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Royal GoldFRA:RG3 +0.45%92 EV-to-OCF is 20.71 as of Jul. 27, 2026, which is 2% above its 10-year median of 20.24. GuruFocus rates FRA:RG3 with a GF Score™ of 92/100 and a GF Value™ of €245.47 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,664 Metals & Mining companies, Royal Gold ranks worse than 92.64% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Royal Gold's Enterprise Value is €15,351 Mil.
Royal Gold's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was €741 Mil. Therefore, Royal Gold's EV-to-OCF for today is 20.71.
The historical rank and industry rank for Royal Gold's EV-to-OCF or its related term are showing as below:
FRA:RG3'
s EV-to-OCF Range Over the Past 10 Years
Min: 11.75 Med: 20.24 Max: 35.7
Current: 20.26
During the past 13 years, the highest EV-to-OCF of Royal Gold was 35.70. The lowest was 11.75. And the median was 20.24.
FRA:RG3's EV-to-OCF is ranked worse than 92.64% of 2664
companies
in the Metals & Mining industry
Industry Median: -8.435
vs FRA:RG3: 20.26
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Royal Gold's share price for today is €176.70.
Royal Gold's Earnings per Share (Diluted) 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 €7.224.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Royal Gold EV-to-OCF Related Terms
Royal Gold EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Royal Gold's EV-to-OCF 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.
For the Gold subindustry, Royal Gold's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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-OCF vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Royal Gold's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Royal Gold's EV-to-OCF falls into.
Royal Gold's current Enterprise Value is €15,351 Mil.
Royal Gold's Cash Flow from Operations 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 €741 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.
Royal Gold (FRA:RG3) has a EV-to-OCF of 20.71 as of Jul. 27, 2026. This is near median its historical median of 20.24. Over the past decade, Royal Gold's EV-to-OCF has ranged from 11.75 to 35.70. According to the industry distribution chart, Royal Gold ranks #2468 out of 2664 companies in the Metals & Mining industry, placing it in the top 92.6%.
Is Royal Gold's EV-to-OCF too high?
Royal Gold's current EV-to-OCF of 20.71 is near median its 10-year median of 20.24. Over the past 10 years, this metric has ranged from a low of 11.75 to a high of 35.70. Based on the distribution chart, Royal Gold ranks #2468 out of 2664 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Royal Gold has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Royal Gold's EV-to-OCF compare to CDE and AUGO?
According to the Metals & Mining industry distribution chart, Royal Gold ranks #2468 out of 2664 companies for EV-to-OCF. This places Royal Gold in the lower half of its industry. Historically, Royal Gold's own EV-to-OCF has ranged from 11.75 to 35.70 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Metals & Mining company?
A good EV-to-OCF depends on the Metals & Mining industry context. However, EV-to-OCF 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 EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. Royal Gold's current EV-to-OCF is 20.71, which is near median its own 10-year median of 20.24. 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 €245.47, compared to a current price of €176.70 — trading 28% below its estimated fair value. The current EV-to-OCF is 20.71, which is near median its 10-year median of 20.24. Royal Gold's overall GF Score™ is 92/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Royal Gold (FRA:RG3), the current EV-to-OCF is 20.71 as of Jul. 27, 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 €176.70 is trading 28% below its estimated GF Value™ of €245.47.
GuruFocus considers Royal Gold to be Modestly Undervalued.
Key valuation signals for FRA:RG3:
EV-to-OCF: 20.71 (near median its 10-year median of 20.24)
GF Value™: €245.47 vs. price of €176.70 (28% below fair value)
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.
92GF Score
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