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OR logoOR Royalties Inc.(OR)Earnings, Financials & Key Ratios

OR•NYSE
$38.74
$7.26B mkt cap·34.9× P/E·Price updated May 6, 2026
SectorBasic MaterialsIndustryGoldSub-IndustryGold royalty and streaming companies
AboutOR Royalties, Inc. engages in the acquisition, mining, and exploration of precious metals, streams, and other royalties. It holds interests in the Canadian Malartic mine. The company was founded on April 29, 2014 and is headquartered in Montreal, Canada.Show more
  • Revenue$282M+47.5%
  • EBITDA$243M+117.4%
  • Net Income$210M+1188.0%
  • EPS (Diluted)1.11+825.0%
  • Gross Margin83.38%-13.6%
  • EBITDA Margin86.26%+47.4%
  • Operating Margin72.92%+78.0%
  • Net Margin74.3%+773.1%
  • ROE16.01%+1099.3%
  • ROIC12.22%+168.0%
  • Debt/Equity0.01-92.6%
  • Interest Coverage45.20+844.8%
Technical→

OR Key Insights

OR Royalties Inc. (OR) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y profit CAGR of 65.5%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓FCF machine: 75.2% free cash flow margin

✗Weaknesses

  • ✗Weak 3Y average ROE of 4.9%
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

OR Price & Volume

OR Royalties Inc. (OR) stock price & volume — 10-year historical chart

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OR Growth Metrics

OR Royalties Inc. (OR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years20.03%
5 Years5.71%
3 Years20.67%
TTM36.38%

Profit CAGR

10 Years21.97%
5 Years65.5%
3 Years-
TTM895.82%

EPS CAGR

10 Years13.24%
5 Years61.83%
3 Years-
TTM899.21%

Return on Capital

10 Years1.83%
5 Years6.41%
3 Years7.81%
Last Year14.18%

OR Recent Earnings

OR Royalties Inc. (OR) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 7/12 qtrs (58%)
Q1 2026Latest
Feb 18, 2026
EPS
$0.32
Est $0.31
+3.2%
Revenue
$90M
Est $91M
-0.4%
Q4 2025
Nov 5, 2025
EPS
$0.22
Est $0.19
+15.8%
Revenue
$51M
Est $71M
-27.8%
Q3 2025
Aug 5, 2025
EPS
$0.13
Est $0.17
-23.5%
Revenue
$44M
Est $60M
-26.4%
Q2 2025
May 7, 2025
EPS
$0.16
Est $0.13
+23.1%
Revenue
$39M
Est $56M
-30.8%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 18, 2026
$0.32vs $0.31+3.2%
$90Mvs $91M-0.4%
Q4 2025Nov 5, 2025
$0.22vs $0.19+15.8%
$51Mvs $71M-27.8%
Q3 2025Aug 5, 2025
$0.13vs $0.17-23.5%
$44Mvs $60M-26.4%
Q2 2025May 7, 2025
$0.16vs $0.13+23.1%
$39Mvs $56M-30.8%
Based on last 12 quarters of dataView full earnings history →

OR Peer Comparison

OR Royalties Inc. (OR) competitors in Gold royalty and streaming companies — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
WPM logoWPMWheaton Precious Metals Corp.Direct Competitor61.1B134.5740.9083.33%63.59%18.53%0.00
RGLD logoRGLDRoyal Gold, Inc.Direct Competitor16.45B236.8835.4144.57%48.53%11.85%0.13
FNV logoFNVFranco-Nevada CorporationDirect Competitor45.21B234.5040.0266.42%61.07%16.25%0.00
EMX logoEMXEMX Royalty CorporationDirect Competitor453.29M4.16-144.4417.34%18.07%4.15%0.30
GROY logoGROYGold Royalty Corp.Direct Competitor617.38M3.52-149.1554.51%-26.46%-0.7%0.00
MTA logoMTAMetalla Royalty & Streaming Ltd.Product Competitor661.81M7.15-29.79-18.73%-223.01%-6.72%0.09
NEM logoNEMNewmont CorporationSupply Chain127.53B115.1017.9619.08%30.54%15.58%0.01
AEM logoAEMAgnico Eagle Mines LimitedSupply Chain95.09B189.8121.4243.71%37.48%19.25%0.01

Compare OR vs Peers

OR Royalties Inc. (OR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WPM

Most directly comparable listed peer for OR.

