RGLD Royal Gold, Inc. - Common Stock
$245.17
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$167–$306
56% of range
Analyst Rating
BUY
21 analysts
Price Target
$303
+23% upside
P/E (TTM)
36.6
ROE
9.1%
Net Profit Margin
45.2%
About Royal Gold, Inc. - Common Stock Company overview from Wikipedia
Royal Gold is a precious metal streaming management company. The company, headquartered in Denver, Colorado, was founded in 1981 by H. Stanley Dempsey.
Read more
Royal Gold is a precious metal streaming management company. The company, headquartered in Denver, Colorado, was founded in 1981 by H. Stanley Dempsey.
History
In the 1980s, the company was named Royal Resources, Inc., and was an oil-exploration company. In 1986, H. Stanley Dempsey, a board member of the public company, transformed the company into a gold mining company and renamed the company Royal Gold, Inc. Dempsey served as Royal Gold's chief executive officer through 2006, as its executive chairman through 2008, and its non-executive chairman through 2014. Dempsey was inducted into the National Mining Hall of Fame in 2016.
2010 was the year the company experienced the most growth with over a billion of the $1.86 billion in assets it has (September 2010) added during the year.
February 2010 completed the acquisition of another royalty company, IRC which has claims in Chile (Pascua Lama) and Canada (Voisey's Bay). International Royalty Company was quick to accept the $702 million deal from Royal Gold after Franco-Nevada attempted a hostile $640 million takeover.
By the end of the 2020 fiscal year, the company owns interests on 41 producing mines (June 30, 2020).
Acquisitions
In 2007, the company purchased an interest in the Penasquito mine which did not begin producing until 2010.
In July 2022, Royal Gold acquired Great Bear Royalties for $153 million.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
RGLD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$245.17
Market Cap
$20.72B
P/E (TTM)
36.6
EPS (TTM)
$6.69
Revenue (TTM)
$1.03B
Div Yield
0.57%
ROE
9.1%
Debt/Equity
0.1
52W Range
$167 – $306
RGLD Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.03B
2017-06-30
→
2025-12-31
EPS
$6.69
2017-06-30
→
2025-12-31
Free Cash Flow
—
Margins
45.2%
2019-06-30
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
RGLD
Peer Median
P/E (TTM)
36.6
22.7
P/S (TTM)
20.1
4.7
P/B
2.9
3.3
EV / EBITDA
26.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
RGLD
Peer Median
Gross Margin
69.3%
60.0%
Operating Margin
61.9%
—
Net Profit Margin
45.2%
31.1%
ROA
7.2%
9.4%
ROE
9.1%
16.3%
ROIC
6.5%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
RGLD
Peer Median
Debt / Equity
0.1
—
Current Ratio
3.1
3.5
Quick Ratio
1.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
RGLD
Peer Median
Revenue YoY
43.2%
—
Revenue CAGR 3Y
19.5%
—
EPS YoY
32.7%
—
Net Income YoY
40.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
RGLD
Peer Median
Payout Ratio
25.4%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.57%
Payout Ratio
25.4%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| July 2, 2026 | $0.4750 |
| April 2, 2026 | $0.4750 |
| Jan. 2, 2026 | $0.4750 |
| Oct. 3, 2025 | $0.4500 |
| July 3, 2025 | $0.4500 |
| April 4, 2025 | $0.4500 |
| Jan. 3, 2025 | $0.4500 |
| Oct. 4, 2024 | $0.4000 |
| July 5, 2024 | $0.4000 |
| April 4, 2024 | $0.4000 |
| Jan. 4, 2024 | $0.4000 |
| Oct. 5, 2023 | $0.3750 |
| July 6, 2023 | $0.3750 |
| April 5, 2023 | $0.3750 |
| Jan. 5, 2023 | $0.3750 |
| Oct. 6, 2022 | $0.3500 |
| June 30, 2022 | $0.3500 |
| March 31, 2022 | $0.3500 |
| Jan. 6, 2022 | $0.3500 |
| Sept. 30, 2021 | $0.3000 |
RGLD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
21 analysts
- Strong Buy 5 23.8%
- Buy 12 57.1%
- Hold 3 14.3%
- Sell 1 4.8%
- Strong Sell 0 0.0%
12-Month Price Target
12 analysts · 2026-08-13
Median
$307.50
Now
$245.17
Low
$218.00
High
$350.00
Median target
$307.50
+25.4%
Mean target
$302.67
+23.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.07%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $2.56 | $2.65 | -0.09% |
| March 31, 2026 | $2.72 | $2.99 | -0.27% |
| Dec. 31, 2025 | $1.92 | $2.54 | -0.62% |
| Sept. 30, 2025 | $2.06 | $1.70 | 0.36% |
| June 30, 2025 | $1.81 | $1.72 | 0.09% |
| March 31, 2025 | $1.51 | $1.40 | 0.11% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RGLD | $18.78B | 33.2 | 43.2% | 45.2% | 9.1% | 69.3% |
| NEM | $108.74B | 15.6 | 21.3% | 31.2% | 22.2% | — |
| AU | — | — | — | — | — | — |
| CDE | $11.45B | 18.8 | 96.4% | 28.3% | 19.1% | — |
| SSRM | $4.45B | 11.8 | 63.7% | 24.3% | 12.0% | — |
| AUGO | — | — | — | — | — | — |
