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What this page is: Delvantic's full research page for Royal Gold Inc. (RGLD) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
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profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
price-history,income-trend,key-metrics,financials(statement tables),insider-trading. The analysis above is public; the raw data tables require a free account.
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any ticker resolves at delvantic.com/stock/TICKER ·
raw inputs are public-company filings and market data (via licensed data feeds);
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Royal Gold Inc.
RGLD NASDAQ
Basic Materials · Gold
Denver, CO 80202-1161, United States
royalgold.com
Price
$226.81
Market Cap
$19.7B
Employees
39
Beta
0.46
Avg Volume
698,540
Last Dividend
$1.88
CEO
Mr. William H. Heissenbuttel
Royal Gold, Inc. is a precious metals streaming and royalty company focused on acquiring and managing streams, royalties, and related interests tied to mining projects. The company provides financing to operators in exchange for the right to receive a portion of future production or revenues, allowing it to participate in metals output without running mines itself. Its business is organized around stream interests and royalty interests, supporting exposure to gold and other metals across producing, development, and exploration-stage assets. Royal Gold’s portfolio spans multiple regions, including the Americas, Africa, Europe, the Middle East, and the Australia Pacific, with interests linked to a diversified set of mining properties. Based in Denver, Colorado, Royal Gold plays a specialized role in the global mining finance market by supplying non-operating capital and managing long-term production-linked interests.
Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 13 No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Aug 5, 2026.
EPS surprise history — vs analyst consensus · 5 prints of vendor history
-5.9%
Nov '25
-27.3%
Feb '26
-1.1%
May '26
+6.0%
Jul '26
+0.8%
Aug '26
| Print date | EPS est. | EPS actual | Revenue est. | Revenue actual |
|---|---|---|---|---|
| Aug 5, 2026 | $2.54 | $2.56 +0.8% | — | — |
| Jul 23, 2026 | $3.32 | $3.52 +6.0% | — | — |
| May 6, 2026 | $2.75 | $2.72 -1.1% | — | — |
| Feb 18, 2026 | $2.64 | $1.92 -27.3% | — | — |
| Nov 5, 2025 | $2.19 | $2.06 -5.9% | — | — |
Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.
Recent SEC Filings
| Filed | Form | Document |
|---|---|---|
| Aug 6, 2026 | 10-Q | View |
| Aug 5, 2026 | 8-K | View |
| Jul 21, 2026 | 8-K | View |
| Jun 16, 2026 | 144 | View |
| Jun 16, 2026 | 4 | View |
| May 26, 2026 | 8-K | View |
| May 11, 2026 | 4 | View |
| May 11, 2026 | 144 | View |
| May 7, 2026 | 10-Q | View |
| May 6, 2026 | 8-K | View |
| Apr 30, 2026 | SCHEDULE 13G | View |
| Apr 3, 2026 | ARS | View |
Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.
Price Overview
Last updated: Aug 13, 2026 2:45pm (just now)
Current data · timestamped when a report runs
$226.81
Change · Aug 13
-6.06 (-2.60%)
Day Range
$225.87 – $230.25
52-Week Range
$166.52 – $306.25
50-Day MA
$205.92
200-Day MA
$230.53
Volume
50,334.00
Share Structure
Outstanding
84,673,027.00
Float
82,369,033.00
Free Float
97.3%
High free float
— 97.3% of shares trade freely, ~2.7% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEXStock Price / EPS (Diluted)
33.90
Stock Price: $226.81
EPS (Diluted): 6.69
EPS (Diluted): 6.69
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
2.19
Stock Price: $226.81
Total Equity: $7.21B
Shares: 69,560,911
Total Equity: $7.21B
Shares: 69,560,911
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
24.40
Market Cap: $19.73B
Total Debt: $895.44M
Cash: $233.72M
EBITDA: $815.25M
Total Debt: $895.44M
Cash: $233.72M
EBITDA: $815.25M
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$19.9B
Market Cap: $19.73B
Total Debt: $895.44M
Cash: $233.72M
Total Debt: $895.44M
Cash: $233.72M
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
69.3%
Gross Profit: $714.33M
Revenue: $1.03B
Revenue: $1.03B
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
61.9%
Operating Income: $638.17M
Revenue: $1.03B
Revenue: $1.03B
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
45.2%
Net Income: $466.28M
Revenue: $1.03B
Revenue: $1.03B
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
6.5%
Net Income: $466.28M
Total Equity: $7.21B
Total Equity: $7.21B
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
6.7%
Operating Income: $638.17M
Tax Rate: 17.8%
Equity: $7.21B
Total Debt: $895.44M
Cash: $233.72M
Tax Rate: 17.8%
Equity: $7.21B
Total Debt: $895.44M
Cash: $233.72M
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
3.12
Current Assets: $377.45M
Current Liabilities: $120.92M
Current Liabilities: $120.92M
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
0.12
Short-Term Debt: $0.00
Long-Term Debt: $895.44M
Total Debt: $895.44M
Total Equity: $7.21B
Long-Term Debt: $895.44M
Total Debt: $895.44M
Total Equity: $7.21B
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
$14.81
Revenue: $1.03B
Shares: 69,560,911
Shares: 69,560,911
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
$103.58
Total Equity: $7.21B
Shares: 69,560,911
Shares: 69,560,911
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$10.13
Operating CF: $704.85M
CapEx: $0.00
Shares: 69,560,911
CapEx: $0.00
Shares: 69,560,911
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
0.8%
Last Dividend: $1.88
Stock Price: $226.81
Stock Price: $226.81
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
25.4%
Dividends Paid: -$118.53M
Net Income: $466.28M
Net Income: $466.28M
Income Statement (Annual)
Last updated: Aug 6, 2026 10:25pm (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $653.6M | $603.2M | $605.7M | $719.4M | $1.0B |
| Cost of Revenue | $98.5M | $280.1M | $262.3M | $248.2M | $316.1M |
| Gross Profit | $555.1M | $323.1M | $343.4M | $471.2M | $714.3M |
| Operating Expenses | $226.7M | $39.4M | $40.2M | $41.3M | $76.2M |
| Operating Income | $328.4M | $283.7M | $303.2M | $429.9M | $638.2M |
| Net Income | $274.0M | $239.0M | $239.4M | $332.0M | $466.3M |
| EBITDA | $517.4M | $462.6M | $468.1M | $574.3M | $815.2M |
| EPS | $4.17 | $3.64 | $3.64 | $5.04 | $6.70 |
| EPS (Diluted) | $4.17 | $3.63 | $3.63 | $5.04 | $6.69 |
Balance Sheet (Annual)
Last updated: Aug 6, 2026 10:25pm (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $143.6M | $118.6M | $104.2M | $195.5M | $233.7M |
| Total Current Assets | $216.0M | $185.8M | $167.4M | $275.3M | $377.4M |
| Total Assets | $2.8B | $3.5B | $3.4B | $3.4B | $9.5B |
| Current Liabilities | $61.4M | $63.6M | $72.4M | $85.2M | $120.9M |
| Long-Term Debt | — | $571.6M | $246.0M | $0 | $895.4M |
| Total Liabilities | $155.8M | $781.1M | $460.4M | $260.9M | $2.3B |
| Total Equity | $2.6B | $2.8B | $2.9B | $3.1B | $7.2B |
| Retained Earnings | $381.9M | $527.3M | $666.5M | $890.0M | $1.2B |
Cash Flow (Annual)
Last updated: Aug 6, 2026 10:25pm (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $461.9M | $417.3M | $415.8M | $529.5M | $704.8M |
| Capital Expenditure | — | — | — | — | — |
| Free Cash Flow | — | — | — | — | — |
| Acquisitions (net) | — | — | $0 | $0 | -$411.3M |
| Net Debt Issued / (Repaid) | -$300.0M | -$125.0M | -$325.0M | -$250.0M | -$375.0M |
| Dividends Paid | -$78.7M | -$91.9M | -$98.6M | -$105.2M | -$118.5M |
| Stock Buybacks | — | — | — | — | — |
| Net Change in Cash | -$238.3M | -$25.0M | -$14.4M | $91.3M | $38.2M |
Growth Trends (YoY %)
Last updated: Aug 6, 2026 10:25pm (6d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -7.7% | +0.4% | +18.8% | +43.2% |
| Gross Profit Growth | -41.8% | +6.3% | +37.2% | +51.6% |
| Operating Income Growth | -13.6% | +6.9% | +41.8% | +48.4% |
| Net Income Growth | -12.8% | +0.2% | +38.7% | +40.4% |
| EBITDA Growth | -10.6% | +1.2% | +22.7% | +41.9% |
Dividend History (Last 20)
Last updated: Aug 12, 2026 2:01am (1d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-07-02 | $0.48 | — | — | — |
| 2026-04-02 | $0.48 | — | — | — |
| 2026-01-02 | $0.48 | — | — | — |
| 2025-10-03 | $0.45 | — | — | — |
| 2025-07-03 | $0.45 | — | — | — |
| 2025-04-04 | $0.45 | — | — | — |
| 2025-01-03 | $0.45 | — | — | — |
| 2024-10-04 | $0.40 | — | — | — |
| 2024-07-05 | $0.40 | — | — | — |
| 2024-04-04 | $0.40 | — | — | — |
| 2024-01-04 | $0.40 | — | — | — |
| 2023-10-05 | $0.38 | — | — | — |
| 2023-07-06 | $0.38 | — | — | — |
| 2023-04-05 | $0.38 | — | — | — |
| 2023-01-05 | $0.38 | — | — | — |
| 2022-10-06 | $0.35 | — | — | — |
| 2022-06-30 | $0.35 | — | — | — |
| 2022-03-31 | $0.35 | — | — | — |
| 2022-01-06 | $0.35 | — | — | — |
| 2021-09-30 | $0.30 | — | — | — |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-16 | Shefman Randy | S-Sale | 500.00 | $215.85 | $107,925 |
| 2026-05-11 | Shefman Randy | S-Sale | 1,000.00 | $243.74 | $243,740 |
| 2026-03-12 | Isto Mark | S-Sale | 2,000.00 | $274.83 | $549,660 |
| 2026-03-11 | Crandall David R | G-Gift | 150.00 | $0.00 | $0 |
| 2026-03-04 | Libner Paul | S-Sale | 200.00 | $280.20 | $56,040 |
| 2026-03-04 | Libner Paul | S-Sale | 700.00 | $282.82 | $197,974 |
| 2026-03-04 | Libner Paul | S-Sale | 500.00 | $283.66 | $141,830 |
| 2026-03-04 | Libner Paul | S-Sale | 100.00 | $284.41 | $28,441 |
| 2026-03-04 | Libner Paul | S-Sale | 1,000.00 | $285.84 | $285,840 |
| 2026-03-02 | Shefman Randy | F-InKind | 309.00 | $304.29 | $94,026 |
| 2026-03-02 | Raffield Martin | F-InKind | 213.00 | $304.29 | $64,814 |
| 2026-03-02 | Libner Paul | F-InKind | 515.00 | $304.29 | $156,709 |
| 2026-03-02 | Breeze Daniel | S-Sale | 700.00 | $302.00 | $211,400 |
| 2026-03-02 | Heissenbuttel William Holmes | F-InKind | 1,395.00 | $304.29 | $424,485 |
| 2026-03-01 | Crandall David R | F-InKind | 232.00 | $299.79 | $69,551 |
| 2026-03-01 | Shefman Randy | F-InKind | 368.00 | $299.79 | $110,323 |
| 2026-03-01 | Raffield Martin | F-InKind | 354.00 | $299.79 | $106,126 |
| 2026-03-01 | Libner Paul | F-InKind | 622.00 | $299.79 | $186,469 |
| 2026-03-01 | Heissenbuttel William Holmes | F-InKind | 1,624.00 | $299.79 | $486,859 |
| 2026-02-27 | Crandall David R | F-InKind | 192.00 | $299.79 | $57,560 |
Industry Benchmarks
Compares RGLD against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for RGLD — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for RGLD — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
No GPT reading yet for RGLD — it's generated by the
pipeline (
gpt-critique step) after the other Big-3 seats, when a
report is run on this ticker.
Grok Reading
No Grok reading yet for RGLD — it's generated by the
pipeline (
grok-critique step) alongside the other Big-3 seats, when a
report is run on this ticker.
Advanced Analysis Forensic deep-dive · four lenses
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My Notes
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Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.530 · 761561a2 · 2026-08-12 19:06:35