Royal Gold (RGLD) financial statements
Royal Gold reported revenue of $1.0B in fiscal 2025, up 9.9% a year over 9 years.
Net income was $466M and the operating margin 61.9%, against 33.1% in 2017.
The diluted share count rose 7% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Royal Gold's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $441M | $459M | $423M | $499M | $616M | $654M | $603M | $606M | $719M | $1.0B |
| Cost of revenue | $87M | $84M | $78M | $84M | $93M | $98M | $95M | $91M | $98M | $131M |
| Gross profit | $192M | $209M | $179M | $236M | $333M | $555M | $323M | $343M | $471M | $714M |
| Selling, general and admin | $33M | $35M | $30M | $30M | $28M | $29M | $35M | $40M | $41M | $49M |
| Operating income | $146M | -$75M | $141M | $199M | $338M | $328M | $284M | $303M | $430M | $638M |
| Interest expense | — | — | $2M | — | — | — | — | — | — | — |
| Pre-tax income | $119M | -$105M | $107M | $193M | $340M | $328M | $273M | $282M | $426M | $574M |
| Income tax | $26M | $15M | $17M | -$4M | $37M | $53M | $33M | $42M | $94M | $102M |
| Net income | $102M | -$113M | $94M | $199M | $303M | $274M | $239M | $239M | $332M | $466M |
| EPS (diluted) | $1.55 | -$1.73 | $1.43 | $3.03 | $4.60 | $4.17 | $3.63 | $3.63 | $5.04 | $6.69 |
| Diluted shares | 65M | 65M | 66M | 66M | 66M | 66M | 66M | 66M | 66M | 70M |
| Gross margin | 43.6% | 45.6% | 42.2% | 47.3% | 54.1% | 84.9% | 53.6% | 56.7% | 65.5% | 69.3% |
| Operating margin | 33.1% | -16.2% | 33.3% | 39.9% | 54.8% | 50.2% | 47.0% | 50.1% | 59.8% | 61.9% |
| Net margin | 23.0% | -24.6% | 22.2% | 40.0% | 49.1% | 41.9% | 39.6% | 39.5% | 46.2% | 45.2% |
Balance sheet
Fiscal years, from Royal Gold's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $86M | $89M | $119M | $319M | $226M | $144M | $119M | $104M | $195M | $234M |
| Total current assets | $144M | $126M | $155M | $362M | $297M | $216M | $186M | $167M | $275M | $377M |
| Total assets | $3.1B | $2.7B | $2.5B | $2.8B | $2.7B | $2.8B | $3.5B | $3.4B | $3.4B | $9.5B |
| Total current liabilities | $34M | $51M | $34M | $44M | $52M | $61M | $64M | $72M | $85M | $121M |
| Long-term debt | $586M | $351M | $215M | $300M | — | — | $572M | $246M | $0 | $895M |
| Total liabilities | $774M | $541M | $374M | $464M | $148M | $156M | $781M | $460M | $261M | $2.3B |
| Shareholders' equity | $2.3B | $2.1B | $2.1B | $2.3B | $2.5B | $2.6B | $2.7B | $2.9B | $3.1B | $7.2B |
| Net debt | $500M | $262M | $95M | -$19M | -$226M | -$144M | $453M | $142M | -$195M | $662M |
Cash flow
Fiscal years, from Royal Gold's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $267M | $329M | $253M | $341M | $407M | $462M | $417M | $416M | $530M | $705M |
| Stock-based compensation | $10M | $8M | $7M | $9M | $6M | $6M | $8M | $10M | $12M | $12M |
| Dividends paid | $61M | $64M | $67M | $71M | $76M | $79M | $92M | $99M | $105M | $119M |
| Net borrowing | -$95M | -$250M | -$370M | -$115M | -$305M | -$300M | -$125M | -$325M | -$250M | -$375M |
| Dividends per share | $0.94 | $0.98 | $1.03 | $1.09 | $1.16 | $1.20 | $1.40 | $1.50 | $1.60 | $1.70 |
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What was Royal Gold's revenue in 2025?
$1.0B in fiscal 2025, from its 10-K filing.
From Royal Gold's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.