| HYMC | $1.97B | -25.3 | — | — | -41.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.03B | $719M | $606M | $603M | $654M | $499M | $423M | $459M | $441M | $289M | $245M | |
| Gross Profit | $714M | $471M | $343M | $323M | · | $236M | $179M | $209M | $192M | $289M | $245M | |
| SG&A Expense | $49M | $41M | $40M | $35M | $29M | $30M | $30M | $35M | $33M | $32M | $25M | |
| Operating Expenses | $392M | $289M | $303M | $319M | $325M | $300M | $282M | $534M | $295M | $355M | $191M | |
| Operating Income | $638M | $430M | $303M | $284M | $328M | $199M | $141M | $-75M | $146M | $5M | $87M | |
| Pretax Income | $574M | $426M | $282M | $273M | $328M | $193M | $107M | $-105M | $119M | $-22M | $62M | |
| Income Tax | $102M | $94M | $42M | $33M | $53M | $-4M | $17M | $15M | $26M | $61M | $10M | |
| Net Income | $466M | $332M | $239M | $239M | $274M | $199M | $94M | $-113M | $102M | $-77M | $52M | |
| EPS (Basic) | $6.70 | $5.04 | $3.64 | $3.64 | $4.17 | $3.04 | $1.43 | $-1.73 | $1.55 | $-1.18 | $0.80 | |
| EPS (Diluted) | $6.69 | $5.04 | $3.63 | $3.63 | $4.17 | $3.03 | $1.43 | $-1.73 | $1.55 | $-1.18 | $0.80 | |
| Shares (Basic) | 69,424,381 | 65,662,185 | 65,613,002 | 65,576,995 | 65,552,586 | 65,523,024 | 65,394,627 | 65,291,855 | 65,152,782 | 65,074,455 | 65,007,861 | |
| Shares (Diluted) | 69,560,911 | 65,776,834 | 65,739,110 | 65,661,748 | 65,624,007 | 65,643,390 | 65,505,535 | 65,291,855 | 65,277,953 | 65,074,455 | 65,125,173 | |
| EBITDA | $815M | $574M | · | $463M | · | $374M | $304M | $89M | $306M | $146M | $181M |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $234M | $195M | $104M | $119M | $144M | $319M | $119M | $89M | $86M | $117M | $743M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | $6M | |
| Prepaid Expense | $5M | $2M | $2M | $2M | $2M | $1M | $389.0K | $1M | $822.0K | $614.0K | $2M | |
| Current Assets | $377M | $275M | $167M | $186M | $216M | $362M | $155M | $126M | $144M | $168M | $797M | |
| Other Non-current Assets | $102M | $74M | $118M | $111M | $97M | $85M | $50M | $55M | $58M | $54M | $37M | |
| Total Assets | $9.54B | $3.39B | $3.36B | $3.53B | $2.76B | $2.77B | $2.54B | $2.68B | $3.09B | $3.07B | $2.92B | |
| Accounts Payable | $10M | $11M | $11M | $7M | $6M | $2M | $3M | $9M | $4M | $4M | $5M | |
| Current Liabilities | $121M | $85M | $72M | $64M | $61M | $44M | $34M | $51M | $34M | $26M | $25M | |
| Capital Leases | $33M | $4M | $5M | $6M | · | $8M | · | · | · | · | · | |
| Deferred Tax | $1.19B | $132M | $134M | $138M | $88M | $86M | $89M | $91M | $121M | $134M | $147M | |
| Other Non-current Liabilities | $56M | $18M | $8M | $8M | $7M | $8M | · | $14M | $6M | $6M | $689.0K | |
| Total Liabilities | $2.33B | $261M | $460M | $781M | $156M | $464M | $374M | $541M | $774M | $784M | $501M | |
| Long-term Debt | · | · | $246M | · | · | · | · | · | · | · | · | |
| Total Debt | $895M | $0 | · | $572M | · | $300M | $215M | $351M | $586M | $601M | $322M | |
| Common Stock | $845.0K | $657.0K | $656.0K | $656.0K | $656.0K | $655.0K | $655.0K | $654.0K | $652.0K | $651.0K | $650.0K | |
| Paid-in Capital | $5.93B | $2.23B | $2.22B | $2.21B | $2.21B | $2.21B | $2.20B | $2.19B | $2.19B | $2.18B | $2.17B | |
| Retained Earnings | $1.23B | $890M | $667M | $527M | $382M | $61M | $-66M | $-90M | $88M | $49M | $185M | |
| AOCI | $993.0K | $0 | · | · | · | · | · | $-1M | $879.0K | · | · | |
| Stockholders' Equity | $7.16B | $3.12B | $2.89B | $2.74B | $2.59B | $2.27B | $2.14B | $2.10B | $2.28B | $2.23B | $2.35B | |
| Liabilities + Equity | $9.54B | $3.39B | $3.36B | $3.53B | $2.76B | $2.77B | $2.54B | $2.68B | $3.09B | $3.07B | $2.92B | |
| Shares Outstanding | 84,499,692 | 65,691,151 | 65,631,760 | 65,592,597 | 65,564,364 | 65,531,288 | 65,440,492 | 65,360,041 | 65,179,527 | 65,093,950 | 65,033,547 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $177M | $144M | $165M | $179M | $189M | $175M | $163M | $164M | $160M | $141M | $93M | |
| Stock-based Comp | $12M | $12M | $10M | $8M | $6M | $9M | $7M | $8M | $10M | $10M | $5M | |
| Deferred Tax | $-4M | $8M | $-6M | $-20M | $11M | $-32M | $-2M | $-33M | $2M | $-5M | $-28M | |
| Other Non-cash | $54M | $33M | · | $11M | · | $-11M | $-9M | $303M | $-7M | $106M | $68M | |
| Operating Cash Flow | $705M | $530M | $416M | $417M | $462M | $341M | $253M | $329M | $267M | $169M | $192M | |
| Investing Cash Flow | $-1.42B | $-78M | $-3M | $-923M | $-417M | $-153M | $-6M | $-11M | $-200M | $-1.01B | $-51M | |
| Net Debt Issued | $-375M | $-250M | · | $-125M | · | $-115M | $-370M | · | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | $775.0K | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | $775.0K | |
