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SEC filingRoyal Gold, Inc. reported strong financial results for fiscal year 2025, ending December 31, 2025. The company generated $1.03 billion in revenue, resulting in operating income of $638.2 million and net income attributable to common stockholders of $466.3 million. Basic and diluted earnings per share were $7.00. The company maintained robust cash flow from operations of $704.8 million, which supported significant investing activities including $1.16 billion in stream and royalty acquisitions and $411.3 million for the Sandstorm & Horizon acquisition. The balance sheet shows total assets of $9.54 billion, with stream and royalty interests comprising $8.58 billion of that total. Debt stood at $895.4 million against total equity of $7.21 billion, indicating a strong equity position. The company declared cash dividends of $2.00 per common share.
Royal Gold, Inc. delivered solid financial performance for the fiscal year ending December 31, 2025. The company reported revenue of $1.03 billion, operating income of $638.2 million, and net income attributable to common stockholders of $466.3 million. Basic and diluted earnings per share were both $7.00. The company's comprehensive income attributable to stockholders was $467.3 million. Operating cash flow was robust at $704.8 million, demonstrating strong cash generation from core operations. The balance sheet shows total assets of $9.54 billion, with stream and royalty interests representing the largest component at $8.58 billion. Total liabilities were $2.33 billion, resulting in total equity of $7.21 billion.
The company's revenue of $1.03 billion reflects its royalty and streaming business model. The document does not provide segment breakdowns, geographic mix, or specific growth drivers beyond the aggregate revenue figure. All revenue appears consolidated without disclosure of individual segment performance or geographic distribution.
Royal Gold achieved strong profitability metrics with an operating margin of approximately 62.0% (calculated as $638.2 million operating income divided by $1.03 billion revenue). The cost structure included cost of sales of $130.9 million, general and administrative expenses of $49.2 million, production taxes of $8.6 million, depreciation, depletion and amortization of $177.1 million, and acquisition related costs of $26.5 million. These costs totaled $392.3 million, resulting in the $638.2 million operating income. The company's net income margin (attributable to common stockholders) was approximately 45.3% ($466.3 million divided by $1.03 billion).
The company generated $704.8 million in operating cash flow, with net income of $471.6 million adjusted primarily for $177.1 million in depreciation, depletion and amortization. Investing activities used $1.42 billion, primarily for stream and royalty acquisitions ($1.16 billion) and the Sandstorm & Horizon acquisition ($411.3 million). Financing activities provided $751.9 million, including $1.27 billion in borrowings from the revolving credit facility offset by $375.0 million in debt repayment and $118.5 million in common stock dividends. The balance sheet shows cash and equivalents of $233.7 million, total current assets of $377.4 million, and total current liabilities of $120.9 million. Debt stands at $895.4 million against total equity of $7.21 billion, indicating a debt-to-equity ratio of approximately 0.12.
The document does not contain management guidance, strategic priorities, or specific risk factors beyond the presented financial statements. No forward-looking statements or outlook information is provided in the available content.