RGLD Royal Gold margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 95

Gross margin

86%

Operating margin

62%

EBITDA margin

80.8%

Net margin

47.4%

Based on the latest figures, Royal Gold reports a gross margin of 86%, an operating margin of 62%, an EBITDA margin of 80.8%, and a net margin of 47.4%. Net margin had the largest decline, contracting by 8.5 percentage points, while the other available margins also decreased.

RGLD margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Royal Gold recorded average margins of 85.6% gross, 59.08% operating, 79.72% EBITDA, and 46.51% net. The current gross, operating, EBITDA, and net margins are all above their three-year averages.

RGLD margin expansion

Year-over-year margin changes in percentage points

Royal Gold's gross margin contracted by 0.8 percentage points, operating margin by 3.4 percentage points, EBITDA margin by 0.7 percentage points, and net margin by 8.5 percentage points, led by net margin with a decline of 8.5 percentage points.

Gross margin expansion

-0.8pp

Operating margin expansion

-3.4pp

EBITDA margin expansion

-0.7pp

Net margin expansion

-8.5pp

RGLD Gross margin

Across the last 3 years, Royal Gold had an average gross margin of 85.6%. Against its three-year average, Royal Gold's gross margin is currently 86%, 0.4 percentage points above its three-year average. Looking back over the last 3 years, Royal Gold's gross margin reached 86.8% at its highest point in Sep 2025 and 83.9% at its lowest in Dec 2023.

RGLD Operating margin

Over the last 3 years, Royal Gold recorded an average operating margin of 59.08%. Royal Gold's current operating margin is 62% and is 2.9 percentage points above its three-year average. The highest operating margin for Royal Gold was 65.4% in Sep 2025, while the lowest was 50.1% in Dec 2023.

RGLD EBITDA margin

Across the last 3 years, Royal Gold's EBITDA margin came to 79.72%. The current EBITDA margin stands at 80.8%, 1.1 percentage points above its three-year average. EBITDA margin was highest at 82.2% in Jun 2025 and lowest at 75.2% in Dec 2025.

RGLD Net margin

Looking back over the last 3 years, Royal Gold recorded an average net margin of 46.51%. Against its three-year average, Royal Gold's net margin is currently 47.4%, 0.9 percentage points above its three-year average. The highest net margin for Royal Gold was 56.2% in Jun 2025, while the lowest was 38.1% in Mar 2024.

RGLD margin group comparison

Margins compared with peer-group, industry and sector averages

Royal Gold's gross margin of 86% is higher than the Basic Materials sector and the industry average. Looking at the Basic Materials sector average of 32.1%, Royal Gold's gross margin is 168% higher.

RGLD margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Royal Gold's gross margin?

As of Sep 30, 2026, RGLD has a gross margin of 86%.

What is Royal Gold's operating margin?

As of Sep 30, 2026, RGLD has an operating margin of 62%.

What is Royal Gold's EBITDA margin?

For the period ending Sep 30, 2026, RGLD recorded an EBITDA margin of 80.8%.

What is Royal Gold's net margin?

For the period ending Sep 30, 2026, RGLD recorded a net margin of 47.4%.

What are the average margins of RGLD?

Across the last 3 years, RGLD averaged 85.6% gross, 59.1% operating, 79.7% EBITDA, and 46.5% net.

What are the highest historical margins of RGLD?

In the last 5 years, the highest margins reported by RGLD were 86.8% gross in Sep 2025, 65.4% operating in Sep 2025, 82.2% EBITDA in Jun 2025, and 56.2% net in Jun 2025.

What are the lowest historical margins of RGLD?

Within the 5-year period, RGLD recorded its lowest margins at 83% gross in Mar 2023, 47% operating in Dec 2022, 75.2% EBITDA in Dec 2025, and 37.8% net in Jun 2023.