Royal Gold Inc Financials
Royal Gold Inc (RGLD) reported $1.0B in revenue for fiscal year 2025, up 43.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Royal Gold’s dominant mechanic is high cash-generating margins funding a rapid asset build that also draws on external financing.
FY2025 cash conversion remained favorable: operating cash flow reached$705M versus net income of$466M , so reported earnings translated into cash. Yet investing absorbed$1.4B while financing supplied$752M , showing that the enlarged asset base was not funded by earnings alone.
Revenue grew
The balance-sheet buildout was much faster than the income stream: total assets nearly tripled to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Royal Gold Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Royal Gold Inc has an operating margin of 61.9%, meaning the company retains $62 of operating profit per $100 of revenue. This strong profitability earns a score of 95/100, reflecting efficient cost management and pricing power. This is up from 59.8% the prior year.
Royal Gold Inc's revenue surged 43.2% year-over-year to $1.0B, reflecting rapid business expansion. This strong growth earns a score of 89/100.
Royal Gold Inc has a moderate D/E ratio of 0.13. This balance of debt and equity financing earns a leverage score of 50/100.
With a current ratio of 3.12, Royal Gold Inc holds $3.12 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 78/100.
Not available for Royal Gold Inc, and counted as zero in the overall score.
Royal Gold Inc earns a strong 6.5% return on equity (ROE), meaning it generates $7 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 68/100. This is down from 10.7% the prior year.
Royal Gold Inc scores 6.19, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($21.9B) relative to total liabilities ($2.3B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Royal Gold Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Royal Gold Inc generates $1.51 in operating cash flow ($704.8M OCF vs $466.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Royal Gold Inc generated $1.0B in revenue in fiscal year 2025. This represents an increase of 43.2% from the prior year.
Royal Gold Inc's EBITDA was $815.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 41.9% from the prior year.
Royal Gold Inc reported $466.3M in net income in fiscal year 2025. This represents an increase of 40.4% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Royal Gold Inc held $233.7M in cash against $895.4M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Royal Gold Inc's gross margin was 69.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.8 percentage points from the prior year.
Royal Gold Inc's operating margin was 61.9% in fiscal year 2025, reflecting core business profitability. This is up 2.2 percentage points from the prior year.
Royal Gold Inc's net profit margin was 45.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.9 percentage points from the prior year.
Royal Gold Inc's ROE was 6.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.1 percentage points from the prior year.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
RGLD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5B | $1.0B+43.2% | $719.4M+18.8% | $605.7M+0.4% | $603.2M-7.7% | $653.6M+31.0% | $498.8M+17.9% | $423.1M-7.8% | $459.0M+4.1% | $440.8M+52.6% | $288.8M+18.1% | $244.6M+7.3% | $228.0M | N/A | N/A | N/A |
| Cost of Revenue | $202.7M | $130.9M+34.3% | $97.5M+7.7% | $90.5M-4.4% | $94.6M-3.9% | $98.5M+17.4% | $83.9M+8.2% | $77.5M-7.5% | $83.8M-3.9% | $87.3M | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $1.0B | $714.3M+51.6% | $471.2M+37.2% | $343.4M+6.3% | $323.1M-3.0% | $333.0M+41.1% | $236.1M+32.2% | $178.6M-14.7% | $209.3M+8.9% | $192.2M-33.4% | $288.8M+18.1% | $244.6M | N/A | N/A | N/A | N/A |
| SG&A Expenses | $58.8M | $49.2M+20.2% | $40.9M+3.0% | $39.8M+14.9% | $34.6M+18.1% | $29.3M-2.9% | $30.2M-1.0% | $30.5M-14.0% | $35.5M+6.3% | $33.4M+5.1% | $31.7M+27.5% | $24.9M+17.4% | $21.2M-11.8% | $24.0M+16.4% | $20.6M-2.2% | $21.1M |
| Operating Income | $950.2M | $638.2M+48.4% | $429.9M+41.8% | $303.2M+6.9% | $283.7M-13.6% | $328.4M+65.1% | $198.9M+41.4% | $140.7M+288.8% | -$74.5M-151.1% | $145.9M+2930.4% | $4.8M-94.5% | $87.2M-19.8% | $108.7M-36.5% | $171.2M+9.3% | $156.6M+31.7% | $118.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $1.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $165.0M | $102.3M+9.3% | $93.6M+122.8% | $42.0M+27.6% | $32.9M-38.1% | $53.2M+1556.6% | -$3.7M-120.9% | $17.5M+18.5% | $14.8M-44.1% | $26.4M-56.4% | $60.7M+534.3% | $9.6M-50.8% | $19.5M-69.5% | $63.8M+16.5% | $54.7M+40.4% | $39.0M |
| Net Income | $738.0M | $466.3M+40.4% | $332.0M+38.7% | $239.4M+0.2% | $239.0M-12.8% | $274.0M+37.5% | $199.3M+112.5% | $93.8M+182.9% | -$113.1M-211.4% | $101.5M+231.6% | -$77.1M-248.5% | $52.0M-18.1% | $63.5M-13.5% | $73.4M-25.3% | $98.3M+27.2% | $77.3M |
Not reported in any period shown, so not listed: R&D Expenses, EPS (Diluted).