| Dividends Paid | $119M | $105M | $99M | $92M | $79M | $71M | $67M | $64M | $61M | $59M | $56M | |
| Financing Cash Flow | $752M | $-360M | $-427M | $481M | $-283M | $12M | $-217M | $-315M | $-98M | $214M | $-58M | |
| Net Change in Cash | $38M | $91M | $-14M | $-25M | $-238M | $200M | $31M | $3M | $-31M | $-626M | $83M | |
| Taxes Paid | $95M | $72M | $50M | $55M | · | $32M | $44M | $-3M | $27M | $76M | $20M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.3% | 65.5% | · | 53.6% | · | 47.3% | 42.2% | · | · | · | · | |
| Operating Margin | 61.9% | 59.8% | · | 47.0% | · | 39.9% | 33.3% | · | · | 1.7% | 35.7% | |
| Net Margin | 45.2% | 46.2% | · | 39.6% | · | 40.0% | 22.2% | · | · | -28.5% | 21.5% | |
| Pretax Margin | 55.7% | 59.2% | · | 45.2% | · | 38.6% | 25.2% | · | · | -7.5% | 25.4% | |
| EBITDA Margin | 79.1% | 79.8% | · | 76.7% | · | 75.0% | 71.8% | · | · | 50.5% | 73.9% | |
| ROA | 7.2% | 9.8% | · | 7.6% | · | 7.5% | 3.6% | -3.9% | 3.3% | -2.8% | 1.8% | |
| ROE | 9.1% | 11.1% | · | 9.0% | · | 9.0% | 4.4% | -5.2% | 4.5% | -3.6% | 2.2% | |
| ROIC | 6.5% | 10.8% | · | 7.5% | · | 7.9% | 5.0% | -3.5% | 4.0% | 0.64% | 2.8% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.1 | 3.2 | · | 2.9 | · | 8.3 | 4.6 | 2.4 | 4.5 | 7.3 | 31.7 | |
| Quick Ratio | 1.9 | 2.3 | · | 1.9 | · | 7.3 | 3.6 | 1.7 | 2.8 | 5.1 | 29.7 | |
| Debt / Equity | 0.1 | 0.0 | · | 0.2 | · | 0.1 | 0.1 | 0.2 | 0.3 | 0.3 | 0.1 | |
| LT Debt / Equity | 0.1 | 0.0 | · | 0.2 | · | 0.1 | 0.1 | 0.2 | 0.3 | 0.3 | 0.1 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | · | 0.2 | 0.2 | · | · | 0.1 | 0.1 |
Growth Rates 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 43.2% | 18.8% | 0.42% | -7.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 19.5% | 3.2% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 32.7% | 38.8% | 0.00% | -13.0% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 22.6% | 6.5% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 40.4% | 38.7% | 0.19% | -12.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 25.0% | 6.6% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.03B | $719M | $606M | $603M | · | $499M | $423M | $459M | $441M | $289M | $245M | |
| Net Income TTM | $466M | $332M | $239M | $239M | · | $199M | $94M | $-113M | $102M | $-77M | $52M | |
| Market Cap | $18.78B | $8.66B | · | $7.39B | · | $8.15B | $6.71B | $6.07B | $5.10B | $4.69B | $4.01B | |
| Enterprise Value | $19.45B | $8.47B | · | $7.85B | · | $8.13B | $6.80B | $6.33B | $5.60B | $5.17B | $3.58B | |
| P/E | 33.2 | 26.2 | 33.3 | 31.1 | · | 41.0 | 71.7 | -53.7 | 50.4 | -61.0 | 77.0 | |
| P/S | 18.2 | 12.0 | · | 12.3 | · | 16.3 | 15.9 | 13.2 | 11.6 | 16.2 | 16.4 | |
| P/B | 2.6 | 2.8 | · | 2.7 | · | 3.6 | 3.1 | 2.9 | 2.2 | 2.1 | 1.7 | |
| P / Tangible Book | 2.6 | 2.8 | 2.7 | 2.7 | · | 3.6 | · | · | · | · | · | |
| P / Cash Flow | 26.6 | 16.4 | · | 17.7 | · | 23.9 | 26.5 | 18.5 | 19.2 | 27.6 | 20.9 | |
| EV / EBITDA | 23.9 | 14.7 | · | 17.0 | · | 21.7 | 22.4 | 71.0 | 18.3 | 35.4 | 19.8 | |
| EV / Revenue | 18.9 | 11.8 | · | 13.0 | · | 16.3 | 16.1 | 13.8 | 12.7 | 17.9 | 14.7 | |
| Dividend Yield | 0.63% | 1.2% | · | 1.2% | · | 0.88% | 1.0% | 1.1% | 1.2% | 1.2% | 1.4% | |
| Earnings Yield | 3.0% | 3.8% | 3.0% | 3.2% | · | 2.4% | 1.4% | -1.9% | 2.0% | -1.6% | 1.3% | |
| Payout Ratio | 25.4% | 31.7% | · | 38.5% | · | 35.9% | 71.9% | -56.7% | 60.5% | -71.2% | 106.4% | |
| Annual Payout | $119M | $105M | $99M | $92M | · | $71M | $67M | $64M | $61M | $59M | $56M |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $451M | $469M | $375M | $252M | $210M | $193M | $203M | $194M | $174M | $149M | $153M | $139M | $144M | $170M | $163M | $131M | |
| Gross Profit | $291M | $315M | $242M | $185M | $152M | $134M | $142M | $129M | $113M | $87M | $90M | $76M | $81M | $97M | $87M | $69M | |
| SG&A Expense | $13M | $18M | $18M | $10M | $10M | $11M | $9M | $10M | $11M | $11M | $10M | $10M | $9M | $11M | $9M | $8M | |
| Operating Expenses | $173M | $172M | $164M | $90M | $68M | $70M | $69M | $75M | $72M | $73M | $73M | $73M | $72M | $84M | $90M | $70M | |
| Operating Income | $280M | $297M | $211M | $162M | $142M | $123M | $133M | $119M | $102M | $76M | $80M | $66M | $72M | $86M | $73M | $62M | |
| Pretax Income | $296M | $307M | $146M | $161M | $143M | $124M | $134M | $118M | $100M | $74M | $76M | $60M | $66M | $80M | $69M | $57M | |
| Income Tax | $58M | $25M | $53M | $29M | $11M | $10M | $26M | $22M | $19M | $27M | $13M | $11M | $2M | $16M | $13M | $11M | |
| Net Income | $236M | $281M | $94M | $127M | $132M | $113M | $107M | $96M | $81M | $47M | $63M | $49M | $63M | $64M | $56M | $46M | |
