Royal GoldFRA:RG3 -3.47%91 Gross Margin % is 67.07% as of Mar. 2026, which is 33% above its 10-year median of 50.37. 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. Among 730 Metals & Mining companies, Royal Gold ranks better than 89.73% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Royal Gold's Gross Profit for the
three
months ended in Mar. 2026 was €272 Mil. Royal Gold's Revenue for the
three
months ended in Mar. 2026 was €406 Mil. Therefore, Royal Gold's Gross Margin % for the quarter that ended in Mar. 2026 was 67.07%.
The historical rank and industry rank for Royal Gold's Gross Margin % or its related term are showing as below:
FRA:RG3'
s Gross Margin % Range Over the Past 10 Years
Min: 39.95 Med: 50.37 Max: 69.27
Current: 68.47
During the past 13 years, the highestGross Margin % of Royal Gold was 69.27%. The lowest was 39.95%. And the median was 50.37%.
FRA:RG3's Gross Margin % is ranked better than 89.73% of 730
companies
in the Metals & Mining industry
Industry Median: 26.045
vs FRA:RG3: 68.47
Royal Gold had a gross margin of 67.07% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Royal Gold was 7.60% per year.
Royal Gold (FRA:RG3) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Royal Gold had a gross margin of 67.07% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Royal Gold Gross Margin % Related Terms
Royal Gold Gross Margin % Historical Data
* Premium members only.
The historical data trend for Royal Gold's Gross Margin % 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, SA: Gross Margin % Comparison
For the Gold subindustry, Royal Gold's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Royal Gold's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Royal Gold's Gross Margin % falls into.
* 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Royal Gold (FRA:RG3) has a Gross Margin % of 67.07% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Royal Gold and its competitors. This is 33% above median its historical median of 50.37. Over the past decade, Royal Gold's Gross Margin % has ranged from 39.95 to 69.27. According to the industry distribution chart, Royal Gold ranks #75 out of 730 companies in the Metals & Mining industry, placing it in the top 10.3%.
Is Royal Gold's Gross Margin % too high?
Royal Gold's current Gross Margin % of 67.07% is 33% above median its 10-year median of 50.37. Over the past 10 years, this metric has ranged from a low of 39.95 to a high of 69.27. The Metals & Mining industry median Gross Margin % is 26.05. Royal Gold's value of 67.07% is 157.5% above this industry median. Based on the distribution chart, Royal Gold ranks #75 out of 730 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. 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 Gross Margin % compare to CDE and AUGO?
According to the Metals & Mining industry distribution chart, Royal Gold ranks #75 out of 730 companies for Gross Margin %. This places Royal Gold in the top 10% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 26.05. Royal Gold's value of 67.07% is 157.5% above this benchmark. Historically, Royal Gold's own Gross Margin % has ranged from 39.95 to 69.27 over the past decade. While the company's 10-year median is 50.37 vs. the industry median of 26.05, 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 Gross Margin % for a Metals & Mining company?
The median Gross Margin % among Metals & Mining companies is 26.05, based on 730 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Royal Gold's current Gross Margin % of 67.07% is 157.5% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Royal Gold and its competitors. For the Metals & Mining industry, the median Gross Margin % is 26.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Royal Gold's current Gross Margin % is 67.07%, which is 33% above median its own 10-year median of 50.37. 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 Gross Margin % is 67.07%, which is 33% above median its 10-year median of 50.37 and 157.5% above the Metals & Mining industry median of 26.05. 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 Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Royal Gold (FRA:RG3), the current Gross Margin % is 67.07% 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:
Gross Margin %: 67.07% (33% above median its 10-year median of 50.37)
GF Value™: €238.64 vs. price of €175.00 (26.7% below fair value)
Industry Position: 157.5% above the Metals & Mining median (#75 of 730)
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.
91GF Score
Get the complete analysis for FRA:RG3
Gross Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:RG3 has been successfully added to your 
