Royal Gold Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Royal Gold Inc has an operating margin of 59.8%, meaning the company retains $60 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 50.1% the prior year.
Royal Gold Inc's revenue surged 18.8% year-over-year to $719.4M, reflecting rapid business expansion. This strong growth earns a score of 82/100.
Royal Gold Inc carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.23, Royal Gold Inc holds $3.23 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Royal Gold Inc's ROE of 10.7% shows moderate profitability relative to equity, earning a score of 43/100. This is up from 8.3% the prior year.
Royal Gold Inc scores 56.59, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($24.1B) relative to total liabilities ($260.9M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Royal Gold Inc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Royal Gold Inc generates $1.59 in operating cash flow ($529.5M OCF vs $332.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows Royal Gold Inc (RGLD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Royal Gold Inc generated $719.4M in revenue in fiscal year 2024. This represents an increase of 18.8% from the prior year.
Royal Gold Inc's EBITDA was $574.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 22.7% from the prior year.
Royal Gold Inc reported $332.0M in net income in fiscal year 2024. This represents an increase of 38.7% from the prior year.
Royal Gold Inc held $195.5M in cash against $0 in long-term debt as of fiscal year 2024.
Royal Gold Inc had 66M shares outstanding in fiscal year 2024. This represents an increase of 0.1% from the prior year.
Royal Gold Inc's gross margin was 65.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 8.8 percentage points from the prior year.
Royal Gold Inc's operating margin was 59.8% in fiscal year 2024, reflecting core business profitability. This is up 9.7 percentage points from the prior year.
Royal Gold Inc's net profit margin was 46.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 6.6 percentage points from the prior year.
Royal Gold Inc's ROE was 10.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the prior year.
RGLD Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $252.1M+20.2% | $209.6M+8.4% | $193.4M-4.5% | $202.6M+16.3% | $174.1M+16.9% | $148.9M-2.5% | $152.7M+10.1% | $138.6M |
| Cost of Revenue | $31.4M+29.8% | $24.2M-1.3% | $24.5M+0.4% | $24.4M+0.9% | $24.2M+11.1% | $21.8M+4.6% | $20.8M-2.7% | $21.4M |
| Gross Profit | $185.4M+21.8% | $152.2M+13.4% | $134.3M-5.7% | $142.4M+26.4% | $112.7M+29.5% | $87.0M-2.8% | $89.5M+18.4% | $75.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $10.2M-0.5% | $10.3M-7.2% | $11.1M+24.2% | $8.9M-15.2% | $10.5M-7.9% | $11.4M+17.2% | $9.7M-1.9% | $9.9M |
| Operating Income | $162.3M+14.5% | $141.8M+15.2% | $123.1M-7.7% | $133.4M+30.7% | $102.1M+35.2% | $75.5M-5.2% | $79.7M+21.5% | $65.6M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $28.7M+172.4% | $10.5M+1.4% | $10.4M-60.2% | $26.1M+37.3% | $19.0M-29.7% | $27.0M+102.4% | $13.4M+24.2% | $10.8M |
| Net Income | $126.8M-4.2% | $132.3M+16.6% | $113.5M+5.7% | $107.4M+32.3% | $81.2M+72.2% | $47.2M-24.9% | $62.8M+27.2% | $49.3M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
RGLD Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.5B+25.0% | $3.6B+3.3% | $3.5B+2.0% | $3.4B+3.8% | $3.3B-1.3% | $3.3B-1.4% | $3.4B-1.1% | $3.4B |
| Current Assets | $287.4M-16.0% | $342.0M+8.1% | $316.5M+15.0% | $275.3M+106.2% | $133.5M-30.8% | $193.0M+15.3% | $167.4M+2.2% | $163.8M |
| Cash & Equivalents | $172.8M-30.4% | $248.2M+3.1% | $240.8M+23.2% | $195.5M+163.4% | $74.2M-46.2% | $137.9M+32.4% | $104.2M+1.2% | $102.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.0B+313.6% | $253.5M+4.2% | $243.2M-6.8% | $260.9M-9.3% | $287.8M-26.2% | $389.9M-15.3% | $460.4M-14.0% | $535.4M |
| Current Liabilities | $99.5M+30.8% | $76.1M+14.0% | $66.8M-21.6% | $85.2M-30.4% | $122.4M+58.6% | $77.1M+6.5% | $72.4M+2.2% | $70.8M |
| Long-Term Debt | $770.2M | N/A | N/A | $0 | $0-100.0% | $146.2M-40.6% | $246.0M-23.3% | $320.8M |
| Total Equity | $3.4B+3.0% | $3.3B+3.2% | $3.2B+2.7% | $3.1B+5.1% | $3.0B+2.0% | $2.9B+0.8% | $2.9B+1.4% | $2.8B |
