Royal Gold (RGLD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Royal Gold

NasdaqGS•Basic Materials•Gold

$261.37-0.74(<0.01%)Pre-market

Market Cap

$21.32B

P/E

28.9x

P/S

13.8x

P/B

2.8x

Royal Gold, Inc., together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests in North America, South and Central America, Europe, the Middle East, Africa, and the Australia Pacific. It operates through Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments. The company engages in the acquisition of existing stream and royalty interests; and the financing of projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which consists of gold, silver, copper, nickel, zinc, lead, molybdenum, diamonds, uranium, iron, platinum, palladium, rhodium, lithium, titanium, cobalt, barite, tungsten, and coal. Its properties are located in Canada, Chile, the Dominican Republic, the United States, Zambia, Australia, Ghana, Brazil, Mexico, Bolivia, Argentina, Nicaragua, Macedonia, Botswana, Spain, and internationally. Royal Gold, Inc. was incorporated in 1981 and is based in Denver, Colorado.

How this company scores

ExcellentMetricSide Score: 81/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (16/25).

Profitability18/25

Growth22/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsRising earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 28.9x5y range 22.7x – 36.5x

Currently near its 20-quarter median.

P/S · 13.8x5y range 9.8x – 15.5x

Currently near its 20-quarter median.

P/B · 2.8x5y range 2.2x – 3.8x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Share Dilution

Red Flag

Shares outstanding increased 29.1% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $21.32B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.55B
Q. Revenue: $450.54M
TTM EBITDA: $1.25B
TTM Op. Income: $950.25M
Q. Op. Income: $279.94M
TTM Net Income: $737.96M
Q. Net Income: $236.39M
EPS: $2.78
Shares Out.: $84.78M

$1.55B in TTM revenue grew 93.5% YoY, reaching $450.54M last quarter. TTM EBITDA of $1.25B and TTM operating income of $950.25M show growth is flowing through to the bottom line. TTM net income of $737.96M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 64.6%
EBITDA Margin: 83.5%
Op. Margin: 62.1%
Net Margin: 52.5%

Op. margin of 62.1% is down 5.5% YoY — costs are rising relative to revenue. Net margin at 52.5% and gross margin of 64.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 8% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 28.9x
P/S Ratio: 13.8x
P/B Ratio: 2.8x

At 28.9x P/E, the stock trades within typical market levels. P/S of 13.8x and P/B of 2.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $9.45B
Cash: $182.47M
Long-Term Debt: $395.89M
Book Value: $7.59B
D/E Ratio: 0.1
Debt/EBITDA: 1.1

With $9.45B in assets and $395.89M in long-term debt, D/E is 0.1and book value is $7.59B — a conservative capital structure with a cushion to weather downturns. Across the last 4 quarters, debt/equity has fallen for 3 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $335.15M
TTM Free Cash Flow: $1.04B
FCF Margin: 67.5%
FCF / Net Income: 1.4

TTM FCF of $1.04B on $335.15M in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.