The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/6Mixed
MissReturn on equity 15%+Earns a lot on the money owners have in the business.9.1%
PassDebt under half of equityNot relying on borrowed money.0.13x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.45.2%
MissProfitable every yearSteady profits, not one good year.8 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$704.8M
MissShare count not growingNot diluting owners. Falling means buybacks.+5.9% in 3 years
Revenue
$1.0B
+43.2% vs prior year
5-year growth
+15.6%/yr
revenue, per year
Total debt
$895.4M
0.13x equity
Free cash flow
$704.8M
68.4% of revenue
From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Oct 20Before open9:12 am ET
From the press release
Royal Gold's stream sales and preliminary royalty sales and depreciation, depletion and amortization ("DD&A") estimates 1 in the third quarter are as follows: .
The numbers below are the quarter before. The new quarter's full numbers come with the 10-Q. Read the press release ↗
Revenue
$450.5M
+114.9% YoY
EPS
$2.78
vs $2.01
Op. margin
62.1%
-5.6 pts
Gross margin
64.6%
-8.0 pts
Free cash flow
$335.2M
Share count
+29.2%
vs a year ago
Insider rating
Last 90 days
46Mixed
Pre-planned sales of $568K (weaker signal)
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
0.8
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady+2.6%
Institutions added 2.6% to their holdings. 365 bought, 385 sold.
Shares held by institutions71.8M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+8.8%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
0.1x · $395.9M debt
Shares outstandingLatest reported
85M
Why low risk
Share count growing 8.8% a year
Earnings reports
Last 12
Next reportAround Jan 12, 2027 (est.)Estimated from the same quarter last year
Results filedOct 20
Results filedAug 5
Results filedJul 21
Results filedMay 6
Results filedFeb 18
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days
No offerings, red flags or new big holders. Clean record.