Royal Gold, Inc. (RGLD) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Gold
EV/EBITDA
↑
24.23
↑+48% vs avg
5yr avg: 16.34
30Y Low8.7·High36.5
P/FCF
↓
27.08
+20% vs avg
5yr avg: 22.60
30Y Low19.1·High80.8
P/B Ratio
↓
2.18
↓-16% vs avg
5yr avg: 2.60
30Y Low1.1·High9.1
ROE
↓
9.0%
-6% vs avg
5yr avg: 9.6%
30Y Low-57%·High50%
Debt/EBITDA
↓
1.10
+16% vs avg
5yr avg: 0.95
30Y Low0.3·High2.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
RGLD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Royal Gold, Inc. trades at 33.8x earnings, 13% above its 5-year average of 29.8x, sitting at the 42nd percentile of its historical range. Compared to the Basic Materials sector median P/E of 22.3x, the stock trades at a premium of 52%. On a free-cash-flow basis, the stock trades at 27.1x P/FCF, 20% above the 5-year average of 22.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $19.1B | $15.5B | $8.7B | $8.0B | $7.4B | $6.9B | $7.0B | $8.2B | $6.7B | $6.1B | $5.1B |
| Enterprise Value | $19.8B | $16.1B | $8.5B | $8.1B | $7.9B | $6.8B | $6.8B | $8.1B | $6.8B | $6.3B | $5.6B |
| P/E Ratio → | 33.77 | 33.23 | 26.11 | 33.23 | 31.05 | 25.17 | 23.12 | 41.03 | 71.67 | — | 50.43 |
| P/S Ratio | 18.52 | 15.01 | 12.17 | 13.29 | 12.41 | 10.70 | 11.33 | 16.49 | 16.03 | 13.27 | 11.62 |
| P/B Ratio | 2.18 | 2.15 | 2.77 | 2.74 | 2.69 | 2.65 | 2.79 | 3.54 | 3.09 | 2.83 | 2.20 |
| P/FCF | 27.08 | 21.94 | 20.32 | 19.25 | — | 28.89 | 29.21 | 44.17 | 26.63 | 19.12 | 80.83 |
| P/OCF | 27.08 | 21.94 | 16.38 | 19.12 | 17.73 | 16.96 | 17.14 | 23.95 | 26.52 | 18.43 | 19.12 |
P/E links to full P/E history page with 30-year chart
RGLD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Royal Gold, Inc.'s enterprise value stands at 24.2x EBITDA, 48% above its 5-year average of 16.3x. The Basic Materials sector median is 11.0x, placing the stock at a 121% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 15.65 | 11.90 | 13.52 | 13.17 | 10.48 | 10.97 | 16.45 | 16.25 | 13.84 | 12.76 |
| EV / EBITDA | 24.23 | 19.78 | 14.76 | 17.29 | 16.82 | 13.07 | 12.96 | 21.67 | 22.41 | 19.25 | 18.34 |
| EV / EBIT | 30.95 | — | 19.72 | 26.69 | 27.68 | 20.59 | 19.52 | 40.93 | 48.39 | — | 38.39 |
| EV / FCF | — | 22.88 | 19.86 | 19.59 | — | 28.29 | 28.26 | 44.07 | 27.01 | 19.95 | 88.75 |
RGLD Profitability
Margins and return-on-capital ratios measuring operating efficiency
Royal Gold, Inc. earns an operating margin of 61.9%, significantly above the Basic Materials sector average of 9.2%. Operating margins have expanded from 50.7% to 61.9% over the past 3 years, signaling improving operational efficiency. ROE of 9.0% is modest. ROIC of 8.9% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | 86.3% | 84.9% | 84.1% | 84.7% | 54.0% | 83.1% | 81.5% | 81.6% | 80.1% |
| Operating Margin | 61.9% | 61.9% | 60.3% | 50.7% | 47.6% | 50.9% | 54.8% | 40.2% | 33.6% | -16.3% | 33.2% |
| Net Profit Margin | 45.2% | 45.2% | 46.6% | 40.0% | 40.1% | 42.5% | 49.1% | 40.3% | 22.4% | -24.8% | 23.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.0% | 9.0% | 11.0% | 8.5% | 8.9% | 10.7% | 12.6% | 8.9% | 4.4% | -5.1% | 4.4% |
| ROA | 7.2% | 7.2% | 9.8% | 6.9% | 7.6% | 10.1% | 11.2% | 7.5% | 3.6% | -3.9% | 3.3% |
| ROIC | 8.9% | 8.9% | 10.8% | 7.3% | 7.5% | 10.4% | 11.1% | 6.6% | 4.5% | -2.1% | 3.9% |
| ROCE | 10.0% | 10.0% | 13.0% | 9.0% | 9.2% | 12.4% | 12.7% | 7.6% | 5.5% | -2.6% | 4.8% |
RGLD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Royal Gold, Inc. carries a Debt/EBITDA ratio of 1.1x, which is manageable (56% below the sector average of 2.5x). Net debt stands at $662M ($895M total debt minus $234M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.12 | 0.12 | — | 0.08 | 0.21 | — | — | 0.13 | 0.10 | 0.16 | 0.25 |
| Debt / EBITDA | 1.10 | 1.10 | — | 0.53 | 1.22 | — | — | 0.80 | 0.71 | 1.07 | 1.92 |
| Net Debt / Equity | — | 0.09 | -0.06 | 0.05 | 0.16 | -0.06 | -0.09 | -0.01 | 0.04 | 0.12 | 0.22 |
| Net Debt / EBITDA | 0.81 | 0.81 | -0.34 | 0.30 | 0.97 | -0.28 | -0.43 | -0.05 | 0.31 | 0.80 | 1.64 |
