Royal Gold, Inc. (RGLD) is a publicly traded company in the Basic Materials — Gold industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Royal Gold, Inc. and its subsidiaries engage in the acquisition and oversight of precious metal streams, royalty agreements, and related rights. The company's strategy involves securing these interests or providing capital for projects, whether currently producing or in their development phase, in exchange for future streams or royalty entitlements. Its portfolio primarily encompasses gold, silver, copper, nickel, zinc, lead, and cobalt.
Is Royal Gold, Inc. stock overvalued or undervalued in 2026?
Royal Gold, Inc. (RGLD) trades at 24.8× earnings (P/E), against a median of 18.8× across the 156 materials companies above $2bn in Kaplio's universe. No valuation verdict: it is a cyclical and today's P/E (24.8) does not tell whether it is cheap.
Kaplio overview: Royal Gold, Inc.
Market cap $19B · 52 weeks $169 – $304 (22 % below the high) · P/E 24.8× · 2027 expected P/E 17.8× · Dividend 0.80 % · 11 years rising · Next earnings November 4, 2026 · expected EPS $2.74 · Closing price, Oct 29 · accounts published Aug 5.
- Valuation: P/E 24.8× (no verdict).
- Business: ROIC 9 % (fair).
- Balance sheet: Net debt/EBITDA 0.9× (solid).
- Earnings: 6 of 8 (on track).
What would it be worth at its usual multiples?
No valuation verdict: it is a cyclical and today's P/E (24.8) does not tell whether it is cheap.
In cyclicals the P/E misleads; on its average earnings over 10 years it trades at 70.7 times.
What matters in materials: 4 of 8 pass
- FCF yield −2.2 %, fails.
- Dividend coverage −3.9×, fails.
- Capex / D&A 6.6×, fails.
- P/B across cycles 2.6×, fails.
- Gross margin 69.3 %, passes.
- Net debt / EBITDA (trough) 0.9×, passes.
- Altman Z-Score 4.5, passes.
- Cycle-adjusted EV/EBITDA 16.8×, passes.
Against its peers (reference peers) — Royal Gold, Inc.: P/E 24.8×; EV/EBITDA 16.9×; ROIC 8.6 %; $19.3B. Franco-Nevada Corporation (P/E 30.3×; EV/EBITDA 20.3×; ROIC 15.7 %; $44.7B), Wheaton Precious Metals Corp. (P/E 27.3×; EV/EBITDA 21.3×; ROIC 16.6 %; $56.0B), OR Royalties Inc. (P/E 22.2×; EV/EBITDA 15.6×; ROIC 14.2 %; $6.2B).
Expensive or cheap against its last ten years?
P/E at each close: today 24.8× · median 33.6× · minimum 20.4× · maximum 59.6× · cheap below 27.9× · expensive above 40.5×. It has been cheaper than today only 16% of the time over its last ten years.
Dividend
solid · Yield 0.80 % ($1.71 per share in 2025) · Years raising it ≥ 11 · 5-year growth +8 % a year · Free cash flow coverage 1.3× · With $1,000 invested today you'd collect $8.00 a year ($0.67 a month).
Profitability
| Return on Equity | 11.55% |
| Return on Invested Capital | 8.58% |
| Return on Assets | 7.81% |
| Gross Margin | 66.79% |
| Operating Margin | 63.14% |
| Net Margin | 47.70% |
Financial Health
| Debt / Equity | 0.05 |
| Current Ratio | 2.92 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 4.52 |
Price Performance
| 1 month | +0.35% |
| 3 months | +19.40% |
| Year-to-date | +6.54% |
| 1 year | +33.19% |
| 3 years | +127.00% |
| 5 years | +139.17% |
| 10 years | +239.93% |
Dividend History
Paid in the last 12 months: $1.9000 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-10-02 | $0.4750 |
| 2026-07-02 | $0.4750 |
| 2026-04-02 | $0.4750 |
| 2026-01-02 | $0.4750 |
| 2025-10-03 | $0.4500 |
| 2025-07-03 | $0.4500 |
| 2025-04-04 | $0.4500 |
| 2025-01-03 | $0.4500 |
| 2024-10-04 | $0.4000 |
| 2024-07-05 | $0.4000 |
Amounts adjusted for stock splits.
Related companies: WPM · FNV · OR · TFPM
Explore sector: Basic Materials · Gold
More sections of RGLD: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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