Filing Flows › Royal Gold (RGLD) › Q3 2026 › vs Q2 2026
Royal Gold (RGLD) Q3 2026 vs Q2 2026 (quarter over quarter)
Royal Gold's revenue rose $14.2M (+3%) from $451M in Q2 2026 to $465M in Q3 2026. The biggest changes: Stream interest +$7.4M (+2%); Royalty revenue +$6.8M (+5%). Gross margin 68.3% against 64.6% (+3.7 pts).
Royal Gold, Q3 2026: revenue $465M (+84% year over year), operating margin 65.4%, net earnings $227M, operating cash flow $344M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 68.3% | 64.6% | +3.7 pts |
| Operating margin | 65.4% | 62.1% | +3.2 pts |
| Net margin | 48.9% | 52.5% | -3.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Stream interest | $318M | $311M | $7.4M | +2% |
| Royalty revenue | $146M | $140M | $6.8M | +5% |
| Revenue | $465M | $451M | $14.2M | +3% |
| Gross profit | $317M | $291M | $26.2M | +9% |
| Cost of revenue | $148M | $159M | −$11.9M | -7% |
| Operating profit | $304M | $280M | $23.8M | +8% |
| Operating expenses | $13.5M | $11.1M | $2.4M | +21% |
| Pre-tax earnings | $286M | $296M | −$10.1M | -3% |
| Other expense, net | $18.0M | −$15.9M | $33.8M | — |
| Net earnings | $227M | $236M | −$9.0M | -4% |
| Minority interests | $676K | $1.2M | −$490K | -42% |
| Income tax | $57.6M | $58.2M | −$592K | -1% |
| Depreciation & amortization | $82.0M | $96.2M | −$14.2M | -15% |
| Share-based compensation | $3.3M | $3.3M | −$10K | -0.3% |
| Working capital & other | $31.7M | −$734K | $32.4M | — |
| Operating cash flow | $344M | $335M | $9.2M | +3% |
Questions
How much did Royal Gold's revenue grow quarter over quarter in Q3 2026?
Royal Gold's revenue rose $14.2M (+3%) from $451M in Q2 2026 to $465M in Q3 2026.
What drove Royal Gold's revenue change in Q3 2026?
Stream interest +$7.4M (+2%); Royalty revenue +$6.8M (+5%).