Filing Flows › Royal Gold (RGLD) › Q3 2025
Royal Gold (RGLD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Royal Gold (RGLD) reported revenue of $252M for the third quarter 2025 (Q3 2025), +30% from a year earlier and +20% from the quarter before. Operating margin was 64.4%, net earnings $127M (50.3% of revenue).
Royal Gold, Q3 2025: revenue $252M (+30% year over year), operating margin 64.4%, net earnings $127M, operating cash flow $174M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $252M | +20% | +30% |
| Gross profit | $185M | +22% | +44% |
| Operating profit | $162M | +14% | +37% |
| Net earnings | $127M | -4% | +32% |
| Operating cash flow | $174M | +14% | +27% |
What changed
Revenue was $252.1M in Q3 2025, up 30% year over year and up 20% from the previous quarter. Stream interest was the largest line at 66% of revenue. Stream interest added $33.0M year over year (up 25%), 57% of the total change.
Gross margin was 73.6%, up 7.0 points from a year earlier. Operating profit was $162.3M, a 64.4% margin (up 3.1 points year over year). Of the extra revenue versus a year earlier, 75% reached operating profit, above the 61% margin then. Operating expenses grew 127% against revenue growth of 30%. The fastest-growing cost line was Other operating costs (+14877%). Net earnings were $126.8M, up 32% year over year. The effective tax rate was 17.9%.
Operating cash flow was $174.0M (up 27% year over year), 132% of net income including minority interests. Non-cash charges added back $32.9M of depreciation and amortization and $2.9M of share-based compensation.
Questions
What was Royal Gold's revenue in the third quarter 2025?
Royal Gold (RGLD) reported revenue of $252M for the third quarter 2025 (Q3 2025), +30% from a year earlier and +20% from the quarter before.
Was Royal Gold profitable in the third quarter 2025?
Operating profit was $162M (64.4% of revenue) and net earnings $127M.
Source: Royal Gold 10-Q on SEC EDGAR.