Royal GoldFRA:RG3 -2.94%95 Cyclically Adjusted PS Ratio is 18.73 as of Jul. 07, 2026, which is 8% above its 10-year median of 17.41. GuruFocus rates FRA:RG3 with a GF Score™ of 95/100 and a GF Value™ of €241.63 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 574 Metals & Mining companies, Royal Gold ranks worse than 92.16% on this metric.
The historical rank and industry rank for Royal Gold's Cyclically Adjusted PS Ratio or its related term are showing as below:
FRA:RG3'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 11.54 Med: 17.41 Max: 29.02
Current: 18.56
During the past years, Royal Gold's highest Cyclically Adjusted PS Ratio was 29.02. The lowest was 11.54. And the median was 17.41.
FRA:RG3's Cyclically Adjusted PS Ratio is ranked worse than 92.16% of 574
companies
in the Metals & Mining industry
Industry Median: 2.25
vs FRA:RG3: 18.56
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
Royal Gold's adjusted revenue per share data for the three months ended in Mar. 2026 was €4.773. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €9.42 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Royal Gold (FRA:RG3) Cyclically Adjusted PS Ratio Explanation
Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.
Royal Gold Cyclically Adjusted PS Ratio Related Terms
Royal Gold Cyclically Adjusted PS Ratio Historical Data
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The historical data trend for Royal Gold's Cyclically Adjusted PS Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:RG3 vs CDE, AUGO, HYMC: Cyclically Adjusted PS Ratio Comparison
For the Gold subindustry, Royal Gold's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Royal Gold Cyclically Adjusted PS Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Royal Gold's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Royal Gold's Cyclically Adjusted PS Ratio falls into.
Royal Gold Cyclically Adjusted PS Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.
Royal Gold's Cyclically Adjusted PS Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PS Ratio of 18.73 mean?
Royal Gold (FRA:RG3) has a Cyclically Adjusted PS Ratio of 18.73 as of Jul. 07, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Royal Gold and its competitors. This is near median its historical median of 17.41. Over the past decade, Royal Gold's Cyclically Adjusted PS Ratio has ranged from 11.54 to 29.02. According to the industry distribution chart, Royal Gold ranks #529 out of 574 companies in the Metals & Mining industry, placing it in the top 92.2%.
Is Royal Gold's Cyclically Adjusted PS Ratio too high?
Royal Gold's current Cyclically Adjusted PS Ratio of 18.73 is near median its 10-year median of 17.41. Over the past 10 years, this metric has ranged from a low of 11.54 to a high of 29.02. The Metals & Mining industry median Cyclically Adjusted PS Ratio is 2.25. Royal Gold's value of 18.73 is 732.4% above this industry median. Based on the distribution chart, Royal Gold ranks #529 out of 574 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Royal Gold has a GF Score™ of 95/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Royal Gold's Cyclically Adjusted PS Ratio compare to CDE and AUGO?
According to the Metals & Mining industry distribution chart, Royal Gold ranks #529 out of 574 companies for Cyclically Adjusted PS Ratio. This places Royal Gold in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 2.25. Royal Gold's value of 18.73 is 732.4% above this benchmark. Historically, Royal Gold's own Cyclically Adjusted PS Ratio has ranged from 11.54 to 29.02 over the past decade. While the company's 10-year median is 17.41 vs. the industry median of 2.25, Royal Gold has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Metals & Mining company?
The median Cyclically Adjusted PS Ratio among Metals & Mining companies is 2.25, based on 574 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Royal Gold's current Cyclically Adjusted PS Ratio of 18.73 is 732.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Royal Gold and its competitors. For the Metals & Mining industry, the median Cyclically Adjusted PS Ratio is 2.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Royal Gold's current Cyclically Adjusted PS Ratio is 18.73, which is near median its own 10-year median of 17.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Royal Gold stock overvalued right now?
Based on GuruFocus' analysis, Royal Gold (FRA:RG3) is currently considered Modestly Undervalued. The stock's GF Value™ is €241.63, compared to a current price of €176.45 — trading 27% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 18.73, which is near median its 10-year median of 17.41 and 732.4% above the Metals & Mining industry median of 2.25. Royal Gold's overall GF Score™ is 95/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Royal Gold (FRA:RG3), the current Cyclically Adjusted PS Ratio is 18.73 as of Jul. 07, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Royal Gold (FRA:RG3) Overvalued in 2026?
Based on GuruFocus' analysis, Royal Gold stock appears to be undervalued.
The current stock price of €176.45 is trading 27% below its estimated GF Value™ of €241.63.
GuruFocus considers Royal Gold to be Modestly Undervalued.
Key valuation signals for FRA:RG3:
Cyclically Adjusted PS Ratio: 18.73 (near median its 10-year median of 17.41)
GF Value™: €241.63 vs. price of €176.45 (27% below fair value)
Industry Position: 732.4% above the Metals & Mining median (#529 of 574)
No single metric tells the full story. See the FRA:RG3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Royal Gold Inc enquires and manages precious metal royalties and streams with a focus on gold. The company purchases a percentage of the metal produced from a mineral property for an initial payment without assuming responsibility for mining operations. Similarly, precious metal streams are purchase agreements with mine operators providing the right to purchase all or a portion of one or more metals produced from a mine in exchange for an upfront deposit payment. Generally, Royal Gold does not work on the properties in which it holds royalty and streaming assets. The company owns a portfolio of producing, development, evaluation, and exploration royalties and streams, and the majority of group revenue is generated from Canada, Mexico, Chile, and the United States.
95GF Score
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