Royal Gold, Inc.
RGLDRoyal Gold, Inc. is coiled. The quarters are improving, yet the P/E sits at the 4th percentile of its own 4-year range — the business is moving before the market.
Biggest watch item: the price is not yet in a confirmed uptrend — timing risk, not thesis risk.
The price is building a base (11 weeks in) while the P/E sits at the 4th percentile of its own 4-year range. Underneath, the last four quarters read improving — profit +154.5% year on year, and 159% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Royal Gold, Inc. trades at $196, building a base and 11 weeks into that stage. That is −14.4% against its own 200-day average. It sits at 21% of a 52-week range of $169 to $300. On relative strength it is currently behind the S&P 500 on a trailing-13-week view (16 weeks and counting).
Today the stock is building a base — week 11 of stage 1. At $196 it trades −14.4% versus its 200-day average and sits at 21% of its 52-week range ($169–$300).
Against the market, two honest reads. Cumulative: over the last 10.1 years the stock moved +139% while the S&P 500 moved +248% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (16 weeks and counting; last ahead the week of 2026-04-10) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 4th percentile of its own range.
Valuation P/E is the price of $1 of annual profit: how many dollars the market pays for each dollar the company earns in a year.
Royal Gold, Inc. trades at 23.1× P/E, near the bottom of its own range — cheaper only 4% of the time. Its long-run median P/E is 31.0×, measured across 4.3 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 23.1× is near the bottom of its own range — cheaper only 4% of the time, against a long-run median of 31.0× measured over 4.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +32.7% against a +26.6% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 3y, of the +18.3%/yr price move, ~+33.8%/yr came from earnings growth and ~−15.5 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Royal Gold, Inc. reads as mixed on its fundamental arc. Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +81.8% at its peak to +57.5% but is still expanding, ROE slipping at 6.5%. The read is built from 12 quarters across 4 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +34.7% | +18.0% | — | — |
| Profit | +42.4% | +25.1% | — | — |
| EPS | +32.7% | +22.6% | — | — |
| Stock price | +26.6% | +18.3% | +10.1% | +8.8% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
57.5/100 — rank 11 of 28 in Gold · 57% evidence confidence
Royal Gold, Inc. scores 57.5 out of 100 against the 28 companies it is compared with in Gold, ranking 11. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
The four contributions add to the total exactly: 19.4 + 15.1 + 12.7 + 10.3 = 57.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Royal Gold, Inc. reported $0.5 B of revenue in the Mar 26 quarter, +152.6% year on year. That is the 8th straight quarter of year-on-year growth. Over 4 years it has compounded at 10.5% a year. The last full year, FY25, came in at $1.0 B. The last four reported quarters add to $1.3 B.
Royal Gold, Inc. reported $0.5 B of revenue in the Mar 26 quarter, +152.6% year on year. That is the 8th straight quarter of year-on-year growth. Over 4 years it has compounded at 10.5% a year. The last full year, FY25, came in at $1.0 B. The last four reported quarters add to $1.3 B.
FY25 revenue came in at $1.0 B (+34.7% on the year), capping 4 years at 10.5% compound. The latest quarter (Mar 26) printed $0.5 B, +152.6% year on year — the 8th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +71.9% growth against the decade's 10.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +73.3% over the last 4 quarters against +51.0%/yr over the last 8 — accelerating; TTM profit +57.5% vs +69.2%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: the margin picture.
Operating margin Operating margin is what is left of every $100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
A clean operating margin is not in our numbers for Royal Gold, Inc. — its accounts do not report the operating-profit line this section reads, which is common for lenders and holding companies. The sections above and below carry the readings this company's filings do support.
A clean operating margin is not in our numbers for Royal Gold, Inc. — its accounts do not report the operating-profit line this section reads, which is common for lenders and holding companies. The sections above and below carry the readings this company's filings do support.
This company's accounts do not report the operating-profit line this section reads — common for lenders and holding companies classified outside the financial bucket. The revenue and net-profit sections are the cleaner reads for Royal Gold, Inc..
Why: the numbers show the operating margin move clearly, but the cost lines behind it sit below what we hold — so we state the move without inventing its driver.
→ Margins slipped — did that reach the bottom line? Next: profit +154.5% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Royal Gold, Inc. earned $0.3 B of net profit in the Mar 26 quarter, +154.5% year on year. Full-year FY25 profit was $0.5 B. The 4-year compound rate is 14.9%. That is 58.3% of the quarter's revenue. The same quarter a year earlier earned $0.1 B.
