Filing Flows › Royal Gold (RGLD) › How it makes money
How Royal Gold (RGLD) makes money
Royal Gold (RGLD) made $465M of revenue in the third quarter 2026 (Q3 2026), +84% from a year earlier. Stream interest brought in $318M (68%); Royalty revenue brought in $146M (32%). Of every dollar of revenue, 68¢ was left as gross profit, 65¢ was left as operating profit, 49¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Stream interest | $318M | 68.5% | +2% | +92% |
| Royalty revenue | $146M | 31.5% | +5% | +70% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $465M | 100.0% |
| Cost of revenue | $148M | 31.7% |
| Gross profit | $317M | 68.3% |
| Operating expenses | $13.5M | 2.9% |
| Operating profit | $304M | 65.4% |
| Income tax | $57.6M | 12.4% |
| Net earnings | $227M | 48.9% |
| Operating cash flow | $344M | 74.1% |
| Free cash flow | $343M | 73.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $465M | +84% |
| Q2 2026 | $451M | +115% |
| Q1 2026 | $469M | +142% |
| Q4 2025 | $375M | +85% |
| Q3 2025 | $252M | +30% |
| Q2 2025 | $210M | +20% |
| Q1 2025 | $193M | +30% |
From Royal Gold's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Royal Gold make money?
Royal Gold (RGLD) made $465M of revenue in the third quarter 2026 (Q3 2026), +84% from a year earlier. Stream interest brought in $318M (68%); Royalty revenue brought in $146M (32%). Of every dollar of revenue, 68¢ was left as gross profit, 65¢ was left as operating profit, 49¢ was left as net earnings.
What is Royal Gold's biggest business?
Stream interest: $318M in the third quarter 2026, 68% of revenue, +92% from a year earlier.
What is Royal Gold's profit margin?
Net earnings were $227M, 48.9% of revenue, in the third quarter 2026; the operating margin was 65.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.