Royal GoldFRA:RG3 -3.67%91 ROE % is 15.53% as of Mar. 2026, which is 77% above its 10-year median of 8.78. 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 2,389 Metals & Mining companies, Royal Gold ranks better than 84.22% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Royal Gold's annualized net income for the quarter that ended in Mar. 2026 was €973 Mil. Royal Gold's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was €6,263 Mil. Therefore, Royal Gold's annualized ROE % for the quarter that ended in Mar. 2026 was 15.53%.
The historical rank and industry rank for Royal Gold's ROE % or its related term are showing as below:
FRA:RG3'
s ROE % Range Over the Past 10 Years
Min: -5.17 Med: 8.78 Max: 12.94
Current: 12.94
During the past 13 years, Royal Gold's highest ROE % was 12.94%. The lowest was -5.17%. And the median was 8.78%.
FRA:RG3's ROE % is ranked better than 84.22% of 2389
companies
in the Metals & Mining industry
Industry Median: -16.11
vs FRA:RG3: 12.94
Royal Gold (FRA:RG3) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Royal Gold ROE % Related Terms
Royal Gold ROE % Historical Data
* Premium members only.
The historical data trend for Royal Gold's ROE % 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 ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Royal Gold's ROE % distribution charts can be found below:
* The bar in red indicates where Royal Gold's ROE % 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Royal Gold (FRA:RG3) has a ROE % of 15.53% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Royal Gold and its competitors. This is 77% above median its historical median of 8.78. According to the industry distribution chart, Royal Gold ranks #377 out of 2389 companies in the Metals & Mining industry, placing it in the top 15.8%.
Is Royal Gold's ROE % too high?
Royal Gold's current ROE % of 15.53% is 77% above median its 10-year median of 8.78. Based on the distribution chart, Royal Gold ranks #377 out of 2389 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 ROE % compare to CDE and AUGO?
According to the Metals & Mining industry distribution chart, Royal Gold ranks #377 out of 2389 companies for ROE %. This places Royal Gold in the top 16% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Metals & Mining company?
A good ROE % depends on the Metals & Mining industry context. However, ROE % 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Royal Gold and its competitors. Royal Gold's current ROE % is 15.53%, which is 77% above median its own 10-year median of 8.78. 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 €181.30 — trading 24% below its estimated fair value. The current ROE % is 15.53%, which is 77% above median its 10-year median of 8.78. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For Royal Gold (FRA:RG3), the current ROE % is 15.53% 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 €181.30 is trading 24% below its estimated GF Value™ of €238.64.
GuruFocus considers Royal Gold to be Modestly Undervalued.
Key valuation signals for FRA:RG3:
ROE %: 15.53% (77% above median its 10-year median of 8.78)
GF Value™: €238.64 vs. price of €181.30 (24% 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.
91GF Score
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