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RGLD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $9.5B+181.2% | $3.4B+0.9% | $3.4B-4.9% | $3.5B+28.2% | $2.8B-0.3% | $2.8B+8.7% | $2.5B-5.1% | $2.7B-13.3% | $3.1B+0.8% | $3.1B+5.2% | $2.9B+0.9% | $2.9B-0.5% | $2.9B+22.3% | $2.4B+24.9% | $1.9B |
| Current Assets | $377.4M+37.1% | $275.3M+64.4% | $167.4M-9.9% | $185.8M-14.0% | $216.0M-40.4% | $362.1M+134.1% | $154.7M+22.9% | $125.8M-12.4% | $143.6M-14.5% | $167.9M-78.9% | $797.0M+8.3% | $736.0M-1.1% | $744.5M+67.2% | $445.2M+163.0% | $169.3M |
| Cash & Equivalents | $233.7M+19.6% | $195.5M+87.7% | $104.2M-12.2% | $118.6M-17.4% | $143.6M-55.0% | $319.1M+167.1% | $119.5M+34.6% | $88.8M+3.4% | $85.8M-26.4% | $116.6M-84.3% | $742.8M+12.6% | $659.5M-0.7% | $664.0M+76.9% | $375.5M+228.9% | $114.2M |
| Total Liabilities | $2.3B+793.8% | $260.9M-43.3% | $460.4M-41.1% | $781.1M+401.3% | $155.8M-66.4% | $464.2M+24.2% | $373.7M-30.9% | $540.7M-30.1% | $773.8M-1.3% | $783.8M+56.4% | $501.3M-3.4% | $519.0M-2.9% | $534.7M+4.2% | $512.9M+23.6% | $415.0M |
| Current Liabilities | $120.9M+42.0% | $85.2M+17.6% | $72.4M+13.9% | $63.6M+3.5% | $61.4M+41.0% | $43.6M+29.6% | $33.6M-34.6% | $51.4M+49.9% | $34.3M+32.6% | $25.9M+3.5% | $25.0M+11.0% | $22.5M-35.9% | $35.1M+130.7% | $15.2M-47.3% | $28.9M |
| Long-Term Debt | $895.4M | N/A | $246.0M-57.0% | $571.6M | N/A | $300.4M+40.0% | $214.6M-38.9% | $351.0M-40.1% | $586.2M-2.4% | $600.7M+91.4% | $313.9M+0.6% | $311.9M+3.2% | $302.3M+3.1% | $293.2M+39.3% | $210.5M |
| Total Equity | $7.2B+129.5% | $3.1B+8.0% | $2.9B+5.4% | $2.7B+5.9% | $2.6B+13.9% | $2.3B+6.3% | $2.1B+1.6% | $2.1B-7.6% | $2.3B+2.1% | $2.2B-5.3% | $2.4B-0.1% | $2.4B+0.2% | $2.3B+27.8% | $1.8B+25.9% | $1.5B |
| Retained Earnings | $1.2B+37.9% | $890.0M+33.5% | $666.5M+26.4% | $527.3M+38.1% | $381.9M+524.8% | $61.1M+193.0% | -$65.7M+26.9% | -$89.9M-202.1% | $88.0M+81.2% | $48.6M-73.8% | $185.1M-2.5% | $189.9M+4.7% | $181.3M+13.2% | $160.1M+60.1% | $100.0M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
RGLD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.0B | $704.8M+33.1% | $529.5M+27.3% | $415.8M-0.4% | $417.3M-9.6% | $461.9M+35.5% | $340.8M+34.6% | $253.2M-23.0% | $328.8M+23.2% | $266.9M+57.6% | $169.3M-11.9% | $192.1M+30.5% | $147.2M-14.7% | $172.6M+6.5% | $162.2M+10.3% | $147.0M |
| Investing Cash Flow | -$1.3B | -$1.4B-1726.2% | -$77.7M-2645.8% | -$2.8M+99.7% | -$922.9M-121.3% | -$417.0M-172.8% | -$152.9M-2632.1% | -$5.6M+47.2% | -$10.6M+94.7% | -$200.1M+80.2% | -$1.0B-1871.6% | -$51.2M | N/A | N/A | N/A | -$306.3M |
| Financing Cash Flow | $220.5M | $751.9M+308.6% | -$360.5M+15.7% | -$427.4M-188.9% | $480.6M+269.7% | -$283.2M-2508.2% | $11.8M+105.4% | -$216.8M+31.2% | -$315.3M-223.3% | -$97.5M-145.6% | $214.0M+471.6% | -$57.6M | N/A | N/A | N/A | -$51.4M |
| Dividends Paid | $139.8M | $118.5M+12.6% | $105.2M+6.8% | $98.6M+7.2% | $91.9M+16.7% | $78.7M+10.2% | $71.5M+5.9% | $67.5M+5.2% | $64.1M+4.4% | $61.4M+4.6% | $58.7M+4.8% | $56.1M+5.0% | $53.4M+21.5% | $43.9M+48.9% | $29.5M+33.3% | $22.1M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RGLD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.3%+3.8pp | 65.5%+8.8pp | 56.7%+3.1pp | 53.6%+2.6pp | 50.9%+3.6pp | 47.3%+5.1pp | 42.2%-3.4pp | 45.6%+2.0pp | 43.6%-56.4pp | 100.0%0.0pp | 100.0% | N/A | N/A | N/A | N/A |