Scale Benchmark

vs NEM

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

Peer Set

Compare Top 5

vs WPM, RGLD, FNV, EMX

OR Income Statement

OR Royalties Inc. (OR) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue213.22M490.47M392.6M213.63M176.37M160.48M183.23M191.16M282M
Revenue Growth %240.18%130.04%-19.95%-45.59%-17.44%-9.01%14.17%4.33%47.52%
Cost of Goods Sold153.71M423.92M309.89M109.31M67.46M49.68M12.34M6.74M46.87M
COGS % of Revenue72.09%86.43%78.93%51.17%38.25%30.96%6.73%3.52%16.62%
Gross Profit
59.51M▲ 0%
66.56M▲ 11.8%
82.71M▲ 24.3%
104.33M▲ 26.1%
108.92M▲ 4.4%
110.8M▲ 1.7%
170.89M▲ 54.2%
184.42M▲ 7.9%
235.12M▲ 27.5%
Gross Margin %27.91%13.57%21.07%48.83%61.75%69.04%93.27%96.48%83.38%
Gross Profit Growth %15.8%11.85%24.27%26.14%4.4%1.73%54.24%7.91%27.49%
Operating Expenses45.07M22.86M265.94M62.62M20.95M20.2M106.43M106.09M29.49M
OpEx % of Revenue21.14%4.66%67.74%29.31%11.88%12.58%58.09%55.5%10.46%
Selling, General & Admin26.18M18.16M23.68M25.9M15.38M14.9M24.34M18.3M29.49M
SG&A % of Revenue12.28%3.7%6.03%12.12%8.72%9.28%13.29%9.57%10.46%
Research & Development18.71M4.53M6.12M10.29M4.17M3.96M4.57M5.63M0
R&D % of Revenue8.77%0.92%1.56%4.82%2.36%2.47%2.5%2.95%-
Other Operating Expenses00236.13M26.43M1.41M1.34M77.51M82.17M0
Operating Income
-70.44M▲ 0%
-113.53M▼ 61.2%
-183.23M▼ 61.4%
41.7M▲ 122.8%
87.96M▲ 110.9%
90.6M▲ 3.0%
64.46M▼ 28.9%
78.32M▲ 21.5%
205.63M▲ 162.5%
Operating Margin %-33.03%-23.15%-46.67%19.52%49.87%56.46%35.18%40.97%72.92%
Operating Income Growth %-342.14%-61.19%-61.39%122.76%110.93%3%-28.85%21.5%162.54%
EBITDA-42.23M-60.74M-134.96M88.61M126.72M129.22M107.17M111.9M243.24M
EBITDA Margin %-19.8%-12.38%-34.38%41.48%71.85%80.52%58.49%58.54%86.26%
EBITDA Growth %-204.01%-43.86%-122.17%165.66%43.02%1.97%-17.07%4.41%117.38%
D&A (Non-Cash Add-back)28.21M52.79M48.27M46.9M38.76M38.62M42.71M33.57M37.61M
EBIT-57.55M-114.74M-251.05M53.27M99.13M99.81M-13.61M38.11M205.63M
Net Interest Income-4.13M-21.24M-18.92M-21.55M-15.45M-12.57M-12.12M-3.81M-461.57K
Interest Income4.25M4.76M4.63M4.58M3.39M9.77M6.83M4.15M4.09M
Interest Expense8.38M26M23.55M26.13M18.85M22.34M18.95M7.97M4.55M
Other Income/Expense4.5M-27.2M-91.37M-14.56M-7.53M-7.25M-92.1M-48.18M39.78M
Pretax Income
-65.94M▲ 0%
-140.74M▼ 113.4%
-274.6M▼ 95.1%
27.14M▲ 109.9%
80.43M▲ 196.3%
83.35M▲ 3.6%
-27.64M▼ 133.2%
30.14M▲ 209.1%
245.41M▲ 714.2%
Pretax Margin %-30.92%-28.69%-69.94%12.71%45.6%51.94%-15.08%15.77%87.03%
Income Tax-23.15M-35.15M-40.4M10.91M20.33M20.51M9.79M13.88M35.89M
Effective Tax Rate %35.11%24.97%14.71%40.21%25.28%24.61%-35.42%46.03%14.62%
Net Income
-42.5M▲ 0%
-105.59M▼ 148.4%
-234.19M▼ 121.8%
16.88M▲ 107.2%
-18.47M▼ 209.5%
-87.5M▼ 373.6%
-37.43M▲ 57.2%
16.27M▲ 143.5%
209.52M▲ 1188.0%
Net Margin %-19.93%-21.53%-59.65%7.9%-10.47%-54.52%-20.43%8.51%74.3%
Net Income Growth %-200.92%-148.43%-121.8%107.21%-209.47%-373.65%57.23%143.46%1188.04%
Net Income (Continuing)-42.79M-105.59M-234.19M16.23M60.1M62.84M-37.43M16.27M209.52M
Discontinued Operations0000-104.55M-197.82M000
Minority Interest000112.67M145.46M0000
EPS (Diluted)
-0.33▲ 0%
-0.67▼ 103.0%
-1.55▼ 131.3%
0.10▲ 106.5%
-0.11▼ 210.0%
-0.49▼ 345.5%
-0.27▲ 44.9%
0.12▲ 144.4%
1.11▲ 825.0%
EPS Growth %-182.5%-103.03%-131.34%106.45%-210%-345.45%44.9%144.44%825%
EPS (Basic)-0.33-0.67-1.550.10-0.11-0.49-0.270.131.12
Diluted Shares Outstanding127.94M156.62M151.27M162.43M167.63M180.65M185.04M187.58M189.15M
Basic Shares Outstanding127.94M156.62M151.27M162.3M167.63M180.4M185.04M186.29M187.78M
Dividend Payout Ratio---171.33%---188.42%16.92%