| EPS (Basic) | $2.78 | $3.31 | $1.05 | $1.92 | $2.01 | $1.72 | $1.63 | $1.46 | $1.23 | $0.72 | $0.95 | $0.75 | $0.97 | $0.97 | $0.86 | $0.70 | |
| EPS (Diluted) | $2.78 | $3.30 | $1.04 | $1.92 | $2.01 | $1.72 | $1.63 | $1.46 | $1.23 | $0.72 | $0.94 | $0.75 | $0.97 | $0.97 | $0.85 | $0.70 | |
| Shares (Basic) | 84,781,861 | 84,720,260 | -127,791,082 | 65,761,896 | 65,748,410 | 65,705,157 | -131,296,425 | 65,670,381 | 65,650,801 | 65,637,428 | -131,206,772 | 65,619,406 | 65,605,391 | 65,594,977 | -131,137,764 | 65,579,834 | |
| Shares (Diluted) | 85,052,094 | 85,017,635 | -127,882,511 | 65,831,341 | 65,820,530 | 65,791,551 | -131,525,978 | 65,795,014 | 65,767,538 | 65,740,260 | -131,489,964 | 65,757,076 | 65,762,903 | 65,709,095 | -131,321,392 | 65,660,152 | |
| EBITDA | $376M | $388M | · | $195M | $173M | $156M | · | $155M | $138M | $114M | · | $106M | $110M | $132M | · | $100M |
Balance Sheet 20
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $182M | $234M | $234M | $173M | $248M | $241M | $195M | $128M | $74M | $138M | · | $103M | $106M | $127M | · | $122M | |
| Prepaid Expense | $6M | $4M | $5M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Current Assets | $370M | $412M | $377M | $287M | $342M | $316M | $275M | $202M | $133M | $193M | · | $164M | $165M | $189M | · | $182M | |
| Other Non-current Assets | $118M | $127M | $102M | $75M | $89M | $82M | $74M | $78M | $82M | $82M | · | $118M | $119M | $110M | · | $111M | |
| Total Assets | $9.45B | $9.49B | $9.54B | $4.47B | $3.57B | $3.46B | $3.39B | $3.30B | $3.27B | $3.31B | · | $3.40B | $3.44B | $3.49B | · | $3.38B | |
| Accounts Payable | $5M | $7M | $10M | $6M | $6M | $2M | $11M | $13M | $13M | $12M | · | $9M | $9M | $8M | · | $7M | |
| Current Liabilities | $127M | $117M | $121M | $100M | $76M | $67M | $85M | $86M | $122M | $77M | · | $71M | $63M | $55M | · | $64M | |
| Capital Leases | · | · | $33M | · | · | · | $4M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | $1.16B | $1.19B | $1.19B | $131M | $132M | $132M | $132M | $133M | $133M | $134M | · | $136M | $136M | $137M | · | $140M | |
| Other Non-current Liabilities | $59M | $58M | $56M | $23M | $21M | $20M | $18M | $7M | $7M | $8M | · | $8M | $9M | $8M | · | $6M | |
| Total Liabilities | $1.82B | $2.03B | $2.33B | $1.05B | $253M | $243M | $261M | $251M | $288M | $390M | · | $535M | $604M | $696M | · | $657M | |
| Long-term Debt | · | · | · | · | · | · | · | $0 | $50M | · | · | · | · | · | · | · | |
| Total Debt | $396M | $596M | · | $770M | · | · | · | $0 | $50M | $146M | · | $321M | $396M | $497M | · | $446M | |
| Common Stock | $844.0K | $846.0K | $845.0K | $658.0K | $658.0K | $657.0K | $657.0K | $657.0K | $656.0K | $656.0K | · | $656.0K | $656.0K | $656.0K | · | $656.0K | |
| Paid-in Capital | $5.92B | $5.95B | $5.93B | $2.23B | $2.23B | $2.23B | $2.23B | $2.23B | $2.23B | $2.22B | · | $2.22B | $2.22B | $2.22B | · | $2.21B | |
| Retained Earnings | $1.66B | $1.47B | $1.23B | $1.17B | $1.08B | $974M | $890M | $812M | $742M | $687M | · | $630M | $605M | $567M | · | $496M | |
| AOCI | $0 | $0 | $993.0K | · | · | · | $0 | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $7.59B | $7.42B | $7.16B | $3.41B | $3.31B | $3.20B | $3.12B | $3.04B | $2.97B | $2.91B | · | $2.85B | $2.82B | $2.78B | · | $2.71B | |
| Liabilities + Equity | $9.45B | $9.49B | $9.54B | $4.47B | $3.57B | $3.46B | $3.39B | $3.30B | $3.27B | $3.31B | · | $3.40B | $3.44B | $3.49B | · | $3.38B | |
| Shares Outstanding | 84,673,027 | 84,787,272 | 84,499,692 | 65,763,800 | 65,760,321 | 65,735,304 | 65,691,151 | 65,689,357 | 65,656,625 | 65,648,831 | · | 65,631,760 | 65,609,736 | 65,599,348 | · | 65,592,597 |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $96M | $91M | $80M | $33M | $31M | $33M | $34M | $36M | $36M | $39M | $40M | $40M | $38M | $46M | $49M | $38M | |
| Stock-based Comp | $3M | $4M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $3M | $2M | $3M | $2M | $2M | |
| Deferred Tax | $18M | $-28M | $4M | $3M | $-2M | $-9M | $3M | $1M | $3M | $648.0K | $-458.0K | $1M | $-8M | $1M | $-2M | $10M | |
| Other Non-cash | · | $-54M | · | · | · | $-4M | · | · | · | $49M | · | · | · | $-5M | · | · | |
| Operating Cash Flow | $335M | $294M | $242M | $174M | $153M | $136M | $141M | $137M | $114M | $138M | $101M | $98M | $108M | $109M | $101M | $95M | |
| Investing Cash Flow | $-117M | $34M | $-262M | $-986M | $-113M | $-58M | $-47M | $-3M | $-51M | $24M | $-2.0K | $-6.0K | $-3M | $-197.0K | $-206M | $-679M | |
| Net Debt Issued | · | $-300M | · | · | · | $0 | · | · | · | $-100M | · | · | · | $-75M | · | · | |
