Royal Gold Inc (RGLD) - Net Assets
Based on the latest financial reports, Royal Gold Inc (RGLD) has net assets worth $7.46 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($9.49 Billion) and total liabilities ($2.03 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how strategically is Royal Gold Inc's equity deployed to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $7.46 Billion |
| % of Total Assets | 78.64% |
| Annual Growth Rate | 17.49% |
| 5-Year Change | 177.0% |
| 10-Year Change | 215.21% |
| Growth Volatility | 61.33 |
Royal Gold Inc - Net Assets Trend (1985–2025)
This chart illustrates how Royal Gold Inc's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Royal Gold Inc (RGLD) market capitalisation.
Annual Net Assets for Royal Gold Inc (1985–2025)
The table below shows the annual net assets of Royal Gold Inc from 1985 to 2025. Also explore Royal Gold Inc (RGLD) net asset momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $7.21 Billion | +130.11% |
| 2024-12-31 | $3.13 Billion | +7.95% |
| 2023-12-31 | $2.90 Billion | +5.34% |
| 2022-12-31 | $2.75 Billion | +5.85% |
| 2021-12-31 | $2.60 Billion | +3.91% |
| 2020-12-31 | $2.50 Billion | +15.34% |
| 2019-12-31 | $2.17 Billion | +1.36% |
| 2018-12-31 | $2.14 Billion | -7.71% |
| 2017-12-31 | $2.32 Billion | +1.50% |
| 2016-12-31 | $2.29 Billion | -5.38% |
| 2015-12-31 | $2.42 Billion | +1.83% |
| 2014-12-31 | $2.37 Billion | +0.08% |
| 2013-12-31 | $2.37 Billion | +27.22% |
| 2012-12-31 | $1.86 Billion | +25.26% |
| 2011-12-31 | $1.49 Billion | +3.78% |
| 2010-12-31 | $1.43 Billion | +88.52% |
| 2009-12-31 | $760.41 Million | +53.73% |
| 2008-12-31 | $494.63 Million | +49.80% |
| 2007-12-31 | $330.20 Million | +104.26% |
| 2006-12-31 | $161.66 Million | +76.22% |
| 2005-12-31 | $91.74 Million | +10.66% |
| 2004-12-31 | $82.90 Million | +10.54% |
| 2003-12-31 | $74.99 Million | +176.04% |
| 2002-12-31 | $27.17 Million | +74.58% |
| 2001-12-31 | $15.56 Million | +0.39% |
| 2000-12-31 | $15.50 Million | +42.21% |
| 1999-12-31 | $10.90 Million | -45.50% |
| 1998-12-31 | $20.00 Million | +12.99% |
| 1997-12-31 | $17.70 Million | +32.09% |
| 1996-12-31 | $13.40 Million | +34.00% |
| 1995-12-31 | $10.00 Million | +28.21% |
| 1994-12-31 | $7.80 Million | +239.13% |
| 1992-12-31 | $2.30 Million | +155.56% |
| 1991-12-31 | $900.00K | -43.75% |
| 1990-12-31 | $1.60 Million | -84.47% |
| 1989-12-31 | $10.30 Million | -10.43% |
| 1988-12-31 | $11.50 Million | -32.35% |
| 1987-12-31 | $17.00 Million | +4.94% |
| 1986-12-31 | $16.20 Million | +42.11% |
| 1985-12-31 | $11.40 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Royal Gold Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 123576900000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.23 Billion | 17.15% |
| Common Stock | $845.00K | 0.01% |
| Other Comprehensive Income | $993.00K | 0.01% |
| Other Components | $5.93 Billion | 82.83% |
| Total Equity | $7.16 Billion | 100.00% |
Royal Gold Inc Competitors by Market Cap
The table below lists competitors of Royal Gold Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
BOUYGUES UNSP.ADR 1/5/EO1
F:BYG0
|
$20.29 Billion |
|
Partners Group Holding AG
SW:PGHN
|
$20.31 Billion |
|
STERIS plc
NYSE:STE
|
$20.36 Billion |
|
SK Holdings Co Ltd
KO:034730
|
$20.37 Billion |
|
Pan American Silver Corp
TO:PAAS
|
$20.26 Billion |
|
Publicis Groupe SA
PA:PUB
|
$20.20 Billion |
|
Telia Company AB
ST:TELIA
|
$20.18 Billion |
|
MTU Aero Engines AG
XETRA:MTX
|
$20.17 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Royal Gold Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,118,957,000 to 7,157,130,000, a change of 4,038,173,000 (129.5%).