Royal Gold, Inc. earned $0.3 B of net profit in the Mar 26 quarter, +154.5% year on year. Full-year FY25 profit was $0.5 B. The 4-year compound rate is 14.9%. That is 58.3% of the quarter's revenue. The same quarter a year earlier earned $0.1 B.
Mar 26 profit was $0.3 B, +154.5% year on year. On the full year, FY25 printed $0.5 B (+42.4%), and the 4-year compound rate is 14.9%.
Pace comparison, last four quarters: profit +57.2% vs revenue +71.9%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: 159% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 159% of Royal Gold, Inc.'s reported profit arrived as operating cash — the cash follows the profit. In FY25 that was $0.7 B of operating cash against $0.5 B of profit. After null of capital spending, $0.7 B was left as free cash.
FY25: operating cash of $0.7 B against reported profit of $0.5 B, leaving free cash of $0.7 B after null of capital spending. Across the last 3 fiscal years the conversion rate is 159% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why: conversion is measured cleanly, but the working-capital day-counts behind it sit below what we hold — the move is shown without inventing its driver.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
→ So follow the cash to where it goes.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Royal Gold, Inc. does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Nothing is estimated in place of the missing day-counts, so no cash-cycle chart is drawn.
Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
→ Does all this activity actually earn its cost of capital? Next: ROE is 12% and the ROIC − WACC spread is +2.4 pp.
Return on equity Return on equity (ROE) is the profit the business earns on its shareholders’ money. With the full capital-employed split not in our numbers, ROE is the cleanest long ladder we can draw here.
Royal Gold, Inc. earns a ROE of 7% in FY25. Return on invested capital clears the cost of that capital by +2.4 percentage points, so growth here adds value rather than only size. The wiring behind it is 48.5% net margin on 0.10× asset turns.
FY25 ROE is 7%.
Why the return is what it is — the wiring (FY25): 48.5% net margin × 0.10× asset turns × 1.32× balance-sheet leverage ≈ 6.4% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 9.0% − 6.6% = a +2.4 pp spread. The 6.6% is an estimate of this company's own cost of capital — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.08.
Dividend A dividend is cash paid out per share. Dividend per share is the declared amount for the period; the trailing twelve-month total is the four most recent quarters added together.
Royal Gold, Inc. paid $1.85 per share over the last four reported quarters, up 5.6% on a year ago. The most recent declaration was $0.47 for Dec 25. Against the current price of $196 that is a trailing yield of 0.94%, measured on dividends already paid rather than on a forecast.
Royal Gold, Inc. paid $1.85 per share over the last four reported quarters, up 5.6% on a year ago. The most recent declaration was $0.47 for Dec 25. Against the current price of $196 that is a trailing yield of 0.94%, measured on dividends already paid rather than on a forecast.
Royal Gold, Inc. paid $1.85 per share across the last four reported quarters, most recently $0.47 for Dec 25. That is up 5.6% against the same quarter a year earlier. Against the current price of $196 the trailing twelve months work out to 0.94% — trailing dividends measured against today's price, not a forward estimate.
→ A payout is cash leaving the business. Next: what the balance sheet looks like behind it.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Royal Gold, Inc. carries total debt of $0.6 B against shareholder equity of $7.5 B as of Mar 26, a debt-to-equity of 0.08 — effectively unlevered. On the annual view that ratio went from 0.00 in FY21 to 0.12 in FY25. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of $0.6 B against shareholder equity of $7.5 B — a debt-to-equity of 0.08. On the annual view, debt-to-equity went from 0.00 (FY21) to 0.12 (FY25). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: short interest is 3.4% of the float.
Ownership There is no quarter-by-quarter holder register to read here, so we read the crowd through short interest — the slice of tradable shares currently sold short, positioned for a fall.
3.4% of Royal Gold, Inc.'s tradable float is currently sold short — some money is positioned against it. At typical trading volumes those positions would take about 3.6 days to buy back. There is no quarter-by-quarter holder register to read for this filer, so the crowd is read through short interest instead.
The latest reading: 3.4% of the float is sold short, and at typical trading volumes it would take about 3.6 days to buy those positions back. Some money is positioned against it. This is a single point-in-time reading — we do not yet hold its history, so we show no trend chart.
Why it sits there: who is doing the shorting, and why, does not travel with the number — the level is shown without inventing its story.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Royal Gold, Inc.: the Z-score reads 5.21. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.
Why it matters: a Z-score of 5.21 sits well clear of the distress zone — the balance sheet is not the risk here.