| Stock Repurchased | $30M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-30M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $40M | $40M | $30M | $30M | $30M | $30M | $26M | $26M | $26M | $26M | $25M | $25M | $25M | $25M | $23M | $23M | |
| Financing Cash Flow | $-270M | $-327M | $81M | $737M | $-33M | $-33M | $-27M | $-80M | $-126M | $-128M | $-100M | $-101M | $-126M | $-100M | $102M | $425M | |
| Net Change in Cash | $-52M | $423.0K | $61M | $-75M | $7M | $45M | $68M | $54M | $-64M | $34M | $1M | $-3M | $-21M | $8M | $-4M | $-158M |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.6% | 67.1% | · | 73.6% | 72.6% | 69.4% | · | 66.6% | 64.7% | 58.4% | · | 54.5% | 56.3% | 57.0% | · | 52.8% | |
| Operating Margin | 62.1% | 63.3% | · | 64.4% | 67.7% | 63.6% | · | 61.3% | 58.6% | 50.7% | · | 47.3% | 49.9% | 50.5% | · | 47.0% | |
| Net Margin | 52.5% | 59.9% | · | 50.3% | 63.1% | 58.7% | · | 49.6% | 46.7% | 31.7% | · | 35.6% | 44.0% | 37.5% | · | 34.8% | |
| Pretax Margin | 65.6% | 65.5% | · | 63.7% | 68.2% | 64.1% | · | 60.8% | 57.6% | 49.9% | · | 43.5% | 45.6% | 46.9% | · | 43.3% | |
| EBITDA Margin | 83.5% | 82.7% | · | 77.5% | 82.5% | 80.7% | · | 80.0% | 79.2% | 76.8% | · | 76.2% | 76.6% | 77.7% | · | 75.7% | |
| ROA | 3.6% | 4.3% | · | 3.3% | 3.9% | 3.4% | · | 2.9% | 2.4% | 1.4% | · | 1.5% | 2.0% | 2.0% | · | 1.5% | |
| ROE | 4.3% | 5.3% | · | 3.9% | 4.2% | 3.7% | · | 3.3% | 2.8% | 1.7% | · | 1.8% | 2.3% | 2.4% | · | 1.8% | |
| ROIC | 2.8% | 3.4% | · | 3.2% | 4.0% | 3.5% | · | 3.2% | 2.7% | 1.6% | · | 1.7% | 2.2% | 2.1% | · | 1.6% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.9 | 3.5 | · | 2.9 | 4.5 | 4.7 | · | 2.3 | 1.1 | 2.5 | · | 2.3 | 2.6 | 3.4 | · | 2.8 | |
| Quick Ratio | 1.4 | 2.0 | · | 1.7 | 3.3 | 3.6 | · | 1.5 | 0.6 | 1.8 | · | 1.5 | 1.7 | 2.3 | · | 1.9 | |
| Debt / Equity | 0.1 | 0.1 | · | 0.2 | · | · | · | 0.0 | 0.0 | 0.1 | · | 0.1 | 0.1 | 0.2 | · | 0.2 | |
| LT Debt / Equity | 0.1 | 0.1 | · | 0.2 | · | · | · | 0.0 | 0.0 | 0.1 | · | 0.1 | 0.1 | 0.2 | · | 0.2 |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.0 | · | 0.0 | 0.0 | 0.1 | · | 0.0 |
Valuation (TTM) 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.38B | $1.12B | · | $849M | $771M | $710M | · | $655M | $606M | $602M | · | $584M | $592M | $611M | · | $615M | |
| Net Income TTM | $777M | $654M | · | $469M | $423M | $338M | · | $274M | $241M | $224M | · | $222M | $244M | $246M | · | $253M | |
| Market Cap | $16.90B | $21.58B | · | $13.19B | $11.69B | $10.75B | · | $9.22B | $8.22B | $8.00B | · | $6.98B | $7.53B | $8.51B | · | $6.15B | |
| Enterprise Value | $17.12B | $21.94B | · | $13.79B | · | · | · | $9.09B | $8.19B | $8.00B | · | $7.20B | $7.82B | $8.88B | · | $6.48B | |
| P/E | 19.9 | 28.4 | · | 28.2 | 27.7 | 31.9 | · | 33.7 | 34.1 | 35.7 | · | 31.4 | 30.9 | 34.6 | · | 24.4 | |
| P/S | 12.2 | 19.2 | · | 15.5 | 15.2 | 15.1 | · | 14.1 | 13.6 | 13.3 | · | 11.9 | 12.7 | 13.9 | · | 10.0 | |
| P/B | 2.2 | 2.9 | · | 3.9 | 3.5 | 3.4 | · | 3.0 | 2.8 | 2.7 | · | 2.4 | 2.7 | 3.1 | · | 2.3 | |
| P / Tangible Book | 2.2 | 2.9 | · | 3.9 | 3.5 | 3.4 | · | 3.0 | 2.8 | 2.7 | · | 2.4 | 2.7 | 3.1 | · | 2.3 | |
| P / Cash Flow | · | 73.5 | · | · | · | 78.8 | · | · | · | 57.8 | · | · | · | 78.3 | · | · | |
| EV / EBITDA | 45.5 | 56.5 | · | 70.6 | · | · | · | 58.6 | 59.4 | 70.0 | · | 68.1 | 70.9 | 67.1 | · | 65.1 | |
| EV / Revenue | 12.4 | 19.5 | · | 16.2 | · | · | · | 13.9 | 13.5 | 13.3 | · | 12.3 | 13.2 | 14.5 | · | 10.5 | |
| Earnings Yield | 5.0% | 3.5% | · | 3.5% | 3.6% | 3.1% | · | 3.0% | 2.9% | 2.8% | · | 3.2% | 3.2% | 2.9% | · | 4.1% | |
| Payout Ratio | · | 14.3% | · | · | · | 26.1% | · | · | · | 55.7% | · | · | · | 38.6% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.03B | $719M | $606M | $603M | $654M |
| Gross Margin % | 69.3% | 65.5% | — | 53.6% | — |
| Operating Margin % | 61.9% | 59.8% | — | 47.0% | — |
| Net Income | $466M | $332M | $239M | $239M | $274M |
| Diluted EPS | $6.69 | $5.04 | $3.63 | $3.63 | $4.17 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.0 | — | 0.2 | — |
| Current Ratio | 3.1 | 3.2 | — | 2.9 | — |
| Quick Ratio | 1.9 | 2.3 | — | 1.9 | — |
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Institutional owners (13F) 813 filers · $9.8B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 82 (-63 vs prior Q) | 116 (+56 vs prior Q) | 278 (-22 vs prior Q) | 271 (+20 vs prior Q) | +10.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Capital World Investors | $1,860,925,216 | 9,322,778 | 19.00% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $823,512,613 | 4,125,608 | 8.41% | Shares |
| STATE STREET CORP | $779,338,321 | 3,904,305 | 7.96% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $757,997,417 | 3,797,392 | 7.74% | Shares |
