Royal Gold, Inc. (RGLD) Income Statement
RGLD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRGLD revenue and net income
Where RGLD's revenue goes
2025Each bar shows an amount and its share of revenue. RGLD kept 45.2% of revenue as net income.
RGLD profit margins
RGLD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +44.6% | +20.0% | +10.8% | +14.2% |
| Gross profit | +16.0% | +12.5% | +16.5% | +11.6% |
| Operating income | +54.6% | +32.8% | +14.5% | +19.1% |
| Net income | +40.4% | +25.0% | +9.0% | +24.5% |
| EPS (diluted) | +38.8% | +28.8% | +19.9% | +21.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RGLD quarterly EPS vs estimates
Royal Gold beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 4, 2026 (estimate $2.20).
RGLD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.03B | $712.8M | $598.4M | $596.2M | $645.2M | $615.9M | $418.9M | $456.8M | $439.1M | $355.8M |
| Cost of revenue | $316.6M | $97.5M | $90.5M | $94.6M | $98.5M | $283.2M | $77.5M | $83.8M | $87.3M | $71.0M |
| Gross profit | $713.9M | $615.3M | $507.9M | $501.5M | $546.7M | $332.6M | $341.4M | $372.9M | $351.8M | $284.8M |
| Sales, general & admin | $49.2M | $40.9M | $39.8M | $34.6M | $29.3M | $28.4M | $37.6M | $44.4M | $46.2M | $40.3M |
| Total operating expenses | $49.2M | $185.4M | $204.7M | $217.8M | $218.3M | −$5.0M | $200.7M | $447.5M | $205.8M | $280.0M |
| Operating income | $664.7M | $429.9M | $303.2M | $283.7M | $328.4M | $337.6M | $140.7M | −$74.5M | $145.9M | $100.9M |
| Interest income | $14.4M | $6.0M | $10.0M | $7.8M | — | $2.4M | $2.0M | — | — | — |
| Interest expense | $23.4M | $9.7M | $28.4M | $10.0M | $519,000 | $3.3M | $29.6M | $34.2M | $36.4M | $32.6M |
| Income before taxes | $573.9M | $426.1M | $282.1M | $272.9M | $328.2M | $339.6M | $106.6M | −$104.6M | $118.9M | −$21.8M |
| Income taxes | $102.3M | $93.6M | $42.0M | $32.9M | $53.2M | $36.9M | $17.5M | $14.8M | $26.4M | $60.7M |
| Net income | $466.3M | $332.0M | $239.4M | $239.0M | $274.0M | $302.5M | $93.8M | −$113.1M | $101.5M | −$77.1M |
| EBITDA | $774.3M | $580.3M | $475.5M | $461.8M | $516.7M | $529.6M | $303.8M | $328.5M | $305.6M | $244.5M |
| EPS (diluted) | $7.30 | $5.26 | $3.55 | $3.42 | $4.00 | $2.95 | $2.07 | $1.50 | $1.52 | $1.43 |
| Gross margin | 69.3% | 86.3% | 84.9% | 84.1% | 84.7% | 54.0% | 81.5% | 81.6% | 80.1% | 80.1% |
| Operating margin | 64.5% | 60.3% | 50.7% | 47.6% | 50.9% | 54.8% | 33.6% | −16.3% | 33.2% | 28.4% |
| Net margin | 45.2% | 46.6% | 40.0% | 40.1% | 42.5% | 49.1% | 22.4% | −24.8% | 23.1% | −21.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $450.5M | $469.1M | $375.3M | $252.1M | $209.6M | $191.7M | $202.6M | $192.3M | $172.5M | $147.5M | $152.7M | $136.9M |
| Cost of revenue | $159.5M | $154.5M | $133.1M | $66.7M | $57.5M | $24.5M | $60.2M | $27.2M | $24.2M | $21.8M | $63.2M | $21.4M |
| Gross profit | $291.1M | $314.6M | $242.2M | $185.4M | $152.1M | $167.2M | $142.4M | $165.1M | $148.3M | $125.7M | $89.4M | $115.6M |
| Sales, general & admin | $13.4M | $17.5M | $17.6M | $10.2M | $10.3M | $11.1M | $8.9M | $10.1M | $10.5M | $11.4M | $9.7M | $9.9M |