The safety line in one sentence: the Z-score reads 5.21.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Royal Gold, Inc. this page | 23.1× | $17B | Mixed | |||
| Newmont Corporation | 11.8× | $96B | Mixed | |||
| Agnico Eagle Mines Limited | 13.5× | $73B | Mixed | |||
| Barrick Mining Corporation | 10.2× | $62B | Consistent | |||
| Wheaton Precious Metals Corp. | 27.7× | $50B | Mixed | |||
| Franco-Nevada Corporation | 29.8× | $41B | Improving | |||
| AngloGold Ashanti plc | 11.6× | $40B | Mixed | |||
| Gold Fields Limited | 8.2× | $29B | Turning around | |||
| Kinross Gold Corporation | 9.8× | $28B | Mixed | |||
| Pan American Silver Corp. | 13.6× | $18B | No read | |||
| Coeur Mining, Inc. | 12.3× | $15B | No read | |||
| Alamos Gold Inc. | 11.4× | $12B | Consistent | |||
| Harmony Gold Mining Company Limited | 9.9× | $10B | Consistent | |||
| Eldorado Gold Corporation | 14.7× | $8B | Mixed | |||
| IAMGOLD Corporation | 8.3× | $8B | Turning around | |||
| Equinox Gold Corp. | 10.9× | $7B | No read | |||
| OR Royalties Inc. | 21.7× | $6B | Mixed | |||
| OceanaGold Corporation | 7.1× | $5B | Mixed | |||
| SSR Mining Inc. | 22.9× | $5B | No read | |||
| B2Gold Corp. | 9.4× | $5B | No read | |||
| Aura Minerals Inc. | 50.0× | $5B | Turning around | |||
| Orla Mining Ltd. | 13.2× | $3B | Improving | |||
| Centerra Gold Inc. | 5.1× | $3B | No read | |||
| Aris Mining Corporation | 17.2× | $3B | No read | |||
| Seabridge Gold Inc. | — | $3B | — | — | — | — |
| Allied Gold Corporation | — | $3B | No read | |||
| NovaGold Resources Inc. | — | $3B | — | — | — | — |
| Fortuna Mining Corp. | 7.5× | $3B | No read | |||
| Hycroft Mining Holding Corporation | — | $2B | No read | |||
| DRDGOLD Limited | 9.3× | $2B | Consistent | |||
| Collective Mining Ltd. | — | $1B | — | — | — | — |
| i-80 Gold Corp. | — | $1B | No read | |||
| Osisko Development Corp. | — | $1B | No read | |||
| Gold Royalty Corp. | — | $1B | No read | |||
| Mako Mining Corp. | 13.5× | $1B | No read | |||
| Dakota Gold Corp. | — | $1B | — | — | — | — |
| New Found Gold Corp. | — | $1B | — | — | — | — |
| Contango Silver & Gold Inc. | — | $1B | — | — | — | — |
| International Tower Hill Mines Ltd. | — | $0B | — | — | — | — |
| Galiano Gold Inc. | 15.1× | $0B | No read |
Frequently asked questions
What is Royal Gold, Inc.'s stock price today?
Royal Gold, Inc. trades at $196, +26.6% over the past year. The company is valued at $17.0 B. The stock sits at 21% of its 52-week range of $169–$300, −14.4% versus its 200-day average. On the tape, the price is building a base, 11 weeks in. — as of 29 July 2026.
What were Royal Gold, Inc.'s latest quarterly results?
Royal Gold, Inc. reported revenue of $0.5 B and net profit of $0.3 B for the Mar 26 quarter. Revenue rose 152.6% and profit rose 154.5% year on year. Earnings per share were $3.30. — as of 29 July 2026.
What is Royal Gold, Inc.'s revenue?
Royal Gold, Inc. reported revenue of $0.5 B in the Mar 26 quarter, +152.6% year on year. For the full FY25 fiscal year, revenue was $1.0 B (+34.7%). Over the last 4 years revenue compounded at 10.5% a year. — as of 29 July 2026.
What is Royal Gold, Inc.'s profit?
Royal Gold, Inc. earned $0.3 B of net profit in the Mar 26 quarter, +154.5% year on year. Full-year FY25 profit was $0.5 B. — as of 29 July 2026.
What is Royal Gold, Inc.'s market cap?
Royal Gold, Inc.'s market capitalisation is $17.0 B at a stock price of $196. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 29 July 2026.
What is Royal Gold, Inc.'s P/E ratio?
Royal Gold, Inc. trades at a P/E of 23.1×, at the 4th percentile of its own 4-year range, against a long-run median of 31.0×. This is a comparison with the stock's own history, not a value call — as of 29 July 2026.
