Royal Gold (FRA:RG3) EBIT: €687 Mil (TTM As of Mar. 2026)


FRA:RG3 Royal Gold Inc FRA:RG3
91 GF Score
Price €175.00
GF Value €238.64
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is Royal Gold EBIT?

Royal Gold FRA:RG3 -3.47% 91 EBIT is €687 Mil as of Mar. 2026. GuruFocus rates FRA:RG3 with a GF Score™ of 91/100 and a GF Value™ of €238.64 (Modestly Undervalued). The stock has 2 warning signs investors should review.

Royal Gold's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €277 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €687 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Royal Gold's annualized ROC % for the quarter that ended in Mar. 2026 was 11.93%. Royal Gold's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 14.99%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Royal Gold's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.37%.


Royal Gold  (FRA:RG3) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Royal Gold's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=1027.936 * ( 1 - 8.27% )/( (7874.098 + 7936.804)/ 2 )
=942.9256928/7905.451
=11.93 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=8145.045 - 71.351 - ( 199.596 - max(0, 103.262 - 322.339+199.596))
=7874.098

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=8208.596 - 69.259 - ( 202.533 - max(0, 101.284 - 356.621+202.533))
=7936.804

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Royal Gold's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1108.404/( ( (7330.629 + max(17.68, 0)) + (7386.482 + max(52.709, 0)) )/ 2 )
=1108.404/( ( 7348.309 + 7439.191 )/ 2 )
=1108.404/7393.75
=14.99 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(94.662 + 22.104 + 4.176) - (71.351 + 0 + 31.911)
=17.68

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(123.525 + 26.697 + 3.771) - (69.259 + 0 + 32.025)
=52.709

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Royal Gold's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=686.652/15702.422
=4.37 %

* 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.


Royal Gold EBIT Related Terms


Royal Gold EBIT Historical Data

* Premium members only.

The historical data trend for Royal Gold's EBIT 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.

Royal Gold EBIT Chart

Royal Gold Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 287.23 273.80 287.03 416.23 514.87

Royal Gold Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 115.74 125.33 144.09 140.13 277.10

FRA:RG3 vs CDE, AUGO, SA: EBIT Comparison

For the Gold subindustry, Royal Gold's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Royal Gold's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Royal Gold's EV-to-EBIT falls into.


FRA:RG3
91GF Score
Royal Gold Inc FRA:RG3
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Royal Gold EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €687 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €687 Mil mean?
Royal Gold (FRA:RG3) has a EBIT of €687 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Royal Gold.
Is Royal Gold's EBIT too high?
Royal Gold's current EBIT is €687 Mil. Overall, Royal Gold has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Royal Gold's EBIT compare to CDE and AUGO?
Royal Gold's EBIT of €687 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Metals & Mining company?
A good EBIT depends on the Metals & Mining industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Royal Gold. Royal Gold's current EBIT is €687 Mil. 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 €238.64, compared to a current price of €175.00 — trading 26.7% below its estimated fair value. The current EBIT is €687 Mil. Royal Gold's overall GF Score™ is 91/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Royal Gold (FRA:RG3), the current EBIT is €687 Mil as of Mar. 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 €175.00 is trading 26.7% below its estimated GF Value™ of €238.64. GuruFocus considers Royal Gold to be Modestly Undervalued.

Key valuation signals for FRA:RG3:

  • EBIT: €687 Mil
  • GF Value™: €238.64 vs. price of €175.00 (26.7% below fair value)
  • GF Score™: 91/100 with 2 warning signs

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 Business Description

Address 1144 15th Street, Suite 2500, Denver, CO, USA, 80202
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.
91GF Score

Get the complete analysis for FRA:RG3

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€175.00
Price
€238.64
GF Value