Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
Royal Gold's Sloan Ratio for the quarter that ended in Mar. 2026 was 11.57%.
As of Mar. 2026, Royal Gold has a Sloan Ratio of 11.57%, indicating there is a warning stage of accrual build up.
Royal Gold (XSWX:RGLD) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2026, Royal Gold has a Sloan Ratio of 11.57%, indicating there is a warning stage of accrual build up.
Royal Gold Sloan Ratio % Related Terms
Royal Gold Sloan Ratio % Historical Data
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The historical data trend for Royal Gold's Sloan 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 Sloan Ratio %, along with its competitors' market caps and Sloan 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 Sloan Ratio % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Royal Gold's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Royal Gold's Sloan Ratio % falls into.
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Royal Gold's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Royal Gold's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was 132.349 (Jun. 2025 ) + 126.824 (Sep. 2025 ) + 93.611 (Dec. 2025 ) + 281.13 (Mar. 2026 ) = CHF634 Mil.
Royal Gold's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was 152.802 (Jun. 2025 ) + 173.97 (Sep. 2025 ) + 241.705 (Dec. 2025 ) + 293.562 (Mar. 2026 ) = CHF862 Mil.
Royal Gold's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -112.754 (Jun. 2025 ) + -985.914 (Sep. 2025 ) + -261.596 (Dec. 2025 ) + 34.107 (Mar. 2026 ) = CHF-1,326 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 (XSWX:RGLD) has a Sloan Ratio % of 11.57% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Royal Gold and its competitors.
Is Royal Gold's Sloan Ratio % too high?
Royal Gold's current Sloan Ratio % is 11.57%. Overall, Royal Gold has a GF Score™ of 91/100, reflecting its overall financial health beyond just this single metric.
How does Royal Gold's Sloan Ratio % compare to ?
Royal Gold's Sloan Ratio % of 11.57% 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 Sloan Ratio % for a Metals & Mining company?
A good Sloan Ratio % depends on the Metals & Mining industry context. However, Sloan Ratio % 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 Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Royal Gold and its competitors. Royal Gold's current Sloan Ratio % is 11.57%. 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?
Royal Gold (XSWX:RGLD) has a current Sloan Ratio % of 11.57%. The stock's GF Value™ is CHF222.20, compared to a current price of CHF164.28 — trading 26.1% below its estimated fair value. The current Sloan Ratio % is 11.57%. 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 Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Royal Gold (XSWX:RGLD), the current Sloan Ratio % is 11.57% 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 (XSWX:RGLD) Overvalued in 2026?
Based on GuruFocus' analysis, Royal Gold stock appears to be undervalued.
The current stock price of CHF164.28 is trading 26.1% below its estimated GF Value™ of CHF222.20.
Key valuation signals for XSWX:RGLD:
Sloan Ratio %: 11.57%
GF Value™: CHF222.20 vs. price of CHF164.28 (26.1% below fair value)
No single metric tells the full story. See the XSWX: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.
91GF Score
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