| VAN ECK ASSOCIATES CORP | $480,509,576 | 2,407,242 | 4.91% | Shares |
| Capital Research Global Investors | $289,878,233 | 1,452,223 | 2.96% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $282,697,417 | 1,415,863 | 2.89% | Shares |
| NORGES BANK | $281,369,857 | 1,409,598 | 2.87% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $204,977,251 | 1,030,658 | 2.09% | Shares |
| First Eagle Investment Management, LLC | $172,021,103 | 861,786 | 1.76% | Shares |
| Qube Research & Technologies Ltd | $140,778,745 | 705,269 | 1.44% | Shares |
| FMR LLC | $126,578,311 | 634,128 | 1.29% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $125,693,424 | 629,696 | 1.28% | Shares |
| Ninety One UK Ltd | $112,527,726 | 563,738 | 1.15% | Shares |
| Capital International Investors | $112,451,292 | 563,355 | 1.15% | Shares |
| Findlay Park Partners LLP | $111,392,361 | 558,050 | 1.14% | Shares |
| Swedbank AB | $103,608,768 | 519,056 | 1.06% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $103,525,331 | 518,638 | 1.06% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $86,291,403 | 432,300 | 0.88% | Call option |
| MILLENNIUM MANAGEMENT LLC | $79,258,145 | 397,065 | 0.81% | Shares |
| Toroso Investments, LLC | $66,410,524 | 299,396 | 0.68% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $58,032,416 | 290,729 | 0.59% | Shares |
| GOLDMAN SACHS GROUP INC | $55,757,860 | 279,334 | 0.57% | Shares |
| BlackRock, Inc. | $50,912,327 | 255,059 | 0.52% | Shares |
| JANE STREET GROUP, LLC | $50,480,571 | 252,896 | 0.52% | Put option |
| CITADEL ADVISORS LLC | $49,170,730 | 246,334 | 0.50% | Call option |
| Squarepoint Ops LLC | $48,843,769 | 244,696 | 0.50% | Shares |
| FIRST TRUST ADVISORS LP | $47,325,771 | 237,091 | 0.48% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $46,453,239 | 232,720 | 0.47% | Shares |
| D. E. Shaw & Co., Inc. | $46,234,666 | 231,625 | 0.47% | Shares |
| Kopernik Global Investors, LLC | $42,912,757 | 214,983 | 0.44% | Shares |
| RHUMBLINE ADVISERS | $42,634,442 | 213,589 | 0.44% | Shares |
| GABELLI FUNDS LLC | $42,105,733 | 210,940 | 0.43% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $40,920,050 | 205,000 | 0.42% | Put option |
| Verition Fund Management LLC | $40,221,415 | 201,500 | 0.41% | Shares |
| NEUBERGER BERMAN GROUP LLC | $38,087,037 | 190,409 | 0.39% | Shares |
| AMERICAN CENTURY COMPANIES INC | $38,071,016 | 190,727 | 0.39% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $37,117,679 | 185,951 | 0.38% | Shares |
| JANE STREET GROUP, LLC | $35,811,830 | 179,409 | 0.37% | Shares |
| JANE STREET GROUP, LLC | $34,090,593 | 170,786 | 0.35% | Call option |
| Swiss National Bank | $33,985,798 | 170,261 | 0.35% | Shares |
| CITADEL ADVISORS LLC | $32,353,388 | 162,083 | 0.33% | Shares |
| TWO SIGMA INVESTMENTS, LP | $31,191,059 | 156,260 | 0.32% | Shares |
| CITADEL ADVISORS LLC | $30,238,520 | 151,488 | 0.31% | Put option |
| WELLINGTON MANAGEMENT GROUP LLP | $29,768,239 | 149,132 | 0.30% | Shares |
| California Public Employees Retirement System | $29,461,039 | 147,593 | 0.30% | Shares |
| Extract Advisors LLC | $28,410,891 | 142,332 | 0.29% | Shares |
| SPROTT INC. | $27,871,352 | 139,629 | 0.28% | Shares |
| CI INVESTMENTS INC. | $27,707,066 | 138,806 | 0.28% | Shares |
| MACKENZIE FINANCIAL CORP | $27,221,614 | 136,374 | 0.28% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $26,176,057 | 131,136 | 0.27% | Shares |
| ALLIANCEBERNSTEIN L.P. | $25,419,479 | 99,884 | 0.26% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $25,088,388 | 98,583 | 0.26% | Shares |
| RAYMOND JAMES FINANCIAL INC | $23,369,953 | 117,078 | 0.24% | Shares |
| BANK OF MONTREAL /CAN/ | $23,208,854 | 116,271 | 0.24% | Shares |
| Susquehanna Portfolio Strategies, LLC | $23,007,248 | 115,261 | 0.23% | Shares |
| MUHLENKAMP & CO INC | $22,367,635 | 87,892 | 0.23% | Shares |
| BARLOW WEALTH PARTNERS, LLC | $21,745,639 | 113,300 | 0.22% | Shares |
| America First Investment Advisors, LLC | $21,471,797 | 107,569 | 0.22% | Shares |
| ProShare Advisors LLC | $21,361,664 | 107,017 | 0.22% | Shares |
| Bank of New York Mellon Corp | $21,135,904 | 105,886 | 0.22% | Shares |
| BLI - Banque de Luxembourg Investments | $20,358,780 | 100,500 | 0.21% | Shares |
| TUDOR INVESTMENT CORP ET AL | $20,291,355 | 101,655 | 0.21% | Shares |
| ING GROEP NV | $20,065,995 | 100,526 | 0.20% | Shares |
| BANK OF AMERICA CORP /DE/ | $20,058,809 | 100,490 | 0.20% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $19,687,734 | 98,631 | 0.20% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $17,175,043 | 86,043 | 0.18% | Shares |