OR Balance Sheet

OR Royalties Inc. (OR) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets352.93M197.6M108.29M335.19M152.93M104.79M63.55M63.81M147.3M
Cash & Short-Term Investments333.7M184.26M99.42M306.02M115.7M90.55M57.4M59.1M141.76M
Cash Only333.7M174.26M83.46M302.52M115.7M90.55M51.2M59.1M141.76M
Short-Term Investments010M15.97M3.5M006.2M00
Accounts Receivable924K12.32M4.88M1.04M1.38M2.01M4.75M3.11M3.22M
Days Sales Outstanding1.589.174.541.782.854.579.465.934.17
Inventory9.86M01.28M10.03M18.6M13K10K00
Days Inventory Outstanding23.41-1.533.48100.620.10.3--
Other Current Assets8.45M0011.85M13.31M9.69M002.32M
Total Non-Current Assets2.16B2.04B1.42B2.06B2.22B1.89B1.42B1.31B1.42B
Property, Plant & Equipment102.18M95M1.14B1.65B1.79B1.39B1.18B1.12B1.14B
Fixed Asset Turnover2.09x5.16x0.35x0.13x0.10x0.12x0.16x0.17x0.25x
Goodwill111.2M111.2M85.76M111.2M111.2M111.2M84.08M77.28M80.92M
Intangible Assets1.58B00000000
Long-Term Investments372.57M414.51M136.41M276.73M294.36M393.27M157.78M117.31M190.05M
Other Non-Current Assets1.69M1.42B34.34M25.82M18.04M1.84M1.39M1.29M2M
Total Assets
2.52B▲ 0%
2.23B▼ 11.2%
1.53B▼ 31.7%
2.4B▲ 57.1%
2.37B▼ 1.1%
2B▼ 15.8%
1.49B▼ 25.5%
1.38B▼ 7.3%
1.57B▲ 14.0%
Asset Turnover0.08x0.22x0.26x0.09x0.07x0.08x0.12x0.14x0.18x
Asset Growth %77.67%-11.19%-31.7%57.06%-1.1%-15.79%-25.54%-7.32%14.01%
Total Current Liabilities28.83M23M21.54M109.55M346.28M17.87M15.46M14.62M32.55M
Accounts Payable411K217K5.27M12.77M9.68M648K2.37M1.38M3.03M
Days Payables Outstanding0.980.196.2142.6552.374.7670.2274.6523.59
Short-Term Debt00613.84K49.87M294.89M0001.2M
Deferred Revenue (Current)000000000
Other Current Liabilities14.93M13.03M15.66M36.52M34.9M13.87M004.43M
Current Ratio12.24x8.59x5.03x3.06x0.44x5.87x4.11x4.37x4.53x
Quick Ratio11.90x8.59x4.97x2.97x0.39x5.86x4.11x4.37x4.53x
Cash Conversion Cycle24.02--0.17-7.3951.11-0.1-60.46--
Total Non-Current Liabilities593.11M440.05M353.01M446.53M244.28M241.22M223.08M174.06M109.86M
Long-Term Debt464.31M352.77M269.17M350.56M115.54M147.95M145.08M93.9M3.79M
Capital Lease Obligations007.2M9.95M06.7M5.2M3.93M3.79M
Deferred Tax Liabilities126.76M87.28M61.2M00072.8M76.23M106.08M
Other Non-Current Liabilities128.8M015.45M86.01M128.74M86.57M00-3.79M
Total Liabilities621.94M463.05M374.55M556.07M590.56M259.09M238.54M188.68M142.41M
Total Debt464.31M352.77M276.98M411.8M410.44M155.57M151.13M98.68M8.77M
Net Debt130.6M178.5M193.52M109.27M294.74M65.02M99.93M39.59M-132.98M
Debt / Equity0.25x0.20x0.24x0.22x0.23x0.09x0.12x0.08x0.01x
Debt / EBITDA---4.65x3.24x1.20x1.41x0.88x0.04x
Net Debt / EBITDA---1.23x2.33x0.50x0.93x0.35x-0.55x
Interest Coverage-6.86x-4.41x-10.66x2.04x5.26x4.47x-0.72x4.78x45.20x
Total Equity
1.89B▲ 0%
1.77B▼ 6.5%
1.15B▼ 35.0%
1.84B▲ 59.9%
1.78B▼ 3.3%
1.74B▼ 2.4%
1.25B▼ 28.2%
1.19B▼ 4.7%
1.43B▲ 20.1%
Equity Growth %56.01%-6.48%-34.99%59.86%-3.31%-2.41%-28.16%-4.73%20.13%
Book Value per Share14.8111.317.6111.3310.629.626.746.347.55
Total Shareholders' Equity1.89B1.77B1.15B1.73B1.63B1.74B1.25B1.19B1.43B
Common Stock1.63B1.61B1.28B1.78B1.78B2.08B1.66B1.68B1.68B
Retained Earnings202.5M69.2M-192.55M-174.46M-283.04M-463.59M-388.49M-408.71M-269.46M
Treasury Stock000000000
Accumulated OCI-2.88M23.5M37.9M84.62M91.43M47.43M-84.82M-141.84M-51.64M
Minority Interest000112.67M145.46M0000

