ROYAL GOLD INC
RGLD · Mineral Royalty Traders · 84.9M shares · +0%/yr ↑ shares · EDGAR filings ↗
Reference price $215.85 · est. market cap ~$18.3B — last insider sale, 2026-06-16 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B80Royal Gold — gold/precious-metals royalty company with high margins.
Strengths
- Operating margin 62% (99th pct), net 45% (92nd)
- Capital-light royalty model, strong liquidity (current 3.1)
- High operating cash margin (94th)
Risks
- Gold-price dependence
- Counterparty/operator and single-project (Hod Maden) risk
- ROE only mid-pack (55th)
Notable findings
- Customer concentration~67% of revenue from one customer/distributor — Stream interests accounted for 67% of our total revenue for each of the years ended December 31, 2025 and 2024
- Strong balance sheetStrong balance sheet — $407M cash & investments
- Insider sellingInsider selling — 12 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$3M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
69.3%
Operating margin
61.9%
Net margin
45.2%
Return on equity
6.5%
Return on assets
4.9%
ROIC
6.3%
Revenue growth (QoQ)
25.0%
Net-income growth
40.4%
Debt / equity
0.1×
Net debt / EBITDA
0.6×
Current ratio
3.1×
EBITDA
$815M
Tangible book value
$7.2B
Cash & investments
$407M
Stock comp / revenue
1.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-16 | Shefman Randy | Sell | 500 | $215.85 |
| 2026-05-11 | Shefman Randy | Sell | 1.0K | $243.74 |
| 2026-03-12 | Isto Mark | Sell | 2.0K | $274.83 |
| 2026-03-11 | Crandall David R | Gift | 150 | — |
| 2026-03-04 | Libner Paul | Sell | 200 | $280.20 |
| 2026-03-04 | Libner Paul | Sell | 700 | $281.42 |
| 2026-03-04 | Libner Paul | Sell | 700 | $282.82 |
| 2026-03-04 | Libner Paul | Sell | 500 | $283.66 |
| 2026-03-04 | Libner Paul | Sell | 100 | $284.41 |
| 2026-03-04 | Libner Paul | Sell | 1.0K | $285.84 |
| 2026-03-02 | Heissenbuttel William Holmes | Tax withheld | 1.4K | $304.29 |
| 2026-03-02 | Breeze Daniel | Sell | 700 | $302.00 |
| 2026-03-02 | Shefman Randy | Tax withheld | 309 | $304.29 |
| 2026-03-02 | Breeze Daniel | Sell | 700 | $299.73 |
| 2026-03-02 | Libner Paul | Tax withheld | 515 | $304.29 |
| 2026-03-02 | Raffield Martin | Tax withheld | 213 | $304.29 |
| 2026-03-01 | Libner Paul | Tax withheld | 622 | $299.79 |
| 2026-03-01 | Crandall David R | Tax withheld | 232 | $299.79 |
| 2026-03-01 | Raffield Martin | Tax withheld | 354 | $299.79 |
| 2026-03-01 | Shefman Randy | Tax withheld | 368 | $299.79 |
| 2026-03-01 | Heissenbuttel William Holmes | Tax withheld | 1.6K | $299.79 |
| 2026-02-27 | Shefman Randy | Tax withheld | 312 | $299.79 |
| 2026-02-27 | Libner Paul | Tax withheld | 480 | $299.79 |
| 2026-02-27 | Raffield Martin | Tax withheld | 313 | $299.79 |
| 2026-02-27 | Crandall David R | Tax withheld | 192 | $299.79 |
| 2026-02-27 | Heissenbuttel William Holmes | Tax withheld | 1.2K | $299.79 |
| 2026-02-26 | Libner Paul | Grant | 340 | — |
| 2026-02-26 | Heissenbuttel William Holmes | Grant | 680 | — |
| 2026-02-26 | Shefman Randy | Grant | 340 | — |
| 2026-02-26 | Crandall David R | Grant | 914 | — |
| 2026-02-26 | Chubbs Fabiana | Grant | 561 | — |
| 2026-02-26 | Libner Paul | Grant | 1.6K | — |
| 2026-02-26 | Raffield Martin | Grant | 340 | — |
| 2026-02-26 | Breeze Daniel | Grant | 1.8K | — |
| 2026-02-26 | Breeze Daniel | Grant | 340 | — |
| 2026-02-26 | Raffield Martin | Grant | 1.6K | — |
| 2026-02-26 | Shefman Randy | Grant | 1.6K | — |
| 2026-02-26 | Hayes William M. | Grant | 561 | — |
| 2026-02-26 | Heissenbuttel William Holmes | Grant | 4.2K | — |
| 2026-02-20 | Hayes William M. | Sell | 4.2K | $277.07 |
| 2026-02-03 | Isto Mark | Gift | 580 | — |
| 2025-12-17 | Libner Paul | Gift | 463 | — |