| Retirement Systems of Alabama | $16,819,937 | 84,264 | 0.17% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $16,618,730 | 83,256 | 0.17% | Shares |
| ROYAL BANK OF CANADA | $16,188,000 | 81,100 | 0.17% | Shares |
| AMERIPRISE FINANCIAL INC | $15,664,595 | 78,476 | 0.16% | Shares |
| WOLVERINE TRADING, LLC | $14,768,400 | 74,400 | 0.15% | Put option |
| WOLVERINE TRADING, LLC | $14,490,500 | 73,000 | 0.15% | Call option |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $13,933,377 | 69,803 | 0.14% | Shares |
| Cubist Systematic Strategies, LLC | $13,900,194 | 69,300 | 0.14% | Call option |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $13,680,870 | 68,538 | 0.14% | Shares |
| Copeland Capital Management, LLC | $13,147,512 | 65,866 | 0.13% | Shares |
| Cannell & Spears LLC | $13,063,077 | 65,443 | 0.13% | Shares |
| UBS Group AG | $12,940,716 | 64,830 | 0.13% | Shares |
| Oxbow Advisors, LLC | $12,792,323 | 64,087 | 0.13% | Shares |
| LPL Financial LLC | $12,413,994 | 62,191 | 0.13% | Shares |
| Distillate Capital Partners LLC | $12,344,082 | 61,841 | 0.13% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $11,737,866 | 58,804 | 0.12% | Shares |
| IMC-Chicago, LLC | $11,698,344 | 58,606 | 0.12% | Shares |
| MEYER HANDELMAN CO | $10,888,326 | 54,548 | 0.11% | Shares |
| ALGERT GLOBAL LLC | $10,790,917 | 54,060 | 0.11% | Shares |
| McAlvany Wealth Management LLC | $10,717,427 | 53,692 | 0.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $10,626,638 | 53,237 | 0.11% | Shares |
| Knoll Capital Management, LLC | $10,529,427 | 52,750 | 0.11% | Shares |
| Groupe la Francaise | $10,274,742 | 40,500 | 0.10% | Shares |
| Capital International, Inc./CA/ | $10,135,996 | 50,779 | 0.10% | Shares |
| Ethic Inc. | $10,086,111 | 50,529 | 0.10% | Shares |
| Legal & General Group Plc | $9,757,934 | 48,885 | 0.10% | Shares |
| Quantinno Capital Management LP | $9,747,220 | 48,831 | 0.10% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $9,732,461 | 38,243 | 0.10% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $9,701,445 | 48,602 | 0.10% | Shares |
| JANUS HENDERSON GROUP PLC | $9,612,835 | 37,767 | 0.10% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $9,390,253 | 47,043 | 0.10% | Shares |
| HORIZON KINETICS ASSET MANAGEMENT LLC | $9,195,573 | 46,068 | 0.09% | Shares |
| TD Asset Management Inc | $9,110,400 | 45,641 | 0.09% | Shares |
Company insiders 34 insiders · 14 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Tony A Jensen | CEO and President | Aug. 28, 2017 S | 163,974 | 0 | 0 | $0 |
| Paul Libner | SVP & CFO | March 3, 2025 F | 21,749 | 0 | 0 | $0 |
| Stefan Wenger | CFO and Director | April 2, 2018 S | 57,520 | 0 | 0 | $0 |
| John Skadow | V.P & CFO | Aug. 19, 2003 M | 10,813 | 0 | 0 | $0 |
| Randy Shefman | SVP & General Counsel | June 16, 2026 S | 8,582 | 0 | 1 | $-107,925 |
| Daniel Breeze | SVP Corp Dev of RGLD Gold AG | March 11, 2025 S | 20,379 | 0 | 0 | $0 |
| Martin Raffield | SVP, Operations | March 3, 2025 F | 10,013 | 0 | 0 | $0 |
| David R Crandall | VP, Corporate Secretary & CCO | March 1, 2025 D | 3,942 | 0 | 0 | $0 |
| Karli S. Anderson | VP Investor Relations | Aug. 28, 2017 M | 20,744 | 0 | 0 | $0 |
| Bruce Christopher Kirchhoff | VP, GC and Secretary | Aug. 28, 2017 S | 43,758 | 0 | 0 | $0 |
| Mark Isto | VP Operations | Aug. 23, 2017 F | 17,528 | 0 | 0 | $0 |
| William M Zisch | VP Operations | Dec. 9, 2014 M | 38,967 | 0 | 0 | $0 |
| Karen Gross | V.P. and Secretary | Dec. 31, 2012 S | 65,087 | 0 | 0 | $0 |
| Donald J Baker | V.P. Corporate Development | June 1, 2006 S | 58,003 | 0 | 0 | $0 |
| Fabiana Chubbs | Director | Feb. 27, 2025 A | — | 0 | 0 | $0 |
| Sybil E Veenman | Director | Feb. 27, 2025 A | 2,015 | 0 | 0 | $0 |
| Jamie C Sokalsky | Director | Feb. 27, 2025 A | 7,270 | 0 | 0 | $0 |
| Ronald J Vance | Director | Feb. 27, 2025 A | 9,228 | 0 | 0 | $0 |
| Kevin C. Mcarthur | Director | Feb. 27, 2025 A | 11,829 | 0 | 0 | $0 |
| William M. Hayes | Director | Feb. 27, 2025 A | 10,302 | 0 | 0 | $0 |
| Christopher M.T. Thompson | Director | Aug. 23, 2017 A | 38,329 | 0 | 0 | $0 |
| Craig M Haase | Director | Aug. 23, 2017 A | 28,054 | 0 | 0 | $0 |
| Gordon Bogden | Director | June 1, 2017 S | 12,339 | 0 | 0 | $0 |
| Oden S Howell JR | Director | Feb. 19, 2014 M | 424,755 | 0 | 0 | $0 |
| James W Stuckert | Director | Aug. 27, 2013 A | 1,156,110 | 0 | 0 | $0 |
| Stanley Dempsey | Director | Aug. 27, 2013 A | 77,513 | 0 | 0 | $0 |
| Donald J Worth | Director | Nov. 30, 2011 M | 29,250 | 0 | 0 | $0 |
| John W Goth | Director | Dec. 30, 2009 M | 48,250 | 0 | 0 | $0 |
