Royal Gold (RGLD) Q4 2025 Earnings Call Transcript | The Motley Fool
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 19, 2026
AI-Generated Deep Dive Summary
Royal Gold (RGLD) reported a standout Q4 2025 earnings call, showcasing record annual and quarterly results driven by strong metal prices and strategic acquisitions. The company's revenue reached $1 billion, marking a 43% year-over-year increase, with gold accounting for 78% of total revenue. This reflects the company's continued dominance in the royalty sector, particularly with its recent acquisitions of Sandstorm Gold (NYSE:SAND) and Horizon Copper (TSX:CU), which significantly expanded its portfolio and added high-revenue assets like the Kansanshi gold stream.
Financial highlights include a $705 million operating cash flow, up 33%, and an impressive adjusted EBITDA margin of 82%. Net income rose to $466 million, a 40% increase year-over-year, while adjusted net income reached $510 million, up 47%. These figures underscore the company's ability to capitalize on higher commodity prices and its growing stream segment, which saw revenue surge by over 110% to $265 million. Key assets like Pueblo Viejo, Andacollo, Rainy River, and Mount Milligan contributed significantly to this growth.
Royal Gold also demonstrated strong financial discipline, reducing debt from a peak of $1.225 billion to $900 million by year-end, with plans for full repayment by early 2027. The company's liquidity position remained robust at $757 million, supporting its ongoing expansion and integration efforts. Notably, the sale of Versamet Royalties shares from
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Originally published on The Motley Fool on 2/19/2026