- Net income of 466,281,000 contributed positively to equity growth.
- Dividend payments of 118,525,000 reduced retained earnings.
- Share repurchases of 5,032,000 reduced equity.
- Other comprehensive income increased equity by 993,000.
- Other factors increased equity by 3,694,456,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $466.28 Million | +6.51% |
| Dividends Paid | $118.53 Million | -1.66% |
| Share Repurchases | $5.03 Million | -0.07% |
| Other Comprehensive Income | $993.00K | +0.01% |
| Other Changes | $3.69 Billion | +51.62% |
| Total Change | $- | 129.47% |
Book Value vs Market Value Analysis
This analysis compares Royal Gold Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.39x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 132.39x to 2.39x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $1.85 | $245.51 | x |
| 1986-12-31 | $2.43 | $245.51 | x |
| 1987-12-31 | $2.13 | $245.51 | x |
| 1988-12-31 | $1.33 | $245.51 | x |
| 1989-12-31 | $1.17 | $245.51 | x |
| 1990-12-31 | $0.18 | $245.51 | x |
| 1991-12-31 | $0.10 | $245.51 | x |
| 1992-12-31 | $0.23 | $245.51 | x |
| 1994-12-31 | $0.57 | $245.51 | x |
| 1995-12-31 | $0.70 | $245.51 | x |
| 1996-12-31 | $0.89 | $245.51 | x |
| 1997-12-31 | $1.12 | $245.51 | x |
| 1998-12-31 | $1.20 | $245.51 | x |
| 1999-12-31 | $0.64 | $245.51 | x |
| 2000-12-31 | $0.88 | $245.51 | x |
| 2001-12-31 | $0.88 | $245.51 | x |
| 2002-12-31 | $1.50 | $245.51 | x |
| 2003-12-31 | $3.67 | $245.51 | x |
| 2004-12-31 | $3.92 | $245.51 | x |
| 2005-12-31 | $4.35 | $245.51 | x |
| 2006-12-31 | $6.99 | $245.51 | x |
| 2007-12-31 | $12.73 | $245.51 | x |
| 2008-12-31 | $15.39 | $245.51 | x |
| 2009-12-31 | $20.94 | $245.51 | x |
| 2010-12-31 | $31.92 | $245.51 | x |
| 2011-12-31 | $26.39 | $245.51 | x |
| 2012-12-31 | $31.99 | $245.51 | x |
| 2013-12-31 | $37.03 | $245.51 | x |
| 2014-12-31 | $36.21 | $245.51 | x |
| 2015-12-31 | $36.13 | $245.51 | x |
| 2016-12-31 | $34.25 | $245.51 | x |
| 2017-12-31 | $34.86 | $245.51 | x |
| 2018-12-31 | $32.20 | $245.51 | x |
| 2019-12-31 | $32.62 | $245.51 | x |
| 2020-12-31 | $37.95 | $245.51 | x |
| 2021-12-31 | $39.45 | $245.51 | x |
| 2022-12-31 | $41.75 | $245.51 | x |
| 2023-12-31 | $43.93 | $245.51 | x |
| 2024-12-31 | $47.40 | $245.51 | x |
| 2025-12-31 | $102.89 | $245.51 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Royal Gold Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.51%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 45.25%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 1.33x
- Recent ROE (6.51%) is above the historical average (-19.46%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | -131.58% | -375.00% | 0.31x | 1.12x | $-16.14 Million |
| 1986 | -35.80% | -828.57% | 0.04x | 1.08x | $-7.42 Million |
| 1987 | -2.35% | -8.51% | 0.26x | 1.07x | $-2.10 Million |
| 1988 | -39.13% | -78.95% | 0.44x | 1.13x | $-5.65 Million |
| 1989 | -14.56% | -21.43% | 0.61x | 1.11x | $-2.53 Million |
| 1990 | -556.25% | -2225.00% | 0.15x | 1.63x | $-9.06 Million |
| 1991 | -66.67% | -600.00% | 0.05x | 2.11x | $-690.00K |
| 1992 | -26.09% | -300.00% | 0.07x | 1.17x | $-830.00K |
| 1994 | -19.23% | -750.00% | 0.02x | 1.05x | $-2.28 Million |
| 1995 | -20.00% | -333.33% | 0.06x | 1.03x | $-3.00 Million |