Does Royal Gold, Inc. pay a dividend?
Yes — Royal Gold, Inc. declared $0.47 per share for Dec 25, and $1.85 per share across the last four reported quarters. The latest quarter is up 5.6% on the same quarter a year earlier. — as of 29 July 2026.
What is Royal Gold, Inc.'s dividend per share?
Royal Gold, Inc.'s most recently declared dividend is $0.47 per share for Dec 25, giving $1.85 per share over the trailing twelve months. Each figure is the amount declared for that quarter as reported, added across four quarters for the trailing total. — as of 29 July 2026.
What is Royal Gold, Inc.'s dividend yield?
Royal Gold, Inc.'s trailing dividend yield is 0.94%: $1.85 declared per share across the last four reported quarters, against a share price of $196. Each quarter’s figure is the amount declared for that quarter as reported, added across four quarters and divided by the latest close. — as of 29 July 2026.
Is Royal Gold, Inc. overvalued?
On its own history, Royal Gold, Inc. looks cheap against its own history: its P/E of 23.1× has been cheaper only 4% of the time in 4 years (long-run median 31.0×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 29 July 2026.
Is Royal Gold, Inc. growing?
Yes — Royal Gold, Inc. is growing: latest-quarter revenue +152.6% year on year, profit +154.5%. The 4-year compound rates are 10.5% (revenue) and 14.9% (profit). The earnings engine currently reads: improving — as of 29 July 2026.
How is Royal Gold, Inc. performing?
Royal Gold, Inc. is building a base, 11 weeks in. Its latest quarter's revenue rose 152.6% and profit rose 154.5% year on year. Against the S&P 500 it has been behind on a trailing-13-week view for 16 weeks. This describes what the data did, not a rating. — as of 29 July 2026.
What stage is Royal Gold, Inc. in?
Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +81.8% at its peak to +57.5% but is still expanding, ROE slipping at 6.5%. The read comes from the last 12 quarters of growth (revenue growth +73.3% latest, profit growth +57.5% latest, eps growth +38.9% latest) plus the ROE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 29 July 2026.
Is Royal Gold, Inc. in an uptrend?
No — the price is building a base (week 11 of stage 1), trading −14.4% versus its 200-day average and at 21% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 29 July 2026.
Is Royal Gold, Inc. beating the market?
Not lately — on a trailing-13-week view Royal Gold, Inc. is currently behind the S&P 500 (16 weeks and counting; last ahead the week of 2026-04-10), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.1 years the stock moved +139% against the S&P 500's +248% — behind the index over the full window. — as of 29 July 2026.
Will Royal Gold, Inc.'s stock price go up?
This page publishes no price forecast for Royal Gold, Inc. What it measures instead: the stock price is $196, the price is building a base 11 weeks in. Its P/E of 23.1× sits at the 4th percentile of its own 4-year range. — as of 29 July 2026.
Is the market betting against Royal Gold, Inc.?
Somewhat — short interest is 3.4% of Royal Gold, Inc.'s tradable float, about 3.6 days to cover at typical volumes. A moderate reading: some money is positioned against it. With no quarter-by-quarter holder register here, short interest is the cleanest crowd read we hold — as of 29 July 2026.
Does Royal Gold, Inc. have too much debt?
No — Royal Gold, Inc.'s debt-to-equity is 0.08. A year-by-year borrowings ladder is not in our numbers for this stock, so the latest reading is the cleanest hold. The returns on this page are earned, not borrowed — as of 29 July 2026.
What is Royal Gold, Inc.'s cash flow?
Royal Gold, Inc. generated $0.7 B of operating cash flow in FY25 and $0.7 B of free cash flow after null of capital spending. Reported profit that year was $0.5 B, so operating cash ran ahead of profit. — as of 29 July 2026.
Is Royal Gold, Inc.'s profit real cash?
Yes — over the last 3 fiscal years, 159% of Royal Gold, Inc.'s reported profit arrived as operating cash. In FY25, operating cash was $0.7 B against reported profit of $0.5 B. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 29 July 2026.
How financially safe is Royal Gold, Inc.?
On the balance sheet, the Z-score reads 5.21 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 29 July 2026.
What could break the Royal Gold, Inc. story?
Biggest watch item: the price is not yet in a confirmed uptrend — timing risk, not thesis risk. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 29 July 2026.
Is Royal Gold, Inc. a stock worth studying right now?
This is not investment advice. The machine read: Royal Gold, Inc. is coiled. The quarters are improving, yet the P/E sits at the 4th percentile of its own 4-year range — the business is moving before the market. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 29 July 2026.