OR Cash Flow Statement

OR Royalties Inc. (OR) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations48.72M82.16M91.6M107.98M83.21M109.95M141.11M159.93M249.69M
Operating CF Margin %22.85%16.75%23.33%50.54%47.18%68.51%77.01%83.66%88.54%
Operating CF Growth %-8.85%68.65%11.49%17.88%-22.94%32.13%28.35%13.33%56.13%
Net Income-42.79M-105.59M-234.19M16.23M60.1M85.28M-36.47M16.27M209.52M
Depreciation & Amortization28.21M52.79M48.27M46.9M51.93M52.41M43.47M037.61M
Stock-Based Compensation10.52M5.79M8.32M9.36M6.06M7.12M06.24M0
Deferred Taxes-24.15M-35.97M-41.2M3.76M19.37M26.69M8.05M11.18M18.98M
Other Non-Cash Items77.36M167.76M315.18M29.99M-50.01M-58.33M127.49M128.11M-31.63M
Working Capital Changes-440K-2.62M-4.78M1.73M-4.25M-3.23M-1.42M-1.88M15.22M
Change in Receivables-1.25M-8.61M4.93M-4.68M-44.7K-4.84M-3.44M-1.26M-123.02K
Change in Inventory-8.74M9.86M8.26M-7.72M-10.25M0000
Change in Payables9.77M-3.83M-8.26M7.72M01.69M1.49M02.18M
Cash from Investing-877.51M-65.64M7.56M-223.1M-213.36M-381.86M-165.87M-75.64M1.37M
Capital Expenditures-80.26M-141.21M-84.14M-137.89M-145.33M-124.21M-219.64M-73.45M-37.49M
CapEx % of Revenue37.64%28.79%21.43%64.55%82.4%77.4%119.87%38.42%13.3%
Acquisitions-621.43M159.38M6.8M-52.21M0-133.14M000
Investments---------
Other Investing-1.13M3.89M57.18M4.92M-49.18M-115M-34.71K-57K1.04M
Cash from Financing678.94M-183.15M-161.91M316.86M-15.37M219.24M10.8M-74.87M-166.07M
Debt Issued (Net)447.32M-123.47M-10.23M51.3M-654.11K-266.16M35.98M-49.72M-96.52M
Equity Issued (Net)-1.82M-31.24M-143.02M81.07M-24.15M289.83M9.69M-428K-25.35M
Dividends Paid-19.32M-27.81M-27.45M-28.91M-25.46M-37.93M-30.11M-30.65M-35.44M
Share Repurchases-1.82M-31.24M-143.02M-3.93M-24.15M-22.14M0-428K-37.28M
Other Financing252.76M-619K18.79M213.41M34.89M233.5M-4.76M5.93M-8.76M
Net Change in Cash
-165.54M▲ 0%
-159.44M▲ 3.7%
-66.04M▲ 58.6%
194.3M▲ 394.2%
-146.53M▼ 175.4%
-25.15M▲ 82.8%
-15.7M▲ 37.6%
7.89M▲ 150.3%
82.74M▲ 948.5%
Free Cash Flow
-31.54M▲ 0%
-59.05M▼ 87.2%
7.46M▲ 112.6%
-29.91M▼ 500.8%