| Total operating expenses | $11.1M | $17.5M | $17.6M | $10.2M | $10.3M | $44.1M | $8.9M | $46.3M | $46.3M | $50.2M | $9.7M | $50.0M |
| Operating income | $279.9M | $297.1M | $224.6M | $175.1M | $141.8M | $123.1M | $133.4M | $118.8M | $102.1M | $75.5M | $79.7M | $65.6M |
| Interest income | $3.6M | $3.2M | $2.9M | $6.8M | $2.7M | $2.0M | $1.6M | $626,000 | $807,000 | $3.0M | $2.6M | $2.4M |
| Interest expense | $10.0M | $13.2M | $12.1M | $8.6M | $1.5M | $1.2M | $1.4M | $1.2M | $1.7M | $4.6M | $5.4M | $6.7M |
| Income before taxes | $295.8M | $307.1M | $146.4M | $160.5M | $143.0M | $124.0M | $133.6M | $117.8M | $100.3M | $74.3M | $76.3M | $60.3M |
| Income taxes | $58.2M | $25.4M | $52.7M | $28.7M | $10.5M | $10.4M | $26.1M | $21.5M | $19.0M | $27.0M | $13.4M | $10.8M |
| Net income | $236.4M | $281.1M | $93.6M | $126.8M | $132.3M | $113.5M | $107.4M | $96.2M | $81.2M | $47.2M | $62.8M | $49.3M |
| EBITDA | $353.8M | $411.2M | $238.5M | $202.0M | $175.7M | $158.1M | $168.8M | $155.2M | $137.8M | $117.7M | $122.4M | $107.1M |
| EPS (diluted) | $2.56 | $2.72 | $1.92 | $2.06 | $1.81 | $1.51 | $1.63 | $1.47 | $1.25 | $0.91 | $0.95 | $0.76 |
| Gross margin | 64.6% | 67.1% | 64.5% | 73.5% | 72.6% | 87.2% | 70.3% | 85.9% | 86.0% | 85.2% | 58.6% | 84.4% |
| Operating margin | 62.1% | 63.3% | 59.8% | 69.5% | 67.7% | 64.2% | 65.9% | 61.8% | 59.2% | 51.2% | 52.2% | 47.9% |
| Net margin | 52.5% | 59.9% | 24.9% | 50.3% | 63.1% | 59.2% | 53.0% | 50.0% | 47.1% | 32.0% | 41.1% | 36.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RGLD's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RGLD financial results
In fiscal year 2025 (ended December 31, 2025), Royal Gold reported revenue of $1.0 billion, up 44.6% from the year before. It had net income of $466.3 million (up 40.4%), a net profit margin of 45.2%. Diluted earnings per share came to $7.30. Over five years revenue grew at an average rate of 10.8% a year.
See the RGLD stock overview for the latest quote and news, or the RGLD chart for price history and technical indicators.
RGLD income statement FAQ
What is Royal Gold's annual revenue?
Royal Gold reported total revenue of $1.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 44.6% from $712.8 million the previous year.
Is Royal Gold profitable?
Yes. Royal Gold reported net income of $466.3 million in fiscal 2025, a net profit margin of 45.2%; its operating margin was 64.5%.
What is Royal Gold's gross margin?
Royal Gold's gross margin was 69.3% in fiscal 2025: for every $100 of revenue, Royal Gold kept $69 after the direct cost of its products and services.
How fast is Royal Gold growing?
Revenue grew 10.8% a year on average over the last five fiscal years, from $615.9 million to $1.0 billion.
What are Royal Gold's earnings per share?
Royal Gold earned $7.30 per diluted share in fiscal 2025, compared with $5.26 a year earlier.
When will Royal Gold report its next earnings?
Royal Gold is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Royal Gold's fiscal year end?
Royal Gold's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.