| Debt / FCF | — | 0.94 | -0.46 | 0.34 | — | -0.60 | -0.95 | -0.10 | 0.38 | 0.83 | 7.93 |
| Interest Coverage | — | — | 44.10 | 10.68 | 28.37 | — | 102.30 | 28.42 | 4.75 | -2.18 | 4.01 |
RGLD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Royal Gold, Inc.'s current ratio of 3.12x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.31x to 3.12x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.12 | 3.12 | 3.23 | 2.31 | 2.92 | 3.52 | 5.71 | 8.31 | 4.60 | 2.45 | 4.19 |
| Quick Ratio | 2.91 | 2.91 | 3.08 | 2.18 | 2.72 | 3.33 | 5.37 | 8.05 | 4.26 | 2.27 | 3.96 |
| Cash Ratio | 1.93 | 1.93 | 2.30 | 1.44 | 1.86 | 2.34 | 4.34 | 7.33 | 3.55 | 1.73 | 2.50 |
| Asset Turnover | — | 0.11 | 0.21 | 0.18 | 0.17 | 0.23 | 0.23 | 0.18 | 0.16 | 0.17 | 0.14 |
| Inventory Turnover | 7.52 | — | 7.52 | 9.25 | 7.48 | 8.48 | 16.02 | 7.19 | 6.81 | 9.00 | 11.07 |
| Days Sales Outstanding | — | — | 33.08 | 31.45 | 32.12 | 30.60 | 30.68 | 22.21 | 20.42 | 21.09 | 40.78 |
RGLD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Royal Gold, Inc. returns 0.8% to shareholders annually primarily through dividends. The payout ratio of 25.4% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 0.8% | 1.2% | 1.2% | 1.2% | 1.1% | 1.1% | 0.9% | 1.0% | 1.1% | 1.2% |
| Payout Ratio | 25.4% | 25.4% | 31.7% | 41.2% | 38.5% | 28.7% | — | 35.9% | 71.9% | — | 60.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.0% | 3.0% | 3.8% | 3.0% | 3.2% | 4.0% | 4.3% | 2.4% | 1.4% | — | 2.0% |
| FCF Yield | 3.7% | 4.6% | 4.9% | 5.2% | — | 3.5% | 3.4% | 2.3% | 3.8% | 5.2% | 1.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% |
| Total Shareholder Yield | 0.8% | 0.8% | 1.2% | 1.2% | 1.2% | 1.1% | 1.1% | 0.9% | 1.0% | 1.1% | 1.3% |
| Shares Outstanding | — | $70M | $66M | $66M | $66M | $66M | $66M | $66M | $66M | $65M | $65M |
Peer Comparison
Compare RGLD with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 RGLDYou | $19B | 33.8 | 24.2 | 27.1 | — | 61.9% | 9.0% | 8.9% | 1.1 |
 WPM | $57B | 38.1 | 28.9 | 99.1 | 72.2% | 68.8% | 18.8% | 17.4% | 0.0 |
 FNV | $43B | 38.4 | 26.4 | — | 73.9% | 71.0% | 16.6% | 16.8% | 0.0 |
 OR | $7B | 32.3 | 27.0 | 31.6 | 83.4% | 72.9% | 18.3% | 14.1% | 0.0 |
 NEM | $121B | 17.0 | 8.7 | 16.5 | 49.8% | 46.9% | 22.1% | 24.9% | 0.0 |
 AEM | $89B | 20.1 | 10.9 | 20.9 | 58.1% | 53.1% | 19.6% | 21.9% | 0.0 |
 KGC | $35B | 14.5 | 7.8 | 13.4 | 47.5% | 43.2% | 31.0% | 29.9% | 0.2 |
 AGI | $16B | 18.5 | 15.6 | 60.2 | 54.3% | 44.5% | 22.2% | 15.9% | 0.2 |
 EGO | $6B | 11.7 | 6.0 | — | 44.9% | 41.5% | 12.6% | 13.3% | 1.2 |
 FCX | $83B | 38.0 | 10.7 | 74.3 | 27.0% | 24.4% | 7.4% | 12.8% | 1.3 |
 TECK | $28B | 27.8 | 11.8 | — | 21.8% | 16.5% | 5.3% | 4.4% | 2.8 |
| Basic Materials Median | — | 22.3 | 11.0 | 25.6 | 31.3% | 9.2% | 0.0% | 4.5% | 2.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
Full RGLD Stock Analysis
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Side-by-side business, growth, and profitability comparison vs Wheaton Precious Metals Corp..
Start ComparisonRGLD — Frequently Asked Questions
Quick answers to the most common questions about buying RGLD stock.
What is Royal Gold, Inc.'s P/E ratio?
Royal Gold, Inc.'s current P/E ratio is 33.8x. The historical average is 44.2x. This places it at the 42th percentile of its historical range.
What is Royal Gold, Inc.'s EV/EBITDA?
Royal Gold, Inc.'s current EV/EBITDA is 24.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.7x.
What is Royal Gold, Inc.'s ROE?
Royal Gold, Inc.'s return on equity (ROE) is 9.0%. The historical average is 6.5%.
Is RGLD stock overvalued?
Based on historical data, Royal Gold, Inc. is trading at a P/E of 33.8x. This is at the 42th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Royal Gold, Inc.'s dividend yield?
Royal Gold, Inc.'s current dividend yield is 0.75% with a payout ratio of 25.4%.
What are Royal Gold, Inc.'s profit margins?
Royal Gold, Inc. has 61.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Royal Gold, Inc. have?
Royal Gold, Inc.'s Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.