| Operating Margin | 61.9%+2.2pp | 59.8%+9.7pp | 50.1%+3.0pp | 47.0%-3.2pp | 50.2%+10.4pp | 39.9%+6.6pp | 33.3%+49.5pp | -16.2%-49.4pp | 33.1%+31.4pp | 1.7%-34.0pp | 35.7%-12.0pp | 47.7% | N/A | N/A | N/A |
| Net Margin | 45.3%-0.9pp | 46.2%+6.6pp | 39.5%-0.1pp | 39.6%-2.3pp | 41.9%+2.0pp | 40.0%+17.8pp | 22.2%+46.8pp | -24.6%-47.7pp | 23.0%+49.7pp | -26.7%-48.0pp | 21.3%-6.6pp | 27.8% | N/A | N/A | N/A |
| Return on Equity | 6.5%-4.1pp | 10.7%+2.4pp | 8.3%-0.4pp | 8.7%-1.9pp | 10.6%+1.8pp | 8.8%+4.4pp | 4.4%+9.8pp | -5.4%-9.8pp | 4.5%+7.9pp | -3.5%-5.7pp | 2.2%-0.5pp | 2.7%-0.4pp | 3.1%-2.2pp | 5.3%+0.1pp | 5.3% |
| Return on Assets | 4.9%-4.9pp | 9.8%+2.7pp | 7.1%+0.4pp | 6.8%-3.2pp | 9.9%+2.7pp | 7.2%+3.5pp | 3.7%+7.9pp | -4.2%-7.5pp | 3.3%+5.8pp | -2.5%-4.3pp | 1.8%-0.4pp | 2.2%-0.3pp | 2.5%-1.6pp | 4.1%+0.1pp | 4.1% |
| Current Ratio | 3.12-0.1x | 3.23+0.9x | 2.31-0.6x | 2.92-0.6x | 3.52-4.8x | 8.31+3.7x | 4.60+2.2x | 2.45-1.7x | 4.19-2.3x | 6.50-25.4x | 31.92-0.8x | 32.70+11.5x | 21.22-8.1x | 29.27+23.4x | 5.87 |
| Debt-to-Equity | 0.130.0x | 0.080.0x | 0.09-0.1x | 0.21+0.1x | 0.06-0.1x | 0.130.0x | 0.10-0.1x | 0.17-0.1x | 0.260.0x | 0.27+0.1x | 0.130.0x | 0.130.0x | 0.130.0x | 0.160.0x | 0.14 |
Not reported in any period shown, so not listed: FCF Margin.
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Where Royal Gold Inc Ranks
Frequently Asked Questions
What is Royal Gold Inc's annual revenue?
Royal Gold Inc (RGLD) reported $1.0B in total revenue for fiscal year 2025. This represents a 43.2% 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 43.2% year-over-year, from $719.4M to $1.0B in fiscal year 2025.
Is Royal Gold Inc profitable?
Yes, Royal Gold Inc (RGLD) reported a net income of $466.3M in fiscal year 2025, with a net profit margin of 45.3%.
What is Royal Gold Inc's EBITDA?
Royal Gold Inc (RGLD) had EBITDA of $815.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Royal Gold Inc have?
As of fiscal year 2025, Royal Gold Inc (RGLD) had $233.7M in cash and equivalents against $895.4M in long-term debt.
What is Royal Gold Inc's gross margin?
Royal Gold Inc (RGLD) had a gross margin of 69.3% in fiscal year 2025, 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 61.9% in fiscal year 2025, 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 45.3% in fiscal year 2025, 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 6.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Royal Gold Inc's operating cash flow?
Royal Gold Inc (RGLD) generated $704.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Royal Gold Inc's total assets?
Royal Gold Inc (RGLD) had $9.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Royal Gold Inc's current ratio?
Royal Gold Inc (RGLD) had a current ratio of 3.12 as of fiscal year 2025, 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 0.13 as of fiscal year 2025, 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 4.9% for fiscal year 2025, 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 6.19, 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 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 1.51x, 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 63 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.