Royal GoldMEX:RGLD 94 PB Ratio is 2.36 as of Jun. 27, 2026, which is 17% below its 10-year median of 2.83. GuruFocus rates MEX:RGLD with a GF Score™ of 94/100 and a GF Value™ of MXN4,860.97 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,358 Metals & Mining companies, Royal Gold ranks worse than 51.53% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-27), Royal Gold's share price is MXN3717.00. Royal Gold's Book Value per Share for the quarter that ended in Mar. 2026 was MXN1,577.07. Hence, Royal Gold's PB Ratio of today is 2.36.
Good Sign:
Royal Gold Inc stock PB Ratio (=2.38) is close to 5-year low of 2.15.
The historical rank and industry rank for Royal Gold's PB Ratio or its related term are showing as below:
MEX:RGLD'
s PB Ratio Range Over the Past 10 Years
Min: 1.78 Med: 2.83 Max: 4.5
Current: 2.38
During the past 13 years, Royal Gold's highest PB Ratio was 4.50. The lowest was 1.78. And the median was 2.83.
MEX:RGLD's PB Ratio is ranked worse than 51.53% of 2358
companies
in the Metals & Mining industry
Industry Median: 2.25
vs MEX:RGLD: 2.38
During the past 12 months, Royal Gold's average Book Value Per Share Growth Rate was 79.50% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 26.60% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 16.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 6.50% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Royal Gold was 91.80% per year. The lowest was -58.10% per year. And the median was 11.00% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Royal Gold PB Ratio Related Terms
Royal Gold PB Ratio Historical Data
* Premium members only.
The historical data trend for Royal Gold's PB 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.
For the Gold subindustry, Royal Gold's PB Ratio, along with its competitors' market caps and PB 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 PB Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Royal Gold's PB Ratio distribution charts can be found below:
* The bar in red indicates where Royal Gold's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Royal Gold's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Royal Gold (MEX:RGLD) has a PB Ratio of 2.36 as of Jun. 27, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Royal Gold and its competitors. This is 17% below median its historical median of 2.83. Over the past decade, Royal Gold's PB Ratio has ranged from 1.78 to 4.50. According to the industry distribution chart, Royal Gold ranks #1215 out of 2358 companies in the Metals & Mining industry, placing it in the top 51.5%.
Is Royal Gold's PB Ratio too high?
Royal Gold's current PB Ratio of 2.36 is 17% below median its 10-year median of 2.83. Over the past 10 years, this metric has ranged from a low of 1.78 to a high of 4.50. The Metals & Mining industry median PB Ratio is 2.25. Royal Gold's value of 2.36 is 4.9% above this industry median. Based on the distribution chart, Royal Gold ranks #1215 out of 2358 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Royal Gold has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Royal Gold's PB Ratio compare to CDE and AUGO?
According to the Metals & Mining industry distribution chart, Royal Gold ranks #1215 out of 2358 companies for PB Ratio. This places Royal Gold in the lower half of its industry. The industry median PB Ratio is 2.25. Royal Gold's value of 2.36 is 4.9% above this benchmark. Historically, Royal Gold's own PB Ratio has ranged from 1.78 to 4.50 over the past decade. While the company's 10-year median is 2.83 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 PB Ratio for a Metals & Mining company?
The median PB Ratio among Metals & Mining companies is 2.25, based on 2,358 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Royal Gold's current PB Ratio of 2.36 is 4.9% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Royal Gold and its competitors. For the Metals & Mining industry, the median PB 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 PB Ratio is 2.36, which is 17% below median its own 10-year median of 2.83. 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 (MEX:RGLD) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN4,860.97, compared to a current price of MXN3,717.00 — trading 23.5% below its estimated fair value. The current PB Ratio is 2.36, which is 17% below median its 10-year median of 2.83 and 4.9% above the Metals & Mining industry median of 2.25. Royal Gold's overall GF Score™ is 94/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Royal Gold (MEX:RGLD), the current PB Ratio is 2.36 as of Jun. 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 (MEX:RGLD) Overvalued in 2026?
Based on GuruFocus' analysis, Royal Gold stock appears to be undervalued.
The current stock price of MXN3,717.00 is trading 23.5% below its estimated GF Value™ of MXN4,860.97.
GuruFocus considers Royal Gold to be Modestly Undervalued.
Key valuation signals for MEX:RGLD:
PB Ratio: 2.36 (17% below median its 10-year median of 2.83)
GF Value™: MXN4,860.97 vs. price of MXN3,717.00 (23.5% below fair value)
Industry Position: 4.9% above the Metals & Mining median (#1215 of 2358)
No single metric tells the full story. See the MEX:RGLD 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.
94GF Score
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