| 2025-12-17 | Vance Ronald J | Sell | 300 | $218.53 |
| 2025-12-11 | Vance Ronald J | Sell | 500 | $218.29 |
| 2025-12-04 | Breeze Daniel | Sell | 970 | $202.23 |
| 2025-11-24 | Libner Paul | Gift | 225 | — |
| 2025-09-14 | Raffield Martin | Tax withheld | 18 | $189.32 |
| 2025-08-18 | Heissenbuttel William Holmes | Tax withheld | 657 | $171.55 |
| 2025-08-18 | Shefman Randy | Tax withheld | 186 | $171.55 |
| 2025-08-18 | Libner Paul | Tax withheld | 229 | $171.55 |
| 2025-06-10 | Libner Paul | Sell | 2.0K | $176.96 |
| 2025-04-22 | Heissenbuttel William Holmes | Option exercise | 1.2K | $83.29 |
| 2025-04-22 | Heissenbuttel William Holmes | Option exercise | 1.1K | $87.42 |
| 2025-04-22 | Heissenbuttel William Holmes | Tax withheld | 1.6K | $185.92 |
| 2025-04-22 | Heissenbuttel William Holmes | Option exercise | 1.3K | $77.73 |
| 2025-04-22 | Heissenbuttel William Holmes | Option exercise | 7.7K | $83.29 |
| 2025-04-22 | Heissenbuttel William Holmes | Option exercise | 8.1K | $87.42 |
| 2025-04-22 | Heissenbuttel William Holmes | Option exercise | 9.4K | $77.73 |
| 2025-04-22 | Heissenbuttel William Holmes | Disposition | 11K | $185.92 |
| 2025-04-22 | Heissenbuttel William Holmes | Tax withheld | 6.1K | $185.92 |
| 2025-03-17 | Shefman Randy | Sell | 1.3K | $154.98 |
| 2025-03-11 | Breeze Daniel | Sell | 705 | $154.00 |
| 2025-03-03 | Heissenbuttel William Holmes | Tax withheld | 2.7K | $147.56 |
| 2025-03-03 | Libner Paul | Tax withheld | 546 | $147.56 |
| 2025-03-03 | Shefman Randy | Grant | 1.4K | — |
| 2025-03-03 | Shefman Randy | Tax withheld | 546 | $147.56 |
| 2025-03-03 | Heissenbuttel William Holmes | Grant | 4.6K | — |
| 2025-03-03 | Libner Paul | Grant | 1.4K | — |
| 2025-03-03 | Raffield Martin | Grant | 1.2K | — |
| 2025-03-03 | Raffield Martin | Tax withheld | 471 | $147.56 |
| 2025-03-03 | Breeze Daniel | Grant | 1.6K | — |
| 2025-03-02 | Raffield Martin | Tax withheld | 213 | $147.00 |
| 2025-03-02 | Shefman Randy | Tax withheld | 302 | $147.00 |
| 2025-03-02 | Libner Paul | Tax withheld | 339 | $147.00 |
| 2025-03-02 | Heissenbuttel William Holmes | Tax withheld | 930 | $147.00 |
| 2025-03-01 | Libner Paul | Tax withheld | 439 | $147.00 |
| 2025-03-01 | Heissenbuttel William Holmes | Tax withheld | 1.1K | $147.00 |
| 2025-03-01 | Raffield Martin | Tax withheld | 390 | $147.00 |
| 2025-03-01 | Shefman Randy | Tax withheld | 403 | $147.00 |
| 2025-03-01 | Crandall David R | Disposition | 268 | $147.00 |
| 2025-02-27 | Hayes William M. | Grant | 1.0K | — |
| 2025-02-27 | Raffield Martin | Grant | 3.1K | — |
| 2025-02-27 | Libner Paul | Grant | 3.2K | — |
| 2025-02-27 | Crandall David R | Grant | 1.8K | — |
| 2025-02-27 | Breeze Daniel | Grant | 3.4K | — |
| 2025-02-27 | Heissenbuttel William Holmes | Grant | 8.3K | — |
| 2025-02-27 | Shefman Randy | Grant | 3.1K | — |
| 2025-02-27 | Vance Ronald J | Grant | 1.0K | — |
| 2025-01-15 | Heissenbuttel William Holmes | Sell | 1.5K | $136.45 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-26 | 2026-05-21 | 0000085535-26-000030 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0000085535-26-000028 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0000085535-26-000026 ↗ |
| 8-K | 2026-03-31 | 2026-03-31 | 0000085535-26-000013 ↗ |
| 10-K | 2026-02-19 | 2025-12-31 | 0000085535-26-000008 ↗ |
| 8-K | 2026-02-18 | 2026-02-18 | 0000085535-26-000005 ↗ |
| 8-K | 2026-01-13 | 2026-01-13 | 0000085535-26-000002 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0000085535-25-000165 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0000085535-25-000158 ↗ |
| 8-K | 2025-10-21 | 2025-10-20 | 0000085535-25-000149 ↗ |
| 8-K | 2025-10-14 | 2025-10-14 | 0000085535-25-000145 ↗ |
| 8-K | 2025-10-09 | 2025-10-09 | 0000085535-25-000143 ↗ |