| Retained Earnings | $1.2B+9.0% | $1.1B+10.5% | $973.9M+9.4% | $890.0M+19.9% | $742.3M+8.0% | $687.4M+3.1% | $666.5M+5.8% | $630.0M |
RGLD Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $174.0M+13.9% | $152.8M+12.1% | $136.4M-3.3% | $141.1M+24.3% | $113.5M-17.9% | $138.3M+36.8% | $101.1M+3.0% | $98.1M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$985.9M-774.4% | -$112.8M-93.4% | -$58.3M-24.3% | -$46.9M+7.9% | -$50.9M-315.9% | $23.6M+1179650.0% | -$2K+66.7% | -$6K |
| Financing Cash Flow | $736.6M+2357.6% | -$32.6M+0.6% | -$32.8M-23.7% | -$26.5M+79.0% | -$126.3M+1.4% | -$128.1M-28.3% | -$99.8M+1.5% | -$101.4M |
| Dividends Paid | $29.6M0.0% | $29.6M+0.1% | $29.6M+12.5% | $26.3M0.0% | $26.3M+0.1% | $26.3M+6.7% | $24.6M0.0% | $24.6M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
RGLD Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.6%+1.0pp | 72.6%+3.2pp | 69.4%-0.9pp | 70.3%+5.6pp | 64.7%+6.3pp | 58.4%-0.2pp | 58.6%+4.1pp | 54.5% |
| Operating Margin | 64.4%-3.3pp | 67.7%+4.0pp | 63.6%-2.2pp | 65.9%+7.2pp | 58.6%+7.9pp | 50.7%-1.5pp | 52.2%+4.9pp | 47.3% |
| Net Margin | 50.3%-12.8pp | 63.1%+4.5pp | 58.7%+5.6pp | 53.0%+6.4pp | 46.7%+15.0pp | 31.7%-9.4pp | 41.1%+5.5pp | 35.6% |
| Return on Equity | 3.7%-0.3pp | 4.0%+0.5pp | 3.5%+0.1pp | 3.4%+0.7pp | 2.7%+1.1pp | 1.6%-0.6pp | 2.2%+0.4pp | 1.7% |
| Return on Assets | 2.8%-0.9pp | 3.7%+0.4pp | 3.3%+0.1pp | 3.2%+0.7pp | 2.5%+1.1pp | 1.4%-0.5pp | 1.9%+0.4pp | 1.5% |
| Current Ratio | 2.89-1.6 | 4.49-0.2 | 4.74+1.5 | 3.23+2.1 | 1.09-1.4 | 2.50+0.2 | 2.310.0 | 2.31 |
| Debt-to-Equity | 0.23+0.1 | 0.080.0 | 0.08+0.1 | 0.000.0 | 0.00-0.1 | 0.05-0.0 | 0.09-0.0 | 0.11 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Royal Gold Inc's annual revenue?
Royal Gold Inc (RGLD) reported $719.4M in total revenue for fiscal year 2024. This represents a 18.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Royal Gold Inc's revenue growing?
Royal Gold Inc (RGLD) revenue grew by 18.8% year-over-year, from $605.7M to $719.4M in fiscal year 2024.
Is Royal Gold Inc profitable?
Yes, Royal Gold Inc (RGLD) reported a net income of $332.0M in fiscal year 2024, with a net profit margin of 46.2%.
What is Royal Gold Inc's EBITDA?
Royal Gold Inc (RGLD) had EBITDA of $574.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Royal Gold Inc have?
As of fiscal year 2024, Royal Gold Inc (RGLD) had $195.5M in cash and equivalents against $0 in long-term debt.
What is Royal Gold Inc's gross margin?
Royal Gold Inc (RGLD) had a gross margin of 65.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Royal Gold Inc's operating margin?
Royal Gold Inc (RGLD) had an operating margin of 59.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Royal Gold Inc's net profit margin?
Royal Gold Inc (RGLD) had a net profit margin of 46.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Royal Gold Inc's return on equity (ROE)?
Royal Gold Inc (RGLD) has a return on equity of 10.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Royal Gold Inc's operating cash flow?
Royal Gold Inc (RGLD) generated $529.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Royal Gold Inc's total assets?
Royal Gold Inc (RGLD) had $3.4B in total assets as of fiscal year 2024, including both current and long-term assets.
How many shares does Royal Gold Inc have outstanding?
Royal Gold Inc (RGLD) had 66M shares outstanding as of fiscal year 2024.
What is Royal Gold Inc's current ratio?
Royal Gold Inc (RGLD) had a current ratio of 3.23 as of fiscal year 2024, which is generally considered healthy.
What is Royal Gold Inc's debt-to-equity ratio?
Royal Gold Inc (RGLD) had a debt-to-equity ratio of 0.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Royal Gold Inc's return on assets (ROA)?
Royal Gold Inc (RGLD) had a return on assets of 9.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Royal Gold Inc's Altman Z-Score?
Royal Gold Inc (RGLD) has an Altman Z-Score of 56.59, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Royal Gold Inc's Piotroski F-Score?
Royal Gold Inc (RGLD) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Royal Gold Inc's earnings high quality?
Royal Gold Inc (RGLD) has an earnings quality ratio of 1.59x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Royal Gold Inc?
Royal Gold Inc (RGLD) scores 85 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.