Stocktoria

ROYAL GOLD INC RGLD

Nasdaq · stock · Mineral Royalty Traders · website · IPO 1981-06-09 · LEI

ROYAL GOLD INC statistics & valuation

Market cap$17.6B
P / E37.8×
P / S17.1×
P / B2.4×
Dividend yield0.67%
Net margin45.2%
Return on equity6.5%
Net debt$661.7M
Net debt / EBITDA0.8×
Enterprise value USD$18.3B
EV / EBITDA22.5×
Earnings yield EBIT/EV3.5%
Return on capital6.8%
Graham number -51.3%$113.29

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($113.29); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
23.00% -24.60% 22.20% 40.00% 49.10% 41.90% 39.60% 39.50% 46.20% 45.20% 2017201820192020202120212022202320242025
Gross margin (%)
43.60% 45.60% 42.20% 47.30% 54.10% 53.60% 56.70% 65.50% 69.30% 2017201820192020202120212022202320242025
Operating margin (%)
33.10% -16.20% 33.30% 39.90% 54.80% 50.20% 47.00% 50.10% 59.80% 61.90% 2017201820192020202120212022202320242025
Return on equity (%)
4.40% -5.30% 4.30% 8.70% 12.10% 10.50% 8.70% 8.30% 10.60% 6.50% 2017201820192020202120212022202320242025
Shares outstanding
65.3M 65.4M 65.5M 65.6M 65.6M 65.6M 65.7M 65.7M 65.8M 84.5M 2017201820192020202120212022202320242025
Net debt ($)
$500.3M $262.3M $95.1M -$18.7M $453.0M $141.8M -$195.5M $661.7M 2017201820192020202120212022202320242025
Share buybacks ($)
2017201820192020202120212022202320242025
Return on assets (%)
3.30% -4.20% 3.70% 7.20% 11.40% 9.90% 6.80% 7.10% 9.80% 4.90% 2017201820192020202120212022202320242025
Free cash flow margin (%)
2017201820192020202120212022202320242025
Debt / equity (×)
0.25× 0.16× 0.10× 0.13× 0.21× 0.08× 0.00× 0.12× 2017201820192020202120212022202320242025
EPS ($)
$1.55 -$1.73 $1.43 $3.03 $4.60 $4.17 $3.63 $3.63 $5.04 $6.69 2017201820192020202120212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

ROYAL GOLD INC trades at about 34.8× earnings — below its 10-year norm (10-year range 24.4×–80×, median 39.4×).

24.4× 80×

Shaded band = 10-year range (24.4×–80×); dot = today's 34.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2021FY2020FY2019FY2018FY2017
Gross margin69.3%65.5%56.7%53.6%—54.1%47.3%42.2%45.6%43.6%
Operating margin61.9%59.8%50.1%47.0%50.2%54.8%39.9%33.3%-16.2%33.1%
Net margin45.2%46.2%39.5%39.6%41.9%49.1%40.0%22.2%-24.6%23.0%
Return on assets4.9%9.8%7.1%6.8%9.9%11.4%7.2%3.7%-4.2%3.3%
Return on equity6.5%10.6%8.3%8.7%10.5%12.1%8.7%4.3%-5.3%4.4%
Debt / equity0.12×0.00×0.08×0.21×——0.13×0.10×0.16×0.25×
Current ratio3.123.232.312.923.525.718.314.602.454.19

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.