 8.96% | |
| Return on Assets (ROA) | 9.35% | 6.43% | 7.96% | 5.50% | 5.64% | |
| Return on Invested Capital (ROIC) | 10.18% | 10.07% | 11.21% | 8.26% | 8.81% | 11.62% |
| Return on Capital Employed (ROCE) | 10.40% | 7.10% | 13.00% | 9.20% | 8.20% | 12.20% |
| Earnings Yield | 4.06% | 2.48% | 3.83% | 3.01% | 3.23% | 3.97% |
| FCF Yield | 0.00% | -2.45% | 4.92% | 5.20% | -6.83% | 0.89% |
| Dividend Yield | 0.83% | 0.83% | 1.29% | 1.28% | 1.29% | |
| Payout Ratio | 20.44% | 25.42% | 31.70% | 41.17% | 38.46% | 28.73% |
| Buyback Yield / Dilution | -20.35% | -5.75% | -0.06% | -0.12% | -0.05% | 0.00% |
| Total Shareholder Return | -19.52% | -4.92% | 1.23% | 1.16% | 1.23% | 0.00% |