Stock fact sheet · data as of
Royal Gold, Inc. (RGLD): fair value, margin of safety and Wheel Score
Basic Materials · Gold · United States · High Growth
Is RGLD undervalued?
Royal Gold, Inc. (RGLD) closed at 224.84 on 16 Oct 2026, 50% above the GLS average fair value of 149.52. 8 of the 9 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
There is a wide gap between Payback Time (0.2732) and GLS Growth (532.87). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files RGLD under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for RGLD
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 141.37 | -37% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 132.39 | -41% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 223.99 | -0% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 77.55 | -66% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 532.87 | +137% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 112.57 | -50% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 0.2732 | -100% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 27.96 | -88% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 96.71 | -57% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -23.03 | -110% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 301.50 | +34% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Royal Gold, Inc. scores only 4 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. On durability RGLD scores 5.9/10 on the GLS Moat - a middle reading; the Scorecard on the Quote page's Financials tab shows which ten-year lines are steady and which are not.
Returns on capital are moderate - ROIC 5.7%, ROE 6.5%, ROA 4.9% - with debt at 0.13 times equity and a free-cash-flow yield of 0.0%.
The dividend yield is 0.85% with a payout ratio of 19% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Stream Interests 69%, Royalty Interests 31% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 4 / 9 | ROIC | 5.7% |
|---|---|---|---|
| GLS Moat | 5.9 / 10 | ROE | 6.5% |
| Debt / equity | 0.13 | ROA | 4.9% |
| Free-cash-flow yield | 0.0% | Payout ratio | 19% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 55: Fair
A Wheel Score of 55 puts Royal Gold, Inc. in the Fair band - below the 70 the Sunday Scan requires. Value 0/25, Health 9/20, Moat 9/15, Premium 20/20 and Stability 17/20; the weakest part is Value (0/25).
Implied volatility is 43% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 28,553 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 713k shares a day on a market cap of $19.1B, with a beta of 0.50 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 17 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -50% margin of safety | |
| Health | 9 / 20 | Piotroski 4/9 | |
| Moat | 9 / 15 | moat 5.9/10 | |
| Premium | 20 / 20 | implied volatility 43% | |
| Stability | 17 / 20 | 713k shares/day, $19.1B cap, beta 0.50 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 4 Nov 2026 (after the close), 19 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Gold
The 12 companies below are the closest to Royal Gold, Inc. by market cap within the Gold industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| PAAS Pan American Silver Corp. | 42.33 | 64.03 | +34% | 85Prime | $17.6B |
| CDE Coeur Mining, Inc. | 15.41 | 20.99 | +27% | 81Prime | $15.9B |
| AGI Alamos Gold Inc. | 31.98 | 61.68 | +48% | 92Prime | $13.4B |
| EQX Equinox Gold Corp. | 11.11 | 19.83 | +44% | 82Prime | $13.0B |
| KGC Kinross Gold Corporation | 23.85 | 52.29 | +54% | 96Prime | $28.3B |
| GFI Gold Fields Limited | 37.09 | 102.76 | +64% | 96Prime | $33.0B |
| HMY Harmony Gold Mining Company Limited | 16.98 | 202.12 | +92% | 95Prime | $10.6B |
| IAG Iamgold Corporation | 17.76 | 54.47 | +67% | 87Prime | $10.1B |
| EGO Eldorado Gold Corporation | 36.23 | 60.20 | +40% | 84Prime | $9.4B |
| AU AngloGold Ashanti Plc | 91.57 | 173.18 | +47% | 92Prime | $46.3B |
| FNV Franco-Nevada Corporation | 240.88 | 97.29 | -148% | 61Fair | $46.5B |
| AUGO Aura Minerals | 85.47 | 72.88 | -17% | 62Fair | $7.2B |
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Start free See the Sunday ScanQuestions about RGLD
Is RGLD undervalued right now?
No: at 224.84 the stock trades 50% above the GLS average fair value of 149.52 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of RGLD and what does it mean?
RGLD scores 55 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for RGLD?
149.52 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Royal Gold, Inc. report earnings next?
The next earnings report is due on 4 Nov 2026 (after the close), 19 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does RGLD have listed options, and how liquid are they?
Yes. The nightly snapshot found 654 listed contracts with 28,553 open interest across all expiries and implied volatility of 43% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.