| 1996 | 4.48% | 16.22% | 0.26x | 1.05x | $-740.00K |
| 1997 | 23.16% | 50.00% | 0.43x | 1.07x | $2.33 Million |
| 1998 | -17.50% | -269.23% | 0.06x | 1.05x | $-5.50 Million |
| 1999 | -80.73% | -880.00% | 0.08x | 1.08x | $-9.89 Million |
| 2000 | 25.50% | 42.02% | 0.54x | 1.13x | $2.40 Million |
| 2001 | 7.31% | 19.09% | 0.35x | 1.11x | $-417.88K |
| 2002 | 39.38% | 86.82% | 0.42x | 1.09x | $7.98 Million |
| 2003 | 9.00% | 42.77% | 0.18x | 1.15x | $-746.90K |
| 2004 | 10.70% | 41.55% | 0.23x | 1.13x | $581.85K |
| 2005 | 12.49% | 45.27% | 0.25x | 1.12x | $2.28 Million |
| 2006 | 7.02% | 39.99% | 0.17x | 1.06x | $-4.82 Million |
| 2007 | 6.18% | 40.78% | 0.14x | 1.12x | $-12.19 Million |
| 2008 | 4.98% | 36.27% | 0.12x | 1.13x | $-24.28 Million |
| 2009 | 5.12% | 51.98% | 0.09x | 1.08x | $-36.60 Million |
| 2010 | 1.53% | 15.74% | 0.07x | 1.33x | $-118.88 Million |
| 2011 | 4.89% | 32.98% | 0.11x | 1.30x | $-74.62 Million |
| 2012 | 5.03% | 35.15% | 0.11x | 1.29x | $-91.37 Million |
| 2013 | 2.94% | 24.68% | 0.10x | 1.24x | $-165.74 Million |
| 2014 | 2.66% | 27.19% | 0.08x | 1.23x | $-172.83 Million |
| 2015 | 2.21% | 19.06% | 0.09x | 1.24x | $-183.35 Million |
| 2016 | -3.46% | -21.68% | 0.12x | 1.38x | $-300.05 Million |
| 2017 | 4.46% | 23.12% | 0.14x | 1.36x | $-126.01 Million |
| 2018 | -5.38% | -24.77% | 0.17x | 1.28x | $-323.35 Million |
| 2019 | 4.39% | 22.40% | 0.16x | 1.19x | $-119.84 Million |
| 2020 | 12.15% | 49.12% | 0.23x | 1.06x | $53.46 Million |
| 2021 | 10.59% | 42.48% | 0.23x | 1.07x | $15.17 Million |
| 2022 | 8.72% | 40.09% | 0.17x | 1.29x | $-35.13 Million |
| 2023 | 8.29% | 40.01% | 0.18x | 1.16x | $-49.38 Million |
| 2024 | 10.65% | 46.58% | 0.21x | 1.09x | $20.13 Million |
| 2025 | 6.51% | 45.25% | 0.11x | 1.33x | $-249.43 Million |
Industry Comparison
This section compares Royal Gold Inc's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $257,954,034
- Average return on equity (ROE) among peers: -21.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Royal Gold Inc (RGLD) | $7.46 Billion | -131.58% | 0.27x | $20.28 Billion |
| Allied Gold Corporation (AAUC) | $416.30 Million | -27.78% | 2.17x | $1.61 Billion |
| Aura Minerals Inc. Common Shares (AUGO) | $272.27 Million | 15.98% | 1.18x | $6.37 Billion |
| Austin Gold Corp (AUST) | $11.33 Million | -35.31% | 0.06x | $17.66 Million |
| Barrick Mining Corporation (B) | $138.80 Million | 66.57% | 1.46x | $71.29 Billion |
| Blue Gold Limited Class A Ordinary Shares (BGL) | $228.04 Million | 6.07% | 0.05x | $8.26 Million |
| Coeur Mining Inc (CDE) | $47.30 Million | -173.98% | 2.66x | $19.51 Billion |
| Caledonia Mining Corporation (CMCL) | $224.20 Million | -3.51% | 0.46x | $440.34 Million |
| Collective Mining Ltd. (CNL) | $1.23 Billion | 15.90% | 2.29x | $1.45 Billion |
| Contango ORE Inc (CTGO) | $12.81 Million | -78.29% | 0.14x | $346.52 Million |
| Dakota Gold Corp. (DC) | $-2.37 Million | 0.00% | 0.00x | $698.29 Million |
About Royal Gold Inc
Royal Gold, Inc., together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests in North America, South and Central America, Europe, the Middle East, Africa, and the Australia Pacific. It operates through Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments. The company engages in the acquisitio… Read more