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RGLDRoyal Gold, Inc.
$234.64$19.9B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
RGLD logo

Royal Gold, Inc.

RGLD
NASDAQ · Gold
$234.64
At close - Oct 2, 4:00 PM EDT - USD
Market Cap$19.91B
P/E35.1x
52W High$306.25
Volume439.24K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Streaming Model Drives Record Cash Flow Growth

Royal Gold's asset-light streaming model is delivering exceptional financial performance, with revenue surging 114.9% year-over-year in 2026Q2 to $450.5M and operating cash flow reaching $628.7M, 2.66 times net income. The company's strategic acquisition in 20...

GrowthAccelerating
ProfitabilityStrong
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

RGLD price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

8/12 Beats

EPS beat 8 of last 12 quarters

02

Valuation risk

+35% Peers

P/E is 35% above peer median

03

Market leadership

RS 64 · Avg

Average momentum (RS Rating: 64)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 5
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth accelerated to 114.9% year-over-year in 2026Q2, with operating margin expanding to 62.1%, though gross margin compressed from 87.2% to 64.6% over five quarters.

Analyst Consensus+28.5% target
Buy(28 analysts)
16 Buy11 Hold1 Sell

The Bull Case

Upside Catalysts

Precious Metals Exposure

Royal Gold provides investors with exposure to precious metals while mitigating risks associated with traditional producers.

Strong Financial Reporting

The company has demonstrated consistent financial performance, as evidenced by its recent quarterly and annual results.

Industry Leadership

Royal Gold is recognized as a gold standard in precious metal investing, highlighting its strong market position.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
RGLD+6.97%
S&P 500 (^GSPC)+12.66%
1-Year Return
RGLD+19.07%
S&P 500 (^GSPC)+15.01%
3-Year Return
RGLD+133.61%
S&P 500 (^GSPC)+82.41%
5-Year Return
RGLD+156.13%
S&P 500 (^GSPC)+82.24%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
35.1x
Forward P/EExpansion
22.5x
EV/EBITDA100th %ile
24.5x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
35.1x
31.1x
100th· High
EV/EBITDA
24.5x
16.8x
100th· High
Price/FCF
N/A
20.3x
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$113.17-51.8%
Base (Fair)$193.86-17.4%
Bull$238.45+1.6%
$113.17 Bear$193.86 Base$238.45 Bull
Current Market Price: $234.64
Trades at a 21.0% premium to Base DCF ($193.86)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$1.03B+44.6% YoY
Net income
$466M+40.4% YoY
Free cash flow
-$460M-207.7% YoY
Operating margin
64.5%+4.2 pts YoY
ROIC (TTM)9.2%
Avg ROIC 5Y-
ROE (TTM)9%
Piotroski Score4 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate8/12 (67%)
Revenue Beat Rate7/12 (58%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 5, 2026
$2.56+0.4%
vs $2.55
$451M-1.8%
vs $459M
Q2 2026
May 6, 2026
$3.11+12.3%
vs $2.77
$469M-0.6%
vs $472M
Q1 2026
Feb 18, 2026
$1.92-25.9%
vs $2.59
$375M-4.2%
vs $392M
Q4 2025
Nov 5, 2025
$2.06-4.2%
vs $2.15
$252M-0.8%
vs $254M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Business Wire·1d ago
Royal Gold to Participate in the Renmark Financial Communications Virtual Non-Deal Roadshow Series on Thursday, October 15, 2026

DENVER--(BUSINESS WIRE)--Royal Gold to Participate in the Renmark Financial Communications Virtual Non-Deal Roadshow Series on Thursday, October 15, 2026.

Seeking Alpha·4d ago
Royal Gold, Inc. (RGLD) Presents at Mining Forum Americas 2026 Transcript

Royal Gold, Inc. (RGLD) Presents at Mining Forum Americas 2026 Transcript

MarketBeat·4d ago
Royal Gold Details Transformational Portfolio Shift, Growth Pipeline at Conference

Royal Gold NASDAQ: RGLD has reshaped its portfolio following its Sandstorm acquisition and a Kansanshi transaction, emphasizing reduced asset concentration, a longer reserve life and a broader pipeline of development-stage growth assets, President and CEO Bill Heissenbuttel said at a company event.

Seeking Alpha·6d ago
My Biggest Bet: 3 Dividend Investments Boosted By 2 Major Macro Tailwinds

While I am a big believer in a certain degree of diversification, I have significantly overweighted my portfolio in 3 investments. These investments are targeting 2 major macro tailwinds that should help drive superior long-term risk-adjusted performance in these picks. I detail the three investments that I am betting big on, as well as the risks.

Filtered for Royal Gold, Inc.More Headlines
04

Compare before deciding

Benchmark RGLD against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Royal Gold, Inc. (RGLD)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
RGLD logoRGLDRoyal Gold, Inc.Current
$234.64$19.91B35.0744.57%45.25%9.02%0.73%
WPM logoWPMWheaton Precious Metals Corp.
$136.28$61.89B41.4283.33%64.66%22.96%—
FNV logoFNVFranco-Nevada Corporation
$239.30$46.15B40.8463.69%63.79%19.08%—
OR logoOROR Royalties Inc.
$34.47$6.46B31.0547.52%78.04%19.57%—
NEM logoNEMNewmont Corporation
$115.56$121.76B18.0319.08%38.06%24.89%—
AEM logoAEMAgnico Eagle Mines Limited
$183.69$93.01B20.7343.71%40.43%22.64%—

Compare RGLD vs Peers

Royal Gold, Inc. (RGLD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WPM

Most directly comparable listed peer for RGLD.

Scale Benchmark

vs NEM

Larger-name benchmark to compare RGLD against a more recognizable public peer.

Peer Set

Compare Top 5

vs WPM, FNV, OR, NEM

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

RGLD SEC Filings & Documents

Royal Gold, Inc. (RGLD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 5, 2026·SEC

Material company update

Jul 21, 2026·SEC

Material company update

May 26, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 19, 2026·SEC

FY 2025

Feb 13, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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RGLD Frequently Asked Questions

Royal Gold, Inc. (RGLD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Royal Gold, Inc.'s revenue?

Royal Gold, Inc. (RGLD) reported $1.55B in revenue for fiscal year 2025. This represents a 18767% increase from $8.2M in 1996.

How fast is Royal Gold, Inc. growing?

Royal Gold, Inc. (RGLD) grew revenue by 44.6% over the past year. This is strong growth.

Is RGLD profitable?

Yes, Royal Gold, Inc. (RGLD) is profitable, generating $738.0M in net income for fiscal year 2025 (45.2% net margin).

Dividend & Returns
Does RGLD pay dividends?

Yes, Royal Gold, Inc. (RGLD) pays a dividend with a yield of 0.73%. This makes it attractive for income-focused investors.

What is RGLD's return on equity?

Royal Gold, Inc. (RGLD) has a return on equity (ROE) of 9.0%. This is below average, suggesting room for improvement.

What is Royal Gold, Inc.'s free cash flow?

Royal Gold, Inc. (RGLD) generated $344.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in RGLD back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →