Royal Gold, Inc.

RGLD

RGLDRoyal Gold, Inc. US flag

NASDAQ Global Select

219.58

USD

+1.72

- -

15.24BMarket Cap

Income Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	216	263	289	237	278	360	441	459	423	499	616	603	606	719	1,030
+ Sales & Services Revenue	216	263	289	237	278	360	441	459	423	499	616	603	606	719	1,030
- Cost of Revenue	76	84	94	107	132	216	249	250	245	263	283	281	263	249	317
+ Cost of Goods & Services	76	84	94	107	132	216	249	250	245	263	283	281	263	249	317
Gross Profit	140	179	195	130	146	144	192	209	178	236	333	323	343	471	714
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	21	21	24	21	27	40	46	44	38	35	29	35	40	41	49
+ Selling, General & Admin	21	21	24	21	25	32	33	35	30	30	28	35	40	41	49
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	2	9	13	9	7	5	1	- -	- -	- -	- -
Operating Income (Loss)	119	158	171	109	119	103	146	165	141	200	304	288	303	430	665
- Non-Operating (Income) Loss	3	5	34	26	56	125	27	269	34	8	-36	15	21	4	91
+ Interest Expense, Net	3	4	22	21	25	29	27	30	27	8	4	9	21	4	15
+ Interest Expense	8	7	25	23	26	33	36	34	30	10	6	17	31	10	29
- Interest Income	5	4	3	2	1	4	9	4	2	2	2	8	10	6	14
+ Other Non-Op (Income) Loss	- -	1	12	4	32	96	- -	239	7	- -	-40	6	- -	- -	76
Pretax Income	116	153	137	83	62	-22	119	-105	107	193	340	273	282	426	574
- Income Tax Expense (Benefit)	39	55	64	19	10	61	26	15	17	-4	37	33	42	94	102
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	77	98	73	63	53	-82	92	-119	89	196	303	240	240	332	472
- Net Extraordinary Losses (Gains)	12	12	9	2	1	-11	-18	-12	-9	-6	- -	2	1	1	11
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	12	12	9	2	1	-11	-18	-12	-9	-6	- -	2	1	1	11
Income (Loss) Incl. MI	65	87	65	62	51	-72	111	-107	99	202	302	238	239	332	461
- Minority Interest	-6	-6	-4	-1	-1	5	9	6	5	3	- -	-1	-1	- -	-5
Net Income, GAAP	71	92	69	63	52	-77	102	-113	94	199	303	239	239	332	466
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	71	92	69	63	52	-77	102	-113	94	199	303	239	239	332	466
EBIT	119	158	171	109	119	103	146	165	141	200	304	288	303	430	665
EBITDA	186	233	256	200	212	245	306	329	304	376	487	467	468	574	842
EBITDA Margin (%)	86.07	88.56	88.58	84.36	76.27	67.96	69.32	71.57	71.8	75.32	79.12	77.41	77.29	79.83	81.69
EBITA	119	158	171	109	119	103	146	165	141	200	304	288	303	430	665
Gross Margin (%)	64.69	67.9	67.49	54.78	52.38	39.95	43.59	45.58	42.16	47.25	54.01	53.48	56.62	65.45	69.27
Operating Margin (%)	54.94	60.05	59.18	45.84	42.65	28.74	33.11	35.91	33.26	40.15	49.31	47.74	50.06	59.76	64.5
Profit Margin (%)	32.98	35.15	23.91	26.41	18.69	-21.44	23.03	-24.65	22.18	39.96	49.12	39.62	39.53	46.15	45.25
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.4	0.52	0.69	0.82	0.86	0.9	0.94	0.98	1.03	1.09	1.16	1.4	1.5	1.6	1.71
Depreciation Expense	67	75	85	91	93	141	160	164	163	175	184	179	165	144	177
Basic Weighted Avg Shares	55	57	63	65	65	65	65	65	65	66	66	66	66	66	69
Basic EPS, GAAP	1.3	1.62	1.09	0.97	0.8	-1.19	1.56	-1.73	1.43	3.04	4.62	3.64	3.65	5.06	6.72
Basic EPS from Cont Ops	1.4	1.72	1.16	0.98	0.81	-1.27	1.42	-1.83	1.36	3	4.62	3.66	3.66	5.06	6.79
Diluted Weighted Avg Shares	55	57	63	65	65	65	65	65	66	66	66	66	66	66	70
Diluted EPS, GAAP	1.29	1.61	1.09	0.96	0.8	-1.19	1.56	-1.73	1.43	3.04	4.61	3.64	3.64	5.05	6.7
Diluted EPS from Cont Ops	1.4	1.71	1.16	0.98	0.81	-1.27	1.42	-1.83	1.36	2.99	4.61	3.65	3.65	5.05	6.78

Balance Sheet (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	169	445	744	736	797	168	144	126	155	362	297	186	167	275	377
+ Cash, Cash Equivalents & STI	114	375	664	660	749	117	86	89	119	319	226	119	104	195	234
+ Cash & Cash Equivalents	114	375	664	660	743	117	86	89	119	319	226	119	104	195	234
+ ST Investments	- -	- -	- -	- -	6	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	49	65	66	69	44	41	49	26	23	30	52	52	52	65	113
+ Accounts Receivable, Net	49	54	50	47	38	18	27	26	21	28	47	49	49	63	111
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	11	15	22	6	23	22	- -	3	2	5	3	3	1	2
+ Inventories	- -	- -	- -	- -	2	9	8	9	11	12	18	13	10	13	26
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	2	9	8	9	11	12	18	13	10	13	26
+ Other ST Assets	6	5	15	8	2	1	1	1	- -	1	2	2	2	2	5
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	1,733	1,931	2,161	2,156	2,120	2,902	2,950	2,556	2,389	2,404	2,354	3,349	3,194	3,117	9,160
+ Property, Plant & Equip, Net	1,690	1,891	2,120	2,109	2,084	2,848	2,892	2,501	2,339	2,319	2,262	3,237	3,076	3,043	8,584
+ Property, Plant & Equip	1,882	2,158	2,472	2,552	2,620	3,455	3,624	3,636	3,398	3,554	3,619	4,876	4,874	4,986	10,703
- Accumulated Depreciation	192	267	351	443	536	607	732	1,135	1,059	1,235	1,357	1,638	1,799	1,943	2,119
+ LT Investments & Receivables	29	15	10	10	6	- -	- -	- -	- -	- -	- -	- -	- -	- -	474
+ LT Investments	29	15	10	10	6	- -	- -	- -	- -	- -	- -	- -	- -	- -	474
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	14	25	31	37	30	54	58	55	50	85	92	111	118	74	102
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	14	25	31	37	30	54	58	55	50	85	92	111	118	74	102
Total Assets	1,903	2,376	2,905	2,892	2,917	3,070	3,094	2,682	2,544	2,766	2,652	3,535	3,361	3,392	9,538
+ Payables & Accruals	9	12	31	20	19	22	29	47	27	34	41	47	53	63	84
+ Accounts Payable	2	3	3	4	5	4	4	9	3	2	6	7	11	11	10
+ Accrued Taxes	1	- -	16	2	- -	3	9	22	7	13	14	16	16	23	33
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	6	9	13	14	14	15	16	16	17	18	20	25	26	30	40
+ ST Debt	16	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Borrowings	16	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	4	3	4	3	6	4	6	4	6	9	12	16	19	22	37
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	4	3	4	3	6	4	6	4	6	9	12	16	19	22	37
Total Current Liabilities	29	15	35	23	25	26	34	51	34	44	52	64	72	85	121
+ LT Debt	210	293	302	312	314	601	586	351	215	300	- -	572	246	- -	895
+ LT Borrowings	210	293	302	312	314	601	586	351	215	300	- -	572	246	- -	895
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	176	204	197	185	162	157	153	138	126	120	96	146	142	176	1,316
+ Accrued Liabilities	153	182	174	170	147	134	121	91	89	86	88	138	134	157	1,260
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	23	22	23	15	16	23	32	47	37	34	8	8	8	18	56
Total Noncurrent Liabilities	386	498	500	496	476	758	740	489	340	421	96	717	388	176	2,211
Total Liabilities	415	513	535	519	501	784	774	541	374	464	148	781	460	261	2,332
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	1,360	1,692	2,172	2,165	2,171	2,180	2,186	2,193	2,202	2,211	2,205	2,214	2,222	2,229	5,929
+ Common Stock	40	36	30	17	1	1	1	1	1	1	1	1	1	1	1
+ Additional Paid in Capital	1,320	1,656	2,142	2,148	2,171	2,180	2,186	2,193	2,202	2,210	2,204	2,213	2,221	2,228	5,928
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	100	160	181	190	185	49	88	-90	-66	61	286	527	667	890	1,227
+ Other Equity	- -	-14	-5	- -	-3	- -	1	-1	- -	- -	- -	- -	- -	- -	1
Equity Before Minority Interest	1,460	1,838	2,349	2,355	2,353	2,229	2,275	2,102	2,137	2,272	2,491	2,741	2,888	3,119	7,157
+ Minority/Non Controlling Interest	28	25	22	18	63	57	45	39	34	30	13	12	12	12	48
Total Equity	1,488	1,863	2,371	2,373	2,416	2,286	2,320	2,141	2,170	2,302	2,503	2,753	2,901	3,131	7,205
Total Liabilities & Equity	1,903	2,376	2,905	2,892	2,917	3,070	3,094	2,682	2,544	2,766	2,652	3,535	3,361	3,392	9,538
Shares Outstanding	55	59	65	65	65	65	65	65	65	66	66	66	66	66	84
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	112	-82	-362	-348	-429	484	500	262	95	-19	-226	453	142	-195	662
Net Debt to Equity	7.52	-4.41	-15.26	-14.65	-17.76	21.18	21.56	12.25	4.38	-0.81	-9.02	16.45	4.89	-6.24	9.18
Tangible Common Equity Ratio	78.19	78.42	81.6	82.05	82.82	74.47	74.99	79.84	85.31	83.22	94.41	77.9	86.3	92.31	75.55
Current Ratio	5.87	29.27	21.22	32.7	31.92	6.5	4.19	2.45	4.6	8.31	5.71	2.92	2.31	3.23	3.12
Cash Conversion Cycle	63.58	60.25	55.25	63.21	46.58	30.81	25.4	24.29	26.89	29.98	35.52	40.31	32.47	29.25	41.84

Cash Flow Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	77	98	73	63	53	-82	92	-119	89	196	303	240	240	332	472
+ Depreciation & Amortization	67	75	85	91	93	141	160	164	163	175	184	179	165	144	177
+ Non-Cash Items	-3	1	10	9	21	114	20	230	27	-22	-33	-5	4	21	52
+ Stock-Based Compensation	6	7	6	3	5	10	10	8	7	9	6	8	10	12	12
+ Deferred Income Taxes	-5	2	-11	-8	-28	-5	2	-33	-2	-32	- -	-20	-6	8	-4
+ Asset Impairment Charge	- -	- -	- -	- -	31	99	- -	239	- -	1	- -	4	- -	- -	- -
+ Other Non-Cash Adj	-5	-7	15	15	12	10	9	15	22	- -	-39	2	1	1	44
+ Chg in Non-Cash Work Cap	5	-13	4	-17	25	-3	-6	55	-26	-9	-46	3	7	31	4
+ (Inc) Dec in Accts Receiv	-8	-12	- -	-2	19	5	-20	23	3	-7	-22	7	1	-13	-19
+ (Inc) Dec in Inventories	- -	- -	- -	-3	1	-7	2	-1	-2	- -	-6	-1	3	-3	-12
+ (Inc) Dec in Prepaid Assets	2	- -	-12	11	3	- -	-2	3	3	-8	- -	-4	-4	11	1
+ Inc (Dec) in Accts Payable	-1	1	15	-12	3	-3	4	18	-18	6	4	-3	4	-1	-26
+ Inc (Dec) in Other	12	-1	1	-10	- -	2	11	13	-12	- -	-23	4	3	38	59
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	147	162	173	147	192	169	267	329	253	341	407	417	416	530	705
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	345	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	345	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-280	-277	-314	-80	-60	-1,346	-204	-12	-1	-156	-168	-922	-3	-103	-1,165
+ Acq of Fixed Prod Assets	-280	-277	-314	-80	-60	-1,346	-204	-12	-1	-156	-168	-922	-3	-103	-1,165
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	272	474	1	1	- -	-2	-4	-2	-4	-1	-1	-1	-5	-5
+ Increase in Capital Stock	- -	272	474	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	-2	-4	-2	-4	-1	-1	-1	-5	-5
+ Net Change in LT Investment	-29	- -	- -	- -	- -	12	- -	-18	-4	- -	9	- -	- -	- -	159
+ Dec in LT Investment	- -	- -	- -	- -	- -	12	- -	- -	- -	- -	9	- -	- -	- -	159
+ Inc in LT Investment	-29	- -	- -	- -	- -	- -	- -	-18	-4	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	10	- -	- -	- -	- -	- -	61	- -	- -	- -	-421
+ Cash from Divestitures	- -	- -	- -	- -	10	- -	- -	- -	- -	- -	61	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-421
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	2	5	5	-5	-1	-20	4	19	-1	4	-19	-1	- -	25	8
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-306	-271	-309	-85	-51	-1,010	-200	-11	-6	-153	-117	-923	-3	-78	-1,419
+ Dividends Paid	-22	-30	-44	-53	-56	-59	-61	-64	-67	-71	-76	-92	-99	-105	-119
+ Net Cash From Debt	-23	131	- -	- -	- -	625	45	-250	70	285	-305	1,150	-650	-250	900
+ Cash From Debt	19	457	- -	- -	- -	700	140	- -	440	400	- -	1,400	- -	- -	1,275
+ Repayments of Debt	-42	-326	- -	- -	- -	-75	-95	-250	-370	-115	-305	-250	-650	-250	-375
+ Other Financing Activities	-6	-2	-4	-15	-2	-352	-79	3	-218	-198	-1	-576	323	-1	-25
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-51	370	425	-67	-58	214	-98	-315	-217	12	-384	481	-427	-360	752
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-211	261	289	-4	83	-626	-31	3	31	200	-93	-25	-14	91	38
EBITDA	186	233	256	200	212	245	306	329	304	376	487	467	468	574	842
EBITDA Margin (%)	86.07	88.56	88.58	84.36	76.27	67.96	69.32	71.57	71.8	75.32	79.12	77.41	77.29	79.83	81.69
Free Cash Flow	-133	-115	-142	67	132	-1,177	63	317	252	185	239	-505	413	427	-460
Net Cash Paid for Acquisitions	- -	- -	- -	- -	-10	- -	- -	- -	- -	- -	-61	- -	- -	- -	421
Free Cash Flow to Firm	-128	-110	-128	85	153	- -	91	- -	277	- -	245	-490	439	435	-436
Free Cash Flow to Equity	-156	16	-142	67	132	-207	108	67	322	470	-66	645	-237	177	440
Free Cash Flow per Basic Share	-2.42	-2	-2.24	1.04	2.03	-18.08	0.97	4.86	3.86	2.82	3.65	-7.7	6.3	6.5	-6.62
Price/Free Cash Flow	7.59	10.27	5.48	21.79	15.88	3.09	10.84	17.8	26.41	16.43	13.02	5.53	19	13.72	8.27
Cash Flow to Net Income	2.06	1.75	2.5	2.35	3.7	-2.19	2.63	-2.91	2.7	1.71	1.35	1.75	1.74	1.59	1.51
Capital Expenditures	-280	-277	-314	-80	-60	-1,346	-204	-12	-1	-156	-168	-922	-3	-103	-1,165