Reading the tape
NASDAQ: RGLD
Royal Gold, Inc.
Basic Materials · Gold
Market Cap
$15.86B
52w High
$306.25
52w Low
$150.75
P/E
39.37
Volume
579.31K
Outstanding Shares
69.42M
Price vs Fundamentals
Why The Stock Is Moving
Fundamentals are supporting the moveModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 27.44%Revenue (TTM): 43.91%FCF (TTM): -207.66%P/FCF: 41st pct
What changed
The stock rose 27.44% over the last year. Revenue grew 43.91% over the trailing twelve months. Operating margin moved from 60.14% to 64.61%. Free cash flow declined 207.66% over the trailing twelve months.
What the market seems to be pricing
The stock move broadly lines up with stronger business momentum, and the shares are still only around the 41st percentile of their historical P/FCF range.
What would invalidate this read
Operating margin is at 64.61%. Revenue grew 43.91% — this thesis depends on that trajectory holding. Despite the price move, free cash flow fell 207.66%, which is worth watching as a leading indicator of future pressure. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.
Company profile
Royal Gold, Inc., together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests.
CEOWilliam H. Heissenbuttel
SectorBasic Materials
IndustryGold
Employees30
IPO dateJun 9, 1981
Valuation
Forward P/E—
EV/EBITDA20.87
Enterprise value$16.16B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth85.29%
Gross margin72.6%▼19.75%vs FY2024
Operating margin64.61%▲6.94%vs FY2024
ROE6.51%▼38.80%vs FY2024
Analyst consensus
RatingBuy
Target price$304.80▲33.44%
16
Buy
11
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 6, 2026
Q2 FY26 · EPS est $2.81 · Revenue est $474.04M
View
Dividends
$1.85/shareQuarterlyDividend Achiever · 10yrSafeRGLD pays a dividend with a 0.81% dividend yield, 10 consecutive years of growth, growing at 9.95% annually, covered 5.9× by free cash flow.
Dividend Yield
0.81%
Annual Div / Share
$1.85
5yr CAGR
+9.95%
Doubles every ~7.3yr
Payout Ratio
25.42%
Safe
Dividend Growth Rate
3yr CAGR
+8.74%
5yr CAGR
+9.95%
10yr CAGR
+10.55%
Dividend Safety
10/10Safe
Dividend History
Annual dividends paid per share
YearAnnual DivYoY
2025$1.80+12.5%
2024$1.60+6.7%
2023$1.50+7.1%
2022$1.40+16.7%
2021$1.20+7.1%
2020$1.12+5.7%
2019$1.06+6.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$8/yr
$1/mo
In 5 yrs
$13/yr+61%
$1/mo
In 10 yrs
$21/yr+158%
$2/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$8/yr $1/mo | $13/yr+61% $1/mo | $21/yr+158% $2/mo |
Yield-on-cost grows from 0.81% → 2.09% over 10yr
Analysis
Dividend Strengths
Dividend Achiever
RGLD has raised its dividend for 10 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.
Well-covered by free cash flow
The dividend is covered 5.9× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 9.95% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.