Filing Flows › Royal Gold (RGLD) › Q3 2026
Royal Gold (RGLD) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Royal Gold (RGLD) reported revenue of $465M for the third quarter 2026 (Q3 2026), +84% from a year earlier and +3% from the quarter before. Operating margin was 65.4%, net earnings $227M (48.9% of revenue).
Royal Gold, Q3 2026: revenue $465M (+84% year over year), operating margin 65.4%, net earnings $227M, operating cash flow $344M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $465M | +3% | +84% |
| Gross profit | $317M | +9% | +71% |
| Operating profit | $304M | +8% | +87% |
| Net earnings | $227M | -4% | +79% |
| Operating cash flow | $344M | +3% | +98% |
| Free cash flow | $343M | — | — |
What changed
Revenue was $464.8M in Q3 2026, up 84% year over year and up 3% from the previous quarter. Stream interest was the largest line at 68% of revenue. Stream interest added $152.3M year over year (up 92%), 72% of the total change.
Gross margin was 68.3%, down 5.3 points from Q3 2025. Operating profit was $303.7M, a 65.4% margin (up 0.9 points year over year). Of the extra revenue versus Q3 2025, 66% reached operating profit, above the 64% margin then. Operating expenses fell 41% while revenue rose 84%. The fastest-growing cost line was General & admin (+30%). Net earnings were $227.4M, up 79% year over year. The effective tax rate was 20.2%.
Operating cash flow was $344.4M (up 98% year over year), 151% of net earnings. Non-cash charges added back $82.0M of depreciation and amortization and $3.3M of share-based compensation. Working capital and other items added $31.0M. After acquisition of stream and royalty interests ($1.0M), free cash flow as the company reports it was $343.4M.
Questions
What was Royal Gold's revenue in the third quarter 2026?
Royal Gold (RGLD) reported revenue of $465M for the third quarter 2026 (Q3 2026), +84% from a year earlier and +3% from the quarter before.
Was Royal Gold profitable in the third quarter 2026?
Operating profit was $304M (65.4% of revenue) and net earnings $227M.
Source: Royal Gold 10-Q on SEC EDGAR.