| Merritt E Marcus | Director | Dec. 23, 2009 S | 39,338 | 0 | 0 | $0 |
| Edwin W Peiker JR | Director | Aug. 1, 2007 S | 55,380 | 0 | 0 | $0 |
| Pierre Gousseland | Director | Nov. 17, 2004 M | 22,750 | 0 | 0 | $0 |
| ROYAL GOLD INC | 10% owner | March 28, 2007 J | 16,189,834 | 0 | 0 | $0 |
| William Holmes Heissenbuttel | — | March 2, 2026 F | 124,797 | 0 | 0 | $0 |
| Randy L Parcel | — | Feb. 20, 2007 M | 29,975 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Royal Gold, Inc. ×13 filings | Sept. 30, 2020 | — | Initial filing | — | SEC |
| Royal Gold, Inc | March 28, 2007 | — | Initial filing | — | SEC |
| P. Lee Halavais | Feb. 3, 2003 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 122 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| XMMO · Invesco Exchange-Traded Fund Trust | 2.64% | 864,851 SH | Aug. 8, 2026 | Daily |
| FXZ · First Trust Exchange-Traded AlphaDE… | 2.50% | 41,056 NS | April 30, 2026 | N-PORT |
| GDMN · WisdomTree Trust | 2.42% | 22,588 NS | May 31, 2026 | N-PORT |
| PYZ · Invesco Exchange-Traded Fund Trust | 2.16% | 7,336 SH | Aug. 8, 2026 | Daily |
| IYM · iShares Trust | 1.84% | 83,860 SH | Aug. 8, 2026 | Daily |
| REGL · ProShares Trust | 1.39% | 104,180 NS | May 31, 2026 | N-PORT |
| PAMC · Pacer Funds Trust | 1.39% | 3,743 NS | April 30, 2026 | N-PORT |
| FMAT · FIDELITY COVINGTON TRUST | 1.26% | 32,624 NS | April 30, 2026 | N-PORT |
| VAW · VANGUARD WORLD FUND | 1.11% | 248,942 SH | Aug. 8, 2026 | Daily |
| RFG · Invesco Exchange-Traded Fund Trust | 1.02% | 15,971 SH | Aug. 8, 2026 | Daily |
| CZA · Invesco Exchange-Traded Fund Trust | 1.00% | 8,354 SH | Aug. 8, 2026 | Daily |
| IJK · iShares Trust | 0.95% | 476,160 SH | Aug. 8, 2026 | Daily |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 0.94% | 48,405 SH | Aug. 8, 2026 | Daily |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.85% | 80,390 SH | Aug. 8, 2026 | Daily |
| MIDE · DBX ETF Trust | 0.74% | 110 NS | May 29, 2026 | N-PORT |
| LSEQ · Harbor ETF Trust | 0.70% | 459 NS | April 30, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.64% | 12,268 SH | Aug. 8, 2026 | Daily |
| CGMM · Capital Group Equity ETF Trust I | 0.62% | 77,506 NS | May 31, 2026 | N-PORT |
| XJH · iShares Trust | 0.56% | 11,011 SH | Aug. 8, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.56% | 9,336 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.50% | 13,396 NS | April 30, 2026 | N-PORT |
| IJH · iShares Trust | 0.49% | 2,811,086 SH | Aug. 8, 2026 | Daily |
| IGE · iShares Trust | 0.47% | 16,177 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.46% | 1,124,353 SH | Aug. 8, 2026 | Daily |
| SMMV · iShares Trust | 0.46% | 6,083 SH | Aug. 8, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.44% | 131,578 SH | Aug. 8, 2026 | Daily |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.43% | 23,171 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.39% | 2,800 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.38% | 32,654 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.37% | 1,341 NS | April 30, 2026 | N-PORT |
| SMLF · iShares Trust | 0.34% | 67,019 SH | Aug. 8, 2026 | Daily |
| SCHM · SCHWAB STRATEGIC TRUST | 0.34% | 219,088 NS | May 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.33% | 18,380 NS | April 30, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.33% | 6,166 NS | April 30, 2026 | N-PORT |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.32% | 148 NS | May 31, 2026 | N-PORT |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.32% | 2,311 NS | May 31, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.32% | 5,975 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.31% | 41,471 SH | Aug. 8, 2026 | Daily |
| GUNR · FlexShares Trust | 0.31% | 98,316 NS | April 30, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.30% | 30,832 NS | April 30, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.27% | 391 NS | May 31, 2026 | N-PORT |
| SNPD · DBX ETF Trust | 0.27% | 31 NS | May 29, 2026 | N-PORT |
| SMMD · iShares Trust | 0.25% | 42,495 SH | Aug. 8, 2026 | Daily |
| IMCG · iShares Trust | 0.25% | 45,767 SH | Aug. 8, 2026 | Daily |
| SDVD · First Trust Exchange-Traded Fund IV | 0.24% | 8,545 NS | April 30, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.24% | 8,644 SH | Aug. 8, 2026 | Daily |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.23% | 14,481 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.22% | 3,955 NS | May 31, 2026 | N-PORT |
| DEUS · DBX ETF Trust | 0.22% | 2,624 NS | May 29, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.21% | 4,385 NS | April 30, 2026 | N-PORT |