11.85M▲ 139.6%
-14.26M▼ 220.3%
-78.53M▼ 450.6%
86.48M▲ 210.1%
212.2M▲ 145.4%
FCF Margin %-14.79%-12.04%1.9%-14%6.72%-8.89%-42.86%45.24%75.25%
FCF Growth %-1550.44%-87.22%112.64%-500.8%139.63%-220.31%-450.62%210.12%145.38%
FCF per Share-0.25-0.380.05-0.180.07-0.08-0.420.461.12
FCF Conversion (FCF/Net Income)-1.15x-0.78x-0.39x6.40x-4.50x-1.26x-3.77x9.83x1.19x
Interest Paid4M21.13M15.68M17.31M12.88M14.58M010.43M0
Taxes Paid132K822K797K1.36M965.48K1.15M02.69M0

OR Key Ratios

OR Royalties Inc. (OR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)3.91%-2.73%-5.76%-16.02%1.13%-1.02%-4.98%-2.51%1.34%16.01%
Return on Invested Capital (ROIC)3.03%-3.79%-4.28%-8.34%1.9%3.28%3.51%3.07%4.56%12.22%
Gross Margin81.99%27.91%13.57%21.07%48.83%61.75%69.04%93.27%96.48%83.38%
Net Margin67.19%-19.93%-21.53%-59.65%7.9%-10.47%-54.52%-20.43%8.51%74.3%
Debt / Equity0.04x0.25x0.20x0.24x0.22x0.23x0.09x0.12x0.08x0.01x
Interest Coverage16.02x-6.86x-4.41x-10.66x2.04x5.26x4.47x-0.72x4.78x45.20x
FCF Conversion1.27x-1.15x-0.78x-0.39x6.40x-4.50x-1.26x-3.77x9.83x1.19x
Revenue Growth38.01%240.18%130.04%-19.95%-45.59%-17.44%-9.01%14.17%4.33%47.52%

OR Frequently Asked Questions

OR Royalties Inc. (OR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

OR Royalties Inc. (OR) reported $278.7M in revenue for fiscal year 2025.

OR Royalties Inc. (OR) grew revenue by 47.5% over the past year. This is strong growth.

Yes, OR Royalties Inc. (OR) is profitable, generating $207.0M in net income for fiscal year 2025 (74.3% net margin).

Dividend & Returns

Yes, OR Royalties Inc. (OR) pays a dividend with a yield of 0.48%. This makes it attractive for income-focused investors.

OR Royalties Inc. (OR) has a return on equity (ROE) of 16.0%. This is reasonable for most industries.

OR Royalties Inc. (OR) generated $209.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More OR

OR Royalties Inc. (OR) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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